WeWork owner creates committee to decide on financing lifeline
* Stories are summarized by an A.I.
* Companies mentioned: We Company, Pensando, RILY, NFLX, HAS, AAPL, and ATVI
WeWork owner creates committee to decide on financing lifeline
We Company | Money Control
The office-space sharing company is establishing the committee in an effort to ring-fence its financing deliberations from SoftBank's influence, the sources said. The committee will only have two members - both We Company board directors with the task of representing the interests of all investors in the company, the sources said. SoftBank has proposed up to a $5 billion investment in WeWork two of the sources said. WeWork may seek to combine the SoftBank and JPMorgan proposals in some form, according to the sources. It is less common for a private company such as WeWork to form a special committee.
Read More
Edge computing startup Pensando comes out of stealth mode with a total of $278 million in funding
Pensando | Tech Crunch
The round was led by Hewlett Packard Enterprise and Lightspeed Venture Partners and brings Pensando’s total raised so far to $278 million. HPE chief technology officer Mark Potter and Lightspeed Venture partner Barry Eggers will join Pensando’s board of directors. But, you know, there’s always other possibilities for monetization events.”)The startup claims its edge computing platform performs five to nine times better than AWS Nitro, in terms of productivity and scale. Pensando prepares data center infrastructure for edge computing, better equipping them to handle data from 5G, artificial intelligence and Internet of Things applications. While in stealth mode, Pensando acquired customers including HPE, Goldman Sachs, NetApp and Equinix.
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Barneys enters deal to sell assets to Authentic Brands, B. Riley for $271 mln cash
RILY (B. Riley Financial Inc.) | Nasdaq
Oct 16 (Reuters) - U.S. luxury department-store chain Barneys New York Inc has reached an agreement to sell its assets to brand developer Authentic Brands Group and investment bank B. Riley Financial Inc RILY.O, according to a filing on Wednesday. The deal comes as a 'stalking horse purchase agreement', with the purchase price estimated to be about $271.4 million in cash, the filing in the U.S. Bankruptcy Court in Poughkeepsie showed. A “stalking horse” bid is used as a starting bid or minimally accepted offer that other interested bidders must surpass if they want to buy the company. Reuters reported on Monday that Barneys, which filed for bankruptcy protection in August, was nearing a deal with Authentic Brands that could lead to Barneys shops opening in Saks Fifth Avenue stores.
Read More
Netflix’s US subscriber growth slowing as competition looms
NFLX (Netflix Inc) | Money Control
Netflix's subscriber growth is bogging down even before the leading video streaming service confronts high-powered threats from Apple and Walt Disney Co. The numbers provided further evidence that Netflix's salad days may be over, particularly in the US, where most households that want its 12-year-old streaming service already have it. Netflix added 6.8 million subscribers worldwide from July through September, below the 7 million customers forecast by the Los Gatos, California, company. The latest miss on US subscriber growth "spells trouble for the company ahead of heightened competition," said eMarketer analyst Eric Haggstrom. He thinks the company could lose about 24 million subscribers, or about 15% of its customers, during the next 18 months.
Read More
World's first Monopoly-themed attraction to open in Hong Kong
HAS (Hasbro Inc.) | CNN
Opening at The Peak on October 26, Monopoly Dreams is said to be the world's first fully immersive attraction inspired by the 84-year-old board game. "The Peak is the most valuable piece of land in the Hong Kong version of Monopoly ... it was why we chose this location to start with," Macci Li, public relations representative for Monopoly Dreams, tells CNN Travel. The new 20,000 square-feet attraction is a collaboration between Hasbro -- Monopoly's owner -- and Monopoly Dreams, a company established to design and create the new Hong Kong attractionPass GoVisitors will first enter Mr. Looks like Monopoly Dreams is already planning to expand. Representatives tell CNN Travel they have started looking for a suitable location in Melbourne, Australia, for a second attraction.
Read More
Report: EU Antitrust Officials Are Looking Into Apple Pay, iPhone NFC Chips
AAPL (Apple Inc.) | Gizmodo
Now those concerns have extended to Apple Pay, with EU antitrust chief Margrethe Vestager’s office probing whether the company’s pre-installed mobile payments software is playing dirty with the competition , Bloomberg reported on Wednesday. European Commission officials asked mobile-payments providers, banks, and app developers in September “about how Apple Inc. devices may favor Apple Pay over other payment solutions,” Bloomberg wrote, citing MLex. Advertisement“In this context, the commission is actively monitoring the development of mobile payment solutions, the behavior by operators active in the payments sector, including mobile payments,” the EU wrote. Last year, Vestager said she was aware of reports that Apple was limiting use of the NFC chip to only cards included in Apple Wallet. Competitors have also complained that Apple refuses to allow competing payment methods into Apple Wallet, as well as the way that the iPhone automatically prompts users with Wallet and Apple Pay interfaces when an NFC signal is received, MLex reported.
Read More
Blizzard bans a college esports team for holding a "Free Hong Kong, Boycott Blizz" sign
ATVI (Activision Blizzard Inc) | CNN
New York (CNN Business) Video game company Activision Blizzard suspended three American University esports players for six months after they held up a "Free Hong Kong, boycott Blizz" sign during their championship match last week. They now cannot compete in official or third-party Blizzard events. The college sophomores, Casey Chambers, Corwin Dark and Torin Wright--all 19 years old and majoring in international studies--prepared a sign in reaction to Ng's ban and showed it on a stream of their college game October 8. Blizzard confirmed to CNN Business Wednesday that it banned the three students after they "knowingly broke" the rules. However, our official broadcast needs to be about the game and the competition, and to be a place where all are welcome."
