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.
[Oil and Gas] BP shares have hit a 25-year low, just days after announcing its new strategy and goal of being a zero-emissions company. The company plans on reducing oil and gas production by 40%, among other plans.
Over60: Bloomberg Quint
[Telecommunication] Vodafone Group Plc won its arbitration case against the Government of India over its retrospective tax concerns. The Permanent Court of Arbitration at The Hague ordered the Indian Government to cease seeking dues from the takeover of Hutchison Whampoa in 2007.
[Automobiles] U.S. based Harley Davidson has announced that it will close its manufacturing plants and reduce sales staff in India. The move comes as Harley Davidson tries to implement a global restructuring plan.
[Gaming] Amazon has entered the gaming industry with its new subscription service ‘Luna’. Luna is a cloud based service offering select games on demand that can be played on PC, tablets and phones. The $5.99 a month service is expected to take on Microsoft, Sony and Google.
[Fixed Income] Investors have withdrawn nearly $4.7 billion from US high yield bond funds in the week ending September 23rd, the worst outflow from the peak of the coronavirus market crash in March 2020.
Over60: FT (Exclusive)