Business and technology news

Updated version at 10.30 am

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

April 19, 2021,

Business News

1. Japan’s exports posted their strongest growth in more than three years in March, led by a surge in China-bound shipments, in a sign the economic recovery from last year’s deep coronavirus slump remains intact.
2. The mania that drove crypto assets to records as Coinbase Global Inc. went public last week turned on itself on the weekend, sending Bitcoin tumbling the most since February.
3. Deutsche Bank AG is replacing its global pricing engine for emerging-market currencies in London with one in Singapore, drawn by surging trading in Asia and the increasing importance of the Chinese yuan.
4. Wall Street is taking a ‘wait and see’ attitude with the upcoming IBM spin-off. The spin-off will isolate slow-growing segments responsible for the tech giant’s downtrend so that core operations, dubbed NewCo, can concentrate on rapidly-growing cloud and artificial intelligence businesses.
5. Evergrande New Energy Vehicle Group Ltd, China’s US$87 billion EV- giant, hasn’t sold a single car under its own brand.
6. Chinese secondhand electronics trading platform Aihuishou is aiming to raise US$500 million to US$1 billion in a US initial public offering by early June, targeting a valuation of US$4 billion to US$5 billion in the float.

Technology News

1. Audio-chat app Clubhouse new round of financing, would value the company at $4 billion, led by Andrew Chen of venture capital firm Andreessen Horowitz with major investors like DST Global, Tiger Global and Elad Gil.
2. Facebook will announce a series of products under the umbrella of “social audio”, including its take on audio-chat app Clubhouse and a push into podcast discovery and distribution, Recode.
3. Fabian Bigar from the Ministry of Health picked as the CEO of MyDigital, the agency that is tasked with delivering the Malaysia Digital Economy Blueprint (MyDigital) from rhetoric to reality.