US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told Reuters on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.

US growth may get revised up, inflation will ebb

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to still tight labour market conditions.

US weekly jobless claims unexpectedly fall

US economic growth slowed more than expected in the first quarter, but an acceleration in inflation suggested that the Federal Reserve would not cut interest rates before September.

US economic growth slows more than expected in first quarter

Lockheed Martin Corp and RTX Corp, fresh off a surge of orders in response to Russian aggression against Ukraine and the war in Gaza, stand to profit from US$95 billion of mostly new weapons funding as the increasingly drawn out conflicts renew demand for pricey equipment.

On Wednesday, President Joe Biden signed a hard-fought bill into law that provides billions of dollars of new US aid to Ukraine for its war with Russia, including US$61 billion for Ukraine and US$26 billion for Israel.

Ukraine, Israel bill to bolster Lockheed, RTX profits

Recovering risk appetite and tightening spreads in the commercial real estate market mean active managers have to work a little harder, according to DoubleLine Capital LP.

Fears of ravaged commercial real estate market have eased, DoubleLine says

Visa Inc recently reported impressive fiscal second quarter 2024 results, with net revenue increasing by 10% and payments volume growing by 8%.

Visa's strong earnings may be a troubling sign for US economy — report

US mortgage rates increased to the highest level in five months, pushing down home-purchase applications for the fifth time in the last six weeks.

US 30-year mortgage rises to five-month high of 7.24%

Sales of new US single-family homes rebounded in March from February's downwardly revised level, drawing support from a persistent shortage of previously owned houses on the market, but momentum could be curbed by a resurgence in mortgage rates.

US new home sales rebound to six-month high; rising mortgage rates a concern

A made-in-China electric vehicle (EV) will hit US dealers this summer offering power and efficiency similar to the Tesla Model Y, the world's best-selling EV, but for about US$8,000 (RM38,228) less.

How Volvo landed a cheap Chinese EV on US shores in a trade war

Fisker may have to file for bankruptcy protection within 30 days if it does not get adequate relief from its creditors and enough liquidity to meet its current debt obligations, it disclosed in a regulatory filing on Tuesday.

Fisker may seek bankruptcy protection in 30 days if unable to meet debt obligations

The US Federal Trade Commission (FTC) voted Tuesday to adopt a near-total ban on non-compete provisions that prohibit workers from switching jobs within an industry, a rule the Chamber of Commerce vowed to immediately challenge in court.

FTC issues worker non-compete ban as chamber lawsuit looms

US defence contractor L3Harris Technologies Inc will cut 5% of its workforce this year as part of a cost saving measure, CEO Chris Kubasik said in an email to employees seen by Reuters on Tuesday.

US defence contractor L3Harris to cut 5% of workforce to save costs, email shows

(April 24): JPMorgan Chase CEO Jamie Dimon said the U.S. economy was booming and consumer spending continued to be resilient.

The U.S. economic boom is "unbelievable," Dimon told the Economic Club of New York on Tuesday. "Even if we go into recession, the consumer's still in good shape,...

JPMorgan CEO Dimon says US economy is booming

Walmart’s majority-owned fintech startup One has started offering buy now, pay later (BNPL) loans for big-ticket items like electronics and power tools at some of the retailer's US stores, a source said on Tuesday.

Walmart-backed fintech One launches 'buy now, pay later' services, source says

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

SC adds four entities to Investor Alert List, two being potential clones

Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.

Mercury Securities values ACE Market-bound Sin-Kung Logistics at 14 sen

HLIB is positive on how AME REIT ended the year.

MORNING CALL: 26/4/24

(April 26): China is preparing a United Nations General Assembly resolution that it says is intended to help close gaps between rich and developing countries in the advance of artificial intelligence, an initiative that follows an extensive and ambitious campaign by the US, its biggest AI competi...

China prepares UN resolution to tap AI for good

RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.

VS Industry poised to continue bullish trajectory, says RHB Retail Research 

RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.

YTL Corp eyeing to extend upside movement, says RHB Retail Research 

LONDON (April 26): One fixture lurking like a troll in Arsenal's Premier League title run-in has probably consumed the thoughts of the club's fans more than any other -- Sunday's short trip to arch-rivals Tottenham Hotspur.

Like all big city derbies, pride and bragging rights are always...

Arsenal face derby test with title up for grabs

(April 26): Foreign states are using UK universities to “steal advantage” by covertly acquiring British intellectual property, the government warned, saying it would explore proposals to protect cutting-edge research and technology.

After an internal review found other countries are tar...

UK warns universities about research threat from foreign states

(April 26): The Tesla Inc. shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.

Tesla inves...

Tesla fires back at investor who doesn’t want pay fight in Texas

(April 26): Former President Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter....

Trump advisers discuss penalties for nations that move away from the dollar

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

AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

The Malaysian Anti-Corruption Commission (MACC) has served a senior police officer arrested on suspicion of protecting an illegal syndicate in the country's capital a notice to declare his assets before April 28.

Senior police officer arrested for alleged corruption given until April 28 to declare assets to MACC

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EVENING 5: Five things you need to know today

TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.

TAS Offshore’s 3Q net profit up nine-fold, shares surge to eight-year high

Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected US economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.

Wall Street stocks fall as weak GDP growth spreads rate-cut gloom

Harvey Weinstein's 2020 conviction for sexual assault and rape was overturned by New York's highest court, reopening the landmark case that fuelled the #MeToo movement and highlighting the challenges of holding powerful men accountable.

Harvey Weinstein's rape conviction overturned by top New York court

US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told Reuters on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.

Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.

PN names Hulu Selangor Bersatu acting division head as candidate for KKB by-election

EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.

EUPE Corp net profit surges 28.9% in 4Q, driven by strong property sales

As part of its continuing quest to add long-haul destinations to its routes over the long term, AirAsia X is exploring possible destinations in Eastern European countries such as Poland and Hungary, and the airline is not ruling out revisiting London and exercising its landing rights to Orlando in the United States.

AirAsia X mulls flying to Poland, Hungary, London and Orlando

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives hit a two-month low on Thursday, due to weaker soybean oil futures on the Chicago Board of Trade (CBOT), said a dealer.

Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said the market sentiment was also weighed down by the Dalian Commodity Exchange’s refined, bleached, and deodorised palm olein during Asian trading hours.

CPO futures hit two-month low at the close, in line with weaker rival oils

Infoline Tec Group Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

Infoline Tec seeks transfer from ACE Market to Main Market

Al-’Aqar Healthcare Real Estate Investment Trust (Al-’Aqar REIT) is actively targeting to acquire yield-accretive properties from KPJ Healthcare Bhd as part of its asset expansion plan.

The proposed exercise will be funded through a combination of unit issuance and cash via bank borrowings, it said in a filing with Bursa Malaysia on Thursday.

Al-`Aqar Healthcare REIT aims to acquire yield-accretive properties from KPJ Healthcare

Heineken Malaysia Bhd announced on Thursday that it has nominated Martijn Rene van Keulen as its new managing director (MD).

Heineken nominates Martijn Rene van Keulen as new MD to succeed Roland Bala

Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.

(April 26): The Tesla Inc. shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.

Tesla inves...

RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.

Malaysia nevers forget the sacrifices Australian and New Zealand heroes made during the World War II particularly in Sandakan and the lessons of history will be carried forward to the new generation.

Malaysia never forgets sacrifices of Australian, New Zealand war heroes in Sandakan

RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.

(April 26): Former President Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter....

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