Intel has unveiled plans to spend $20 billion to build two new chip manufacturing factories near existing facilities in Arizona—a “surprise bet that could please government officials worried about component shortages and dependence on factories in Asia” - NYTimes and WSJ and MarketWatch
Add to the growing list of logistics headaches these days the Ever Green—the container ship “longer than the Eiffel Tower” that’s managed to wedge itself in the Suez Canal, “blocking one of the world’s busiest maritime trade routes that’s vital for the movement of everything from oil to consumer goods” - Bloomberg and NYTimes and WSJ and MarketWatch
All the hits from the first day of the Powell/Yellen show on the virtual Hill, including the topics of inflation and planned spending proposals - NYTimes and WSJ and Bloomberg and Marketplace and Law360 and MarketWatch
Powell’s inflation discussion was enough to push markets into the red for the day - WSJ
The rise of streaming entertainment has largely meant fewer traditional commercials, a major change that’s pushing big brands to rediscover the early-TV model of directly producing (and funding) content themselves - NYTimes
Buzzy trading app Robinhood has made an uncharacteristically quiet move to go public, filing “confidentially for an initial public offering with the U.S. Securities and Exchange Commission” and planning to make its debut as early as late Q2 - Bloomberg and MarketWatch and TechCrunch and WSJ
Amazon has named Adam Selipsky, current CEO of Tableau, to lead its AWS Cloud Unit. Selipsky had worked at the ‘Zon for years before leaving in 2016 to helm the data-analytics platform Tableau. He’ll replace Andy Jassy, who in turn is taking over for Jeff Bezos when he steps down later in 2021 - WSJ and MarketWatch and TechCrunch
Insurance giant Hartford has rejected the unsolicited takeover offer from rival Chubb, and it’s unclear whether Chubb CEO Evan Greenberg is prepared to up his ante - WSJ
Wells Fargo is unloading its corporate trust business for $750 million to Computershare Ltd., an Australian company - Bloomberg
Disney has pushed back the release dates on six of its films, “including ‘Black Widow,” a hotly anticipated Marvel prequel,” in what’s considered yet another “blow to cinemas” that have been pummeled by the pandemic - NYTimes and Bloomberg and MarketWatch
Buckle up, kids. It’s Mars Copter time - NYTimes
Stay safe,
MDR
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