Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, compiled by hand to exclude the clutter and ensure you get up to speed in under a minute.
[Food and Beverage] Its no doubt that Covid-19 caused irreversible damage to the F&B industry. UK’s Wetherspoons reported a £46.2 million loss between July 2020 and January 2021. The 872 strong pub chain reported a profit of £57.9 million in the same period last year.
[Big Tech] Google has announced that it intends on spending $7 billion on expanding its network of offices and data centres. The company also plans on creating 10,000 new jobs. The company had spent nearly $13 billion in 2019 to expand its offices.
[M&A] The largest U.S. non-life insurer, Chubb has made a $23.2 billion takeover offer for Hartford Financial Services Group. Hartford’s board is currently considering the non-binding offer but are not impressed by the premium offered on the deal - just a 13% premium over Hartford’s Wednesday closing share price.
Over60: Bloomberg Quint
[C-Suite] Kodak was forced to claw back nearly $3.9 million from five former executives. The ex-execs sold their share options when Kodak witnessed a sharp surge in its share price last year during speculation of the company receiving a $765 million loan from the U.S. Government to manufacture drug ingredients.
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