The UK government is abolishing the Payment Systems Regulator as part of its attempts to cut “unnecessary regulation” and stoke economic growth.

UK axes payment systems regulator in attempt to cut red tape

Lloyds Banking Group plc set aside an additional £700 million (RM3.92 billion) for possible costs it will face for a regulatory probe into its motor finance business, meaning it missed earnings expectations in the fourth quarter.

Lloyds sets aside £700 mil more for motor finance saga

(April 23) : It’s 8am and already sweltering at the Pomina Flat Steel JSC plant outside Ho Chi Minh City, as the night shift’s last pour of molten metal is shaped, cooled and cut into rods. Down the road, at a Vietnam Steel Corp facility, a long strip is uncoiled into an acid ...

In China’s backyard, steel buyer Vietnam is trying to stem a tide of cheap metal

Chinese corporate and government borrowers have pushed issuance of dollar and euro bonds to a record proportion of all such note sales in emerging markets this month, in one sign of resilience to the trade war.

The country accounted for 49% of such deals in April, set for its biggest monthly share ever, according to Bloomberg calculations.

Chinese foreign bond sales mark record share of EM total

The dollar advanced against its major peers after US President Donald Trump said he had no intention of firing Federal Reserve Chairman Jerome Powell.

The greenback climbed the most against the yen and Swiss franc as a rise in US stock futures damped demand for haven assets.

Relief rebound for dollar as Trump cools rhetoric on Powell

President Donald Trump said he had no intention of firing Federal Reserve Chair Jerome Powell despite his frustration with the central bank not moving more quickly to slash interest rates.

Trump says he has no intention of firing Fed chief Powell

(April 23) : US equity futures surged and the dollar strengthened after President Donald Trump said he had no intention of firing Federal Reserve chair Jerome Powell and as optimism grew that trade tensions may be easing.

Both S&P 500 and Nasdaq 100 c...

US futures, dollar rise on Trump’s Fed backtrack

The year 2024 marked the 50th anniversary of the establishment of diplomatic relations between Malaysia and the People’s Republic of China. In 1974, then prime minister Tun Abdul Razak Hussein cemented an official diplomatic relationship during a visit to Peking (now Beijing).

Ushering in another 50 golden years in Malaysia-China relations

The Trump administration is proposing an overhaul of the US State Department that would eliminate more than 100 offices including some working on war crimes and rights advocacy to ensure Washington's premier diplomatic agency is in line with President Donald Trump's "America First" priorities.

Trump administration proposes shake-up of US State Department

A slew of mergers and acquisitions among finance-related firms is defying the global slump in dealmaking amid market turmoil triggered by US President Donald Trump’s tariff war.

US$50 bil finance deals defy global M&A gloom

Alphabet Inc pays Samsung Electronics Co an “enormous sum of money” every month to pre-install Google generative AI app, Gemini, on its phones and devices, according to court testimony, even though the company’s practice of paying for installations has twice been found to violate the law.

Google paid Samsung ‘enormous sums’ for Gemini AI app installs

The treasurers of eight US states have written an open letter to Tesla Inc’s board of directors questioning the direction of the company and the level of attention Elon Musk is paying to its mounting challenges.

Tesla board gets an earful from state treasurers over Musk’s focus

Petronas Chemicals Group Bhd (KL: PCHEM), or PCG, announced on Tuesday that its Pengerang Petrochemicals Complex in Johor — the group’s largest growth project under its olefins and derivatives segment in partnership with Saudi Aramco — commenced commercial operations in November 2024

Petronas Chemicals says commercial ops at Pengerang site commenced in November 2024

Norges Bank, which manages Norway’s government pension fund, has emerged as a substantial shareholder in automated test equipment (ATE) maker Pentamaster Corp Bhd (KL:PENTA) with a 5.26% stake.

