Week Financial News

Flexible workspace provider WeWork plans to file for bankruptcy as early as next week, a source familiar with the matter said on Tuesday, in a stunning reversal of fortune for a company that was once privately valued at $47 billion. Shares of the company fell 30% in extended trading after the Wall Street Journal first reported the news. They have fallen roughly 96% this year.

Narayana Murthy recently talked about how youngsters must work 70 hours a week to uplift India. He cited how a few countries after World War II worked longer hours to grow faster. While this comment is open to interpretation, people are divided.

WeWork raises doublt about its survival The company also signed a seven-days long forbearance agreement with its creditors on October 30 (Monday), it added. A company spokesperson told Bloomberg this agreement would provide “time to continue in the positive conversations with our key financial stakeholders and engage with them to implement our ongoing strategic efforts to enhance our capital structure." Forbearance is a lender's temporary approval to delay loan payments, given in place of compelling the borrower into foreclosure or default. The spokesperson added that WeWork has a “a clear, long-term vision for the future", but did not respond to other queries, as per Bloomberg.

(Reuters) -WeWork plans to file for bankruptcy as early as next week, a source familiar with the matter said on Tuesday, as the SoftBank (TYO:9984) Group-backed company struggles with a massive debt pile and hefty losses.

Panelists Yelena Shulyatyeva and JC Parets react to the inflation report on 'The Claman Countdown.'

Shark Tank panellist Namita Thapar has entered the debate on working 70 hours per week. Thapar took to Twitter to express her concerns about the impact of such long working hours on family time.

Suniel Shetty has now weighed in on the ongoing debate around Narayana Murthy's suggestion that a 70-hour-week in corporate India can help the country in the long run. The 62-year-old is the latest to join the chorus of 70-hour-week work schedule, after the techpreneur's exhortation has left corporate India split down the middle. Shetty on Tuesday took to LinkedIn to post his take on the issue. In a long update, he cited the example of Amitabh Bachchan, Abdul Kalam, Virat Kohli and Ratan Tata and how these figures achieved exemplary success in their respective fields by going the extra mile. «Do we really think any of these individuals got to where they did in life, by playing within their comfort zones? Do we really think any of these individuals spent the early years of their careers worrying about whether they were striking the right balance between work & life?»

Petronet LNG share price continued its downward trend on Tuesday, a day after the company’s board approved to diversify into petchem business by setting up a Petrochemicals project at an estimated cost of ₹20,685 crore. Petronet LNG shares declined over 3% to hit a 52-week low of ₹195.15 apiece on the BSE on Tuesday. The fall comes after the stock cracked 8.5% in the previous session.

₹1,640 on BSE. TVS Motor share price started on a strong positive note, making fresh new high however from there, analysts said that they could not see follow up buying and prices have gradually declined lower.

A deal has been reached to end a week-long strike that had shut down a major shipping artery in the Great Lakes, halting the flow of grain and other goods from the U.S. and Canada

Narayana Murthy, the co-founder of Infosys, suggested that India's workforce should engage in a 70 hour work week, earning brickbats from many on social media. Notably, the proposal also found many taker in the likes of Ola Co-founder Bhavish Aggarwal, former board member of Infosys Mohandas Pai, and JSW Group chairman Sajjan Jindal.

Israel is pounding Gaza non-stop and from all fronts to get to Hamas. But, oil traders seem more concerned right now about what the Federal Reserve might do or say at the central bank’s rate decision on Wednesday and how the US job numbers for October will turn out on Friday, than the Middle East’s raging war that practically had markets on tenterhooks last week.

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Bitcoin (BTC) starts a new week at comfortable highs as traders square off over BTC price action to come.

Investing.com-- Most Asian stocks fell on Monday as investors hunkered down for a data-heavy week headlined by the Federal Reserve, while uncertainty before a Bank of Japan meeting weighed heavily on the Nikkei. 

Click here!) Alkem Laboratories showcased a strong breakout from a medium-term falling channel formation at ₹3,550 level in mid-July on the weekly chart, marked by a powerful bullish candle, indicating a positive bias. The stock retested the upper band of the channel and bounced back sharply, reaffirming the breakout. The stock is displaying a pattern of higher highs and lows on the weekly chart, forming an upward-sloping trendline, indicating a strong uptrend.

Stocks on Wall Street closed mostly lower on Friday to cap off another losing week as investors digested the latest round of corporate earnings results while continuing to focus on the Federal Reserve’s outlook for interest rates.

Investing.com — It’s going to be a very busy week for investors, with a Federal Reserve meeting, the latest U.S. jobs report and earnings from technology heavyweight Apple that could set the direction for stocks and bonds the rest of the year. Here’s what you need to know to start your week.

Marico Group Chairman Harsh Mariwala has shared his views on the X platform. According to Mariwala, it is an undeniable fact that hard work is the backbone of success but, "It is not about the hours clocked in. It's about the quality and passion one brings to those hours".

Read more The shareholders of Reliance Industries (RIL) have approved the appointment of Isha Ambani, Akash Ambani and Anant Ambani to the board as non-executive directors. The resolutions were passed through postal ballot. Read more Honasa Consumer, which operates Mamaearth, will launch its three-day initial public offering (IPO) on 31 October, according to its draft prospectus.

economic stimulus measures in China. The US dollar saw a boost from a combination of lackluster corporate earnings, safe-haven demand, and signs of the US economy's resilience. Notably, the US economy posted robust annualized growth of 4.9% in Q3 2023, despite higher interest rates. Core PCE prices and personal spending further reinforced the notion of sustained economic strength. As a result, the greenback reached a three-week high, trading at 106.89.