World stocks were on track for their longest losing streak in two years on Thursday as the sight of oil prices heading for US$100 a barrel compounded concerns about persistently high global interest rates.

Bond markets brace as oil climbs toward US$100 a barrel

ChatGPT maker OpenAI is in advanced talks with former Apple designer Jony Ive and SoftBank's Masayoshi Son to build the "iPhone of artificial intelligence", fuelled by more than US$1 billion (RM4.7 billion) in funding from the Japanese conglomerate, the Financial Times reported on Thursday.

OpenAI, Jony Ive in talks to raise US$1b from SoftBank for AI device venture — FT

HSBC is set to acquire Citigroup's China consumer wealth management business, which manages more than US$3 billion (RM14.1 billion) in assets, two sources with knowledge of the matter said, in a major boost to the London-based bank's business in that country.

HSBC to acquire Citigroup China consumer wealth business — sources

Malaysia's palm oil production is likely to rise next year as more plentiful labour and the maturation of plantations for harvesting offset the impact of the El Nino weather pattern, the Malaysian Palm Oil Board (MPOB) said on Thursday.

Malaysia's 2024 palm oil output to rise despite El Nino — MPOB

Trading in shares of China Evergrande Group was suspended on Thursday after a report that its chairman had been placed under police watch, as concerns mounted about the cash-strapped developer's future amid growing liquidation risk.

Evergrande shares halted as concerns mount about developer's prospect

(Sep 28): Amid signs the bond market has bought into the Federal Reserve keeping interest rates higher for longer, a cohort of investors is placing bets on the economy hitting a wall — and a sharp policy reversal in short order.

Treasury yields have settled into tight ranges this month ...

Fed’s higher-for-longer mantra has doubters in bond market

Solidaridad Asia has called on the European Union (EU) to take a comprehensive approach in implementing the EU Deforestation Regulation (EUDR) that will primarily benefit smallholders.

EU urged to implement inclusive deforestation regulations to support smallholders 

Southeast Asian central banks are using tools other than rate hikes to defend their currencies against the surging dollar as bets on higher-for-longer Federal Reserve rates take hold.

Dollar surge is bringing ‘pseudo tightening’ to Southeast Asia 

A looming government shutdown would reduce US Securities and Exchange Commission (SEC) staffing to "skeletal" levels, stopping it from approving companies' Wall Street debuts and hindering its ability to respond to any market turmoil, its chair told lawmakers on Wednesday.

As shutdown looms, companies should go public 'before Friday' — US SEC chief 

The US economy is facing headwinds from a possible government shutdown, student debt payments restarting, higher interest rates and an autoworkers' strike, White House economic adviser Jared Bernstein said on Wednesday.

US economy facing headwinds from possible government shutdown — White House 

The S&P 500 eked out a fractional gain on Wednesday after a see-saw session, as investors weighed whether to start bargain hunting following a sell-off fueled by elevated Treasury yields and uncertainty about the path ahead for interest rates.

S&P 500 ekes out slim gain as investors weigh elevated yields

Here is a brief recap of some corporate announcements that made news on Wednesday: Glomac Bhd, Sapura Energy, Capital A, Sunway, Pensonic, Jiankun International Bhd, Gamuda Bhd, Kim Loong Resources Bhd, Hiap Teck Ventures Bhd, Censof Holdings Bhd and Ekovest Bhd.

Glomac, Sapura Energy, Capital A, Sunway, Pensonic, Jiankun International, Gamuda, Kim Loong Resources, Hiap Teck Ventures, Censof, Ekovest 

EVENING 5: Five things you need to know today

Targeted fuel subsidies could hit the middle-income group (M40s) the hardest, as the top 20% income earners (T20) will be better able to absorb the higher fuel costs while the bottom 40% households (B40) will be eligible for handouts to buffer the resulting higher inflation, said an analyst and economist.

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