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Tesla to bring most collision repairs in-house

Tesla Inc is bringing most collision repairs in-house, Chief Executive Officer Elon Musk said in a tweet on Sunday, saying owners of the vehicles were experiencing excessive wait times at body shops.

An aerial view of the Tesla Gigafactory near Sparks, Nevada, U.S. August 18, 2018. - Reuters

UK consumer spending grows at fastest pace since Jan

LONDON: British consumer spending grew over the three months to August at the fastest pace since January, chiming with other signs the economy has picked up some steam in mid-2018, a survey from payments firm Visa showed on Monday

Inflation-adjusted consumer spending between June and August was 0.3 percent higher than in the three months before, up from growth of 0.2 percent in the May-July period, Visa said, based on its credit and debit card usage data. (UK consumer spending grows at fastest pace since January - Visa UK-BRITAIN-ECONOMY-CONSUMERS Shoppers carry bags in London Shoppers carry bags in London. - Reuters filepic)

This Weekahead: Will Trump impose tariffs on all Chinese goods?

NEW YORK: U.S. technology and consumer discretionary stocks have been insulated from global trade tensions, but if another round of U.S. tariffs on Chinese goods goes into effect, even those high-flying sectors could come down to earth.

President Donald Trump says he is prepared to move forward with levies on an additional $267 billion - in essence, all Chinese imports into the United States.

Foreign investors still see Malaysia as a lucrative market

KUALA LUMPUR: Despite the gloomy global economic outlook, foreign investors still view Malaysia as a lucrative investment destination, owing to the country’s stable political landscape and steady energy prices.

Rakuten Trade Sdn Bhd head of research Kenny Yee(pic) said this positive sentiment has resurfaced as trade tension between the United States and China have subsided.

Trump likely to announce new China tariffs today

WASHINGTON: US President Donald Trump is likely to announce new tariffs on about US$200bil of Chinese imports as early as today, a senior administration official told Reuters on Saturday.

The tariff level will probably be about 10%, the Wall Street Journal reported, quoting a source. This is below the 25% the administration said it was considering for this possible round of tariffs.

LRT3 likely to resume with reduced budget and revised plan

KUALA LUMPUR: The light rail transit 3 (LRT3) project, which risked being shelved as a result of its cost rising by more than three times, is expected to resume in November with a reduced budget and revised plans, sources say. The cost of the LRT3 project was initially tagged at RM10bil. It was subsequently revealed that the initial costs were somewhat misguided as certain costs were not taken into consideration, and on summing up the total costs, the figure had ballooned to RM31.65bil

Agreement on cost: A source says that contractors of the LRT3 project have agreed to the new revised cost

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