On the 15th of June, the business world was hit by several breaking news stories that have dominated the headlines. Here are the top 5 news stories that you need to know about.
1. Amazon acquires MGM for $8.45 Billion
In one of the biggest deals of the year, Amazon has acquired MGM, the famous Hollywood studio, for a whopping $8.45 billion. This move now makes Amazon a major player in the film and television industry, and it is expected to boost the company’s streaming service, Amazon Prime Video.
2. Microsoft acquires Nuance Communications for $19.7 Billion
Microsoft has announced its acquisition of Nuance Communications, a leader in artificial intelligence and speech technology, for a staggering $19.7 billion. Nuance has already been a key partner for Microsoft’s artificial intelligence efforts, including its healthcare cloud, and this acquisition is expected to bolster Microsoft’s capabilities in the healthcare industry.
3. Bitcoin Surges Past $40,000
Bitcoin, the world’s most popular cryptocurrency, has experienced a surge in its value, crossing the $40,000 mark. This is an increase of more than 30% from just a month ago. This rise has been attributed to several factors, including increased adoption by big investors and companies, and the growing acceptance of cryptocurrencies as a means of payment.
4. Uber and Lyft Strike Deal with California Regulators
Uber and Lyft have reached a deal with the California Public Utilities Commission, which will allow them to continue to classify their drivers as independent contractors instead of employees. This is a significant win for the ride-hailing companies, as it avoids the need to comply with new labor rules that would have significantly increased their costs.
5. McDonald’s to Raise Worker Pay
In an effort to attract and retain workers in a tight labor market, McDonald’s has announced that it will raise the hourly wages for its company-owned restaurants by an average of 10%. This will bring the average hourly wage to $13 for entry-level employees and $15 for shift managers. This move is expected to affect about 36,500 employees.
In summary, the breaking business news on June 15th 2021 includes Amazon’s acquisition of MGM, Microsoft’s acquisition of Nuance Communications, the surge of Bitcoin, Uber and Lyft’s deal with California Regulators and McDonald’s decision to raise worker pay. These stories have significant implications for their respective industries and reflect the fast-paced and dynamic nature of the business world.
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