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1/5/21: What’s Going On

Slack, Discovery and more from around the business world.
(Tada Images)
(Tada Images)
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“The New York Stock Exchange said it will no longer delist China’s three biggest state-owned telecommunications companies, backtracking on a plan that had threatened to escalate tensions between the world’s largest economies. NYSE’s U-turn came just four days after the exchange said it would remove shares of China Mobile Ltd., China Telecom Corp. and China Unicom Hong Kong Ltd. to comply with a U.S. executive order. NYSE cited “consultation with relevant regulatory authorities” in a brief statement late Monday announcing the reversal.”

“The European Union is negotiating with Pfizer Inc. and BioNTech SE on a deal that could double their supply of Covid-19 vaccine to the region, according to people familiar with the talks. The new contract would include 100 million doses, as well as an option for as many as 200 million more, said the people, who asked not to be identified because the talks are private.”

“ShareChat, an Indian social network that added Twitter as an investor in 2019, may soon receive the backing of two more American firms. The Bangalore-based startup is in advanced stages of talks to raise money from Google  and Snap, as well as several existing investors, including Twitter.”

Companies Raising Capital
NameAmountDescription
Aeva$200 MillionLidar Company Started By Two Former Apple Engineers
Color$167 MillionHealthcare Startup Expanding The ‘Last Mile’ Of U.S. Health Infrastructure
Boston Metal$50 MillionBill Gates-Backed Firm Looking To Decarbonize The Metal Industry

“Workplace messaging platform Slack Technologies Inc. suffered a widespread service disruption for several hours Monday, as many employees returned to work for their first full workday of the year.”

“A group of Google employees has formed a union to organize workers across the technology company’s sprawling global operations, a rare move within Silicon Valley and one that reflects growing employee activism in the sector.”

“The fate of Jack Ma, China’s high-profile and best known technology entrepreneur became the subject of intense speculation on social media and in the press this week, as the billionaire businessman disappeared from the public limelight after brushes with Chinese regulators in recent weeks.”

“Gone are the long waits at charging stations: Chinese electric-vehicle startup NIO is pioneering battery-swap systems, challenging Tesla and other rival car makers.”

“Discovery has launched its new streaming service, [Discovery+] with widespread distribution agreements, unlike rivals NBCUniversal and WarnerMedia.”

“U.S. spending on gas this year should see a modest recovery after a nearly $100 billion decline in 2020 due to the coronavirus pandemic, according to fuel data company GasBuddy.”

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