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2/18/21 What’s Going On

News from around the business world.
(Evan Lorne)
(Evan Lorne)
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“Google has agreed to pay Rupert Murdoch’s News Corp for use of its news content around the world, ending a long standoff with Murdoch’s news empire and Australian regulators. For the past several months, Australian legislators were planning to force tech companies, like Facebook and Google, to pay for news, a move that Google had said would force it to shut down its search engine in the country.”

“New York-based stock trading app Public has raised $220 million in Series D funding at a valuation of $1.2 billion, the company announced on Wednesday. The deal comes one day after the business formally eliminated payment for order flow, a practice of accepting payments for routing trades to big Wall Street firms, and introduced optional tipping instead. The new financing also follows the $3.4 billion investors recently put into Robinhood and the $250 million in extra funding raised by Reddit, the two companies most closely involved in January’s social media–powered surge in consumer stocks.”

“iHeartMedia Inc. has agreed to acquire E.W. Scripps Co.’s Triton Digital for $230 million in a deal that will give the radio giant a full slate of audio advertising technology and measurement capabilities as it builds out its podcast business. The biggest U.S. radio broadcaster has been working to expand its digital, streaming and on-demand business, and launched its bigger bet on podcasting in 2018 with its acquisition of Stuff Media LLC.”

Companies Raising Capital
NameAmountDescriptions
Sentry$60 MillionApplication Performance Monitoring Platform
Grip$13 Million‘Omnichannel Experience’ Between Virtual, Hybrid And Live Events
Artie$10 MillionRethinking Distribution of Mobile Games
Leverage Edu$6.5 MillionHelp Indian Students Land At Top Colleges Abroad

“Delta Air Lines Inc. on Thursday said it signed a multiyear contract with International Business Machines Corp. to help the carrier move most of its data and applications to the cloud.”

“Marriott International Inc. ended 2020 with a loss of $267 million—its first annual loss since 2009—as the company absorbed the effects of the downturn in global travel during a pandemic that emptied most of its rooms last March and continues to sap demand.”

“Severe weather conditions hitting much of the U.S. have caused some semiconductor companies to idle production capacity, threatening to exacerbate a chip shortage that has already prompted carmakers to curtail output at some plants.”

“Apple Inc is angling to participate in a new scheme to boost India’s exports of computer products, part of what government and industry sources say are plans to bring iPad tablet manufacturing to the South Asian country.”

“Unemployment claims rose to 861,000 last week, halting a downward trend that pointed to an improving labor market.”

“Oil’s recent rise above $60 a barrel will test the willpower of shale companies that pledged to slow drilling and repair balance sheets battered by the pandemic.”

“A growing mosaic of state-level internet privacy proposals in lieu of a nationwide framework could provide new protections for consumers and additional question marks for businesses.”

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