Business and technology quick bites

Updated version at 8.41 am

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

March 24, 2021,

Business News

1. Coffee supplies in the U.S. are shrinking and wholesale prices are surging, with the hard-hit market bracing for further fallout from a global shortage of shipping containers that’s upended the food trade.
2. Southeast Asian countries lose out on as much as US$6 billion a year as most of their single-use plastics are thrown out rather than recovered and recycled, the World Bank said in a new study.
3. GameStop said it may sell new shares this year to take advantage of a more than 800% run-up since January in the stock price of the US video game retailer at the centre of the Reddit rally of “meme stocks”.
4. JD.com will invest US$800 million in Dada Nexus, the operator of rapid delivery service JD Daojia, in the latest move by the Chinese e-commerce giant to establish a stronghold in the burgeoning community group buying sector ahead of a public listing of its JD Logistics unit in Hong Kong.

Technology News 

1. Robinhood Markets Inc. said it filed confidentially for an initial public offering, in what will be a highly anticipated listing among investors — including the trading app’s own customers.
2. Telegram has raised over US$1 billion through bond sales to multiple investors, the messaging app’s founder Pavel Durov.
3. Intel Corp. unveiled an ambitious bid to regain its manufacturing lead by spending billions of dollars on new factories and creating a foundry business that will make chips for other companies. The stock jumped about 5%.