Business and technology quick bites: 09.06.2021

Updated version at 8.10 am

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

June 9, 2021,

Business News

1. Asian stocks set for a mixed open as US equities tread water near a record ahead of key inflation data and the 10-year UST yield fell to a one-month low.
2. US job openings rose to a fresh record high of 9.3 million emphasised by fervent labour demand and turnover as businesses emerge from pandemic-related restrictions and the economy strengthens.
3. Robinhood Markets is now looking to go public in July, after its plans for a listing as soon as this month slipped, according to people familiar with the matter.
4. Serial dealmaker Palihapitiya’s $16 million investment in the special purpose acquisition company (SPAC) that took Clover Health public is worth $682 million after a Reddit-fueled rally in the health insurer’s shares.
5. MicroStrategy, a major bitcoin corporate backer, said it was offering $500 million in bonds and the proceeds will be used to buy bitcoins.
6. Berjaya Corporation divests its 51% stake in Berjaya Auto to Bermaz Auto, comprising of 6.12 million ordinary shares, for RM6.67 million.
7. Bridgetown 2 Holdings, the blank-cheque company backed by billionaires Richard Li and Peter Thiel, is in advanced talks to merge with Singapore’s online real estate firm PropertyGuru, a transaction could value the combined firm at as much as US$2 billion.
8. Details claiming to reveal how little income tax US billionaires pay have been leaked to a news website, alleges Amazon Bezos paid no tax in 2007 and 2011, while Tesla Musk paid nothing in 2018.
9. In Malaysia, the sales tax exemption is a timely move, as it will help boost sales of local car manufacturers, and absorb the impact of the multiple lockdowns imposed this year.

Technology News

1. Google has bowed to pressure from rivals and will let them compete for free to be the default search engines on Android devices in Europe, widening a pledge to EU antitrust regulators two years ago.
2. Apple is in early-stage talks with China about the supply of batteries for its planned electric vehicle.
3. Apple doubles down on privacy in new iPhone operating software, iOS 15, however, the feature will not be available to users in China, one of its most important markets, due to regulatory reasons.
4. Lordstown Motors, an electric-vehicle startup that recently went public, may not have enough cash to get its debut pickup truck to market and might not survive the next 12 months if it can’t raise more more capital.
5. Nvidia asks Chinese regulators to review a US$40 billion takeover of UK chip designer Arm, the Financial Times reported.
6. Public enthusiasm for technology has seen e-bikes sales boom despite high prices and confusing regulations.