⏱Man, I get upset if I lose $5, I couldn’t imagine losing $34bn
90 Second News Issue #18
Hey everyone, 90 Second News here, your favorite source of quality news and slightly less quality banter. Oh, and by the way, it’s Friday the 13th, so if you see a dude in a hockey mask you should probably start running.
0:11- A $34 billion dollar mistake
If you’ve been following us since day 1, you’ll remember Ant Group’s record breaking IPO. Unfortunately though, that never happened as the Chairman of Ant Group, Jack Ma, made critical comments towards the Chinese government. As you all probably know, typically that doesn’t go over super well in a country like China, and as a result they suspended the deal. It’s unclear how long this power struggle will last, but until then investors will have to wait to cash in.
0:32- The first domino falls...
As New York and Chicago enter their second lockdowns, and the virus rages across the country, the Ivy League announced that they would be cancelling all winter sports for the 2020-2021 season. In the spring, the Ivy League acted as a barometer for the rest of the country, but were largely ignored when they cancelled fall sports. Only time will tell if sports will continue as we know it, but it may not be looking good. The commissioner of the Big 12 Conference said, “I don’t know if I see us playing the championship game in February, but you never know, these are unusual times”
0:59- We never would’ve thought such a small company like Disney could’ve launched a streaming service
Yesterday, Disney+ turned a year old, amidst the second straight quarterly loss by the company. It’s not quite as dire as it seems though, because Disney+ was actually the start of the earnings report. It showcased a casual bump of 13.7 million subscribers, causing it to hit 73.7 million as of October 3rd. That’s a lot of baby Yoda fans.
1:15- Quick fire hits for your weekend fun
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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