Economy 4h ago

Dollar tumbles as trade war hits US economic data

NEW YORK: The dollar fell on Friday from a two-year high against a basket of major currencies after orders for U.S.-made capital goods fell, further evidence that manufacturing and the broader economy are slowing, due in part to the U.S.-China trade dispute.

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Business News 2h ago

Key takeaways

1. Optimism and trust are becoming scarce

Corporate News 5h ago

Optimism on Genting group continues

The Genting group of companies, one of Malaysia’s most cash-rich conglomerates, begins its current financial year with a dent in its bottom line.

Corporate News 23h ago

US beer industry blames Trump tariffs for 40,000 job losses

NEW YORK: The US beer industry is blaming a jobs hangover on the Trump administration’s tariffs.

A report by two trade groups showed US beer-industry jobs dropped 40,000 since 2016 as metal tariffs boosted aluminum-can costs, leading to a drop in investment.
Markets 5h ago

US-China trade war intensifies

IT started with US President Donald Trump imposing tariffs on metal imports from China into the United States.

Electronic hit: Hikvision cameras in an electronic mall in Beijing. Shares in two top Chinese surveillance firms plunged on Wednesday following reports Washington is considering banning them from buying US components, just as the blacklisting of telecoms giant Huawei fanned their escalating tech war. — AFP
Business News 5h ago

Chip stocks under pressure

BURSA Malaysia’s technology stocks rebounded on Friday, following two consecutive trading days of steep losses over the holiday-shortened week.

Business News 5h ago

US$2.6 trillion wiped out as Asia braces for more

HONG KONG: Asia investors looking for a bottom to this month’s market sell-off may have to wait a little while longer, with stocks set to hit yet another dubious marker.

Bearish market: An electronic ticker displays share prices at the Tokyo Stock Exchange in Tokyo. The MSCI Asia Pacific Index is down 0.2% following losses in New York overnight, with declines in Japan and Korea offsetting a modest advance in Hong Kong. — Bloomberg
Business News 5h ago

How this trade war will remake the world

President Donald Trump has long said the goal of his trade policy is simply to get better deals for Americans. But as the trade war intensifies, it seems increasingly likely that his policies will lead to something more: a lasting break with China and a new alignment of global power.

Business News 5h ago

Deloitte research reveals a ‘generation disrupted’

DESPITE current global economic growth, expansion and opportunity, Millennials and Gen Z are expressing uneasiness and pessimism – about their careers, their lives and the world around them, according to Deloitte’s eighth annual Millennial Survey released on May 20.

Airlines 19h ago

China carriers say losses from Boeing 737 Max grounding to top US$500m

BEIJING: Chinese airlines seeking compensation from Boeing Co. said the grounding of its 737 Max jet is on track to result in losses of more than $500 million for the carriers.

Lion Air Flight 610 was the first Max to crash, in the waters off Indonesia in late October, killing all 189 people on board.