Rudy Giuliani filed for bankruptcy Thursday, days after a jury ordered him to pay a staggering $148 million to two ex-Georgia election workers Giuliani baselessly accused of committing fraud in the 2020 election. Giuliani’s Chapter 11 petition, filed in U.S. bankruptcy court in New York, lists between $1 million and $10 million in assets and … Read more
Bird has filed for Chapter 11 bankruptcy, capping off a turbulent year for the electric scooter company. In a press release today, Bird confirmed that it had entered into a “financial restructuring process aimed at strengthening its balance sheet,” with the company continuing to operate as normal in pursuit of “long-term, sustainable growth.” Founded in … Read more
COLOMBO, Sri Lanka — The Asian Development Bank said Friday that it has approved $200-million concessional loan to debt-stricken Sri Lanka to help stabilize the country’s finance sector following an unprecedented economic crisis that engulfed the Indian Ocean island nation last year. The bank’s announcement comes as Sri Lanka is awaiting International Monetary Fund approval … Read more
TOKYO — Japanese technology company SoftBank Group Corp. racked up a huge loss in the July-September quarter as its technology investments, most notably office-sharing company WeWork, went sour. Tokyo-based SoftBank loss totaled 931 billion yen ($6.2 billion) in the last quarter, a reversal from the 3 trillion yen profit it posted in the same period … Read more
/cdn.vox-cdn.com/uploads/chorus_asset/file/23988696/acastro_STK068_weWork_01.jpg)
Co-working office space provider WeWork has filed for bankruptcy covering its locations in the US and Canada, and in a filing, it said it had liabilities of between $10 and $50 billion. It’s the latest turn for a company that went from being valued at $47 billion in January 2019 to unsuccessfully attempting an IPO … Read more
WeWork has filed for bankruptcy. The move comes as the company is squeezed by mounting debts, high interest rates, and an increasing number of people working from home. WeWork filed for Chapter 11 protections, the company announced Monday night. The process allows a company to continue operating as it reorganizes. WeWork locations overall will remain … Read more
WeWork could file for bankruptcy as early as next week, according to Reuters and the Wall Street Journal. Frankly, we are not surprised at this result for the former venture darling. WeWork’s shares were down 49.7% in early morning trading on Wednesday, bringing its market capitalization to just $61 million. That’s a ludicrous drop considering … Read more
WeWork is on the verge of filing for Chapter 11 bankruptcy in New Jersey, according to sources cited by The Wall Street Journal. If WeWork does indeed file, it shouldn’t come as a shock to close followers of the flexible workspace provider. WeWork warned in August in its second-quarter earnings that “substantial doubt exists about the … Read more
Chinese electric vehicle startup WM Motor has filed for bankruptcy, an example of yet another once-promising EV upstart that has been pushed to insolvency as bigger players gain market share and Chinese spending on big ticket items dwindles. WM Motor, backed by Baidu and Tencent, was one of the most well-funded EV startups in China, … Read more
Touch upon this storyComment China’s gargantuan financial system has come out of three years of “zero covid” insurance policies not with a roar, as many inside and out of doors the nation had hoped, however with a whimper. The financial system will likely be fortunate to hit the federal government’s 5 p.c development goal this … Read more