Business and technology quick bites: 10.05.2021

Updated version at 8.00 am

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

May 10, 2021,

Business News

1. Australia to tap on US Treasury Secretary Janet Yellen’s playbook in deploying spending to push the economy toward maximum employment, a stance that keeps policy aligned with the Reserve Bank.
2. US futures up and Asian stocks were set for a steady start after the S&P 500 hit a record on weak jobs data that added to the case for ongoing stimulus. Gasoline and oil rose after a pipeline was closed.
3. Newly public names like Airbnb, Roblox and Bumble will be reporting earnings this week, while the Commerce Department’s retail sales report is also set for release, offering another update on the strength of consumer spending during the economic recovery. What to know this week.
4. A China-focused hedge fund led by a 30-year-old who started trading as a teenager returned 120% in the first quarter, thanks to the collapse of  Bill Hwang’s Archegos Capital Management.
5. Dogecoin tumbles more than a third of its price on Sunday (May 9) after Tesla chief and cryptocurrency supporter Elon Musk called it a ‘hustle’ on Saturday Night Live show.

Technology News

1. Clubhouse launches its Android app and will be available in beta on Google’s mobile OS in the US, allowing users to sign up and participate in its audio-only chat rooms, in a potentially big expansion of its market.
2. Malaysian online B2B wholesale procurement startup Lapasar, has raised RM7.5 million (US$1.8 million) in a funding round led by startup accelerator-cum-investment firm NEXEA and shopper360 limited.
3. Bonza, an Indonesian Big Data analytics startup, has secured US$2 million in a funding round led by early-stage VC firm East Ventures. The newly raised capital to accelerate its vision to become a leading data platform company in Southeast Asia and to further develop its platform offerings.