T-Mobile's CEO could take over WeWork

Dion Rabouin, author of Markets

John Legere, T-Mobile CEO. Photo: Alex Wong/Getty Images

T-Mobile CEO John Legere is in talks to take over the top job at WeWork after the departure of co-founder Adam Neumann, the Wall Street Journal reported.

But, but, but: CNBC later reported that "a source close to SoftBank confirmed Legere is one of many candidates being considered for the role, but he’s not the leading candidate."

Between the lines: "T-Mobile and WeWork have leadership in place that runs in similar circles," CNBC notes.

  • "SoftBank, which took control of WeWork last month, is a majority owner of Sprint and played a role in installing Sprint CEO Marcelo Claure. Claure, who was recently named WeWork’s executive chairman, helped orchestrate the $26 billion merger with T-Mobile, which is widely expected to be approved."
  • "Legere is expected to step down as T-Mobile’s CEO once the deal with Sprint is complete."

Go deeper:

Go deeper

Courtenay Brown, Felix Salmon
Updated 23 mins ago - Economy & Business

U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.

Go deeper (2 min. read)Arrow
Axios
Updated 28 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases
  4. Europe faces "stronger and deadlier" wave — France imposes lockdown — Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed — MLB to investigate Dodgers player who joined celebration after positive COVID test.
Go deeper (1 min. read)Arrow
Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Investors have nowhere to hide

Photo: Jeenah Moon/Getty Images

The massive losses in oil prices and U.S. and European equities were not countered by gains in traditional safe-haven assets on Wednesday.

Why it matters: The unusual movement in typical hedging tools like bonds, precious metals and currencies means they are not providing investors an asset that will appreciate in the event of a major equity selloff.

Go deeper (1 min. read)Arrow