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Hi there,
Here's what we're watching in business and tech news this week:
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The US Fed will meet on Tuesday and Wednesday. Though big interest rate changes are unlikely, this week's meetings may give insight into how the central bank would address economic damage from a second wave of Covid-19 cases.
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Look for news around a potential tie-up of AstraZeneca and Gilead. The UK drugmaker approached Gilead informally last month, as Gilead’s antiviral drug remdesivir made its way through clinical trials as a treatment for Covid-19, according to Bloomberg. The merger, thought by some to be unlikely, would mark the largest healthcare deal on record, with Gilead’s market cap near $100B. For more on notable healthcare partnerships, we mapped out how companies are banding together to tackle Covid-19 and augment telehealth.
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China-based gaming giant NetEase is set to list in Hong Kong on Thursday. The internet company has been listed on the Nasdaq since 2000 and is looking to net up to $3B in this week’s listing. Its net revenue jumped 18% YoY in Q1’20, as gamers were sheltered at home amid the pandemic. In earnings, Adobe is expected to report strong second quarter results on Thursday. Other companies reporting this week include Stitch Fix, Chewy, AMC, and Lululemon.
- Look for up to 400,000 people to return to work as New York City — the center of the pandemic in the US — begins its first phase of reopening today. Construction, manufacturing, and some retail businesses will be allowed to resume operations. As businesses reopen,
we look at some self-cleaning tech solutions that aim to reduce contamination risk and keep consumers and employees safe.
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