Business and technology quick bites

Updated version at 8.15 am

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

April 12, 2021,

Business News

1. 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.
2. 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.
3. 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.
4. 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.
5. 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.

Technology News

1. 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.
2. 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.
3. Microsoft hunts for large acquisitions to take advantage of antitrust spotlight on rivals.