Wednesday, May 17th, 2017

 

Wall Street skids amid Trump turmoil

NEW YORK, May 17 — US stocks were sharply lower today after reports of a leaked memo by former FBI chief James Comey caused alarm on Capitol Hill, raising questions about whether President Donald Trump tried to interfere with a federal…


Japan, New Zealand to work together to revive TPP

TOKYO, May 17 — Japanese Prime Minister Shinzo Abe and his New Zealand counterpart, Bill English, today said they would work together to bring to fruition the Trans-Pacific Partnership (TPP), even after the United States ditched the free trade…


Ford to cut 1,400 white-collar jobs in North America, Asia

NEW YORK, May 17 — Ford Motor Co said today it plans to cut 1,400 salaried jobs in North America and Asia through voluntary early retirement and other financial incentives as the No. 2 US automaker looks to boost its sagging stock price. Ford…


Ringgit snaps 3-day winning streak to end easier 

KUALA LUMPUR: The ringgit snapped a three-day winning streak to end lower against major currencies today on technical correction and mild profit-taking following its recent gains.

At 6pm, the local note was quoted at 4.3210/3250 against the US dollar from 4.3200/3230 at 6pm Tuesday.

A dealer said the ringgit's decline was also caused by the drop in oil prices today.

“Oil prices fell after industry data showed a surprise increase in US crude inventories despite the extension of the Organisation of the Petroleum Exporting Countries (OPEC)-led output cuts.

“That triggered profit-taking on the ringgit,” he added.

Brent crude was down 15 cents at US$51.50 (RM223) per barrel in late Asia trading while the US light crude slipped 26 cents to US$48.40.

The ringgit was traded broadly lower against a basket of other major currencies.

It fell against the Singapore dollar to 3.0977/1026 from 3.0903/0929 on Tuesday and weakened versus the Japanese yen to 3.8450/8489 from yesterday's 3.8038/8075.

The local unit depreciated against the British pound to 5.5927/5996 from 5.5659/5706 and contracted vis-a-vis the euro to 4.7941/7990 from 4.7706/7756 on Tuesday. — Bernama


Ringgit ends lower, snapping three-day winning streak

KUALA LUMPUR, May 17 — The ringgit snapped a three-day winning streak to end lower against major currencies today on technical correction and mild profit-taking following its recent gains. At 6pm, the local note was quoted at 4.3210/3250…


EU eyeing tourism, education investment in Iskandar Malaysia

JOHOR BAHRU, May 17 — The European Union (EU) is eyeing investment opportunities in the education and tourism sectors of Iskandar Malaysia, said Ambassador and Head of the EU Delegation to Malaysia Maria Castillo Fernandez. She said the EU…


Bursa ends lower on profit-taking, oil prices

KUALA LUMPUR, May 17 — Bursa Malaysia closed in the negative territory today amid     profit-taking activities and floundering crude oil prices, a dealer said.  The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed 2.50 points weaker at…


Tencent reports 58pc jump in Q1 2017 profit

BEIJING, May 17 — Tencent Holdings Ltd, China’s top gaming and social media firm, reported a 58 per cent rise in quarterly profit today, aided by growth in online games, payment-related services and advertising. Net profit attributable to the…


Concerns over Trump dent stocks, US dollar

Concerns over Trump dent stocks, US dollar

LONDON (May 17): Concern that US President Donald Trump’s reform agenda could be slowed down, and that Trump himself could even face the threat of…


UK wage growth falls behind inflation even as jobless rate sinks

LONDON, May 17 — British pay growth lagged inflation for the first time in two-and-a-half years in early 2017, underscoring the growing Brexit squeeze facing many households, official data showed today. Excluding bonuses, earnings rose by 2.1…