KUALA LUMPUR (June 2): Tesla Inc CEO Elon Musk has reclaimed the title of the planet’s richest man after a six-month hiatus, with a total wealth of US$195 billion, pushing Frenchman Bernard Arnault to second spot with US$187 billion.

Elon Musk knocks Bernard Arnault off the perch to reclaim top spot

KUALA LUMPUR (June 2):  Kenanga Research is projecting  CY23F FBM KLCI earnings to contract by 1.2% (from +10.5%) and has lowered its end-2023 FBMKLCI target to 1,480 points (from 1,610 points).

In a 1QCY23 Report Card note on Friday (June 2), the research house said corporate...

Kenanga Research projects  CY23F FBM KLCI earnings to contract by 1.2%

SYDNEY (June 2): Australia's independent wage-setting body said on Friday it would raise the minimum wage by 5.75% from July 1, as families grapple with soaring living costs.

The lowest-paid employees will receive A$22.61 ($15.34) an hour from July 1, according to Reuters calculations b...

Australia raises minimum wage by 5.75% as living costs surge

KUALA LUMPUR (June 2):  Hong Leong Investment Bank (HLIB) Research has maintained its “Sell” rating on Velesto Energy Bhd at 23 sen with an unchanged target price (TP) of 19 sen after Velesto announced that it has received a job win for the provision of jack-up drilling rigs for Vestigo Petr...

HLIB Research says Velesto's valuations have become inflated

Corporate Malaysia handed in a largely disappointing first quarter earnings report card, which reflected general weakness in the economy, dragged by slowing external demand, with little help seen from the much-anticipated reopening of China.

More companies reported earnings that were below expectations in the January to March period of this year compared with the previous quarter, while there were fewer companies that managed to surprise with better-than-expected results, said Fortress Capital Asset Management chief executive officer Thomas Yong

Malaysia's corporate profits disappoint on slowing demand, with little help from China reopening

NEW YORK (June 2): Elon Musk is being accused of insider trading in a proposed class action by investors accusing the Tesla Inc CEO of manipulating the cryptocurrency Dogecoin, costing them billions of dollars.

In a Wednesday night filing in Manhattan federal court, investors said Musk ...

Elon Musk is accused of insider trading by investors in Dogecoin lawsuit

(June 2): Russia’s main security service accused a US intelligence agency of hacking several thousand iPhones, including devices belonging to Russian nationals and others linked to diplomatic missions and embassies in the country.

The statement from Russia’s Federal Security Service, kn...

Russia accuses US intelligence of hacking thousands of iPhones

(June 2): Apple Inc. is working on plans to expand and revitalize its retail chain, aiming to push deeper into China and other parts of Asia while overhauling established locations in the US and Europe.

Through 2027, the iPhone maker is discussing opening 15 new stores across the Asia-P...

Apple plans major retail push with new stores across China, US

(June 2): The Nasdaq and S&P 500 surged to nine-month closing highs on Thursday as signs of slowing wage pressure raised hopes the Federal Reserve will pause hiking interest rates and investors cheered a vote in Congress to suspend the U.S. debt ceiling.

The number of Americans fili...

Wall Street rises on hopes of Fed pausing hikes, debt ceiling deal cheer

NEW YORK (June 2): Global equities rose on Thursday after the U.S. House of Representatives passed a bill to raise the federal debt ceiling, while U.S. Treasury yields fell as data reflected a cooling labor market that reduces the possibility of an interest rate hike by the Federal Reserve.A bill...

Global equities rise, U.S. yields fall after debt ceiling bill advances

COLORADO SPRINGS, Colorado (June 2): President Joe Biden tripped and fell after handing out the last diploma at a graduation ceremony at the U.S. Air Force Academy on Thursday, but got up quickly and walked back to his seat.

The 80-year-old U.S. president fell forward, caught himself wi...

Biden trips and falls during graduation ceremony, recovers quickly

NEW YORK (June 2): Goldman Sachs Group Inc plans to cut more jobs as a difficult economic environment weighs on dealmaking and trading revenue may slump 25% this quarter, the bank's president said on Thursday.

"The macro backdrop is extraordinarily challenging," Goldman's president and ...

Goldman Sachs to cut more jobs, eyes sharp fall in markets revenue

US stock indexes rose by midday trading on Thursday as investors cheered passage of a bill by lawmakers to suspend the nation's debt ceiling amid bets that the Federal Reserve will skip raising interest rates in its next meeting.

Investors also looked on economic indicators, including the ADP National Employment Report that showed more-than-expected jobs additions in May, while a separate reading said weekly jobless claims increased modestly, both suggesting the labour market's resilience.

Wall St rises on debt ceiling deal cheer, hopes of Fed pause

Iskandar Investment Bhd (IIB) has recorded US$6.8 billion worth of investments since its incorporation in 2006 until last year, Johor Menteri Besar Datuk Onn Hafiz Ghazi said.

He said, in fact IIB, which is an investment holding company to catalyse the strategic development of Iskandar Malaysia, had created 10,000 job opportunities during that period.

Iskandar Investment records US$6.8 bil worth of investments since 2006 — Onn Hafiz

Panasonic Malaysia, Affin Hwang Investment, Velesto Energy, Green Packet, Top Builders Capital, Star Media, Citaglobal, AME Elite, SCIB, UP, Meta Bright, Top Builders, Kimlun and Synergy House

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