Jul 27, 2017

SoftBank helps bankroll WeWork's Chinese expansion

Kia Kokalitcheva

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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Rebecca Falconer

In photos: Trump visits Taj Mahal after massive rally in India

President Trump and First Lady Melania Trump at the Taj Mahal. Photo: Mandel Ngan/AFP via Getty Images

President Trump visited India's Taj Mahal on Monday, hours after telling a massive crowd at a rally in Ahmedabad that he hopes to reach a trade deal with his "true friend" Prime Minister Narendra Modi during his two-day visit to the country.

Why it matters: The countries are forging deeper ties as India’s location, size and economic growth make it the "obvious counterweight to China" for American policymakers.

Go deeperArrowUpdated 4 mins ago - World
Caitlin Owens

Coronavirus stress tests drug industry's dependence on China

A Hong Kong commuter wears a face mask. Photo: Miguel Candela/SOPA Images/LightRocket via Getty Images

It's unclear whether the rapid spread of the novel coronavirus will actually result in prescription drug shortages, but it has undoubtedly highlighted the potential vulnerabilities of having the supply chain for American drugs so dependent on China.

Driving the news: About 150 prescription drugs — including antibiotics, generics and some branded drugs without alternatives — are at risk of shortage if the coronavirus outbreak in China worsens, per two sources familiar with a list of at-risk drugs compiled by the Food and Drug Administration.

Go deeperArrow1 hour ago - Health
Jim VandeHei

Bernie's path to the presidency

Sen. Bernie Sanders speaks yesterday during a rally at Houston University. Photo: Mark Felix/AFP via Getty Images

Lots of Democrats are in full panic that Bernie Sanders will win the nomination and get clobbered in the general election — and bring the party down, too. But the evidence, particularly the polling, doesn't back those doomsday warnings.

Why it matters: Virtually every national and swing state poll shows Sanders tied with or beating President Trump.  And, unlike every rival, he has a huge base of fervent, unshakable supporters he can only grow.

Go deeperArrow2 hours ago - Politics & Policy