Highlight of the Week
PNC to Acquire US Operations of BBVA
- The deal, valued at $11.6 billion, has been approved by the boards of both companies, and is expected to be complete in mid-2021.
- The all-cash deal is the second-largest bank merger since the 2008 financial crisis.
Coronavirus Updates (as of Monday Night)
- COVID-19 has registered 56.2 million cases and 1,349,399 deaths worldwide. There are over 39.1 million recovered cases.
- The US has accounted for over 11.7 million cases and has surpassed 254,000 deaths. The US has registered over 7.1 million recovered cases.
- Georgia has almost 430,000 cases and 9,008 deaths.
PwC Spins Off Fintech Unit
- Now branded as LikeZero, the business provides insights and data analysis to banks and financial institutions.
- The spinoff is driven by regulatory restrictions banning audit firms from selling their own technology to companies.
Vaccine results show promise
Moderna has joined Pfizer in releasing it’s initial vaccine results. The Moderna vaccine has shown even more promise than the Pfizer vaccine, with over 94% effectiveness. The company has a contract with the US government to supply 100 million doses, with an option for the government to purchase an additional 400 million.