• 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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• 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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• On September 10, Kroger announced that the company had seen many favorable trends in their fiscal second quarter as shoppers are buying more groceries
• Despite a strong fiscal second quarter, Kroger investors have expressed their concern about the supermarket operator’s margins as they deal with inflation, theft, and other supply chain costs

General Motors cuts production for 200,000 vehicles in second half of 2021

• According to General Motors, the company expects to cut production for about 200,000 vehicles in North America during the second half of the year
• The production cut is 2 times the 100,000 units that were originally expected to be cut when GM reported its second-quarter earnings in August

Epic Games case ruling shows Apple cannot force developers to use in-app purchasing

• On Friday, September 10, Federal Judge Yvonne Gonzalez Rogers ruled that Apple will no longer be allowed to restrict developers from having their own in-app purchasing
• Before this ruling, Apple took a 15% to 30% cut of gross sales made by app developers

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• In 2021, General Motors commercial electrical vehicle business BrightDrop plans to ass a second van to its lineup and the first customer for the midsize commercial van will be Verizon Communications
• This new product follows behind the first production models of BrightDrop’s large van named the EV600 which has been made for FedEx

Over 400,000 Americans have received the COVID-19 booster according to White House

• According to the White House coronavirus response coordinator, Jeff Zients on September 28, he says that more than 400,000 Americans have received the booster
• In addition to this, Zients added that Nearly 1 million Americans have already scheduled to receive the Pfizer and BioNTech’s booster in the coming weeks

Founder of Kind along with former executives team up to launch Mexican food brand, Somos

• Daniel Libetzky, the founder of Kind, along with Miguel Leal and Rodrigo Zuloaga are teaming up to launch an Mexican food brand called Somos
• This food brand will not feature any meat, gluten or GMOs, and aims to be more authentic to traditional Mexican cuisine 

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• On October 26, General Motors unveiled a high-performance Z06 version of the Chevrolet Corvette set for 2023
• The car is track-focused and will be powered by a new 5.5-liter V-8 naturally aspirated engine with a 0-60 mph or 2.6 seconds

Blue Eden project worth $2.35 billion plans underwater turbines for the UK

• Just recently, a project known as the Blue Eden project will be incorporating underwater turbines and floating solar power and battery storage in the UK
• The project will be located on the waterfront of a coastal city in Wales named Swansea and is being led by a technology firm called DST Innovations 

Verizon and Amazon partner to use satellite internet systems for rural broadband

• To expand broadband access in the United States, Verizon is partnering with Amazon to use the satellite internet system that is under development
• For Amazon, Project Kulper is a network of 3,236 satellites that it plans to use to provide high-speed internet to anywhere in the world 

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• Elon Musk’s SpaceX completed two test firings of the engines on its Starship 20 prototype on October 21
• SpaceX is preparing for the rocket’s first orbital launch while the Federal Aviation Administration reviews its license request

GMC Sierra Denali and AT4X pickups unveiled by General Motors

• General Motors is transitioning its GMC Sierra 1500 pickup truck upmarket with two high-end models which include the Denali Ultimate starting at $80,000+
• The other new model is called the AT4X, which is a more luxurious and off-road capable pickup  than the current AT4, which starts at $74,995

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• The shutdown of GM’s Chevrolet Bolt EV has been extended at their Michigan production plant as they work with battery supplier LG Chem to fix manufacturing defects
• The Orion Assembly plant will be shut down for the week of September 13 through September 20

US sailings increased by Cruise lines despite delta variant threat to bookings

• Despite CDC warnings for those at-risk to stay away from cruises regardless of vaccination status, cruise operators continue to announce more sail dates
• According to a survey by Morgan Stanley,this points to a significant slowdown in demand for cruises 

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• Elon Musk’s SpaceX has disclosed new details about their plan for the next generation Starlink satellites on August 18 in federal filings
• SpaceX also want to use their Starship rocket as the primary vehicle to deliver the spacecraft into Earth’s orbit
• This new design will add a significant amount of weight to the satellites and be able to generate more power than it had been able to initially

Covid antibody treatment centers open in Texas and Florida

• Regeneron’s treatment was granted an FDA emergency use authorization in November
• Regeneron claims it was able to reduce Covid hospitalizations “in patients at high risk for disease progression within 28 days after treatment.”
• GlaxoSmithKline has won emergency approval for its treatment with Vir Biotechnology in May, reporting that they reduced hospitalizations and death in high-risk patients by 85%

AT&T’s 5G connectivity to come to GM vehicles in 2023

• General Motors has plans to sell vehicles equipped with AT&T’s 5G cellular connectivity starting in 2023
• The higher speed network is expected to enable greater connectivity for in-vehicle systems such as infotainment, navigation, and most importantly, over-the-air software updates.
• The automaker expects 5G to be in millions of its vehicles in the next decade

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• Legacy automakers like Ford and General Motors have been forced to cut production of vehicles due to the semiconductor chip shortage this year
• Ernie Garcia, the CEO of Carvana has said that the high used car prices will not start to fall until automakers can get production back to normal levels
• In the second quarterof 2021, that average transaction price for a used car was $25,410 which is a 21% year-over-year increase

Employees at Frontier Airlines will now be required to get vaccinated or take regular tests

• Along with United Airlines’ announcement vaccination mandates for their U.S. staff, Frontier Airlines have said their workers will have until October 1 to show proof of vaccination or regularly test negative
• Due to the rapid increase of delta variant Covid cases, Frontier Airlines has decided to issue this new mandate

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