Business News

07.09.2024 - Goldman Sachs melaraskan jangkaannya untuk pengeluaran minyak OPEC+ berkata ia kini menjangkakan peningkatan pengeluaran selama tiga bulan bermula dari Disember dan bukannya Oktober, kata bank itu dalam nota pada hari Jumaat. OPEC+ telah bersetuju untuk menangguhkan peningkatan pengeluaran minyak yang dirancang untuk Oktober dan November, kata kumpulan pengeluar itu pada Khamis selepas harga minyak mentah mencecah paras terendah dalam tempoh sembilan bulan, sambil menambah ia boleh menjeda atau membalikkan kenaikan jika perlu. Bagaimanapun Goldman Sachs mengekalkan julat minyak mentah Brentnya pada $70-85 setong dan ramalan Brent Disember 2025 pada $74 setong. Bank pelaburan itu menjangkakan kesan pengurangan sederhana...

07.09.2024 - Bank pusat China tidak menambah sebarang emas kepada rizabnya untuk bulan keempat berturut-turut pada bulan Ogos kerana harga logam berharga itu meningkat kepada rekod. Bullion yang dipegang oleh People’s Bank of China tidak berubah pada 72.8 juta troy auns pada akhir bulan lalu, menurut data rasmi yang dikeluarkan pada hari Sabtu. PBOC telah menambah simpanannya selama 18 bulan berturut-turut sehingga April tahun ini, membantu menyokong kekuatan harga jongkong. Penghentian pembelian oleh PBOC menambah tanda bahawa harga yang melonjak menyekat permintaan bank pusat global, selepas pembelian kukuh pada separuh pertama. Namun, beberapa penganalisis melihat pembelian bank pusat kekal sebagai pemacu utama untuk emas tahun...

07.09.2024 - Rizab pertukaran asing China meningkat ke paras tertinggi dalam tempoh lebih 8-1/2 tahun pada bulan Ogos, data rasmi menunjukkan pada hari Sabtu, sebahagian besarnya disebabkan oleh dolar A.S. yang lebih lemah secara amnya. Rizab pertukaran asing negara - terbesar di dunia - meningkat sebanyak $31.8 bilion kepada $3.288 trilion bulan lepas, menempah pengembangan bulanan kedua berturut-turut dan mencecah paras tertinggi sejak Disember 2015. Tetapi ia meleset sedikit ramalan $3.289 trilion dalam tinjauan penganalisis Reuters. Yuan meningkat 1.9% berbanding dolar pada Ogos, manakala dolar bulan lepas melemah 2.2% berbanding sekumpulan mata wang utama lain. Source...

Oil was steady near a seven-week low on a shaky demand outlook, especially in the biggest importer China. Brent crude traded below $80 a barrel after losing more than 3% over the previous two sessions, while West Texas Intermediate was around $76. Banks including Citigroup Inc. have downgraded their growth forecasts for Asia’s biggest economy, while physical export prices of US oil heading to Asia are weakening. Crude remains modestly higher for the year, aided by OPEC+’s supply cutbacks and expectations for lower borrowing costs in the US. An interest-rate decision from the Federal Reserve is due on Wednesday, while OPEC+ will hold a monitoring meeting a day later. The market is split on whether the cartel will proceed with a...

FILE PHOTO: Small toy figure and mineral imitation are seen in front of the BHP logo in this illustration MELBOURNE (Reuters) -Global miner BHP Group and Canada-listed Lundin Mining will jointly take over developer Filo Corp for C$4.5 billion ($3.25 billion), the companies said on Monday, as they move to progress the South American projects. BHP and Lundin will form a 50/50 joint venture to hold both the Filo del Sol and Josemaria projects around the Argentine-Chile border. BHP and Lundin have offered C$33 per Filo share, reflecting a 12.2% premium to the Canadian copper miner's last close on Monday. Under the deal, BHP is expected to pay a total of $2.1 billion in cash. Reuters reported on July 12 that Lundin and BHP were weighing...

26.04.2024 - A selloff in global bonds paused as traders waited for US inflation to shed light on whether the Federal Reserve will be able to cut interest rates this year. Treasuries gained on Friday after a rout this week pushed yields to their highest levels of the year, with European rates following suit. Japan’s benchmark notes advanced after the nation’s central bank kept its key interest rate unchanged. Investors now await a series of US inflation reports to fine tune their bets on when the Fed will begin cutting interest rates. Evidence that price growth remains sticky has pushed the expected start date back by months over recent weeks, with traders now only fully pricing a quarter-point reduction by December. “All eyes are on...

