Jul 27, 2017

SoftBank helps bankroll WeWork's Chinese expansion

Courtesy of WeWork

On Thursday, WeWork revealed it's raised $500 million from SoftBank, existing investor Hony Capital, and its own new funding for its newly formed Chinese legal entity. WeWork first opened shop in China a year ago and already has eight locations there.

Asia partner: This follows an announcement last week that SoftBank and WeWork have formed a joint venture in order the bring the latter into Japan. Each company owns half of WeWork's Japanese unit and both contributed funds, though the companies declined to share how much SoftBank invested as part of the deal.

SoftBank has been rumored since late 2016 to be investing in WeWork, and it appears these investments are part of the two companies' financial relationship.

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Axios

Updated 8 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 2 p.m. ET: 19,705,715 — Total deaths: 727,984 — Total recoveries — 11,963,915 — Map.
U.S.: Total confirmed cases as of 2 p.m. ET: 5,022,187 — Total deaths: 162,696 — Total recoveries: 1,643,118 — Total tests: 61,080,587 — Map.
Politics: Pelosi says states don't have the funds to comply with Trump's executive order on employment — Mnuchin says Trump executive orders were cleared by Justice Department.
Public health: Ex-FDA head: U.S. will "definitely" see 200,000 to 300,000 virus deaths by end of 2020 — Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective.
Schools: Nine test positive at Georgia school where photo showing packed hallway went viral — How back-to-school is playing out in the South as coronavirus rages on.

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Fadel Allassan

11 mins ago - Politics & Policy

Blumenthal calls classified briefing on Russian interference "absolutely chilling"

Sen. Richard Blumenthal (D- Conn.) called on the Trump administration to declassify intelligence detailing Russian efforts to influence the 2020 elections, telling MSNBC on Sunday that the classified briefing lawmakers received about the Kremlin's activities this week was "absolutely chilling."

The big picture: National Counterintelligence and Security Center Director William Evanina said in a statement Friday that the Russian government is "using a range of measures" to "denigrate" Joe Biden ahead of the election. China and Iran would prefer that Trump is defeated, according to Evanina.

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Rashaan Ayesh

2 hours ago - Health

Ex-FDA head: U.S. will "definitely" see 200,000 to 300,000 virus deaths in 2020

Former FDA commissioner Scott Gottlieb said on CBS News' "Face the Nation" that the coronavirus death toll in the U.S. will be "definitely" somewhere between 200,000 and 300,000 by the end of 2020.

Why it matters: "Whether we're closer to 200,000 or closer to 300,000 depends on what we do now and how it evolves," Gottlieb warned on Sunday as the U.S. surpassed five million confirmed coronavirus cases.