Dear Reader,
Welcome to another edition of The Under60 Daily - a brief rundown of the top happenings in the business world, compiled by hand to exclude the clutter and ensure you get up to speed in under a minute.
Don’t forget you will win Under60 merchandise by sharing this newsletter!
[Regulation] Tesla CEO Elon Musk goes to court today to face a shareholder lawsuit where he will defend his role in Tesla’s $2.6 billion acquisition of SolarCity. Shareholders have sued Musk and members of the Tesla board, alleging that the 2016 deal amounted to a SolarCity bailout.
Over60: CNBC
[Covid] The rapid spread of the Delta coronavirus variant is causing economists to worry that Europe’s brightening economic outlook risks being undermined by rising infection levels and the reintroduction of travel and social restrictions. On Friday, the Netherlands said it would reintroduce restrictions on restaurants, bars, cafés, nightclubs, and live events — only two weeks after lifting them.
Over60: F.T.
[IPO] Flipkart said that it had raised $3.6 billion at a post-money valuation of $37.6 billion in what is widely believed to be the pre-IPO round for the Indian e-commerce conglomerate as it works to list in the public markets as soon as early next year.
Over60: TechCrunch
[M&A] Microsoft Corp. said it has agreed to acquire RiskIQ, a security software maker, as the tech giant tries to expand its products and better protect customers amid a rising tide of global cyberattacks. Microsoft is paying more than $500 million in cash for the company. San Francisco-based RiskIQ makes cloud software for detecting security threats, helping clients understand where and how they can be attacked on complex webs of corporate networks and devices.
Over60: Bloomberg
If this was forwarded to you, subscribe here.
We thrive on subscriber feedback. Feel free to reach out to us on Instagram!
Happy Friday,
Team Under60