MONEY MASTER

Key Takeaway:  Alibaba is making a renewed bid to expand AliExpress internationally by targeting  Amazon-listed brands  with cheaper shipping and lower fees, hoping to challenge US rivals despite geopolitical headwinds and stiff competition from Temu and Shein. Alibaba Group Holding Ltd.  is stepping up its overseas e-commerce push by trying to lure well-known Amazon sellers to its global shopping site,  AliExpress . The strategy centers on  lower shipping costs and reduced commission fees , which Alibaba claims could cut selling expenses by as much as half compared with Amazon. AliExpress aims to strengthen its foothold in  Europe, Latin America, and the US , offering brands more traffic support and promotional tools. The company is also looking to leverage existing partnerships from its domestic platform,  Tmall , to encourage global expansion. The move underscores Alibaba’s determination to compete on Amazon’s home turf, even after its first US...

Deflationary pressure in China, which has already pushed down prices of cars and fast food, is now reshaping the country’s  US$38 billion medical aesthetics market . So-Young Pushes Prices to Record Lows So-Young International Inc has launched 33 clinics across major cities, offering chemical peels for 149 yuan (US$21) and skin boosters for 399 yuan. The company says there is further room to cut costs, moving closer to South Korea — the benchmark for affordable cosmetic treatments. Average spending per customer at So-Young clinics is about 2,000 yuan, far below the sector average of 6,500 yuan, according to CEO Xing Jin. “As prices approach Korean levels, convenience will keep more consumers at home for treatments,” he said. Rising Competition from E-Commerce Players The push could ignite a broader price war. JD.com Inc has already opened two cosmetic clinics in Beijing, undercutting rivals on certain procedures. Internet platforms such as Meituan and Douyin are also expanding into...

ByteDance, the Chinese tech giant behind TikTok, is launching a new employee share buyback that values the company at over  US$330 billion (RM1.4 trillion) , supported by strong revenue growth. Key Highlights Buyback Price:  US$200.41 per share, up  5.5%  from the US$189.90 offered six months ago (then valuing ByteDance at ~US$315 billion). Timing:  Programme expected to launch in autumn 2025. Revenue Performance: Q2 2025 revenue: ~ US$48 billion , +25% YoY. Q1 2025 revenue: >US$43 billion, topping Meta’s US$42.3 billion for the same period. Business Mix:  Majority of sales from China, while TikTok’s US arm remains under political pressure. Industry Position ByteDance has cemented its status as the  world’s largest social media company by revenue , outpacing Meta. Growth is fueled by  robust ad demand , both domestically and globally. Regular biannual buybacks give employees liquidity without an IPO; unlike peers such as SpaceX and OpenAI, Byte...

Penang’s critical E&E export hub is bracing for turbulence , as a looming  25% US tariff  threatens to shrink air cargo volumes and slow semiconductor trade just as global demand begins to recover. Why It Matters: Penang International Airport, Malaysia’s largest air cargo hub,  handles 70% of the country’s air shipments  — mainly finished and semi-finished semiconductors. With  60% of Malaysia’s exports to the US comprising electrical and electronic (E&E) products , the impact could be widespread. Air cargo volume may shrink by 15%  in 2025 as shipments to the US drop. “When the industry is affected, the volume of cargo handled also drops correspondingly,” —  Ali Ahmad, Penang Freight Forwarders Association What Triggered This? Earlier this month, the US imposed a  25% import tariff on all Malaysian goods , effective  August 1 . While negotiations are underway,  semiconductor-specific tariffs  may still apply separately — cr...

Chinese lenders are aggressively issuing  Tier-2 and perpetual bonds  to secure ultra-low funding rates, with yields hitting their lowest levels  since records began in 2009 . 🔹  Tier-2 Bonds : Avg. coupon at 2.35% 🔹  Perpetual Debt : Avg. coupon at 2.31% “Banks are locking in cheap funding amid a drop in government bond yields. They don’t expect such low yields to sustain,”  said Timothy Tan, Bloomberg Intelligence. Capital bond issuance surged 23% QoQ  to a record ¥638.7B (≈US$89B) in Q2 2025. Context: Relief for banks facing shrinking net interest margins and rising bad loans Consolidation of smaller rural banks continues Commercial banks' capital adequacy ratio stands at 15.28%, down from 15.74% in 2024   Outlook : Bond supply may taper in H2 as Q2 placements front-loaded funding needs.

