November 19, 2020 - Biz in 60

Nasdaq to buy fraud detection firm Verafin for $2.75B Exchange operator Nasdaq has agreed to buy anti-financial crime software firm Verafin for 2-point-75 billion dollars. The acquisition will significantly expand Nasdaq's reach in the regulatory technology market. Verafin provides institutions a cloud-based platform to help detect, investigate, and report money laundering and financial fraud. Thyssenkrupp to cut another 7,400 jobs as losses deepen German conglomerate, Thyssenkrupp, says it's planning to cut 74-hundred more jobs over the next three years as it struggles to survive the COVID-19 crisis. This will bring the total number of job cuts to 11-thousand. The steel and materials group reported a net loss of six-and-a-half billion dollars for the year to September. Apple to pay $113M in US over iPhone battery slowdowns Apple has agreed to pay 113 million dollars to settle consumer fraud lawsuits brought by more than three dozen states. The US tech giant was accused of secretly slowing down old iPhones to get users to purchase new devices. The deal is separate from a proposed settlement Apple reached in March to pay affected iPhone owners up to 500 million dollars to stem a class action.