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 30 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Politics: Trump says if Biden's elected, "he'll listen to the scientists" — Trump calls Fauci a "disaster" on campaign call — Fauci says he's "absolutely not" surprised Trump got coronavirus.
  2. Health: Coronavirus hospitalizations are on the rise — 8 states set single-day coronavirus case records last week.
  3. Business: Consumer confidence surveys show Americans are getting nervous — How China's economy bounced back from coronavirus.
  4. Sports: We've entered the era of limited fan attendance.
  5. Education: Why education technology can’t save remote learning.
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Marisa Fernandez
1 hour ago - Politics & Policy

Trump calls Fauci a "disaster" on campaign call

Photo: Stephen Lam/Getty Images

During a campaign call on Monday, President Trump slammed infectious disease expert Anthony Fauci, calling him a "disaster," and that "people are tired of COVID," according to multiple reporters who listened to the call.

Driving the news: CBS's "60 Minutes" aired an interview Sunday night with the NIAID director, where he said he was "absolutely not" surprised Trump contracted COVID-19 after seeing him on TV in a crowded place with "almost nobody wearing a mask."

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Orion Rummler
Updated 2 hours ago - Health

8 states set single-day coronavirus case records last week

Data: Compiled by Axios; Map: Danielle Alberti/Axios

8 states set new highs last week for coronavirus infections recorded in a single day, according to the COVID Tracking Project (CTP) and state health departments. Montana, West Virginia, and Wyoming surpassed records from the previous week.

Why it matters: Cases and hospitalizations are rising in Michigan, a state that initially fought the pandemic with strict mitigation efforts, alongside states that took less action against the spread of the virus this spring.

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