February 8, 2021 - Biz in 60

Elon Musk's electric carmaker Tesla invests $1.5B…

An episode of the Business in 60 Seconds podcast, hosted by TRT World, titled "February 8, 2021 - Biz in 60" was published on February 8, 2021 and runs 1 minutes.

February 8, 2021 ·1m · Business in 60 Seconds

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Summary

Elon Musk's electric carmaker Tesla invests $1.5B in bitcoin Tesla has announced it bought 1-and-a-half billion dollars worth of Bitcoin in January as part of its efforts to diversify its investments. In a regulatory filing, the electric carmaker also said it will start accepting the cryptocurrency as a form of payment for its products. The news sent bitcoin rallying to a new record high of 44-thousand dollars. SoftBank sees WeWork recovery, Q3 net profit soars to $11B Softbank net profit soared to 11 billion dollars in the third quarter, thanks to the global rally in tech stocks. The figure marks a more than twenty-fold jump from a year ago, when profits were almost wiped out due to troubles with its office-sharing business, WeWork. The Japanese group's Vision Fund also swung to a record 8-billion dollar profit during the period. Boohoo buys three brands from Arcadia for $34.6M British online fashion retailer Boohoo has agreed to buy Dorothy Perkins and two other brands from Arcadia for 34-point-6 million dollars. But the deal does NOT include the group's high-street stores, putting 2-and-a half thousand jobs at risk. Philip Green's Arcadia fashion empire went into administration last year, becoming Britain's largest corporate casualty of the pandemic.

Episode Description

Elon Musk's electric carmaker Tesla invests $1.5B in bitcoin Tesla has announced it bought 1-and-a-half billion dollars worth of Bitcoin in January as part of its efforts to diversify its investments. In a regulatory filing, the electric carmaker also said it will start accepting the cryptocurrency as a form of payment for its products. The news sent bitcoin rallying to a new record high of 44-thousand dollars. SoftBank sees WeWork recovery, Q3 net profit soars to $11B Softbank net profit soared to 11 billion dollars in the third quarter, thanks to the global rally in tech stocks. The figure marks a more than twenty-fold jump from a year ago, when profits were almost wiped out due to troubles with its office-sharing business, WeWork. The Japanese group's Vision Fund also swung to a record 8-billion dollar profit during the period. Boohoo buys three brands from Arcadia for $34.6M British online fashion retailer Boohoo has agreed to buy Dorothy Perkins and two other brands from Arcadia for 34-point-6 million dollars. But the deal does NOT include the group's high-street stores, putting 2-and-a half thousand jobs at risk. Philip Green's Arcadia fashion empire went into administration last year, becoming Britain's largest corporate casualty of the pandemic.

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