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July 7, 2020
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Take Five: Pump it up

Reuters
(Reuters) – 1/ROBINHOOD AND THE MERRY TRADERS FILE PHOTO: Traders arrive for work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. REUTERS/Brendan......
Reuters - Business

Google’s new rules clamp down on discriminatory housing, job ads

Reuters
FILE PHOTO: The logo of Google is seen in Davos, Switzerland Januar 20, 2020. REUTERS/Arnd Wiegmann OAKLAND, Calif. (Reuters) – Alphabet Inc’s (GOOGL.O) Google said on Thursday it was tackling unlawful discrimination by barring housing, employment and credit ads from being targeted to its users based on their postal code,......
Reuters - Business

Macau gambling king Stanley Ho dies aged 98

Reuters
HONG KONG (Reuters) – Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia’s richest men, died peacefully at the age of 98, his family confirmed on Tuesday. The flamboyant tycoon, who loved to dance and advised his......
Reuters - Business

Casino king Stanley Ho: the man who built the gambling hub of Macau

Reuters
HONG KONG (Reuters) – Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia’s richest men, died on Tuesday at the age of 98. FILE PHOTO: Hong Kong tycoon Stanley Ho looks out from the Macau Ferry Terminal......
Reuters - Business

With remote work plan, Facebook dashes hopes of paycheck arbitrage

Reuters
SAN FRANCISCO (Reuters) – With Facebook’s adoption of permanent remote work on Thursday, Chief Executive Mark Zuckerberg has untethered one of Silicon Valley’s biggest companies from the place that incubated it. But he also dashed a Silicon Valley dream: that tech workers would be able to take their generous salaries......
Reuters - Business

U.S. existing home sales post largest decline in nearly 10 years

Reuters
WASHINGTON (Reuters) – U.S. home sales logged their biggest drop in nearly 10 years in April as the novel coronavirus pandemic upended the labor market and broader economy, undercutting demand for housing. FILE PHOTO: Construction workers build a single family home in San Diego, California, U.S. February 15, 2017. Picture......
Reuters - Business

WeWork reports slower cash burn in first quarter: CFO email

Reuters
(Reuters) – The We Company, owner of WeWork, said on Thursday that for the first time quarterly revenue surpassed $1 billion and cash burn improved 60% sequentially, but the money-losing shared office operator did not mention profitability in an email to employees that was reviewed by Reuters. FILE PHOTO: An......
Reuters - Business

WeWork reports higher free cash flow in first quarter: CFO email

Reuters
FILE PHOTO: An empty Wework office is seen after California issued a stay-at-home order as the spread of the coronavirus disease (COVID-19) continues, in Los Angeles, California, U.S., April 3, 2020. REUTERS/Lucy Nicholson (Reuters) – The We Company, owner of WeWork, said on Thursday that for the first time quarterly......
Reuters - Business

WeWork reports improved free cash flow in first quarter: CFO’s email

Reuters
FILE PHOTO: An empty Wework office is seen after California issued a stay-at-home order as the spread of the coronavirus disease (COVID-19) continues, in Los Angeles, California, U.S., April 3, 2020. REUTERS/Lucy Nicholson (Reuters) – The We Company, owner of WeWork, said its first-quarter free cash outflow grew 60% sequentially,......
Reuters - Business

Hyatt to lay off 1,300 employees as pandemic cripples travel

Reuters
FILE PHOTO: The window curtains are uniformily closed at a Hyatt hotel that is completely closed to guests during the coronavirus disease (COVID-19) outbreak, in Washington, U.S. May 8, 2020. REUTERS/Jonathan Ernst (Reuters) – Hyatt Hotels Corp (H.N) said late Monday it would lay off 1,300 people globally as it......
Reuters - Business

Hyatt to restructure and lay off 1,300 employees

Reuters
FILE PHOTO: The window curtains are uniformily closed at a Hyatt hotel that is completely closed to guests during the coronavirus disease (COVID-19) outbreak, in Washington, U.S. May 8, 2020. REUTERS/Jonathan Ernst (Reuters) – Hyatt Hotels Corp (H.N) said late Monday it would restructure roles and lay off employees across......
Reuters - Business

WeWork directors seek to preserve right to sue owner SoftBank

Reuters
(Reuters) – A special committee of WeWork board members filed a motion in Delaware on Monday to prevent it from being disbanded, as it pursues legal action against majority owner SoftBank Group Corp (9984.T) over an abandoned $3 billion tender offer for the office space-sharing start-up. FILE PHOTO: A WeWork......
Reuters - Business

Duterte says sorry to Philippine tycoons, their firms’ shares surge

Reuters
MANILA (Reuters) – Philippine President Rodrigo Duterte has apologised for his “hurting words” about two tycoons whom he openly dislikes, responding to their help in fighting the coronavirus by offering an olive branch to settle a costly regulatory row. FILE PHOTO: Philippine President Rodrigo Duterte attends a plenary session at......
Reuters - Business

WeWork co-founder Neumann sues SoftBank over failed tender offer

Reuters
FILE PHOTO: Adam Neumann, chief executive officer of U.S. co-working firm WeWork, speaks during a signing ceremony in Shanghai, China April 12, 2018. Picture taken April 12, 2018. Jackal Pan via REUTERS/File Photo (Reuters) – WeWork co-founder Adam Neumann filed a lawsuit against Japan’s SoftBank Group Corp and its Vision......

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