<div class=newsTextDataWrapInner><p>(Nov 4): KPMG will lay off&nbsp;4%, or about 330 people, of its audit workforce in the US, a source familiar with the matter said on Monday.</p></div>

<div class=newsTextDataWrapInner><p>Besides KPMG, Ernst &amp; Young, Deloitte, PricewaterhouseCoopers make up the Big Four of accounting firms.</p></div>

<div class=newsTextDataWrapInner><p>"The actions reflect our ongoing focus to align the size, shape and skills of our workforce to the market, while addressing continued low levels of attrition," a KPMG spokesperson said in a statement via email.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>KPMG has a presence in "more than 143 countries and territories with over 273,000 partners and employees".</p></div>

<div class=newsTextDataWrapInner><p>The accounting firm had planned to&nbsp;cut about 100 jobs&nbsp;in its deal advisory business in the UK, a source told <em>Reuters</em> in October 2023.</p></div>

<div class=newsTextDataWrapInner><p>In June last year, KPMG also announced layoffs&nbsp;affecting 5% of its US&nbsp;employees&nbsp;after feeling the pinch of "economic headwinds, coupled with historically low attrition", a spokesperson for the accounting firm had said.</p></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Siow Chen Ming</em></p></div>


KPMG will lay off 4%, or about 330 people, of its audit workforce in the US, a source familiar with the matter said on Monday.

Besides KPMG, Ernst & Young, Deloitte, PricewaterhouseCoopers make up the Big Four of accounting firms.

KPMG to lay off 4% of US audit workforce, source says

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.

Super Micro faces delisting, S&P 500 removal amid auditor woes

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

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

FashionValet founders quizzed over RM43.9m investment loss

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.

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

EVENING 5: Maybank IB tells clients to go defensive

The increased RM25 million allocation in the 2025 Budget for rare disease treatment costs is expected to improve haemophilia care, said Bentong Member of Parliament (MP) Young Syefura Othman.

Increased allocation for rare diseases expected to assist haemophilia treatment, says Bentong MP

Construction player Gagasan Nadi Cergas Bhd (KL:NADIBHD) is buying two companies for RM185 million, cash, to gain control of Konsortium PAE Sepakat Sdn Bhd (KPSSB), which owns a facility management concession for student hostel facilities in seven polytechnic campuses.

Gagasan Nadi Cergas buys student hostel management concession for RM185m

The US stock market is unlikely to head into a bear market in the next 12 months, with a resilient economy continuing to support equities, according to Goldman Sachs Group Inc strategists.

Goldman strategists see little chance of post-poll bear market

<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>KUALA LUMPUR (Nov 5): The Road Transport Department (RTD) and the Transport Ministry have been issued a letter of demand (LOD) over alleged copyright infringement in relation to the special “MADANI” vehicle number plates.</p>


Special ‘MADANI’ vehicle number plates: RTD, Transport Ministry hit with letter of demand for ‘copyright infringement’

<p>KUALA LUMPUR (Nov 5): Palm oil prices will strengthen in 2025, as tight supply of edible oil boosts earnings of Malaysian planters, AmInvestment Bank said in recommending that investors add exposure to the sector.</p>


Palm oil prices set to rally in 2025, with AmInvestment now overweight on plantation

<p>Maybank Investment Bank has warned Asean investors of potential economic turbulence and a surge in trade tensions, amid anticipation of more import tariff hikes&nbsp;if Donald Trump wins a second term as the US president.</p>


Maybank IB tells clients to go defensive, warns of potential economic risks brought by new US president

<p>THE Genting group seems to have been dealt several bad hands in North America this year.</p>

<p>About three weeks ago, Genting Malaysia Bhd’s (GenM) (KL:GENM) indirect wholly-owned subsidiary Genting Americas Inc, which operates the Resorts World Bimini (RW Bimini) in the Bahamas, was named by...

Cost of seeking growth abroad for Genting Malaysia

<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>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>KUALA LUMPUR (Nov 5): Malaysia aims to attract both affluent locals and foreigners having assets under management (AUM) between RM500 million and RM1.2 billion to establish their family offices in the country over the next five years.</p>


Amir Hamzah: Malaysia to attract family offices with assets of RM500m to RM1.2b

<p>Logistics service firm Xin Hwa Holdings Bhd (KL:XINHWA) said on Tuesday its cargo transport unit’s licence to transport goods has been suspended by authorities, which it expects to adversely impact its operations.</p>


Xin Hwa warns of adverse impact as cargo transport unit’s licence suspended by authorities

<p>The top 15% (T15) income group to be excluded from the proposed targeted RON95 petrol subsidy will not be solely defined by the Household Income Survey, said Finance Minister II Datuk Seri Amir Hamzah Azizan.</p>


Household income not sole measure for defining T15, says Amir Hamzah of targeted RON95 subsidy

<p>The liquidator of Semantan Estate (1952) Sdn Bhd, the firm embroiled in the ‘Duta Enclave’ dispute, is appealing against the High Court’s decision on Sept 12&nbsp;to allow a stay to the Federal Territory Land Registrar of having to register the transfer of ownership from the Malaysian government to the company within three months of its Aug 7 decision.</p>


Semantan Estate liquidator also appealing stay granted to FT Land Registrar

<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>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>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>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>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>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>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>Construction firm Aneka Jaringan Holdings Bhd (KL:ANEKA) has secured a RM39 million contract to undertake earthwork, piling, pile caps and contiguous bored piling works in Jalan Pantai Sentral, Kuala Lumpur.</p>


Aneka Jaringan secures RM39 mil construction contract in Kuala Lumpur

<p>Apple Inc&nbsp;has proposed investing almost US$10 million (RM43.68 million) to make additional goods in Indonesia, according to people familiar with the matter, as it seeks to have the country’s ban on sales of its latest iPhone removed.</p>
