Business and technology quick bites

Updated version at 8.47 am

The highlighted words in red are links to the news article.

March 29, 2021,

Business News

1. H&M stores in some parts of China are being closed by their landlords, threatening to disrupt the clothing giant’s growth in its fourth-biggest market as Beijing’s growing sensitivity toward criticism of the human-rights situation in Xinjiang ensnares western companies.
2. Genting Bhd‘s 23.4%-owned associate Cortechs.ai said the company and UK-listed IQ-AI Ltd’s subsidiary Imaging Biometric LLC (IB) have expanded their business development agreement to offer IB’s products on Cortechs.ai’s platform.
3. Australia’s JobKeeper wage subsidy expired Sunday, bringing to a close the nation’s largest Covid stimulus measure. Treasury estimates up to 150,000 jobs could be lost with the end of the program and acknowledges some firms will collapse without government support.
4. Hong Kong is expected to have its own blank check company listing framework ready in June for public feedback and targets allowing deals to start by the end of this year, according to people familiar with the matter.

Technology News 

1. China’s Xiaomi plans to make electric vehicles (EVs) using Great Wall Motor’s factory, said three people with direct knowledge of the matter, making it the latest tech firm to join the smart mobility race.
2. China’s central bank said its planned digital currency will co-exist with technology platforms like Ant Group Co.’s Alipay and Tencent Holdings Ltd.’s WeChat Pay, which currently dominate the online payments markets.