(July 3): Oil prices eased on Thursday, reversing gains from the previous session, on concerns over weak US demand after government data showed a surprise build in inventories in the world's biggest crude consumer.

Oil falls on signs of weak US demand ahead of key jobs report

PUTRAJAYA (July 3): Chief Judge of Malaya (CJM) Tan Sri Hasnah Mohamed Hashim will assume the responsibility as acting chief justice (CJ) until the post has been filled.

Hasnah to assume role of acting chief justice

Italian fashion house Giorgio Armani said on Wednesday its core profit dropped 24% last year hit by declining revenues and a slight increase in operating costs.

Giorgio Armani posts 24% core profit drop in tough 2024, steps up investments

Chinese automaker Changan plans a European factory to support its future sales on the continent and is already weighing up possible locations for the plant, an executive told Reuters on Wednesday.

China's Changan plans European factory, executive says

MORNING CALL: 3/7/25

Michael Gibson, the director of the US Federal Reserve's (Fed) supervision and regulation division, has accepted a voluntary buyout and will retire at the end of this month after 33 years at the central bank, according to an email from Gibson to Fed officials seen by Reuters.

US Fed bank supervision chief takes buyout, email says

Asian shares were poised for a cautious open as investors awaited US jobs data after stocks hit another record following Donald Trump’s announcement of a trade deal with Vietnam.

Asia set for cautious open ahead of US payrolls

Republicans in the House of Representatives on Wednesday struggled to pass President Donald Trump's massive tax-cut and spending bill as a handful of hardliners withheld their support over concerns about its cost.

As lawmakers shuttled in and out of closed-door meetings, House Speaker Mike Johnson said he was trying to convince the holdouts to back Trump's signature bill, telling reporters, "We are planning on a vote today."

House Republicans say they expect to vote on Wednesday night on Trump's tax-cut bill 

Once the darling of Japanese stock investors, department stores have lagged the recent broad market rally and could fall further behind as a strong yen dents tourist spending power. 

Low confidence stemming from economic uncertainty has also crimped tourist budgets with data compiled by the Japan Department Stores Association showing tax-free inbound sales at over 80 department stores across the country fell by 41% in May from a year earlier.

Japan’s department store shares lag as tourist splurge slows

Stocks touched a record high in a sign of firming risk sentiment after President Donald Trump said he reached a trade deal with Vietnam. Asian equity futures were little changed.

An MSCI gauge of global shares set a new peak after the S&P 500 rose 0.5% to a new high on Wednesday.

Stocks touch record as trade deal boosts sentiment

Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday.

Companies in the news: TNB, Gas Malaysia, UEM Edgenta, MSM, GFM Services, PBA, Wawasan Dengkil & Aumas Resources

President Donald Trump said he had reached a trade deal with Vietnam following weeks of intense diplomacy between the nations and ahead of a deadline next week that would have seen higher tariffs imposed on the country’s imports.

Trump announces Vietnam trade deal with 20% import tariff

Facility management firm GFM Services Bhd (KL:GFM) said on Wednesday it is acquiring a 60% stake in oil and gas services provider Shapadu Energy Sdn Bhd for RM30 million, as the group seeks to deepen its footprint in high-value energy-related maintenance services.

GFM to acquire majority stake in Shapadu Energy for RM30 mil to scale up oil and gas segment

A&nbsp;rally in several big techs fuelled gains in stocks, with the market extending its advance as President Donald Trump said he reached a trade deal with Vietnam. Treasuries fell as a sell-off in UK bonds underscored deficit worries. The dollar was steady.

S&P 500 hits record on Vietnam deal as tech climbs

IT products and services company Dataprep Holdings Bhd (KL:DATAPRP) has entered into a deal to acquire intellectual property (IP) rights from China-based Qingdao Xingyun Digital Technology Co Ltd (QXDT) for RM15.5 million.

