The proposed disposal of a 33% stake in Boustead Plantations Bhd (BPlant) by the Armed Forces Fund Board (LTAT) and Boustead Holdings Bhd to Kuala Lumpur Kepong Bhd (KLK) has fallen through, sources told The Edge.

RM1.15 bil Boustead-KLK deal falls through, say sources; govt seeks RM2 bil to 'save' LTAT

(Oct 3): The drag on oil demand in China, Europe and the US is weighing heavily on crude prices, capping the potential gains from OPEC+ supply cuts, Citigroup Inc. analyst Ed Morse says.

China is cutting back purchases of expensive crude and exporting more high-value refined products as...

Drag on oil demand in China and US is limiting rally, Citigroup’s Morse says

(Oct 3): WeWork Inc. skipped interest payments due on five of its bonds, kicking off a 30-day grace period before a default.

The co-working firm withheld US$37.3 million of cash and US$57.9 million of in-kind payments, according to a regulatory filing. It said it had enough liquidity to...

WeWork skips bond interest payments, enters 30-day grace period

(Oct 3): Delta Air Lines Inc. has discovered unapproved components in “a small number” of its jet aircraft engines, becoming the latest carrier and fourth major US airline to disclose the use of fake parts.  

The suspect components — which Delta declined to identify — were found on...

Delta says some of its jet aircraft engines used fake parts

NEW YORK (Oct 3): MSCI's global index of stocks kicked off fourth-quarter trading with a decline as U.S. Treasury yields and the dollar rose while investors worried that rates would stay higher for longer.

While a short-term spending deal averted a partial U.S. government shutdown, the ...

Global stock index dips while bond yields, dollar climb

NEW YORK (Oct 3): The S&P 500 ended nearly flat on Monday with utilities falling sharply and investors weighing the likelihood the Federal Reserve will need to hold interest rates higher for longer.

The Nasdaq rose, and shares of Nvidia gained 2.9% after Goldman Sachs added the chip...

S&P 500 ends near flat; utilities drop, focus on rate outlook

NEW YORK (Oct 3): A defiant Donald Trump attacked New York's attorney general and the judge overseeing his civil fraud trial as it began on Monday, with a state lawyer accusing the former president of generating more than $100 million by lying about his real estate empire.

Attorney Gene...

Trump reaped over US$100 million through fraud, New York says as trial starts

(Oct 3): ByteDance is buying back shares from U.S. employees in a deal that values the TikTok parent company at $223.5 billion, about 26% lower than the valuation it hit in a similar transaction a year earlier, the Information reported on Monday.

The company is looking to buy at least $...

ByteDance's valuation slumps to US$223.5 billion in stock buyback - The Information

(Oct 3): Payments processor Visa on Monday launched a $100 million venture fund for generative artificial intelligence (AI) startups, joining a list of investors who have flocked to the sector this year.

Several high-profile names such as Microsoft and Alphabet's Google have backed the ...

Visa launches US$100 million venture fund for generative AI startups

KUALA LUMPUR (Oct 3): An arbitral tribunal in Paris has ruled in favour of Malakoff Corp Bhd in its dispute with its business partner, state-owned Algerian Energy Company SPA (AEC), in relation to a seawater desalination plant in Tlemcen, Algeria.

In a bourse filing, Malakoff said the t...

Malakoff wins arbitration against state-owned Algerian firm in dispute involving water plant

The Nasdaq rose on Monday, boosted by gains in growth stocks as investors awaited commentary from more Federal Reserve officials and economic data this week to gauge the central bank's interest-rate path.

Nasdaq rises on boost from growth stocks; Fed comments in focus

Microsoft chief executive Satya Nadella called the idea that it is easy to change defaults on computers and smartphones as "bogus" as he took the witness stand on Monday in the US Justice Department's once-in-a-generation antitrust fight with Alphabet's Google.

Microsoft CEO calls Google mobile search argument 'bogus' 

Sapura Energy Bhd announced that two of its wholly owned subsidiaries, namely Sapura Fabrication Sdn Bhd (SFSB) and Sapura Offshore Sdn Bhd (SOSB), were served with separate notices of arbitration. The arbitration notices involve disputes with Brunei Shell Petroleum Company Sdn Bhd (claimant).

Sapura Energy's wholly owned subsidiaries served with notices of arbitration from Brunei Shell Petroleum Co

The central argument for buying shares in highly valued Big Tech companies this year — unmatched prowess in generating earnings — is starting to look prescient.

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