SoftBank's struggling Vision Fund likely prompted WeWork bailout

SoftBank’s struggling Vision Fund likely prompted WeWork bailout

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In deciding to rescue WeWork, SoftBank likely was motivated by more than just the coworking company’s potential, business experts told Business Insider. The Japanese conglomerate was almost certainly also trying to defend its $100 billion Vision Fund — and better its chances to attract investors to its second Vision Fund. Some of the Vision Fund’s […]

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Panic button measure in Rancho Palos Verdes draws big spending

Panic button measure in Rancho Palos Verdes draws big spending

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The owner of the ritzy Terranea Resort in Rancho Palos Verdes has spent more than $1 million to defeat a ballot measure that would raise resort workers’ salaries and equip employees with panic buttons to help prevent sexual assaults. Campaign finance statements filed since Jan. 1 show that Long Point Development, the owner of the […]

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Brazil’s much-vaunted pension reform passes into law

Brazil’s much-vaunted pension reform passes into law

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Brazil’s Senate approved a much-anticipated pension reform on Tuesday, a victory for President Jair Bolsonaro that paves the way for his economics team to pursue further sweeping changes. Decades in the works, the reform was hailed as “historic” by politicians across the spectrum. It is aimed at restoring domestic and international confidence in Latin America’s largest […]

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Boeing jetliner division chief steps down amid 737 Max crisis

Boeing jetliner division chief steps down amid 737 Max crisis

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Boeing Co. said Kevin McAllister is stepping down as head of its jetliner division amid a crisis engulfing the 737 Max and production snarls with other planes. Stan Deal, the head of Boeing’s global services business, will replace McAllister, the company said in a statement Tuesday. McAllister is the highest-ranking executive to depart since two […]

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Beijing draws up plan to replace Carrie Lam as Hong Kong chief

Beijing draws up plan to replace Carrie Lam as Hong Kong chief

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The Chinese government is drawing up a plan to replace Carrie Lam, Hong Kong’s leader, with an “interim” chief executive following violent protests against her administration, according to people briefed on the deliberations.  The people said that if Xi Jinping, China’s president, decided to go ahead, Ms Lam’s successor would be installed by March and […]

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