Under60 Daily | 21 December 2020

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.

Programming note: Under60 has switched to a new mail delivery system called Substack. If you spot any errors please get in touch with us.

[Stimulus] The U.S. Congress agreed on a $900 billion stimulus package signed by President Donald Trump on Sunday. As a part of the package, Americans earning up to $75,000 are expected to receive a $600 stimulus check. $284 billion will also be directed towards the Paycheck Protection Programme (PPP). 

Over60: The New York Times

[Manufacturing] Wistron Corp, a supplier of Taiwanese Apple Inc, was placed on probation by Apple Inc on Saturday, December 19th, after its factory in Karnataka, India, was damaged by workers disgruntled over unpaid wages.

Over60: Times of India

[Markets] Tesla was officially entered into the S&P 500 today, December 21st. Valued at $600 billion, Tesla is the largest company to be added to the S&P 500. Index funds designed to mirror the holdings of the S&P 500 are expected to purchase more than $80 billion of the company's stock before trading went live on Monday.

Over60: NBC News

[Markets] Amid the uncertainty of Brexit, a new strain of COVID-19 is being reported in the U.K. and South Africa. Global markets tumbled on Monday morning. British Airways parent company IAG saw its share price drop by 10% as an increasing number of countries banned flights from the U.K. Similarly, the Pound dropped against the dollar by 2.3%, touching $1.32 per Pound. 

Over60: FT, The Guardian

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