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2/16/2021: What’s Going On

Qualcomm, Parler and more from around the business world.
(Ascannio)
(Ascannio)
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“US chipmaker Qualcomm and other companies are opposing the $40 billion takeover of UK chip designer Arm by Nvidia, according to people familiar with the matter and documents seen by The Information. Qualcomm is urging the Federal Trade Commission and antitrust authorities in the European Union, the UK and China to block the deal, which would give Nvidia full control over Arm’s widely used technology. CNBC previously reported Qualcomm’s opposition to the deal. Google and Microsoft are also opposed, according to Bloomberg.”

“China is considering banning rare earth exports that would be vital to the U.S. defense industry, the Financial Times reported. That move could have a wider impact on U.S. companies like Apple and Tesla that make smartphones or electric vehicles, which use rare earths for magnets and batteries.”

“You used to need at least $10 million in investable assets to draw the attention of wealth managers at Goldman Sachs Group Inc. Now, all it takes is $1,000 and a smartphone. The Wall Street firm on Tuesday is set to unveil Marcus Invest, a low-cost digital platform that allocates and automatically rebalances individuals’ wealth across portfolios of stocks and bonds based on the models developed by the firm’s investment-strategy committee.”

Companies Raising Capital
NameAmountDescription
Nature’s Fynd$150 MillionFood Technology Firm With A New Food Cultivated From Fungus (Raised Equity And Debt)
GetYourGuide$97 MillionCurates, Organizes And Lets Travelers And Others Book Tours And Other Experiences (Raised A Revolving Credit Facility)
Zomentum$13 MillionIT Firm Scaling Its Sales Acceleration Platform For Channel Partners
Jigsaw$3.7 MillionDating App With a Modern Twist

“Traveloka, Southeast Asia’s biggest online travel startup, is planning to list in the U.S. this year to raise funds using a special purpose acquisition company, known as SPAC, according to Chief Executive Offer Ferry Unardi.”

“Parler, the social network popular with conservatives, has come back online after going dark when some tech companies withdrew their services in the wake of the deadly attack on the U.S. Capitol.”

“The World Health Organization approved AstraZeneca PLC’s Covid-19 vaccine for emergency use on Monday, clearing the way for the first shipments of free vaccines in the West’s main effort to inoculate the world’s poorest nations.”

“Marriott International Inc. Chief Executive Arne Sorenson, who created the world’s largest hotel operator by acquiring Starwood Hotels & Resorts Worldwide Inc. in 2016, died Monday. He was 62.”

“U.S. oil production has plunged by more than 2 million barrels a day as the coldest weather in 30 years brings havoc to key producing states that rarely have to deal with frigid Arctic blasts.”

“Bank of America Corp. clients with $614 billion combined are in the throes of an unprecedented frenzy of risk-taking, as more Wall Street banks sound the alarm on greed across markets.”ba

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