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3/9/21: What’s Going On

News from around the business world.
(Roman Tiraspolsky)
(Roman Tiraspolsky)
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“China’s car sales surged in February from a year earlier when the country was at the height of the coronavirus pandemic and consumers were locked down in their homes. Retail sales of passenger cars last month more than quadrupled to 1.18 million vehicles compared with the year before, the China Passenger Car Association said Tuesday. The jump reflects the low sales during the same period last year. Sales plummeted 79% in February 2020 as many cities were locked down and factories and dealerships were shut.”

“T-Mobile US Inc. will automatically enroll its phone subscribers in an advertising program informed by their online activity, testing businesses’ appetite for information that other companies have restricted. The No. 2 U.S. carrier by subscribers said in a recent privacy-policy update that unless they opt out it will share customers’ web and mobile-app data with advertisers starting April 26. For example, the program could help advertisers identify people who enjoy cooking or are sports enthusiasts, the company said.”

“The House plans to pass Democrats’ $1.9 trillion coronavirus relief bill this week and get fresh aid to Americans starting this month. The chamber aims to approve the rescue package in time for President Joe Biden to sign it before key unemployment programs expire on Sunday. The Senate passed the legislation on Saturday.”

Companies Raising Capital
NameAmountDescriptions
Ibex Medical Analytics$38 MillionAI-Powered Cancer Diagnostic Platform
Tackle$35 MillionHelping Companies Navigate Cloud Marketplaces
Nodwin Gaming$22.4 MillionIndian eSports Firm
Wefarm$11 MillionNetwork For Independent Farmers
ForSight$10 MillionEye Surgery Robotics Startup

“Security firm McAfee announced this morning that it will be selling its enterprise business to a consortium led by the private equity firm Symphony Technology Group for $4 billion.”

“Zoom Video Communications Inc. founder Eric Yuan transferred roughly 40% of his ownership in the company he runs, a stake valued at about $6 billion, after Zoom’s shares more than tripled last year.”

“Facebook Inc said on Monday it was testing a feature on Instagram that allows some content creators in India to share short video clips, known as reels, on their Facebook accounts.”

“U.S.-listed Chinese electric vehicle (EV) makers Li Auto Inc, Nio Inc and Xpeng Inc plan to list in Hong Kong as soon as this year, tapping a growing investor base closer to home.”

“Amazon.com Inc. has scooped up a minority stake in a cargo airline that operates a portion of its fast-growing air-cargo division, the latest sign of the retailer’s long-term ambitions to expand its air-freight operations.”

“Chinese online retailer JD.com, Alibaba’s e-commerce rival, will abandon plans to list its digital finance affiliate JD Technology on the stock domestic market, the South China Morning Post reported.”
“Dick’s Sporting Goods on Tuesday topped Wall Street’s fourth-quarter estimates, as shoppers continued to buy equipment and apparel for outdoor activities and home workouts during the pandemic. Shares plummeted by nearly 7% in premarket trading, however, as the company forecast that sales trends will likely slow.”

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