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US oil pipeline companies, producers seek relief from steel tariffs

US oil pipeline companies, producers seek relief from steel tariffs

Plains All American Pipeline, Hess Corp, and Kinder Morgan Inc are seeking exemptions from steel-import tariffs. Many oil pipelines in the US will be affected by steel tariffs. (Reuters pic) HOUSTON: Major US energy companies, including Plains All American Pipeline, Hess Corp, and Kinder Morgan Inc, are among many seeking exemptions from steel-import tariffs as the United […]

June 19, 2018 | By | Reply More
Wells Fargo mulls combining wealth management divisions

Wells Fargo mulls combining wealth management divisions

Currently, Wells Fargo’s private client group and wealth brokerage services overlap. Wells Fargo is considering restructuring and possibly combining two of its retail brokerage businesses. (Reuters pic) SAN FRANCISCO: Wells Fargo & Co said on Monday it is considering restructuring and possibly combining two of its retail brokerage businesses, a move to increase efficiency among […]

June 19, 2018 | By | Reply More
US utilities cut to negative in first as Moody’s warns of debt

US utilities cut to negative in first as Moody’s warns of debt

The sector’s consolidated debt-to-equity ratio has hit the highest level since 2008 as companies finance mergers, acquisitions and other investments in renewable energy and pipelines, Moody’s analysts said. (Bloomberg pic) SAN FRANCISCO: For the first time ever, Moody’s Investors Service cut its outlook for US utilities to negative, warning that the sector’s debt levels have reached […]

June 19, 2018 | By | Reply More
Malaysia drops three spots in 2018 World Digital Competitiveness

Malaysia drops three spots in 2018 World Digital Competitiveness

According to the IMD World Digital Ranking 2018 report, Malaysia has dropped three places in its global ranking in digital competitiveness. The USA leads the rankings followed by Singapore, Sweden, Denmark and Switzerland. The IMD report 63 economies. This year the majority of countries in the study experienced an improvement in their level of digital competitiveness. About 40% […]

June 19, 2018 | By | Reply More
China’s Xiaomi cuts valuation after pulling mainland offering

China’s Xiaomi cuts valuation after pulling mainland offering

The delay was triggered by a dispute between the company and regulators over the valuation of its China depositary receipts, casting doubt on Beijing’s efforts to lure foreign-listed Chinese tech giants back home. A “MI” logo stands outside the main entrance of the Xiaomi Corp. headquarters in Beijing, China. (Bloomberg pic) HONG KONG: Chinese smartphone […]

June 19, 2018 | By | Reply More
OPEC faces a bigger problem in Washington than Trump’s tweets

OPEC faces a bigger problem in Washington than Trump’s tweets

OPEC is facing a renewed political assault in Washington, directly from President Trump’s Twitter account, and quietly, but potentially more dangerously, from Congress. Brent crude prices since Trump’s inauguration in January 2017. (Bloomberg pic) VIENNA: American politicians are at it again: punching OPEC. The cartel has often been a bogeyman for US politicians since the […]

June 19, 2018 | By | Reply More
Roche pays US$2.4 billion for rest of cancer expert Foundation Medicine

Roche pays US$2.4 billion for rest of cancer expert Foundation Medicine

It is the latest in a series of acquisitions by Roche as it seeks to tap into promising technology developed by biotech companies to drive future growth as its older drugs face competition. Swiss drugmaker Roche’s logo is seen at their headquarters in Basel, Switzerland. (Reuters pic) ZURICH: Swiss drugmaker Roche is paying US$2.4 billion […]

June 19, 2018 | By | Reply More
Press Metal sees indirect benefits from US-China trade spat

Press Metal sees indirect benefits from US-China trade spat

PETALING JAYA: The trade tensions between China and the US could indirectly benefit aluminium smelter Press Metal Aluminium Holdings Bhd as it will reduce market competition in the region. Speaking to reporters at its AGM today, group CEO Tan Sri Paul Koon said metal from Australia may move to the US as Australia has been […]

June 19, 2018 | By | Reply More
27 global startups at GAP’s second year

27 global startups at GAP’s second year

27 handpicked startups have been selected from a total of 961 applications to participate in the second cohort of the Global Accelerator Progam (GAP) by Malaysian Global Innovation and Creativity Centre, (MAGIC). The program will help equip participants with necessary skills, knowledge, and network to become investment ready in four months and potentially break into […]

June 19, 2018 | By | Reply More
Top Glove Q3 earnings up 51% on record quarterly revenue

Top Glove Q3 earnings up 51% on record quarterly revenue

PETALING JAYA: Top Glove Corp Bhd’s net profit jumped 51.3% to RM117.57 million for the third quarter ended May 31, 2018 against RM77.71 million in the previous corresponding period, underpinned by increased demand for gloves. It also achieved the highest ever quarterly revenue of RM1.1 billion, 26.6% higher than the RM869.64 million made in the […]

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