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11/17/20: What’s Going On

Google, Home Depot, and more from around the business world.
(Sundry Photography)
(Sundry Photography)
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“The Justice Department and Google are bickering in federal court over the search giant’s access to confidential information provided to the government by rival companies. Google told a U.S. federal court in Washington that two of its in-house lawyers should be allowed to view material provided to DOJ antitrust investigators by Microsoft, Sonos and other companies. The Justice Department pushed back in its own filing with the court. It called for severe restrictions on what Google’s in-house lawyers should be allowed to see.”

“Amazon.com Inc. said Tuesday customers can buy prescription medications through a new store on its platform, a move that comes as more people grow increasingly accustomed to shopping online. The news weighed on shares of other drugstore companies Tuesday before the market opened. Shares of CVS Health Corp. were down 8.5% premarket, while shares of Walgreens Boots Alliance Inc. were off 11.2%. Shares of Amazon were up 2.4%.”

“The streaming cable bundle keeps getting more expensive. Today Hulu announced that its Hulu + Live TV service would go up to $65 a month starting next month. That was a long expected price hike given that the competing service from YouTube was already at that rate.”

Companies Raising Capitals
NameAmountDescription
PingCAP$270 MillionOpen-Source Developer of TiDB Database
Gojek$150 MillionThe Uber of Indonesia (Ride-Hailing and More)
Cato Network$100 MillionCloud-Based Wide Area Networking
Tibber$65 MillionDigital Electricity Supplier
EdgeQ$51 MillionFusing AI Compute and 5G With A Single Chip
Forto$50 MillionDigital Freight Forwarder
Turtlemint$30 MillionIndian Insurance Platform
OpenPhone$14 MillionTransform Your ‘Work Phone’ Into An App

“Walmart Inc.’s quarterly sales rose at a slower pace than earlier in the coronavirus pandemic even as shoppers continued to buy up food and cleaning supplies and the retailer pushed early holiday deals.”

“Home Depot Inc. reported strong sales growth in its latest quarter as the retailer continues to thrive from people spending more time on home-improvement projects during the coronavirus pandemic.”

“China’s Huawei Technologies Co. moved to shore up its U.S.-sanctions-damaged business by selling budget smartphone brand Honor to a state-led consortium.”

“About 300 companies that received as much as half a billion dollars in pandemic-related government loans have filed for bankruptcy, according to a Wall Street Journal analysis of government data and court filings.”

“Autodesk, the U.S. publicly listed software and services company that targets engineering and design industries, has acquired Norway’s Spacemaker, a startup that has developed AI-supported software for urban development,” for $240 million.

“Chinese search provider Baidu has agreed to buy Chinese live-streaming service YY for about $3.6 billion in cash from its owner Joyy, the companies said.”

“Facebook’s Mark Zuckerberg and Twitter’s Jack Dorsey are slated to testify today before the Senate Judiciary Committee where both CEOs will likely be targeted with partisan attacks.”

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