In today’s fast-paced business world, staying up-to-date on relevant news and developments is crucial for professionals looking to keep a competitive edge. From changes in market trends to major corporate mergers and acquisitions, keeping track of breaking news can provide insights and inspiration for leaders across various industries. To help you stay informed, we’ve compiled a list of ten must-read business news stories from the past week.
1. TikTok’s Chinese Owners Hiring US Lobbyists to Address Security Concerns
With the ongoing controversy around social media app TikTok’s Chinese ownership, ByteDance, the parent company, has hired US lobbyists to address security concerns and maintain a presence in the country.
2. Google, Facebook, Amazon, and Apple CEOs Testify Before US House Judiciary Committee
The CEOs of four of the world’s largest tech companies appeared before the US House Judiciary Committee to testify on issues of market dominance and antitrust regulation.
3. McDonald’s Sued by Black Franchisees for Racial Discrimination
A group of black franchisees has filed a lawsuit against McDonald’s alleging that the company has engaged in racial discrimination in its franchising practices.
4. IBM to Exit Facial Recognition Business Over Privacy Concerns
IBM has announced that it will no longer develop or sell facial recognition technology due to ethical and privacy concerns surrounding its use.
5. Nikola Motors Accused of Being an ‘Intricate Fraud’ by Short-Seller
Electric truck start-up Nikola Motors is facing accusations of fraud from short-seller Hindenburg Research, prompting an investigation by the US Securities and Exchange Commission.
6. Uber Acquires Postmates in $2.65 Billion Deal
Ride-sharing giant Uber has announced its acquisition of delivery service Postmates, marking a consolidation of the competitive food delivery market.
7. Pfizer and BioNTech Announce Positive Results in COVID-19 Vaccine Trial
Pharmaceutical companies Pfizer and BioNTech have announced positive results in their phase 3 COVID-19 vaccine trial, with early data indicating efficacy of over 90%.
8. Airbnb Files for IPO Despite Pandemic Challenges to the Hospitality Industry
Despite the challenges facing the hospitality industry during the COVID-19 pandemic, home-sharing platform Airbnb is moving forward with plans to file for an initial public offering.
9. Comcast to Launch Smart TVs with Streaming Platform
Cable and internet provider Comcast has announced the launch of smart TVs with built-in streaming capabilities using its new Xfinity Flex platform.
10. Gilead Sciences Reportedly in Talks to Acquire Immunomedics
Biopharmaceutical company Gilead Sciences is reportedly in talks to acquire cancer drug specialist Immunomedics in a bid to expand its oncology portfolio.
Staying informed on breaking business news is vital for professionals across all sectors, and these ten stories provide insights into some of the most significant developments of the past week. From the ongoing tech antitrust hearings in the US to news of promising COVID-19 vaccine trials, these stories offer a glimpse into the complex and ever-changing landscape of modern business. By staying informed on these and other important developments, professionals can make better decisions and stay ahead of the competition.
