Daily business and technology news:
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September 10, 2021 (last updated at 8.40 am)
- Market news: Asian stocks look set for a steady open after wall street shares end lower against uncertainty over US monetary policy and President Joe Biden’s infrastructure package.
- The US is the world’s largest donor of Covid-19 vaccines, way ahead of China and Japan, according to data compiled by UNICEF.
- Ford to exit car manufacturing in India after failing to find a “sustainable path” forward, a blow to Prime Minister Narendra Modi’s efforts to urge foreign businesses to manufacture locally.
- Wells Fargo hit with US$250 million fine by Office of the Comptroller of the Currency (OCC) over remediation shortcomings.
- Nasdaq data to aid blockchain-based tokenized stock trading.
- Shell, the largest oil producer in the U.S. Gulf of Mexico, cancels export oil cargoes seeks alternatives.
- UK’s EasyJet rejects takeover offer, to raise £1.2 billion from shareholders to fund its pandemic recovery and expand operations instead.
- Tencent and Netease lose more than US$60 billion of value as investor fears grow over China crackdown expands on the world’s largest gaming industry.
- Google aims to replenish 20% more water than its offices and data centers use by 2030.
- Logitech plans to achieve net-zero emissions by 2030 and be “climate positive” says CEO Bracken Darrell.
- Facebook Chief Operating Officer Sheryl Sandberg says small businesses online revolution will continue even after the pandemic subsides.
- Singapore-headquartered tech startup Advance.AI raises about US$200 million in a funding round from Warburg Pincus-led investors.
- Cyber security software startup Snyk raises US$300 million in fresh funds led by Tiger Global, valuing the company at US$8.5 billion.
- Singapore-based ecommerce and gaming firm Sea to raise US$6.3 billion in Southeast Asia’s largest ever fund raising to accelerate global expansion beyond its home turf.
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