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APPLE Inc has thrown out its March-quarter revenue guidance three weeks after providing it.
HONG KONG: HSBC Holdings PLC says it will shed US$100bil in assets, shrink its investment bank and revamp its US and European businesses in a drastic overhaul that will mean 35,000 jobs cut over three years.
BEIJING: Concern is mounting over the speed of a nearly US$900bil rebound in Chinese equities that’s been driven by bets of sustained government support.
PETALING JAYA: The technology index of Bursa Malaysia declined 2.7%, or 1.11 points, to 40.02 points on Tuesday, following Apple Inc’s warning of missing its revenue target for the second quarter, largely caused by the impact of Covid-19.
SINGAPORE: Singapore Airlines Ltd will cut more flights across its global network through May as the outbreak of the novel coronavirus discourages people from travelling.
New York: Wanda Sports Group Co, the China-based sports marketing and event promoter, is considering selling the Ironman triathlon business it bought in 2015, according to sources.
KUALA LUMPUR: The World Bank Group is reviewing Malaysia’s economic growth again for 2020, measured by gross domestic product (GDP), given the 2019 novel coronavirus (Covid-19) outbreak, said its representative to Malaysia and country manager Firas Raad.
PETALING JAYA: IOI Corp Bhd posted a 9.2% year-on-year (y-o-y) rise in its net profit to RM213.5mil for the second quarter ended Dec 31,2019.
SINGAPORE: Singapore announced financial packages worth around US$4.5bil to help contain the coronavirus outbreak in the city-state and weather its economic impact.
KUALA LUMPUR: IOI Corp Bhd said higher palm oil selling prices boosted profits at its plantation division in the December quarter, mitigating the impact of a RM92mil fair value loss on derivative financial instruments suffered by its resource-based manufacturing business.