#BowX Acquisition Corp

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BowX Acquisition Corp. Ugly Christmas Sweater - EmonShop Review buy Beutee.net! Don't miss out on this amazing deal! Grab your product here

[indiarightnow]

Stocks making the biggest moves in the premarket: MSG Entertainment, BowX Acquisition, Root Inc. & more

Stocks making the biggest moves in the premarket: MSG Entertainment, BowX Acquisition, Root Inc. & more

Take a look at some of the biggest movers in the premarket: BowX Acquisition (BOWX) – The special purpose acquisition company will take office-sharing company WeWork public in a deal worth $9 billion, including debt. Starwood Capital, Fidelity Management and others are involved in the deal as so-called “PIPE” investors. BowX rose 3.6% in the premarket. Ford Motor (F) – The automaker will idle…

[letsjanukhan]

WeWork Shares Rise on First Day of Trading, Two Years After Failed IPO

WeWork Shares Rise on First Day of Trading, Two Years After Failed IPO

WeWork shares rose on their first day of trading Thursday, capping a journey to a listing that included the implosion of its initial public offering in 2019. The shared-office company WeWork went public through a combination with BowX Acquisition Corp. , a special-purpose acquisition company. Shares, trading under the name WeWork Inc., rose about 6% to $11 Thursday morning. In 2019, WeWork’s IPO…

[hellosecretblogger21]

FOX BIZ NEWS: SPAC shareholders approve deal that will take WeWork public

SPAC shareholders approve deal that will take WeWork public

Special purpose acquisition company BowX Acquisition Corp. said Tuesday its shareholders approved the previously announced business combination with shared-workspace company WeWork Inc. via FOX BUSINESS NEWS https://ift.tt/3ncObab

[felishasheats]

Take 2: WeWork sets merger date to take coworking company public

The coworking company is making another run at going public, setting a date for a merger with BowX Acquisition Corp. Take 2: WeWork sets merger date to take coworking company public published first on https://oicrealestate.tumblr.com/

[a2znewsplace]

WeWork's Q2 net loss widens from a year ago but is less than half that of Q1 as recovery accelerates

WeWork’s Q2 net loss widens from a year ago but is less than half that of Q1 as recovery accelerates

WeWork reported Friday a second-quarter net loss that widened slightly from a year ago, but was less than half that of the first-quarter, as the flexible-office-space company said recovery trends that started earlier this year accelerated. WeWork is set to go public by way of a merger with special purpose acquisition company (SPAC) BowX Acquisition Corp. BOWX, -0.40% WeWork reported a net loss of…

[indiarightnow]

WeWork CEO expects strong rebound for shared office space in post-Covid return to work

WeWork CEO expects strong rebound for shared office space in post-Covid return to work

WeWork CEO Sandeep Mathrani told CNBC on Friday the office-sharing firm expects to see a strong recovery in demand as Covid vaccines help control the pandemic. “There’s going to be a huge shift in coming back to work, and we’re a flex provider so we’re completely the person who would see it first because we’re plug-and-play,” Mathrani said on “Squawk Box.” “We’re starting to see, even in New York…

[letsjanukhan]

SPAC Shareholders Approve Deal That Will Take WeWork Public

SPAC Shareholders Approve Deal That Will Take WeWork Public

Shares of the combined company, to be named WeWork, are expected to begin trading on Oct. 21. Photo: Brian Cassella/TNS/Zuma Press Updated Oct. 19, 2021 6:21 pm ET Special purpose acquisition company BowX Acquisition Corp. BOWX -9.90% said Tuesday its shareholders approved the previously announced business combination with shared-workspace company WeWork Inc. BowX said the deal is expected to…

[moneycafe]

WeWork to go public in $9B merger with Vivek Ranadive-led BowX

WeWork to go public in $9B merger with Vivek Ranadive-led BowX

WeWork has now entered into an agreement with Indian-American Vivek Ranadive-led blank-check firm BowX Acquisition Corp., providing for a business combination that will result in the co-sharing workspace company becoming a publicly listed company. The transaction values WeWork at an initial enterprise value of approximately $9 billion, WeWork said on Friday. The move comes after WeWork’s failed…

