Business and technology quick bites

Updated version at 8.15 am

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

April 7, 2021,

Business News

1. The S&P 500 slipped on Tuesday but stayed near closing record highs posted in consecutive sessions, as investors weighed more strong U.S. economic data against nervousness about upcoming quarterly earnings reports.
2. CVC Capital Partners is considering buying a major stake in Japanese conglomerate Toshiba Corp. The Nikkei reported earlier that CVC plans to propose a deal to take Toshiba private through a tender offer that could be worth more than $20 billion.
3. Diagnosticos da America SA, a health-care firm owned by Brazil’s billionaire Bueno family, is poised to raise at least 3.3 billion reais ($590 million) in a share sale to finance a hospital acquisition spree it recently embarked on.
4. The High Court has issued a bankruptcy notice against Najib Razak following a request from the Inland Revenue Board (IRB) over taxes the former prime minister owes to the government.
5. The International Monetary Fund (IMF) maintains its forecast on Malaysia’s gross domestic product (GDP) growth this year at 6.5%, according to its latest World Economic Outlook (WEO) report.

Technology News

1. Britain’s new regulator has been set up to stop big tech giants Facebook and Google  abusing their market dominance after the competition regulator said existing rules were not enough.
2. Cryptocurrency firm Paxos said on Tuesday that it will apply for a formal clearing agency license from the US Securities regulator, following a pilot test in which Credit Suisse and Instinet settled US-listed stock trades on the same day using Paxos’ settlement service.
3. Facebook Inc on Tuesday said a recently reported data leak affecting potentially 530 million users stemmed from a misuse of a feature in 2019 and that the company had plugged the hole after identifying the problem at the time.
4. Singapore-based StashAway on Wednesday announced that it has launched its digital wealth advisory platform in Hong Kong and is licensed by the Securities and Futures Commission.
5. An Indian court on Tuesday said China’s ByteDance must deposit around $11 million that federal authorities believe the company owes in an alleged case of tax evasion.