Oct 10, 2018

Report: SoftBank in talks for majority stake in WeWork

WeWork in NYC's Financial District. Photo: Michael Brochstein/SOPA Images/LightRocket via Getty Images

SoftBank is in talks to invest between $15 billion and $20 billion for a majority stake in office co-working company WeWork, according to the Wall Street Journal.

Why it matters: WeWork, which already raised $4.4 billion from SoftBank and its $93 billion fund last year, would be one of the firm's biggest investments. The move also raises questions as to why WeWork would want to cede so much control to one investor.

WeWork declined to comment.

Go deeper

Axios

Updated 11 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 5 p.m. ET: 5,885,490— Total deaths: 363,031 — Total recoveries — 2,468,011 — Map.
U.S.: Total confirmed cases as of 5 p.m. ET: 1,735,971 — Total deaths: 102,516 — Total recoveries: 399,991 — Total tested: 15,646,041 — Map.
Public health: Hydroxychloroquine prescription fills exploded in March —How the U.S. might distribute a vaccine.
2020: North Carolina asks RNC if convention will honor Trump's wish for no masks or social distancing.
Business: Fed chair Powell says coronavirus is "great increaser" of income inequality.
1 sports thing: NCAA outlines plan to get athletes back to campus.

Other resources (<1 min. read)

Axios

Updated 1 hour ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

Over 500 schools in South Korea have either closed or postponed reopening, according to the Korea Times, which cites data from the Ministry of Education.

Why it matters: South Korea has been a model for how to handle the novel coronavirus, and the closures reportedly followed concerns from parents and teachers over child safety. The country's confirmed death toll has plateaued at 269 over the past few days, with few increases, per Johns Hopkins data.

Go deeper (2 min. read)

Dave Lawler, Bethany Allen-Ebrahimian

2 hours ago - World

Trump to end Hong Kong’s special trade status

President Trump. Photo: Win McNamee/Getty Images

President Trump announced on Friday that the U.S. would be fundamentally changing longstanding policies toward Hong Kong as a result of Chinese encroachment on the city's autonomy.

Why it matters: Trump said he would be effectively ending the special trade status that has allowed Hong Kong to flourish as a gateway to the Chinese market. That leaves an uncertain future for businesses that operate in Hong Kong, not to mention the city's 7 million residents, and could be met with reprisals from Beijing.

Go deeper (2 min. read)