• 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

The post Business News – 11-22-2021 appeared first on Easy Ad - Local Small Business Resources.

• Ford is delaying customer deliveries of certain Bronco SUVs and Mustang Mach-E crossovers due to manufacturing issues
• The delays are due to a roof problem on the Bronco SUV and a shortage of semiconductor chips for the Mustang Mach-E crossover

Bill gates claims he will give $1.5 billion towards climate change projects if Infrastructure bill passes

• On August 12, Microsoft’s co-founder Bill Gates pledged to give $1.5 billion for projects to combat climate change only if the infrastructure plan is passed by Congress
• Currently, the $1.2 trillion infrastructure bill has not yet passed through the House 
• $24 billion of the infrastructure bill is set aside for climate-focused demonstration projects 

Ninety percent of US counties now align with CDC COVID-19 indoor guidelines

• According to the CDC Director, Dr. Rochelle Walensky on August 12, she said that more than 90% of US counties now experience high or substantial rates of Covid transmission
• The average number of daily Covid vaccinations tripled in Arkansas and quadrupled in Louisiana, Alabama, and Mississippi over the past month

Authentic Brand Group and Adidas reach deal to transfer Reebok brand

• Adidas’ struggling athleticwear and sneaker company “Reebok” is now being sold to Authentic Brands Group
• Authentic Brands Group already owns many bankrupt brands such as Aeropostale, Forever 21, and Brooks Brothers
• The acquisition of Reebok s expected to close in the first quarter of 2022 as Adidas announces in a news release 

The post Business News – 08-12-2021 appeared first on Easy Ad - Local Small Business Resources.