WeWork is selling control of its China operations in a deal that further reduces the group’s global footprint after disruption from the coronavirus pandemic compounded its financial woes. Private equity firm Trustbridge Partners, an existing shareholder, is paying $200m to take majority ownership of the venture, which has a presence in 12 Chinese cities. WeWork
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What Is An Operating Expense vs. a Capital Expense? An operating expense (OPEX) is an expense required for the day-to-day functioning of a business. In contrast, a capital expense (CAPEX) is an expense a business incurs to create a benefit in the future. Operating expenses and capital expenses are treated quite differently for accounting and
In this photo illustration, the Interactive Brokers LLC logo seen displayed on a smartphone. Igor Golovniov | LightRocket | Getty Images Market action around the election is expected to be so volatile that Interactive Brokers is forcing clients to put up more money in order to trade using leverage. The retail broker is increasing margin
Peter Wells in New York Missouri governor Mike Parson and his wife both tested positive for coronavirus on Wednesday. Mr Parson’s wife Theresa had been showing cold-like symptoms and took a test earlier today, which came back positive for Covid-19. The governor subsequently took a test, which also yielded a preliminary positive result. Mr Parson,
Business and union leaders have called on employers to do everything possible to limit job losses as the UK faces up to a bleak winter of continued Covid-19 restrictions. In a joint statement, the CBI business group, the Trades Union Congress and Acas, the conciliation service, on Thursday urged companies to “exhaust all possible alternatives”
A command economy is one in which a centralized government controls the means of production. This has has both advantages and disadvantages when compared to a free market economy. An Overview In a command economy, the government determines what is produced, how it is produced, and how it is distributed. Private enterprise does not exist
Investors turned on their favorite group of stocks recently, dumping tech shares in historic numbers and increasing their bets against the sector amid a September sell-off. The move came just before the shares began to stabilize this week, but it remains to be seen whether the bearish tilt represented the kind of capitulation that marks
London is to host the world’s first Covid-19 human challenge trials — in which healthy volunteers are deliberately infected with coronavirus to assess the effectiveness of experimental vaccines. The UK government-funded studies are expected to begin in January at a secure quarantine facility in east London, according to several people involved in the project, which
Like writer Douglas Adams, Elon Musk seems to love the sound of deadlines whooshing by. Two years ago the chief executive of Tesla declared that a $25,000 car model could be three years away. On Tuesday he announced that the low-cost version was in fact another three years away and required a battery overhaul. Shares
Are you a frequent flyer? Do you find even airlines’ first-class service more frustrating than fulfilling? You can charter a jet, but the greatest freedom comes when you own one. Before you buy, though, you should consider whether the investment is truly justified. Depending on size, range, model, and features, a private jet can set you
Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Shares of Carvana jumped after the online used car marketplace said it expects to set records in several categories during its third quarter, including total revenue and retail units sold. Shares were up 24% in premarket trading. The company previously declined to give forward guidance for the
Drug companies will be expected to hit a series of milestones before they are allowed to distribute a coronavirus vaccine, a move that experts say makes it unlikely one will be approved before the US election. The Food and Drug Administration has privately told vaccine makers they want them to comply with a set of
Australia’s NBN Co will spend more than $3bn to roll out superfast broadband to meet surging demand from millions of people working from home due to Covid-19. The A$4.5bn investment in fibre-to-the-home broadband, announced by Canberra on Wednesday, comes amid rising competition for government-owned NBN from 5G mobile technology, which analysts say threatens to erode
Microsoft Corp., one of the world’s biggest tech companies, sells personal computing devices, cloud systems and services, software and other products. Microsoft is listed on the Nasdaq exchange under the ticker symbol, MSFT. The company was founded in 1975 by Bill Gates and Paul Allen in a garage in Albuquerque, New Mexico. Five years later,
An AWS Ground Station satellite antenna at one of the company’s data center in Boardman, Oregon. Amazon Microsoft will offer a new service called Azure Orbital that connects satellites directly to its cloud computing network, the company announced at its Ignite conference Tuesday. The service will begin in a “private preview” to a select group of
