IWG maintains full-year guidance amid US listing talk May 7, 2024 Wework rival IWG has said it is on track to meet full-year profit and debt reduction forecasts after warnings over rising costs in March.
WeWork announces partnership with Manchester City September 14, 2021 Workspace provider WeWork has announced a partnership with Manchester City and its sister club New York City FC, including workspace for London-based employees. Manchester City employees based in London and Singapore will be able to access the firm’s workspace whenever desired and be able to access additional flexible space at global locations. New York City [...]
WeWork to trade from Thursday after BowX merger October 20, 2021 Office-space provider WeWork is expected to start trading on the New York Stock Exchange from Thursday after a $9bn merger with special-purpose acquisition company (Spac) BowX Acquisition. As reported by the Financial Times, WeWork’s $9bn market evalutation is a fraction of the initial $47bn at which was listed before tanking its initial listing in 2019. [...]
WeWork losses cast shadow over $9bn listing October 10, 2021 WeWork is set to report a loss of $1.5bn (£1.1bn) for this year, weeks before the company’s planned $9bn listing on the New York Stock Exchange, according to reports. City A.M. understands that the flexible office-space provider first made investors aware of its expected losses in an earnings report in August and again in an [...]
Wework narrows losses amid hybrid working shift August 13, 2021 Office sharing startup Wework narrowed its losses in the second quarter as companies increasingly turn to hybrid working strategies after the pandemic. Net loss slipped to $922.5m (£666m) in the three months to the end of June, down from $1.1bn in the same quarter last year. Revenue for the period was $593m, down from $882m [...]
WeWork – and Neumann – enjoy share boost on belated Wall Street debut October 21, 2021 Shares in WeWork rose as much as 12 per cent on its first day of trading on the New York Stock Exchange, as the office space provider’s two year journey to a public offering finally came to a head. WeWork began trading its shares today after shareholders approved a $9bn merger with special-purpose acquisition company [...]
Opinion-in-brief: Don’t judge a city by its WeWork offices October 13, 2021 WeWork’s failings, including expected losses of £1.1bn this year, should not distract from the vitality of the City of London’s office market, which is showing that the office is far from dead. It should come as little surprise that WeWork has suffered from its own high-risk strategy. Its long-term lease commitments made for a brittle [...]
WeWork to accept crypto payments April 20, 2021 Shared office space provider WeWork has announced it will be accepting cryptocurrency payments from clients.
WeWork attracts workers back to the office with pay as you go desks August 25, 2021 WeWork will allow customers to rent workspaces on a pay as you go basis in a bid to attract employees back to its offices. This week, WeWork launched its OnDemand service at 40 locations across the UK and Ireland, including London, Birmingham, Manchester, Cambridge, Edinburgh and Dublin. Desks can be booked for £45 per day [...]
Lack of buyers for No 1 Poultry loan in worrying sign for City’s property market December 6, 2023 Bank of Ireland is trying to dodge a loss on a loan secured against No 1 Poultry, a worrying sign for London's commercial property market.