Take-Two Interactive Software will lay off about 5% of its workforce, or around 600 employees, the publisher of the Grand Theft Auto franchise said on Tuesday, as the video-gaming industry extends its more than two-year long job cuts.

'Grand Theft Auto' maker Take-Two to let go 5% of staff, scrap some projects

Canada will raise capital gains taxes on businesses and wealthy individuals to help pay for tens of billions in new spending aimed at making housing more affordable and improving the lives of young people.

Canada hikes capital gains tax to raise billions for housing

The AI-driven boost in power consumption is going to be big for nuclear energy, according to Joe Dominguez, chief executive officer of Constellation Energy Corp.

AI boom needs nuclear energy, Constellation Energy CEO says

Wall Street see-sawed to a mixed close on Tuesday as rising US Treasury yields and elevated geopolitical worries counteracted a generally positive string of first-quarter corporate results.

US stocks end mixed on rising Treasury yields, Middle East jitters

Wall Street stocks ended lower in choppy trading on Tuesday as Treasury yields climbed, with investors weighing the likely path of interest rates in a resilient US economy with persistent inflation.

Wall Street stocks close lower on higher Treasury yields, rate expectations

KUALA LUMPUR (April 16): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

MyEG, HeiTech Padu, Apex Healthcare, Globetronics Technology, Kossan Rubber, Tomei, GDEX, Serba Dinamik, Alpha IVF and Comfort Gloves

KUALA LUMPUR (April 16): The Malaysian Investment Development Authority (Mida) plays an instrumental investment facilitator role in removing obstacles for prospective investors, said Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

Zafrul: Mida a vital instrument to remove obstacles for prospective investors

NEW YORK/BENGALURU (April 16): The Dow Jones Industrial Average outshone its peers on Tuesday, following upbeat results from health insurer UnitedHealth, while higher Treasury yields and conflict in the Middle East kept investors on edge.

Dow up on UnitedHealth boost; higher bond yields, Mideast tensions cap gains

KUALA LUMPUR (April 16): Comfort Gloves Bhd said two subsidiaries of the group have commenced legal action over an additional tax demand totalling RM99.3 million by the Inland Revenue Board (IRB).

Comfort Gloves’ units go to court over RM99 mil additional tax demand

Tesla Inc shares extended their decline for 2024, pushing the electric-vehicle (EV) maker’s market valuation below US$500 billion (RM2.40 trillion), as a round of job cuts this week further soured sentiment around the company.

Tesla’s value declines below US$500b as risks pile up

NEW YORK/BENGALURU (April 16): Johnson & Johnson's (J&J) first quarter revenue missed Wall Street estimates on Tuesday, with sales of its blockbuster psoriasis drug Stelara coming in lower than expected, as the company prepares for its loss of exclusivity in the US.

J&J's first-quarter revenue misses as Stelara sales fall short

Policymakers around the world are struggling to confront a surging greenback and lofty US interest rates, according to Mohamed El-Erian. 

“Authorities are a little bit frozen around the world as to how do you react to a generalised dollar strengthening?” El-Erian, the president of Queens’ College, Cambridge and a Bloomberg Opinion columnist, told Bloomberg Television on Tuesday. “How do you react to a generalised increase in interest rates in the US?”

El-Erian says world ‘frozen’ by strong dollar, high US rates

Tesla's global job cuts include reducing staff in the US and China, the automakers' two biggest markets, across sales, tech, and engineering, five sources briefed on the matter said.

Chief executive officer Elon Musk on Monday told staff in an internal memo seen by Reuters that the company is laying off more than 10% of its global workforce, as it grapples with falling sales and an intensifying price war for electric vehicles.

Tesla's global job cuts include leading markets US, China

Bain Capital has proposed an initial public offering (IPO) of Japan's Kioxia Holdings, as part of a plan to allow the money-losing chipmaker to refinance a US$5.8 billion (RM27.79 billion) loan coming due in June, according to a person familiar with the matter.

Bain proposes Japan's Kioxia IPO to clear US$5.8b loan refinance

KUALA LUMPUR (April 17): Malaysia intends to export up to 300MW (megawatts) of renewable energy (RE) to Singapore using all the remaining capacity of an existing power line that connects to the city state, that is known simply as the Malaysia-Singapore power interconnection, according to the guide for cross-border electricity sale of renewable energy sources (CBES RE) published by the Energy Commission (EC).

Green energy sale to Singapore capped at 300MW, Single Buyer to operate energy exchange — EC

The recent spike in crude palm oil (CPO) prices echoes the commodity boom of 2021/22, as supply constraints from lower palm oil production and robust consumer demand push prices up.

Good time to buy planters even as CPO rally seen losing steam soon — analysts

The US Securities and Exchange Commission has blocked third-party messaging apps and texts from employees’ work mobile phones, bringing its own practices closer to the standards it’s enforcing for the industry.

US SEC targets its own staff’s texting, nixes WhatsApp on work phones

The US Treasury’s cash balance surged on Monday as payments poured in at the government’s mid-April deadline for income taxes.

US Treasury cash balance jumps most in two years as tax payments rise

Wu Huazhan's Chinese television factory used to impose minimum orders to manage production efficiently. Times are now so bleak, it will take any order.

