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.
[Aerospace] Boeing on Sunday told airlines to stop flying its wide-body 777 aircraft equipped with a type of engine that broke apart during a flight over the weekend near Denver, as the Federal Aviation Administration said would order immediate inspections of those jets. Boeing and regulators have narrowed the issue to Pratt & Whitney engines found on 128 of all 777s in service.
[Streaming] Riding a big wave of stay-at-home streaming usage, Roku boosted revenue in the fourth quarter 58%, to a record $649.9 million — and posted a $65.2 million net profit for the quarter, whereas Wall Street had expected a loss.
[IPO] Cryptocurrency exchange Coinbase was valued at just over $100 billion in a recent private market share sale ahead of its upcoming public listing. Coinbases’s planned IPO could have a higher initial valuation than any other U.S. tech company since Facebook. Stripe, another venture capital sweetheart, was recently valued at a $115 billion valuation in secondary markets. That valuation is up more than threefold from the $36 billion Stripe fetched when it raised money in April 2020 from venture firms including Andreessen Horowitz, General Catalyst, and Sequoia.
[Trade] India on Monday signed a landmark Comprehensive Economic Cooperation and Partnership Agreement (CECPA) with Mauritius, the first of its kind with an African nation, making the strategically-located country a launch-pad for business expansion into the huge African continent.
Over60: Business Standard
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