India is preparing to impose a  temporary tax of up to 25%  on steel imports to counter  cheap Chinese steel flooding the market , according to government and industry sources. Key Developments: Safeguard Duty Proposal A  25% safeguard duty  is under consideration to protect domestic steelmakers. An investigation led by the  Directorate General of Trade Remedies  is expected to conclude within a month, paving the way for the tax implementation. Support for MSMEs Small manufacturers  (MSMEs) initially opposed the proposal but  dropped their objections  after receiving assurances of discounted steel prices. MSMEs  registered with the government will receive steel at  FOB (free on board) export prices , about  20% lower  than market rates. Industry Concerns Major Indian steel producers such as  JSW Steel, Tata Steel, and ArcelorMittal Nippon Steel India  have raised concerns about  unfair competition ...

The  final day of the Dewan Rakyat sitting  will spotlight key topics, including the future of the franchise industry, flood aid for farmers, and the  establishment of the Malaysian Ombudsman . Key Highlights: 1. Franchise Industry Development Young Syefura Othman (PH-Bentong)  will address: Statistics on franchise entrepreneurs  in Malaysia. Malaysia’s role in shaping international franchise regulations as the chair of the  Asia-Pacific Franchise Confederation’s annual meeting . Measures to enhance the  global competitiveness  of the Malaysian franchise industry. 2. Flood Aid for Farmers Datuk Idris Ahmad (PN-Bagan Serai)  will: Query the  minister of agriculture and food security  on ensuring timely and fair aid distribution to farmers affected by floods. Highlight concerns about  leakages and unfair practices  in the aid distribution mechanism. 3. Malaysian Ombudsman Teresa Kok Suh Sim (PH-Seputeh)  will: Seek an u...

Volkswagen CEO Oliver Blume clashed with labour leaders during a heated staff meeting at the company’s Wolfsburg headquarters on Wednesday. The meeting, attended by around 20,000 workers and German Labour Minister Hubertus Heil , highlighted growing tensions over management’s push for cost-cutting measures amid escalating competition, particularly from China. The Dispute Blume called for urgent action to address price pressures and rising competition, emphasizing that plant closures and wage reductions are necessary to secure Volkswagen's future in Germany. "The current situation is serious. New competitors are entering the market with unprecedented force. The price pressure is immense," Blume said, citing challenges in China , the company’s largest and most profitable market, where Volkswagen has recently lost ground. However, union leaders and workers see these proposals as red lines and have threatened further strikes if closures remain part of wage negotiations. Wo...

Intel (INTC.US) is in search of a new CEO to address challenges in both chip design and manufacturing. The successor to outgoing CEO Pat Gelsinger will face the daunting task of deciding whether to continue Gelsinger's vision of turning Intel into a U.S. chip manufacturing powerhouse, rivaling Taiwan Semiconductor Manufacturing Company ( TSMC ), while simultaneously halting market-share erosion. Current Leadership and Interim Arrangements Intel has appointed CFO David Zinsner and Michelle Johnston Holthaus , CEO of Intel Products, as interim leaders. However, industry insiders expect the board to look for external candidates to bring fresh perspectives. Potential Candidates Matt Murphy (CEO, Marvell Technology Group) Known for his leadership in custom chip development. Declined speculation during an earnings call, stating he is "100% focused on Marvell." Johny Srouji (SVP of Hardware Technologies, Apple) Played a key role in Apple's transition to in-house chip des...

Key Takeaway: Northvolt, Europe’s leading EV battery manufacturer, is grappling with production issues, missed targets, and financial strains, underscoring the difficulties of scaling up in the competitive battery market. Production Challenges Missed Targets: Northvolt has been consistently missing weekly production goals for shippable battery cells since September. Internal documents show a target of 51,000 cells per week by the end of 2024, but recent output was around 26,000 cells for the week ending Nov. 10. The original "Path to 100k" roadmap aiming for 100,000 cells per week this year has now been classified as "informal" and is not expected to be met. Operational Issues: Production at one of two manufacturing buildings in Skellefteå was suspended in late October and is expected to remain halted until December. To cut costs, Northvolt has ended 24/7 production cycles , now operating only on weekdays. Key Obstacles: Faulty machinery, inexperienced staff, ...

 Allianz SE is reportedly exploring potential partnerships and tie-ups for its asset management division, Allianz Global Investors (Allianz GI) , as part of efforts to expand its asset management business, according to a source familiar with the matter. These early discussions do not include plans for a full or majority sale, but could involve a merger or partial sale , with Allianz possibly relinquishing control in such a deal, as per Reuters . While Allianz GI is focused on active asset management with €555 billion in assets under management as of the second quarter, the global asset management industry is increasingly shifting towards passive products and lower-cost offerings , leading to significant consolidation in the sector. Examples include BNP Paribas' purchase of Axa SA's asset management unit and Goldman Sachs' acquisition of NN Group's asset management arm. Allianz is scheduled to release its third-quarter results on Nov. 13 , following stronger-...

