Gucci sales tumbled in the first quarter as efforts to revive Kering SA’s biggest brand again failed to yield signs of a turnaround amid a tough period for the luxury-goods industry.

Gucci sales drop as Kering label struggles to revive demand

A longstanding mystery surrounding the wealth of an octogenarian heir to the Hermès luxury fortune just got even murkier.

Hermès heir ‘strongly contests’ lawsuit over US$16b fortune

Hermès’s market capitalisation surpassed that of rival LVMH, the conglomerate which once tried to buy the maker of the coveted Birkin bag in a stealth raid that shocked the French corporate world 15 years ago.

Hermès market value surpasses LVMH, which once tried to buy it 

Sephora chief executive officer Guillaume Motte has taken personal charge of its operations in China, the latest management shift at the LVMH-owned cosmetics retailer as it struggles to win over consumers in the world’s second-largest economy.

LVMH’s Sephora overhauls Asia leadership after setback in China 

L’Oreal SA posted disappointing fourth-quarter sales after demand in the US failed to make up for persistent weakness in China. The company’s shares fell.

Sales overall rose 2.5% on a comparable basis in the period, the French cosmetics company said in a statement. Analysts had expected a 3.8% gain.

L’Oreal sales disappoint on weak Chinese demand

Cosmetics giant L’Oreal SA is selling a €3 billion (US$3.1 billion or RM13.8 billion) stake in Sanofi back to the French drugmaker, cashing in part of its holding after Sanofi’s shares outperformed the market over the past year.

L’Oreal sells €3b of Sanofi stock back to drugmaker

Porsche AG said its profit margin will slip into single digits this year, with the luxury car maker warning about US tariffs and higher costs from weak electric vehicle adoption.

Porsche cuts profit outlook over US tariffs, EV slowdown

SYDNEY/HOUSTON (April 29): Australia's Woodside Energy gave final approval to build a US$17.5 billion (RM75.65 billion) liquefied natural gas (LNG) project in Louisiana, confident a pro-fossil fuel US administration and strong demand will give it competitive returns.

Australia's Woodside approves US$17.5b US LNG project, targets 2029 start

Brokers Digest: Local Equities - Malaysian REITs, Fraser & Neave Holdings Bhd, Gas Malaysia Bhd, Deleum Bhd

KUALA LUMPUR (April 29): Kuala Lumpur’s prime office market continued to improve in the first quarter of 2025 (1Q2025), with prime office rents holding steady at RM6.01 per square foot per month, said global property consultancy Knight Frank.

KL’s prime office market continued to improve in 1Q2025 — Knight Frank

Mudajaya Group Bhd (KL:MUDAJYA) confirmed on Tuesday that its Indian unit and independent power producer, RKM Powergen Ltd, was raided by local authorities in early February this year over an alleged fraudulent acquisition.

Mudajaya confirms Indian unit raided by local authorities over alleged fraudulent acquisition

KUALA LUMPUR (April 29): Malaysia and Japan are exploring broader economic cooperation, including in artificial intelligence (AI) development and the future of the automotive industry, amid ongoing global uncertainties.

Malaysia, Japan exploring broader economic ties, including in AI, automotive — Tengku Zafrul

Sweden-based Volvo Cars launched cost cuts of 18 billion Swedish crowns (US$1.87 billion or RM8.1 billion) on Tuesday as its operating profit fell heavily amid difficult market conditions for the automotive industry.

Volvo Cars to cut costs by US$1.9b as earnings drop

AS gold prices surge nearly 25% year to date, reaching a historic high of US$3,311 per ounce last Wednesday amid global tariff disputes, jewellers are left uncertain about the future but advise caution due to potential volatility.

Jewellers whom The Edge spoke to last week say the high ...

Bullion’s rapid surge turns spotlight on jewellers and pawnbrokers 

Notable filings

During the week of April 7 to 11, notable shareholding changes at Bursa Malaysia-listed companies included those at Eastern & Oriental Bhd (KL:E&O).

According to filings with Bursa, a handful of substantial shareholders, some who...

Insider Moves: Eastern & Oriental Bhd, Awanbiru Technology Bhd, Fast Energy Holdings Bhd, Eco World Development Group Bhd, Alliance Bank Bhd, D&O Green Technologies Bhd

KUALA LUMPUR (April 29): Malaysia’s inflation increased at a slower rate of 1.8% in 2024, versus 2.5% in 2023, with the index points standing at 132.8 in 2024, against 130.4 recorded in the previous year, said the Department of Statistics Malaysia (DOSM).

Malaysia’s inflation rises at slower rate of 1.8% in 2024 — DOSM

Eco-Shop Marketing Bhd has launched Malaysia’s largest IPO in eight months, aiming to raise RM419.87 million from 347 million new shares on Bursa Malaysia’s Main Market.

