WHO Investigates China while the Big Corporations compete for market share in emerging spaces.
This week, the WHO took an initiative to investigate the origins of Coronavirus in China. Many big companies, like Amazon, are investing in Rivian, an electric car startup. Rivian, Tesla, and Nikola are all electric vehicle manufacturers fighting for the new electric pick up truck industry. Retail space becomes more competitive as Walmart pushes Amazon with its own subscription service, Walmart+, similar to Amazon prime. It will be interesting to see how Amazon responds. The Hagia Sophia, originally a Christian Basilic built in the 6th century and one of the ancient wonders of the world, is reconverting back to a Mosque. Unexpectedly, the lockdown is booming the cosmetic clinics as it provides the necessary quiet time for recovery! Here are this week’s top stories.
1. WHO Investigates China on Coronavirus Origins
The World Health Organization (WHO) sent two experts to investigate the origins of the virus. The two specialists are from animal health and epidemiology. “One of the big issues that everybody is interested in, and of course that’s why we’re sending an animal health expert, is to look at whether or not it jumped from species to a human and what species it jumped from,” said WHO spokeswoman Margaret Harris. Secretary of State Michael Pompeo and Donald Trump have said it may have originated in a laboratory, but China strongly denies the claim. Scientists and U.S. intelligence have said it emerged in nature. It is very unclear how China handled the pandemic in the beginning and this investigation should clear things up. Cases are surging all over the world specifically in India, United States, and Brazil.
2. Rivian raises $2.5 Billion to beat Tesla
Tesla rival Rivian, an electric car startup founded in 2009, Is backed by Amazon and Ford Motors to beat Tesla and Nikola. All 3 companies are electric car manufactures developing electric pickup trucks to be released within the next 3 years. Total investment in Rivian is at least $6 billion, including a $1.3 billion round in December led by T. Rowe Price. Rivian’s pickup truck and SUV were delayed due to the pandemic. Rivian is also working on a line of vans, which Amazon pre-ordered 100,000 for its delivery fleet. It will be very interesting to see companies trying to compete with Tesla and fight for the new electric pick up market.
3. Walmart’s answer to Amazon Prime
Walmart, the king of the Fortune 500 list, is reportedly close to launching its own membership similar to Amazon Prime. The giant retailer plans to unveil Walmart plus in July for $98 a year. The service includes same-day delivery, fuel discounts, and other perks. Amazon surpassed Walmart as the biggest retailer in the world but Walmart held the number one spot in the Fortune 500 with Amazon in a close second. It would be a “big win” if Walmart manages to get even a small fraction of Amazon Prime’s 150 million subscribers.
4. Hagia Sophia is reconverted back to a Mosque
Turkish courts revoked the Byzantine-era Hagia Sophia’s museum status. It was built as a Christian Basilica in the 6th century, but the Ottomans conquered Istanbul in the 15th century and converted it into a Mosque. In 1935, the monument was converted into a museum but now it's back to being a Mosque. Turkish President Recep Tayyip Erdogan spoke to the public on Friday saying, “Like all our mosques, its doors will be open to everyone — Muslim or non- Muslim. As the world’s common heritage, Hagia Sophia with its new status will keep on embracing everyone in a more sincere way.” The UNESCO responds on Twitter by saying, “UNESCO deeply regrets the decision of the Turkish authorities, made without prior discussion.”
5. Cosmetic Surgeons see a rise in patients during Pandemic.
Many cosmetic clinics are seeing a rise despite the pandemic. Most businesses have shut down but clinics have stayed open by doing regular tests and cleanings. Clinics all-around the world, including US, South Korea, Japan, and Australia, saw an unexpected increase in patients coming in for treatment including lip fillers, botox, facelifts, and nose jobs. The rise can be attributed to the people having the ability to hide their treatment as they recover by wearing a facemask or staying home.
Above were my top stories for the week ending July 11, 2020, hope you enjoyed it. Please leave your feedback or point of view in the form of a comment. Thanks.
See you next week!