Adobe Analytics says Cyber Monday online sales have dropped by 1.4% from last year

• According to information from Adobe Analytics, this year’s Cyber Monday sales marked a 1.4% decrease from 2020 to $10.7 billion 
• So far, from Nov. 1 through Cyber Monday, consumers in the United States have spent $109.8 billion online, which is up 11.9% year over year
• Adobe anticipates digital sales from Nov. 1 to Dec. 31 will hit $207 billion, which would represent record gains of 10%

SpaceX staff told that Starship crisis creates bankruptcy risk by Elon Musk

• In a company-wide email, Elon Musk wrote, “The Raptor production crisis is much worse than it seemed a few weeks ago,”
• These raptor engines that are in development will power the company’s Starship rocket but if they are not developed in time, Musk says that the company faces a “genuine risk of bankruptcy…”

BMW unveils its XM hybrid-electric concept vehicle aimed towards high-performance 

• On November 29, BMW unveiled its high-performance concept vehicle that showcases an electrified crossover 
• The vehicle is expected to begin US production as soon as late 2022 in South Carolina
• This new vehicle is called the BMW XM and will be available exclusively as a plug-in hybrid electric vehicle 

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Nissan plans to invest $17.6 billion over 5 years towards EVs

• Over the course of 5 consecutive years, Nissan plans to invest about 2 trillion yen or $17.6 billion US into efforts related to electric vehicles
• On November 29, Nissan said that the company would aim to roll out 23 new electric car models by 2030, and 15 of which will be fully-electric
• The firm is also planning to introduce all-solid-state batteries, or ASSB, to the market by 2028

Box office sites crash as demand for Spider-Man: No Way Home tickets surge

• At 12 AM EST, tickets for Marvels “Spiderman: No Way Home” film went on sale and the amount of ticket requests crashed domestic box office sites
• Box office analysts say that this amount of anticipation for a film has not happened since 2019 when advanced ticket sales for Avenger’s Engame and Star Wars: The Rise of Skywalker came on sale

Price of oil increases after experiencing heavy losses Nov. 26

• On November 29, oil prices increased which helped to recoup part of the heavy losses on Friday, November 26
• The incitial drop in price was prompted by fears that teh new omicron Covid variant would curb demand for petroleum products
• West taxas Intermediate crude futures gainied about $2.72 (4%) on November 29, to trade at $70.87 

Lululemon files patent lawsuit against Peloton for copying sports bras and leggings designs

• In a growing feud over the designs of its sports bras and legging, Lululemon has filed a patent lawsuit against Peloton
• On November 29, in the case filing, Lululemon said it is seeking control against Peloton’s infringement of its intellectual property rights
• Peloton has said that its own athletic apparel merchandise is easy to decipher from Lululemon’s but there is still much debate as Lululemon says Peloton has infringed on 6 of its patented designs

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• Authentic Brands Group has canceled its plans for an IPO and instead has planned to sell significant equity stakes in its business to private equity firm CVC Captial, and other current shareholders which value the company at $12.7 Billion
• The CEO of Authentic Brands, Jamie Salter said that that the company will move its IPO target date to 2023 or 2024 

Electric boating start-up, Pure Watercraft sells 25% share to GM

• On November 22, General Motors acquired a 25% share of Pure Watercraft, a start-up that makes fully electric outboard motors for all kinds of boats
• With this investment, General Motors will become a supplier for Pure watercraft and a co-developer of fully electric boating products

Shares of Astra increased by 30% after the company reached orbit successfully

• A rocket-building company called Astra has its stock surge by 30% in trading on Monday after the company reached orbit for the first time on November 20
• Astra’s rocket LV0007 launched from the Pacific Spaceport Complex in Kodiak, Alaska
• Astra is currently trading at $11.39, up from its previous price of $9.53

Target to keep its stores closed on Thanksgiving going forward

• In an announcement from Target, the company will no longer open its stores on Thanksgiving Day and will make a permanent shift to the unofficial start of the holiday season
• On November 22, Target said its distribution and call centers will have some staff on thanksgiving Day but stores will remain closed

More visa-holders will be allowed back into Australia as it recovers from a skills shortage

