Breakfast briefing: Monday, April 25


  • Business
  • Monday, 25 Apr 2016

To help speed development of self-driving cars, Chief Executive Mark Fields said Ford is hiking investments in Silicon Valley technology firms, tripling its investment in semi-autonomous systems, and more than doubling the size of its Palo Alto research team while expanding its campus in Silicon Valley.

MarketWatch: Even with a spate of high-profile earnings disappointments in recent days from the likes of Caterpillar, Microsoft and Google's parent company, the profit recession that has dogged US stocks since last fall is still expected to come to an end in the second half of this year. - Reuters

Top foreign news

Obama pushes for trade deal as foreign crises weigh: US President Barack Obama said on Sunday he would do whatever he could to advance a controversial trade deal with the European Union in his last eight months in office, but warned that time was running short. - Reuters

US Fed seen holding rates this week with hike still on horizon: US Federal Reserve policymakers are expected to hold interest rates steady when they meet this week, but may tweak their description of the economic outlook to reflect more benign conditions, leaving the path open for future rate rises. - Reuters

Toshiba in final talks on new president: Japan's Toshiba Corp is in final talks to replace president Masashi Muromachi, with senior executive vice-president Satoshi Tsunakawa a leading candidate as it aims to turn the scandal-hit firm back to growth, a source said. - Reuters

CEO: Ford not interested in tie-up with Fiat Chrysler: Ford Motor Co is not interested in a tie-up with Fiat Chrysler Automobiles NV, chief executive Mark Fields said on Saturday, when asked about Fiat Chrysler head Sergio Marchionne's remark that Ford could be a potential merger candidate. - Reuters

Top local stories

Private equity TPG courting AMMB boss Azman?:Several foreign funds including US-based private equity fund TPG Newsbridge are courting AMMB HOLDINGS BHD chairman Tan Sri Azman Hashim with the view of buying up Australia and New Zealand Banking Group Ltd’s (ANZ) block of shares in the Malaysian banking group, sources say. - StarBis

Tiong Nam continues diversification: Tiong Nam Logistics Holdings Bhd, which hopes to sustain its earnings for the financial year ended March 31, is continuing its diversification into property development, e-commerce and heavy project cargo. Currently, more than 95% of the company’s sales is contributed by its core business of total logistics solutions. - StarBiz

Zhulian aims to enter more Indochina markets: Multilevel marketing company Zhulian Corp Bhd is seeking enter more countries in Indochina as the management sees great potential in those markets. It already has a presence in Myanmar.- - StarBiz
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ECO WORLD to bank on Iskandar:: Eco World Development Group Bhd is banking on the progress and develoments taking place in Iskandar Malaysia to attract buyers for its commercial and industrial projects in south Johor. - StarBiz

First LuLu store said to open in Malaysia soon: After several de- lays, Middle Eastern retailer LuLu Group International is expected to commence operations of its first store in Malaysia in May or at the latest by early June, in time to capture the Hari Raya shoppers, sources say. - Edge FD

AGMs/EGMs

British American Tobacco (Malaysia) Bhd

Time: 10am

Venue:  Ballroom 1, 1st Floor, Sime Darby Convention Centre, Jalan Bukit Kiara 1, Kuala Lumpur

Texchem Resources Bhd

Time: 11am

Venue: Pinang Ballroom, Level 3, Jen Hotel, Magazine Road, Penang

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