fbpx

2/11/2021: What’s Going On

AstraZeneca, Pepsi and more from around the business world.
(Andrey Armyagov)
(Andrey Armyagov)
Share on facebook
Share on twitter
Share on linkedin
Share on email

“Worker filings for unemployment claims fell last week to a level well below an early January peak, a sign the labor market is mending from a steep slowdown. The number of weekly claims for unemployment benefits decreased to 793,000 last week from 812,000 a week earlier, the Labor Department said on Thursday. Claims have steadily declined since early January when they exceeded 900,000. Filings remain above the pre-pandemic peak of 695,000.”

“For months, entertainment executives have been wondering what former Disney executives Tom Staggs and Kevin Mayer would decide to choose back for the first target of their SPAC, Forest Road Acquisition Corp. Would it be a movie studio? Would it be a digital media company? Turns out it was neither. Forest Road announced today that it is buying Beachbody Company, a streaming digital fitness service, merging it with Myx Fitness Holdings, which has its own fitness offering and a connected fitness bike.”

Companies Raising Capital
NameAmountDescription
BharatPe$108 MillionNew Delhi-Based Financial Services Startup
Northmill$30 MillionSweden-Based Challenger Bank
UpEquity$25 MillionCash-Pay Mortgage Lending Service
Capitalize$12.5 MillionNew York-Based Startup Aimed At Consolidating 401(k) Accounts

“AstraZeneca said it was fixing problems with the manufacturing of its Covid-19 vaccine and expects to roughly double monthly production to 200 million doses by April, as it seeks to move past a rocky start to the shot’s rollout.”

“Royal Dutch Shell said it would start reducing oil production, calling an end to a decades-old strategy centered on pumping more hydrocarbons as it and other energy giants seek to capitalize on a shift to low-carbon power.”

“United Airlines Holdings Inc. said Wednesday that it plans to buy up to 200 flying taxis from an electric aircraft startup, as the airline industry seeks new technologies to reduce its carbon footprint.”

“Hormel Foods Corp. agreed to buy the Planters snack brand from Kraft Heinz Co. for $3.35 billion in cash, expanding the Skippy peanut butter maker’s portfolio of pantry staples as the pandemic drives demand for packaged food.”

“Kimbal Musk, brother of Tesla CEO Elon Musk, sold 30,000 shares of the company earlier this month for roughly $25.6 million, according to a securities filing.”

“PepsiCo on Thursday reported fourth-quarter earnings that topped estimates, fueled by pandemic snacking and higher sales of drinks like Gatorade Zero and Bubly sparkling water.”

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

Responses

Related Posts