Malaysia to Look Into Claim 1MDB Fugitive Jho Low Is in China
The country has not received information on the whereabouts of Low, better known as Jho Low, Prime Minister Anwar Ibrahim said on Saturday, state news agency Bernama reported. Anwar said he would need to check with the home ministry, which didn't respond to calls early Monday.
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Yahoo
an hour ago
- Yahoo
Trump's trade remarks: 3 takeaways ahead of China negotiations
President Trump says a China trade deal is taking shape ahead of next week's talks in Sweden. Asia Society Policy Institute vice president Wendy Cutler and Yahoo Finance Washington Correspondent Ben Werschkul discuss what the US may be pushing for and how upcoming tariff deadlines could shift. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here. President Trump gave more details Friday about the state of trade negotiations. He said the US is nearing a trade deal with China and offered a range of messages on other nations facing his August 1st deadline. Trump's comments coming as US and Chinese negotiators are set to meet in Sweden next week. Joining us now, Wendy Cutler, vice president of the Asia Society Policy Institute and Yahoo Finance's Washington correspondent Ben Worshko. Um Ben, let's start with you. Give us the latest here on some of these comments that we heard from President Trump today. Yeah. So, this morning as President Trump headed for Scotland, he did about a 30-minute gaggle with reporters talking about a wide array of topics. On the financial side of this, which was one piece of this, there was kind of a mixed bag here for in terms of, in terms of of trade updates. The first one was kind of some tough words about the current talks. Um, he talked about these are the countries facing an August 1st deadline. He described the chances of making an EU a deal with the EU is not certain. At one point he described it as 50/50, at another point he described it a little better than that, but it's clear that there's a ways to go on that front, which is, which is of course, as a block, is America's largest trading partner. He talked, he had some negative words about Canada saying that the outcome with Canada on August 1st could be a tariff and not any more negotiations there. What he previously promised was a 35% tariff on Canada, our northern neighbor. And he also talked about more tariffs, uh, tariff letters coming next week. This is where he basically just dictates rates. I might take that with a grain of salt considering these are the final stages of negotiations and we're seeing a lot of negotiations from both sides including from the EU side about what happens if no deal is there, but some negative words there. Where it was a little more mixed was on China. This is, this is another big focus of trade this week, or next week with Trump's teams set headed to Sweden to meet with Chinese officials. Trump describes that having the confines of a deal, but he didn't have any more details on what that meant. He's previously described a 90-day pause as a deal, quote deal. So it could just be a reference to that, but we'll see if that emerges to anything more there. One area with the China talks that jumped out of me this morning was Trump was asked about currency and had a lot of words there. I wrote about this this week about how the weakening dollar is a real sort of challenge and it is sort of dividing the Trump administration in terms of there's benefits of a weaker dollar for trade, and there's also disadvantages. Trump said that China, all they do is fight for a weaker currency, so that's clearly an issue for him in these China talks. We'll see if that comes up um, more. And then one final positive note from the president this morning was a lot of positive words for Jerome Powell. This came after his his high profile visit to the Fed last uh yesterday. He talked about how Powell's a very good man and even hinted that he thinks, we'll see if this happens, that Powell is going to look towards lowering rates as soon as next week, at least advocating for that if not actually lowering them. Yeah. We'll we'll see about that part. But let's talk more about the potential China deal. Wendy, I want to bring you in on this. What should we be watching for on this China deal? What developments do you think could come next week? So, again, next week is really, in my view, more of the launch of the China negotiations, right? It's taken us two or so months to make sure the deal that was reached in Geneva held up, particularly with respect to critical minerals. So I think when Beths and takes his team over and meets with China, it will all be all about trying to come up with a deal that could be announced during a potential Trump-Xi meeting um, around um, the APEC meeting, come late October. Interesting. What what would you want to see out of that deal, or what would you expect to see out of that deal when it comes that would be sort of most favorable to the US? Well, look, I think the president is going to be pushing for big purchases. We've seen that in other deals that have been announced so far. We've seen that during his first term and so I think that would be a feature that will be worked on. The Secretary of Treasury has also mentioned his concerns about Chinese exports of excess capacity goods. So I think that's another critical area that needs to be addressed. And look, there are a whole host of non-tariff measures, um and tariff measures that also could be on the table as well. Related Videos Trump Is on the Mind of the FOMC, Goldman's Kaplan Says Trump Says Powell May Be Ready to Recommend Lower Rates Trump Puts Odds of EU Trade Deal at 50-50 S&P 500 fresh record high, Trump & Powell, Intel: 3 Things Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
