Tesla Inc’s job cuts are escalating in China, according to people familiar with the matter, as Elon Musk contends with growing pressure to win back share in the world’s biggest auto market.

Tesla ramps up job cuts in China as sales slowdown bites

Singapore's biggest bank DBS Group said on Wednesday that it has appointed Ping An Technology's chairman and CEO Eugene Huang as its chief information officer (CIO) effective Friday.

Singapore's DBS appoints Ping An Technology CEO as chief information officer

FRANKFURT/DUESSELDORF (May 8): Siemens Energy will replace the boss of its troubled wind turbine division after little more than two years in the job, the company said on Wednesday, also flagging job and capacity cuts as it tightens its grip on the loss-making business.

Siemens Energy shakes up management at troubled wind unit, raises outlook

Goldman Sachs said on Tuesday it had appointed Robert Kaplan, the former president of the Federal Reserve of Dallas, as its vice chairman, bringing an influential banker on to its management committee.

Goldman Sachs names former Fed Dallas chief Kaplan as vice chairman

Citi has appointed Damien Tan as head of corporate bank for Singapore. Tan was appointed to the role on May 1.

Citi appoints Damien Tan as head of corporate bank for Singapore

KUALA LUMPUR (May 6): RHB Bank Bhd said on Monday that it has appointed Mohd Najman Isa as the new chief executive officer (CEO) and chief investment officer of RHB Islamic International Asset Management Bhd (RHBIIAM). The appointment took effect on April 8.

RHB names Mohd Najman Isa as CEO of Islamic asset management unit

If you want to know how your green stock portfolio is likely to perform next quarter, you should take a look at hedge funds’ options bets.

Hedge funds’ options bets hand green investors a path to predicting returns

Ulrich Korner, the final CEO of Credit Suisse, is set to leave UBS in the coming weeks, the Financial Times reported on Monday.

Final Credit Suisse CEO, Ulrich Korner, to leave UBS — FT

Paytm appointed new business executives as the troubled fintech firm’s chief operating officer resigned.

Paytm appoints new executives as COO resigns

China's Ping An Insurance Group Co, the biggest Asian investor in HSBC did not support reappointing chief executive Noel Quinn as a director to the banks board at the its shareholder meeting, a source familiar with the matter told Reuters on Saturday, as the investor voted against such a move.

Ping An votes against reappointment of HSBC CEO as director — Reuters

China's Huawei Technologies has moved the high-profile chief of its consumer business, Yu Chengdong, to a new role as chair of the unit, two people with knowledge of the matter said.

Huawei's high-profile consumer CEO Richard Yu shifts role

Elon Musk's abrupt decision to lay off employees who ran Tesla's electric vehicle charging business blindsided automakers gearing up to equip new EVs for customers to use the Tesla Supercharger network, industry officials and analysts said on Tuesday.

Musk disbands Tesla EV charging team, leaving customers in the dark

HSBC said on Tuesday its chief executive Noel Quinn will retire — a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset sales across the globe.

HSBC chief executive Quinn announces surprise retirement

Paramount Global replaced CEO Bob Bakish with a trio of executives, the company announced on Monday in the middle of talks with David Ellison's Skydance Media about a possible merger.

Paramount replaces CEO with trio as it talks merger with Skydance

Britain bounced back strongly from a shallow recession, providing some relief for Prime Minister Rishi Sunak, who has so far struggled to deliver on his promise to grow the economy.

UK says recession ended with stronger-than-expected growth

Japan's consumer spending fell for the 13th straight month in March, creating challenges for policymakers who are seeking to drive stronger real wage growth, a prerequisite for additional central bank rate hikes.

Japan's consumer spending extends declines, clouding outlook for BOJ rate hikes

Taiwan Semiconductor Manufacturing Co (TSMC) saw April sales jump 60% to NT$236 billion (RM34.49 billion) as sustained artificial intelligence (AI) demand was helped by the beginnings of a recovery in consumer electronics.

TSMC keeps sales growth up in April as AI drives 60% jump

KUALA LUMPUR/MUMBAI (May 10): Malaysia’s palm oil stocks increased at the end of April for the first time in six months, as production jumped despite a drop in exports, the industry regulator said on Friday.

Malaysia’s palm oil stocks surge as output jumps despite weak exports

Malaysia should move faster to build a robust ecosystem to drive the development and adoption of artificial intelligence (AI) technology in the current post-normal era, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia should move faster to build robust ecosystem to drive AI development, adoption, says PM

KUALA LUMPUR (May 10):  theedgemalaysia.com highlighted three stocks with positive momentum and five stocks with negative momentum at Bursa Malaysia's afternoon close on Friday.  

The stocks with positive momentum were:

    Kuchai Development Bhd [KL: ...

Kuchai, VSTECS, AHB, Mclean, Kluang, Prtasco, Skywld, Kobay

KUALA LUMPUR (May 10): Datin Seri Rosmah Mansor faces another legal action, this time revolving around from 1Malaysia Development Bhd (1MDB), SRC International Sdn Bhd and subsidiaries over luxury goods that were obtained through misappropriated funds.

1MDB, SRC file fresh civil suit against Rosmah over US$350 mil luxury goods

Preparations for Saturday's polling day for the Kuala Kubu Baharu (KKB) by-election are running smoothly, said Election Commission (EC) secretary Datuk Ikmalrudin Ishak.

KKB by-election: Polling day preparations running smoothly, says EC

SINGAPORE (May 10): Oversea-Chinese Banking Corporation Ltd (OCBC) has announced a S$1.4 billion voluntary unconditional general offer for the 11.56% stake in Great Eastern Holdings (GEH) that it does not currently own.

