fbpx

1/8/21: What’s Going On

Elon Musk, Boeing and more from around the business world.
(Alex Gakos)
(Alex Gakos)
Share on facebook
Share on twitter
Share on linkedin
Share on email

“Elon Musk has overtaken Amazon founder Jeff Bezos as the world’s richest person, driven by a meteoric rise in the value of Tesla, the electric-car maker he runs. The bragging rights around personal wealth pit two of the tech industry’s biggest rivals in a competition that spans from the roads to outer space. Messrs. Musk and Bezos, both founders of rocket companies, have clashed over issues such as Amazon’s power over book publishing and Mr. Musk’s interest in colonizing the planet Mars. Amazon last year bought a self-driving-car startup that would compete with Tesla.”

“Samsung Electronics Co. expects a 25% rise in fourth-quarter operating profit, indicating continued demand for its tech components amid the coronavirus pandemic. On Friday, the world’s largest smartphone and memory-chip maker forecast operating profit of around 9 trillion South Korean won, equivalent to about $8.2 billion, during the final three months of 2020. That compares to 7.16 trillion won from the prior year’s fourth quarter. Samsung also expects around 61 trillion won in revenue, compared with 59.88 trillion won a year ago.”

“The U.S. trade deficit hit a 14-year high in November as stores stocked up cellphones and other imported consumer and household goods ahead of the holiday season. The foreign-trade gap in goods and services expanded 8% from the prior month to a seasonally adjusted $68.14 billion in November, the Commerce Department said Thursday. That was the highest deficit since August 2006, and the goods deficit was the highest on record.”

Companies Raising Capital
NameAmountDescription
Jobandtalent$108 Million‘Workforce As A Service’ Platform
Carrum Health$40 MillionConnecting Employer Health-Care Plans To Surgical Centers Of Excellence
Voxie$6.7 MillionText Marketing Startup

“Tencent Holdings Ltd. has increased its stake in Xingsheng Youxuan, investing $100 million in the Chinese online grocery startup at a valuation of about $5 billion, according to people familiar with the matter.”

“Boeing Co. will pay $2.5 billion to resolve a Justice Department criminal investigation and admit employees deceived aviation regulators about safety issues that led to two deadly crashes of the 737 MAX, authorities said.”

“France’s Atos SE made an unsolicited bid to acquire DXC Technology Co., a Virginia-based spinout from what was once Hewlett Packard Enterprise that was valued at about $6.7 billion at Wednesday’s market close.”

“Robinhood Markets, the trading platform popular with novice investors, is considering selling some of its shares directly to its own users when it goes public this year, according to people familiar with the matter.”

“Online lender SoFi announced Thursday that it will become a publicly traded company by merging with a special purpose acquisition company led by former venture capital investor Chamath Palihapitiya.”

“Amazon.com Inc. has shuttered Prime Pantry, a grocery and household essentials delivery service that was one of the retailer’s early forays into selling food online.”

“Applications networking company F5 announced today that it is acquiring Volterra, a multi-cloud management startup, for $500 million. That breaks down to $440 million in cash and $60 million in deferred and unvested incentive compensation.”

“Pfizer Inc. and BioNTech SE’s Covid-19 vaccine may protect against the new fast-spreading variants of the coronavirus that have emerged in the U.K. and South Africa, according to a study.”

Share on facebook
Share on twitter
Share on linkedin
Share on email

Responses

Related Posts