MOSCOW (Oct 23): US billionaire entrepreneur Elon Musk warned of the risk of the United States going bankrupt if government spending is not cut, reported Sputnik, reported by Bernama-Sputnik.

"If there is not radical reduction of government expenditures, then, just like an...

Musk warns of risks of US going bankrupt - report

The last time US government bonds sold off this much as the Federal Reserve started cutting interest rates, Alan Greenspan was orchestrating a rare soft landing.

Treasuries plunge like it’s 1995 as traders see soft landing

Bank of America Corp chief executive officer Brian Moynihan has urged Federal Reserve (Fed) policymakers to be measured in the magnitude of interest rate reductions.

Bank of America CEO urges Fed to not go too hard on rates

The Biden administration finalised rules for a 25% tax credit for semiconductor manufacturing projects, expanding eligibility for what is likely to be the largest incentive programme from the 2022 Chips and Science Act.

US extends 25% semiconductor tax credit to chip and solar wafers

Price pressures have eased substantially over the past two years, but a disconnect remains between what US inflation data show and what millions of Americans experience with their finances.

America’s most famous inflation gauge is easing — but some of the biggest expenses are left out

The small size of the federal funds market makes its key rate an imperfect metric as the Federal Reserve (Fed) gauges liquidity in the US financial system, according to JPMorgan Chase & Co.

JPMorgan sees Fed funds rate as an imperfect liquidity measure

General Motors (GM) and Ford Motor will likely have a tough time convincing investors when they report results that Detroit's pricing power for gasoline cars is still strong and losses from their electric vehicle (EV) ventures are dwindling.

GM, Ford brace for investor scrutiny over pricing power, EV losses

Four US Federal Reserve (Fed) policymakers on Monday expressed support for further interest-rate cuts, but appeared to differ on how fast or far they believe any cuts should go.

Three of them, citing the strength of the economy and an uncertain outlook, expressed a preference for going slow, using words like "modest" and "gradual" to describe their views on the right pace of rate cuts.

Four Fed policymakers favour more rate cuts, but differ on pace

The chances that Federal Reserve officials will leave interest rates unchanged in November are mounting as the US economy powers ahead, according to Torsten Slok, chief economist at Apollo Management.

Apollo’s Slok sees rising chance Fed holding rates in November

Federal Reserve Bank of Dallas president Lorie Logan said Monday she sees more rate cuts ahead for the central bank and suggested she sees no reasons why the Fed can’t also press forward with shrinking its balance sheet.

US Fed's Logan eyes more gradual rate cuts amid more balance sheet cuts 

Benchmark treasury yields may soon hit a key level on the back of rising inflation expectations and concerns over US fiscal spending, according to T Rowe Price.

“The 10-year treasury yield will test the 5% threshold in the next six months, steepening the yield curve,” according to Arif Husain, chief investment officer of fixed-income, who helps oversee about US$180 billion (RM774.43 billion) of assets at the firm.

T Rowe Price sees treasury 10-year yields hitting 5% in six months

Tide maker Procter & Gamble reported a surprise drop in quarterly sales for the second time in a row, as price-conscious consumers in its major markets, the United States and China, switched to cheaper brands.

An uncertain US economy — P&G's growth engine — has pushed customers mainly from the lower-income group to rivals who are offering discounts, and cheaper private-label brands.

P&G posts surprise sales drop on slowing demand for personal care products

A key measure of perceived riskiness in US blue-chip company bonds has fallen to its lowest levels in two decades, as investors vie for debt that can still offer relatively high yields without too much default risk.

US high-grade credit spreads fall to lowest level since 2005

New York Community Bancorp unit Flagstar Bank will lay off around 1,900 employees, the US regional lender said on Thursday, amid efforts to turn around its struggling business.

Flagstar announced around 700 job reductions and said an additional 1,200 jobs will be cut after it completes the sale of its mortgage servicing unit to non-bank mortgage platform Mr Cooper.

NYCB's Flagstar unit to cut around 1,900 jobs

Global fabless semiconductor companies and foundries rely on their production and assembly facilities in East Asia and Southeast Asia to manufacture 73% of their chips and semiconductor equipment. East Asian countries such as Japan, South Korea, China and Taiwan have developed a mature chip ecosy...

