Treasury Secretary Janet Yellen has summoned US financial regulators to discuss recent volatility in financial markets, in her first public effort to address the tumult involving GameStop Corp shares and broker-dealer Robinhood Markets Inc.

Yellen summons regulators to discuss financial market volatility

Leapmotor has struck a deal with Chinese state-owned automaker FAW to deliver an electric vehicle platform that will be used to drive overseas sales for Hongqi, an emerging national champion, executives from both companies said.

China's Leapmotor to supply EV platform to Hongqi, also in talks with Ferrari

KUALA LUMPUR (April 24): YTL Hotels has expanded its hospitality portfolio with the opening of two new properties — Moxy Kuala Lumpur Chinatown and AC Hotel by Marriott Ipoh.

YTL Hotels opens Moxy Kuala Lumpur Chinatown and AC Hotel by Marriott Ipoh

Norway's US$1.7 trillion (RM7.4 trillion) sovereign wealth fund, the world's largest, reported on Thursday a quarterly loss of 415 billion Norwegian crowns (US$39.72 billion) for the January to March period, largely driven by negative returns in the tech sector.

Norway wealth fund posts US$40b first-quarter loss on tech weakness

Singapore equities were set for an eighth straight session of gains on Thursday, marking their best winning streak since November 2022, as cooling inflation and demand for defensive stocks supported the benchmark index.

Singapore shares set for an eight-day rally; Asian FX muted 

Gucci sales tumbled in the first quarter as efforts to revive Kering SA’s biggest brand again failed to yield signs of a turnaround amid a tough period for the luxury-goods industry.

Gucci sales drop as Kering label struggles to revive demand

Abandoned housing has been a long-standing problem in Malaysia. According to the Real Estate and Housing Developers’ Association (Rehda) Institute in its recently released “Abandoned Housing — Challenges, Insights & Solutions Research Report”, the number of abandoned housing projects has been...

Stakeholder action needed to address abandoned housing issues, says Rehda Institute

China’s central bank chief Pan Gongsheng urged countries to help maintain confidence in the global economic system on a trip to the US, reiterating Chinese opposition to tariffs as American President Donald Trump signals a shift toward de-escalating tensions.

PBOC chief warns trade frictions threaten trust in world economy

Adidas AG reported better-than-expected earnings in the first quarter as consumers continue to snap up retro sneakers like the Samba in the face of growing economic uncertainty.

Adidas earnings bolstered again by retro sneaker craze

KUALA LUMPUR (April 24): The special sitting of Dewan Rakyat on May 5 to discuss the impact of the United States’ actions on the Malaysian economy will be held at the request of Prime Minister Datuk Seri Anwar Ibrahim.

Dewan Rakyat special sitting on May 5 held at PM’s request — Parliament

Rising tariffs and the weakening dollar are casting a shadow on companies’ profit guidance this earnings season, with more damage seen unfolding over the coming quarters.

US dollar’s slide raising red flags for corporate earnings

A surge of complaints emerged on Thursday evening from investors across Bursa Malaysia, reporting that their accounts have been hacked and used for unauthorised trading activities.

Widespread hacks hit stock trading accounts in Malaysia

Datuk Muzaffar Hisham has resigned from his position as Malayan Banking Bhd’s (KL:MAYBANK) group chief executive officer of Islamic banking to helm Bank Pembangunan Malaysia Bhd (BPMB), according to sources.

Muzaffar Hisham leaves Maybank's Islamic arm, said to be headed for top role at Bank Pembangunan

Magma Group Bhd (KL:MAGMA), which is primarily in hotel management and property development, announced the emergence of several new substantial shareholders on Thursday, including former national badminton player Datuk Wira Lee Chong Wei.

Lee Chong Wei among Magma's newly emerged substantial shareholders after land deal

Crypto’s richest man, Changpeng Zhao, was in a playful mood as he addressed a packed house at the Ritz-Carlton in Kuala Lumpur, just seven months after his release from a low-security California prison.&nbsp;

In KL, Binance billionaire Zhao guides regulators to relax crypto rules

IGB Real Estate Investment Trust (KL:IGBREIT) and IGB Commercial Real Estate Investment Trust (KL:IGBCR) will see their former group chief financial officer Chai Lai Sim return from retirement to take the helm at both REITs.