[mybhkhome]

WeWork CEO, deal sponsor on going public via SPAC

Blank-check firm BowX Acquisition Corp will take office-sharing company WeWork public in a deal worth $9 billion, including debt. Starwood Capital, Fidelity Management and others are involved in the deal as so-called “PIPE,” private investment in public equity, investors. WeWork CEO Sandeep Mathrani and Vivek Ranadive, Bow Capital founder and managing director, joined "Squawk Box" on Friday to discuss the deal. https://www.cnbc.com/video/2021/03/26/wework-ceo-deal-sponsor-on-going-public-via-spac.html

[dailypapernews]

After Failing Miserably the First Time, WeWork Merges With NBA Owner's SPAC for Second Shot at Going Public

After Failing Miserably the First Time, WeWork Merges With NBA Owner’s SPAC for Second Shot at Going Public

The coworking startup gets a new lease on shareholder life thanks to BowX Acquisition Corp. Grow Your Business, Not Your Inbox Stay informed and join our daily newsletter now! March 26, 2021 2 min read Lest you thought SPACs were the sole domain of adult-website hosts or Grand Slam-winning tennis stars, they are also the hot commodities tool of choice for NBA stars and franchise…

[orbemnews]

China boycotts are a warning to Western brands Dozens of Chinese celebrities have terminated contracts or said they’ll cut ties with the brands, while H&M, the world’s second largest clothing retailer, has been pulled from major e-commerce sites. Investor insight: Nike shares tumbled more than 3% Thursday on Wall Street, while Adidas sank more than 6% in Frankfurt. In London, Burberry lost more than 4%. H&M’s stock also slid nearly 2% in Sweden. The outrage was triggered by a social media post from a group linked to the ruling Communist Party, which resurfaced a statement H&M made in September about reports of forced labor in Xinjiang. State media has since targeted other major brands that have previously spoken out. Human rights groups have repeatedly accused Beijing of detaining Uyghurs and other Muslim minority groups in “re-education” camps where they’re forced to make products that find their way into global tech and retail supply chains. Recent sanctions from the United States and other Western countries over Xinjiang have sparked renewed pushback from the Chinese government, which calls the camps “vocational training centers” designed to combat poverty and religious extremism. Blowback in China against companies that have spoken out on Xinjiang may pass, according to Bernstein analyst Aneesha Sherman. Shares of H&M rose 1% in early trading Friday, while Nike’s stock is up roughly 1.5% in premarket trading. But the episode is a reminder of the challenges Western brands face as they court the immense spending power of Chinese consumers. “It’s a tough position to manage, because they can’t really back down on their [stances], but at the same time they want to make sure they don’t abandon the Chinese customer,” Sherman told me. China accounted for roughly 5% of H&M’s sales in 2019. Sherman estimates that figure grew to about 10% in 2020, as China’s economy recovered faster from coronavirus than its home market of Europe. “In a year like this, even taking a 5% haircut off the top line is a big hit when H&M is trying to recover,” Sherman said. Luxury brands like Burberry are even more exposed, she added. Burberry listed “any significant change to Chinese consumer spending habits” as a key risk to sales in its most recent annual report. Big picture: The US-China tensions that gained prominence during the Trump era haven’t gone away, with the Biden administration and allies taking a hard line with Beijing. That creates challenges for Western companies that operate in the Chinese market. “It does affect these brands,” Sherman said. Plus, weeks like this only strengthen the hand of local competitors, which are more tapped in to regional tastes and can avoid politically-generated controversy, she noted. This powerful oil lobby has changed its tune on a carbon tax The oil industry’s most powerful lobby announced Thursday that it will support setting a price on carbon for the first time, a significant shift that underlines intensifying pressure on Washington and business to tackle the climate crisis. But the devil will be in the details, my CNN Business colleague Matt Egan reports. The American Petroleum Institute laid out a series of principles that must be met before the century-old group endorses a price on carbon. Advocates of carbon pricing say it’s crucial to fighting the climate crisis, since it would accelerate efforts to curb planet-warming emissions and force investors, companies and individuals to bear the cost of pollution. But API opposed the last serious effort to impose a price on carbon in 2010. Since then, ExxonMobil, Chevron and other industry leaders have publicly backed carbon pricing — clearing the way for others to follow. “This is a pretty big deal for the industry. There is broad recognition that obviously the country has to do something on climate change,” API CEO Mike Sommers told CNN Business. “We want to be a willing partner with the Biden administration and others in Congress who are serious about taking on this challenge.” Still, there’s skepticism among climate groups that API’s change of heart will translate to its backing of meaningful legislation. “A statement of theoretical support for a market-based carbon price is a long way from agreeing to what will likely need to be strong, binding rules to limit fossil fuel usage [and] methane emission,” Dylan Tanner, executive director of InfluenceMap, a think tank focused on energy and climate change, said in a statement. WeWork is finally going public by merging with a SPAC It’s been 18 months since WeWork scrapped its plans to go public after a disastrous IPO attempt. Now the coworking space provider appears ready to try again. The latest: The Wall Street Journal was first to report that WeWork has agreed to merge with a special-purpose acquisition company, or SPAC. The merger with BowX Acquisition Corp. would value WeWork at $9 billion. That’s a fraction of the $47 billion private market valuation the company fetched previously. Remember: WeWork was plunged into crisis in 2019 as investors combed through the company’s IPO paperwork, which revealed former CEO Adam Neumann’s unchecked power and numerous potential conflicts of interest, as well as the startup’s staggering losses. The company was forced to postpone its IPO, accept a bailout from SoftBank and reconfigure its business. Now, it could raise money by tapping into the SPAC boom. In recent months, investors have raced to set up so-called “blank check” companies, which exist purely to find private companies to merge with, effectively taking them public. Details, details: BowX Acquisition Corp., which raised $420 million from investors last year, is led by Vivek Ranadivé, who founded Tibco Software and now owns the Sacramento Kings. Ranadivé will join WeWork’s board. Up next Personal income and spending data for February posts at 8:30 a.m. ET, along with a key measure of inflation. Coming next week: The US jobs report for March is a crucial economic indicator as the recovery gathers steam. Source link Orbem News #boycotts #brands #China #investing #Premarketstocks:ChinaboycottsareawarningtoWesternbrands-CNN #warning #Western

