Happy Turkey day everyone! We didn’t want to take time away from your family, but then we remembered it’s just 90 Seconds...
John Deere announced earnings yesterday, and raised expectations for profits for the upcoming year to $3.6bn to $4bn. This will largely come from the increased prices of crops, and the resulting increase in demand for machinery. They also reported revenue of $2.75bn during FY20 for an EPS of $2.27
Jobless claims rose on the week to 778,000 signaling that the nation may be struggling as the counts in the virus cases start to impact the recovery of the economy. While the overall trend is good (this marks the first spike since July), the overall numbers are still much higher than any previous recession.
The EU has always been ahead of privacy controls (they’re partially responsible for all those websites asking you about cookies all the time), and this time they’re making a large effort to standardize the ways data can and cannot be collected. Yesterday they suggested new legislation that would create a marketplace to share all industrial and government data that would allow for more transparency. This move, among others, comes largely as a pushback on Silicon Valley and Chinese companies.
0:56- Penguins and books
ViacomCBS has officially agreed to terms to sell publisher Simon & Schuster to Penguin Random House for more than $2bn in what will create the first international mega publisher. Penguin was already the largest book publisher in the United States, and Simon and Shuster was the third largest before the merger, meaning that antitrust regulation could potentially kick into effect if legislators deem the new company to be a monopoly.
Earlier this month, a former guard and two associates stole more than $1.7m in a heist that occurred outside an Atlantic City casino. Authorities described it as, “something out of the 1930s” when saying that one of the three were charged with burglary, theft, and conspiracy for the incident on November 5th. The other two have been identified, but are not yet in custody.
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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