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Business

WeWork: Office sharing company reports $2.06 billion quarterly loss

Office sharing commercial real estate company WeWork has posted a $2.06 billion quarterly loss after being hit hard by Covid-19. The announcement comes as WeWork prepares for its stock market debut. The company’s first attempt to go public collapsed in 2019 over concerns about its business model and co-founder Adam Neumann’s leadership style. Since Mr […]

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Business

SoftBank bails WeWork with fresh $5 billion fund infusion

WeWork received a multi-billion-dollar lifeline from Softbank that will give the Japanese company more control of the troubled property start-up. Softbank in a statement said it would provide $5 billion (£3.9 billion) in new financing and up to $3 billion for existing shareholders. The deal will see Softbank increase its stake in the US office-space […]