India Trade Pact Nears, US Beef Floods In--What Investors Should Watch Next
Australia may be on the brink of deepening its trade ties with India, according to Trade Minister Don Farrell, who suggested a broader free trade deal could have been inked months ago if not for a timing clash with the May election. Speaking at the Lowy Institute, Farrell hinted that the delay was procedural, not political, and noted that his Indian counterpart is currently focused on high-stakes tariff talks with President Donald Trump's administration. The existing FTAsigned back in April 2022cut tariffs across most sectors, but left out sensitive Australian exports like chickpeas, dairy, and wheat. Farrell expects those gaps could be closed bit by bit, as part of a multi-stage rollout. Warning! GuruFocus has detected 7 Warning Signs with TSN. That optimism is surfacing just as India finalizes a major agreement with the UK and bilateral trade with Australia hits nearly A$50 billion ($32.9 billion) in 2023. Farrell said the structure of a final deal with India is likely to be incremental, owing to political realities on both sides. Still, with Canberra actively seeking to diversify away from Chinaits top trading partnera more comprehensive agreement with India could be a meaningful next step. For investors eyeing agri-exporters, particularly in grains and dairy, the next phase of negotiations could shape longer-term access to one of the world's fastest-growing consumer markets. In a separate move with potential ripple effects, Australia just lifted all remaining restrictions on US beef importsa long-standing ask from the Trump administration. The announcement triggered a celebratory post from President Trump on TruthSocial, but Farrell was quick to tamp down the political narrative, stating the decision was based on science and years of internal review. We haven't done this to win favorwe think the Americans should trade with us anyway, he said. Whether this opens the door to a broader trade pact with the US remains to be seen, but the development is unlikely to go unnoticed by investors in US meat giants like Tyson Foods (NYSE:TSN) or Brazil's JBS, both of which could stand to benefit from expanded market access. This article first appeared on GuruFocus.
News24
2 hours ago
- News24
KZN Jazz Festival corruption case: Supreme Court to give State an ear
The SCA has instructed that the State's application for special leave to appeal the dismissal of the controversial KZN Jazz Festival corruption case be reconsidered. The case involves former ANC provincial deputy chairperson Mike Mabuyakhulu and 15 others, who faced charges related to irregular payments and kickbacks from a failed R28.5 million festival in 2012. In May 2023, Judge Mahendra Chetty found that the State failed in leading evidence of financial transactions. The State then applied for special leave to appeal before the KwaZulu-Natal High Court, but it was dismissed. The Supreme Court of Appeal has ordered that the decision of the KwaZulu-Natal High Court, dismissing the State's application for special leave to appeal the acquittal of prominent politicians and officials implicated in the controversial KZN Jazz Festival corruption case, be referred to it for reconsideration. The case centres on allegations of irregular payments and kickbacks tied to the failed North Sea Jazz Festival of 2012, involving former ANC provincial deputy chairperson Mike Mabuyakhulu and 15 others who were acquitted earlier in 2023 due to insufficient evidence. The State alleged at the time, that service providers were irregularly paid while the politicians and government officials involved received kickbacks. Mabuyakhulu was KwaZulu-Natal's MEC for economic development, tourism and environmental affairs at the time. In May 2023, Judge Mahendra Chetty found that the State failed in leading evidence of financial transactions. The State then applied for special leave to appeal before the KwaZulu-Natal High Court, but it was dismissed. According to the National Prosecuting Authority, the SCA on 11 July 2025 instructed that the matter be reconsidered and that arguments, including on the merits of the case, be heard if required. 'The NPA welcomes the opportunity to argue its case before the SCA that the honourable Judge Mahendra Chetty erred in law in discharging the accused, that there are reasonable prospects of success on appeal, and that there are compelling reasons for the appeal to be heard by the SCA,' said NPA spokesperson Natasha Ramkisson-Kara. 'Prosecutors will continue to vigorously challenge any decision considered to be wrong in law using available legal remedies.'
