• Markets & World Biz  |  JULY 23, 2014 3:37 PM

    Money-market funds getting new regime; prevents runs

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    US investors are used to treating money-market mutual funds as the equivalent of a checking account. That is about to change for the riskiest of the funds. The Securities and Exchange Commission votes today to adopt new rules that will …

  • World Biz  |  JULY 23, 2014 3:26 PM

    Icahn makes RM742 mil on stake in Herbalife

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    Bill Ackman handed Carl Icahn a big reason to think fondly of the hedge-fund manager, a week after the two staged a public reconciliation over disagreements that stretch back a decade. Icahn, 78, made US$234 million (RM742 million) yesterday on …

  • Markets  |  JULY 23, 2014 3:24 PM

    KL shares higher at mid-afternoon

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    Share prices on Bursa Malaysia were higher at mid-afternoon today amid positive regional sentiment, dealers said.

  • Corporate  |  JULY 23, 2014 3:16 PM

    CIMB plans expansion to Vietnam & Myanmar

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    CIMB Group Holdings Bhd, Malaysia's second-largest lender, plans to seek banking licences in Vietnam and Myanmar as part of its drive to expand in fast-growing Southeast Asian markets.

  • World Biz  |  JULY 23, 2014 3:13 PM

    LinkedIn to buy Bizo for RM555 mil

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    LinkedIn Corp., owner of the largest professional-networking website, agreed to buy business- marketing startup Bizo Inc. for about US$175 million (RM555 million). LinkedIn will pay 10% of the purchase price in stock and the rest in cash, the Mountain View, …

  • Markets  |  JULY 23, 2014 3:08 PM

    India’s Sensex rallies for 7th day

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    India’s benchmark stock index rose for a seventh day, poised for the longest winning streak since September 2012, on better-than-expected company earnings and higher foreign inflows. Bank of Baroda jumped to a two-week high, sending the S&P BSE India Bankex …

  • World Biz  |  JULY 23, 2014 3:01 PM

    Swiss bank EFG sets aside RM13.9 mil for fine

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    EFG International AG, the Swiss bank controlled by billionaire Spiro Latsis and his family, said it set aside 21.4 million Swiss francs (RM13.9 million) to pay a penalty to US authorities probing tax evasion. That amount represents EFG’s “best estimate …

  • Markets & World Biz  |  JULY 23, 2014 2:50 PM

    Chinese stocks in Hong Kong head for highest level this year

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    Chinese stocks rallied, sending a gauge of Hong Kong-traded mainland companies to the highest level this year, on speculation the government is accelerating measures to support the housing market. China Vanke Co., the nation’s biggest developer, climbed 3.7% in Hong …

  • Featured and Exclusive & World Biz  |  JULY 23, 2014 2:49 PM

    Apple reports 3Q profits of RM7.7 billion

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    Apple reported a net profit of US$7.7 billion (RM24.43), or US$1.28 per share, for the Q3 of 2014, the Cupertino, California, company said Tuesday, citing strong iPhone sales.

  • World Biz  |  JULY 23, 2014 2:45 PM

    STMicro posts first profit in 11 quarters on reduced expenses

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    STMicroelectronics NV, Europe’s largest semiconductor maker, reported its first quarterly profit in more than two years after reducing costs and exiting an unprofitable mobile-chip venture. Second-quarter profit was US$38 million(RM120.5 million), compared with a US$152-million loss a year earlier, the …

  • Corporate  |  JULY 23, 2014 2:44 PM

    WCT upgraded to “buy” after RM342 mil Petronas contract

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    BIMB Securities has upgraded WCT Holdings Bhd to a “buy” recommendation based on its new RM342 million contract at the Pengerang project in Johor. The construction company was awarded the contract called Package 20C1 from national oil company Petronas (Petroliam …

  • World Biz  |  JULY 23, 2014 2:36 PM

    Daimler 2nd-quarter earnings rise 12%

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    Daimler AG, the world’s third- largest maker of luxury vehicles, reported a 12% increase in second-quarter profit as deliveries of the top-of-the line Mercedes-Benz S-Class sedan doubled. Earnings before interest and taxes from ongoing business rose to 2.46 billion euros …

  • Corporate  |  JULY 23, 2014 2:29 PM

    Analysts pessimistic on BAT outlook

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    Although most analysts under KiniBiz’s watch said that cigarette manufacturer British American Tobacco (BAT)’s Q2 results were above expectations, they are not optimistic on the outlook for the company and the sector. “The tobacco sector is a sunset industry where …

  • World Biz  |  JULY 23, 2014 2:29 PM

    Toshiba may seek more than RM3 bil in SK Hynix chip suit

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    Toshiba Corp. said it may increase the damages it is seeking from SK Hynix Inc. over claims the South Korean semiconductor maker wrongfully acquired information related to memory chips. Toshiba filed a 109 billion yen (RM3.17 billion) civil suit in …

  • World Biz  |  JULY 23, 2014 2:27 PM

    Alstom to focus on train-making operations

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     SA, the French engineering company which is selling most of its energy-equipment business to General Electric Co to focus on train-making operations, said orders doubled in the fiscal first quarter because of a 4 billion-euro rail contract in South Africa. …

  • World Biz  |  JULY 23, 2014 2:13 PM

    Samsung family struggles to keep grip on company

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    With Samsung Group’s powerful patriarch entering his third month in a South Korean hospital, his family risks losing its grip on the conglomerate he built into a force from smartphones to life insurance. Lee Kun Hee, 72, took over from his father …

  • Commodities  |  JULY 23, 2014 1:15 PM

    KLTM fell US$100 to close at US$22,100 a tonne

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    The Kuala Lumpur Tin Market (KLTM) fell US$100 a tonne to close at US$22,100 a tonne today in tandem with the decline on the London Metal Exchange (LME), a dealer said.

  • Markets  |  JULY 23, 2014 1:02 PM

    KL shares higher at mid-day on positive regional sentiment

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    Share prices on Bursa Malaysia ended the morning session higher today in line with the positive sentiment on regional bourses, dealer said.

  • Corporate & Markets  |  JULY 23, 2014 12:57 PM

    Sasbadi remains higher at mid-morning

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    Bursa Malaysia main market debutante, Sasbadi Holdings Bhd, remained higher at RM1.66 with 37.73 million shares transacted.

  • World Biz  |  JULY 23, 2014 12:52 PM

    Microsoft’s Nokia acquisition weighs on 4th-quarter results

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    Microsoft Corp’s purchase of Nokia Oyj’s mobile business dragged down fiscal fourth-quarter profit, even as the software maker benefits from improving corporate demand for computers and software delivered over the Web. Nokia’s operations, which Microsoft bought for 5.44 billion euros …