The most common and most likely answer to this crossword clue is the 7 letter word SLICING
I've seen this crossword clue in Financial Times
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Buddy explains!
The straight part
We know that "Cutting" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case cutting = slicing.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does SLICING mean?
SLICING verb- To cut into slices.
- To cut with an edge utilizing a drawing motion.
- To clear (e.g. a fire, or the grate bars of a furnace) by means of a slice bar.
- To hit the shuttlecock with the racket at an angle, causing it to move sideways and downwards.
- To hit a shot that slices (travels from left to right for a right-handed player).
- To angle the blade so that it goes too deeply into the water when starting to take a stroke.
- To kick the ball so that it goes in an unintended direction, at too great an angle or too high.
- To hit the ball with a stroke that causes a spin, resulting in the ball swerving or staying low after a bounce.
- The action of the verb to slice.