Latest news with #070
Yahoo
5 days ago
- Business
- Yahoo
Nintendo Switch 2 launch survives Trump tariffs, but holiday prices remain uncertain
NEW YORK, June 6 — Nintendo enthusiasts across the United States are rejoicing as they unbox the newly launched Nintendo Switch 2 consoles, dodging a potential price hike caused by former US President Donald Trump's erratic trade tariff policies. As reported by The Guardian, the console hit shelves yesterday as scheduled, but the journey to its release was fraught with delays and uncertainties stemming from Trump's tariffs on imports. Priced at US$450 (RM2,070) at launch, the Switch 2 was initially threatened by tariffs as high as 46 per cent on imports from Vietnam, where most of its production is based. According to the report this uncertainty forced Nintendo to delay pre-orders initially scheduled for early April, causing widespread frustration among gamers. Pre-orders eventually resumed on April 24, and the console sold out quickly. 'What saved Nintendo in this case was that Trump chickened out,' Robert Johnson, an international economist from the University of Notre Dame, told The Guardian. He referred to Trump's decision to issue a 90-day pause on tariffs to allow for negotiations with affected countries. This window allowed Nintendo to proceed with the console's June 5 release without additional costs being passed on to consumers. However, industry experts told The Guardian that the reprieve might be short-lived. If negotiations fail and the tariffs are reinstated, the Switch 2 could face price increases during the holiday season, a critical period for console sales. 'It takes a long time and significant capital outlays to bring new production facilities online. Producers really like to operate in a stable environment. The current trade environment is the exact opposite of that,' Johnson was quoted as saying. Nintendo's strategic shift to manufacture in Vietnam—a move made during Trump's first term to sidestep earlier tariffs on Chinese imports—has now left it vulnerable to the latest trade policies. Sony and Microsoft, expected to release their next-generation consoles in 2027, are likely to encounter similar challenges. Despite this, Nintendo has managed to ship an estimated 746,000 Switch 2 units to the US ahead of potential tariff hikes, ensuring that these units are exempt from additional import duties. Accessories, however, are not immune. The company has confirmed that certain peripherals will see price adjustments. According to CNBC, docks used for connecting the Switch to a full-size screen now cost US$10 more, while controller straps have seen a US$1 increase. Johnson also speculated to The Guardian that the company may consider raising the console's price later this year if tariffs resume. 'I find it difficult to imagine that the Trump administration will want thousands of stories written during the holiday season about how Trump ruined Christmas,' Johnson said, noting the political ramifications of such a move. As The Guardian highlighted, while hardware costs remain a concern, Nintendo's revenue model relies heavily on software and online subscriptions, which are unaffected by tariffs. 'In the end, Nintendo wants to sell consoles to get people to buy games and accessories,' Johnson said. 'As a result, it may be willing to hold down the price of consoles.'
The Star
5 days ago
- Business
- The Star
Former director charged with improper use of company property
SEREMBAN: A former company director pleaded not guilty in the Sessions Court here on Thursday (June 5) to eight charges of improper use of company property, amounting to RM153,609 between 2019 and 2020. Chin Wei Choong, 42, made the plea after the charges were read out before Judge Mohamad Kamil Nizam. In relation to four of the charges, he was accused as a director of Ambitious Supreme Sdn Bhd of having misused company property, involving RM8,829, RM32,710, RM60,000 and RM7,070, without the consent or ratification of the company's general meeting, thereby indirectly benefiting himself. It was for payments to several companies for work done for Tadika Universal Sdn Bhd, a company with which he had an interest, through Academy Adelphi Worldwide Hotels Sdn Bhd, from Nov 1, 2019, to Jan 10, 2020. He was also charged with four counts of committing a similar offence, involving RM10,000, RM10,000, RM15,000 and RM10,000 involving company property, to indirectly benefit him through a loan made to Tadika Universal Sdn Bhd, in which he has an interest, through Academy Adelphi Worldwide Hotels Sdn Bhd from Aug 6 to Oct 28, 2020. The offences were allegedly committed at a premises in Oakland Commerce Square here. The charges, framed under Section 218(1)(a) of the Companies Act 2016 and punishable under Section 218(2) of the same law, provide imprisonment for up to five years or a fine not exceeding RM3mil or both, if convicted. Chin was allowed bail of RM1,000 for each charge with one surety, and the court set July 31 for mention. Prosecuting officer Muhammad Akmal Azmi, from the Companies Commission of Malaysia (SSM), appeared for the prosecution, while lawyer Tan Zhi Xian represented Chin. – Bernama
The Sun
5 days ago
- Business
- The Sun
Former director charged with improper use of company property
SEREMBAN: A former company director pleaded not guilty in the Sessions Court here today to eight charges of improper use of company property, amounting to RM153,609 between 2019 and 2020. Chin Wei Choong, 42, made the plea after the charges were read out before Judge Mohamad Kamil Nizam. On four of the charges, he was charged as a director of Ambitious Supreme Sdn Bhd, to have used the company property, involving RM8,829; RM32,710; RM60,000; and RM7,070, without the consent or ratification of the company's general meeting to indirectly benefit him. It was for payments to several companies for work done for Tadika Universal Sdn Bhd, a company with which he had an interest, through Academy Adelphi Worldwide Hotels Sdn Bhd, between Nov 1, 2019, and Jan 10, 2020. He was also charged with four counts of committing a similar offence, involving RM10,000; RM10,000; RM15,000; and RM10,000 involving company property, to indirectly benefit him through a loan made to Tadika Universal Sdn Bhd, in which he has an interest, through Academy Adelphi Worldwide Hotels Sdn Bhd between Aug 6 and Oct 28, 2020. The offences were allegedly committed at a premises in Oakland Commerce Square here. The charges, framed under Section 218(1)(a) of the Companies Act 2016 and punishable under Section 218(2) of the same law, provide imprisonment for up to five years or a fine not exceeding RM3 million or both, if convicted. Chin was allowed bail of RM1,000 for each charge with one surety, and the court set July 31 for mention. Prosecuting officer Muhammad Akmal Azmi, from the Companies Commission of Malaysia (SSM), appeared for the prosecution, while lawyer Tan Zhi Xian represented Chin.
