Under60 Daily | 26 November 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.

[Private Equity] Indonesia has approached U.S. private equity giants Blackstone and Carlyle to be a part of its new sovereign wealth fund. The Indonesian government aims to raise $15 billion, of which Indonesia will provide $5 billion as seed funding.

Over60: F.T. Exclusive

[Cloud] Amazon Web Services (AWS), the internet infrastructure arm of Amazon, was down for several hours on Wednesday morning in North America. The company did not announce a reason for the outage but hinted at increased error rates.

Over60: The Verge, TechCrunch

[M&A] Marc Benioff's Salesforce is holding preliminary talks with Slack over a potential acquisition. Slack's share price soared by 22% after the news broke. An announcement is expected next week from both parties.

Over60: Business Standard

[Stimulus] Rishi Sunak's U.K. government spending review has revealed that the government borrowing for this year would touch £394 billion. The chancellor also announced that unemployment during the second quarter of 2021 could touch 7.5%.

Over60: Bloomberg Quint

[Cryptocurrency] The price of Bitcoin crashed by 13% on Thursday, after touching an all-time high of $19,510 per coin. Other cryptocurrencies slipped by double-digit figures as well. The crash was attributed to traders' profit-booking, although many analysts are still bullish on the crypto's long-term prospects.

Over60: Economic Times

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