June, 2020

• 27 June

  Zuckerberg loses $7b as firms boycott Facebook advts

  

  Bloomberg Mark Zuckerberg just became $7.2 billion poorer after a flurry of companies pulled advertising from Facebook Inc.’s network. Shares of the social media company fell 8.3% last week, the most in three months, after Unilever, one of the world’s largest advertisers, joined other brands in boycotting ads on the social network. Unilever said it would stop spending money with ...

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• 27 June

  Tesla sued for airbag malfunction

  Bloomberg Tesla Inc. was sued over a Maryland highway crash last year in which a Model 3’s airbags failed to deploy, leaving a college professor with brain damage. Elon Musk, the company’s co-founder, has touted the Model 3 as the “safest car ever built” with the lowest risk of injury of any vehicle tested by government regulators. The lawyers who ...

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• 27 June

  UK to relax quarantine for travel from France, Spain

  

  Bloomberg Britain said it’s set to relax quarantine requirements for people arriving from countries including France, Greece and Spain. A full list of nations with which the establishment of so-called air bridges will exempt incoming travellers from two weeks of self-isolation will be published next week, the UK government said in a statement. The new regime is be introduced a ...

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• 27 June

  Velodyne in talks to merge with Graf

  Bloomberg Blank-check company Graf Industrial Corp. is in talks to merge with Velodyne Lidar Inc., a deal that would take public the maker of sensors used in self-driving vehicles, according to reports. Graf Industrial is working with an adviser to help raise funding for the potential transaction, said the people, who asked to not be identified because the matter isn’t ...

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• 27 June

  Meat shortages reopen costly path to smaller US plants

  

  Bloomberg When coronavirus outbreaks forced shutdowns at America’s giant meat plants, it quickly created a bottleneck: Farmers had nowhere to sell their animals, while consumers faced shortages and surging prices. New, smaller slaughterhouses could be the antidote to industry concentration, but it’s no quick fix. Opening a slaughterhouse has plenty of hurdles. The facilities — where animals are killed, butchered ...

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• 27 June

  Stay home, let the robots 3D print the rockets

  

  Bloomberg Vertical agriculture company Plenty Inc. has an unusual selling point: Its crops of arugula, kale and microgreens are grown in an indoor farm run by robots. That hasn’t always been a winning proposition. Two years ago, the company had to scale back an ambitious international expansion plan, realising it wasn’t ready to bear the cost of pricey new markets ...

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• 27 June

  Amazon buys Zoox to veer into self-driving tech

  

  Bloomberg When news broke last month that Amazon.com Inc. was interested in buying Zoox Inc., observers assumed the e-commerce giant was looking to automate its delivery fleet. After all, Amazon already invested in an electric truck maker and is a major buyer of everything from planes to diesel vehicles. But in a statement confirming its acquisition of the autonomous vehicle ...

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• 27 June

  Microsoft all set to close retail stores in digital bet

  

  Bloomberg Microsoft Corp. said it will close its physical store locations permanently but will continue to invest in a digital storefront that, along with third-party retailers, has driven sales of products such as the Xbox game player and Surface tablets. The move will result in a pretax charge of about $450 million, or 5 cents a share, in the current ...

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• 27 June

  Blockchain will let you track salmon from sea to dinner plate

  

  Bloomberg Consumers around the world will soon be able to know intricate life details of salmon they eat with a new blockchain initiative from top exporter Norway. The Norwegian Seafood Association has partnered with International Business Machines Corp. and technology provider Atea ASA to gather data on how salmon is bred, stored and shipped, information that consumers will eventually access ...

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• 25 June

  Oil extends declines over virus resurgence fears

  

  Bloomberg Oil extended declines after swelling US crude stockpiles and a surge in coronavirus cases across the nation raised concerns about demand in the world’s largest economy. Futures in New York slipped 2.3% towards $37 a barrel, after the biggest fall in almost two weeks in the previous session. The fear of new lockdowns sent US gasoline futures tumbling by ...

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