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Hello and welcome to 90 Second News issue #96. Today is Wednesday, February 3rd.
Good morning everyone! We’re at the tipping point of the week, so just focus on making it to lunch and then it’s all downhill.
0:05- Bezos bounces
After more than 26 years at the helm of Amazon, Jeff Bezos is finally stepping down as CEO (although he will maintain an executive chair position), and Andy Jassey, who is the current CEO of Amazon’s most successful division, AWS, will take the helm beginning July 1st. Bezos explained his decision by stating that he wants to focus more on his charitable ventures and passion projects, such as Day 1 Fund, Bezos Earth Fund, Blue Origin, and WaPo. Naturally this news was the main story, but Amazon’s earnings didn’t exactly disappoint. They reported 38% growth and a revenue of $125Bn, their first time over $100Bn in a quarter.
Today Uber announced their acquisition of Drizly, an alcohol delivery service, in a deal worth $1.1Bn. In the press release, Uber indicated that it’ll implement Drizly into its UberEats app as soon as the deal is official, although you’ll still be able to use the Drizly app on its own if you prefer.
0:46- A take back by Tesla
Following a request by the National Highway Traffic Safety Administration, Tesla announced today that it would be recalling around 135k Model S and Model X cars for an issue with their touchscreen. This move will cost anywhere between $200M and $250M for Tesla, and although they publicly said they disagree with NHTSA’s request, they indicated that they would move forward with the recall to provide a “better experience for customers.”
In today’s issue of “I can’t believe that company is worth so much”, Kraft Heinz indicated today that it is nearing a deal to sell its Planters snack division to Hormel foods for more than $3Bn in an attempt to “simplify its business.”
A recent peer-reviewed study found that Russia’s Sputnik V vaccine is both safe and effective, as the shot showed a 91.6% success rate. The results were so convincing in fact, that AstraZeneca is now testing a combination of their shot and Sputnik V in an attempt to build a better shot.
NCAA Football video games are back! That is all.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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