Miami Herald
30-05-2025
- Politics
- Miami Herald
What the end of CHNV parole program means for half-a-million migrants, many in Florida
The U.S. Supreme Court has cleared the way for the Trump administration to end a key humanitarian parole program, known as CHNV, that allowed hundreds of thousands of people from Cuba, Haiti, Nicaragua, and Venezuela to legally enter the United States. The decision affects more than half-a-million migrants who had been granted temporary legal status, many of whom live in South Florida. Here's what you need to know about the ruling and its impact. What did the Supreme Court decide? On Friday, the U.S. Supreme Court granted the Trump administration's request to lift a federal judge's injunction that had blocked the government from ending the humanitarian parole program. This clears the way for the administration to revoke the temporary protection and potentially deport the migrants. How many people are affected by this decision? A total of 531,690 people are affected. That includes: 110,240 Cubans211,040 Haitians93,070 Nicaraguans117,330 Venezuelans These individuals entered the U.S. legally through the program since it began in January 2023. What is the timeline for deportation? The Department of Homeland Security will give migrants a 30-day wind-down period starting from the publication of the termination notice, expected next week. However, DHS can begin deportations at any time, even during the 30 days. Migrants are being urged to voluntarily depart the U.S. and report their departure via a mobile app all used by Customs and Border Protection known as CBP Home.. Why is the Trump administration ending the program? The administration argues the program: Did not improve border security pressure on interior to increased immigration backlogs, with 75,000 parolees applying for strain on resources like housing, education, and legal services, especially in states like Florida. Officials also say the program is inconsistent with Trump's foreign policy goals and has outlived its purpose. Who is at immediate risk of deportation? DHS will prioritize deporting individuals who: Have not filed for asylum, adjustment of status, or Temporary Protected Status before the notice is not beneficiaries of an immigration petition filed on their behalf, for example by a relative or an employer. Those who already obtained a. legal immigration status are not required to leave. Can affected migrants still apply for asylum or another status? It's complicated. The administration says applications to adjust status are on hold. Immigration attorneys argue this could contradict existing legal protections for asylum seekers. Regardless, anyone affected should consult an immigration attorney. What happens to migrants with valid work permits? Work authorizations issued under the program will be canceled. DHS says that once the parole is revoked, the legal basis for those permits no longer exists. This means: People will lose legal employment may become undocumented and subject to expedited removal, especially if they live near the border and have been in the U.S. for less than two years. What should migrants do if they cannot safely return to their home countries? The government has not offered a clear answer. However, the Trump administration says it's negotiating with Latin American countries to receive deportees. For example, Panama recently accepted a U.S. military flight with 119 deportees, who were then repatriated to their home countries. Is the government really planning mass deportations? Yes. DHS has stated its intent to promptly deport any migrants who: Do not leave before their parole not have another legal immigration status. What happens to people's property, rent, and investments in the U.S.? The administration acknowledges that many people sold property abroad or invested in homes, cars, and jobs in the U.S. But the official position is that the program was always temporary, and participants knew it could be terminated at any time. Miami Herald staff writers Jacqueline Charles and Syra Ortiz Blanes contributed to this story.
New Straits Times
09-05-2025
- Business
- New Straits Times
Property transactions down 6pct in Q1, value drops 9pct
KUALA LUMPUR: Malaysia's property market slipped in the first quarter of 2025, with transaction volume down 6.2 per cent and value down 8.9 per cent, according to the Valuation and Property Services Department (JPPH). Its director general, Abdul Razak Yusak said the total transactions amounted to 97,772, valued at RM51.42 billion, compared to 104,194 transactions worth RM56.47 billion in the same period of 2024. He said although the property transactions began on a slower note, the pace of construction activity and the increase of residential new launches were supported to balance the property market growth and sustain its positive momentum in 2025. "Construction activity in the first quarter of 2025 showed significant growth, with the number of completed residential units rising by 30.2 per cent to 9,329 compared to the first quarter of 2024. "The number of projects that started construction also increased by 32.5 per cent, reaching 28,344 units from 21,391 the previous year," he said during a presentation on the property market broadcast on Facebook today. The number of new residential launches more than doubled to 12,498 units, up from 5,585 units in the same period of 2024, with a sales performance of 10.8 per cent. Abdul Razak said this encouraging growth indicates a strengthening development trajectory for the residential subsector. Meanwhile, the Malaysian House Price Index in 1Q25 stood at 225.3 points, with an average house price of RM486,070 per unit, reflecting an annual growth rate of 0.9 per cent. "All states witnessed moderate positive growth ranging from 0.3 per cent to 6.9 per cent, except for Sabah and Sarawak, which remained stable, while Kuala Lumpur declined by 2.4 per cent," Abdul Razak said. Commenting on the outlook, he said the property market is expected to maintain its resilience, fueled by strong momentum in the construction sector and a continued increase in newly launched residential units. "Although the property market maintains a positive outlook, industry players and property developers are urged to remain attentive to market dynamics, global economic challenges, and an uncertain external environment. "Special financial and infrastructure incentives under the Johor-Singapore Special Economic Zone, the Special Financial Zone in Forest City, Johor, and ongoing infrastructure development are expected to further stimulate long-term growth in the property market," Abdul Razak said.
