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.
[Economy] Europe’s GDP shrinks at a record pace, recording a 11.9% slump in Q2.
[M&A] US chipmaker NVIDIA is in talks to buy British chipmaker ARM from Softbank in a cash-and-stock deal that is valued at more than $32 billion.
[COVID-19] US Government inks deal worth $2.1 billion with Sanofi SA and GlaxoSmithKline PLC to fund the development of a coronavirus vaccine and secure the supply of 100 million doses.
[Earnings - Oil & Gas] US oil giants Chevron and Exxon report second continuous quarterly loss, attributed to the COVID-19 pandemic’s impact on the demand for oil.
[Earnings - Technology] Apple reports Q3 revenue of $59.7 billion, and announces a 4-1 stock split, that will see investors receive three additional shares for each share they
presently hold. On a similar note, Google’s parent company Alphabet beat expectations with $38.3 billion in revenue, but marked its first ever period revenue decline due to reduced advertising spend caused by the Pandemic.
If this was useful to you, subscribe here.
We thrive on subscriber feedback. Feel free to reach out to us here.