WeWork

Two investors could purchase a controlling stake in WeWork China, sources told Reuters. What Happened The investors, Temasek Holdings and Trustbridge Partners, have had negotiations with WeWork China about buying more shares to own a majority stake in the company. A takeover proposal...

Months after its failed IPO attempt and emergency financing by SoftBank Group Corp - ADR (OTC: SFTBY), WeWork's business is substantially softening.  The company signed just four new domestic leases in the fourth quarter, and its total leased space fell from an average 2.54 million...

After a sluggish start to the year the, initial public offering activity gained momentum in 2019.  In the second quarter, Saudi Aramco, Beyond Meat Inc (NASDAQ: BYND) and Uber Technologies Inc (NYSE: UBER) all made the list for the biggest IPOs of 2019. On Dec. 5, the $2-...

SoftBank Group Corp’s (OTC: SFTBY) talks with Japan’s top three banks to secure $3 billion to help fund its support of a real estate startup WeWork have stalled, according to Reuters. What Happened Japan’s three biggest banks are considering the credit risks involved...

Ride-sharing company Uber Technologies Inc. (NYSE: UBER) co-founder Travis Kalanick sold about 12.7 million shares he owned in the company last week, according to a public filing with the Securities and Exchange Commission. What Happened The shares worth around $383 million were sold in...

The office-sharing company WeWork has secured a $1.75 billion letter of credit with Goldman Sachs Group Inc (NYSE: GS), according to Bloomberg. What Happened WeWork said on Tuesday that it had obtained a $1.75 billion letter of credit with Goldman Sachs. The new $1.75 billion credit line is...

The co-working space startup WeWork will lay off 2,400 employees which is 19% of its workforce as it works to cut costs, according to CNBC reports. The massive layoffs come at a time when WeWork is facing larger than ever drop in profits. The company posted a net loss of $1.25 billion in the...

Co-working space startup WeWork could lay off more than one-third of its total workforce as soon as next week, the New York Times reported on Sunday. What To Know From The NYT Report More than 2,000 people employed in WeWork’s core business of subletting working space will lose their jobs,...

Japan-based multinational conglomerate Softbank (OTC: SFTBY) wrote off billions of dollars in losses from investments in Uber Technologies Inc (NYSE: UBER) and WeWork. Softbank reported its first quarterly loss in 14 years last Wednesday, which may raise questions on CEO Masayoshi Son's...

What do the climate activist Greta Thunberg and the failed WeWork IPO have in common? For corporate officers in the current economic environment, the link between a hard-partying entrepreneur and a teen activist who’s grabbed the mantle of leadership on raising concerns about climate change...

WeWork is in discussions with T-Mobile Us Inc (NASDAQ: TMUS) CEO John Legere to take over leadership of the office-sharing company, according to a Monday Wall Street Journal report. After WeWork’s failed attempt at an initial public offering earlier this year, ...

SoftBank Group Corp (TYO:9984)(OTC: SFTBY) Chairman Masayoshi Son said he made a judgment error investing in WeWork that ultimately cost the investment bank its worst quarterly loss in history, the Wall Street Journal reported on Wednesday. What Happened “My own investment judgment was really...

SoftBank Group Corp - ADR (OTC: SFTBY) bets big on unicorns, but not all of them can fly.  Last quarter, Uber Technologies Inc (NYSE: UBER) and WeWork drove SoftBank's first operating loss in 14 years, according to Bloomberg. Masayoshi Son, chairman of the Japanese conglomerate,...

JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon spoke with CNBC's Wilfred Frost in London on Tuesday. Here are some key highlights from the conversation.  JPMorgan's third-quarter report showed an 8% increase in revenue year-over-year, which makes it more difficult to win...