US Treasury chief may visit China as trade tensions simmer
WASHINGTON: U.S. Treasury Secretary Steven Mnuchin said on Saturday he may travel to China, a move that could ease tensions between the world's two largest economies, as international policymakers acknowledged Beijing needs to change its trade practices.
KUALA LUMPUR (May 22): Hengyuan Refining Co Bhd shares fell 10.62% this morning after its net profit fall 68.94% to RM86.81 million in the first quarter ended March 31, 2018 from RM279.49 million a year ago as margins fell due to a lower crack spread for motor gas.
At 9.13am, Hengyuan lost 88 sen to RM7.41 with 960,400 shares done.
The decline in the crack spread, which measures the pricing difference between a barrel of crude oil and the petroleum products refined from it, occurred amidst increasing crude prices and high inventory in the region, the refiner noted.
Former MGM Holdings Inc Chief Executive Officer Gary Barber, who was ousted earlier this year, is speaking to investment banks about financing an offer to acquire the privately held U.S. movie studio, five people familiar with the matter said on Monday.