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.
[Technology] British electric vehicle start-up Arrival announced that it would go public through a merger with a U.S. blank-check company, CIIG Merger Corp. This continues the trend of increasing SPACs, or special purpose acquisition companies, and will give Arrival an enterprise value of $5.4 billion. Over60: CNBC
[Markets] Turkish stocks and the Lira rallied after the Turkish Central Bank raised its key rate in line with forecasts, fueling hopes President Recep Tayyip Erdogan is making good on a pledge to return to market-friendly policies. The Lira appreciated as much as 2.5% per U.S. dollar after the decision to hike by 475 basis points. Over60: Bloomberg
[Media] AT&T’s Warner Bros. announces that its upcoming ‘Wonder Woman 1984’ film will release both in theaters and on HBO Max at the same time. The move is expected to be in response to the pandemic’s impact on weakened theater ticket sales and an attempt to attract consumers to its new digital platform.
[Economy] U.S. unemployment figures rose slightly last week amid a recent wave in covid-19 cases. Initial claims for unemployment benefits increased to 742,000 from 711,000 the week before.