fbpx

2/22/21: What’s Going On

News from around the business world.
(Michael Vi)
(Michael Vi)
Share on facebook
Share on twitter
Share on linkedin
Share on email

One of the largest makers of voting machines in the U.S. on Monday sued a prominent supporter of former President Donald Trump, alleging that the businessman had defamed the company with false accusations that it had rigged the 2020 election for Joe Biden. Dominion Voting Systems sued Mike Lindell, chief executive of Minnesota-based MyPillow Inc., and his company in the U.S. District Court for the District of Columbia, seeking more than $1.3 billion in damages.

Boeing Co. on Sunday told airlines to stop flying its wide-body 777 aircraft equipped with a type of engine that broke apart during a flight over the weekend near Denver, as the Federal Aviation Administration said it would order immediate inspections of those jets. Boeing’s recommendation followed action by regulators in the U.S. and Japan aimed at the Pratt & Whitney engines found on 128 of its 777s. The United Airlines Holdings Inc. flight Saturday was the third failure involving that model plane with those engines in recent years.

Apps like DoorDash and Uber Eats have provided restaurants a flood of customers in the pandemic. Now a host of food-ordering tools, along with some restaurants, are finding ways around those apps and the commissions they charge. DoorDash Inc., Uber Technologies Inc.’s UBER Eats and Grubhub Inc. GRUB can charge restaurants up to 30% of every order—a chunk many owners say dents profits even as more orders come in. A new crop of services is promising online ordering at a lower cost to eateries, by letting the restaurants arrange more deliveries themselves. 

Companies Raising Capital
NameAmountDescriptions
Blake Lake$77 MillionChinese Firm Giving Factories A Digital Upgrade
Ageras$73 MillionAccountancy Marketplace And Bookkeeping Tech Stack

“A special-purpose acquisition company backed by shareholder activist Starboard Value LP is nearing a deal to combine with data-center provider Cyxtera Technologies Inc. Starboard Value Acquisition Corp. is discussing a deal that would value Cyxtera at around $3.4 billion including debt.”

“M&T Bank Corp. is set to acquire  People’s United Financial Inc. in an all-stock deal valued at more than $7 billion, according to a person familiar with the matter.”

“The Pfizer Inc. and BioNTech SE Covid-19 vaccine appeared to stop the vast majority of recipients in Israel becoming infected, providing the first real-world indication that the immunization will curb transmission of the coronavirus.”

“Jay-Z and LVMH Moët Hennessy Louis Vuitton SE are joining forces in the Champagne business, further cementing the alliance between the world of hip-hop and luxury as the Covid-19 pandemic saps sales of the festive wine world-wide.”

“Xos, a maker of electric commercial vehicles, has agreed to go public through a merger with a blank-check company, NextGen Acquisition Corp., according to a statement viewed by Bloomberg News.”

“The federal government’s signature coronavirus-relief program for small businesses will accept applications exclusively from companies with fewer than 20 employees for 14 days starting Wednesday, President Biden will announce Monday, according to administration officials.”

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

Responses

Related Posts