Citigroup chief executive Michael Corbat has wasted little time in cost cutting since taking over the helm of America’s third-largest bank from Vikram Pandit in October. The New York-based firm has announced plans to eliminate 11,000 jobs worldwide, about 4 percent of its workforce, and will take a US$1 billion charge in the fourth quarter. Investors cheered the news, sending …

ALL EYES ON NEW RBNZ GOVERNOR WHEELER’S FIRST MPS. Roll on 9am with the Monetary Policy Statement likely to be one of stability.  While a cut is not impossible, and had it not been for a number of positive factors (including a pick up in activity in Christchurch and a solid bounce in Auckland housing activity) we’d probably be calling for one ourselves, it is …

When the Trans-Pacific Partnership talks were in Dallas, it was both inspiring and enlightening to be with a range of Asia-Pacific business representatives talking about the opportunities afforded to countries and companies through opening up trade and developing economic ties. Same thing in San Diego. Much of the media commentary detailed empirical examples of the benefits of trade and investment …