Business and technology quick bites

Updated version at 2.48 pm

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

March 18, 2021,

Business News 

1. No dotty moves from the Fed. The FOMC held to its previous guidance of no imminent rate hikes or tapering while reiterating its views on supporting the economy to help rebuild employment.
2. US stocks rejoiced at a dovish Fed day that signaled easy-money is here to stay and that the policymakers are still not anywhere close to talking about tapering.
3. Markets welcome US Fed decision. With Bond and FX market bears getting dished out a sliver of humble pie, investors are taking solace that US Federal Chair Powell delivered a strong and convincing performance here.
4. Norway’s wealth fund, the world’s largest sovereign wealth fund has investments in 146 Malaysia-listed companies, including Genting Malaysia Bhd, MR DIY Group (M) Bhd, and Top Glove Corp Bhd.
5. Fed Chair Jerome Powell sees a greater likelihood the strong U.S. rebound from the coronavirus pandemic will help jump-start those still struggling to find their footing, such as Europe, rather than those weak showings overseas impeding the domestic recovery.
6. Cycle & Carriage Bintang Bhd’s (CCB) largest shareholder Jardine Cycle & Carriage Ltd (Jardine CCL) has made a fresh bid to privatise the country’s largest dealer of Mercedes-Benz at RM2.40 per share.
7. Chinese logistic startup Duckbill has received US$50 million in investment led by Singapore state-backed investment firm Temasek Holdings.
8. Malaysia’s high court granted a restraining order for three months on 15 of AirAsia X‘s creditors over the debt recast talks for the airline.

Technology News 

1. Apple was given a boost as France’s antitrust watchdog rejected advertisers’ requests to suspend the iPhone maker’s upcoming privacy feature, but it still faces a probe into whether it unfairly favours its own products and services.
2. Chinese search engine Baidu Inc raised HK$23.9 billion (US$3.1 billion) in its Hong Kong share sale, sealing the latest in a string of blockbuster equity offerings in the financial hub.
3. Apple Inc. plans to announce new iPads as early as April, adding to a product line that has performed particularly well as people work and study from home, according to people with knowledge of the matter.
4. The co-founder of Spotify is placing some of his estimated US$6.1 billion fortune into a new investment firm that plans to cash in on MiFID Blind Spot.