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Czech voters expected to hand power to billionaire businessman Babis

PRAGUE (Reuters) - Czechs voted on Saturday in the final day of a parliamentary election likely to bring a billionaire businessman to power on promises to cut taxes, weed out political corruption and stand firm against immigration.

GE vows US$20 bln asset sales, sweeping change as profit falls

NEW YORK: General Electric Co's new chief executive vowed on Friday to shed more than $20 billion worth of assets and hold executives accountable for failing to deliver profits after what he called "horrible" results in the third quarter.

General Electric Co's new chief executive John Flannery

Lifestyle inflation could be the reason you’re struggling

WHAT is lifestyle inflation? Quite simply it’s when you increase your spending when your income level goes up, for instance, each time you get a salary increment. It’s a simple idea that when you make more, you spend more.

Stock market's future in Trump's hands as Federal Reserve chair pick looms

NEW YORK: Investors awaiting the nomination of the next Federal Reserve chair are hoping whoever is nominated pursues the same monetary policy that has supported rising stock prices for the past nine years

U.S. President Donald Trump has selected a pool of five candidates from which to choose the next Fed chair: current Fed Chair Janet Yellen(filepic); Trump's chief economic adviser, Gary Cohn; former Fed Governor Kevin Warsh; current Fed Governor Jerome Powell, and Stanford University economist John Taylor.."Yellen... would be the most obviously market-friendly situation," said Michael Purves, chief global strategist at Weeden & Co. "The markets understand how she works and there's less guesswork."

GE vows US$20bil asset sales, 'sweeping change' as profit falls

NEW YORK: General Electric Co's new chief executive vowed on Friday to shed more than $20 billion worth of assets and hold executives accountable for failing to deliver profits after what he called "horrible" results in the third quarter.

GE badly missed Wall Street expectations and slashed its full-year forecast, sending shares down as much as 6 percent early in the day. But the stock rebounded and closed up 1 percent at $23.83 after CEO John Flannery(filepic) said he will focus the company on delivering profit and cash to shareholders.

Wall Street hits record highs; tax plan hopes fuel optimism

NEW YORK: U.S. stocks hit record closing highs on Friday and the S&P 500 posted a sixth week of gains after the U.S. Senate passed a budget resolution, lifting hopes that President Donald Trump's tax-cut plan may move forward

The Dow Jones Industrial Average rose 165.59 points, or 0.71 percent, to end at 23,328.63, the S&P 500 gained 13.11 points, or 0.51 percent, to 2,575.21 and the Nasdaq Composite added 23.99 points, or 0.36 percent, to 6,629.05.  All three indexes posted all-time closing highs, extending their recent run of records, and the Dow, which broke above 23,000 this week, rose 2 percent for the week.

UMB going big in cash crop venture

Stevia, coconut, coffee and cocoa planting in Indonesia may become major contributor to profit

An aerial view of United Malacca plantations in Indonesia.

GST is not the issue

THE Goods and Services Tax (GST) has been implemented for more than two years now.

Strong vehicle sales seen in fourth quarter

WHILE vehicle sales took a nosedive last month, weighed down by fewer working days and lower loan approval rates, things are however looking up for the automotive sector in the current and final quarter of 2017.

Comintel to give special cash dividend after sale of subsidiary

KUALA LUMPUR: Comintel Corp Bhd will reward shareholders with a special cash dividend after its proposed disposal of wholly-owned subsidiary BCM Electronics Corp Sdn Bhd for a cash consideration of RM123.8mil, subject to the settlement of related party advances, Comintel said in a Bursa announcement.

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