Business News – 11-19-2021

Electric aircraft produced by Rolls-Royce breaks record after topping 387 mph

  • According to an announcement on November 19, Rolls-Royce said its all-electric aircraft had reached a maximum speed of 623 km/h or about 387 mph 
  • The “Spirit of Innovation” is the result of a project called ACCEL, or Accelerating the Electrification of Flight 

Build Back Better Act to help sell more EVs with tax credits in Infrastructure bill

  • Within President Biden’s $1 trillion Infrastructure law, $7.5 billion will go to selling more EVs and integrating better EV infrastructure’
  • In the act, tax incentives of up to $12,500 per vehicle  are expected to increase customer demand 

Mensa Brands is now a billion-dollar company just 6 months after start-up

  • A start-up in India called “Mensa Brands” has become profitable within just 6 months after its launch
  • The company is currently the fastest company in India’s history to reach a $1 billion valuation 
  • Mensa Brands operates by acquiring digital-first brands and scaling them domestically and overseas and currently has 12 brands across fashion home and beauty and personal care

Telesat appears on the Nasdaq at $41.52 a share

  • A Canadian satellite communications company Telesat went public on the Nasdaq at $41.52 per share 
  • Telesat’s core growth project is the low Earth orbit broadband satellite network it’s building called Lightspeed

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.