Norges Bank emerges as substantial shareholder of Pentamaster

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

MGB, Scanwolf, DPS Resources, Petronas Chemicals, Alpha IVF, Pentamaster, Southern Steel

United States (US) tech giants Intel and Oracle have raised concerns about the impact of the United States’ (US) tariffs on their operations in Malaysia, said Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Intel, Oracle raise concerns over US tariffs with PM — Zafrul 

Wong &amp; Partners, the legal firm which had advised 1Malaysia Development Bhd (1MDB), did not play a role in the controversial transfer of the US$1 billion meant for a joint venture with PetroSaudi International Ltd (PSI), but which was then misappropriated, the court heard on Tuesday.

1MDB legal adviser Wong & Partners played no role in controversial US$1b remittance, court told

MGB Bhd proposes to settle RM7.23 million with joint venture partner Aset AZG Sdn Bhd (AASB) to kick start a serviced apartment project in Cameron Highlands which has been on the back burner for six years.

MGB settles RM7.23m with JV partner to revive Cameron Highlands project after six years

Wall Street's main indexes recovered some ground on Tuesday as investors focused on corporate earnings after President Donald Trump's mounting criticism of Federal Reserve chair Jerome Powell led to a sharp sell-off in the previous session.

Wall Street bounces back after sell-off as investors focus on earnings

The treasurers of eight US states have written an open letter to Tesla Inc’s board of directors questioning the direction of the company and the level of attention Elon Musk is paying to its mounting challenges.

After Singapore-based steel firm Green Esteel Pte Ltd’s emergence as the controlling shareholder of Southern Steel Bhd (KL:SSTEEL) earlier this year, the Malaysian group is now offloading a 55% stake in its steel wire mesh-making unit to Singapore-listed BRC Asia Ltd for RM61.05 million in cash.

Southern Steel to sell 55% stake in steel wire mesh unit to Singapore-listed BRC Asia

West River Bhd, slated for listing on the ACE Market of Bursa Malaysia on May 5, saw 0.26 times oversubscription for the public portion of its new shares in its initial public offering.

West River’s IPO oversubscribed by 0.26 times

To break into the cryptocurrency mining industry, Eric Trump and Donald Trump Jr are teaming up with executives who previously founded a miner with the backing of investors implicated in an illegal penny-stock pump-and-dump operation.

Trump sons’ bitcoin mining partners had run-ins with regulators

DPS Resources Bhd (KL:DPS) is partnering Invest Energy Sdn Bhd to develop solar farms and other infrastructure to support its proposed artificial intelligence (AI) data centre and high-tech industrial park in Alor Gajah, Melaka.

DPS Resources, Invest Energy team up to build solar farms in Melaka

Alpha IVF Group Bhd (KL:ALPHA) posted a 12.4% year-on-year decline in net profit for its third quarter, dragged by expansion costs and lower contributions from its Singapore operations.

Alpha IVF's 3Q net profit down 12% on expansion costs

Scanwolf Corporation Bhd (KL:SCNWOLF) said it has secured a RM16.63 million subcontract for the relocation of water supply in Rawang, Selangor.

Scanwolf secures subcontract for relocation of water supply in Rawang

The International Monetary Fund on Tuesday slashed its forecasts for growth in the United States, China and most countries, citing the impact of US tariffs now at 100-year highs, and warning that further trade tensions would slow growth further.

IMF cuts growth forecasts for most countries in wake of century-high US tariffs

Hours after swearing an oath to defend the US Constitution on January 20, President Donald Trump signed an executive order directing his attorney general to scour the Justice Department and other agencies for evidence of political "weaponization."

How Trump moved swiftly to punish perceived foes in his first 100 days

Brazil and Argentina are emerging as early winners in the global trade war that’s upending agricultural markets.

From meat to grains, trade war is boon to Brazil, Argentina

Alphabet Inc pays Samsung Electronics Co an “enormous sum of money” every month to pre-install Google generative AI app, Gemini, on its phones and devices, according to court testimony, even though the company’s practice of paying for installations has twice been found to violate the law.

Volkswagen plans to start exporting cars from China, aiming to sell in other Asian markets, South America and the Middle East, its China chief said on Tuesday, adding the carmaker was also ready to tackle domestic competition in the country.

Aisha S Gani