Blackstone has said it has closed a €9.8 billion (US$10.8 billion or RM48.2 billion) European property fund, as it bets on signs of recovery for the sector despite deepening market turmoil.

Blackstone gears up for US$11b European property buying spree

The owner of London's landmark "Can of Ham" building has rejected a higher offer from Blackstone of about 330 million pounds (US$426.92 million) for the property, with Nuveen betting on an improving appetite for European real estate assets, a source close to the matter said.

Blackstone's higher US$427 mil offer for London's 'Can of Ham' tower rejected, source says

BlackRock is betting on an expanded range of retail-focused products, including more exchange-traded funds (ETFs), to attract a new generation of Europeans into investing, an executive said, as it tries to outcompete local rivals slowly gaining ground.

BlackRock bets on consumer push as it chases European savers

Schroders outlined plans to cut £150 million (US$194 million) from its costs over the next three years in a strategy update on Thursday aimed at rebooting flagging performance at the 221-year-old British money manager.

Schroders outlines nearly US$200m in cost cuts in revamp

Bosses from global financial firms pressed Britain's finance minister Rachel Reeves on Wednesday to improve tax incentives for UK consumers to invest and to boost UK competitiveness, four sources briefed on the discussions told Reuters.

Finance bosses press UK's Reeves to ease investment taxes, Reuters reports

The roll-out of looser mortgage rules across several European countries has raised the risk of loan defaults and is a negative for lenders' credit profile over the long term, credit ratings agency Moody's said on Tuesday.

Looser mortgage rules in Europe raise risks for lenders, warns Moody's

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

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 

Prime Minister Pedro Sanchez said Spain will boost defence spending to 2% of economic output in 2025, or four years earlier than previously planned, as Nato nations come under growing US pressure to invest more in their security.

Spain plans to hike defense spending to 2% of GDP this year

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

Northrop Grumman Corp reported first-quarter profit that missed analysts’ expectations and cut its earnings forecast for the year as costs mounted for its next-generation B-21 stealth bomber.

Northrop Grumman cuts earnings outlook on B-21 Bomber costs

Solar photovoltaic (PV) module manufacturers in Malaysia owned by China-based players could face the risk of being phased out due to the latest US-imposed duties on solar imports from the country, an industry group representing the sector said.

New US tariffs on solar imports threaten to phase out Chinese solar panel makers in Malaysia

Thailand’s Prime Minister Paetongtarn Shinawatra has ruled out an imminent cabinet shakeup amid reports of a growing rift between her ruling party and its biggest coalition partner.

Thai PM rules out cabinet shakeup amid signs of coalition rift

Malaysia should brace for potential US recession and slowdown of China that will drag on the global economy this year, OCBC warned on Tuesday.

Malaysia should brace for potential US recession, China slowdown, says OCBC

The Royal Malaysian Police (PDRM) plans to nab&nbsp;another ‘Tan Sri’ for questioning&nbsp;in connection with the MBI ponzi scheme, following a second round of arrests from April 18 to 21 and the seizure of RM347 million in assets, according to sources.

Police to nab third ‘Tan Sri’ for questioning, following fresh arrests and RM347m seizure in MBI case — sources

Solar photovoltaic (PV) module manufacturers in Malaysia owned by China-based players could face the risk of being phased out due to the latest US-imposed duties on solar imports from the country, an industry group representing the sector said.

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

THE recent Putra Heights gas pipeline explosion has affected the livelihood of 469 families and disrupted the operations of nearly 300 companies whose gas supply has been cut.

While the cause of the April 1 blaze is being investigated, a number of firms have been forced to halt producti...

Putra Heights gas blast leaves its mark on businesses

The Ministry of Transport (MOT) is studying a more structured mechanism regarding port charges to ensure the sustainability of the country's ports as well as a balance between market needs and capacity development.

Transport Ministry floats plan for phased 30% increase in port tariff

Shares of TMD Energy Ltd, a 66.39% subsidiary of Straits Energy Resources Bhd (KL:STRAITS), rose by as much as 26.76% on its first day of trading on the New York Stock Exchange (NYSE) American.

TMD Energy opened at US$3.26 on Monday (April 21), and hit an intraday high of US$4.12, before it pared its gains to close at US$3.63, an 11.69% premium over the initial public offering (IPO) price of US$3.25 per share.

Straits Energy’s TMD ends NYSE American debut at 12% premium to IPO price

The cargo division of Malaysia Aviation Group, MAB Kargo Sdn Bhd (MASkargo), together with Qatar Airways Cargo and IAG Cargo, plan to launch a global cargo joint business to improve service, speed, connectivity, routes, efficiency and safety in air freight.

MASkargo, Qatar Airways Cargo and IAG Cargo plan joint cargo business

Global paper manufacturer Zhejiang Jingxing Paper Joint Stock Co Ltd is set to expand its manufacturing operations in Banting, Selangor, with a RM1.9 billion investment.

Shenzhen-listed Zhejiang Jingxing Paper invests RM1.9 bil to expand Malaysian operations

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

The dragon carving souvenir recently presented to Chinese President Xi Jinping was a personal gift and not an official government representation, Transport Minister Anthony Loke Siew Fook said.&nbsp;

Loke: Dragon souvenir for Xi a personal gift, should not be blown out of proportion

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.

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

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.

DESPITE volatile market conditions, telecommunications infrastructure provider Reach Ten Holdings Bhd is pushing ahead with its initial public offering in May — the first Main Market IPO of a Sarawak-based company in 15 years.

Managing director Leo Chin Yu Lay says the primary objective...

Reach Ten defies volatile market in Sarawak’s first Main Market IPO in 15 years

Minister of Natural Resources and Environmental Sustainability Nik Nazmi Nik Ahmad said a carbon tax, which is expected to be imposed on the iron, steel, and potentially energy sectors, from next year should start low before gradually being increased.

Nik Nazmi says carbon tax should start low to gauge its impact

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

Nomura Holdings Inc&nbsp;is telling clients to stay invested through the turmoil that’s pervaded financial markets during the escalating trade tensions. With its US$1.8 billion (RM7.9 billion) acquisition of an asset management business, the Japanese brokerage is putting its money where its mouth is.

Nomura bets big on US market rebound with US$1.8b deal

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.

Iain Withers