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11/9/20: What’s Going On

Netflix is betting big on Asia-Pacific, ViacomCBS' revenue fell and more from around the business world.
(Studio R3)
(Studio R3)
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“Netflix is betting big on Asia-Pacific by investing millions of dollars into original and licensed content in major markets like India, a senior executive at the company told CNBC. When the tech company reported third-quarter earnings last month, it said nearly half of its paid membership growth came from APAC — the greatest share of any region. International expansion has been a major focus for Netflix in recent years, particularly in markets across Asia-Pacific since 2016.”

“ViacomCBS revenue was down 9% to $6.1 billion at the end of the last quarter, as advertisers continued to decrease spending amidst the ongoing coronavirus pandemic. The company, whose channels include CBS, Nickelodeon and MTV, did see a 10%  increase in revenue paid from distributors like streaming services and cable and satellite operators.”

Companies Raising Capital
NameAmountDescription
Cellwize$32 MillionHelping Carriers and Partners Adopt 5G Services
Provizio$6.2 MillionCar Safety Platform Using Sensors and AI
Nektar$2.15 MillionSingapore-Based Productivity Platform

“Walt Disney Co., Lyft Inc. and McDonald’s Corp. are among the major companies that will provide quarterly updates to investors this week, as Wall Street nears the end of another earnings season.”

“China’s trade surplus with the U.S. and the rest of the world widened in October as the global recovery buoyed demand for made-in-China goods, helping export growth beat market expectations for a seventh straight month.”

“Activist investor Elliott Management Corp. has taken a stake in F5 Networks Inc. and spoken to the software company’s management in recent weeks about ways to boost its lagging stock.”

“The co-founder of Quartz and its editor in chief agreed to buy the business news website from Japanese financial data and media company Uzabase Inc., a deal that comes as Quartz has suffered from the economic fallout from the coronavirus pandemic.”

“[Netflix] is testing in France a channel that would show a stream of movies and TV shows, programmed around a set schedule, according to Variety. It’s called Direct and it is, by any definition, very different to the on-demand nature of the service now.”

“The European Union will impose tariffs on $3.99 billion of Boeing Co. jets and other U.S. goods annually as part of a long-running trade dispute, the bloc’s trade chief said Monday.”

“SoftBank said it swung to a net profit in the quarter through September thanks to investment gains from the $100 billion Vision Fund and its much smaller successor, the Vision Fund 2.”

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