Business news in punch

Here are some recent business news in a nutshell (or a punch):

Tech

• TikTok's parent company ByteDance raises $3 billion in funding: ByteDance, the Chinese company behind TikTok, has raised $3 billion in funding from investors, valuing the company at $140 billion. [Source: Bloomberg]
• Microsoft acquires AI startup Nuance Communications for $19.7 billion: Microsoft has acquired Nuance Communications, a company specializing in artificial intelligence and speech recognition technology, for $19.7 billion. [Source: CNBC]

Finance

• US stocks surge as inflation fears ease: The US stock market surged on Friday as investors breathed a sigh of relief after inflation data showed a slower-than-expected rise in prices. [Source: Reuters]
• Goldman Sachs to pay $3.2 billion to settle 1MDB scandal: Goldman Sachs has agreed to pay $3.2 billion to settle allegations that it helped embezzle billions of dollars from Malaysia's 1MDB state fund. [Source: The New York Times]

Economy

• US GDP grows at 6.4% annual rate in Q2: The US economy grew at a 6.4% annual rate in the second quarter, according to the Bureau of Economic Analysis. [Source: The Wall Street Journal]
• China's economy grows 7.9% in Q2, beating expectations: China's economy grew 7.9% in the second quarter, beating expectations and marking a strong rebound from the COVID-19 pandemic. [Source: Bloomberg]

Retail

• Amazon to acquire MGM Studios for $8.45 billion: Amazon has agreed to acquire MGM Studios, the owner of iconic film and TV brands such as James Bond and Rocky, for $8.45 billion. [Source: The Hollywood Reporter]
• Walmart to acquire Lord & Taylor for $16 million: Walmart has agreed to acquire Lord & Taylor, a struggling department store chain, for $16 million. [Source: CNBC]

Energy

• Oil prices surge as OPEC+ agrees to cut production: Oil prices surged on Friday after OPEC+ agreed to cut production by 1 million barrels per day, in an effort to support prices and balance the global market. [Source: Reuters]
• Tesla to acquire SolarCity for $2.6 billion: Tesla has agreed to acquire SolarCity, a solar panel manufacturer, for $2.6 billion. [Source: The New York Times]

These are just a few of the latest business news in a nutshell. Let me know if you'd like me to summarize more!