CoreWeave, an artificial intelligence (AI) startup backed by Nvidia, has signed a five-year contract worth US$11.9 billion (RM52.6 billion) with OpenAI ahead of its hotly anticipated stock market launch.

Nvidia-backed CoreWeave inks US$11.9b contract with OpenAI ahead of IPO

US President Donald Trump told business leaders gathered at the World Economic Forum (WEF) in Davos, Switzerland, on Thursday that he is working to reverse inflation and illegal immigration while boosting fossil fuels production in the US.

"What the world has witnessed in the past 72 hours is nothing less than a revolution of common sense," Trump said via video conference, adding that he would focus on deregulation and making the US  a hub of artificial intelligence and cryptocurrencies while extending tax cuts passed during his first term in office.

Trump tells Davos business elite he wants to reverse inflation, cut taxes

TikTok has put on hold a hiring process for consultants that would help it implement a potential security agreement with the United States, two people familiar with the matter said, as opposition to such a deal among US officials grows.

The short-video app, which is owned by Chinese technology conglomerate ByteDance, has been seeking to assure Washington for the last three years that the personal data of US citizens cannot be accessed and its content cannot be manipulated by China's Communist Party or any other entity under Beijing's influence.

TikTok freezes consultant hiring for US security deal as opposition mounts

The S&P 500 Index ended higher on Tuesday after a choppy session in which each of the major indexes fluctuated between gains and losses as a key meeting of the Federal Reserve got under way.

Investors picked up shares of financials and technology companies ahead of Wednesday's expected announcement by the Fed. Eight of the 11 major S&P 500 sectors rose, with energy and financials leading the gains.

S&P 500 ends higher after choppy session ahead of Fed

TikTok's poaching of Disney's Kevin Mayer to be its chief executive officer was just the most visible part of a broader strategy by its Chinese owner to shift its centre of power away from China at a time of rising global tensions, several people familiar with the plans have said. The short video app's parent company ByteDance has quietly made a series of moves in recent months to transfer global decision-making and research capabilities out of its home country, the sources told Reuters.

TikTok owner ByteDance moves to shift power out of China — sources

THE local offshore support vessel (OSV) sector may experience a shortage of vessels in the coming years owing to insufficient new builds and an ageing fleet, says a recent industry report. At the same time, industry players attribute the lack of long-term contracts as a major factor discouraging ...

OSV sector may face shortage amid ageing fleet

Notable filings

From Feb 24 to 28, notable shareholding changes at Bursa Malaysia-listed companies included those at Asia Poly Holdings Bhd (KL:ASIAPLY). The manufacturer of cast acrylic sheets announced in a bourse filing on Feb 25 that Southern Realty Resource Sdn B...

Insider Moves: Asia Poly Holdings Bhd, Central Global Bhd, Maxim Global Bhd, Paragon Globe Bhd, EG Industries Bhd   

Israeli air strikes in Gaza killed at least 200 people, Palestinian health authorities said, as attacks hit dozens of targets early on Tuesday, ending a weeks-long standoff over extending the ceasefire that halted fighting in January.

Israel strikes in Gaza kill at least 200, Palestinian health authorities say

In 2009, for the first time in human history, the global urban population surpassed the rural population. Malaysia followed a similar trajectory at an accelerated pace. At independence in 1957, only 23.4% of Malaysians lived in urban areas. By 1990, Malaysia had become an urban-majority country a...

My Say: Affordable food: When markets and money decide what we eat

Indonesian equities tumbled on Tuesday, triggering a trading halt, as concerns about a weakening economy and softer consumer spending ahead of the Eid holiday weighed on sentiment.

Indonesian stock plunge triggers trading halt on economic woes

A growing share of US consumers say they’re not seeking loans because they expect to be refused amid tight credit conditions, according to data from the Federal Reserve Bank of New York.

Americans see growing risk they’ll get turned down for loans

S&P Global Ratings cut its credit grade on Solera further into junk, as the Vista Equity Partners-backed software company struggles with a high debt load and negative cash flow.

S&P cuts Vista-backed Solera’s credit rating further into junk

Oil prices rose slightly on Tuesday, supported by instability in the Middle East as well as China's stimulus plans and data, although global growth concerns, US tariffs and Russia-Ukraine ceasefire talks curbed gains.

Oil gains on Mideast risks, China stimulus plan and data

2024 was a good year for Malaysia’s economy. The World Bank raised its growth forecast to 4.9%, a solid 14% jump from earlier projections. Growth surged beyond expectations, inflation remained moderate and investments boomed.

Unlocking new growth drivers: Services, subnational, sustainability

The recording of former prime minister Datuk Seri Ismail Sabri Yaakob’s statement at the Malaysian Anti-Corruption Commission (MACC) headquarters over allegations of corruption and money laundering has been postponed to Wednesday.

