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.
[Trade] India’s exports are down for a 6th straight month owing to declined economic activity due to the Covid-19 pandemic. The exports for August were $22.70 billion, while imports were $29.47 billion.
Over60: Economic Times
[Data Centers] Microsoft reveals that Project Natick, a plan to operate an entire data center underwater, was a success. Storing data centers underwater solve two critical issues with aboveground centers - corrosion from oxygen and humidity and controlling shifts in temperatures.
Over60: The Verge
[Employment] In a stunning contrast to the overall U.S. labor market, Amazon has announced it is hiring 100,000 workers in the U.S. and Canada. The jobs will primarily be in Amazon’s warehouse and delivery operations.
[Valuation] Klarna, the ‘buy now, pay later’ company is now Europe’s most valuable fintech company, valued at $11 billion following its latest funding round worth $650 million. The Swedish firm is expected to IPO in the U.S. in the near term.
[M&A] Opendoor will go public via a merger with Chamath Palihapitiya’s blank cheque company Social Capital Hedosophia II. The cash and stock deal values Opendoor at nearly $4.8 billion.