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12/28/20: What’s Going On

Goldman Sachs, Apple and more from around the business world.
(Lebedev)
(Lebedev)
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“The Federal Communications Commission’s ongoing sale of wireless licenses has fetched more than $69.8 billion after three weeks of bidding, a record sum that could alter cellphone carriers’ prospects for the next decade. The auction proceeds have already topped the $44.9 billion raised in 2015 by an earlier sale of midrange cellular licenses, which U.S. cellphone carriers used at the time to enhance their 4G service. Those companies are now investing billions of dollars in the next wave of fifth-generation coverage. The 5G standard promises to speed the flow of data to phones and other wireless devices like personal computers, cars and industrial machinery.”

“Companies won’t have to scramble to find alternative solutions to keep data flowing between the European Union and the U.K. post Brexit after negotiators agreed to a temporary solution that will keep the current rules in place for several months. While EU officials have been working on a so-called adequacy decision, which would protect data transfers, they won’t be done by the time the transition period ends next week. To bridge that gap, the Brexit deal includes an interim solution for a maximum of six months.”

“Square Inc., the digital-payment company run by Jack Dorsey, has held talks to acquire the music-streaming service Tidal as part of a push to diversify. Dorsey has discussed a potential deal with Jay-Z, the rapper and music mogul who acquired Tidal for $56 million in early 2015. The negotiations may not result in a transaction.”

Companies Raising Capital
NameAmountDescription
Indian Startups$9.3 BillionThe Total Collection Of Indian Startups In 2020
Zuoyebang$1.6 BillionChinese Online Education App
Brightpearl$33 MillionTo Boost Its Platform For Retailers

“The People’s Bank of China on Sunday concluded its second digital-currency pilot program, as the central bank moves closer to a formal rollout that would make China the first major world economy to introduce such a system.”

“Goldman Sachs Group Inc. is leading a $65 million financing in Echelon Fitness, giving the bank and another investor a controlling stake in a maker of exercise machines as more people work out at home amid the pandemic.”

“No longer China’s most valuable company, Alibaba Group Holding Ltd. has erased almost all its stock-market gains this year, just days after Chinese regulators signaled a major change in their posture toward the e-commerce behemoth and its finance affiliate, Ant Group Co.”

“The House prepared to vote Monday on overriding President Trump’s veto of the annual defense policy bill, in a late flurry of congressional action that also includes the first test of the president’s call for $2,000 stimulus checks.”

“Apple plans to release an updated version of its Apple TV set-top box next year with a bigger focus on games, a new remote control and an updated processor, Bloomberg reported.”

“Consolidation in autonomous vehicles continued as Ike, a small developer of semi-trailer trucks, sold itself to Nuro, the heavily funded high-profile developer of a small driverless delivery vehicle. It’s the third most notable deal of the year in the young autonomous vehicle industry, after Zoox sold itself to Amazon and Uber’s self-driving car unit sold to Aurora—which also is trying to develop automated semi-trailer trucks.”

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