Mercedes-Benz has won agreement from its works council to offer buy-outs to staff and reduced planned salary increases by half, it said on Tuesday, part of a wider cost-cutting drive as the carmaker battles to revive earnings.

Mercedes-Benz to cut headcount, lower pay increases amid cost-cutting drive

SINGAPORE (March 18): Home-grown electronics firm Creative Technology has retrenched about 40 staff, or 14 per cent of its workforce, as the tech layoff wave continues its rampage, The Straits Times has learnt.

Confirming the layoffs, a company spokesman said: “Creative Te...

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

(March 18): 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.

Sachin Gupta, a fund manager at the firm, has added to an underweight position in bunds, poin...

Pimco turns more negative on German bonds ahead of debt vote

BERLIN (March 18): 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.

The planned measures, agreed on Monday by management and labour re...

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

Asia Poly Holdings Bhd (KL:ASIAPLY) has ceased to be a substantial shareholder in Ta Win Holdings Bhd (KL:TAWIN) after disposing of its entire 5.59% stake in the copper wire manufacturer  via a direct business transaction.

Asia Poly disposes of entire stake in Ta Win

President Donald Trump's tariff hikes will drag down growth in Canada, Mexico and the United States while driving up inflation, the OECD forecast on Monday, just as Trump promised to press ahead with a new wave of levies in early April.

OECD warns of tariff drag on growth as Trump vows to press on with levies

Here is a brief recap of some business news and corporate announcement that made the headlines on Monday.

MRCB, Sapura Energy, Solarvest, Salcon, Rohas Tecnic, HHRG, Jentayu, Focus Point, Catcha Digital, Poh Huat, Dutch Lady, AmanahRaya REIT

Top Philippine mobile wallet GCash could aim for at least US$8 billion (RM35.6 billion) in valuation when it goes public as soon as this year, its chairman said, as it urges regulators to ease rules to make way for its big listing.

Philippines’ GCash to seek at least US$8b IPO valuation 

US homebuilder sentiment dropped to a seven-month low in March as tariffs on imported materials raised construction costs, a survey showed on Monday.

US homebuilder sentiment drops to seven-month low in March

The Trump administration Monday insisted it had not violated a court order by expelling hundreds of alleged members of Venezuela’s Tren de Aragua gang to El Salvador for imprisonment, even as a federal judge ordered a halt to some deportations.

Trump expels hundreds under Enemies Act as court rebukes law

PepsiCo said on Monday it would buy prebiotic soda brand Poppi for US$1.95 billion (RM8.7 billion), expanding in the "healthier soda" category at a time when the company is battling falling demand for its traditional beverages and snacks.

PepsiCo to buy prebiotic soda brand Poppi for nearly US$2b

BYD Co unveiled a new system for electric cars that the Chinese automaker says will allow them to charge almost as fast as it takes a regular car to refuel.

BYD unveils battery system that charges an EV in five minutes

Malaysian Resources Corp Bhd (KL:MRCB) has struck a land swap deal with Cyberview Sdn Bhd, in which the Minister of Finance Inc owns a 92.24% stake.

MRCB strikes land deals with MOF unit 

Here is a brief recap of some business news and corporate announcement that made the headlines on Monday.

One of the 25 Malaysians rescued from a job scam syndicate in Myanmar on March 12 was arrested after police investigations revealed that he played a role in recruiting locals with the intention of scamming for big bucks.

Police grill Malaysian who head-hunted for Myanmar syndicate, say not all rescued are genuine victims

The Malaysian Anti-Corruption Commission (MACC) has given its assurance and commitment to look into any information linked to the investigation into former prime minister Datuk Seri Ismail Sabri Yaakob.

MACC chief says Ismail Sabri has a lot to answer to, vows thorough probe

Total assets of&nbsp;1Malaysia Development Bhd (1MDB) recovered so far stand&nbsp;at RM29.75 billion, or 70% of about RM42 billion believed to have been embezzled, the Malaysian Anti-Corruption Commission (MACC) said.

Over RM29b in 1MDB assets recovered, says MACC

Jentayu Sustainables Bhd (KL:JSB) said the group has aborted its acquisition of hydro assets in Sabah, more than three years after the deals were inked in September 2021.

Jentayu Sustainables’ Sabah hydro asset acquisitions mutually terminated

Malaysia will receive two sets of electric train service (ETS) trains from China next month, said Transport Minister Anthony Loke.

Loke: Malaysia to receive two ETS train sets from China next month

TT Vision Holdings Bhd (KL:TTVHB) said an article in a news portal on March 14 regarding a memorandum of understanding (MOU) the company had signed with Wawasan Open University (WOU) could have contributed to the sharp rise in its share price that day.

TT Vision refers to MOU with Wawasan Open University in response to UMA query

Focus Point Holdings Bhd (KL:FOCUSP) has proposed a one-for-three bonus issue, alongside a dividend reinvestment plan (DRP) and a share grant plan (SGP), aimed at enhancing shareholder value and incentivising employees.

Focus Point proposes one-for-three bonus issue

Parties not involved in the negotiations between Petroleum Nasional Bhd (Petronas) and Sarawak's state-owned oil and gas company, Petroleum Sarawak Berhad (Petros) on gas distribution in the state are urged to not make any assumption on the matter.

DPM Fadillah: Stop speculating on Petronas-Petros talks

Wall Street's main indexes edged higher in choppy trading on Monday following the latest batch of economic data even as investors try to gauge the impact of the Trump administration's tariffs on the world's largest economy.

Wall Street inches higher after retail sales data

Asia Poly Holdings Bhd (KL:ASIAPLY) has ceased to be a substantial shareholder in Ta Win Holdings Bhd (KL:TAWIN) after disposing of its entire 5.59% stake in the copper wire manufacturer&nbsp; via a direct business transaction.

Hong Kong property magnate Lee Shau Kee, one of the city's richest men, died on Monday at the age of 97, Henderson Land, the group that he founded, said in a statement.

Lee Shau Kee, founder of Henderson Land Group, dies at 97 

UBS' auditors have expressed an "adverse opinion" on the bank's internal controls over its financial reporting for 2024 after it failed to resolve issues related to misstatements inherited from Credit Suisse, the Swiss lender said on Monday.

UBS' auditor warns over bank's financial reporting controls

Rohas Tecnic Bhd (KL:ROHAS) has entered into a binding term sheet with South Korea-based Korea Water Resources Corporation (K-water) to sell its 30%-owned Vietnamese unit Phu My Vinh Construction and Investment Corporation (PMV) for RM87.14 million.

Rohas Tecnic to divest Vietnamese water infra subsidiary for RM87m

Turkey is planning new rules to rein in the dominance of major tech firms, imitating the European Union’s regulatory approach at the risk of provoking US retaliation.

Turkey plans new big tech regulations that risk clash with US

BERLIN (March 18): 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.

The planned measures, agreed on Monday by management and labour re...

The United States reported the first outbreak of the deadly H7N9 bird flu on a poultry farm since 2017, as the country continues to grapple with another bird flu strain that has infected humans and caused egg prices to hit record highs.

US reports first outbreak of deadly H7N9 bird flu since 2017

Wall Street’s infamous dark pools are getting even darker.

Ludwig Burger & Victoria Waldersee