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Broadcom's US$2bil warning rattles global chip sector

LONDON/BENGALURU: Broadcom Inc sent a shockwave through the global chipmaking industry on Friday with its forecast that U.S.-China trade tensions and the ban on doing business with Huawei Technologies would knock US$2 billion off the company's sales this year.

The forecast, included in the company's second-quarter results late on Thursday, was the hardest evidence yet of the damage President Donald Trump's trade war with Beijing may do to the global industry.  Shares in Broadcom fell as much as 8.6%, wiping more than $9 billion off the market value of the company, previously based in Asia but now with its headquarters and main listing in the United States.

US to launch public hearings on additional China tariffs next week

WASHINGTON: The U.S. Trade Representative's Office on Monday will kick off seven days of testimony from U.S. retailers, manufacturers and other businesses about President Donald Trump's plan to hit another $300 billion (£238 billion) worth of Chinese goods with tariffs

Public hearing on President Donald Trump's plan to hit another $300 billion (£238 billion) worth of Chinese goods with tariffs

Investigators to identify Malaysia Airline MH17 suspects

AMSTERDAM: Investigators will next week announce criminal proceedings against suspects in the downing of Malaysia Airlines Flight MH17 five years ago, allegedly by pro-Russian separatists, two leading Dutch broadcasters reported on Friday.

(Left)FILE PHOTO: A Malaysian air crash investigator inspects the crash site of Malaysia Airlines Flight MH17, near the village of Hrabove (Grabovo) in Donetsk region, Ukraine, July 22, 2014. REUTERS, (Right) FILE PHOTO: A pro-Russian separatist stands at the crash site of Malaysia Airlines flight MH17, near the village of Hrabove (Grabovo) in Donetsk region, Ukraine, July 18, 2014. REUTERS

Global stocks, Wall St dip as Fed meeting looms

NEW YORK: U.S. stocks ended nominally lower on Friday as investors awaited next week's Federal Reserve meeting for signs of imminent easing, while the U.S.-Iran confrontation in the Gulf of Oman added to geopolitical uncertainty, sending oil prices higher.

The Dow Jones Industrial Average fell 17.16 points, or 0.07%, to 26,089.61, the S&P 500 lost 4.66 points, or 0.16%, to 2,886.98 and the Nasdaq Composite dropped 40.47 points, or 0.52%, to 7,796.66.  MSCI's broad gauge of stocks across the globe shed 0.33%, while the pan-European STOXX 600 index lost 0.40%.

All eyes on Fed as stock market pines for rate cut

NEW YORK: The Federal Open Market Committee meeting next week is shaping up as a pivotal one for Wall Street, with stocks primed for a selloff should the Fed fail to take an even more dovish tilt after policymakers raised expectations for a rate cut in recent weeks.

Stocks primed for a selloff should the Fed fail to take an even more dovish tilt after policymakers raised expectations for a rate cut in recent weeks.

Tadmax shakes off power plant blues

TADMAX Resources Bhd, a company primarily involved in property development and dogged by uncertainties in its venture into power generation, is seeing some light.

Scientex aggressively expanding land bank

PACKAGING materials maker and property developer Scientex Bhd is aggressively stocking up on its land bank, at a time when most developers are taking it slow when it comes to acquiring and developing land due to the overhang in properties.

IT was the right decision

TWO years ago, engineering services provider Serba Dinamik Holdings Bhd started to build its information technology (IT) segment and now, the group is well poised to reap the fruits of its labour.