The US Department of Education said on Tuesday it would lay off nearly half its staff, a possible precursor to closing altogether, as government agencies scrambled to meet President Donald Trump's deadline to submit plans for a second round of mass layoffs.

US Education Department to cut half its staff as Trump eyes elimination

MORNING CALL: 3/4/25

Now that the US has instituted broad tariffs worldwide, businesses will be forced to adjust - but the options to cope with the greater-than-expected levies are limited and unpalatable for companies and their customers.

Global companies face a new reality of Trump tariff chaos

The dollar slid broadly on Thursday, while the euro was steady after US President Donald Trump announced more aggressive-than-anticipated tariffs against major trading partners, jolting the markets as investors sought safe haven yen and Swiss franc.

Dollar slides as traders rush into safe havens after US tariffs

The yen was the best performer among major currencies after US President Donald Trump’s tariffs announcement boosted haven demand.

Yen outperforms major peers as Trump tariffs fuel haven bid

Apple Inc is finding itself squarely in the crosshairs of President Donald Trump’s new tariffs, even after a yearslong effort to insulate the iPhone maker from trade wars and supply chain disruptions.

Apple production hubs, including Malaysia, hit by tariffs 

KUALA LUMPUR (April 3): Malaysia has been slapped with 24% reciprocal tariff by the US effective April 9 in a sweeping trade policy hitting all of its trading partners.

Malaysia hit with 24% US reciprocal tariff effective April 9

A tariff offensive Donald Trump billed as key to America’s long-term prosperity went down badly in markets late Wednesday, setting off a rout in equities that had rallied on hopes the programme would be less draconian.

S&P 500 futures sink as bonds jump on US tariffs

The VC pilots union is breaking off talks with Germany's Lufthansa over proposed cuts, sources told Reuters on Wednesday, increasing the likelihood of strikes by cockpit crew over the course of this year.

Pilots union breaks off talks over Lufthansa's staffing plans — Reuters

Carmaker Stellantis has signed a deal with trade unions for 350 voluntary exits from its Pomigliano and Pratola Serra plants in southern Italy, the Fiom union said on Wednesday.

Stellantis agrees 350 job cuts in southern Italy with unions

US President Donald Trump has told members of his Cabinet and other close contacts that tech billionaire Elon Musk will soon step back from his cost-cutting government role, Politico reported on Wednesday, citing three people close to Trump.

Trump tells Cabinet, others that Musk will leave soon, reports Politico 

KUALA LUMPUR (April 3): Malaysia has been slapped with 24% reciprocal tariff by the US effective April 9 in a sweeping trade policy hitting all of its trading partners.

RHB Banking Group has announced a strategic organisational realignment, involving key leadership changes across five senior roles, as part of its new three-year corporate strategy (2025-2027), known as “PROGRESS27”.

RHB announces organisational realignment to drive growth

QSR Brands (M) Holdings Bhd, the operator of KFC restaurants across Malaysia, Singapore, Brunei, and Cambodia, said there are "no sales process currently being pursued or planned" by the group, and that it has been seeing encouraging signs of recovery in the first quarter of 2025 (1Q2025).

KFC operator QSR Brands says no sales process being pursued or planned

A brief recap of some corporate announcements that made the news on Wednesday.

Petronas Gas, Gas Malaysia, IJM, Rohas Tecnic, T7 Global, ICT Zone Asia, Capital A, YNH Property, OCK Group

The Construction Industry Development Board Malaysia (CIDB) has issued an apology and retracted its earlier media statement on the gas pipeline inferno in Putra Heights, Subang Jaya.

CIDB issues apology, retracts statement on devastating gas pipeline inferno

Apple Inc is finding itself squarely in the crosshairs of President Donald Trump’s new tariffs, even after a yearslong effort to insulate the iPhone maker from trade wars and supply chain disruptions.

President Donald Trump on Wednesday is set to announce the most expansive US trade restrictions in a century, at a stroke upending the postwar global trading system and posing difficult-to-predict economic risks.

Trump tariff rollout opens new era of risk for global economy

Malaysia is working towards expanding its flight connectivity to Europe, said Transport Minister Anthony Loke.

Malaysia to expand flight connectivity to Europe — Loke

A tariff offensive Donald Trump billed as key to America’s long-term prosperity went down badly in markets late Wednesday, setting off a rout in equities that had rallied on hopes the programme would be less draconian.

Now that the US&nbsp;has instituted broad tariffs worldwide, businesses will be forced to adjust - but the options to cope with the greater-than-expected levies are limited and unpalatable for companies and their customers.

US stock indices recovered from morning losses to trade modestly higher on Wednesday as investors awaited US President Donald Trump's sweeping tariff announcements.

Wall Street steadies ahead of Trump's tariff plans

The dollar slid broadly on Thursday, while the euro was steady after US President Donald Trump announced more aggressive-than-anticipated tariffs against major trading partners, jolting the markets as investors sought safe haven yen and Swiss franc.

US President Donald Trump has told members of his Cabinet and other close contacts that tech billionaire Elon Musk will soon step back from his cost-cutting government role, Politico reported on Wednesday, citing three people close to Trump.

The Malaysian Communications and Multimedia Commission (MCMC) has recorded the statements of two main administrators of a Facebook group being used to spread information and comments believed to incite racial and religious discord that can potentially cause public unrest.

MCMC summons Facebook group admins over racially inciting content

President Donald Trump has launched an aggressive economic strategy reminiscent of the 1985 Plaza Accord, aiming to weaken the US dollar and rebalance global trade in America’s favour. Dubbed the Mar-a-Lago Accord, this initiative seeks to tackle what Trump sees as the overvaluation of the dollar — an issue he believes has contributed to America’s persistent trade deficits and weakened its manufacturing sector.

From the Plaza Accord to the Mar-a-Lago Accord: Trump’s high-stakes gamble to reshape global trade and currency markets

British Airways is partnering with Malaysia Airlines to expand its codeshare agreement, offering travellers more travel options to Europe.

British Airways, Malaysia Airlines expand codeshare, resuming Heathrow-KLIA services

Shipping companies have all-but stopped buying dry bulk commodity carriers that were built in China as the industry waits to see if President Trump will press ahead with historic port charges on vessels constructed in the Asian country.

Sales of China-built ships collapse as industry sweats over US ports plan

Tesla Inc’s vehicle sales fell 13% last quarter to an almost three-year low, as the carmaker made over its most important model and dealt with international backlash against Elon Musk.

Tesla sales drop to lowest since 2022 amid Musk backlash

The recovery work in the area of the gas pipeline blaze at Jalan Putra Harmoni, Putra Heights, Subang Jaya is currently safe as no gas content has been detected in the pipeline, said Subang Jaya district police chief Wan Azlan Wan Mamat.

Gas pipeline blaze: No more gas content detected, recovery work safe — police

When Geely listed Volvo Car AB in 2021, Li Shufu hailed the turnaround of the “tiger” that he’d bought 11 years earlier, and said the job now was to “give that tiger wings”.

Timothy Gardner, Tim Reid, Alexandra Alper & Marisa Taylor