WeWork nabbed a fresh $1.1 billion in financing from SoftBank as the coworking giant’s membership dropped

Thursday, 13 August 2020, 23:38:12
WeWork’s membership dropped by 81,000 in the second quarter, per financial information sent to employees on Thursday. The company’s revenue increased 9% year-on-year to $882 million. SoftBank extended another $1.1 billion in debt financing in the second quarter, giving WeWork $4.1 billion in cash and unfunded cash commitments. For more WeWork stories, click here. WeWork saw its membership number fall in the second quarter, but the coworking giant continued to add locations and nabbed a fresh $1.1 billion in financing from SoftBank. The company lost 81,000 memberships over the second quarter, per financial highlights sent to employees on Thursday. The company ended the second quarter with 612,000 memberships, down from 693,000 memberships at the start of the quarter. Now, WeWork’s numbers are more in line with the third quarter of 2019, when it had 609,000 memberships. “The numbers illustrate that similar to virtually every company around the world, COVID-19 has had an impact on our business,” chief financial officer Kimberly Ross wrote in the Thursday email reviewed by Business Insider. “However, they also show our five year plan in action.” WeWork’s revenue ticked up in the second quarter to $882 million, a 9% increase year-on-year, as it continues a long-term restructuring plan.
— Business Insider

America’s Biggest Companies Fear Trump’s WeChat Ban Will Cut Them Off From World’s Largest Market

Thursday, 13 August 2020, 20:30:00
America’s Biggest Companies Fear Trump’s WeChat Ban Will Cut Them Off From World’s Largest Market Tyler Durden Thu, 08/13/2020 – 14:30 Talks between TikTok-owner ByteDance and Microsoft are up in the air, but while seemingly every incremental development about the negotiations becomes front page news in the business press, the business community might actually be more worried about the fate of WeChat, and what the administration’s executive order might mean for members’ bottom line. Because whether Trump likes it or not, China is the world’s biggest market (by population) and second-biggest economy after the US (Chinese economists argue that it’s already larger than the economy of the US) . And WeChat is critical medium through which Chinese consumers perform a multitude of tasks, from paying their bills, to ordering takeout, to shopping online – and so much more. According to a WSJ report, more than a dozen major US multinational companies raised concerns with the administration during a call with White House officials on Tuesday to discuss the scope and impact of Trump’s executive order, which won’t take effect until Sept. 15 .
— Zero Hedge

Merck : Q2 2020 Financial Summary for Investors and Analysts | MarketScreener

Thursday, 13 August 2020, 00:08:08
Q2 2020 Financial Summary for Investors and Analysts Top Line reflects COVID-19 impact, Bottom line well managed Healthcare:… | August 13, 2020
— MarketScreener

Merck : Half-yearly Financial Report 2020 | MarketScreener

Wednesday, 12 August 2020, 23:53:04
2020 HALF-YEARLY FINANCIAL REPORT 2 … | August 12, 2020
— MarketScreener

Impact of COVID-19 on the Global Reversible Contraceptive Devices Market, 2020-2030 – ResearchAndMarkets.com

Wednesday, 12 August 2020, 19:41:00
DUBLIN–(BUSINESS WIRE)–The “Reversible Contraceptive Devices (General Surgery) – Global Market Analysis and Forecast Model (COVID-19 market impact)” report has been added to ResearchAndMarkets.com’s offering. This market model discusses in detail the impact of COVID-19 on Reversible Contraceptive Devices market for the year 2020 and beyond. Companies Mentioned Allergan plc Bayer AG CooperSurgical Inc. Merck & Co Inc. Meril Life Sciences Pvt. Ltd. Pregna International Ltd. Shanghai Dahua P
— Business Wire