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Technology

China tightens investment rules after blocking Meta-Manus deal

BEIJING: China is issuing sweeping new rules tightening control of overseas deals that involve Chinese investors, technology, data and national security, a month after Beijing ordered Meta to unwind its acquisition of artificial inteligence (AI) startup Manus.

Business

Gen-Z gamer builds China’s latest AI unicorn

SHANGHAI: Vast, a 3D-modelling startup founded by a 29-year-old gamer, has raised nearly US$200mil to become the latest Chinese artificial intelligence (AI) outfit to achieve a valuation of US$1bil.

Business

AI savings misses should make executives uncomfortable

NEW YORK: Cost savings from automation are broadly falling short of projections, according to a new Bain & Co global survey of large companies.

Business

Bond trader wagers on Fed hike poised for gut-check from jobs data

NEW YORK: Bond traders are looking to a key jobs report this week to confirm their wagers that the US economy is strong enough to push the Federal Reserve (Fed) to lift interest rates by next year.

Technology

Top tech fund targets SK Hynix stake

SEOUL: A top-performing technology fund plans to own SK Hynix Inc's shares, betting that tighter supply will further benefit the South Korean artificial intelligence (AI) memory chipmaker after a 1,000% rally in the past year. 

Corporate News

Berkshire Hathaway to buy Taylor Morrison for US$6.8bil

NEW YORK: Berkshire Hathaway Inc will acquire Taylor Morrison Home Corp in an all-cash deal worth about US$6.8bil, the first major purchase under chief executive Greg Abel and a vote of confidence in the US housing market. 

Corporate News

PetDag posts softer 1Q26 net profit amid oil price surge

KUALA LUMPUR: PETRONAS Dagangan Bhd (PetDag) has reported a lower net profit of RM283mil in the first quarter ended March 31, 2026 (1Q26), compared to RM293.5mil in the same quarter a year ago, due to higher product costs and expenditures, which lowered the commercial segment's contribution.

Business

Experts: Long-term tie-up vital in FDI lure

HANOI: As Vietnam enters a new phase of development driven by ambitions for fast and sustainable growth, the question of attracting foreign direct investment (FDI) is no longer simply about the scale of capital inflows.

Business

ECB’s Schnabel warns shock can no longer be ignored

SEOUL: The European Central Bank (ECB) can no longer look through the inflationary impact of the US-Israel war on Iran as price pressures spread beyond energy and the risk of unanchored inflation expectations rises, according to executive board member Isabel Schnabel.

Markets

Markets bet on peace  as the war grinds on

NEW YORK: Three months into the US-Israel war on Iran, it has become all but impossible to damp the bullish spirit driving global markets for risky assets.

Aviation

EasyJet calls Castlelake potential takeover approach opportunistic

LONDON: EasyJet Plc's board is calling the overture by investment firm Castlelake LP "highly opportunistic" as the UK budget carrier grapples with a depressed stock price, cautioning that attempting a takeover would be fraught with risk.

Business

Russia seeks growth as economy creaks

ST. PETERSBURG: Russian President Vladimir Putin will host his fifth wartime economic conference in St. Petersburg, with his government struggling for a growth strategy as Ukrainian drone attacks hit the economy and businesses see no end to the war.

Analyst Reports

Weaker consumer sentiment weighs on Amway

PETALING JAYA: Margins at Amway (M) Holdings Bhd are expected to remain under pressure moving forward as weaker discretionary spending and softer demand for higher-priced consumer products continue to weigh on the company's earnings outlook.

Business

Ample yuan liquidity reflects weak demand

SHANGHAI: Recent ample yuan liquidity in China's onshore market are not a result of excess money supply but reflect a lack of effective financing demand, a former foreign-exchange (forex) regulator says.

Business

India retains jet fuel prices after airline plea

NEW DELHI: India's state-owned oil refiners have kept jet fuel prices steady for local flights following a plea from airlines to hold off on further hikes as they grapple with the fallout from the Iran war. 

Economy

Export growth hits new highs on AI chip boom

SEOUL: South Korea's exports have grown more than expected at the strongest annual rate in over four decades, as a global boom in artificial investment (AI) drives chip sales to a record, swelling optimism on the trade-reliant economy and its world-beating stock rally.

Business

Japan’s capex growth stalls amid Iran war fears

TOKYO: Japanese companies' pace of annual spending on plant and equipment has stalled in the first quarter (1Q) after a year of strong expansion, likely prompting a downgrade to economic growth as concerns mount over the impact of the Middle East conflict.

Markets

Goldman Sachs lifts 12-month STOXX 600 target on resilient earnings

NEW YORK: Goldman Sachs is raising its 12-month target for STOXX 600 index to 660, the US brokerage says, citing resilient corporate earnings growth despite the US-Israel war on Iran.

Corporate News

SNS Network eyes growth from digital demand

PETALING JAYA: SNS Network Technology Bhd believes structural shifts in the digital space will present meaningful opportunities for the company to deepen its role within the technology value chain.

World

Urgent: U.S. strategic petroleum reserve hits lowest level since January 2024

NEW YORK, June 1 (Xinhua) -- The U.S. strategic petroleum reserve fell to 357.1 million barrels as of May 29, marking the lowest inventory level since January 2024, according to the latest data from the Department of Energy.