Private equity group Presidio Investors has purchased Italian football club Hellas Verona, the latest US firm to target a team in the country’s world-class Serie A league.

Austin, Texas-based Presidio bought Verona from owner Maurizio Setti, who’s chaired the team for the past 13 seasons, according to a statement on Thursday.

Texas-based Presidio buys Italy’s Hellas Verona football team

A group of investors being advised by Maverick Carter, Los Angeles Lakers star LeBron James’ business partner, is seeking to raise US$5 billion (RM22.5 billion) from private capital sources to form an international basketball league to rival the National Basketball Association, according to people familiar with the matter.

Investors seek US$5b for basketball league to rival NBA

Singapore Airlines has renewed its title sponsorship of the Formula 1 Singapore Grand Prix for another four years, through to the 2028 edition.

Singapore Airlines renews F1 Grand Prix title sponsorship for four years

Five-time Olympic champion Hungarian gymnast Agnes Keleti, the world's oldest living Olympic gold medallist and a survivor of the persecution of Jews in World War Two, died at the age of 103 on Thursday, the Hungarian Olympic Committee (HOC) said.

World's oldest living Olympic gold medallist Agnes Keleti dies at 103

Two sailors died after being struck by sail booms in separate incidents during the annual Sydney to Hobart yacht race as crews grappled with treacherous conditions across the notorious Bass Strait.

Two dead in Sydney-Hobart yacht race after being struck by sail booms

Formula 1 owner Liberty Media Corp’s US$3.8 billion (RM16.9 billion) plan to buy motorcycle racing league MotoGP World Championship is set to be hit by an in-depth European Union probe, in the first escalation of a big merger case by new antitrust chief Teresa Ribera.

F1 owner’s US$3.8b MotoGP deal faces full-scale EU probe

(Dec 5): An American consortium has agreed to buy Sheffield United, one of the biggest English football teams outside the Premier League.

Resilience Capital Partners co-founder Stephen H Rosen and Helmy Eltoukhy, chairman of biotech firm Guardant Health Inc, signed a deal with Sheffield...

Sheffield United is latest football club to be taken over by Americans

The Badminton Association of Malaysia (BAM) has confirmed that officers of the Malaysian Anti-Corruption Commission (MACC) visited its office last week to request certain information.

BAM confirms MACC visit to request 'certain information'

Manchester United on Tuesday reported a smaller adjusted net loss for the first quarter of 2025, helped by cost cuts and benefits from favourable exchange rates.

Manchester United posts smaller first-quarter loss on cost cuts

Real Madrid, the 15-time European football champion, is seeking a major corporate shake-up that would hand over ownership to club members, effectively opening the door to third-party investors.

Real Madrid chairman aims to change club’s ownership model

Netflix said on Saturday that 60 million households worldwide had tuned in for the highly anticipated boxing match between Jake Paul and Mike Tyson, and the event peaked at 65 million streams, according to a statement.

Netflix says 60 mil households worldwide tuned in for Paul-Tyson match

A total of RM10 million from the RM20 million allocated for the development of the e-sport ecosystem under Budget 2025 will be used for constructing a new e-sport stadium.

Zahid: New e-sport stadium for RM10m under Budget 2025

Thailand’s Digital Economy and Society (DES) Ministry has established a special team to crack down on illegal online betting activity ahead of the start of the UEFA European Football Championship, or Euro 2024, according to a report in industry magazine Inside Asian Gaming (IAG).

Thailand sets up special squad to crack down illegal online betting ahead of Euro 2024 — report

Petroliam Nasional Bhd (Petronas) has denied a news report that it is looking to bring back Formula One (F1) races to Malaysia in 2026.

Petronas denies working to bring back F1 race to Malaysia in 2026

Johnson & Johnson, fresh off a US$14.6 billion (RM65.38 billion) deal to buy neurological drugmaker Intra-Cellular, reported fourth-quarter (4Q) revenues and profit above Wall Street estimates on Wednesday, driven by strong sales of its cancer treatments.

J&J has been on an acquisition spree to boost its drugs and device businesses after spinning off its consumer unit in 2023.

J&J beats quarterly sales and profit estimates on cancer drug sales

The ceasefire agreement that paused the war between Israel and the Hezbollah militia in Lebanon will likely be extended when it expires next week, according to several people familiar with the matter.

The Iran-backed group and the Israelis are unlikely to resume full-scale fighting despite needing more time to implement the original terms of the truce, which started in late November, according to Lebanese, Israeli and French government officials involved in ongoing talks.

Israel-Hezbollah ceasefire set to be extended beyond next week

Türkiye has detained 11 people as part of an investigation into a fire that killed 76 people and injured dozens at a ski resort in the Bolu mountains, Justice Minister Yilmaz Tunc said on Wednesday.

