Money

  • iPhone czar seeks US$4.3b IPO to emerge from Apple’s shadow

    10 hours ago

    iPhone czar seeks US$4.3b IPO to emerge from Apple’s shadow

    TAIPEI, May 24 — Terry Gou’s Foxconn has ridden Apple Inc’s ascendancy for a decade as its most important production partner. Now, Taiwan’s second-richest man is prepping...

  • Trudeau blocks Chinese takeover of Aecon on security grounds

    10 hours ago

    Trudeau blocks Chinese takeover of Aecon on security grounds

    OTTAWA, May 24 — The Canadian government blocked a proposed takeover of construction firm Aecon Group Inc by a unit of China Communications Construction Company Ltd in the...

  • Bitcoin slumps below US$7,500 as drop from recent peak tops 20pc

    11 hours ago

    Bitcoin slumps below US$7,500 as drop from recent peak tops 20pc

    NEW YORK, May 24 — Bitcoin fell to a six-week low, as selloff that began in early May dropped the cryptocurrency’s price below US$7,500 (RM30,152) for the first time since...

  • KL shares drop after higher opening

    11 hours ago

    KL shares drop after higher opening

    KUALA LUMPUR, May 24 — Bursa Malaysia opened higher, but retreated thereafter on continued selling in selected heavyweights, and amid mixed sentiment among regional peers,...

  • Asia markets lower on renewed US-China trade concerns

    12 hours ago

    Asia markets lower on renewed US-China trade concerns

    SHANGHAI, May 24 — Asian shares moved lower today as investors fretted about new setbacks in US-China trade talks, but negative sentiment was tempered by US Federal Reserve...

  • Emerging-market rout has traders caught in grim feedback loop

    13 hours ago

    Emerging-market rout has traders caught in grim feedback loop

    NEW YORK, May 24 — A feedback loop is taking hold across financial markets as the emerging-market selloff intensifies, helping to support the greenback and giving Treasury bears...

  • Singapore economy grows faster than estimated in Q1

    12 hours ago

    Singapore economy grows faster than estimated in Q1

    SINGAPORE, May 24 — Singapore’s economy grew at a faster pace in the first quarter than initially estimated, supported by a healthy manufacturing sector. Key highlights Gross...

  • US beats Hong Kong to reclaim global competitiveness crown

    14 hours ago

    US beats Hong Kong to reclaim global competitiveness crown

    GENEVA, May 3 — The US dethroned Hong Kong to retake first place among the world’s most competitive economies, thanks to faster economic growth and a supportive atmosphere for...

  • How BOJ crushed trading in Japan's US$10t bond market

    12 hours ago

    How BOJ crushed trading in Japan's US$10t bond market

    TOKYO, May 24 — When Tadashi Kikugawa arrived on the Japanese bond desk at Fuji Bank in 1988 after finishing a college degree in physics, he had to get to grips with a market...

  • Singapore group Royal Golden Eagle acquires Brazil's Lwarcel

    13 hours ago

    Singapore group Royal Golden Eagle acquires Brazil's Lwarcel

    SAO PAULO, May 24 — Singapore group Royal Golden Eagle said yesterday it had reached a deal to acquire Brazilian pulp maker Lwarcel Celulose Ltda for an undisclosed amount....

  • Oil falls on shock US stock builds, Opec supply worries

    15 hours ago

    Oil falls on shock US stock builds, Opec supply worries

    NEW YORK, May 24 — Oil benchmarks fell yesterday after an unexpected build in US crude and gasoline inventories despite strong demand, and as traders weighed a possible increase...

  • Trump may impose tariffs on car imports in latest trade move, say sources

    14 hours ago

    Trump may impose tariffs on car imports in latest trade move, say sources

    WASHINGTON, May 24 — The Trump administration is considering a proposal to impose new tariffs on imported vehicles, invoking a national security law used to impose tariffs on...

  • China signals to state giants — 'Buy American' oil and grains

    15 hours ago

    China signals to state giants — 'Buy American' oil and grains

    BEIJING, May 24 — China will import record volumes of US oil and is likely to ship more US soy after Beijing signalled to state-run refiners and grains purchasers they should...

  • Wall St ends up as Fed seen keeping gradual approach to rate hikes

    15 hours ago

    Wall St ends up as Fed seen keeping gradual approach to rate hikes

    NEW YORK, May 24 — US stocks ended with small gains yesterday after minutes from the Federal Reserve's latest meeting suggested higher inflation may not result in faster...

  • Dollar up as euro zone growth worries hobble euro

    22 hours ago

    Dollar up as euro zone growth worries hobble euro

    NEW YORK, May 23 ― The dollar rose to a six-month high against the euro today as data indicating a slowdown in European business activity hurt the common currency, while broader...

