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.
[Debt] US Treasury Department to increase auction sizes across its debt offering across all tenors this quarter (notably 7, 10, 20, and 30-year bonds) on expectations of borrowing needs to continue to remain elevated amid a surge in federal spending to combat the coronavirus pandemic.
[Regulation] European Commission opens an in-depth antitrust investigation into Google’s $2.1 billion acquisition of FitBit, owing to concerns about the health data the internet giant would acquire as part of this deal.
[IPO] Apollo-backed cloud services firm Rackspace Technology sold shares at the bottom of its expected price band on Tuesday, at $21 per share - a rather disappointing IPO in contrast to the otherwise booming cloud industry.
[M&A] Virtual care firm Teladoc Health to buy rival Livongo in a cash-and-stock deal measured at $18.5 billion. The aim is to create a telemedicine giant, to capitalize on the surge in demand for remote healthcare services as a result of the pandemic.
[Internet Services] Bharti Airtel Ltd partners with Amazon Web Services to expand Airtel’s cloud services and offer a more significant number of products to small and medium-sized enterprises in India. This move comes on the back of a similar deal between Reliance Jio and Microsoft and sees increased competition in India’s cloud services market, which is estimated to reach $7.1 billion in 2024.
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