Updated version at 7.45 am
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May 5, 2021,
- Asian stocks were set for a volatile open after a selloff in technology shares, amid comments from Treasury Secretary Janet Yellen on interest rates that rattled markets.
- Equinox, the luxury gym operator in talks to go public by merging with a blank-check company backed by investor Chamath Palihapitiya.
- The world’s most powerful economies back plans for vaccine passports in a bid to pull the travel and tourism industry out of a pandemic-fuelled slump.
- Singapore-based Acronis more than doubled its valuation to over US$2.5 billion in a new US$250 million funding round led by private equity firm CVC Capital Partners VII.
- Online-only banks in Hong Kong backed by ZhongAn and Standard Chartered take lead in digital bank race as they garnered 70% of deposits last year.
- Dogecoin was started as a joke in 2013 amid a boom in early cryptocurrencies, surged 30% on Tuesday to set a new record high at more than 50 cents per coin.
- Twitter acquired news technology company Scroll, which it will use as part of an upcoming subscription offering.
- Facebook announced that its Workplace enterprise communications software has now reached 7 million paid subscribers, up 40% from last May’s figure of 5 million.
- Match Group Inc expects second-quarter revenue in the range of $680 million to $690 million, banking on its online dating apps including Tinder and Hinge, as easing pandemic curbs encourage people to socialise.
- SCI Ecommerce, a cross-border e-commerce enabler based in Singapore, has completed a fundraising of more than SGD50 million (US$38 million) in a round led by Asia Partners, plans an IPO in the US at the end of the year with a target market valuation of US$1 billion.