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1/21/21: What’s Going On

Intel, Eli Lilly and more from around the business world.
RafaPress
RafaPress
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“About 900,000 workers filed for unemployment benefits last week as the labor market struggles to recover this winter. The number of jobless claims last week was down slightly from the week ended Jan. 9, when applications jumped by more than 100,000 to 926,000. The Labor Department said the increase for the Jan. 9 week—initially estimated as the largest weekly increase since March—was smaller than previously thought.”

“Americans are holding on to their homes longer, and it is costing would-be home buyers. The length of time U.S. homeowners stay put has been rising steadily, a big reason why the inventory of homes for sale is at record lows and prices are near all-time highs.”

Companies Raising Capital
NameAmountDescription
iSTOX$50 MillionMaking Private Equity Accessible To More Investors
Indy$42.4 MillionAccounting Automation Startup (Previously Named Georges)
Curtsy$11 MillionA Clothing Resale App Aimed At Gen Z Women
Genflow$11 MillionA London And LA-Based Brand-Building Agency That Offers A Platform To Let Influencers Start Companies
uLesson$7.5 MillionAfrican Edtech Startup that Sells Digital Curriculum To Students Through SD Cards

“Google has reached an agreement with an association of French publishers over how it will be pay for reuse of snippets of their content. This is a result of application of a ‘neighbouring right’ for news which was transposed into national law following a pan-EU copyright reform agreed back in 2019.”

“Indian stock exchanges approved the $3.4 billion deal between retail giants Reliance Retail and Future Group on late Wednesday in yet another setback for Amazon, which has invested over $6.5 billion in the world’s second largest internet market and sought to block the aforementioned deal.”

“In a letter to President Joseph Biden, veteran Amazon executive Dave Clark offered to aid the new administration in its efforts to vaccinate 100 million Americans in Biden’s first 100 days in office.”

“China’s big telecom carriers asked the New York Stock Exchange to rethink their planned delisting, the latest twist in a to-and-fro about whether they should be allowed to trade in U.S. markets.”

“Intel Corp. is poised to post full-year results that outline the breadth of challenges awaiting the incoming chief executive as the chip maker looks to fend off competitive pressures and rebuild its technological leadership.”

“Eli Lilly & Co. said its antibody-based drug prevented Covid-19 among many residents and staff of nursing homes and assisted-living facilities, results that point to the drug complementing vaccines while inoculations increase.”

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