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.
[IPO] Airbnb confidentially filed for an IPO with the SEC, looking to debut on the markets by the end of the year. Airbnb has also seen a surge in demand for local rentals as holidaymakers opt for weekend rentals than hotels.
Over60: Business Standard
[FinTech] Wirecard will no longer be a constituent of Germany’s blue-chip index DAX. In June, the company admitted that cash worth €1.9 billion was missing due to accounting irregularities and subsequently filed for insolvency.
[U.S. Fed] Federal Open Market Committee (FOMC) members remain skeptical of the U.S. economy, stating that the pandemic would continue to stunt growth and pose severe dangers to the financial system. The FOMC said they would keep the overnight borrowing rates between 0% - 0.25% until they are confident that the U.S. economy is on track to achieve target employment and price stability figures.
[Technology] Apple becomes the first US company to hit a market capitalization of $2 trillion. It took the company just two years to double in value and was also the first US company to hit a $1 trillion valuation previously.
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