Pengendali pelabuhan terbesar Malaysia, Westports Holdings Bhd., sedang mempertimbangkan pelabur strategik luar untuk membantu membiayai pengembangan 39.6 bilion ringgit ($8.3 bilion) yang akan menyaksikan kapasiti hampir dua kali ganda dalam dekad akan datang. "Kami akan terbuka kepadanya, jika ia adalah seseorang yang boleh datang dan menambah nilai kepada kami," kata Pengerusi Eksekutif Ruben Emir Gnanalingam. "Kami tidak menolak apa-apa." Syarikat itu juga sedang mengkaji pelan pelaburan semula dividen dan meminjam untuk membantu membiayai pengembangan kemudahan di Klang, katanya dalam temu bual di tapak itu. Pelabuhan itu adalah yang kedua terbesar di Asia Tenggara dan rancangannya akan menyaksikan peningkatan kapasiti kepada 27...

Bitcoin (BTC-USD) Bitcoin is back in the news, as its price briefly rose past the symbolic $50,000 (£39,449) mark on Monday, and maintained that level into the morning on Tuesday. It hasn't hit these levels since late 2021, with many inflows attributed to the recent approval of spot bitcoin ETF offerings and the anticipated Bitcoin halving event in April. It was trading around 4.2% higher by late-morning in London, up to just under $50,000. Ethereum (ETH-USD), the second largest cryptoasset by market cap, was also trading around 7.6% higher. Arm (ARM) Chipmaker ARM's stock continued to rally, popping nearly 30% in US trading hours on Monday, after it reported third-quarter earnings that beat expectations last Wednesday and upped its...

05.02..2024 - Perdana Menteri Malaysia Anwar Ibrahim menyeru rakyat supaya bertenang di tengah-tengah kritikan meluas terhadap pengurangan hukuman bekas pemimpin Najib Razak yang dipenjarakan kerana jenayah berkaitan dana negara bermasalah 1Malaysia Development Bhd (1MDB). Anwar memberitahu penjawat awam pada Isnin (5 Feb) bahawa dia tidak boleh dipersalahkan kerana kelonggaran pengampunan diraja yang diberikan kepada Najib minggu lalu, kerana Perlembagaan Persekutuan memberi kuasa kepada raja-raja Melayu untuk mengampunkan banduan. Najib menyaksikan hukuman penjara 12 tahunnya dikurangkan separuh, dan dendanya dikurangkan, berikutan mesyuarat Lembaga Pengampunan, yang dipengerusikan oleh raja Malaysia sebelum beliau menamatkan...

05.02,2024 - Worsening attacks in the Red Sea have quickly unwound some of the gains on Bloomberg’s Trade Tracker with supply chain bottlenecks threatening to choke the recovery in global exports. Four out of 10 gauges on the dashboard were in below-normal range in February, from just three at the start of the year as Taiwan’s export orders plunged more than expected. Shipping volumes in Los Angeles slipped back into normal territory after showing a positive reading, while port activity in Singapore and Hong Kong likewise dropped. Sentiment is souring amid fears the improvement in global trade could be short-lived as Yemen’s Houthi rebels steadily ramp up their attacks on commercial vessels in the Red Sea. That’s doubled freight costs...

05.02,2024 - Yandex NV reached an agreement to sell its Russian business, including the nation’s most popular search engine, for about $5.2 billion, the highest-valued deal yet to exit Russia following the invasion of Ukraine. The divorce, which took more than a year to negotiate, opens the way for Yandex, which has been registered in the Netherlands since 2007, to develop some projects abroad after divesting Russian units that had generated most of its revenue. Yandex management will get the biggest stake in the Russian business, while a fund owned by Lukoil PJSC will hold 10%, the oil company said Monday. The 475 billion ruble sale dwarfs what was until now the largest deal by value — Prosus NV’s sale of its Russian classified-ads...

Citigroup (C) berada di tengah-tengah penstrukturan semula yang rumit. Ia menjelaskan pada hari Rabu bahawa laporan pendapatan suku keempatnya pada hari Jumaat akan menjadi rumit juga. Bank gergasi yang berpangkalan di New York itu berkata dalam dokumen pengawalseliaan ia akan mengambil lebih daripada $3 bilion dalam rizab dan perbelanjaan sekali sebagai sebahagian daripada keputusan suku keempat tersebut. Ia termasuk segala-galanya daripada binaan rizab $1.3 bilion untuk pendedahan mata wang di Argentina dan Rusia kepada caj $780 juta yang berkaitan dengan kos pemberhentian dan aspek lain dalam penstrukturan semula meluas bank yang diketuai oleh Ketua Pegawai Eksekutif Jane Fraser. Ia juga akan melaporkan caj sebanyak $1.7 bilion...

World's Largest Reserve Of REE Lithium Discovered Beneath California's Salton Sea: $540 Billion Motherlode Could Meet America's Supply Demands For Decades; 27.12.2023 - When it comes to rare-earth elements (REEs), lithium stands out because of its usefulness and potential value. That's why the Department of Energy (DOE) was jumping for joy when it discovered what is believed to be the world's largest supply of lithium beneath California's Salton Sea. The estimated 18 million-ton motherlode could be worth up to $540 billion and meet America's demand for decades to come. In the 1990s, lithium was perhaps most famous for being the title of a hit song by the band Nirvana. Fast forward 30 years, and Lithium has become famous as an...