[dipulb3]

China boycotts are a warning to Western brands

New Post has been published on https://appradab.com/china-boycotts-are-a-warning-to-western-brands/

China boycotts are a warning to Western brands

Dozens of Chinese celebrities have terminated contracts or said they’ll cut ties with the brands, while H&M, the world’s second largest clothing retailer, has been pulled from major e-commerce sites.

Investor insight: Nike shares tumbled more than 3% Thursday on Wall Street, while Adidas sank more than 6% in Frankfurt. In London, Burberry lost more than 4%. H&M’s stock also slid nearly 2% in Sweden.

The outrage was triggered by a social media post from a group linked to the ruling Communist Party, which resurfaced a statement H&M made in September about reports of forced labor in Xinjiang. State media has since targeted other major brands that have previously spoken out.

Human rights groups have repeatedly accused Beijing of detaining Uyghurs and other Muslim minority groups in “re-education” camps where they’re forced to make products that find their way into global tech and retail supply chains.

Recent sanctions from the United States and other Western countries over Xinjiang have sparked renewed pushback from the Chinese government, which calls the camps “vocational training centers” designed to combat poverty and religious extremism.

Blowback in China against companies that have spoken out on Xinjiang may pass, according to Bernstein analyst Aneesha Sherman. Shares of H&M rose 1% in early trading Friday, while Nike’s stock is up roughly 1.5% in premarket trading.

But the episode is a reminder of the challenges Western brands face as they court the immense spending power of Chinese consumers.

“It’s a tough position to manage, because they can’t really back down on their [stances], but at the same time they want to make sure they don’t abandon the Chinese customer,” Sherman told me.

