7th May 2021

The Global Home Purchase Market Is Very Hot

Dear Reader,

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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[Business] India has allowed bidders access to the financial data of Bharat Petroleum Corp. as the government moves ahead with plans to sell its entire stake of 53% worth ₹509 billion ($6.9 billion) in the country’s second-biggest state refiner. 

Over60: Bloomberg Quint, Mint

[Jobs] U.S. employers added a modest 266,000 jobs in April, far short of the 1 million expected among economists, and unemployment rose to 6.1%. The slowdown in hiring signaled a potential loss of economic momentum, at least temporarily, as some businesses struggled to find workers and faced supply-chain issues.

Over60: WSJ, CNBC

[Twitter] Twitter has started rolling out a new Tip Jar feature on its Android and iOS apps, which will allow users to send money directly to their favorite accounts.

Over60: The Verge

[Semiconductors] IBM has revealed what it says are the world’s first 2nm process chips, giving a brief preview of the technology that might eventually power the smartphones, laptops, and gadgets of the future. The big jump here is in transistor count. Compared to today’s 7nm chips, the new IBM technology features dramatically more transistors, thanks to the more compact design.

Over60: The Verge

[M&A] Sonova, a Swiss company best known for its medical audio products like hearing aids and cochlear implants, is buying the consumer electronics division of German firm Sennheiser. 

Over60: The Verge

[Housing] House prices rose by 4.91% across 16 economies monitored by the Federal Reserve Bank of Dallas last year, the sharpest increase since 2006. The move was large by the standards of a normal year—but explosive in the context of a global economic contraction of around 3.3%.

Over60: WSJ

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