IGB REITs bring former CFO Chai Lai Sim out of retirement as new CEO

Pantech Global Bhd announced a special dividend of one sen after its fourth quarter net profit jumped 373% from the previous quarter, driven by a gain on bargain purchase and two months of earnings from newly acquired companies.

Pantech Global declares special dividend after gain on bargain purchase

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

ViTrox, Unisem, Atlan, Luxchem, Pantech Global, Chin Hin, Ajiya, Binastra, Magma, IGB REIT, IGB Commercial REIT, Steel Hawk, Perdana Petroleum

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Stock markets work only if they are a ‘growth enabler’, not a cashing-out machine

Two of Britain’s richest real estate investors have ditched the UK as their home territory, the latest departures among the country’s elite as the nation hits wealthy residents with tax hikes.

Top Goldman banker, property billionaires add to UK wealth exits

Businesses across multiple industries are increasing prices, cutting financial guidance and warning of growing uncertainty as US President Donald Trump's trade war pushes up costs, up-ends supply chains and stirs concerns about the global economy.

Trump trade war spreads more gloom across businesses

Wall Street's main indices jumped on Thursday, as investors welcomed a handful of positive corporate earnings and signs that the US was open to de-escalating its trade war with China.

Software firm ServiceNow and toymaker Hasbro topped the S&amp;P 500, rising 14.8% and 15.7%, respectively, after both companies reported better-than-expected quarterly results.

Wall Street turns higher on earnings, signs of softer US tariff stance

Kumpulan Jetson Bhd’s board faces a new removal attempt by minority shareholders, who claim to hold at least 10% of shares, giving them the right to call an EGM to vote on removing the board and appointing new directors.

Kumpulan Jetson’s board faces third removal attempt since December 2023

Nissan Motor sees a record net loss of ¥700 billion to ¥750 billion (US$4.91 billion-US$5.26 billion or RM21.5 billion-RM23 billion) for the financial year that ended in March, it said on Thursday, due to impairment charges as the struggling automaker restructures.

Nissan sees record loss of up to US$5.26b as restructuring bites

Construction group Binastra Corporation Bhd (KL:BNASTRA) is buying a 40.8% stake in thermal energy firm LF Lansen Sdn Bhd for RM15 million cash — which comes with a call option for the group to up its interest to a controlling 51% — to expand into the energy-efficient engineering solutions sector.

Binastra buys 40.8% stake in thermal energy firm, with an eye on gaining controlling stake

ICT Zone Asia Bhd (KL:ICTZONE) on Thursday inked an agreement with Malacca Securities Sdn Bhd and Kenanga Investment Bank Bhd to underwrite its transfer listing from the LEAP Market to the ACE Market of Bursa Malaysia.

ICT Zone sticks to 2Q ACE Market listing target, secures Malacca Securities, Kenanga IB as underwriters

Texchem Resources Bhd (KL:TEXCHEM) returned to profitability after suffering a loss in the same quarter a year ago, driven by a turnaround in its restaurant division and improved earnings across all segments, except for its industrial division.

Texchem back in the black in 1Q as restaurant division sees turnaround

Chin Hin Group Bhd (KL:CHINHIN) completed its purchase of an additional 12.27% stake in Ajiya Bhd (KL:AJIYA) for RM54.2 million, raising its stake in the building materials maker to 66.36%.

According to a bourse filing on Thursday, Chin Hin acquired the 37.38 million shares in a direct business transaction at RM1.45 apiece on Wednesday from major shareholder Yeo Ann Seck.

Chin Hin completes 12.27% stake buy in Ajiya for RM54.2 mil

Mayu Global Bhd (KL:MAYU) has redesignated its executive director Tan Kim Hee as a non-executive director, effective May 2, amid an ongoing money laundering investigation.

Mayu Global redesignates Tan Kim Hee to non-executive director amid money laundering probe

Boeing is looking to resell potentially dozens of planes locked out of China by tariffs after repatriating a third jet to the United States rather than store it without willing buyers.

The move to prevent a repeat of the costly build-up of undelivered jets seen during past fluctuations in Chinese imports comes as the planemaker redoubles efforts to save cash and pay off debt by selling off part of its services business.

Boeing ready to resell jets as tariffs hit China trade

Toyo Ventures Holdings Bhd (KL:TOYOVEN), which is disputing the termination of its Vietnam power plant project with the Vietnamese government in hopes of a resolution, announced on Thursday that the Export-Import Bank of Malaysia (EXIM Bank) is going to terminate its mandate as the exclusive lead arranger for project.

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