Federal Reserve (Fed) vice chair Philip Jefferson said he expects inflation to continue to moderate, with interest rates at their current level, but persistent price pressures would warrant holding borrowing costs high for longer.

Fed’s vice chair sees steady rate helping to push down inflation

US industrial production rose for a second month in March, boosted by a larger-than-expected increase in factory output, as manufacturing showed further signs of stabilising.

US industrial production rises again on boost from manufacturing

There is "no urgency" to cut US interest rates, Mary Daly, the president of the San Francisco Federal Reserve Bank, said on Monday, with the economy and labour market strong, and inflation still above the Fed's target of 2%.

US Fed should not act urgently to cut rates unless required, Daly says

Just a few months ago, life as a Paramount Global bondholder was pretty good.

Paramount’s high-grade bondholders confront junk-status scenarios

NEW YORK (April 16): A key Federal Reserve facility that takes in cash from money market funds and others saw inflows drop sharply on Monday.

The US central bank's reverse repo facility took in US$327.1 billion (RM1.56 trillion), down US$80.2 billion from Friday, marking the lowest leve...

Fed's reverse repo facility plummets to lowest level in nearly three years

Wall Street strategists looking ahead to Dec 31 — when the current suspension of the US debt ceiling ends — gained some clarity from the Justice Department, leading market participants to expect a smaller reduction in Treasury bill supply.

Wall Street is getting debt-ceiling clarity before its return on Dec 31

Most US treasury yields climbed to new year-to-date highs — and the two-year note’s approached 5% — after stronger-than-estimated retail sales data further eroded investor confidence in Federal Reserve (Fed) interest-rate cuts beginning this year.

US treasury yields reach new 2024 highs after March retail sales data

US retail sales rose by more than forecast in March and the prior month was revised higher, showcasing resilient consumer demand that keeps fuelling a surprisingly strong economy.

US retail sales top forecasts as consumers keep fuelling growth

US economic growth that keeps motoring above its potential is emerging as a key prop for an ongoing global expansion, but spillovers from persistently high inflation and tight monetary policy in the world's largest economy could pose new risks to a hoped-for "soft landing" around the world.

US growth may be a global boon, but inflation could derail the train

A series of weak auctions for US Treasurys are stoking investors’ concerns that markets will struggle to absorb an incoming rush of government debt, the Wall Street Journal (WSJ) said.

US bonds are getting harder to sell — report

BlackRock Inc chief executive officer Larry Fink said he expects the US Federal Reserve (Fed) to cut rates twice at the most this year, and that it will be difficult for the central bank to curb inflation.

BlackRock CEO expects Fed to cut rates once or twice in 2024

Citigroup Inc’s profit topped analysts’ estimates as corporations tapped markets for financing and consumers leaned on credit cards — signs that a prolonged period of elevated interest rates will benefit big banks.

Citigroup profit beats estimates as companies, consumers go on borrowing binge

The ranks of Federal Reserve (Fed) officials saying there is no rush to cut interest rates continue to grow, with still-too-hot-for-comfort US inflation a rising concern at home and casting a shadow over expectations for policy easing abroad as well.

Fed officials in no rush to cut rates as inflation worries rise

US credit-card delinquency rates were the highest on record in the fourth quarter, according to a Federal Reserve (Fed) Bank of Philadelphia report.

Almost 3.5% of card balances were at least 30 days past due as of the end of December, the Philadelphia Fed said. That’s the highest figure in the data series going back to 2012, and up by about 30 basis points from the previous quarter. The share of debts that are 60 and 90 days late also climbed.

Credit-card delinquency rates were worst on record in Fed study

Take-Two Interactive Software Inc, the company behind the Grand Theft Auto video games, plans to fire 5% its workforce and drop several projects as part of a cost-savings drive.

‘Grand Theft Auto’ maker to fire 5% of staff, drop 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

Britain condemns the killing of Israeli teenager Binyamin Achimair and is alarmed by the "shocking levels of violence" in the occupied West Bank after his death, the country's foreign office said in a statement on Tuesday.

Britain condemns West Bank killings, calls to 'restore calm'

Paris St Germain's Kylian Mbappe scored twice in the second half to help guide his side to a 4-1 comeback win at 10-man Barcelona in their Champions League quarter-final, second leg to wrap up a 6-4 aggregate victory on Tuesday.

Mbappe scores twice as PSG beat 10-man Barca to reach semi-finals

Borussia Dortmund stormed into the Champions League semi-finals with a rip-roaring 4-2 home win over Atletico Madrid on Tuesday that saw them fight back from a 2-1 defeat in the first leg to win the tie 5-4 on aggregate.

Dortmund down Atletico Madrid in thriller to make Champions League semi-finals

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

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

KUALA LUMPUR (April 16): The Unity Secretariat meeting, held on Tuesday night, discussed preparations to strengthen machinery and the working mechanism of parties within the Unity Government, in preparation for next month’s Kuala Kubu Baharu by-election.

Saifuddin Nasution: Unity Secretariat discussed machinery preps for Kuala Kubu Baharu by-election

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

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;

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

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).

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

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.

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

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;

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

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

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.

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

Iran’s unprecedented attack on Israel and the prospect of escalating hostilities have threatened to embroil Jordan, a key Western ally and a country regarded by Gulf states as pivotal to their own security.

Iran’s growing conflict with Israel puts US ally Jordan on edge

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.

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.

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