MarketWatch: US banks are generally expected to post dismal results when their earnings season gets under way this week, but some analysts say to dig deeper: the fine print in the results, and what bank bosses say, could actually help these long-suffering stocks bounce back. Analysts are expecting first-quarter reports in the financial sector to show a 9.2% decline in earnings and a 0.2% rise in sales. - Reuters
Top foreign stories
UK prime minister announces new tax evasion law in 2016: British Prime Minister David Cameron will say on Monday that new legislation making companies criminally liable if employees aid tax evasion will be introduced this year, as he seeks to repair the damage from a week of questions about his personal finances. - Reuters
Obama to meet Fed chair Yellen today: President Barack Obama will meet with US Federal Reserve chair Janet Yellen on Monday to discuss the economy and Wall Street reform, the White House said on Sunday. Vice-President Joe Biden will also attend the meeting. The president and the Fed chair meet regularly to discuss economic issues. - Reuters
IMF supports move to negative rates by some central banks: The International Monetary Fund said on Sunday that a move to negative rates by some of the world's central banks would help deliver extra monetary stimulus and ease lending conditions. Six of the world's central banks have introduced negative rates, most notably the Bank of Japan and the European Central Bank, and around a quarter of the world economy by output is now experiencing official rates that are less than zero. - Reuters
Daily Mail parent in talks with private equity for Yahoo bid: Daily Mail & General Trust Plc’s potential bid could take one of two forms, according to the report. In one scenario, a private-equity partner would acquire Yahoo’s core web business, with the Mail taking over the news and media properties. In the other scenario, the private-equity firm would acquire Yahoo’s core web business and merge its media and news properties with the Mail’s online operations. - Reuters
Top local stories
China buying more Malaysian Government Securities: The Chinese government has started buying more Malaysian Government Securities and this inflow of new fo eign money could rise to 50 billion yuan (RM30bil) in total, says International Trade and Industry Minister II Datuk Seri Ong Ka Chuan. “This could be one of the key factors contributing to the strength of the ringgit lately," he said. - StarBiz
Fitters eyes RM50mil sales from unit: Fitters Diversified Bhd
hopes its pipe-making subsidiary will achieve RM50mil in sales this year, its first full year of operation, as the company seeks to ramp up production in anticipation of new contracts. - StarBiz
Sona sets sights on more assets in Western Australia: Sona Petroleum Bhd, a cash company seeking to close its first oil and gas acquisition deal, is keeping an eye for new takeover opportunities in Western Australia, where energy firm Santos Ltd is disposing of some of its assets. Sona’s proposed qualifying asset (QA), the Stag Oilfield, is also located in the same area. - StarBiz
SP Setia wins Project of the Year award: SP Setia Bhd clinched the Project of the Year prize at the Malaysia Landscape Architecture Awards 2015 for its Lepironia Gardens project at Setia Eco Glades in Cyberjaya. The project also won the Excellence Award under the “Parks & The City” category. - StarBiz
Parkson confident new China mall will do well: Parkson Retail Group Ltd, a unit of Parkson Holdings Bhd, is confident its new shopping mall in Qingdao, China, which opens later this month, will attract strong retail interest, even as the economic growth in China cools down. - StarBiz
Boston Scientific plant to be ready by 2017: Boston Scientific’s new medical device plant in Batu Kawan Industrial Park, Penang, which will involve hundreds of millions of ringgit in investment, will be operational in the fourth quarter of 2017. - StarBiz
Engtex: Resilient demand from infra jobs heralds better FY16: Steel and ductile iron piping supplier and distributor Engtex Group Bhd, which has seen its earnings slide for the past two financial years, expects to see better results in its year ending Dec 31, 2016, as it expects resilient demand from the infrastructure market to lift its earnings. - Edge FD
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