  • US crude, gasoline inventories rise unexpectedly, says agency

    22 hours ago

    US crude, gasoline inventories rise unexpectedly, says agency

    NEW YORK, May 23 ― US crude oil stockpiles climbed unexpectedly last week as net imports jumped, while gasoline stocks also posted a surprise build, the Energy Information...

  • Comcast prepares to top Disney's US$50b offer for Fox

    22 hours ago

    Comcast prepares to top Disney's US$50b offer for Fox

    NEW YORK, May 23 ― Comcast Corp confirmed today it was preparing a higher, all-cash offer for most of the media assets of Twenty-First Century Fox, setting up a bidding war with...

  • Wall Street to open lower as optimism over trade talks fades

    1 day ago

    Wall Street to open lower as optimism over trade talks fades

    NEW YORK, May 23 ― Wall Street was headed to open lower today after US President Donald Trump cast fresh doubts over current US-China trade talks and ahead of a Federal Reserve...

  • US-China trade deal 'too hard to get done,' Trump says

    1 day ago

    US-China trade deal 'too hard to get done,' Trump says

    WASHINGTON, May 23 ― US President Donald Trump today signalled a new direction in US and China's trade talks, saying the current track appeared “too hard to get done” and...

  • Stock futures dip as Trump's comments spark trade talk uncertainty

    1 day ago

    Stock futures dip as Trump's comments spark trade talk uncertainty

    NEW YORK, May 23 ― US stock index futures were lower today on fresh uncertainty over US-China trade talks and ahead of a Federal Reserve report that would be watched for cues on...

  • IBM announces new hiring in France as CEOs meet Macron

    1 day ago

    IBM announces new hiring in France as CEOs meet Macron

    PARIS, May 23 ― IBM announced new recruitment in France before a meeting between President Emmanuel Macron and the bosses of IBM and Microsoft. IBM will hire about 1,400 people...

  • Ringgit closes lower against US dollar

    1 day ago

    Ringgit closes lower against US dollar

    KUALA LUMPUR, May 23 ― The ringgit closed lower against the US dollar ahead of the release of the US Federal Reserve minutes later today, said a dealer.  At 6pm, the local...

  • Priceworth nine-month net profit up six times to RM10.3m

    1 day ago

    Priceworth nine-month net profit up six times to RM10.3m

    KOTA KINABALU, May 23 ― Priceworth International Bhd saw its net profit surge six times to RM10.3 million for the nine months ended March 31, 2018. The timber and sustainable...

  • Bursa Malaysia closes at intra-day low

    1 day ago

    Bursa Malaysia closes at intra-day low

    KUALA LUMPUR, May 23 ― Bursa Malaysia closed at an intra-day low of 1,804.25, giving up  40.78 points from yesterday's 1,845.03, pressured by heavy selling in most...

  • Trade and growth fears spark dash for safe havens

    1 day ago

    Trade and growth fears spark dash for safe havens

    LONDON, May 23 ― Investors sold equities today and raced to buy yen and government bonds from the United States and Germany on fears that setbacks to US-China trade talks would...

  • Sterling slides to new 2018 low on weak UK inflation

    1 day ago

    Sterling slides to new 2018 low on weak UK inflation

    LONDON, May 23 ― Sterling slid today to a new five-month low after weaker-than-expected UK inflation dented the prospect of the Bank of England (BoE) raising interest rates this...

  • MSM Malaysia returns to the black in Q1

    1 day ago

    MSM Malaysia returns to the black in Q1

    KUALA LUMPUR, May 23 ― MSM Malaysia Holdings Bhd (MSM) returned to the black in the  first quarter ended March 31, 2018, as it delivered a net profit of RM15.80 million...

  • Tesla trims up to US$14,000 off Model X in China after tariff cuts

    1 day ago

    Tesla trims up to US$14,000 off Model X in China after tariff cuts

    BEIJING, May 23 ― Tesla Inc has slashed up to US$14,000 (RM55,691) off its Model X in China after Beijing announced major tariff cuts for imported automobiles, a potential sales...

  • Euro, Swiss franc at two-month lows as Italy concerns weigh

    1 day ago

    Euro, Swiss franc at two-month lows as Italy concerns weigh

    LONDON, May 23 ― The Swiss franc and the Japanese yen rose against the dollar today as a wave of caution swept currency markets a day after US President Donald Trump tempered...

  • Dollar sukuk issuance climbs 47.6pc in Q118

    1 day ago

    Dollar sukuk issuance climbs 47.6pc in Q118

    KUALA LUMPUR, May 23 ― Dollar sukuk issuance boosted the global sukuk market in the first quarter 2018 (Q118), climbing 47.6 per cent year-on-year (y-o-y) to US$10.4 billion...