<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 15): The US International Trade Commission (USITC) has determined that there is a reasonable indication that an industry in the US is threatened by reason of imports of boltless steel shelving units prepackaged for sale from Malaysia, Taiwan, Thailand and Vietnam.</p></div>

<div class=newsTextDataWrapInner><p>Boltless steel shelving units that are prepackaged for sale are used for storage in homes, basements, garages, offices, and commercial and industrial operations.</p></div>

<div class=newsTextDataWrapInner><p>In a statement on Tuesday (May 14), the USITC said the products are allegedly sold in the US at less than fair value and are subsidised by the governments of Malaysia, Taiwan, Thailand and Vietnam.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>USITC chairman David S Johanson and commissioners Rhonda K Schmidtlein, Jason E Kearns and Amy A Karpel, voted in the affirmative.</p></div>

<div class=newsTextDataWrapInner><p>As a result of the commission’s affirmative determinations, the US Department of Commerce will continue its investigations on imports of boltless steel shelving units from Malaysia, Taiwan, Thailand and Vietnam.</p></div>


The US International Trade Commission (USITC) has determined that there is a reasonable indication that an industry in the US is threatened by reason of imports of boltless steel shelving units prepackaged for sale from Malaysia, Taiwan, Thailand and Vietnam.

US investigating sale of boltless steel shelving units from Malaysia, other countries

Wall Street's main indexes rose on Tuesday as technology and chips stocks gained, while investors braced for volatile trading over the next few sessions as voting began in a tightly contested US presidential election.

Wall Street gains on election day as technology, chip stocks rise

The economic cost of climate change will likely be much more severe than previously feared, as fresh data informs models used to predict the most probable outcomes.

Taking the latest available climate data into account, including record increases in temperatures, “the projected physical risk impact” of climate change on gross domestic product (GDP) has quadrupled by 2050 in some scenarios, the Network for Greening the Financial System (NGFS) said in a report on Tuesday.

Global GDP seen taking much bigger climate hit than first feared

The US trade deficit surged to nearly a 2-1/2-year high in September as businesses boosted imports to meet robust domestic demand and in anticipation of higher tariffs on goods.

Imports boost US trade deficit to nearly 2-1/2-year high in September

The UK’s fiscal watchdog accused Treasury civil servants of breaking the law by withholding information before the March budget, raising the stakes in a blame game over who was responsible for hiding a multi-billion pound shortfall.

UK budget watchdog says Treasury officials may have broken law

Global investors were on edge as Americans headed to the polls on Tuesday, drawing to a close a dramatic US election cycle that has moved bonds, stocks and other assets in recent months and could further sway markets as results become clearer.

Anxious global investors brace for long-awaited US election results 

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

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Super Micro Computer Inc started the year as a hot artificial intelligence (AI) trade. But just eight months after shares hit a record high, investors are asking whether the server maker will be delisted by Nasdaq Inc and booted from the S&P 500.

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Burger King parent Restaurant Brands and KFC owner Yum Brands missed market estimates for quarterly results on Tuesday, hit by choppy demand in the United States and abroad from budget-stretched customers.

Burger King, KFC owners miss results estimates as fast-food spending wanes

Electrical engineering services provider HE Group Bhd (KL:HEGROUP), which was listed on the ACE Market in January, said its major shareholders plan to dispose of 4.54% of their shares to comply with a Bumiputera equity condition set by the authorities.

HE Group's major shareholders to sell 4.54% stake to Bumiputera investors

Investigators searched the offices of US streaming giant Netflix in France and the Netherlands as part of a preliminary investigation into tax fraud laundering, a French judicial source said on Tuesday.

Tax fraud investigators search Netflix offices in Paris and Amsterdam — Reuters

<p>The High Court here has ordered an automotive trader of parts and lubricants to pay RM516,777 to Perodua Otomobil Kedua Sdn Bhd and Perodua Sales Sdn Bhd for selling counterfeit Perodua lubricants bearing Perodua trademarks.</p>


Automotive trader ordered to pay RM516k to Perodua for selling counterfeit lubricants

<p>Shares of Petronas Chemicals Group Bhd (KL:PCHEM) fell to their lowest in four and a half years after dropping 44 sen or 8.04% to close at RM5.03 on Tuesday, a level last seen in April 2020, as expectations mount that the group would be posting weaker results.</p>


PetChem shares dive to lowest in over four years as expectations for weaker earnings mount

<p>Super Micro Computer Inc started the year as a hot artificial intelligence (AI) trade. But just eight months after shares hit a record high, investors are asking whether the server maker will be delisted by Nasdaq Inc and booted from the S&amp;P 500.</p>


