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11/10/20: What’s Going On

Big Tech prepares for 5G, the FDA approved another Covid-19 therapeutic and more from around the business world
(metamorworks)
(metamorworks)
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“The rollout of 5G networks isn’t just a major business opportunity for smartphone makers and telecommunications providers. Microsoft, Amazon and Google also are ready to pounce. Those tech giants are trying to capitalize on the massive investments telecom providers such as Verizon Communications Inc. and Vodafone Group are making to upgrade their networks, by luring them to adopt their cloud-computing infrastructure. They are doing that with the promise of helping the telecom companies deliver 5G’s faster speeds and higher data capacity more cheaply.”

“The Food and Drug Administration approved Eli Lilly’s monoclonal antibody drug bamlanivimab for emergency use. The agency said the drug could be used for treating mild-to-moderate cases of Covid-19 in patients who are over the age of 12, according to a release. In clinical trials, the Eli Lilly drug reduced hospitalizations or emergency room visits in patients at high risk for disease progression, the FDA said.”

“Spotify Technology has agreed to acquire podcast advertising and publishing firm Megaphone in a deal that will help the streaming giant ramp up its ad business. The transaction values Megaphone at $235 million, according to its parent, Graham Holdings Co.”

Companies Raising Capital
NameAmountDescription
Nuro$500 MillionFully-Automated Vehicles For Short-Distance Deliveries
Tier Mobility$250 MillionGerman E-Scooter Startup (SoftBank Funding)
Xpressbees$110 MillionIndian Logistics Startup For E-Commerce Partners
Coherent$14 MillionHong Kong-Based Insurance-Tech Startup

“President-elect Joe Biden declared tackling the pandemic “one of the most important battles our administration will face” as he announced a new 12-member Transition COVID-19 Advisory Board on Monday.”

“Adobe Inc. said it will acquire Workfront Inc. for $1.5 billion to add a collaboration tool to its marketing software, providing expanded offerings during a pandemic that has forced companies to maintain productivity while employees work from home.”

“Full Truck Alliance, a Chinese startup that provides an Uber-like service for the trucking industry, is raising about $1.7 billion to further expand its business ahead of an initial public offering next year.”

“Authorities in Brazil suspended trials of Sinovac Biotech’s Covid-19 vaccine after serious side effects were reported for the leading Chinese potential vaccine.”

“In a move echoing recent U.S. antitrust measures, China has unveiled sweeping regulations to curb the monopoly power of tech platforms, sending shares of Alibaba, Tencent, Meituan and JD.com plunging.”

“Elon Musk’s tunneling and transportation startup The Boring Company is eyeing Austin for its next project based on several new job postings.”

“At 1 p.m. EST, the Mac lineup is going to get its biggest jolt in years, with the expected introduction of laptops with Apple’s own microchips, technology that is supposed to give the devices faster performance, better battery life and, maybe, bigger profits.”

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