WeWork, the SoftBank Group-backed startup whose meteoric rise and fall reshaped the office sector globally, sought U.S. bankruptcy protection. Notably, bets on companies using more of its office-sharing space soured. The move represents an admission by SoftBank, the Japanese technology group that owns about 60% of WeWork and has invested billions of dollars in its turnaround, that the company cannot survive unless it renegotiates its pricey… read-more
Courtesy: News 18
The US International Development Finance Corporation (DFC) recently announced to invest $37.5 million (Rs 299 crorea) to support key sectors in India. The investment is expected to fuel the growth of businesses working in sectors like financial services, agriculture, healthcare, and climate. The company announced the investment in their current FY Quarter, as a form of political risk insurance product and financial instrument for various… read-more
Courtesy: First Post
Indian-origin American Raj Subramaniam to head FedEx as the Chief Executive Officer (CEO.) FedEx current Chairman and CEO Frederick W Smith on March 28 announced his resignation. Smith said, "As we look toward what's next, I have a great sense of satisfaction that a leader of the caliber of Raj Subramaniam will take FedEx into a very successful future". Subramaniam will take over as CEO from June 1.