September 21, 2020-Biz in 60

Nikola founder Trevor Milton steps down as chairperson The founder of US electric truck start-up, Nikola, has stepped down as executive chairperson. Trevor Milton's resignation comes after short-selling firm, Hindenburg Research, accused the automaker of misleading investors and overstating the value of a business deal. The US Securities and Exchange Commission and Justice Department are reportedly investigating the allegations. Microsoft to buy gaming firm ZeniMax Media for $7.5B Microsoft has agreed to buy ZeniMax Media for 7-and-a-half billion dollars, marking its biggest video game acquisition to date. The deal will bring some of the industry's highest profile titles including Fallout and Doom under the Microsoft banner. The move comes amid rising demand for video games as lockdowns force people to stay home. Swedish government promises $12B to boost economy in 2021 The Swedish government has promised to pump around 12-billion- dollars into the economy in its 2021 budget. That's to revive growth following the COVID-19 pandemic. The measures include tax cuts for individuals and companies, as well as financial aid for the welfare sector. Sweden's economy is expected to shrink around 4-point-6 percent this year.