Business and technology quick bites

Updated version as at 8.30am

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

March 9, 2021,

Business News 

1. Panasonic Corp will buy US software firm Blue Yonder for US$6.45 billion (700 billion yen), reported by Nikkei, saying it was the Japanese electronics firm’s biggest acquisition since 2011. The move comes as the Japanese company aims to expand hardware that combines software, sensors, and other devices to help companies improve operational efficiencies.
2. Norwegian billionaire Kjell Inge Rokke buys US$58 million worth of bitcoin. Rokke’s Aker ASA is establishing a new unit dedicated to investing throughout the Bitcoin ecosystem, announced the company.

3. Gap Inc. said to be weighing sale of China’s business as sales lag. US clothing retailer looks to revamp the operation in the world’s second-largest economy.

4. Hong Kong business tycoon Stanley Choi who bought 332.5 million shares or an 8.96% stake of AirAsia via a private placement last week, said he won’t rule out the possibility of increasing his stake. He is now the third-largest shareholder in AirAsia Group.
5. GameStop stock is flying again, a surge over 40% after Cohen tapped to lead e-commerce pivot.

Technology News

1. Russia accuses Facebook for blocking media posts. Communications watchdog Roskomnadzor at the weekend threatened Facebook with a minimum 1 million rouble ($13,433) fine and demanded it restore access to content posted by TASS news agency, RBC business daily, and Vzglyad newspaper.
2. Zoom Video Communications Inc. founder Eric Yuan transferred roughly 40% of his ownership in the company he runs, a stake valued at about $6 billion after Zoom’s shares more than tripled last year.
3. Two local IT industry associations are calling for greater inclusion to the government’s recently announced move to further encourage the use of cloud computing in Malaysia under the MyDigital initiative.