Wednesday, March 3 to Tuesday, March 9, 2021

The Public Utility Commission of Texas has announced plans to not fix the $16B power overcharge.

Source: WSJ

  • Commission Chairman Author D’Andrea said it was too difficult to rework the overcharge and it could have adverse effects on other parties.

On Thursday, Italy blocked the export of over 250,000 doses of AstraZeneca COVID vaccines to Australia.

Source: WSJ

  • The EU is struggling to meet public expectations of a large-scale vaccine rollout, so this block was made due to the consistent shortage of vaccines in Italy and the EU.

Italy is able to make this move due to a “transparency and authorization mechanism” the European Commission adopted in late January.

  • This policy allows a country to block vaccine exports if they determine that the company is exporting vaccines before meeting its contractual obligation in the EU.

India’s government has threatened to jail social media employees in an attempt to squash political protests and gain power over tech companies.

Source: WSJ

  • Threats to jail Facebook, WhatsApp, and Twitter employees is the government’s response to the companies’ unwillingness to take down posts related to protests of Indian farmers.

Government

  • Senate Democrats finally agree on including unemployment benefits in the $1.9 trillion COVID-19 relief bill. (Source: CNBC)

Deals

  • Las Vegas Sands, a casino company, is selling its Las Vegas properties to Apollo Global Management and a real-estate investment trust for about $6.25B to focus on its Asia operations. (Source: WSJ)

Company News

  • Google plans to stop selling ads based on individuals’ search history in order to address privacy concerns. (Source: WSJ)

Economy

  • Federal Reserve Chairman Jerome Powell states that economic reopening may cause a quick inflation, however interest rates will most likely not increase. (Source: CNBC)

Written By:

Director: Jacquline Ruan

Managers: Vaibhavi Bamane, Melissa Chen, Stacy Kim