28.11.2023 - Gold's (GC=F) upward trend above $2,000 per ounce is prompting calls for a rally to a new all-time high. Futures were 0.5% higher on Monday, just north of $2,013 per ounce. Prices are at six-month highs and up two weeks in a row. That has boosted hopes that the precious metal could top its all-time high of $2,074.88 reached in August 2020. "Gold [is] showing additional proof that a rally back to new all-time Highs is underway," Mark Newton, head of technical strategy at Fundstrat, wrote in a recent note to clients. "My technical target for gold is $2500/oz, and it looks appealing to be long precious metals given falling real rates, rising cycles and ongoing geopolitical conflict," said Newton. Most traders consider $2,050...

19.11.2023 - On Friday, the board of OpenAI, the AI startup behind ChatGPT and other viral AI-powered hits, did something unexpected but seemingly well within its right: removed the company's CEO, Sam Altman. But judging by how the situation's unfolded, it seems that OpenAI's investors and partners — and many of its employees — were more comfortable with the idea of the board's power than it exercising that power. And they didn't count on the cult of personality surrounding Altman, the former president of Y Combinator and a longtime fixture of the Silicon Valley startup scene. On Saturday evening, just over 24 hours after the OpenAI board unceremoniously announced that Altman would be replaced by Mira Murati, OpenAI's CTO, on a...

(Reuters) - Building solutions provider Johnson Controls warned of a delay in reporting its fourth-quarter results due to a previously disclosed cybersecurity incident, sending its shares down 1.3% after the bell. The company now expects to report its fourth-quarter and year-end results by Dec. 14. "The cybersecurity incident caused disruptions to portions of the company's systems that support or provide data used in financial reporting," Johnson Controls said. The incident, which was first detected on Sept. 23, involved unauthorized access and a ransomware attack by a third party, according to the company. In ransomware attacks, hackers encrypt an organization's systems and demand ransom payments in exchange for unlocking them...

FILE PHOTO: A street sign for Wall Street hangs in front of the New York Stock Exchange NEW YORK (Reuters) - U.S. companies are set for their biggest year-over-year gain in quarterly earnings since the second quarter of 2022 after a high percentage of S&P 500 companies beat Wall Street expectations. With results in from almost all of the S&P 500 companies, overall third-quarter earnings are estimated to have increased 6.3% from the year-ago period, LSEG data showed on Friday. That is well above the 1.6% third-quarter earnings gain estimated by analysts Oct. 1. LSEG said that 81.3% of the quarterly reports surpassed analysts' earnings expectations, which is the highest beat rate since the second quarter of 2021. To be sure...

Disney CEO Bob Iger said ESPN will transition to streaming "no later than 2025." Disney (DIS) CEO Bob Iger is more bullish than ever on ESPN's direct-to-consumer transition. "ESPN is a very popular, high in-demand product in the United States," the executive said on the company's quarterly earnings call on Wednesday. "We feel leaning into it is the smart thing to do because of its unique quality and how popular it is and how profitable it has been." "We have an opportunity, as we bring it in the direct-to-consumer direction, to strengthen our hand," he continued. "We do that by partnering with either tech companies that can provide us with marketing, technology support, and customer acquisition help or sports leagues that can...

Warner Bros. Discovery reported a wider-than-expected loss in the third quarter as the media giant works to pare down its debt amid various challenges, including the Hollywood strikes and an unfavorable ad environment. Warner Bros. Discovery (WBD) stock fell more than 19% Wednesday after the company noted ongoing weakness in the ad market, saying it could impact visibility for 2024. CFO Gunnar Wiedenfels said on the company's post-earnings conference call that 2024 "will have its share of complexity, particularly as it relates to the possibility of continued sluggish ad trends." He added that "it is unlikely from today's perspective that we will hit our target leverage range by the end of 2024 without a meaningful recovery of the TV...

Christine McCarthy lepas jawatan, digantikan Hugh Johnston dari PepsiCo berkuatkasa 4 Disember 2023. Pembentangan kewangan syarikat pada 8 November 2023. Membeli 33% pegangan saham TV Streaming Hulu. Disney mengumumkan bahawa bekas pengarah eksekutif PepsiCo (PEP), Hugh Johnston, akan berubah angin dan berhasrat untuk menerajui Disney sebagai Pegawai Senior Eksekutif kanan dan juga sebagai Ketua Pegawai Kewangan, berkuat kuasa pada 4 Disember 2023. Johnston telah berkhidmat di PepsiCo selama 34 tahun di mana beliau memegang beberapa portfolio yang penting termasuk jawatan CFO selama lebih dari satu dekad yang lalu. Disney CFO Hugh Johnston (Courtesy: The Walt Disney Company) Semasa di PepsiCo, beliau berperanan dan berjaya menepis...