«Look at it as five per
cent a year cuts and it's what businesses regularly do,» my lunch companion said.
Not exact matches
St. Louis - based Anheuser - Busch, the largest U.S. brewer, said earlier this month it had
cut its water use by 32 per
cent in the last five
years by sponsoring preservation initiatives in water basins critical to its breweries, and by installing U.S. Department of Agriculture real - time weather and crop water - use data meters on suppliers» farms.
Budget
cuts not possible - Buswell The state government's economic policy was in tatters last night after Treasurer Troy Buswell conceded he would not achieve the controversial 3 per
cent cuts expected to pay for election promises in this
year's budget.
Potash Corp. of Saskatchewan (TSX: POT)
cut about 18 per
cent of its workforce late last
year in response to the soft demand.
Excluding items, the company reported earnings of 78
cents per share, which included a 13 -
cent impact from tax
cuts signed into law by U.S. President Donald Trump late last
year.
Failure of prices to recover raises the prospect of even deeper
cuts to investment by oil and gas companies next
year and would likely result in Canada's economy remaining on a slower growth path than the 2.2 per
cent pace we are expecting.»
«From 1980 to 2007, in that period, revenues from the top 1 per
cent of income earners went from 1.6 per
cent of GDP, to 3.1 per
cent of GDP, a huge surge of revenues from the highest income earners,» he said, crediting tax
cuts with generating that wealth during those
years.
The bank's results included charges totalling 23
cents per share, including an $ 88 - million net tax adjustment due to a
cut to the U.S. corporate tax rate from 35 per
cent to 21 per
cent that took effect this
year.
The company completed a 15 per
cent cut to its workforce in January and February, eliminating between 500 and 700 jobs, as part of its plan to trim $ 1 billion in cumulative capital, operating and administration costs over two
years.
Earnings estimates for the 2018 fiscal
year are being revised upwards by some analysts to account for the impending bump from recent interest rate hikes and a U.S. corporate tax
cut from 35 per
cent to 21 per
cent that took effect on Jan. 1.
The results also showed that Uber
cut its fourth - quarter net loss by 25 per
cent from the third quarter as new CEO Dara Khosrowshahi moves to make the company profitable ahead of a planned initial public stock offering sometime next
year.
Unless, of course, you are talking about the families of the wealthy and privileged who have received about 70 per
cent of federal personal tax
cuts over the past 10
years.
They've come a long way in a short time: it was just over four
years ago, April 2, 1993 to be precise, when Philip Morris
cut the price of Marlboro cigarettes by 40
cents a pack.
That will be tricky given that 10 -
year Treasuries currently yield below 2.20 per
cent and this would decline precipitously with a recession and any move to
cut Fed funds.
BC Hydro will
cut its proposed rate hike in half over the next three
years, from 30 per
cent to 16 per
cent, following a government panel review on Thursday.
NDP commitments include a two point
cut in the small business tax rate (already implemented by the Conservatives); extension of the accelerated capital cost allowance for two
years (already implemented by the Conservatives (but with a different phase in); an innovation tax credit for machinery used in research and development; an additional one
cent of gas tax for the provinces for infrastructure; a transit infrastructure fund; increased funding for social housing; a major child care initiative; and, increasing ODA funding to 0.7 per
cent of Gross National Income (GNI).
NDP promises include a two point
cut in the small business tax rate (already implemented in the budget by the Conservatives); extension of the accelerated capital cost allowance for two
years (also already implemented by the Conservatives); an innovation tax credit for machinery used in research and development; an additional one
cent of gas tax for the provinces for infrastructure; a transit infrastructure fund; increased funding for social housing; a major child care initiative; increasing ODA funding to 0.7 per
cent of Gross National Income (GNI); and restoring the 6 % annual escalator to the Canada Health Transfer.
«The [U.S. Department of Energy] expects the Obama administration's recent drilling moratorium to
cut U.S. production by an average 70,000 [barrels a day] next
year, which is equal to only about 1 per
cent of current OPEC spare capacity.»
It also confirmed it would introduce a 3 per
cent tax on company dividends, increase wealth and inheritance taxes and abolish a tax «shield» — or ceiling — for the wealthy in its effort to meet its targets of
cutting the budget deficit to 4.5 per
cent of gross domestic product this
year and 3 per
cent in 2013.
Most economists are tipping the central bank will stay on hold until at least August, while financial markets are pricing in an only 8 per
cent chance of a rate
cut tomorrow, moving up to a more than 100 per
cent chance of more easing by the end of the
year.
The Reserve Bank of Australia
cut the cash rate in May from 2 per
cent to a record low 1.75 per
cent out of concern that inflation was trending too low, following first - quarter inflation data that showed prices had fallen 0.2 per
cent in the first three months of the
year.
Export growth has eased a little, following the surge in December 2003 as exporters sought to avoid the
cut in tax rebates on 1 January, but growth over the
year remains exceptionally strong at 43 per
cent.
The Bank of Canada has
cut its policy rate by a cumulative 75 basis points so far this
year (in three moves) to 2 per
cent, against a background of weak GDP growth and subdued inflation.
