AP Top Business News at 9:48 p.m. EDT
The FAA investigates after Boeing says workers in South Carolina falsified 787 inspection records
Latest stories
Malay MailPuspakom outlines new e-invoicing, tax identification number requirements; TIN implementation to start today
• Individuals and private customers do not require a TIN for Puspakom booking • NRIC is sufficient for booki...
- Malay Mail
Why bank workers say they’ll hold their ground, as picket against bosses to continue
KUALA LUMPUR, July 26 — Bank workers continued their five-day nationwide picket today amid claims employers have refused...
- Reuters
Apple's China smartphone shipments drop 6.7% as Huawei surges, data shows
BEIJING (Reuters) -Apple's smartphone shipments in China fell by 6.7% in the second quarter of 2024, as the tech giant faced intensifying competition from rivals like Huawei, according to data from market research firm Canalys. Apple's total shipments for the quarter ending in June stood at 9.7 million units, down from 10.4 million units in the same quarter last year, Canalys data shows. In contrast, Huawei's smartphone shipments surged 41% year-on-year to 10.6 milion in the quarter, bolstered by the launch of its new Pura 70 series in April.
- Deadline
Gina Carano Beats Disney’s Move To Kill ‘Mandalorian’ Firing Suit; Trial Looms
“Unless you want to go another round, one of us is going to have to leave, and I was here first,” Gina Carano’s former Rebel shock trooper Cara Dune says in Season 1 of Disney+’s The Mandalorian. Those scripted words from the ex-MMA fighter have an added resonance today, as Disney failed to get Carano’s …
- Malay Mail
Businesses express optimism about Johor-Singapore SEZ amid political stability, but brain drain remains a concern
KUALA LUMPUR, July 26 — Singaporean manufacturing firm Racer Technology has operated in Johor Baru for nearly 20 years....
- Reuters
Chinese firms seek to cut stakes in new Indonesian nickel smelters
Chinese companies are in talks with potential investors to reduce their stakes in Indonesian nickel smelters amid efforts to make their products eligible for U.S. electric vehicle tax credits, an Indonesian official said on Friday. Under the U.S. Inflation Reduction Act, to be eligible for an electric vehicle (EV) tax cut, materials for an EV or batteries must be supplied by firms with not more than 25% ownership by a "foreign entity of concern", which applies to companies from China, Russia, North Korea and Iran. Indonesia, the world's biggest producer of nickel, has been negotiating a critical mineral deal with Washington so that its nickel can be included in the supply chain recognised by the IRA.
- AFP News
TSMC leads chipmaker plunge as trade resumes after typhoon pause
Taiwanese giant TSMC tumbled with several other leading chip makers Friday as traders returned from a typhoon-imposed two-day break to play catch-up with a global tech rout.The rally in all things tech helped TSMC, which is also listed in New York, to briefly break the US$1 trillion market capitalisation barrier this month, putting it ahead of Tesla as the seventh most valuable technology firm.
- Associated Press
Automakers hit 'significant storm,' as buyers reject lofty prices at time of huge capital outlays
Investors are punishing automakers' stocks this week after second-quarter earnings reports exposed industrywide issues of slowing sales and high prices, just as the companies are having to spend huge sums to make new electric and gas vehicles. Ford Motor Co., which reported a drop in second-quarter earnings due electric-vehicle losses and persistently high warranty costs, led the declines. Carlos Tavares, CEO of Jeep and Ram maker Stellantis, said a significant auto-industry storm he's been warning about for several years has arrived.
- Reuters
Toyota to build EV battery plant for Lexus cars, Nikkei reports
TOKYO (Reuters) -Japan's Toyota Motor plans to build a battery plant for electric vehicles in the southwestern prefecture of Fukuoka and supply its batteries to a factory that makes luxury Lexus brand cars, the Nikkei business daily reported on Friday. The world's top-selling automaker would seek to make the island of Kyushu where Fukuoka is located a central part of its supply chain for battery-powered vehicles and an export base for Asia, the newspaper said. A Toyota spokesperson said the company was aware of the report, but that it was not something it had announced.
