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Global forex market

The dollar erased its weekly gains, closing marginally lower by 0.02% to 96.8 after the US Federal Reserve’s Williams commented on the need for the central bank to “act quickly” as economic growth slows, fuelling market players to add bets on a 50-basis point (bps) cut in July’s FOMC meeting.

London Biscuits addresses issues

LONDON Biscuits Bhd’s recent trigger of Practice Note 17 (PN17) does seem like a bad end to an already gloomy story that had been hovering over the confectionery manufacturer in recent times.

Market rumours: A worker manning a production line at London Biscuits’ factory in Ulu Tiram, Johor. There are market rumours that the company could be subject of some merger and acquisition activities or even being privatised by its owners.

CIMB Research positive on YSP Southeast Asia expansion plans

KUALA LUMPUR: CIMB Equities Research remains positive on YSP Southeast Asia Holdings Bhd as it expects the pharmaceutical and veterinary products manufacturer’s regional expansion plans to bear fruit over the next few years.

Lufax to ditch P2P lending amid regulatory woes

BEIJING: Lufax, one of China’s largest online wealth management platforms that is backed by financial giant Ping An Insurance, plans to exit its once-core peer-to-peer lending (P2P) business, three sources with direct knowledge of the matter told Reuters.

SDS Group to issue 104 million new shares for IPO

KUALA LUMPUR: Bakery products maker SDS Group Bhd will issue 104.29 million new shares or 25.7% of the enlarged share capital under its proposed listing on the ACE Market.

Japan manufacturers' mood hits three-year low

TOKYO: Japanese manufacturers' business confidence hit a three-year low in July, highlighting the fragility of the export-led economy as external demand slackens in the face of cooling global growth and trade friction, the Reuters Tankan showed.

The Reuters Tankan aligned with the Bank of Japan's closely watched quarterly tankan business survey out earlier this month, which showed big manufacturers' business confidence fell to a nearly three-year low in the quarter to June.