Business News – 11-18-2021

Blue Origin raised offer to cover $3B in lunar lander costs in lost NASA lawsuit 

  • An offer by Jeff Bezos’ Blue Origin to cover NASA costs of an astronaut lunar lander increased from $2 billion to upwards of $3 billion
  • Bob Smith, the CEO of Blue Origin said that the company would “add valuable competition” and help in covering NASA’s “budget and funding shortfall” for the program that led to the agency selecting just one company for the HLS contract

Roblox and Nike strike deal to create virtual world called “Nikeland”

  • On November 18, Nike announced that it is partnering with Roblox to create a virtual world called “Nikeland” on Roblox’s gaming platform online
  • In this virtual gaming space, it will include Nike buildings, fields, and arenas for players to compete in multiple mini-games
  • The company eventually plans to integrate in-play moments that emulate global sporting event

Amazon and Starbucks open chashierless coffee shop showcasing new technology

  • In midtown Manhattan, New York, Starbucks is opening a pick-up cafe with Amazon that utilizes cashierless technology
  • The first Starbucks Pickup with Amazon Go location opens Thursday in New York City on 59th Street, between Park and Lexington Avenues, with a flag outside waving both companies’ logos
  • Amazon’s technology allows customers to leave without seeing a cashier and scales, cameras and shelf sensors tally up customers’ totals and charge them when they leave 

GlobalFoundries and Ford partner to increase supply of chips for vehicle production

  • Included in Ford’s plans to inrease its short- and long-term supply of semiconductor chips, the company has announced a new partnership with GlobalFoundries
  • This may eventually result in new chip designs specifically for Ford and an increase in the domestic production and supply of chips for the overall automotive industry

CVS plans to close 900 stores in transition to its “digital strategy”

  • On November 18, CVS Health said that it will close about 900 stores over the next 3 years as it transitions to better serving online shoppers
  • The chain has said that it will focus more of its funding towards digital growth and transitioning its stores into a sort of department store for health-care products
  • According to CVS, store closures will begin in the spring of 2022

Ford CEO says EV production to increase to 600,000 by 2023

  • According to Jim Farley, the CEO of Ford, the company plans to increase production capacity of its electric vehicles to 600,000 vehicles
  • Farley expects this mode to make Ford the second-largest US based EV manufacturer in the world, behind tesla
  • Ford’s first three new Electric vehicles are currently the Mustang Mach-E, E-Transit, and F-150 Lightning

By K Buenavista

Mr. Buenavista is a writer that specializes in breaking down complex topics into easy to understand formats that appeal to a wide range of news seeking readers, without missing the important details. He handles a majority of the daily news reporting at Easy-Ad, and has written on many other websites. He resides in Southern California.