Dataprep inks intellectual property rights deals for smart city, digital wellness applications

PUTRAJAYA (July 3): Chief Judge of Malaya (CJM) Tan Sri Hasnah Mohamed Hashim will assume the responsibility as acting chief justice (CJ) until the post has been filled.

The Malaysian Anti-Corruption Commission (MACC) in Sabah has arrested a senior manager of a government-linked company (GLC) on suspicion of soliciting and accepting RM16,000 in bribes in return for securing repair works under the GLC.

MACC nabs senior GLC manager in Sabah over alleged bribery

Employment at US companies fell in June for the first time in more than two years, reflecting a drop in services payrolls that may raise concerns about a more pronounced labour market slowdown.

US private payrolls fall for first time in two years

Asian shares were poised for a cautious open as investors awaited US jobs data after stocks hit another record following Donald Trump’s announcement of a trade deal with Vietnam.

In a heartfelt parting message, outgoing Court of Appeal president Tan Sri Abang Iskandar Abang Hashim on Wednesday voiced his hope that the next generation of judges will uphold the rule of law fearlessly.

Retiring Court of Appeal president hopes next generation of judges will uphold rule of law fearlessly

Microsoft will lay off nearly 4% of its workforce, the company said on Wednesday, in the latest job cuts as the tech giant looks to rein in costs amid hefty investments in artificial intelligence infrastructure.

Microsoft to cut about 4% of jobs amid hefty AI bets

Lau Sam Siong has ceased to be a substantial shareholder of recently listed fertiliser maker Cropmate Bhd (KL:CRPMATE).

This follows Lau’s disposal of 21 million shares or a 2.845% stake in the company on July 1 via an off-market transaction, according to Cropmate’s bourse filing.

Lau Sam Siong ceases to be substantial shareholder of Cropmate

Treasuries fell as weaker-than-anticipated US employment data was overpowered by a selloff in the UK government bond market that focused investor attention on deficits in both nations.

US Treasuries extend declines as UK selloff weighs on long end

Italy risks losing €20 billion (US$23.6 billion) in exports and 118,000 jobs next year if the US imposes tariffs of 10% on all European products, the head of the main Italian business lobby said on Wednesday.

Italy could lose €20b in exports, 118,000 jobs with US tariffs, industry head says

Stocks touched a record high in a sign of firming risk sentiment after President Donald Trump said he reached a&nbsp;trade deal&nbsp;with Vietnam. Asian equity futures were little changed.

An MSCI gauge of global shares set a new peak after the S&amp;P 500 rose 0.5% to a new high on Wednesday.

Prime Minister Datuk Seri Anwar Ibrahim, who is on a three-day working visit to Italy, took the opportunity to meet with members of the Muslim community here on Wednesday.

Anwar engages Muslim community in Rome 

Bombardier Inc shares soared to the highest level in over a decade after the Quebec-based private jet-maker announced a US$1.7 billion (RM7.13 billion) aircraft order with an anonymous client.

Bombardier shares hit highest since 2018 on US$1.7 bil airplane order

Ecobuilt Holdings Bhd (KL:ECOHLDS) has decided to call off its proposed rights issue and proceed only with a share capital reduction.

Ecobuilt shelves rights issue, to proceed with capital reduction

Tesla posted another big drop in quarterly deliveries on Wednesday, setting it up for its second straight annual sales decline as demand falters due to backlash over CEO Elon Musk's political stance and an ageing vehicle lineup.

Tesla deliveries slump, Musk's EV maker stares at second year of falling sales

Republicans&nbsp;in the&nbsp;House&nbsp;of Representatives&nbsp;on Wednesday struggled to pass President&nbsp;Donald Trump's massive&nbsp;tax-cut and spending bill&nbsp;as a handful of hardliners withheld their support over concerns about its cost.

As lawmakers shuttled in and out of closed-door meetings,&nbsp;House&nbsp;Speaker Mike Johnson said he was trying to convince the holdouts to back Trump's signature bill, telling reporters, "We are planning on a vote today."

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