MACC's questioning of Ismail Sabri postponed to tomorrow

Volkswagen's Audi will cut up to 7,500 jobs in Germany by 2029 in areas like administration and development, the premium carmaker said on Monday, the latest German auto industry player to reduce costs.

Volkswagen's Audi to cut 7,500 jobs in administration, development by 2029

The bank at the centre of Vietnam's biggest financial fraud has received a central bank bailout amounting 5% of the nation's 2024 economic output, which a local white knight hopes to repay in 15 years, documents seen by Reuters show.

Vietnam developer proposes 15-year rescue for bank at heart of giant fraud, documents show

Home-grown electronics firm Creative Technology has retrenched about 40 staff, or 14% of its workforce, as the tech layoff wave continues its rampage, The Straits Times has learnt.

Creative Technology cuts workforce, adding to global wave of tech layoffs — report

Indonesian equities tumbled on Tuesday, triggering a trading halt, as concerns about a weakening economy and softer consumer spending ahead of the Eid holiday weighed on sentiment.

With decades of governance experience across various levels, Gobind Singh Deo steps into his new role as national chairman of the Democratic Action Party (DAP) at a pivotal time in Malaysia’s political landscape.

Gobind takes helm of DAP, carrying forward father’s legacy

US President Donald Trump said he would look to counter China’s economic advantage from coal-based electricity by authorising his administration to ramp up production of energy from the fossil fuel.

Trump says he’s authorising administration to produce coal power

US Commerce department bureaus informed staffers in recent weeks that Chinese artificial intelligence model DeepSeek is banned on their government devices, according to a message seen by Reuters and two people familiar with the matter.

US Commerce department bureaus ban China's DeepSeek on govt devices — Reuters

Hong Kong shares rose to three-year highs and led Asian markets higher on Tuesday, as investors turn positive on the outlook for the world's second-biggest economy and cheered recent data and promises to further support consumption.

Hong Kong stocks and kiwi rise on China outlook

A trade war sparked by US President Donald Trump's tariffs may drive up global inflation, stoke market volatility and slow economic growth, the CEOs of two top Australian banks said on Tuesday, but added Australia was insulated from the disruption.

Australian bank CEOs say Trump 'tariff madness' may drive up global inflation

Israeli air strikes in Gaza killed at least 200 people, Palestinian health authorities said, as attacks hit dozens of targets early on Tuesday, ending a weeks-long standoff over extending the ceasefire that halted fighting in January.

US President Donald Trump nominated Federal Reserve governor Michelle Bowman to the central bank's top regulatory post as vice-chair for supervision where she is expected to oversee an agenda of relaxed rule-writing and bank oversight.

Trump nominates US Fed governor Bowman as vice-chair for supervision

China hasn’t imported liquefied natural gas from the US for 40 days, the longest gap in almost two years, as traders are forced to divert shipments elsewhere to avoid Beijing’s tariffs on the super-chilled fuel.

China halts US LNG imports as trade war reroutes deliveries

President Donald Trump said Chinese leader Xi Jinping would visit Washington soon, as trade tensions build between the world’s two largest economies.

Trump says Xi will visit Washington in ‘not too distant future’

Gold prices scaled a record peak above the crucial US$3,000-mark on Tuesday for the second time within a week, as investors sought cover from economic concerns fuelled by US President Donald Trump's tariff policies.

Gold hits record high as tariff uncertainty fuels safe-haven demand

Britain's Labour government will announce plans on Tuesday to cut the amount spent on supporting people with disabilities and long-term health conditions, seeking to tame a sharply rising welfare bill despite unrest among some of the party's lawmakers.

UK to cut welfare payments in bid to address spiralling costs

Google-parent Alphabet is in advanced negotiations to buy Israeli cybersecurity company Wiz with an offer of more than US$30 billion (RM133.3 billion), according to a source familiar with the matter, marking its largest potential acquisition to date.

Alphabet back in talks to buy Israel's Wiz for over US$30b — Reuters

Pacific Investment Management Co is increasingly negative on the outlook for German government bonds as the country edges close to a crucial pivot toward more public spending.

Pimco turns more negative on German bonds ahead of debt vote

SmartBiz became the first financial-technology firm to receive regulatory approval to be a bank since President Donald Trump took office in January, a regulatory signal that other fintechs could also get the green light to cement their footholds in the financial-services industry.

SmartBiz is first fintech to become bank under Trump

2024 was a good year for Malaysia’s economy. The World Bank raised its growth forecast to 4.9%, a solid 14% jump from earlier projections. Growth surged beyond expectations, inflation remained moderate and investments boomed.

A growing share of US consumers say they’re not seeking loans because they expect to be refused amid tight credit conditions, according to data from the Federal Reserve Bank of New York.

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