Trump cuts continue in the U.S. government

It’s been just over three weeks into the second term of U.S. President Donald Trump, and the flurry of announcements from the White House shows no sign of abating.

The administration is set to pause enforcement of the Foreign Corrupt Practices Act,  President Trump has removed the director of the government ethics office, and (gasp!) even the humble penny is not spared, with Trump ordering a halt to penny production. 

For investors, the dismantling of ethics regulations would definitely raise questions. How would U.S. companies now conduct themselves, especially in markets where corruption is more rampant? Will more brown envelopes be slipped under tables, all in the name of retaining or winning business? Will the rule of law be superseded by the amount of business brought in by a company?

There are no straight answers to these questions, but expect to hear experts and economists’ two cents in the coming days.

Well, at least when the penny is still around. 

— Lim Hui Jie

Altman declines $97.4 billion offer for OpenAI by Musk-led investors
Tesla CEO Elon Musk is leading a group of investors in offering to buy control of OpenAI for $97.4 billion, CNBC confirmed. The offer is for the nonprofit that oversees the artificial intelligence startup behind ChatGPT. However, OpenAI CEO Sam Altman wrote on a post on X, “no thank you but we will buy twitter for $9.74 billion if you want.” Musk then replied to the OpenAI chief on X calling him a “swindler.” 

Asian economies scramble to appease Trump as he ratchets up tariff threats
As the specter of U.S. President Donald Trump’s reciprocal tariffs looms, several Asian economies that enjoy substantial trade surpluses with Washington are scrambling to negotiate favorable solutions with him to avoid being slapped with higher duties. Trump said Friday that he would announce reciprocal tariffs — duties that match those levied on U.S. goods by respective countries — as soon as Tuesday, to take effect immediately. 

Chinese companies are seeing a record rise in dividend payouts
Chinese companies are enticing investors with record dividend payouts and share buybacks amid rigorous corporate governance reform, with some market watchers saying more are on the horizon. Goldman Sachs estimates that Chinese companies’ cash distribution could hit $3.5 trillion this year to notch a new high.

Markets shrug off tariff fears
U.S. stocks rose on Monday, powered by major tech names and as traders looked past the latest U.S. tariff threat from President Donald Trump. The Dow Jones Industrial Average added 0.38%, led by a 4.8% gain in McDonald’s. The S&P 500 gained 0.67%, and the Nasdaq Composite climbed 0.98%. Asia markets were more mixed on Tuesday, with South Korean markets in positive territory and Chinese markets falling.

BYD rolls out driver assistance tech with DeepSeek’s help, shares reach record high
Chinese electric car giant BYD shares hit a record high in Hong Kong trading Tuesday after the company said it was debuting driver assistance technology with the help of DeepSeek. Shares rose more than 4% Tuesday morning to an all-time high of 345 Hong Kong dollars ($44.24), before paring gains. 

[PRO] Traders lower rate cut expectations
Investors are lowering their expectations even further for interest rate cuts out of the Fed this year, as they grow more concerned about tariffs and the effect they could have on inflation. Economists have warned that a wide-scale trade war could significantly raise prices, and consumers appear to be worried as well. 

What the end of the penny means for the economy, your piggy bank, and the way America prices items

President Donald Trump has ordered the Treasury to stop minting new pennies, which could have an impact on prices, cash consumers, and those coins still under your couch cushions.

Experts predict a mild inflationary impact, as more prices are rounded to the nearest five cents. People at the bottom of the economic ladder will probably feel any penny pinch the most, as they are either unbanked or unable to access debit or credit cards or a digital wallet. 

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