Condivergence: Chip packaging’s place in Malaysia’s semiconductor strategy

(Oct 23): Donald Trump has rejoined the Bloomberg Billionaires Index for the first time since Aug. 6 as his media startup’s stock surges alongside his odds in political betting markets.

The former president’s fortune rose to $6.5 billion Tuesday, ranking him 481st on the l...

Trump enters world’s 500 richest list for first time in 11 weeks

Investors counting on corporate results to give China’s stock rally a fresh leg up may have to look beyond the current quarter for clues, given an ailing economy and constraints on stimulus efforts.

While forward earnings per share projections for members of China’s benchmark CSI 300 Index have seen an upward revision of about 1.5% since a September trough, they remain close to a six-year low, Bloomberg-compiled data show. The gauge has pared some gains from a 35% surge since the September low as traders await further fiscal measures.

China’s historic stock jump unlikely to find support in earnings

Analysts have raised their earnings forecasts and target prices (TPs) after Gamuda Bhd (KL:GAMUDA) grew its order book to RM28.7 billion after securing a NT$32 billion (RM4.3 billion) contract for the Xizhi Donghu Mass Rapid Transit (MRT) project in Taiwan.

Analysts raise forecasts after Gamuda boosts order book to RM28.7b with Taiwan MRT job

US billionaire entrepreneur Elon Musk warned of the risk of the United States going bankrupt if government spending is not cut, reported Sputnik, reported by Bernama-Sputnik.

Musk warns of risks of US going bankrupt — report

Malaysia Airlines Bhd (MAB) has expressed its commitment to focusing on improving training and recruitment to address the increasing demand and complexity of modern aircraft.

The Ministry of Finance (MoF) said that MAB has also strengthened its competitive salary offerings to attract new workers and retain existing employees while also implementing a recruitment process directly from the market.

MAB focuses on enhancing training, hiring workers to address demand, modern aircraft

Bankrupt Tupperware Brands agreed on Tuesday to sell its business to a group of lenders for US$23.5 million (RM101.99 million) in cash and over US$63 million in debt relief, cancelling its plans for an open-market auction of its assets.

Tupperware cancels auction, agrees to lender takeover

Three companies had met all the requirements to participate in the online bidding on June 16, 2024 for a pilot project to supply renewable energy (RE) across borders to Singapore via Energy Exchange Malaysia (ENEGEM).

The Ministry of Energy Transition and Water Transformation (PETRA) said that two Singaporean companies were successful in their bid to secure 100 megawatts (MW) of green electricity, with cross-border supply agreements currently being finalised.

Three companies qualify for online bid to supply renewable energy

South Africa sees Russia as a valued ally, President Cyril Ramaphosa said at a bilateral meeting with Russia's Vladimir Putin on Tuesday, on the eve of the BRICS summit of emerging economies that will take place in the Russian city of Kazan.

South Africa sees Russia as a valued ally, Ramaphosa tells Putin

Stocks struggled in late hours after downbeat news from some key American companies, with traders also mulling prospects for a slower pace of Federal Reserve rate cuts.

A US$600 billion exchange-traded fund tracking the S&amp;P 500 (SPY) wavered after the close of regular trading.

Stocks struggle in late hours as McDonald’s slumps

Gold prices jumped to record high and the dollar was on the rise again on Wednesday, keeping the pressure on the yen and the euro, while stocks in Asia stuttered as investors were reluctant to place major bets ahead of a hotly contested US election.

Stocks stumble, dollar and gold rise as traders weigh US rates, election

In April, sovereign fund Khazanah Nasional Bhd announced RM1 billion in ‘national fund-of-funds’ initiatives at the KL20 Summit to support local venture capital funds and attract international managers. With the increased interest from both domestic and foreign investors in Malaysia’s start-up ecosystem, a crucial question arises: Are there enough investment- or IPO-ready private companies in the country?

Are Malaysian private companies investment-ready?

Chinese President Xi Jinping told Russia's Vladimir Putin that the international situation was gripped by chaos but that Beijing's strategic partnership with Moscow was a force for stability amid the most significant changes seen in a century.

