WASHINGTON: U.S. retail sales unexpectedly fell in May as motor vehicle purchases declined amid rampant shortages, and record high gasoline prices pulled spending away from other goods. Read full story
KUALA LUMPUR: Dynaciate Group Bhd has proposed to acquire a 23,550 sqm freehold industrial land in Bentong, Pahang for RM12mil cash. Read full story
KUALA LUMPUR: Gold jewellery wholesaler and manufacturer, YX Precious Metals Bhd’s (YXPM) public portion of its initial public offering (IPO) has been oversubscribed by 26.36 times. Read full story
KUALA LUMPUR: Cahya Mata Sarawak Bhd (CMSB) has proposed to dispose off the group’s entire 25 per cent interest in ferrosilicon and manganese alloy smelter OM Materials (Sarawak) Sdn Bhd and project management service provider OM Materials (Samalaju) Sdn Bhd for US$120 million (US$1=RM4.42). Read full story
KUALA LUMPUR: Bursa Malaysia Derivatives Bhd has completed the first physical delivery of its East Malaysia crude palm oil futures contract (FEPO), with a total of 10 contracts, representing 250 tonnes of crude palm oil (CPO) transacted at one of the approved port tank installations (PTIs) in Bintulu, Sarawak. Read full story
NEW YORK: The bear market in U.S. stocks could be a prelude to even tougher times to come: a market swoon has often come hand-in-hand with recession. Read full story
BRUSSELS: European Union governments are intensifying pressure on Pfizer PFE.N and other COVID-19 vaccine makers to renegotiate contracts, warning millions of shots that are no longer needed could go to waste, according to EU officials and a document. Read full story
LONDON: Aluminium prices deepened losses on Tuesday as investors worried that renewed lockdowns in top consumer China and a potential global recession could slash demand for metals. Read full story
LONDON: Bitcoin steadied on Tuesday after earlier hitting a new 18-month low, as major crypto lender Celsius Network’s freezing of withdrawals and the prospect of sharp U.S. interest rate rises shook the volatile asset class. Read full story
Australia’s Lynas Rare Earths LYC.AX has signed a US$120 million follow-on contract with the U.S. Department of Defense to build a commercial heavy rare earths separation facility in Texas, the firm said on Tuesday. Read full story
LONDONL With Britain’s currency sinking and the U.S. Federal Reserve poised to raise borrowing costs aggressively, Bank of England policymakers may suddenly feel pressured to announce an outsized interest rate hike of their own this week. Read full story
KUALA LUMPUR: Pharmaniaga Bhd is looking to expand its market presence to the United Kingdom (UK), Turkey as well as the Middle East and North Africa (MENA) in the next two to three years, while also strengthening its presence in Indonesia. Read full story