- Zacks
Altria (MO) Hits 52-Week High: Time to Cash In or Hold Steady?
Altria's (MO) strategic moves into smoke-free products offer growth potential, though the declining cigarette business raises concerns.
- Associated Press
Judge in Trump's civil fraud case says he won't recuse himself over 'nothingburger' encounter
The New York judge who ordered Donald Trump to pay a nearly $500 million civil fraud judgment said Thursday he won’t step aside from the case, rebuffing concerns that the verdict was influenced by a brief conversation he had with another lawyer as a “nothingburger.” Judge Arthur Engoron’s eight-page order came in response to Trump’s attorneys' request that he recuse himself based on a claim by real estate attorney Adam Leitman Bailey that the two had discussed the state law at the heart of the case prior to the verdict. Bailey claimed in an interview published by NBC New York in May that he’d discussed the case with Engoron shortly before the verdict was issued and given him his take on a relevant portion of the law.
- Reuters
The lower the AI exposure, the bigger the problem for Europe's chip firms
Shares in European semiconductor firms less exposed to AI chips slumped on Thursday as falling demand from their key automotive and industrial clients hit business prospects, on top of a wider sector correction. Chip component suppliers like ASML and ASM International are more exposed to the booming AI chip market and demand from high-end tech clients like Nvidia, TSMC, and Intel. "The more high-end applications, linked to AI, those are doing much better," said ING analyst Marc Hesselink.
- AFP News
Nissan shares plunge after profit warning
Nissan tumbled more than 10 percent on Thursday after the Japanese automaker issued a profit warning, citing "intense sales competition", especially in the United States.Although global sales remained even, "profit was impacted by increased sales incentives and marketing expenses to meet intense sales competition and optimise inventory," particularly in the United States, Nissan said.
- PA Media: UK News
Car production down 7.6% in first half of year as manufacturers switch to EVs
The Society of Motor Manufacturers and Traders said the decline was ‘expected’ due to car makers overhauling lines to make electric vehicles.
- The Daily Beast
FBI Is Not Fully Convinced Trump Was Struck by a Bullet
FBI Director Christopher Wray revealed during a marathon testimony on Wednesday that investigators still do not know if former President Donald Trump was grazed by a bullet or a piece of shrapnel during his attempted assassination.Twice during the hours-long session, Wray told lawmakers that the FBI was still working to determine what exactly struck the former president on his right ear during a rally in Butler, Pennsylvania. “My understanding is that either it [a bullet] or some shrapnel is wha
- People
“Crazy Rich Asians” Director Jon M. Chu Reveals One Demand Star Michelle Yeoh Made — and His Dad Agreed!
The director also says Yeoh was the only actress considered for the role
- Malay Mail
Going for gold: Malaysian squad to wear elegant Rizman Ruzaini-designed official attire inspired by warriors for Paris 2024 opening
KUALA LUMPUR, July 25 — Youth and Sports Minister Hannah Yeoh today revealed the set of gold-coloured official attire of...
- Malay Mail
Celine Dion reportedly paid US$2m for duet with Lady Gaga at Paris Olympics 2024 opening ceremony
PETALING JAYA, July 25 — Canadian singer Celine Dion is gearing up for a triumphant comeback at the opening ceremony of...
- InStyle
Selena Gomez's Super High-Cut Plunging Yellow Swimsuit Is an Instant Serotonin Boost
The actress was a ray of light in a new photo with her boyfriend, Benny Blanco.
- Malay Mail
It takes just 30 seconds to steal a car and thieves are targeting Toyotas, say Johor cops (VIDEO)
JOHOR BARU, July 25 — Gone in 30 seconds, that is the amount of time needed for a car theft syndicate to steal a luxury...