A deputy mayor of the northwestern Bolu province, the head of the municipality's fire department, the owner and the manager of the hotel were among those detained, Tunc said on X.

Türkiye detains 11 over ski resort hotel fire that killed 76

US President Donald Trump on Wednesday threatened Russia "and other participating countries" with taxes, tariffs and sanctions if a deal to end the war in Ukraine is not struck soon.

Without a deal, Trump said in a post on Truth Social, "I have no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating countries."

Trump threatens Russia, others with sanctions if Ukraine deal not reached

Amazon.com Inc will shut down all warehouses and lay off employees in the French-speaking Canadian province of Quebec.

“Following a recent review of our Quebec operations, we’ve seen that returning to a third-party delivery model supported by local small businesses, similar to what we had until 2020, will allow us to provide the same great service and even more savings to our customers over the long run,” said Amazon spokesperson Barbara Agrait in an emailed statement.

Amazon to close warehouses in Quebec, slashing 1,900 jobs

Gold prices soared to near three-month highs on Wednesday, trading below its record peak, fuelled by a soft dollar and lack of clarity around US President Donald Trump's policy plans, which investors fear could trigger trade wars and elevate market volatility.

Spot gold added 0.3% to US$2,753.79 per ounce as of 9.45am ET (1445 GMT). Prices were at their highest since Oct 31 when they hit their all-time-high of US$2,790.15.

Trump uncertainties push safe-haven gold to near all-time highs

Export-Import Bank of Malaysia Bhd (EXIM Bank) has filed a lawsuit against instant coffee manufacturer Power Root Bhd (KL:PWROOT), seeking RM7.39 million over insurance claim payout dispute. 

According to Power Root’s filing with Bursa Malaysia on Wednesday, EXIM Bank is demanding repayment of RM675,509.22 disbursed to its subsidiaries, namely Power Root (M) Sdn Bhd (PRM), Power Root Manufacturing Sdn Bhd (PRMFG), and Power Root ME Free Zone Company (PRME).

Power Root sued by EXIM Bank over insurance claim payout 

Asean is progressing cautiously on Myanmar as it is critical to secure peace in the country, said Malaysian Prime Minister Datuk Seri Anwar Ibrahim.

He said Asean’s approach is not about enforcing a particular system but ensuring inclusivity and peace as well as the importance of participatory democracy.

Asean takes cautious approach on Myanmar, critical to secure peace — Anwar

Sustainability can sometimes be seen as a concept only achievable by those with resources, but it can also be practised by smallholders and bring about financial benefits, according to the Roundtable on Sustainable Palm Oil (RSPO).

According to RSPO, 85% of oil palm plantation owners ar...

Agriculture: Sustainable palm oil practices in Surat Thani province

KPMG International’s Survey of Sustainability Reporting 2024, published in December, highlights that sustainability reporting has become a routine part of business operations for nearly all of the top 100 companies in each country. Notably, Malaysia is among seven countries where all top 100 companies report on their sustainability efforts.

Top global companies make sustainability reporting part of core practice

Arina, Sime Darby Property Bhd’s (KL:SIMEPROP) first single-storey linked homes in Bandar Ainsdale, achieved full take-up of all 118 units within hours of its launch on Saturday, Jan 18.

Sime Darby Property’s Arina single-storey homes in Bandar Ainsdale fully taken up within hours of launch

Export-Import Bank of Malaysia Bhd (EXIM Bank) has filed a lawsuit against instant coffee manufacturer Power Root Bhd (KL:PWROOT), seeking RM7.39 million over insurance claim payout dispute.&nbsp;

According to Power Root’s filing with Bursa Malaysia on Wednesday, EXIM Bank is demanding repayment of RM675,509.22 disbursed to its subsidiaries, namely Power Root (M) Sdn Bhd (PRM), Power Root Manufacturing Sdn Bhd (PRMFG), and Power Root ME Free Zone Company (PRME).

HSBC Bank Malaysia Bhd has officially opened its flagship wealth centre in&nbsp;Menara IQ at the Tun Razak Exchange (TRX), Malaysia’s international financial hub,&nbsp;to serve its high-net-worth clients.

HSBC Malaysia opens flagship wealth centre at TRX to serve high-net-worth clients

SRC International Sdn Bhd’s former director Datuk Suboh Md Yasin told the High Court on Wednesday that he signed four blank cheques that led to RM19.5 million going to Umno and Umno Selangor.

Former SRC director says he signed blank cheques, didn’t know payments were to Umno

KUALA LUMPUR (Jan 22): Bank Negara Malaysia (BNM) on Wednesday kept the benchmark interest rate unchanged as widely expected, comfortable with its outlook for sustained economic growth and manageable inflation.

