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Microsoft slashes 4,800 Xbox-related jobs in global cost-cutting drive
WASHINGTON, July 7 — Microsoft said yesterday it was eliminating about 4,800 jobs — roughly two percent of its global workforce — in a cost-cutting move that will deliver a sweeping restructuring of its struggling Xbox gaming division. The cuts
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Ringgit opens slightly higher against US dollar amid focus on Fed outlook
KUALA LUMPUR, July 7 — The ringgit opened slightly higher against the US dollar today amid continued focus on the United States (US) Federal Reserve’s (Fed) interest rate outlook. However, the local note weakened against all major currencies except the
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Samsung expects 1,800pc leap in quarterly operating profit on AI boom
SEOUL, July 7 — South Korean technology giant Samsung Electronics forecast today a roughly 19-fold jump in second-quarter operating profit from a year earlier, buoyed by sustained AI-driven demand for memory chips. The world’s largest memory chipmaker estimated April-June operating profit
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High-quality investments drive Selangor GDP to RM460.1b, says exco
SHAH ALAM, July 6 — The inflow of high-quality investments with strong value chains has been one of the key drivers of Selangor’s economic expansion, enabling the state to record a gross domestic product (GDP) of RM460.1 billion in 2025,
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Porsche could cut up to 4,000 more jobs, report says
STUTTGART, July 6 — Up to 4,000 more jobs could be cut at sports carmaker Porsche following the job cuts already announced, according to the Handelsblatt newspaper on Sunday, reported German Press Agency (dpa). The newspaper said staff in management
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EasyJet accepts fifth takeover bid from US firm Castlelake in £5.2b deal
LONDON, July 6 — British budget airline Easyjet has finally given in to the persistent courting of United States (US) investor Castlelake, when it agreed “in principle” to the firm’s fifth takeover offer, the companies announced in London on Sunday,
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Ringgit steady at open as traders weigh US rate hike outlook
KUALA LUMPUR, July 6 — The ringgit opened mostly flat against the US dollar on Monday as traders reassessed the likelihood of a United States (US) interest rate hike following a weaker-than-expected US nonfarm payrolls (NFP) data. At 8am, the
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Don’t punish compliant Malaysian manufacturers with blanket tariffs, FMM tells US
KUALA LUMPUR, July 5 — The Federation of Malaysian Manufacturing (FMM) has urged the United States (US) to adopt a balanced approach to its proposed Section 301 tariff action on imports linked to forced labour, cautioning that blanket duties could
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Struggling Continental to sell ContiTech in €4b deal as German auto supplier accelerates restructuring
FRANKFURT, July 4 — German auto supplier Continental announced today a €4-billion (RM18.7-billion) deal to sell a division to a US investment group, the latest move in a major restructuring. Continental, which has been struggling amid a crisis in the
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Chinese investors rush to Hong Kong as Beijing tightens overseas stock trading rules
HONG KONG, July 3 — Soon after disembarking at Hong Kong’s train station, Chinese private investor Feng was opening a stock trading account at a nearby brokerage, hoping to evade tighter restrictions on capital leaving the country. Beijing introduced new
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