Under60 Daily | 31 July 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.

[Economy] Europe’s GDP shrinks at a record pace, recording a 11.9% slump in Q2.

Over60: FT, Yahoo Money

[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.

Over60: FT, The Verge

[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.

Over60: WSJ, Politico

[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.

Over60: CNN

[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.

Over60: CNBC, CNBC, What is a stock split?

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