Updated version at 8.15 am
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April 12, 2021,
- Wall Street ended lower on Monday, with investors waiting for cues from the upcoming corporate earnings season and a key inflation report later this week.
- U.S. regulators are throwing another wrench into Wall Street’s SPAC machine by cracking down on how accounting rules apply to a key element of blank-check companies.
- BlackRock and Singapore’s Temasek Holdings, two of the world’s most powerful money managers are joining forces to raise a US$1 billion first fund, to build a business on climate change investing and raise one of the largest venture-capital funds for carbon-cutting startups.
- Vingroup JSC, Vietnam’s largest conglomerate, is considering an US initial public offering (IPO) of its car unit that could value VinFast at about US$60 billion, two people familiar with the matter said on Monday.
- Jack Ma, the founder of the e-commerce giant, fortune increased by $2.3 billion to $52.1 billion, after a record antitrust fine on Alibaba Group, according to the Bloomberg Billionaires Index.
- Intel on Monday said it is supplying self-driving systems to Silicon Valley startup Udelv, which plans to have a fleet of autonomous delivery vehicles in action within two years.
- New York-based UiPath, the latest tech firm seeking to tap into the red-hot US IPO market, is targeting a valuation of nearly US$26 billion in its US initial public offering (IPO), as demand soars for its robotic process automation services from companies shifting to remote working during the Covid-19 pandemic.
- Microsoft hunts for large acquisitions to take advantage of antitrust spotlight on rivals.