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Under60 Daily | 21 September 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.



[Markets] Global markets saw a mass sell off, particularly in banking and travel stocks due to fears of a second lockdown in Europe amid a sharp uptick in COVID-19 cases.

Over60: FT [Exclusive]

[Corporate Governance] Nikola founder, Trevor Milton, has voluntarily stepped down as the Executive Chairman and as a member of the Board effective immediately. The move comes as short selling firm Hindenburg Research accused Nikola of making false statements. Nikola’s shares dropped by nearly 16% at the time of writing this newsletter.

Over60: CNBC

[M&A] Microsoft has agreed to acquire ZeniMax Media, the parent company of Doom and Fallout studio Bethesda Softworks, for $7.5 billion in cash. As Microsoft is gearing up to launch two new consoles it is unclear how this acquisition will affect the launches for future Bethesda games across different platforms.

Over60: The Verge

[Commodities] The world’s largest producer, consumer and importer of Pork - China - has nearly exhausted its reserve of frozen Pork, sending spot prices of the meat soaring. The price rise also comes as African Swine Fever severely reduced the industry’s supply.

Over60: FT [Exclusive]

[Banking] Shares of HSBC dropped to its lowest level since 1995 as allegations against the bank for money laundering rise. The allegations state that HSBC allowed fraudsters to transfer money around the world in 2013 and 2014, despite having knowledge of this.

Over60: BBC



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