<p>Malaysia's rubber glove export is expected to climb 16% to a new record of RM13.7 billion in 2024, following the historic high of RM11.8 billion achieved in 2023, said Deputy Plantation and Commodities Minister Datuk Chan Foong Hin.</p>


Malaysia's rubber glove exports to hit new record high this year, says Plantation Ministry

<p>IOI Corp Bhd (KL:IOICORP) said on Tuesday it has allocated part of its aged plantation landbank in Johor to build a solar power plant, in a move to venture into the renewable energy sector.</p>


IOI Corp allocates land in Johor for solar power plant

<p>When <em>Reuters </em>reported in April that Tesla had scrapped plans for a long-promised, next-generation US$25,000 (RM108,937) electric vehicle, the automaker’s stock plunged. Chief executive Elon Musk rushed to respond on X, his social-media network.</p>


Musk now says it's 'pointless' to build a US$25,000 Tesla for human drivers

<p>KUALA LUMPUR (Nov 5): IOI Corp Bhd (KL:IOICORP) estimates that the revision of the new minimum wage to RM1,700 from RM1,500, together with the introduction of mandatory foreign worker contribution to the Employees Provident Fund (EPF) that was announced recently under Budget 2025, will impact less than 1.5% of the group’s annual net profit.</p>


IOI Corp sees less than 1.5% impact on profit from mandatory foreign worker contribution to EPF, new minimum wage

<p>The federal government will incorporate policies for the adoption of nuclear energy in the nation's energy mix under the upcoming 13th Malaysia Plan, set to be implemented from 2026 to 2030, as part of its goal to achieve net zero carbon emissions by 2050.</p>


Government to include nuclear energy policies in 13th Malaysia Plan — Rafizi

<p>ON Tuesday, Nov 5, Americans will go to the polls to elect their 47th president. Incumbent Joe Biden’s four-year term of office ends at noon on Jan 20 next year, when a new president will be sworn in. Since mid-July when Biden, 82, announced that he would not seek re-election, the race has litera...

Who will win the US election and should you care?

<p>Police in Bangladesh have asked the Malaysian government to arrest and extradite two businessmen as part of a probe of alleged money laundering, extortion and trafficking of migrant workers.</p>


Bangladesh seeks arrest of Bestinet founder, associate in worker trafficking probe

<p>KUALA LUMPUR (Nov 5): Shares of Dayang Enterprise Holdings Bhd (KL:DAYANG) rose on Tuesday after bagging a contract, and analysts say the win reinforced their view that the oil-and-gas services firm would be in line for more jobs.</p>


Dayang Enterprise’s shares rally on contract win, analysts upbeat on more jobs ahead

<p>KUALA TERENGGANU (Nov 5): A mosque chairman in a Terengganu district has been remanded for six days in connection with an investigation into allegations of submitting a fraudulent list of ineligible zakat recipients in&nbsp;April.</p>


Terengganu mosque chairman remanded in zakat fraud investigation — MACC

<p>Proton Holdings Bhd said it achieved a 13.6% rise in sales in October, reaching 12,799 units (including exports) against the backdrop of total industry volume (TIV) exceeding 70,000 units for a fifth time this year.</p>


Proton sales climb 13.6% in October, TIV exceeds 70,000 units again

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


<p>Electrical engineering services provider HE Group Bhd (KL:HEGROUP), which was listed on the ACE Market in January, said its major shareholders plan to dispose of 4.54% of their shares to comply with a Bumiputera equity condition set by the authorities.</p>


<p>Fraser &amp; Neave Holdings Bhd's (KL:F&amp;N) net profit for the fourth quarter ended Sept 30, 2024 (4QFY2024) dropped 38.21% year-on-year to RM84.99 million from RM137.56 million, impacted by higher tax expenses and increased withholding taxes on dividends repatriated from its Thailand operations.</p>


F&N profit falls 38% on higher taxes from Thai ops, pays 33 sen dividend

<p>The founding couple of an online fashion business on Tuesday provided their statements to the Malaysian Anti-Corruption Commission (MACC).</p>


FashionValet founders quizzed over RM43.9m investment loss

<p>The&nbsp;ringgit’s value is still strong amid recent market developments and adjustments, with&nbsp;the local note rising by 5.03% against the US dollar as at Monday, Nov&nbsp;4.</p>


Ringgit still strong, up 5.03% against US dollar as at Nov 4, says Amir Hamzah

<p>KUALA LUMPUR (Nov 5): The donation drive to honour Attorney General (AG) Tan Sri Ahmad Terrirudin Mohd Salleh who is retiring on Nov 11, has been stopped.</p>


AG Ahmad Terrirudin wants donation drive for his retirement gift to stop

<p>elow is a summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.</p>
