<div class=newsTextDataWrapInner><p>(Nov 3): Fiserv has cut its employee and contractor base by 3,000 since June, including a reduction of senior management by more than 10%, CEO Takis Georgakopoulo said on an earnings call on Tuesday.</p></div>

<div class=newsTextDataWrapInner><p>Shares of the company rose about 9.5% in pre-market trading.</p></div>

<div class=newsTextDataWrapInner><p>"We are pursuing a number of initiatives to simplify the organization and operate more efficiently, including Project Elevate," Fiserv said in a statement.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The company had more than 38,000 employees worldwide as of Dec 31, 2025.</p></div>

<div class=newsTextDataWrapInner><p>The payments firm also raised its Project Elevate savings target to US$1 billion (RM4.1 billion) from US$500 million, after Jana urged it to target US$1.25 billion in savings</p></div>

<div class=newsTextDataWrapInner><p>Georgakopoulos also said Fiserv plans to exit more than a dozen smaller, non-core products that lack attractive performance, growth or margin characteristics.</p></div>

<div class=newsTextDataWrapInner><p><i>Uploaded by Magessan Varatharaja</i></p></div>


Fiserv has cut its employee and contractor base by 3,000 since June, including a reduction of senior management by more than 10%, CEO Takis Georgakopoulo said on an earnings call on Tuesday.

Fiserv cuts 3,000 employees and contractor jobs under new CEO

The S&P 500 and the Nasdaq rose on Tuesday on a further drop in crude oil prices ahead of US midterm election results, while Apple joined the list of Big Tech companies whose earnings failed to impress investors.

S&P 500, Nasdaq edge higher ahead of midterm results; Apple falls

US job openings increased sharply in September while layoffs fell, supporting economists' views that the labour market remained on firmer footing despite tepid employment gains during that month.

US job openings increase sharply in September

Ferrari on Tuesday raised forecasts for this year's results after beating consensus on core profit and revenue in the third quarter, sending shares in the Italian luxury sports car maker up as much as 4.7%.

Ferrari lifts forecasts after outperformance, Luce EV demand strong

President Donald Trump on Tuesday said he made a deal with Israeli Prime Minister Benjamin Netanyahu that Washington would stop US$4 billion (RM16.3 billion) in funding to Israel after the end of this year.

Trump says US will stop US$4b in funding to Israel at end of 2026

Gold prices ticked up on Tuesday as a decline in oil prices slightly eased inflation concerns, while investors awaited the outcome of US midterm elections for fiscal policy clues.

Gold edges higher on softer oil prices; US midterms in focus

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

IOI Properties, IOIPG REIT, Tenaga Nasional, GDB, TWL, HB Global, Malakoff, Orkim, Pertama Digital, MMCS, Asdion, Pekat, Theta Edge, ES Sunlogy

Honda Motor Co Ltd’s European chief said the Japanese carmaker may rebuild a manufacturing presence in the region, depending on the final outcome of new rules in the European Union that will favour locally made cars.

Honda weighs restarting EU car output as new rules take shape

Americans voted on Tuesday in pivotal midterm elections with Democrats hoping to seize control of Congress and impose the first significant checks on Donald Trump's chaotic second term in the White House.

Americans vote in midterms set to upend Trump presidency

Deputy Commissioner General of Prisons (Community) Hafidz Othman has been appointed the new cmmissioner general of prisons, effective Nov 5, the Prisons Department said.

Hafidz Othman appointed new commissioner general of prisons

<div class="content-side-bar-box">
<p><span style="color:#c0392b;"><strong>Summary</strong></span></p>

<p>•&nbsp;&nbsp; &nbsp;654 buyers of 8 Conlay units face a vote within days on a RM700 million rehabilitation that would restart construction, wipe out LAD and end the Kempinski brand</p>

<p...

Light at the end of the tunnel for KL’s 8 Conlay?

<p>PUTRAJAYA (Nov 3): A three-member Court of Appeal bench on Tuesday allowed lawyer Mahajoth Singh’s appeal to have the merits of his judicial review challenge against the Malaysian Anti-Corruption Commission (MACC) heard.</p>


Albert Tei’s lawyer wins appeal to have MACC challenge heard

<p>Malaysia’s Transport Minister Anthony Loke maintained his decision to step down once home confinement for former prime minister Datuk Seri Najib Razak begins, <i>Nikkei Asia</i> reported on Tuesday.</p>


DAP’s Loke still plans to quit Cabinet, says projects safe — report

<p>PUTRAJAYA (Nov 3): A three-member Court of Appeal bench has deferred the hearing of the final appeal by a former magistrate who was convicted of six counts of graft and sentenced to 12 years’ jail and fined a total of RM1.05 million.</p>


Court of Appeal defers former magistrate’s final graft appeal over lawyer’s lack of preparation

<p>The Inland Revenue Board (IRB) has audited and investigated a total of 408,726 cases throughout this year, resulting in additional tax assessments amounting to about RM7.7 billion.</p>


