Breakfast briefing: Monday, November 20


MarketWatch: Just in time for the Black Friday kick-off to holiday season shopping, stock market investors have been handed tools to bet on the decline of brick-and-mortar retail. An exchange-traded fund launched Thursday allows investors to bet on the decline of traditional retail and a second one doubles down by betting at the same time on the rise to supremacy of online sales. - Reuters

 

Top foreign stories

 

Volkswagen to invest US$27b in core brand until 2022: Volkswagen will invest 22.8 billion euros (US$26.9 billion) in its main car brand over the next five years, after announcing a spending programme aimed at bolstering its position as a maker of electric cars. Around 14 billion euros will be spent in Germany, Volkswagen said, adding that one of the key measures included a 1 billion euro injection to transform the carmaker’s Zwickau plant into a pure e-mobility facility. - Reuters

 

Avolon firms up deal for 75 Boeing jets, may order 20 more: Chinese-owned aircraft leasing company Avolon has firmed up an order for 75 Boeing airplanes and may order 20 more, its parent Bohai Capital said on Sunday. Based on published prices, the confirmed part of the deal would be worth US$8.7 billion at list values. - Reuters

 

Allianz well-shielded against takeover attempts, says CFO: Allianz, the world’s fourth largest insurer with a market value of more than 85 billion euros (US$100 billion), is well-protected against potential takeover attempts, its chief financial officer Dieter Wemmer told Boersen-Zeitung newsaper. - Reuters

 

Analysts: Tesla's unfettered ambition will drain finances: Tesla Inc may have to ask creditors and shareholders for more capital to fund development of an electric semi truck, a new roadster and accelerated production of a high-volume electric sedan, analysts say. - Reuters

 

Top local stories

 

Rising cost of living: Malaysians will have to brace themselves for a higher cost of living in the coming months due to the year-end seasonal monsoon pushing up prices of fish and vegetables, as well as higher fuel prices. A early survey shows the median expectation for headline inflation, which includes volatile fuel and food prices, hovering at the 4.1% level in October. - StarBiz

 

Consumer stocks hold up well: Consumer staple stocks continue to hold up well due to anticipation of earnings growth and good dividend payouts. - StarBiz

 

Chin Well plans regional expansion: Steel fastener producer Chin Well Holdings Bhd is planning a regional expansion next year by adding more production lines in Vietnam to meet rising demand for new fasteners. - StarBiz

 

Experts see palm oil price hovering at RM2,600-RM2,900: Experts expect the price of crude palm oil to hover at between RM2,600 and RM2,900 per tonne in next few months before turning weak as supply outstrips demand by mid-2018. - StarBiz

 

StanChart’s digital transformation: Standard Chartered Bank has allocated US$3bil (RM12.5bil) for its digital transformation efforts, with a focus on becoming a digital bank with a human touch, said group chief innovation officer Michael Gorriz. - StarBiz

 

Elsoft sees better H2 performance on higher demand: Test equipment maker ELSOFT RESEARCH BHD expects better performance in the second half of this year due to higher demand for its products. The company currently has orders worth about RM35mil to ship out by year-end. - StarBiz

 

SkyWorld plans projects worth RM2.2b: SkyWorld Development Sdn Bhd is planning up to four projects worth RM2.2bil in gross development value over the next two years. CEO Lee Chee Seng said the company has a sales target of about RM1.3bil for the financial year ending March 31. - StarBiz

 

China’s LONGi to invest RM100m: China-based Xi’an LONGi Silicon Materials Corp will invest about RM100mil next year to expand its manufacturing facilities in Samajaya Free Industrial Zone in Kuching to boost the production capacity of solar panels. - StarBiz


Business News , Breakfast Briefing

   

Across The Star Online