Business and technology quick bites

Updated version at 7.45 am

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

March 17, 2021,

Business News 

1. Ex-PNB chief Jalil Rasheed is appointed the ‘first non-member’ CEO of Berjaya Corp, taking over from Robin Tan who has been promoted and redesignated as executive deputy chairman of the conglomerate.
2. China, the world’s largest crude oil importer, is currently buying close to one million barrels a day of sanctioned crude, condensate and fuel oil from the Persian Gulf nation is hurting OPEC to tighten supply in the global market.
3. US retail investors are buying the American depositary receipts of German automaker Volkswagen AG accelerating a rally spurred by VW’s big plans for beating Tesla Inc and becoming the world’s largest maker of electric vehicles.
4. Uber on Tuesday (Mar 16) said it is granting its UK drivers employee status, with benefits including a minimum wage, a world first for the US ride-hailing giant.

Technology

1. Samsung Electronics‘ chip fabrication plant in the US state of Texas will reduce global smartphone production by 5% in Q2 this year. Nikkei Asia said the hit to smartphone production will be equivalent to 17 million handsets, based on separate quarterly forecasts from TrendForce.
2. Ecommerce group Alibaba had its UC Browser pulled from Chinese app stores after it was criticised on Chinese state television’s annual consumer rights show for including medical ads by unqualified companies.
3. PatSnap, a search engine for patents, announced it has secured US$300 million in its latest round of funding.
4. Four more states have joined a lawsuit filed by Texas and others against Alphabet Inc’s Google that accuses it of breaking antitrust laws to boost its already dominant advertising business.