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WeWork throws in the towel on its ill-fated IPO

(Reuters) – WeWork’s parent The We Company said on Monday it will file to withdraw its initial public offering, a week after the SoftBank-backed office-sharing startup ousted founder Adam Neumann as its chief executive officer. The withdrawal of its IPO prospectus formalizes the end of the New York-based company’s pursuit of a…

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Egypt operator owed $7.7 million by Thomas Cook: chairman

CAIRO (Reuters) – Thomas Cook has dues of 125 million Egyptian pounds ($7.7 million) to local operator Blue Sky Group, Blue Sky’s chairman Hossam El-Shaer said on Monday. Shaer did not give further details. Thomas Cook, the world’s oldest travel firm, collapsed last week, sparking a major tourist repatriation effort and a…

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Stocks inch higher as investors downplay escalating trade war

NEW YORK (Reuters) – A rise in U.S. technology stocks and better-than-expected economic data in China pushed global equity markets higher Monday, despite reports that Washington was considering escalating its trade war with China by delisting Chinese companies from U.S. exchanges. U.S. President Donald Trump is looking at the move as part…

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China says will open more sectors of economy to foreign investors

Chinese Vice Commerce Minister and Deputy China International Trade Representative Wang Shouwen attends a news conference on the Shanghai Free Trade Zone, in Beijing, China, August 6, 2019. REUTERS/Jason Lee BEIJING (Reuters) – China will open up more sectors of the economy to foreign investors, and its policy of protecting foreign companies’…

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Exclusive: Nasdaq cracks down on IPOs of small Chinese companies

(Reuters) – Nasdaq Inc (NDAQ.O) is cracking down on initial public offerings (IPOs) of small Chinese companies by tightening restrictions and slowing down their approval, according to regulatory filings, corporate executives and investment bankers. FILE PHOTO: Two women hold umbrellas as they walk past the Nasdaq MarketSite in New York’s Times Square,…

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