Updated version at 8.30 am
The highlighted words in red are links to the news article.
March 25, 2021,
- Berjaya Corporation Bhd announced that its newly-appointed group chief executive officer (CEO) Abdul Jalil Rasheed has acquired 70 million of its shares at 28 sen per share.
- Fidelity applied to launch an exchange-traded fund to track the performance of bitcoin, the latest move on Wall Street to embrace the digital currency.
- British asset management firm Aviva Investors said it does not want to invest in Deliveroo’s upcoming IPO due to the job insecurity of the meal delivery platform’s riders.
- Oil prices jumped about 6% after a ship ran aground in the Suez Canal, and worries that the incident could tie up crude shipments gave prices a boost after a slide over the last week.
- First-day trading pops, or share price rises, for SPACs were commonplace earlier this year with gains rising to over 30% but have faded in March amid a broader sell-off in many companies that have agreed to go public through a SPAC merger.
- Fanatics, the world’s biggest licensed sports merchandise retailer, raised US$320 million in fresh capital in a funding round that valued the company at US$12.8 billion, according to sources close to the deal.
- The CEOs of Facebook, Google parent Alphabet, and Twitter testify before Congress for the first time since pro-Trump supporters stormed the U.S. Capitol, an attack in which critics say social media played a crucial role.
- TikTok owner ByteDance has hired Xiaomi executive Shou Zi Chew for a newly created role as chief finance officer, in a sign that the tech company is moving towards a much-anticipated initial public offering of one or some of its businesses.
- China’s government has proposed establishing a joint venture with local technology giants that would oversee the lucrative data they collect from hundreds of millions of consumers.
- Indian social networking startup Public App, which allows users to watch video clips of local news based on their location it has raised US$41 million led by Mumbai-based venture capital fund A91 Partners along with its existing investors.