Charles Schwab Corp.'s shares surged after reporting stronger-than-expected third-quarter earnings , signaling that the firm is moving past a challenging 2023. Adjusted earnings per share for the quarter reached 77 cents , surpassing analysts' estimates, while adjusted net income totaled $1.5 billion , a slight increase from the previous year. One of the key highlights was Schwab's success in reducing its costly bank supplemental funding by $8.9 billion , thanks to a $9.2 billion rise in client transactional cash sweep balances. This marks a significant step in Schwab's recovery after last year’s interest rate hikes prompted customers to move their deposits in search of better returns, forcing the firm to rely on more expensive funding sources. Schwab's stock jumped 7.45% following the news, signaling investor confidence in the firm's turnaround efforts. Outgoing CEO Walt Bettinger referred to the results as an "inflection point" for Schwab, alt...

Bank of America Corp. exceeded earnings expectations in the third quarter, bolstered by strong performances in equity and fixed-income trading , as well as a better-than-anticipated showing in investment banking . Revenue from equity, fixed income, currencies, and commodities (FICC) trading surged 12% to $4.93 billion , and investment banking revenue climbed 15% , reflecting the long-awaited resurgence in dealmaking . Net interest income (NII) , a key metric for the bank, dipped 2.9% to nearly $14 billion , outperforming analysts' expectations of a 3.4% decline . Despite the drop, Bank of America remains optimistic, with the company forecasting an increase in NII to $14.3 billion or more in the fourth quarter. The bank's loan balances rose to $1.08 trillion , slightly ahead of estimates, signaling resilience amid high interest rates . Non-interest expenses increased by 4% , reflecting investments in personnel and technology. Overall, net income for the quarter was $6.9 bi...

Goldman Sachs Group Inc. reported a 45% jump in third-quarter profits, driven by a strong performance in its equity-trading unit and a recovery in its investment-banking business . The firm's stock traders delivered their best quarter in over three years, with Goldman on track for a record year in stock trading. This surge helped offset declines in the bank's fixed-income trading . Goldman’s third-quarter revenue rose 7% to $12.7 billion , while net income climbed to $2.99 billion , or $8.40 per share . Despite the positive results, CEO David Solomon expressed concerns about new capital rules for banks, warning that such regulations could slow economic growth by increasing the cost of credit. Goldman’s shares, which initially rose as much as 3.4% , later fell by 1% in New York. Despite this, the stock has gained 34% this year, outperforming other major U.S. banks and reaching an all-time high. The firm’s investment-banking revenue of $1.87 billion exceeded analysts’...

Since the pandemic, Dubai has experienced a population surge, attracting around 400,000 new residents as expatriates flood in for high-paying jobs in the Middle Eastern business hub. The city’s population has now reached 3.8 million and is projected to hit 5.8 million by 2040 , drawing comparisons to global financial centers like Singapore. While this influx has bolstered Dubai’s economy and contributed to the emirate’s position as one of the top-performing markets globally, it has also exposed the limitations of its infrastructure . The arrival of wealthy expats, such as traders, lawyers, and bankers, has pushed up property prices and rents , with home values rising for 16 consecutive quarters. Rents for single-family villas have soared by 86% since the pandemic began, and competition for school admissions has intensified. Although Dubai’s public transport remains relatively limited, and roads are frequently congested, it still performs better than cities like London or New Yo...

  Tesla Inc. is confronting a significant escalation in industrial action in Sweden, as the Vision trade union has announced its support for the nearly year-long strike by workshop staff. Upcoming Challenges for Tesla's Charging Network Starting from October 10 , Tesla will face operational hurdles in servicing its charging network across Sweden, the largest Nordic country, as Vision's members employed by municipal energy companies will cease all service, repair, and maintenance tasks at Tesla’s EV charging stations. This decision was detailed in a statement on the trade union’s website. Background of the Strike The strike originated from IF Metall , one of Scandinavia's largest blue-collar labor unions, when technicians at 10 of Tesla's Swedish repair shops walked out on October 27, 2023 . The protest was triggered by the company's refusal to sign a collective agreement, a standard written contract in Sweden that outlines key employment terms such as wages, workin...