Sep 30, 2019 - Economy & Business

WeWork will withdraw IPO filing

Photo: Michael Brochstein/SOPA Images/LightRocket via Getty Images

WeWork announced Monday that it would formally pull its IPO filing after a tumultuous series of weeks saw its valuation plummet and the departure of CEO Adam Neumann, per CNBC.

The big picture, via Axios' Dan Primack: The company's new CEOs, Artie Minson and Sebastian Gunningham, have already made a variety of moves to shore up the company's finances. It currently has around $2 billion of cash on hand and is owed another $1.5 billion next year from shareholder SoftBank, with reports that SoftBank may increase its investment if it can change the original deal terms.

Go deeper ... We(re)Work: One week, many changes

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Axios

Updated 9 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 9:45 p.m. ET: 19,282,972 — Total deaths: 718,851 — Total recoveries — 11,671,491 — Map.
U.S.: Total confirmed cases as of 9:45 p.m. ET: 4,937,441 — Total deaths: 161,248 — Total recoveries: 1,623,870 — Total tests: 60,415,558 — Map.
Politics: Trump says he's prepared to sign executive orders on coronavirus aid.
Education: Cuomo says all New York schools can reopen for in-person learning.
Public health: Surgeon general urges flu shots to prevent "double whammy" with coronavirus — Massachusetts pauses reopening after uptick in coronavirus cases.
World: Africa records over 1 million coronavirus cases — Gates Foundation puts $150 million behind coronavirus vaccine production.

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Alexi McCammond, Hans Nichols

10 hours ago - Politics & Policy

Warren and Clinton to speak on same night of Democratic convention

(Photos: Abdulhamid Hosbas/Anadolu Agency via Getty Images, Sean Rayford/Getty Images)

Sen. Elizabeth Warren and Hillary Clinton both are slated to speak on the Wednesday of the Democratic convention — Aug. 19 — four sources familiar with the planning told Axios.

Why it matters: That's the same night Joe Biden's running mate (to be revealed next week) will address the nation. Clinton and Warren represent two of the most influential wise-women of Democratic politics with the potential to turn out millions of establishment and progressive voters in November.

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Caitlin Owens, Jacob Knutson

10 hours ago - Health

Trump considering order on pre-existing condition protections, which already exist

Photo: Jim Watson/AFP via Getty Images

President Trump announced on Friday he will pursue an executive order requiring insurance companies to cover pre-existing conditions, something that is already law.

Why it matters: The Affordable Care Act already requires insurers to cover pre-existing conditions. The Trump administration is currently arguing in a case before the Supreme Court to strike down that very law — including its pre-existing condition protections.