fbpx

1/27/21: What’s Going On

Sanofi, Boeing and more from around the business world.
(Vaalaa)
(Vaalaa)
Share on facebook
Share on twitter
Share on linkedin
Share on email

“Melvin Capital and Citron Capital closed out of their short positions on GameStop Corp. as the firms succumbed to the stock’s meteoric ascent. Melvin Capital closed its position after repositioning its portfolio, according to a spokesperson. Citron Capital’s Andrew Left also said Wednesday that the firm covered the majority of its GameStop short bets at “a loss of 100%” in a YouTube video. The gaming retailer surged even higher in U.S. premarket trading after an Elon Musk tweet fanned the flames of the stock’s rally that has sent the company’s market value beyond $10 billion.”

“Sanofi agreed to produce millions of doses of BioNTech SE and Pfizer Inc.’s coronavirus vaccine in an unusual collaboration to speed vaccination efforts. The French drugmaker will give BioNTech access to a production facility in Frankfurt, which will start to deliver doses this summer, Sanofi said in a statement Wednesday. The deal will produce more than 125 million doses of the messenger RNA vaccine for the European Union.”

“The reins to Sheldon Adelson’s gambling empire are now in the hands of a deputy and a son-in-law. The executive shift sets in motion a succession plan as Las Vegas Sands Corp. moves forward without its founder. The company’s board named Rob Goldstein, 65 years old, chief executive and chairman on Tuesday. Until now, Mr. Adelson had been the only CEO of the company he began in 1989. Mr. Adelson died Jan. 11 at the age of 87 from complications of treatment for non-Hodgkin lymphoma.”

Companies Raising Capital
NameAmountDescription
Didi Chuxing$1.5 BillionChinese Ride-Hailing Giant Targeting A New Freight Business
Prime Mover Labs$245 MillionSecond Fund to Invest In Early-Stage Science Startups
DriveNets$208 MillionCloud-Based Alternative To Network Routers
Fast$102 MillionStripe-Backed Startup Developing Quick Checkouts Online
Booksy$70 MillionBooking and Payments App For Beauty Appointments With Local Businesses

“The South is leading the U.S. labor market’s recovery from the pandemic’s initial shock as the only major region with continued payroll growth at the end of last year while the rest of the country lost jobs.”

“Boeing Co. reported its biggest-ever annual loss and took a huge financial hit on its new 777X jetliner, reflecting the pandemic’s worsening toll on the plane maker.”

“German auto giant Volkswagen AG is asking the U.S. Supreme Court to overturn a ruling that it says opens up car makers to a flood of emissions regulations from local governments that could clash with existing federal rules.”

“Ant Group Co. is planning to turn itself into a financial holding company overseen by China’s central bank, responding to pressure to fall fully in line with financial regulations, according to people familiar with the matter.”

“Walgreens Boots Alliance Inc. named Starbucks Corp. operating chief Rosalind Brewer as its next chief executive, setting her up to be the only Black woman leading a Fortune 500 company today.”

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

Responses

Related Posts