Xi tells Putin the world is in chaos but friendship with Russia will endure

HSBC Holdings plc’s new chief executive officer just unveiled the biggest overhaul of the company in at least a decade, but it was missing some key details for employees and investors.

HSBC revamp by new CEO Elhedery stumps staffers, investors alike

&nbsp;Top financial regulators around the globe are voicing concern about private credit valuations, whether lenders are hiding troubled loans, and the deep entanglement between private markets and insurance money.&nbsp;

“Valuation risks are where we see a core issue,” Andrew Dean, the co-chief of the Division of Enforcement Asset Management at the US Securities and Exchange Commission, said.

Top regulators call out valuation risks in private credit

The International Monetary Fund (IMF) said the US election is creating “high uncertainty” for markets and policymakers, given the sharply divergent trade priorities of the candidates.

US election creates ‘high uncertainty’ for fragile markets, IMF says

A total of 7,400 companies have adopted the e-invoice system, with 58 million e-invoices issued as of Oct 14, according to the Ministry of Finance (MOF).

This reflects the positive reception among companies in complying with the implementation of e-invoicing, the ministry said.

7,400 companies using e-invoice system, 58 mil e-invoices issued as at Oct 14 — MOF

Japan’s 40-year government bond yield climbed to its highest level in 16 years amid growing speculation that the nation’s central bank will push ahead with interest rate increases in coming months.

Japan’s 40-year yield rises to highest since 2008 on BOJ outlook

Three companies had met all the requirements to participate in the online bidding on June 16, 2024 for a pilot project to supply renewable energy (RE) across borders to Singapore via Energy Exchange Malaysia (ENEGEM).

The Ministry of Energy Transition and Water Transformation (PETRA) said that two Singaporean companies were successful in their bid to secure 100 megawatts (MW) of green electricity, with cross-border supply agreements currently being finalised.

Tokyo Metro Co’s stock soared 36% in its trading debut on Wednesday after the initial public offering (IPO) drew strong demand from investors.

Tokyo Metro shares soar 36% on trading debut after strong IPO

Arm Holdings plc is cancelling a licence that allowed longtime partner Qualcomm Inc to use Arm intellectual property to design chips, escalating a legal dispute over vital smartphone technology.

Arm to cancel Qualcomm chip design licence in escalation of feud

The institutional reform agenda, the construction of a new nuclear reactor and the misappropriation of subsidised diesel in the country will be among the matters discussed in the Dewan Rakyat on Wednesday.

Institutional reform agenda among highlights of Parliament on Wednesday

One person died and dozens fell ill from E coli infections linked to McDonald's Quarter Pounder hamburgers in 10 states, led by Colorado, where 26 people were sickened, the US Centers for Disease Control said on Tuesday.

E coli outbreak tied to McDonald's Quarter Pounder kills one, sickens dozens in US

The chief executive officer (CEO) of GISB Holdings Sdn Bhd (GISBH) and his wife are among 22 individuals who will be charged in the Selayang Sessions Court on Wednesday.

According to Inspector-General of Police Tan Sri Razarudin Husain, all of them will be charged under Section 130V (1) of the Penal Code for being members of an organised crime group.

Top GISBH leader, wife among 22 individuals to be charged on Wednesday

Bankrupt Tupperware Brands agreed on Tuesday to sell its business to a group of lenders for US$23.5 million (RM101.99 million) in cash and over US$63 million in debt relief, cancelling its plans for an open-market auction of its assets.

The last time US government bonds sold off this much as the Federal Reserve started cutting interest rates, Alan Greenspan was orchestrating a rare soft landing.

Donald Trump touted his pledge to provide tax breaks for purchasing cars, highlighting that the benefit would only apply to vehicles made in the US as he rallied voters in a crucial swing state with just two weeks until Election Day.

Trump excludes Asian, European cars from vehicle tax-break plan

Bank of America Corp chief executive officer Brian Moynihan has urged Federal Reserve (Fed) policymakers to be measured in the magnitude of interest rate reductions.

US billionaire entrepreneur Elon Musk warned of the risk of the United States going bankrupt if government spending is not cut, reported Sputnik, reported by Bernama-Sputnik.

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