China accounted for roughly 5% of H&M’s sales in 2019. Sherman estimates that figure grew to about 10% in 2020, as China’s economy recovered faster from coronavirus than its home market of Europe.

“In a year like this, even taking a 5% haircut off the top line is a big hit when H&M is trying to recover,” Sherman said.

Luxury brands like Burberry are even more exposed, she added. Burberry listed “any significant change to Chinese consumer spending habits” as a key risk to sales in its most recent annual report.

Big picture: The US-China tensions that gained prominence during the Trump era haven’t gone away, with the Biden administration and allies taking a hard line with Beijing. That creates challenges for Western companies that operate in the Chinese market.

“It does affect these brands,” Sherman said. Plus, weeks like this only strengthen the hand of local competitors, which are more tapped in to regional tastes and can avoid politically-generated controversy, she noted.

This powerful oil lobby has changed its tune on a carbon tax

The oil industry’s most powerful lobby announced Thursday that it will support setting a price on carbon for the first time, a significant shift that underlines intensifying pressure on Washington and business to tackle the climate crisis.

But the devil will be in the details, my Appradab Business colleague Matt Egan reports. The American Petroleum Institute laid out a series of principles that must be met before the century-old group endorses a price on carbon.

Advocates of carbon pricing say it’s crucial to fighting the climate crisis, since it would accelerate efforts to curb planet-warming emissions and force investors, companies and individuals to bear the cost of pollution.

But API opposed the last serious effort to impose a price on carbon in 2010. Since then, ExxonMobil, Chevron and other industry leaders have publicly backed carbon pricing — clearing the way for others to follow.

“This is a pretty big deal for the industry. There is broad recognition that obviously the country has to do something on climate change,” API CEO Mike Sommers told Appradab Business. “We want to be a willing partner with the Biden administration and others in Congress who are serious about taking on this challenge.”

Still, there’s skepticism among climate groups that API’s change of heart will translate to its backing of meaningful legislation.

“A statement of theoretical support for a market-based carbon price is a long way from agreeing to what will likely need to be strong, binding rules to limit fossil fuel usage [and] methane emission,” Dylan Tanner, executive director of InfluenceMap, a think tank focused on energy and climate change, said in a statement.

WeWork is finally going public by merging with a SPAC

It’s been 18 months since WeWork scrapped its plans to go public after a disastrous IPO attempt. Now the coworking space provider appears ready to try again.

The latest: The Wall Street Journal was first to report that WeWork has agreed to merge with a special-purpose acquisition company, or SPAC.

The merger with BowX Acquisition Corp. would value WeWork at $9 billion. That’s a fraction of the $47 billion private market valuation the company fetched previously.

Remember: WeWork was plunged into crisis in 2019 as investors combed through the company’s IPO paperwork, which revealed former CEO Adam Neumann’s unchecked power and numerous potential conflicts of interest, as well as the startup’s staggering losses.

The company was forced to postpone its IPO, accept a bailout from SoftBank and reconfigure its business.

Now, it could raise money by tapping into the SPAC boom. In recent months, investors have raced to set up so-called “blank check” companies, which exist purely to find private companies to merge with, effectively taking them public.

Details, details: BowX Acquisition Corp., which raised $420 million from investors last year, is led by Vivek Ranadivé, who founded Tibco Software and now owns the Sacramento Kings. Ranadivé will join WeWork’s board.

Up next

Personal income and spending data for February posts at 8:30 a.m. ET, along with a key measure of inflation.

Coming next week: The US jobs report for March is a crucial economic indicator as the recovery gathers steam.

[cufeed]

WeWork agrees to go public via $9 billion SPAC deal

WeWork agrees to go public via $9 billion SPAC deal

© Reuters. FILE PHOTO: A man walks out of a WeWork space in the Manhattan borough of New York City (Reuters) – WeWork has agreed to go public through a merger with blank-check firm BowX Acquisition Corp that values the office-sharing startup at $9 billion including debt, the Wall Street Journal reported on Friday, citing people familiar with the matter. The company disclosed to prospective…