• Taking place on December 1, Australia will allow eligible vis shoulders to enter without needing to apply for a travel exemption 
• This announcement was made on November 22 by Prime Minister Scott Morrison and he says that those eligible include: skilled workers, students, and refugees

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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

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• 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

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Biden Administration holds oil and gas lease sale in the Gulf of Mexico

• On November 17, the Biden Administration opened more than 80 million acres to auction for oil and gas drilling in the Gulf of Mexico
• This sale is a major reversal of Biden’s commitment to shut down any new oil and natural gas leases on public lands or waters

Lakers’ Staples Center naming rights now belong to Crypto.com in a $700M deal

• In December, the Staples Center will be renamed for Crypto.com in a $700 million deal for the naming right to the home arena of the Los Angeles Lakers
• This change is expected to come on Christmas Day and Crypto.com wanted this deal to increase brand awareness as the platform positions itself to capture market share in the growing digital currency space

Yogurt sales rise as Chobani filed to go public through IPO

• On November 17, Chobani, a Yogurt and oat milk manufacturer filed to go public on the Nasdaq exchange under the symbol “CHO”
• According to Chobani, the company’s revenue has grown 5.2% to $1.4 billion from 2019 to 2020

Labor market fins that more retirees are “unretiring” and coming back into the workforce

• The rate at which retirees switch from retirement status to employment has been increasing, according to an economist named Nick Bunker at Indeed
• Early retirements had increased during the pandemic but it isn’t clear if this will be permanent or temporary

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• Peter Rawlinson, the CEO of Lucid thinks that there’s a bright future for the company and believes that the start-up’s stock and market cap will surpass tesla and other automakers
• Currently, Lucid’s market cap is around $73 billion and is approaching the market cap of Ford at $79.4 billion

New report says Walmart topped its earnings estimates despite rising inflation 

• For Walmart’s third-quarter fiscal earnings, it topped the expectations of analysts as grocers looking for deals came to its stores during a time of rising costs for household goods
• Inventory for Walmart in the U.S. is up 11.5% ahead of the busy shopping season, Doug McMillon, the CEO of Walmart, said

After offering 23.9 million shares at $46 each, Peloton nets $1 billion

• On November 16, Peloton says that it plans to sell about 23.9 million shares of its Class A common stock at a price of $46 a share which has netted the company about $1.07 Billion
• In its announcement Tuesday, the connected fitness equipment maker said the proceeds would be used for general corporate purposes like construction and investment in new products

Oil giant, Shell plans to move its headquarters to the UK

• In an effort to simplify the company’s structure, Royal Dutch Shell will soon ask shareholders to vote on shifting its tax residence from the Netherlands to the UK
• In addition to this, Shell wanted to eliminate its dual share structure in favor of just one class of shares

United States plans to sell crypto worth $56 million after record seizure in fraud case

• As a part of a large Ponzi scheme case against a man who promoted a crypto lending program “BitConnect”, the US Justice Department will sell $56 million worth of seized crypto
• According to authorities, the liquidation of this cryptocurrency follows “the largest single recovery of a cryptocurrency fraud by the United States to date.” 

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To fund improvements at field, Green Bay Packers will sell $90 million of stock in NFL team

• The Green Bay Packers plans to sell $90 million worth of shares in the football team in order to help fund improvement sat the Lambeau Field 
• The offering of 300,000 shares will begin at 9 a.m. ET, Tuesday, with a price of $300 per share, the Packers said in a statement Monday
• According to the team, about 361,300 shareholders have approximately 5,009,000 shares of the Green Bay Packers

Businesses must start vaccine mandates until they are canceled says Chamber of Commerce

• The vice president to the US Chamber of Congress employment policy, Marc Freedman, has said that businesses should treat the vaccine mandates until a court overturns them
• The requirements were halted in the US Court of Appeals for the Fifth Circuit on November 6

Restaurant Brands International buys out Firehouse Subs for $1 billion

• The parents to the fast-food chain, Burger King, Restaurant Brands International has announced on November 15 that it bought Firehouse Subs for $1 billion 
• Over the course of 2021, the stock has dropped 4%, which gives it a market value of $27.1 billion but rose 1% after the news was announced
• Restaurant brands International currently owns Popeyes Louisiana Kitchen, Tim Hortons, Burger King, and now Firehouse Subs

