Business and technology quick bites: 08.06.2021

Updated version at 8.00 am

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

June 8, 2021,

Business News

1. Asian stocks are poised for a steady open as investors await more clues on the outlook for inflation and central bank stimulus amid the recovery from the pandemic.
2. The US recovered most of the US$4.4 million paid by Colonial Pipeline to Russia-based ransomware extortionists Darkside who had forced the shutdown of a major US fuel network. .
3. China’s sovereign bonds have defied expectations for a selloff all year, but fears grows as liquidity begins to tighten.
4. SoftBank is giving Katerra, the construction startup, one final cash infusion of a $35 million loan to fund its operations in bankruptcy.
5. AMC shares more than doubled on the first two days of a holiday-shortened last week, amid a broader advance in meme stocks and as regulators warned they are monitoring the frenzied trading in the group of shares for any signs of market manipulation.
6. Deutsche Bank warns of a potential crisis coming from rising inflation, the effects could be devastating, particularly for the most vulnerable in society.

Technology News

1. Apple outlines plans to increase user privacy and keep consumer data out of other companies’ hands, laying out features including expanded video conferencing and storing virtual government IDs on iPhones.
2. Digital advertising startup, Minute Media, is working with Goldman Sachs, seeks to be valued at more than $1 billion when it goes public later this year.
3. Amazon’s founder Jeff Bezos will fly on the first crewed space flight from his rocket company Blue Origin next month.
4. Three Chinese banks take the lead to support and intent to integrate the domestically-developed Huawei’s HarmonyOS ecosystem, Global Times reported.
5. Google will make changes to its global advertising business to ensure it does not abuse its dominance, bowing to antitrust pressure for the first time in a landmark settlement with French authorities.
6. Singapore-based fintech start-up, Nium,  backed by state-owned investor Temasek, expands to Europe before pursuing an initial public offering (IPO) in the US.
7. Digital-only neobank Tonik has secured a digital bank license from the Bangko Sentral ng Pilipinas, the first for any private and purely digital bank in the Philippines.