This
cutting - edge facility is an estimated 60 per
cent more energy - efficient than the company's traditional refrigerated distribution centres allowing it to
cut costs by $ 4.8 million over a 5 -
year period.
Reynolds states that in the October 2010 Update, corporate income taxes had increased,
year - over-
year by 3 per
cent — not withstanding lower corporate earnings and Mr. Flaherty's incremental tax
cut a
year ago.
-- Frontier Communications (NYSE: FTR), now the largest rural telecom company in the U.S., has long been a favorite of mine, although it tested my devotion a few
years ago when it
cut its dividend twice in six months, from $ 1.00 a
year to 40
cents.
In December 2011, Minister Flaherty unilaterally announced to the provinces that the annual Canada Health Transfer escalator would be
cut from 6 per
cent per
year to a moving average of growth in nominal gross domestic product, or would grow by at least 3 per
cent per
year.
The retailer has previously said it expects these investments to
cut its profitability by 30
cents a share for the full
year.
The impact of the ITC downturn is even more evident in the production data, where growth has slowed to a
year - ended pace of around 3 1/2 per
cent, as firms
cut back ITC production in order to rein in inventories.
Values of imports and exports soared, rising by around 50 per
cent over the
year to December as firms rushed to fill export orders ahead of the
cut in export rebates on 1 January 2004 (Graph 9).
Directors fees will be
cut 25 per
cent for the remainder of the
year, and the pay and job status of people within the business responsible for the fees - for - no - service will be decided after an external review, the company said.
They're expected to
cut the Cathedral's energy bills by twenty five per
cent each
year, equivalent to making around 2,000 cups of tea.
The Government has said it wants to
cut teenage pregnancies, and aims to do so by fifty per
cent by the
year 2010.
Beleaguered dairy group Murray Goulburn's decision to reverse its
cut to farmgate milk prices appears to have done little to stem the tide of supplier defections, with the company revealing on Monday its milk intake for the 2018 financial
year will be about 18 per
cent lower than in 2017.
The plant's water recovery plant exceeded its designers» high expectations in its first
year of service while also providing valuable biogas for boiler heating, reducing its dependence on fossil fuels and ultimately
cutting overall energy needs by 15 per
cent.
Over the last five
years, as Coles challenged suppliers and
cut or absorbed cost price rises, the retailer has recorded annual food and liquor deflation of 1.5 per
cent and claims to have saved the average family more than $ 600 a
year off their grocery shop.
Murray Goulburn slashed its full -
year earnings forecasts by 40 per
cent on Wednesday and said it would
cut the price it pays farmers for their milk to $ 4.75 to $ 5 a kilogram just two months after saying it would maintain the farm-gate price at $ 5.60 this season.
The three Israeli companies providing the People's Republic with its «clean» meat — SuperMeat, Future Meat Technologies and Meat the Future — will be helping the country meet its commitment to
cutting meat consumption by 50 per
cent, as recommended last
year by the Chinese Nutrition Society.
He says the 4 per
cent rise a
year in rural property values in Victoria over the last two decades would have
cut off in 2008 for dairy farms.
CCA was unable to raise prices to cover a 1.7 per
cent increase in cost of goods last
year and is believed to have lost market share in the supermarket channel as Schweppes
cut prices to boost sales of Pepsi Next.
Researchers in Victoria have
cut methane emissions in dairy cows 20 per
cent by feeding them grape marc (stems, seeds and skins), part of 200,000 tonnes mostly discarded by the wine industry every
year.
Coca - Cola Amatil is reducing bottled water prices, launching new products and searching for new ways to
cut costs in an attempt to maintain profits this
year and grow annual earnings by about 5 per
cent over the next few
years.
The EU's CAP reforms, agreed in 2003, pledged to
cut the intervention, or guaranteed minimum, price for butter exports outside the bloc by 25 per
cent over four
years.
Prices for raw materials and energy are forecast to rise by around five to 10 per
cent this
year, but Nestlé believes cost
cuts will balance the equation out, the company's chief executive said yesterday.
Mondelez Australia, which is shrinking Cadbury chocolate bars to
cut costs, increased profit by 43 per
cent last
year after slashing expenses and booking a $ 30 million tax credit.
And Real have also negotiated a 33 per
cent cut of any transfer fee over the $ 50m they sold him for two - and - a-half
years ago.
While the club still has net debts of around # 57m, overall debt has been
cut this
year, on the back of a strong performance, with TV money doubling to # 100m, and commercial revenue increased by 5 per
cent to # 104m.
«It's hard to pick out the unkindest
cut of all, but a top contender must be the ten per
cent cut in housing benefit that kicks in after someone has been unemployed for more than a
year.
The structural deficit is now forecast to be not a surplus of 0.9 per
cent of GDP but a deficit of 1.2 per
cent of GDP in 2015 - 16 — breaking that objective by a wide margin, even with the extra spending
cuts that have now been programmed in for that
year.
Ninety four per
cent of public spending
cuts are yet to hit the UK, and the public sector is due to come under more pressure in the next few
years.