IRB: RM7.7 bil in additional assessments discovered after auditing 408,726 cases

<p>Monies totalling RM14 billion in Malaysia are unclaimed as of September this year, as most of the beneficiaries are unaware what is owed to them or delay making claims.</p>


About RM14b unclaimed as owners unaware or delay making claims  

<p>Former prime minister Tan Sri Muhyiddin Yassin will submit a representation to drop the charge of uttering seditious words during the Nenggiri State Legislative Assembly by-election campaign in 2024, after the Pahang Ruler granted him an audience last week.</p>


Muhyiddin to seek withdrawal of sedition charge in 'positive development' with Pahang Palace

<p>The High Court has struck out the late Tun Daim Zainuddin's family&nbsp;suit challenging the police investigations against them for allegedly committing activities detrimental to parliamentary democracy.</p>


Court strikes out late Daim’s family legal bid against PM, IGP over allegations to topple govt

<p>IOI Properties Group Bhd (KL:IOIPG) is looking to launch a private real estate fund for its Singapore assets in the next few months.</p>


IOI Properties to launch Singapore private fund in next few months, secondary listing in early 2027

<div class="content-side-bar-box">
<p><span style="color:#c0392b;"><strong>Summary</strong></span></p>

<p>•&nbsp;&nbsp; &nbsp;Eng Lian group has proposed to take Toyo Ventures private via selective capital reduction (SCR) and repayment scheme at 28 sen per share</p>

<p>•&nbsp;&nbsp; &nbsp;Toy...

Eng Lian’s costly energy bet on Toyo Ventures ends in 28 sen buyout

<p>Tenaga Nasional Bhd (KL:TENAGA) has teamed up with IOI Corporation Bhd (KL:IOICORP) and a consortium of 12 small and medium enterprises (SMEs) to develop a 500MW solar power project in Bahau, Negeri Sembilan.</p>


Tenaga, IOI Corp, SME consortium to develop 500MW solar project in Negeri Sembilan

<h3><span style="color:#d35400;">Malaysian REITs</span></h3>

<p><span style="color:#27ae60;"><strong>OVERWEIGHT</strong></span></p>

<p><strong>RHB INVESTMENT BANK (OCT 20):</strong> We continue to like the M-REITs sector for its defensive qualities, with underlying fundamentals still healthy d...

Brokers Digest: Local Equities - Malaysian REITs, CIMB Group Holdings Bhd, Gamuda Bhd, Mr DIY Group (M) Bhd

<p>Malaysian energy stocks hit a two-week low on Tuesday as oil prices slumped amid news reports of a potential US-Iran peace deal.</p>


Malaysian energy stocks hit two-week low as oil prices slump

<p>KUALA LUMPUR (Nov 3): GDB Holdings Bhd (KL:GDB) on Tuesday said it has secured a construction contract worth RM877 million to demolish an existing factory and build a two-block, five-storey logistics hub in Seksyen 15, Shah Alam.</p>


GDB bags RM877m construction job to build logistics hub in Shah Alam

<p>Prime Minister Datuk Seri Anwar Ibrahim said on Tuesday that investigations into two failed gas pipeline projects involving a participation loan from the Export-Import Bank of China (China Exim Bank) remain&nbsp;open despite difficulties obtaining information involving both countries.&nbsp;</p>


Probes into two failed gas pipeline projects remain open despite difficulties obtaining information — PM

<h2>Notable filings</h2>

<p>Between Oct 12 and 16, notable changes in shareholding among companies traded on Bursa Malaysia included those at plantation counter <strong>United Malacca Bhd</strong> (KL:UMCCA).</p>

<p>The Tee family vehicle, Prosper Trading Sdn Bhd, acquired 28.19 million United...

Insider Moves: United Malacca Bhd, Turiya Bhd, Foodie Media Bhd, AMMB Holdings Bhd, Malakoff Corp Bhd 

<p>The High Court on Tuesday ordered the federal government to file its reply to the latest suit filed by Semantan Estate (1952) Sdn Bhd last month where it sought to compel the government to sell the Duta enclave land and hand over its proceeds.</p>


Govt asked to reply to Semantan Estate’s suit wanting sale of land by Jan 4

<p>US chipmaking giant Nvidia is ordering its data centre partners to scale back work with Chinese customers, the<em> Financial Times</em>&nbsp;(<em>FT</em>) reported on Tuesday.</p>


Nvidia ordering data centre clients to reduce China exposure — FT

<p>KUALA LUMPUR (Nov 3):&nbsp;A total of 12 cloud seeding operations were carried out in several parts of Peninsular Malaysia and Sarawak between Aug 30 and Oct 23 to mitigate the impact of transboundary haze on the country's air quality.</p>


Twelve cloud seeding operations conducted during transboundary haze episode

<p>KUALA LUMPUR (Nov 3): Malaysia has decided not to extradite independent preacher Dr Zakir Naik to India and has made no commitment to do so, the Dewan Rakyat was told on Tuesday.</p>
