1st January 2021

We made it!

Dear Reader,

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.

Programming note: We’re testing a new table summarizing the market’s movement for the day/preceding day. If you think that’s pretty handy or if there’s anything else you’d like us to address, do get in touch with us.

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[Markets] The New York Stock Exchange is set to delist three major Chinese telecom companies: China Mobile, China Telecom Corp. CHA, and China Unicom Hong Kong Ltd. following a U.S. government order barring Americans from investing in firms with Chinese military ties.

Over60: WSJ, Mint

[Cybersecurity] Microsoft is the latest victim of the Russian-linked cyber-intrusion into U.S. corporate and government systems. Microsoft confirmed the company’s internal source code, used to build software products, and was viewed by the intruders by downloading malicious software from a SolarWinds Corp vendor. 

Over60: WSJ, Reuters

[Markets] The Indian stock market began in 2021 with record highs registering its longest weekly winning streak in a decade. The S&P BSE Sensex today climbed 0.3% to 47,868 in its ninth straight week of gains.

Over60: Mint

[Automobiles] In a move that has surprised many, Ford and Mahindra have decided to call off their joint venture, blaming global economic and business conditions due to the coronavirus pandemic. Ford will reportedly continue to maintain solo operations in India.

Over60: Mint

[Brexit] Today officially marks the first day of the EU bloc without the United Kingdom being a part of it. In what has been quite a turbulent time since the 2016 referendum result, Boris Johnson’s last-minute Brexit deal avoided chaos to some extent. Meanwhile, the Scottish First Minister plans on bringing an independent Scotland back into the EU. 

Over60: BBC

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