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4/1/21: What’s Going On

News from around the business world.
(Andre Luiz Moreira)
(Andre Luiz Moreira)
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“The Covid-19 vaccine from Pfizer Inc. and BioNTech SE is highly effective at protecting against symptomatic Covid-19 up to six months after the second dose, the companies said. The findings, released Thursday, emerged from a continuing review of how volunteers in the shot’s late-stage trial were faring. The further analysis suggested the vaccine worked effectively against a variant first identified in South Africa, Pfizer and BioNTech said. And the companies said they haven’t found serious safety concerns so far.”

“Filings for unemployment benefits rose last week but remained near their lowest levels since the pandemic’s onset, amid signs of a broader U.S. economic recovery. Workers filed 719,000 initial jobless claims, on a seasonally adjusted basis, in the week ended March 27, the Labor Department said Thursday. The increase followed a downward revision to 658,000 initial claims the prior week, the lowest point of the pandemic. The four-week moving average, which smooths out volatility in the numbers, fell to 719,000, its lowest point since the pandemic hit in March 2020.”

Companies Raising Capital
NameAmountDescriptions
Next Insurance$250 MillionSMB-Focused Insurance Provider
Plus$200 MillionDriverless Truck Developer
Thrasio$100 MillionConsolidating And Scaling Amazon Marketplace Retailers

“Endeavor Group Holdings is buying up the rest of Ultimate Fighting Championship as part of its bid to go public, according to the preliminary prospectus filed by Endeavor with the Securities & Exchange Commission Wednesday afternoon.”

More: “Elong Musk, the CEO of Tesla and SpaceX and founder of The Boring Company and Neuralink, has been nominated to join the board at Endeavor Group Holdings, according to a filing by the company on Wednesday.”

“Micron Technology Inc. and Western Digital Corp. are each exploring a potential deal for Kioxia Holdings Corp. that could value the Japanese semiconductor company at around $30 billion, according to people familiar with the matter, as a global scramble for memory chips used in smartphones and other devices heats up.”

“Compass, the real estate brokerage backed by SoftBank’s Vision Fund, priced its initial public offering at $18 a share, a day after slashing the projected size of the offering. The stock will start trading later Thursday.”

“Frontier Airlines’ parent company said it raised $570 million in an initial public offering, the latest U.S. carrier to take that route as the industry starts to see signs of a recovery from the Covid pandemic.”

“The U.S. Army said Wednesday that Microsoft has won a contract to build more than custom HoloLens augmented reality headsets. The contract for over 120,000 headsets could be worth up to $21.88 billion over 10 years, a Microsoft spokesperson told CNBC.”

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