Singapore’s OCBC makes privatisation bid for Great Eastern with S$25.60 offer price

Malaysia’s unemployment rate remained steady in March as the number of people without jobs fell while the workforce expanded, official data on Friday showed.

Malaysia's jobless rate stays steady in March, official data shows

Hong Leong Investment Bank (HLIB) Research has a “trading buy” rating on Genting Bhd (KL:GENTING) at RM4.52 with a target price of RM7.12 and said it continues to like Genting for its well-established operational presence across diverse regions, mitigating regulatory and country risks.

HLIB says Genting is undervalued, target price RM7.12

Shares of MCE Holdings Bhd (KL:MCEHLDG) rose to their highest in at least two decades after the automotive parts manufacturer said Brahmal Vasudevan of private equity firm Creador is its newest substantial shareholder.

MCE Holdings surges to highest in at least two decades

With signs of a simmering settlement with the government in one of the longest-standing civil land disputes in history dissipating, the Court of Appeal (COA) has fixed Sept 19 to hear the appeal by Semantan Estate (1952) Sdn Bhd in its seven-decade dispute over 263.272 acres of land along Jalan Duta that is currently occupied by public properties.

No settlement in sight, Semantan Estate’s appeal to resume in Sept

TA Securities has valued ACE Market-bound Smart Asia Chemical Bhd (SAC) at 12 times calendar year 2025 (CY2025) earnings per share (EPS), arriving at a fair value of 54 sen.

TA Securities values ACE Market-bound Smart Asia Chemical at 54 sen 

CIMB Securities Sdn Bhd, a unit of CIMB Group Holdings Bhd (KL:CIMB), said on Friday it is targeting “high” single-digit growth in market share by year end.

CIMB Securities eyes single-digit growth in market share by year end

Shares of Globetronics Technology Bhd [KL:GTRONIC] surged on Friday as analysts project a promising outlook for the group's earnings in the second half of the financial year 2024 (2HFY2024), despite first quarter performance below consensus expectations.&nbsp;

Globetronics surges to one-month high as analysts project strong outlook for 2HFY2024

The Dow Jones Industrial Average closed higher on Thursday, the seventh straight daily advance for the benchmark, as all three major US indexes gained after weekly jobless claims data offered fresh hope for interest-rate cuts.

Dow closes up to make it seven in a row, as jobs data boosts rate-cut hopes

Phillip Capital has maintained its “buy” rating on Pentamaster Corp Bhd (KL:PENTA) at RM4.44 with a higher target price of RM6.23 (from RM5.65) and said Pentamaster’s first quarter of 2024 (1Q2024) core net profit of RM24 million was in line with its and consensus forecasts.

Phillip Capital raises target price for Pentamaster to RM6.23 

World stocks rallied on Thursday, led by surging European shares and a larger-than-expected rise in US weekly jobless claims that buoyed interest rate cut hopes, while the dollar eased as the market awaits key inflation data next week.

Asia stocks rally on renewed global rate cut optimism

Inter-Pacific Research Sdn Bhd said that after a two-day consolidation, the key FBM KLCI index could mount a rebound to end the week on a firmer note.

KLCI seen hovering between 1,600 and 1,610 on Friday

SINGAPORE (May 10): Oversea-Chinese Banking Corporation Ltd (OCBC) has announced a S$1.4 billion voluntary unconditional general offer for the 11.56% stake in Great Eastern Holdings (GEH) that it does not currently own.

KUALA LUMPUR (May 10): Datin Seri Rosmah Mansor faces another legal action, this time revolving around from 1Malaysia Development Bhd (1MDB), SRC International Sdn Bhd and subsidiaries over luxury goods that were obtained through misappropriated funds.

Malaysia’s industrial output rose at a faster-than-expected pace in March from a year earlier with the manufacturing sector leading broad gains, the Department of Statistics Malaysia (DOSM) said on Friday.

Malaysia's industrial output grows faster-than-expected in March, official data shows

Apple Inc issued a rare apology for an advertisement touting its latest iPad Pro that upset many creatives and other customers. The company also said it won’t air the ad on television as planned.

Apple apologises for iPad Pro ad, scraps plan to air it on TV

Singapore's second-largest bank Oversea-Chinese Banking Corp (OCBC) posted on Friday a better-than-expected 5% rise in first-quarter profit and forecast its net interest margin at the higher end of a 2.20% to 2.25% range for the full year.

Singapore's OCBC posts record 1Q profit, lifts margin guidance for 2024

MIDF Amanah Investment Bank started coverage of Allianz Malaysia Bhd (KL:ALLIANZ) with an above-consensus target price of RM23.37, citing stronger-than-average insurance growth and solid dividend yields.

MIDF starts coverage of Allianz Malaysia with above-consensus target price

Aggressive tariff rises under a possible second Donald Trump presidency would likely result in a reduction in US and global output in comparison to an illustrative baseline scenario with no further increases, according to Fitch Ratings.

US-led tariff hikes under renewed trade war would reduce US and world output, says Fitch

US President Joe Biden’s administration is poised to unveil a sweeping decision on China tariffs as soon as next week, one that’s expected to target key strategic sectors while rejecting the across-the-board hikes sought by Donald Trump, people familiar with the matter said.

Biden poised to impose tariffs on China EVs, strategic sectors, Bloomberg reports

Entities are expected to submit a declaration of compliance to the Securities Commission on the Guidelines on Technology Risk Management (GTRM) by the first quarter of 2025, as part of the regulator's commitment to promote cyber hygiene practices.

Entities to submit compliance declaration on SC's Technology Risk Management Guidelines by 1Q 2025

A Hong Kong court has ruled in favour of creditors in cases involving a controversial credit protection mechanism popular among China’s borrowers.

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