Top 5 US Business News Stories of the Week
Over the past week, there have been several notable developments in the world of US business. From technological advancements to mergers and acquisitions, the business scene in the United States is dynamic and ever-changing. In this article, we highlight the top 5 US business news stories of the week.
1. Apple Announces a New Subscription-based Fitness Service
Apple, one of the world’s leading technology companies, announced last week that they are launching a new subscription-based fitness service called “Fitness+”. The new service will provide personalized fitness recommendations, tracking, and exercise videos using the Apple Watch and other Apple devices. The service will be available for $9.99 per month or $79.99 per year, and will be accessible from September 2020.
2. Facebook Announces Major Changes to its Business Platform
Facebook recently announced that they are introducing new changes to their business platform. These changes include a new feature called “Shops,” which allows businesses to set up online storefronts within Facebook and Instagram. The feature also allows for convenient checkouts, and businesses can sell their products directly through the platforms.
3. Amazon Plans to Open 1,000 Delivery Hubs in Cities and Suburbs
Amazon, the largest online retailer in the world, announced plans to open 1,000 small delivery hubs in United States cities and suburbs. The move is expected to help the company reduce delivery times while also creating thousands of jobs. The delivery hubs will be located in smaller warehouse spaces in urban areas and will be closer to customers, making same-day delivery more efficient.
4. Tesla to Raise $5 Billion Through Stock Offering
Tesla, the electric car company founded by Elon Musk, recently announced plans to raise $5 billion through a stock offering. The company aims to use the funds to strengthen its balance sheet and accelerate its growth plans. The announcement comes just a few months after Tesla announced a profitable quarter, despite the COVID-19 pandemic.
5. Bristol-Myers Squibb Completes $13.1 Billion Acquisition of MyoKardia
Bristol-Myers Squibb, a leading pharmaceutical company, recently completed its $13.1 billion acquisition of MyoKardia, a biotechnology company focused on developing drugs for cardiovascular disease. The acquisition will help Bristol-Myers Squibb expand its cardiovascular portfolio, including treatments for heart failure and high blood pressure.
Conclusion
In summary, the US business scene is filled with exciting developments and changes, as seen in the top 5 news stories of the week. From Apple’s latest subscription-based fitness service and Facebook’s latest business platform changes to Amazon’s delivery hub strategy, Tesla’s stock offering, and Bristol-Myers Squibb’s acquisition of MyoKardia, it’s an exciting time to be observing the world of business!
