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FirstFT: WeWork finally becomes a public company

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WeWork is finally Debut on the stock market After the $ 9 billion merger was approved by shareholders of a blank check company, the real estate group’s turbulent two-year public journey has come to an end.

Shareholders of BowX Acquisition, or Spac, a listed special purpose acquisition company, voted in favor of a deal with WeWork yesterday, allowing New York-based shared office space providers to trade on the New York Stock Exchange under ticker WE starting Thursday. I did it. ..

WeWork will become a public company with a much more humble profile than it did when it first tried in 2019, with its $ 9 billion valuation a few months before SoftBank failed to go public. It’s just a small portion of the $ 47 billion we valued. BowX’s share price fell 7% yesterday.

The company has sought to reassure investors and the general public that it has eased some of the excesses scrutinized in its last listing attempt. Adam Neumann, founder and chief executive officer of the coworking group, was banished in 2019 and replaced by real estate veteran Sandeep Mathrani.

What do you think about WeWork finally making its debut on the stock market?Please write to me emily.goldberg@ft.com Please tell us your thoughts. Thank you for reading FirstFT Asia. This is the rest of today’s news — Emily

5 more stories in the news

1. J & J spends $ 1.4 billion on legal action over cancer claims Johnson & Johnson spends $ 1.4 billion Controversial legal action He set up a subsidiary to manage billions of dollars in talc-related claims and pushed it into the bankruptcy of Chapter 11, said Joseph Wolk, chief financial officer of a health products company, yesterday.

2. Another Chinese developer default Sinic Holdings added to Default increasing list Throughout the country’s contracted real estate sector, as developer Evergrande prepares the market for this weekend’s deadline to settle interest payments on offshore bonds.

3. Brussels vows to punish Poland for challenging EU law Ursula von der Reyen, President of the European Commission, Vowed to punish Warsaw Against this month’s Polish court ruling challenged the superiority of EU law after declaring that some EU law did not conform to the national constitution.

4. The FBI searches the US home of Oleg Deripaska in Russia The agency is Find a home in Washington It has rekindled US coercion against the oligarchs sanctioned in 2018 over the alleged link to the Russian metal tycoon Kremlin.

5. Japan warns about the survival of the chip industry Takayuki Kobayashi, the newly created Minister of Economic Security, Interview with the Financial Times His country’s semiconductor industry is destined unless the government is in line with the long-term strategic vision presented in the United States and China.

  • More supply chain issues: The World’s Largest Automakers Can Face Potentially Inconvenient Aluminum shortage, Because China’s power crisis threatens the supply of key components used in the manufacture of lightweight metals.

Coronavirus digest

  • Singapore Will be able to Travel without quarantine After closing the border for nearly 21 months, he has worked in 10 countries, including the United States, United Kingdom, Canada, France and Italy.

  • Executives RegeneronThe Biotechnology Group for Covid-19 antibody therapy Unfounded claim If Colin Powell had been injected with the drug, his life would have been saved.

  • Brussels Seeking Expand Relaxation of state aid rules after the end of the year, according to EU competition chief Margrethe Vestager.

  • NS U.S. drug regulator Is set to announce that it will support individuals who receive Different Covid-19 vaccine Because there was a booster shot than the original jab. (FT, CNN)

Sign up Newsletter on the road to recovery Insights on how pandemics are changing business and the international economy.

The day before

China policy rate Traders and analysts are from the People’s Bank of China Stabilize benchmark lending rate According to a recent survey, when the decision was announced today. (Reuters)

Federal Reserve Beige Book Report The central bank of the United States update As for today’s economic situation, it could solidify expectations about the timing of the first US interest rate rise since the pandemic began.

Revenue Tesla will be one of the companies reporting revenue today as it prepares to open. Gigafactory in Germany‘. Also look at Biogen, Carrefour, Deliveroo, IBM, Nasdaq, Nestré, Verizon Communications and more.View the complete list here..

FT NextGen brings together the best and brightest of the next generation for a day full of riveted panels, keynotes and audience attendance. Join us online on October 28th to attend our free drink reception at the London Brewery...

What else are you reading

American political elite and business elite split into China In Washington, Beijing’s vigilance is closest to bipartisan truth, with legislators clamoring for China’s interests in artificial intelligence and hypersonic missiles. Written by Janan Ganesh.. But after Wall Street, commercial obligations have been reclaimed.

Which group do you think is taking the right approach to China? Washington or Wall Street?Please tell me the latest information vote..

Saudi Arabia kicks job market More and more women Take on the job In a conservative kingdom, despite broader crackdowns on opposition that swept women activists, it turned retailers into one concrete success of Crown Prince Mohammed Bin Salman’s ambitious economic reform plan. The trend that brought about.

Port agreement heightens Greece’s anxiety over its ties with China This month, the Pizzeria Port Authority handed an additional 16% of its stake to Costco. China’s National Shipping Group, Purchased 51% of Greek ports in August 2016. The deal raises EU concerns over China’s growing involvement in European infrastructure.

Help Big Tech Workers Whistle From Deep Throat in Watergate to Edward Snowden, whistleblowers have most often been cast as principled loneliness who felt they had to confront the crowd. However, Supports casting Organizations with lawyers, researchers and spokespersons have emerged to assist them.

“Squid Game” hits raise Netflix stakes in broadband battles When Netflix first launched Squid gameI rarely expected Korean dramas to be the launch of the most popular show ever for a US streaming company. Nevertheless, Flood of network traffic You’re ready for higher internet billing and video subscription fees.

Food and drink

A delicious melange influenced from all over Southeast Asia, Singapore’s traditional cuisine is the ultimate in comfort.This is Where to find them in the best places..

Old Chanley Laksa

Old Chanley Laksa © Arabelle Zhuang

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