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DraftKings Jumps After Raising 2020 Revenue Forecast

(Bloomberg) — DraftKings Inc. surged as much as 8.4% in early trading after raising its 2020 revenue forecast, an indication that the rise of sports betting shows no signs of slowing.The Boston-based company expects revenue in a range of $540 million to $560 million, excluding some items, up from its previous forecast range of $500 million to $540 million, it said in a statement Friday. That would mean year-over-year revenue growth of 25% to 30%.DraftKings said its forecast assumes all announced sports calendars are maintained through the end of the year — and that’s not a sure thing, with coronavirus …read more […]

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Israel signs deal with Pfizer for potential COVID-19 vaccine

Israel signed a deal with Pfizer Inc on Friday to receive 8 million doses of the drugmaker’s potential COVID-19 vaccine, Prime Minister Benjamin Netanyahu said, enough to cover close to half of Israel’s population. Pfizer and German partner BioNTech SE confirmed a deal was forthcoming in a statement on Thursday but did not disclose financial details. The agreement still requires approval by the U.S. Food and Drug Administration (FDA) and Israel’s health ministry, Israeli Health Minister Yuli Edelstein said. …read more […]

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China drafts rules to govern its booming livestreaming sales industry

China’s internet watchdog has drafted rules for the first time to regulate the country’s livestreaming marketing industry, stepping up scrutiny on e-commerce marketplaces belonging to the likes of tech giant Alibaba Group and JD.Com. Last week China published draft regulations aimed at preventing anti-monopolistic behaviour by internet platforms which wiped hundreds of billions of dollars off the value of some tech giants including Alibaba and Tencent. Livestreaming marketing has seen its popularity surge in the last two years among brands like L’Oreal, Nike, Dyson and online shoppers, and most Chinese e-commerce platforms now offer the option to purchase …read more […]