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China Sept data likely to show further economic weakness

A deluge of data from China in coming weeks is likely to point to further weakness in the world’s second-largest economy, reinforcing expectations that Beijing will roll out more stimulus measures to ward off a sharper slowdown. September performance readings will be capped by third-quarter gross domestic product (GDP) on Oct. 19, with many economists expecting growth to drop below 7 percent, the weakest since the global financial crisis. Some

StanChart CEO plans to cut about 1,000 top staff: memo

SINGAPORE/LONDON (Reuters) – Standard Chartered’s new Chief Executive Bill Winters plans to cut about 1,000 of the bank’s most senior staff to reduce costs, according to a memo sent to staff, as he battles to revive the bank following a sharp drop in profits. The cull shows the scale of the overhaul Winters is planning at the Asia-focused bank, which he has said needs to speed up decision-making on costs,