caption WeWork cofounder Adam Neumann. source WeWork; Jackal Pan/Getty images; Samantha Lee/Business Insider WeWork has been in turmoil since it filed its public-offering paperwork in August. In one month, the coworking company cut its valuation down to as low as $10 billion from $47 billion, removed Adam Neumann as CEO, and delayed its initial public offering indefinitely. Visit Business Insider’s homepage for more stories. What just happened to WeWork? Attempting to go public this month stirred up a lot of drama – in finances and leadership – for the nine-year-old coworking company. Here’s a 30-second explanation of what’s going on: caption A common area in the Dalian Lu WeWork in Shanghai. source WeWork WeWork publicly filed its IPO paperwork on August 14. “The We Company” was described as an umbrella with three major arms: WeWork, WeLive, and WeGrow. After the filing, WeWork faced intense … [Read more...] about The WeWork IPO fiasco of 2019, explained in 30 seconds
Explaining unit circle
NEW YORK: The strength of the U.S. dollar has long been a thorn in President Donald Trump's side. That has put the almost unthinkable scenario of currency intervention up for debate in global foreign exchange circles.Forcibly halting the U.S. dollar's strength would be a drastic step, not deployed in more than three decades.The last big concerted effort to weaken the dollar was after the Plaza Accord in 1985 when five of the largest industrialized countries agreed to act to bring down the value of the dollar.Most recent FX interventions by policymakers in developed economies have been to address currencies getting out of whack from historical exchange rates or to counter disorderly markets.Analysts agree that while the possibility of a unilateral intervention in currency market by the United States is low it is not completely unthinkable."I think with this administration the mantra always has to be 'everything is on the table'," Gennadiy Goldberg, senior interest rates strategist at TD … [Read more...] about Explainer: US dollar intervention: What would it take?
Re-engineering the Comelec There is only one god, and his name is Death. And there is one thing we say to Death: Not today.” This is what the character Syrio Forel told Arya Stark in Season 1 of the “Game of Thrones” when this Emmy-awarded TV series first aired in 2011. Forel is the character master sword-fighter and instructor hired by the Lord of Winterfell, Eddard Stark to train his daughter Arya. Eight years later, the Red Priestess Melisandre repeated Syrio’s wisdom to Arya about what she should say to the god of Death during the Battle of Ice and Fire in Season 8 of the just ended “Game of Thrones” HBO TV series. To which Arya responded: “Not today.” Perhaps, James Jimenez, the official spokesman of the Commission on Elections (Comelec), is still captivated – like millions of the global fans of the “Game of Thrones” or GOT for short that ended its series last Monday. The next day, … [Read more...] about Re-engineering the Comelec
‘We’re not very religious but we’re spiritual,’ Ivy Almario says. ‘It’s really nice to be married to a person who can be your friend because you have the same values, so then chillax na kayo.’ This is a home filled with love. You can feel it in the padded walls with Jacobean motifs, it floats in the living spaces that are closed to the world outside with matchstick blinds, it bounces off the light from lamps shaped like ginger jars, it wafts to the second floor where the bedrooms are, where the landing has framed photos and letters from the turn of the 20th century which are affixed with American colonial-era stamps. This is the home of designer Ivy Almario and businessman Yong Nieva — everyone’s marriage and relationship goals… and tango inspiration. Located in the busy and noisy Makati central business district and surrounded by office and residential buildings, they’ve managed to create a love nest in this … [Read more...] about The look of love in Ivy Almario and Yong Nieva’s home
MANILA, Philippines — Unofficial results of the midterm elections showed big wins for President Duterte’s candidates, indicating a resounding public endorsement of his rule, political analysts said. Nine of 12 available seats in the all-important Senate looked set to go to pro-Duterte candidates and the rest to independents, unofficial tallies showed, as the opposition that campaigned against his strongman approach failed to make the cut. Monday’s ballot for more than 18,000 posts, among them hundreds of mayors, governors and congressmen, was billed as a referendum on the firebrand president, with special focus on his bid to consolidate power in an upper house that has not always worked in his favor. A Senate majority would cut the chance of censures and house investigations against his government, making it easier to co-opt independents and remove the few remaining hurdles to an ambitious agenda for massive infrastructure spending, re-drafting the Constitution and … [Read more...] about Duterte gets midterm thumbs up as allies rule