Read More
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* Companies mentioned: We Company, Pensando, RILY, NFLX, HAS, AAPL, and ATVI
WeWork owner creates committee to decide on financing lifeline
We Company | Money Control
The office-space sharing company is establishing the committee in an effort to ring-fence its financing deliberations from SoftBank's influence, the sources said. The committee will only have two members - both We Company board directors with the task of representing the interests of all investors in the company, the sources said. SoftBank has proposed up to a $5 billion investment in WeWork two of the sources said. WeWork may seek to combine the SoftBank and JPMorgan proposals in some form, according to the sources. It is less common for a private company such as WeWork to form a special committee.
Read More
Edge computing startup Pensando comes out of stealth mode with a total of $278 million in funding
Pensando | Tech Crunch
The round was led by Hewlett Packard Enterprise and Lightspeed Venture Partners and brings Pensando’s total raised so far to $278 million. HPE chief technology officer Mark Potter and Lightspeed Venture partner Barry Eggers will join Pensando’s board of directors. But, you know, there’s always other possibilities for monetization events.”)The startup claims its edge computing platform performs five to nine times better than AWS Nitro, in terms of productivity and scale. Pensando prepares data center infrastructure for edge computing, better equipping them to handle data from 5G, artificial intelligence and Internet of Things applications. While in stealth mode, Pensando acquired customers including HPE, Goldman Sachs, NetApp and Equinix.
Read More
Barneys enters deal to sell assets to Authentic Brands, B. Riley for $271 mln cash
RILY (B. Riley Financial Inc.) | Nasdaq
Oct 16 (Reuters) - U.S. luxury department-store chain Barneys New York Inc has reached an agreement to sell its assets to brand developer Authentic Brands Group and investment bank B. Riley Financial Inc RILY.O, according to a filing on Wednesday. The deal comes as a 'stalking horse purchase agreement', with the purchase price estimated to be about $271.4 million in cash, the filing in the U.S. Bankruptcy Court in Poughkeepsie showed. A “stalking horse” bid is used as a starting bid or minimally accepted offer that other interested bidders must surpass if they want to buy the company. Reuters reported on Monday that Barneys, which filed for bankruptcy protection in August, was nearing a deal with Authentic Brands that could lead to Barneys shops opening in Saks Fifth Avenue stores.
Read More
Netflix’s US subscriber growth slowing as competition looms
NFLX (Netflix Inc) | Money Control
Netflix's subscriber growth is bogging down even before the leading video streaming service confronts high-powered threats from Apple and Walt Disney Co. The numbers provided further evidence that Netflix's salad days may be over, particularly in the US, where most households that want its 12-year-old streaming service already have it. Netflix added 6.8 million subscribers worldwide from July through September, below the 7 million customers forecast by the Los Gatos, California, company. The latest miss on US subscriber growth "spells trouble for the company ahead of heightened competition," said eMarketer analyst Eric Haggstrom. He thinks the company could lose about 24 million subscribers, or about 15% of its customers, during the next 18 months.
Read More
World's first Monopoly-themed attraction to open in Hong Kong
HAS (Hasbro Inc.) | CNN
Opening at The Peak on October 26, Monopoly Dreams is said to be the world's first fully immersive attraction inspired by the 84-year-old board game. "The Peak is the most valuable piece of land in the Hong Kong version of Monopoly ... it was why we chose this location to start with," Macci Li, public relations representative for Monopoly Dreams, tells CNN Travel. The new 20,000 square-feet attraction is a collaboration between Hasbro -- Monopoly's owner -- and Monopoly Dreams, a company established to design and create the new Hong Kong attractionPass GoVisitors will first enter Mr. Looks like Monopoly Dreams is already planning to expand. Representatives tell CNN Travel they have started looking for a suitable location in Melbourne, Australia, for a second attraction.
Read More
Report: EU Antitrust Officials Are Looking Into Apple Pay, iPhone NFC Chips
AAPL (Apple Inc.) | Gizmodo
Now those concerns have extended to Apple Pay, with EU antitrust chief Margrethe Vestager’s office probing whether the company’s pre-installed mobile payments software is playing dirty with the competition , Bloomberg reported on Wednesday. European Commission officials asked mobile-payments providers, banks, and app developers in September “about how Apple Inc. devices may favor Apple Pay over other payment solutions,” Bloomberg wrote, citing MLex. Advertisement“In this context, the commission is actively monitoring the development of mobile payment solutions, the behavior by operators active in the payments sector, including mobile payments,” the EU wrote. Last year, Vestager said she was aware of reports that Apple was limiting use of the NFC chip to only cards included in Apple Wallet. Competitors have also complained that Apple refuses to allow competing payment methods into Apple Wallet, as well as the way that the iPhone automatically prompts users with Wallet and Apple Pay interfaces when an NFC signal is received, MLex reported.
Read More
Blizzard bans a college esports team for holding a "Free Hong Kong, Boycott Blizz" sign
ATVI (Activision Blizzard Inc) | CNN
New York (CNN Business) Video game company Activision Blizzard suspended three American University esports players for six months after they held up a "Free Hong Kong, boycott Blizz" sign during their championship match last week. They now cannot compete in official or third-party Blizzard events. The college sophomores, Casey Chambers, Corwin Dark and Torin Wright--all 19 years old and majoring in international studies--prepared a sign in reaction to Ng's ban and showed it on a stream of their college game October 8. Blizzard confirmed to CNN Business Wednesday that it banned the three students after they "knowingly broke" the rules. However, our official broadcast needs to be about the game and the competition, and to be a place where all are welcome."
Read More
Download Folo, add stock symbols to your watchlist, and get notified.
When you look up U.S or China stock symbols and add them to Watchlist, Folo, an A.I. based news curator will keep you updated with stock news from 270 sources.
Download on the App Store
http://folo.moya.ai
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