Microsoft reportedly fires its global ad sales team.
Sources tell Business Insider that roughly 100 people across multiple countries found out this week that they are no longer needed to sell ad space on Bing, Xbox, and other Microsoft properties. The company confirms to Quartz that it has “taken another step that will complete almost all the 18,000 [company-wide] reductions announced in July.”
7 hours ago
Britain goes easy on its banks.
Lenders knew they’d have to start keeping a greater percentage of their capital in the vault, but the 4.05% minimum leverage ratio that the Bank of England will be requiring as of 2019 is well below the 7.5% ratio some were expecting. Barclays and Lloyds shares rose on the news.
8 hours ago
Russia’s central bank raises its benchmark interest rate to 9.5%.
Abenomics just made the Nikkei notch a seven-year high.
October 31, 2014
The Bank of Japan moves to save Abenomics.
The central bank will expand its bond purchases to 80 trillion yen a year ($726 billion), from 60-70 trillion currently, in a surprise attempt to kickstart the sluggish economy. By a 5-4 split decision, the bank’s board of governors said the move was necessary to reverse “a deflationary mindset,” (paywall) especially after a sales tax increase earlier this year crimped consumer prices. The Nikkei 225 surged nearly 3% on the news.
October 30, 2014
Russia signs a gas deal with Ukraine.
Russia will supply Ukraine with 4 billion cubic meters of gas until March next year, at a cost of $4.6 billion, some of which is for previous gas deliveries. Ukraine must pay the sum up front but the EU, which also signed the agreement, will provide “unprecedented levels” of aid to help cover the cost.
October 31, 2014
Halloween costumes are banned on the Beijing subway.