4th January 2021

Jack Ma's disappearance sparks uncertainty for Chinese business leaders

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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.

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[China] E-commerce company Alibaba’s founder, Jack Ma, has not been seen publicly in more than two months. Ma’s business empire, Ant Group, has been under scrutiny by Beijing ever since Ma delivered a controversial speech in Shanghai on 24 October that criticized China’s regulation system for stifling innovation and likened global banking rules to an “old people’s club.”

Over60: Yahoo! Finance

[Markets] Activist investor Carl Icahn sold roughly $600 million of his 16% Herbalife stake to the company. The move helps cement a big win for Carl Icahn, who is estimated to have made well over $1 billion on the investment.

Over60: WSJ, Reuters

[M&A] Quibi, the streaming company that shut down late last year, is in advanced talks with Roku Inc. to sell its entire content catalog to them. Roku is a U.S. based company that makes media players, which turn standard TVs into smart TVs.

Over60: WSJ, The Verge

[Automobiles] Tesla delivered a record 499,550 in 2020, falling shy of Musk’s goal of shipping 500,000 cars worldwide by the end of the year.

Over60: The Verge

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