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• Shares of Disney have continued to be negative for this year in 2021 and remain behind the S&P 500 Index Return
• As Disney’s3rd quarter earning swerve announced, it shows that streaming subscriber additions slowed down and costs for its content and Parks business rise

GM aims to produce vehicle-based on Hummer EV for the US military in 2022

• According to company officials from General Motors, the eLRV from GM Defense is expected to be based on the company’s Hummer EV
• The new vehicle will use and change components of the Hummer EV like the motors, frame, and the automaker’s “Ultium” batteries starting in 2022

Major fast-food restaurants affected by labor shortages 

• For the entire fast-food industry, the unemployment rate fell by 7% in September 2021, while food services and drinking establishments added almost 120,00 new jobs during the same month 
• Fast-food chains like Burger King and Taco Bell have reported that the lack of workers is causing restaurants to cut back open hours and some menu items

Past GM factory of Lordstown Motors bought out by Foxconn for $230 million

• By the end of April 2022, Foxconn plans to sign a contract to assemble Lordstown Motors’ first vehicle, an all-electric pickup truck named the “Endurance”
• Both companies benefit as EV start-up Lordstown Motors get desperately needed capital, and Foxconn gets to go into the EV space by producing fully electric trucks
• After the news, shares of Lordstown rose more than 13%

Elon Musk has sold more than 3.5 million shares of Tesla stock valued at over $3 billion

• In a series of trades that happened on November 8 and 9, Elon Musk sold more than 3.5 million shares that are worth over $3.88 billion
• Filings show that Musk had planned to sell a block of Tesla shares set in motion on September 14, 2021
• Musk still currently holds over 166 million shares in Tesla 

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• On November 10, SpaceX will launch the Crew-3 mission for NASA which marks the company’s 5th crewed mission in the past 18 months
• The crew are set for liftoff at 9:03 om ET at NASA’s Kennedy Space Center in Florida with the astronauts set to arrive at the International Space Station on the evening of November 11

GM CEO says Rivian IPO proves that company stock is undervalued

• The CEO of General Motors, Mary Barra on November 10 said that the valuations of electric vehicle start-ups such as Rivian prove that GM’s stock is undervalued
• Initially, Rivian’s stock traded at $106.75 a share, which is a 37% increase from its IPO price of $78 a share with a market valuation of $91 billion
• Currently, General Motors trades around $60 a share with a market cap of $86.4 billion

To integrate Workplace interaction, Meta and Microsoft announce a partnership

• Microsoft and Meta, the company formerly known as Facebook announced a partnership that will allow customers to integrate Workplace with Microsoft teams
• This integration gives customers access to Workplace content inside the Teams app, and users can use Teams video meetings in the Workplace app

Pilots at American Airlines union reject holiday bonus pay and seek change

• To avoid more mass cancellations, American Airlines is offering bonus pay for its branches for working during holidays
• For working holiday trips, Flight attendants could get up to triple pay for working and having a perfect attendance
• An offer of 50% more pay for pilots was turned down for peak trips and they say the airline needs to make more permanent changes to scheduling

British Airways and Southwest fuel deals result in shares of Velocys surging 40%+

• On November 10, shares of Fuels technology firm, Velocys rose by more than 40% just after its announced two deals that related to aviation fuel supply
• These new deals are related to a planned biorefinery plan in Missisippiwith Southwest and are set to buy about 219 million gallons of sustainable aviation fuel across 15 years

Beyond Meat sale in US are disappointing and causes the stock to plummet

• In an announcement on November 10, Beyond Meat reported a deepening loss in its 3rd sales quarter as US demand for its meat substitutes went down 
• Investors in the company were also disappointed with Beyond Meat’s 4rth quarter outlook, which indicates that sales are not expected to come back to normal levels

Royal Caribbean CEO reports considerably strong summer booking and Covid debt plans

• In an interview with a media company, the CEO of Royal Caribbean, Richard Fain said that the company is seeing historically strong bookings for the summer of 2022
• Fain also said that the cash flow will be needed to pay down the debt that was built during the pandemic, to reinvest in their technology, and reinvest in their sustainability efforts

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