Some of Tuesday’s top business news stories:
The Associated Press
WeWork seeks bankruptcy protection, a stunning fall for a firm once valued at close to $50 billion. I mean come on! Who would have thought that leasing out overpriced office spaces and hosting beer pong tournaments wouldn’t be a sustainable business model? Shocking.
Fortnite maker accuses Google of bullying and bribing to block competition to its Android app store. Ah yes, the classic tale of big tech companies duking it out like toddlers in a sandbox. Can’t we all just get along?
Starbucks is handing out pay hikes and new benefits. But some are only for non-union workers. Because nothing says “we value our employees equally” quite like giving certain perks exclusively to those who aren’t part of an organized labor movement.
Striking actors say they have responded to Hollywood and TV studios’ ‘best and final offer’. Translation: They laughed so hard at the proposed terms that they almost fell off their picket lines.
The Wall Street Journal
Disney’s New CFO Brings Experience to Company’s Activist Investor Battle. It’s like watching a high-stakes game of corporate chess unfold before our very eyes. Will Mickey Mouse make his move against the activist investors threatening his kingdom? Only time will tell!
UBS Group Swings to Net Loss as Credit Suisse Costs Weigh. Looks like someone forgot about carrying the one when doing their financial calculations…oopsie daisy!</P
UAW has Tesla, Toyota in its sights after contract wins at Detroit automakers because apparently taking down two major car manufacturers just wasn’t enough excitement for them this year.</P
Citigroup considers deep job cuts for CEO Jane Fraser’s overhaul called ‘Project Bora Bora’. Nothing screams “We’re making drastic changes” quite like naming your restructuring plan after a tropical paradise destination known for relaxation and leisure activities.