At Chinese trade fair, exporters despair their goods are 'as cheap as cabbage'

KUALA LUMPUR (April 16): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

Practice Note 17 (PN17) company Serba Dinamik Holdings Bhd said it had been granted an extension of time until May 15 by Bursa Malaysia to submit its regularisation plan.

Bursa grants Serba Dinamik second extension of time until May 15 to submit regularisation plan

The Ministry of Investment, Trade and Industry (Miti) will draw up a comprehensive semiconductor strategic plan to ensure that Malaysia continues to be the chosen investment destination for this strategic industry, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar: Miti to draw up comprehensive semiconductor strategic plan

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Tesla Inc&nbsp;shares extended their decline for 2024, pushing the electric-vehicle (EV) maker’s market valuation below US$500 billion (RM2.40 trillion), as a round of job cuts this week further soured sentiment around the company.&nbsp;

KUALA LUMPUR (April 16): The 14-year-old daughter of Lahad Datu police chief ACP Dzulbaharin Ismail was found dead in a pool of blood, in a room at her home in Taman Tabanak, Lahad Datu on Tuesday.

Teen daughter of Lahad Datu police chief found dead in pool of blood

KUALA LUMPUR (April 16): Newly-listed fertility care company Alpha IVF Group Bhd made a net profit of RM13.59 million for its third quarter ended Feb 29, 2024 (3QFY2024), on a revenue of RM40.7 million.

Alpha IVF makes RM13.6 mil net profit in 3Q, sees rising demand for fertility solutions amid resurgence in medical tourism

KUALA LUMPUR (April 16): Comfort Gloves Bhd said two subsidiaries of the group have commenced legal action over an additional tax demand totalling RM99.3 million by the Inland Revenue Board (IRB).

KUALA LUMPUR (April 16): Express carrier GDEX Bhd, which has been in the red for the last two financial years, is planning to diversify into the provision of information technology (IT) services and solutions to enhance its revenue stream.

GDEX plans to diversify into IT

KUALA LUMPUR (April 16): Gold jewellery manufacturer Tomei Consolidated Bhd, whose share price hit a record high last week amid rising gold prices, has declared a first and final dividend of four sen per share for the financial year ended Dec 31, 2023 (FY2023).

Tomei declares four sen dividend for 2023, expects 'reasonable profit' for 2024

WASHINGTON (April 16): US Treasury Secretary Janet Yellen on Tuesday warned that the US intends to hit&nbsp;Iran&nbsp;with new sanctions in coming days&nbsp;over its unprecedented attack on Israel, and these actions could seek to reduce&nbsp;Iran’s capacity to export oil.

US to hit Iran with new sanctions in ‘coming days’, Yellen says

KUALA LUMPUR (April 16): The Malaysian Investment Development Authority&nbsp;(Mida) has&nbsp;appointed&nbsp;Sikh Shamsul Ibrahim Sikh Abdul Majid as its&nbsp;new chief executive officer (CEO), effective April 18, 2024.&nbsp;

Mida appoints Sikh Shamsul as new CEO

The Kelana Jaya Line Light Rail Transit (LRT) service is operating with a limited number of trains, due to a disruption to&nbsp;the power supply system which was struck by lightning at 3.30pm on Tuesday.

Power supply disruption affects Kelana Jaya Line LRT service

Wall Street stocks ended lower in choppy trading on Tuesday as Treasury yields climbed, with investors weighing the likely path of interest rates in a resilient US economy with persistent inflation.

The International Monetary Fund (IMF) inched up its expectations for global economic growth this year, citing strength in the US and some emerging markets, while warning the outlook remains cautious amid persistent inflation and geopolitical risks.&nbsp;

IMF lifts growth forecast for global economy but warns of risks

Policymakers around the world are struggling to confront a surging greenback and lofty US interest rates, according to Mohamed El-Erian.&nbsp;

“Authorities are a little bit frozen around the world as to how do you react to a generalised dollar strengthening?” El-Erian, the president of Queens’ College, Cambridge and a Bloomberg Opinion columnist, told Bloomberg Television&nbsp;on Tuesday. “How do you react to a generalised increase in interest rates in the US?”&nbsp;

KUALA LUMPUR (April 16): The Malaysian Investment Development Authority&nbsp;(Mida) plays&nbsp;an instrumental investment facilitator role in removing obstacles for prospective investors, said&nbsp;Investment, Trade and Industry (Miti)&nbsp;Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

The High Court on Tuesday set a three-day trial in January 2026 for the defamation suit filed by former culture, arts, and tourism minister Tan Sri Abdul Kadir Sheikh Fadzir against businessman Datuk Seri Aliff Syukri Kamaruzaman over defamatory statements involving tens of millions of ringgit in investment debts.

Ex-minister's defamation suit against businessman to be heard in January 2026

PUTRAJAYA (April 16): Malaysians in West Asia, namely Iran, Iraq, Jordan and Lebanon, are reminded&nbsp;to continue to be vigilant and adhere to instructions of the local authorities, following the reopening of airspace and the resumption of flight operations in these four countries, said the Malaysia’s Foreign Ministry.

Malaysian travellers in West Asia reminded to be vigilant following reopening of airspaces — Wisma Putra

Intel will release two artificial intelligence (AI) chips with reduced capabilities for the Chinese market, in order to comply with US&nbsp;export controls and sanctions.

HL-328 is&nbsp;scheduled for launch in June, and HL-388 in September, according to a white paper on the company's website last Friday.

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