Business and technology quick bites: 07.05.2021

Updated version at 7.45 am

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

May 7, 2021,

Business News

1. US stocks closed higher on Thursday, after the Labor Department reported fewer new claims for unemployment benefits last week as the economy bounces back from the Covid-19 pandemic.
2. Billionaire Li Ka-shing’s private investment firm Horizons Ventures Ltd., will make Southeast Asia a priority, seeks to identify young companies that could be the region’s next most popular.
3. Australian regulator moves to block a pricing, code-sharing and scheduling deal between Qantas and Japan Airlines because it would likely mean higher fares for passengers.
4. Singapore Press Holdings which publishes The Business Times, said on Thursday it will be transferring its media business to a not-for-profit entity, amidst the ongoing challenge of falling advertising revenue.
5. Chinese EV maker Nio, backed by tech giant Tencent, said on Thursday that it had launched its first overseas store in Norway and plans to start selling cars in the country as it pushes to expand globally.
6. 2021 is starting to look hopeful as we head towards a global economic recovery, Principal Asset Management Berhad (Principal) believes investors should seize the opportunity to start bargain hunting in the markets for potentially higher long-term returns. Asian equities are a bright spot that investors can explore.

Technology News

1. Twitter introduced Tip Jar, a new feature that makes it easy for users to send money to their favorite creators on the micro-blogging service.
2. IBM introduced what it says is the world’s first 2-nanometre chipmaking technology, which could be as much as 45 per cent faster than the mainstream 7-nanometre chips in many of today’s laptops and phones and up to 75 per cent more power efficient.
3. Rainforest, an e-commerce brand aggregator, has officially announced its launch with a seed financing round of US$36 million, the funds will be used to acquire promising Amazon FBA (Fulfilment by Amazon) brands, invest in technology, and hire top talent to join their Singapore-headquartered and globally distributed team.