Many brands are starting to see a recovery despite the challenges initially brought on by the pandemic. Some businesses, especially ones that focused efforts on expanding e-commerce ventures, have even seen profits rise even higher than before.
HYPEBEAST has rounded up the top business and crypto stories of the week so you can stay in-the-know about trends across industries.
1. Amazon is acquiring legacy movie studio MGM for $8.45 billion USD
The landmark deal merges one of Hollywood’s most awarded filmmaking institutions with Amazon Studios, giving the online retailer access to thousands of MGM titles. Collectively, MGM titles have won more than 180 Academy Awards and 100 Emmys.
2. Jeff Bezos will officially step down as Amazon CEO on July 5
Jeff Bezos will transition to Amazon’s executive chairman and Amazon Web Services CEO. Andy Jassy will take over as Amazon CEO.