Tag Archives: WeWork

Financial Daily Dose 2.3.2020 | Top Story: Boeing’s 737 MAX Aircraft Face Continued Problems

BY: Juvian Hernandez | February 3, 2020

Boeing Co.’s 737 MAX aircraft face continued problems from “potentially hazardous wiring.” European regulators want the manufacturer to relocate some of the wiring to prevent “potential short circuit[s], which in a worst-case scenario could disrupt flight-control systems.” Officials at the Federal Aviation Administration have stated that relocating the wiring is not necessary. The FAA is … Continue reading

Financial Daily Dose 12.18.2019 | Top Story: Fiat Chrysler and Peugeot Boards Agree to $50 Billion Merger

BY: Michael D. Reif | December 18, 2019

Fiat Chrysler and rival Peugeot have agreed to binding merger terms that, if approved by US and European regulators, would create a “$50 billion auto giant that would rank among the world’s largest car companies by sales” – WSJ and MarketWatch Freshly emboldened by a sizeable win in last week’s general election, UK PM Boris … Continue reading

Financial Daily Dose 11.22.2019 | Top Story: WeWork Cuts Nearly 20% of Global Workforce

BY: Michael D. Reif | November 22, 2019

The first cuts from WeWork hit this week, and they’ll take the form of 2,400 employees around the world—some 20% of the struggling company’s workforce – NYTimes and WSJ and MarketWatch and CNBC Chinese officials have invited American negotiators to participate in a new round of in-person talks “as both sides are struggling to strike … Continue reading

Financial Daily Dose 11.19.2019 | Top Story: T-Mobile Chief John Legere to Leave Company in April

BY: Michael D. Reif | November 19, 2019

T-Mobile chief and fan-of-magenta John Legere has announced that he’ll be stepping down in April at the end of his current contract. Legere will be succeeded by Mike Sievert, the carrier’s current president and COO – NYTimes and WSJ and Bloomberg and MarketWatch and Mashable Troubled by scrutiny from high-profile US lawmakers and regulators, social … Continue reading

Financial Daily Dose 11.18.2019 | Top Story: Aramco Seeks Valuation of $1.7T, Well below Original Goal

BY: Michael D. Reif | November 18, 2019

Saudi Aramco’s slow trickle of IPO-related information continued this weekend, including its goal of setting overall company market value at a staggering $1.7 trillion. The figure, though massive, is still well short of the $2 trillion valuation originally floated by MBS – NYTimes and WSJ and Bloomberg As the 737 Max grounding heads into its … Continue reading

Financial Daily Dose 11.14.2019 | Top Story: Fed Chair Talks Economy and Rates During Congressional Testimony

BY: Michael D. Reif | November 14, 2019

Fed Chair Powell was far from the main attraction on the Hill yesterday, but hey, let’s keep it on topic here and note his belief that the U.S. economy is performing well even as certain risks—including “sluggish growth abroad and trade developments”—remain (though aren’t enough to cut rates again any time soon) – NYTimes and … Continue reading

Financial Daily Dose 11.13.2019 | Top Story: Buffeted by Changing Consumer Demands, Dean Foods Declares Bankruptcy

BY: Michael D. Reif | November 13, 2019

Dean Foods, the largest milk company in the U.S., has filed for bankruptcy protection, a “fresh setback to a U.S. dairy industry struggling against declining U.S. milk consumption and rising competition.”  Industry experts have noted that the company’s attempts to streamline in recent years haven’t kept up with declining sales, making yesterday’s announcement close to … Continue reading

Financial Daily Dose 11.12.2019 | Top Story: WeWork in Talks with T-Mobile’s John Legere for CEO Job

BY: Michael D. Reif | November 12, 2019

WeWork is reportedly looking to swap out co-founder Adam Neumann for a similarly long-tressed and eccentric figure, T-Mobile’s John Legere. Legere is currently quite occupied with his company’s merger with Sprint, and his interest in the job is unclear  – WSJ and NYTimes and Bloomberg The Journal’s breaking news of a secretive Google effort—dubbed Project … Continue reading

Financial Daily Dose 11.11.2019 | Top Story: Twitter Screed Prompts Investigation of Apple Card Gender Discrimination

BY: Michael D. Reif | November 11, 2019

Here’s about as 2019 as we can get in the financial world (with a healthy dose of 1950s-era gender discrimination for good measure): a series of tweets from tech entrepreneur David Heinemeier Hansson alleging gender discrimination “in the new Apple Card’s algorithms when determining credit limits” has prompted attention from New York’s financial watchdog, which … Continue reading

Financial Daily Dose 11.05.2019 | Top Story: Uber Posts Billion-dollar Q3 Losses But Improved Revenue

BY: Michael D. Reif | November 5, 2019

Uber reported another quarter of billion+ dollar losses, but as so many things on Wall Street & Silicon Valley tend to go, the news wasn’t all bad because those numbers were far better than the $5.2 billion it lost in Q2. Throw in a 30% revenue increase, and it was something of a solid day … Continue reading