Rigs targeting oil in the U.S. fell by 28 to 439, after more than 1,000 were idled over the past year and a half, Baker Hughes Inc. said. Supplies at Cushing, Oklahoma, the biggest U.S. oil-storage hub, rose to a record 64.7 million barrels last week. Source: Bloomberg
HSBC Holdings PLC plans to add more than a 1,000 jobs this year at its technology development centers in China, as the Asia-focused lender seeks to bolster its presence in the world’s second largest economy. Source: Reuters
British Steel, the country’s second largest steel producer, is on the brink of collapse unless the government agrees to provide an emergency 30 million pound loan by later on Tuesday, two sources close to the situation said. Source: Reuters
Ford will cut 7,000 jobs from its global salaried workforce, or about 10 percent of its 70,000 employees, the company announced on Monday. About 20 percent will be senior-level managers, which is part of an effort to flatten the company’s organizational structure. Source: The Verge
