WeWork cancels IPO

WeWork has pulled out its application for an initial public offering amid internal chaos. Alexandra Olson and Stan Choe had the news for the AP: WeWork’s new leaders shelved plans to enter the stock market Monday as they sought to repair the battered image of a company that appeared to revolutionize the office-rental industry and […]

WSJ reporters sign contract to write WeWork book

Wall Street Journal reporters Eliot Brown and Maureen Farrell have signed a contract with a Random House imprint to write a book about WeWork, reports Kia Kokalitcheva of Axios. Kokalitcheva writes, “The growing influence of technology companies on the world has made them not only the subjects of regulatory and investor scrutiny, but now also […]

Forever 21 files for bankruptcy court protection

Forever 21 has become the latest retailer to file for bankruptcy protection. Rama Venkat had the news for Reuters: Fashion retailer Forever 21 Inc filed for bankruptcy on Sunday, as it joined a growing list of brick-and-mortar players who have succumbed to the onslaught of e-commerce companies such as Amazon.com Inc (AMZN.O). Since the start […]

McDonald’s to test plant-based burger

McDonald’s has struck a deal with Beyond Meat to test their plant-based burger in Canada. Michelle Chapman had the news for AP: McDonald’s is finally taking a nibble of the plant-based burger. McDonald’s said Thursday that will sell the PLT, or the plant, lettuce and tomato burger for 12 weeks in 28 restaurants in Southwestern […]

Juul CEO steps down

Juul’s chief executive Kevin Burns has stepped down amid a worsening vaping crisis in the U.S. Timothy Annett had the news for Bloomberg:  Juul Labs Inc. said Chief Executive Officer Kevin Burns will step down, as the highly valued private e-cigarette company confronts a growing public backlash. The company said in a statement that K.C. […]

Google wins personal data case in EU

Google won a landmark “right to be forgotten” case against France, which had demanded tougher personal data rules for the company. Foo Yun Chee had the news for Reuters: Google (GOOGL.O) won its fight against tougher “right to be forgotten” rules after Europe’s top court said on Tuesday it does not have to remove links […]

Tour major Thomas Cook goes under

UK’s tour major Thomas Cook stopped trading today after a last-minute push to keep the company going fell through. The BBC had the news: Thomas Cook has collapsed after last-minute negotiations aimed at saving the 178-year-old holiday firm failed. The UK Civil Aviation Authority (CAA) said the tour operator had “ceased trading with immediate effect”. […]

Google plans $3-bln investment in Europe

Google plans to invest $3 billion in the expansion of its data centers in Europe over the next two years. AP had the news: Google’s top boss said Friday the tech giant is planning to invest 3 billion euros to expand its data centers across Europe in the next two years. Chief executive Sundar Pichai […]

Tesla beats Porsche Taycan on its turf

Tesla Model S has beaten Porsche Taycan on the legendary Nuerburgring track in its latest promotional push. Edward Taylor had the news for Reuters: Tesla TSLA wants to steal Porsche’s bragging rights by testing its Model S on the northern loop of Germany’s Nuerburgring circuit, using a marketing tool that German carmakers have long used […]

DoJ charges three JP Morgan traders with price manipulation

Federal prosecutors have indicted two current and one former JP Morgan traders with price manipulation in precious metals. Lawrence Delevingne, Susan Heavey, and Koh Gui Qing had the news for Reuters: The Department of Justice charged two current and one former JPMorgan Chase & Co (JPM.N) executives on Monday with alleged racketeering and manipulating prices […]