BNM keeps OPR steady, takes comfort in sustained growth

The public portion of ACE Market-bound Northern Solar Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 73.2&nbsp;times.&nbsp;

Northern Solar's IPO oversubscribed by 73.2 times

Datuk Seri Najib Razak denies seeking royalties from the Middle East to help stepson Riza Aziz over his alleged entanglement with 1Malaysia Development Bhd (1MDB) funds, the court heard on Wednesday.

Najib says stepson was already servicing loan from Emerati prince, phone call only to formalise agreement

Former prime minister Datuk Seri Najib Razak claimed that he was being prosecuted for "being transparent" on how he spent the purported donation from the Middle East.

The now-imprisoned 71-year-old, said that he could have easily utilised the donation monies in the form of cash but did not do so and specifically used cheques because he knew it would be documented.

1MDB-Tanore trial: Najib denies abusing funds, says used cheques to be 'transparent'

The&nbsp;industrial subsector&nbsp;is expected to continue&nbsp;its positive trend&nbsp;in 2025,&nbsp;according to&nbsp;Henry Butcher Malaysia&nbsp;chief operating officer Tang Chee Meng. The Henry Butcher Perspective — Malaysia Property Outlook 2025 report, which was&nbsp;launched&nbsp;on Wednesday, noted that&nbsp;the&nbsp;volume of industrial transactions in the first nine months of 2024 (9M2024)&nbsp;increased by 6.5%, while the value rose 22.8%.

Henry Butcher: Malaysia's industrial subsector to continue strong performance

Malaysia’s international reserves fell by US$700 million by mid-January this year, from a fortnight earlier, according to Bank Negara Malaysia (BNM).

BNM: Malaysia’s international reserves down to US$115.5b as at mid-January

Investors looking for opportunities in Malaysia are recommended to look beyond data centre-related stocks and proxies to artificial intelligence (AI), amid the US restriction on AI chip exports, said Manulife Investment Management (Manulife IM).

Look beyond Malaysian proxies of data centres, says Manulife IM

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

Sunway, CapitaLand Malaysia Trust, Sentral REIT, AME REIT, Jentayu, Power Root 

KUALA LUMPUR (Jan 22): The risk of overbuilding of residential properties would become more apparent in the coming years, particularly in high-growth cities, according to JLL Appraisal &amp; Property Services Sdn Bhd (JLL Malaysia).

JLL Malaysia: Risk of overbuilding as market sentiment improves

Malaysia’s inflation is expected to reverse its current downtrend&nbsp;and gradually rise from mid-2025, driven by subsidy rationalisation, tax adjustments, and wage increases, according to economists.

Economists warn of short-lived inflation downtrend, predict gradual rebound by mid-2025

Jentayu Sustainables Bhd (KL:JSB) said the Securities Commission Malaysia (SC) has denied the building material and renewable energy (RE) group’s bid for an extension of time to complete its acquisition of three RE firms proposed in 2021.

Jentayu was informed of the regulator’s decision not to approve its application seeking an extension up to March 26, 2025, via a letter on Wednesday, according to the company’s bourse filing.

SC denies Jentayu’s extension bid to complete acquisitions of RE firms

CapitaLand Malaysia Trust (KL:CLMT) posted a 15% year-on-year increase in its fourth quarter net property income (NPI) on higher revenue contribution from the majority of CLMT’s properties, supported by stronger retail sentiment.

CapitaLand Malaysia Trust posts record net property income of RM264 mil in FY2024

TechStore Bhd, an enterprise information technology (IT) services provider set to make its debut on the ACE Market of Bursa Malaysia on Feb 18, intends to collaborate with industry players as part of its strategy to secure larger and more complex projects.

ACE Market-bound TechStore eyes larger projects, seeks industry collaborations

Saudi Arabian Prince Alwaleed Bin Talal's investment company Kingdom Holding (KHC) would be interested in investing in ByteDance's TikTok if Elon Musk or others offered to buy it, CEO Talal Ibrahim al-Maiman told Al Arabiya TV on Wednesday.

The search to find a buyer for the Chinese-owned popular short-video app continues in the US after it went dark and was revived later by an executive order signed by President Donald Trump delaying the enforcement of a ban on it by 75 days.

Saudi prince's investment firm would be keen on TikTok if Musk or others buy it, says CEO 

CapitaLand Malaysia Trust (KL:CLMT) said it will continue to seek acquisition opportunities in industrial and logistic assets across Penang, Johor and the Klang Valley this year.

“We have been actively managing our balance sheet to create room for acquisitions and if we have a choice, we would be keen to deploy some of our capital again in the industrial and logistics area,” said Tan Choon Siang, the chief executive officer of the trust's manager, CapitaLand Malaysia REIT Management Sdn Bhd.

CapitaLand Malaysia Trust continues pursuit for industrial, logistic assets

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Wednesday.

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