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1/26/21: What’s Going On

Apple, Twitter and more from around the business world.
(Travel Man)
(Travel Man)
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“Many U.S. consumers are starting 2021 flush with savings likely to help fuel the economic recovery this year…Americans saved $1.4 trillion in the first three quarters of 2020, or about twice as much as in the same period of the prior year, according to analysis by Berenberg Economics. That amount is equivalent to nearly 10% of 2019 household spending, estimates Berenberg’s chief economist, Holger Schmieding.”

“Apple on Monday dropped a tantalizing clue about a secret new project at the company by naming Dan Riccio, its longtime head of hardware engineering, to lead it...Another possibility is that Riccio will take charge of the company’s augmented and virtual reality projects, which The Information has previously reported on. “I’m looking forward to doing what I love most—focusing all my time and energy at Apple on creating something new and wonderful that I couldn’t be more excited about,” Riccio said in a statement.”

“Meet Sidecar Health, the newest member of the tech industry’s billion dollar healthcare startup club. The valuation comes thanks to $125 million in new funding that the company will use to expand its new model for health insurance. Sidecar Health’s insurance plans give consumers the ability to pay directly for care — often at steep discounts to the prices that patients would be charged through traditional insurance plans.”

Companies Raising Capital
NameAmountDescription
Wolt$530 MillionFinnish Delivery Startup Expanding Beyond Europe And Into Retail
Klook$200 MillionHong Kong-Base Travel Activities Platform Backed By SoftBank Vision Fund
Rhino$95 MillionProvides An Insurance Product To Real Estate Companies

“The European Union paved the way for companies including Tesla Inc. and BMW AG to get about 2.9 billion euros ($3.5 billion) of state aid for battery projects that will strengthen the bloc’s position in the race to produce more electric vehicles.”

“NBCUniversal signed a deal with World Wrestling Entertainment to fold the wrestling giant’s subscription streaming service, WWE Network, into NBCU’s Peacock streaming service in the U.S. WWE 1.1 million U.S. subscribers will now get Peacock Plus.”

“Twitter on Monday said it would begin testing Birdwatch, a new program that has the potential to drastically change the social network’s approach to combating misinformation and other harmful content.”

“Video platform Vimeo Inc. has completed a $300 million fundraising round that values the company at $5 billion, an 82% boost from a raise three months ago.”

“Twitter Inc. has reached a deal to buy newsletter platform Revue Holding BV, the companies said Tuesday, reflecting the interest among social-media companies in providing content creators with tools to make money.”

“Amazon.com Inc. is planning to add 3,000 employees in its corporate ranks in the Boston area, one of a number of expansions of technology jobs in major American cities for the company.”

“The auto industry’s quickening shift to electric cars is spurring investment in another emerging industry in the U.S.: manufacturing lithium-ion batteries for those vehicles.”

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