Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute.
[M&A] Salesforce will purchase the workplace-chat app Slack for $27.7 billion. The cash and stock transaction will be the largest in the industry, wherein Slack investors will get $26.79 in cash and 0.0776 shares of Salesforce.
[Inflation] Market expectations for U.S. inflation have touched an 18 month high due to COVID vaccine developments. The 10-year rate touched 1.83%. However, analysts expect U.S. inflation to be above the Fed’s 2% target in the short term.
[Football] More than 20 private equity firms are considering investing €300 million in Germany’s top football league, Bundesliga. The investment aims to create a global access online streaming platform for football games. Revenues from streaming would then be distributed to clubs to help shore up finances hit by the pandemic. Nomura has been appointed to scout for potential offers from PE firms.
[Technology] Hewlett Packard Enterprise, one of the original silicon valley success stories, stated it is relocating its headquarters out of the San Francisco Bay Area to Houston, Texas. HP is one of the first large tech companies to announce its exodus from silicon valley to pursue cheaper real estate and less competitive workers.
[GDP] Australia’s GDP grew by 3.3% in Q3, officially exiting its first recession in over 30 years. The most significant contributor to the growth was a boost in household spending. Analysts predicted a 2.6% GDP growth for the quarter.