The US became the first country in the world to record 200,000 coronavirus deaths since the start of the pandemic, according to figures on Tuesday from one widely-followed data provider. There have been 200,005 deaths attributed to the virus in the US, according to Johns Hopkins University. The Covid-19 pandemic will destroy at least 100m
When I was growing up in Ronald Reagan’s America, the small proxy wars that the US fought with the Soviet Union were a regular feature of the copies of the Boston Globe I delivered every morning. There would be tragic news out of Afghanistan on the front page one day, El Salvador or Nicaragua the
Twilio Inc. (TWLO) shares rose more than 5% after KeyBanc reiterated its Overweight rating and its price target of $330.00 per share. Key Takeaways Twilio shares rose more than 5% on Monday after KeyBanc reiterated its Overweight rating and $330.00 price target. Analyst Alex Kurtz believes that proprietary data for credit and debit cards is
Billionaire media mogul Barry Diller on Tuesday urged investors to maintain sizable cash positions following the stock market’s robust rally from coronavirus-induced lows in late March. “Personally, and professionally, every nickel you can, keep it … wherever it’s banked,” the chairman of both Expedia and digital media group IAC said on CNBC’s “Squawk Box.” Diller noted that IAC in August
Europe’s small market for investing in cannabis is showing signs of life, with a London-based investment firm focused on wealthy individuals hoping to raise the region’s biggest dedicated fund. North America dominates cannabis investment, with 12 out of 14 cannabis-focused exchange traded funds globally listed there, according to data group ETFGI. Returns have often been
The “British spirit” has been invoked to praise the resilience of a populace coping with coronavirus. If that spirit smells of anything, it must be paint thinners, judging from the results of DIY retailer Kingfisher. A surge in home and garden improvements among locked-down Brits lifted first-half UK operating profits 20 per cent above forecasts.
With President Trump’s new tax law, the child tax credit was raised from $1,000 to $2,000 per child for 2018 and 2019. Having qualified dependent children may also allow you to claim other significant tax credits, including the earned income credit (EIC). Together, the tax savings can be significant for many American families. However,
In recent months, three story lines have captivated Wall Street: SPACs, electric vehicle companies and the rise of retail traders. The outsized success of the first two, and novice investors entering the market in record numbers, have led some investors to claim this is an indication of froth. And one name symbolizes all three themes:
A sell-off in shares of HSBC and Standard Chartered deepened as concerns that new waves of coronavirus could stall a global economic recovery hit stocks across Asia-Pacific. Hong Kong-listed shares in HSBC fell 2.9 per cent while those in Standard Chartered were off 2 per cent, taking losses for each of the Asia-focused lenders to
Alice Woodhouse in Hong Kong The global recovery remains on track, despite fears of the economic hit from a “second wave” of infections, according to ANZ economists. Governments have imposed “more modest” restrictions on movement to handle rising infections and countries have seen improved health outcomes, resulting in a smaller hit to economies compared with
When it comes to financing residential real estate, most transactions follow a well-worn process. The seller finds a willing buyer with the required income, employment history and credit score to qualify for a mortgage, and a lending institution puts up the money to finance the deal. But what if traditional financing is unavailable, and buyer
A Deutsche Bank AG flag flies outside the company’s office on Wall Street in New York. Mark Kauzlarich | Bloomberg | Getty Images Financial stocks came under pressure on Monday amid a report that a number of global banks moved allegedly illicit funds over the past two decades despite warnings from U.S. officials. Shares of
Jay Powell, the chairman of the Federal Reserve, will tell Congress that struggling small and medium-sized US businesses hit by the coronavirus pandemic may need “direct fiscal support”, rather than loans from the central bank. In prepared testimony released ahead of his appearance before the House of Representatives financial services committee on Tuesday, Mr Powell
LVMH’s attempt to walk away from its $16.6bn takeover of Tiffany will go to trial in January, after the US jeweller warned that a longer timeline could force it to accept a lower price or lose the deal. In a win for the New York-listed company as it tries to hold its Paris-based suitor to
The steel industry is part of the basic materials sector and consists of companies involved in steel production, mining, and related activities. Although steel historically has been a major U.S. industry, the number of steel mills that produce the metal has declined sharply in the past several decades due to foreign competition. Some of the