Business and technology quick bites: 04.06.2021

Updated version at 8.25 am

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

June 4, 2021,

Business News

1. Asian stocks set for a weaker open after U.S. equities sagged amid robust economic data that stoked concerns about a pullback in central bank stimulus.
2. Retail investors in India and South Korea join the meme-stock frenzy by piling into AMC Entertainment through local trading platforms giving them access to U.S. markets.
3. Biden orders bans to US entities from investing in dozens of Chinese companies with alleged ties to defense or surveillance technology sectors.
4. Crypto conviction is falling after new regulatory hurdles in China and the US, and support from Musk has wavered.
5. Ackman’s SPAC is nearing a deal with Universal Music that would value the combined entity at nearly $40 billion.
6. Banks in Hong Kong are stepping up hiring, a sign the city’s unique position as a financial gateway to China is outweighing concerns about Beijing’s tightening grip over it.
7. Germany to pump in S$483 million to keep Asian-owned shipbuilder afloat, the shipbuilding subsidiary of Asian tourism and casino giant Genting.
8. Malaysia is top choice on expansion opportunities for 65% of Chinese companies looking to scale up their sales and production operations in Asean, according to Standard Chartered’s survey.
9. China gives nod to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.

Technology News

1. Google Android mobile software users can opt out of being tracked by advertisers on their smartphone applications, following a move by rival Apple.
2. China’s memory chip makers are pushing into the lower-end of the market with the global chip shortage  expected to last till 2022.
3. Good Startup, a cross-border VC firm seeking to remove animals from the global food ecosystem, has launched a US$25-million fund to invest in alternative protein startups.
4. Singapore-headquartered iGlobe Partners closes its third fund at US$100 million to back startups building solutions in smart cities, synthetic biology, and fintech.