Eco-Shop launches Malaysia’s largest IPO in eight months at RM1.21 per share

KUALA LUMPUR (April 29): WTEC Group Bhd (KL:WTEC) slipped on its first day of trading on the ACE Market of Bursa Malaysia, amid tepid interest for its shares and broader investor caution.&nbsp;

WTEC Group opens flat, slips below IPO price in ACE Market debut

China’s top diplomat warned countries against caving into US tariff threats, as the Trump administration hints at the possible use of new trade tools to pressure Beijing.

China vows to stand firm, urges nations to resist ‘bully’ Trump

(April 29): A late-day wave of dip buying erased losses in stocks, with Wall Street investors awaiting a slew of corporate earnings and economic data for insights on the impacts of US President Donald Trump’s tariff war.

US stocks rise in final hour of Wall Street trading 

Malaysians are spending more on travel, despite concerns about an economic slowdown, with average spending per traveller increasing 15% to 25% at Matta Fair 2025. This reflects a rebound in travel demand and stronger consumer confidence, according to Mercury Securities.

Malaysians spending more on travel despite concerns of an economic slowdown

(April 29): Oil declined as traders parsed economic data from the US and awaited further developments regarding US President Donald Trump’s trade war, including China’s efforts to support its tariff-hit economy.

Oil slumps on economic data, continued trade war fallout

A top Pakistan defence official warned of the possibility of war with India but said it can be averted, as tensions rise over last week’s militant attacks in the northern region of Kashmir that killed 26 people.

Pakistan minister warns of ‘immediate threat’ of India war

Bursa Malaysia Bhd's (KL:BURSA) stock on Tuesday slipped to its lowest level in three weeks, while analysts slashed earnings estimates after a soft quarter.

Bursa slips to three-week low, analysts slash forecasts after soft 1Q

Stocks ticked sideways on Tuesday while the dollar headed towards its largest monthly fall for years as investors braced for the trade war to be felt in earnings and economic data.

Stocks drift, dollar slips on US-China standoff

WASHINGTON (April 28): US President Donald Trump's administration will move to reduce the impact of his automotive tariffs on Tuesday, by alleviating some duties imposed on foreign parts in domestically manufactured cars and keeping tariffs on cars made abroad from piling on top of other ones, officials said.

Trump to reduce impact of auto tariffs, US Commerce Secretary says

WASHINGTON (April 28): The first 27 satellites for Amazon's Kuiper broadband internet constellation were launched into space from Florida on Monday, kicking off the long-delayed deployment of an internet-from-space network that will rival SpaceX's Starlink.

Amazon launches first Kuiper internet satellites, taking on Starlink

The investigation into corruption allegations involving former prime minister Datuk Seri Ismail Sabri Yaakob has reached 15% to 20% progress, said Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki.

Probe into Ismail Sabri only about 15%-20% complete, says MACC chief 

KUALA LUMPUR (April 29): Nestlé (Malaysia) Bhd (KL:NESTLE) is likely to report softer earnings for the rest of financial year 2025 (FY2025), as rising input costs and softer consumer demand continue to pressure profit margins, analysts said.

Nestlé Malaysia to see softer earnings in FY2025 as higher costs take a bite out of profits — analysts

WASHINGTON (April 28): Chief executive officers&nbsp;and senior executives from Nvidia, Johnson &amp; Johnson, Hyundai Motor, Toyota Motor, and SoftBank Group are among the more than two-dozen business leaders slated to visit the White House on Wednesday for an event highlighting US investments, officials told Reuters.

Trump to tout US investments from Nvidia, J&J, Hyundai, Toyota in Wednesday's White House event

HSBC launched a US$3 billion (RM13 billion) share buyback after reporting a 25% fall in first-quarter profit on Tuesday, and warned of a possible hit to loan demand and credit quality in the face of US President Donald Trump's global trade war.

HSBC launches US$3b buyback after 1Q profit drop, raises tariff alarm

Canada’s Liberal Party is projected to win a fourth consecutive election, giving a mandate to former central banker Mark Carney after a campaign in which he pledged to boost economic growth and stand up to US President Donald Trump in a trade war.

Carney’s Liberals win narrow victory in Canada’s election

The Federal Land Development Authority (Felda) has submitted its group strategic plan and roadmap 2025-2030 to Prime Minister Datuk Seri Anwar Ibrahim, aimed at strengthening its position as a catalyst of the national economy, especially in rural areas.

Felda submits strategic plan, roadmap for 2025-2030 to PM 

China is willing to support normal cooperation between US companies, the country’s Ministry of Commerce said in a statement Tuesday, just days after Chinese airlines rejected taking delivery of any new jets from US planemaker Boeing Co.

China says willing to cooperate with US firms after Boeing spat

US President Donald Trump’s tariffs could push Asian nations closer to China and destabilise regional security, Japan’s ruling party policy chief warned, calling for stronger defence ties between Washington and Tokyo.

Japan worries Trump tariffs will push countries toward China

KUALA LUMPUR (April 29): Crude palm oil (CPO) prices are expected to average at RM4,200 per tonne in 2025, due to a high price premium enjoyed by palm oil over soyabean oil in the first quarter of 2025 (1Q2025), said Kenanga Investment Bank Bhd.&nbsp;

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