Welcome to another edition of The 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.
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[M&A] Chat startup Discord Inc. has halted talks to sell itself to potential suitors, including Microsoft Corp, as it resumes interest in a potential initial public offering down the line. Launched in 2015, Discord doubled its valuation to $7 billion in a December funding round.
[Earnings] Netflix reported 208 million global subscribers as of the end of the first quarter, missing its prediction for 210 million. The streaming giant did beat financial targets, though with earnings per share of $3.75 coming in well ahead of Wall Street analysts’ expectations. Revenue of $7.16 billion also topped the Street.
[Tech] Apple launched many new products and product updates at its ‘Spring Loaded’ event. The company unveiled a new subscription podcast service that deepens its competition with Spotify Technology. Upgrades to its iPad and iMac hardware lines were also announced.
[Economy] Italian prime minister Mario Draghi will unveil a €221 ($265.5) billion recovery package next week for a radical restructuring of Italy’s economy as it seeks to bounce back from its deepest recession since the second world war. The plan, which features big-ticket investments in high-speed rail and green energy and fully digitizes the country’s public administration, will draw on the EU’s pandemic recovery fund.
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