Los Angeles-based private equity firm Shamrock Capital is the mystery buyer of Taylor Swift's master recordings for her first six albums.
Between the lines: Swift hasbeenfeuding with music magnate Braun since he acquired her former record label, Big Machine, and its assets last year. It's unclear if this new transaction will satisfy Swift, who did not participate.
Tesla will join the S&P 500, the index's committee said on Monday.
Why it matters: After years of ineligibility, one of the most valuable U.S. companies by market cap (and the most valuable automaker in the world) is joining the main benchmark of the stock market as its biggest new member ever.
Cinemark, one of the largest movie exhibitors in the U.S., and Universal, the movie studio owned by Comcast, have struck a deal to allow many Universal films to appear on premium video on-demand services after being made available in theaters for 17 days (three full weekends).
Why it matters: It's a significant departure from the traditional 90-day theatrical window. Cinemark follows AMC to become the second of the four biggest movie theater chains to strike this type of deal. The deals will likely usher a new era for streaming.
Airbnb on Monday filed for a $1 billion initial public offering, which is expected to price in December.
Financials: Airbnb reports nearly a $700 million net loss on $2.5 billion in revenue for the first nine months of 2020, versus a $322 million net loss on $3.7 billion in revenue for the year earlier period. But it also reports $219 million in profits for the third quarter of 2020, as bookings rebounded.
Moderna Therapeutics today reported a 94.5% efficacy for its COVID-19 vaccine, which doesn't need to be stored at the same ultra-cold temperatures as does a similar vaccine developed by Pfizer. It also said short-term safety concerns, such as headaches and injection site soreness, self-resolved within days, and that it could have 20 million doses available by year-end.
Axios Re:Cap speaks with Moderna chief medical officer Tal Zaks about the new data, distribution, politics, and how it was preparing for this moment even before COVID-19 was discovered.
A group of Democratic senators says Facebook needs to better enforce its hate speech policies on anti-Muslim posts.
Why it matters: Facebook is under pressure from a range of groups and politicians on both the left and right who feel mistreated by the social network.
Airbnb will flip its IPO filing on Monday afternoon, setting itself up to go public before year-end. [Update: It filed]
Why it matters: This would cap off a resilient rebound for a company that many left for dead after the pandemic hit. As a source close to the company tells me: "Everyone knows Airbnb had a good Q3, but people may be surprised by just how good it was."
OPEC+ committees are holding talks today and tomorrow ahead of pivotal meetings in two weeks that will decide the next steps in the group's production-limiting agreement.
Why it matters: The OPEC+ group — led by Saudi Arabia and Russia — could send more signals that they'll delay plans to lower the amount of joint production cuts in order to avoid undercutting the limited and fragile price recovery.
An index of America's smallest companies closed at the highest level ever on Friday. It hasn't hit a new record in over two years.
Why it matters: The gulf between the biggest and smallest companies widened at the onset of the pandemic — with smaller companies (whose businesses are the most closely tied to the U.S. economy) seen as hit the hardest by the economic effects from COVID-19.
America is facing its worst rate of new coronavirus infections — and widespread sickness is expected to be compounded by economic pain from the necessary lockdown measures, much like we saw earlier this year.
Why it matters: What's different now is the lack of near-term hope for stimulus as the country tries to control the virus — at a time when economists say it's critical to mitigate fallout for the unemployed, businesses and municipalities.
