Page 2 - Work Inc News Today

Financial literacy event scheduled

Industrial facilities like the $400 million Trex plant, the Synthesia Technology thermal/acoustic insulation plant and the Fiocchi primer complex are under construction now at the Little Rock Port.

WeWork Inc. has refused to buy back its 27% stake in WeWork India, which is owned by the Embassy Group. The company sought insolvency protection under Chapter 11 of the US Bankruptcy Code. WeWork India, which WeWork Inc. owns about 27% of, has been one of the companys fastest-growing affiliates outside of the US. The remaining 73% is owned by the Embassy Group.

WeWork India had offered to buy back the stake held by the parent company after the global counterpart sought insolvency protection under Chapter 11 of the US Bankruptcy Code earlier last month.

Bringing Taiwan to the World and the World to Taiwan

Take our business and investing quiz to test your recall for the week ending Nov. 10

The reluctance of workers to return to offices — particularly in the US — has created a surfeit of downtown commercial property. But demand for hybrid working is stronger than ever, which opens possibilities for WeWork that has pared down debt. Rival IWG reported a 7% increase in quarterly revenue and falling net debt

In WeWork India, Embassy Group holds 73 per cent stake, while WeWork Global has a 27 per cent shareholding.

Things started moving downhill for the company way back in 2019 when WeWorks desperate efforts to raise money in a public listing took a hit on its reputation, resulting in the ousting of co-founder Adam Neumann.

WeWork India on Tuesday said it operates independently and WeWork Global's bankruptcy filing in the US will not impact its stakeholders in India.