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11/11/20: What’s Going On

Covid-19 update, Russia's vaccine, Datadog and more from around the business world
(XanderSt)
(XanderSt)
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Covid-19 Update: “Coronavirus hospitalizations in the U.S. reached a record 61,964, topping an April peak of 59,940. Scientists expect the number to continue to climb. The U.S. reported more than 100,000 coronavirus cases for the seventh straight day, as the total number of confirmed cases topped 10.2 million.”

“Russia’s Sputnik V vaccine is 92% effective at protecting people from COVID-19 according to interim trial results, the country’s sovereign wealth fund said on Wednesday, as Moscow rushes to keep pace with Western drugmakers in the race for a shot…While experts said the Russian data was encouraging and reinforced the idea the pandemic could be halted by vaccines, they warned that the results were only based on a small number of trial volunteers who had contracted COVID-19.”

“Datadog, the cloud application monitoring company whose stock has been one of the best-performing on the Nasdaq this year, reported a sales increase of 61% for its September quarter compared to last year. Yet Datadog shares dropped 10% after the earnings announcement, suggesting that investors had bigger expectations for a company whose shares are still up around 150% since the start of the year. The 61% sales increase was down from 68% last quarter and 87% during the previous quarter.”

Companies Raising Capital
NameAmountDescription
SentinelOne$267 MillionAI-Based Endpoint Security Firm
Hopin$125 MillionLondon-Based Virtual Events Platform
Seedcamp£78 MillionEuropean Pre-Seed and Send-Stage VC Firm
Heroes$65 MillionEuropean E-Commerce Startup Similar To Thrasio

“TikTok’s Chinese parent company asked a U.S. appeals court for additional time to work out a potential divestiture of the popular video-sharing app, citing a lack of communication from the Trump administration with a Thursday deadline looming.”

“TikTok-owner ByteDance is on track to generate at least 180 billion yuan ($27.2 billion) in advertising revenue in China this year, which will cement its No. 2 spot in China’s digital ad market.”

“The U.K. government proposed new legislation to bolster its powers to block foreign takeovers of British companies, the latest effort under Prime Minister Boris Johnson to shield industries that are deemed strategic or important to the country’s national security.”

“U.S. aviation authorities are considering new safety-related penalties or other enforcement action against Boeing Co. even as they prepare to allow the plane maker’s beleaguered 737 MAX fleet back in the air as soon as the middle of next week.”

“Alibaba’s Hong Kong-listed stock plunged 9.8% Wednesday as investors continued to sell Chinese tech stocks due to concerns about the impact of China’s new antitrust rules.

“The European Commission said on Wednesday it had sealed a deal with Pfizer and BioNTech for the supply of up to 300 million doses of their Covid-19 vaccine candidate.”

“Brazil’s health authority Anvisa said Wednesday it has authorized clinical trials of China’s Sinovac coronavirus vaccine to resume after suspending them this week.”

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