As we move into another week of business, there are critical news items that every business leader and enthusiast must be aware of. As always, the business world remains full of surprises and news that can easily catch even the most experienced professionals off guard. Therefore, to help keep you updated, here are the top 5 must-read business news of the week.
1. Amazon acquires MGM
The e-commerce giant Amazon has made a massive move by announcing the acquisition of MGM, the iconic Hollywood studio, for $8.5 billion. The deal gives Amazon access to thousands of popular movies and TV shows that will help the company compete against other streaming services’ content libraries.
2. Elon Musk and Bitcoin
Tesla CEO Elon Musk announced that the company will resume accepting Bitcoin payments after suspending them a few weeks ago. Musk’s tweet confirms that the company’s main concern was Bitcoin’s environmental impact through energy consumption. However, Musk tweeted that he has been assured that Bitcoin mining is moving towards clean energy, and he will allow Tesla to accept Bitcoin again.
3. Apple CEO Tim Cook’s testimony
Apple CEO Tim Cook testified in court last week as part of the Epic Games versus Apple antitrust lawsuit. In his testimony, Cook argued that Apple’s closed system is essential to maintaining the quality and security of its products. Cook also outlined Apple’s strict app review process, noting that the company rejects around 40% of apps submitted to the App Store.
4. Remote work divide
According to a new study by the Pew Research Center, remote work during the pandemic has widened the income gap between employees who can work remotely and those who cannot. This means that remote workers are more likely to be higher-paid, highly-educated professionals, while employees who cannot work remotely are more likely to be lower-paid service workers.
5. Coca-Cola’s restructuring
Coca-Cola announced its restructuring plan, which includes shedding thousands of jobs globally, focusing on profitable brands and streamlining its operations. The move is part of Coca-Cola’s efforts to bounce back from the pandemic’s effects that disrupted the beverage industry.
In summary, these top 5 must-read business news of the week offer valuable insights into various industries and underscore the importance of staying updated on business trends. From mega-acquisitions to antitrust lawsuits and pandemics’ economic impacts, these stories are emblematic of a rapidly changing business landscape. Therefore, it’s vital to stay informed and adaptable to remain successful in the long term.
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