Wion Business Wrap | WeWork's bankruptcy, Airbnb's troubles & more
Business
WION's Business Desk brings you this daily round up of global stories from the world of business and economy.
WeWork, once a pinnacle of tech innovation, files for bankruptcy as challenges mount
WeWork, the office-sharing start-up backed by SoftBank Group, which once held the title of the most valuable U.S. start-up, filed for bankruptcy protection, a Reuters report said on Monday. The company's rise and fall has had a profound impact on the global office sector, as it grappled with mounting challenges, including the impact of remote work on its business.
Mexican 'nearshoring' fosters optimism in business landscape
In Mexico, businesses, especially those in the real estate and construction sectors, are embracing the concept of "nearshoring" to drive profits and stimulate economic growth, primarily in industrial zones near the U.S. border. The Mexican government anticipates that nearshoring, characterised by moving manufacturing capacity closer to the U.S. market instead of Asia, could contribute up to 1.2 percentage points to the nation's economic growth, which is projected to reach 3.5 per cent this year.
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Pentagon revives mandatory testosterone testing for male troops aged 30 and above
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FACT CHECK: Why did PM Modi ask Xi ‘is it okay’ at BRICS Summit? New video reveals...
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India seeks to build a full semiconductor supply chain
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From Abhishek Sharma to Sahil Chauhan, 5 batters with fastest T20I hundreds
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Pyongyang dismisses US, western pressure over nuclear programme
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US And Denmark reach Greenland deal, Trump announces expanded military presence
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Google’s Gemini AI hacks real systems by guessing passwords during security test
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US hiding troop deaths in Iran war? Toll higher than Pentagon count, claims report
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China may have gained access to US's classified F-35 jets; parts meant for repairs diverted to Hong Kong, sparking Pentagon inquiry
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NASA research plane reaches 61,000 feet over Panama
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Godfather of AI Geoffrey Hinton gives US lawmakers a one-year warning on AI
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Shivakumar attends 79th Kalyana Karnataka Utsav in Kalaburagi
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Trump signs Russia sanctions law: India faces fresh 100% tariff threat over Russian oil
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Brigitte Bardot’s private collection set for Paris auction; key items and prices revealed
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Why Ranveer Singh’s Dhurandhar missed India’s Oscar entry; FFI jury member reveals what happened
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Zendaya and Tom Holland step out for a low-key date in Los Angeles
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‘Will go to any extent’: Pakistan vows to defend Saudi Arabia amid Houthi attacks
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The Verdict | When precision fails: US commits war crime in Minab school strike, UN finds
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Trump signs Russia sanctions bill into law, targets Moscow’s energy sector
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New Friday OTT releases (September 18, 2026): Lust Stories 3, You+Me, Best of the Best- 8 new titles coming on Netflix, Prime Video and more
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Pak: A series of counter terrorism operations in Khyber Pakhtunkhwa
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Fast bowler Brydon Carse faces no charges over Derby nightclub incident
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Flying cars in UAE: Ras Al Khaimah signs deal with Chinese company to test new transport
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Africa is splitting, and a lot sooner than estimated, giving way to a new ocean
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'Gangsta' crab shoves knife blade at man and his dog in Florida - Watch
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Trump bans CNN, MS NOW and Politico from White House over ‘FAKE NEWS’
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Trump 2.0: Dark days ahead for America’s ‘imperial presidency’
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Trump's Greenland dream comes true? POTUS announces 'Infinite Life' deal with Denmark, claims permanent US control
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Who is Khalilur Rahman? All you need to know about 81st UN General Assembly President
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Tirupati Laddu ghee adulterated with chemicals, says ED, supplier arrested
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IIT Bombay student dies by suicide, was caught seeking AI help during exams
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Meet top 5 bowlers in latest ICC T20I rankings
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Indian Cinema bets big on mythology, brings ancient stories to modern audiences
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Ukraine plans record $109 bn defence spending, nearly two thirds of budget amid Russia war
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Russia holds first parliamentary elections since the beginning of the Ukraine war
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Meet top 5 Indian batters with fastest T20I centuries
Tesla plans to launch affordable 25,000-euro car in Germany: Media reports
Tesla, the electric vehicle pioneer, is reportedly gearing up to produce a more affordable electric car with a price tag of 25,000 euros (approximately $26,838) at its factory located near Berlin, a Reuters report said, citing an anonymous source familiar with the matter. The development signals a significant move for Tesla as it aims to promote wider adoption of its electric vehicles.
Carbon Copies: Corporations racing to net zero, but few cross the finish line
A report by Net Zero Tracker reveals specific challenges faced by corporations. Only a fraction of companies extend their net-zero targets to encompass Scope 3 emissions, which are linked to a company's value chain. Furthermore, a limited number of firms have set quality thresholds for the use of carbon offsets in their sustainability strategies.
Airbnb's Italian Job: Seizure of $835.5 million sparks tax evasion storm
An Italian judge has issued an order to seize $835.5 million from the short-term rental giant Airbnb on the grounds of alleged tax evasion. This move comes as prosecutors claim that Airbnb failed to collect a 21 per cent tax on roughly €3.7 billion of rental income, which landlords in Italy are obligated to pay.
Byju's in advanced talks to sell EPIC to Joffre Capital for $400 million
Indian ed-tech company Byju's is reportedly in the final stages of discussions to sell its US-based children's digital reading platform, Epic! Creations, to private equity fund Joffre Capital for approximately $400 million. The move is seen as an effort to secure financial support and alleviate the company's ongoing financial challenges, according to Bloomberg sources.
IMF economists highlight Singapore's strong preference for remote work
A recent article by two economists in the Monetary Authority of Singapore's biannual report have highlighted the growing preference for remote work among Singapore's workforce. Analysis by International Monetary Fund (IMF) economists Shujaat Khan and Margaux MacDonald showed that over 70 per cent of Singaporean workers prefer remote work.
Citigroup considers significant job cuts in major restructuring: Report
Citigroup is reportedly contemplating substantial job reductions of at least 10 per cent in several of its major business segments as part of a comprehensive reorganisation effort led by CEO Jane Fraser, a CNBC report said citing sources. The internal initiative, known as "Project Bora Bora", is aimed at providing CEO Jane Fraser with more direct control as she endeavours to simplify Citigroup and enhance its stock performance.
Saab's becomes first foreign defence company to get government nod for 100pc FDI
In a landmark development, Swedish defence giant Saab has achieved a significant milestone by becoming the first foreign company to secure 100 per cent Foreign Direct Investment (FDI) approval for a defence project in India. According to The Economic Times, Saab has been given the green light to establish a new manufacturing facility in India, which will focus on producing shoulder-fired rockets.
Shocker ahead of Christmas: British consumer spending growth slows
Recent data from Barclays reveals a worrying trend in the spending habits of consumers in the United Kingdom. The data shows that there has been a slowdown in the growth of consumer spending, which is now at its lowest level in over a year.