The business world never sleeps, and there is always something happening. In this article, we will be discussing the top 5 happenings in 13 June business news – a quick roundup of all the notable events that took place on that day.
1. Microsoft Acquires Nuance Communications
On 13 June, Microsoft announced its acquisition of Nuance Communications for $19.7 billion. Nuance is a leading AI and speech recognition technology company, and Microsoft aims to use its expertise to boost its cloud offerings and healthcare technology. The move will also help Microsoft compete with tech giants like Google and Amazon.
2. Bitcoin Falls after Elon Musk’s Tweets
After Elon Musk’s comments about Bitcoin and Tesla’s decision to stop accepting it as payment, the cryptocurrency’s price fell by around 5%. This news sent ripples through the entire cryptocurrency market, causing many other coins to drop in value as well.
3. FedEx Raises Earnings Forecast
FedEx, the courier delivery services company, raised its earnings forecast for the current fiscal year. With the pandemic altering the way people shop and work, FedEx has seen a surge in demand, especially since the rise of e-commerce. The company now expects its adjusted earnings per share to range from $20.50 to $21.50, up from its previous forecast of $17.60 to $18.20.
4. China Invests in Vaccine Production
China has been investing heavily in vaccine production to combat COVID-19. The country now has five vaccines that have been approved for emergency use and 12 others in clinical trials. With the pandemic still raging in many parts of the world, China’s efforts could help speed up the vaccine distribution process on a global scale.
5. AMC Entertainment Holdings Gains Amidst Meme-Stock Mania
AMC Entertainment Holdings, the movie theatre chain, has been enjoying a wild ride amidst the meme-stock mania. The company’s stock has been surging in value as retail investors on forums like Reddit and Twitter continue to pour money into it. AMC’s stock price has gone up by over 2,400% since the start of the year, which has taken many seasoned investors by surprise.
Conclusion
13 June had plenty of exciting news in the business world, with companies like Microsoft and FedEx making important announcements. On the flip side, there were also some unsettling developments, like Bitcoin’s price drop and the surge in meme-stock mania. Overall, these happenings show how unpredictable and dynamic the business world can be. As we keep an eye on the latest events, we can only hope for more positive news in the coming days.
