SoftBank seeks help from its COO to turn WeWork around - Bloomberg
(Reuters) - Japan's SoftBank Group Corp is seeking the help of its chief operating officer, Marcelo Claure, to turn around WeWork, Bloomberg reported https://bloom.bg/2mi8bNz on Friday. Claure, who is also the former chief executive of Sprint Corp and remains its executive chairman, has been asked by SoftBank Chief Masayoshi Son to take a 'more hands-on role' at WeWork, according to the report, which cited people familiar with the matter. Claure will help WeWork's new leadership identify revenue and cost-saving opportunities, Bloomberg reported, adding that a decision on his exact role has not been made yet.
(Reuters) - Japan's SoftBank Group Corp <9984.T> is seeking the help of its chief operating officer, Marcelo Claure, to turn around WeWork, Bloomberg reported https://bloom.bg/2mi8bNz on Friday.
Claure, who is also the former chief executive of Sprint Corp
Claure will help WeWork's new leadership identify revenue and cost-saving opportunities, Bloomberg reported, adding that a decision on his exact role has not been made yet.
The report comes as WeWork's parent We Company postponed its initial public offering last week after investor scrutiny over widening losses and corporate governance, as well as a business model that relies on long-term liabilities and short-term revenue.
WeWork's directors voted on Tuesday to oust Adam Neumann as chief executive after a failed attempt to take the office-sharing startup public.
WeWork and SoftBank did not immediately respond to Reuters' requests for comment on the report.
(Reporting by Anurag Maan in Bengaluru; Editing by Sandra Maler)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.