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] Amazon unveils a new palm reading payment system called Amazon One. The device will allow shoppers to pay with their credit card and skip the line, a technology it expects to sell to retailers, offices and stadiums.
[Airlines] United Airlines pilots’ union have agreed to a schedule reduction with the company to avoid the planned furloughs of 2,850 pilots, starting Oct. 1. Regardless, the company plans to reduce its workforce by 13,000 people, similar to American Airlines, which has announced a 19,000 workforce reduction.
[Telecommunications] Japanese telecom giant NTT will buy out and take its mobile unit NTT DoCoMo private in a deal worth around $38 billion. As of Mar. 31, NTT owned nearly 66% of DoCoMo.
[IPO] Allegro’s IPO will make it the largest-ever IPO in Poland and make the company the most valuable public company in the country, valued at roughly $11 billion. The eCommerce company plans on using the proceeds to reduce its debt.
Over60: Bloomberg Quint
[Retail] High rates of bricks-and-mortar store closures are expected to continue in the U.S., with nearly 6000 stores having closed in 2020 so far. According to global market-research firm Coresight Research, this number is expected to reach 25,000 stores by the end of 2020