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Search resuls for: "Eliot Brown"


25 mentions found


☆ He Bought a Piece of the Chrysler Building. Now His Empire Is Falling Apart.
  + stars: | 2023-11-29 | by ( Eliot Brown | Margot Patrick | ) www.wsj.com   time to read: 1 min
René Benko’s company Signa is filing for insolvency, casting uncertainty over a property empire that includes a stake in upscale British retailer Selfridges. Photo: georg hochmuth/Agence France-Presse/Getty ImagesThe property slump sweeping the globe has claimed a new high-profile victim: René Benko, an Austrian-born retail and department-store magnate who also co-owns New York’s Chrysler Building. Benko’s main holding company, Signa Holding, said Wednesday it is filing for insolvency in Austria. The move, similar to U.S. bankruptcy procedure, puts billions of dollars of company debt at risk and casts uncertainty over a property empire that includes stakes in the largest department store chains in Europe, upscale British retailer Selfridges and a now-stalled Hamburg tower that would have been among the tallest in Germany.
Persons: René, Signa, georg hochmuth Organizations: Selfridges, Agence France, Chrysler, Signa Locations: Austrian, Austria, Europe, Hamburg, Germany
☆ The wildest moments of WeWork’s rise
  + stars: | 2023-11-11 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +8 min
And many early WeWork employees, who worked at lower salaries because they were given stock options, ended up with nothing. WeWork’s wild rise and fall is the latest high-profile incident to shatter that myth. Here is a look at four of the wildest moments from WeWork’s rise, according to the company’s statements and a best-seller about the company. (Part of WeWork’s push to appeal to millennials included free-flowing beer and open bars set up within its coworking outposts.) That pre-IPO paperworkThe beginning of the end can perhaps be traced back to WeWork’s first attempt to go public back in 2019.
Persons: New York CNN — WeWork, Adam Neumann’s, Neumann, Son, Adam Neumann, Kelly Sullivan, Eliot Brown, Maureen Farrell, millennials, Darryl McDaniels, Mike Segar, ”, Rebekah, WeWork, Caitlin Ochs, WeWork’s, Neuman, Mark Lennihan, “, Tolga Akmen Organizations: New, New York CNN, WeWork, San Francisco, of Fine Arts, Gulfstream G650, Wall Street Journal, Bloomberg, Getty, Nasdaq, City of Locations: New York, San, San Francisco , California, Israel, Manhattan , New York, WeGrow, WeLive, New York City, U.S, City, City of London, AFP
☆ A Possible Winner From WeWork’s Troubles? Adam Neumann
  + stars: | 2023-11-09 | by ( Eliot Brown | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/commercial/a-possible-winner-from-weworks-troubles-adam-neumann-0144d018
Persons: Dow Jones, adam, neumann
☆ Megumi Fujikawa — Reporter at The Wall Street Journal
  + stars: | 2023-11-09 | by ( Megumi Fujikawa | Eliot Brown | ) www.wsj.com   time to read: 1 min
Megumi FujikawaMegumi Fujikawa is a reporter for The Wall Street Journal in Tokyo where she covers the Bank of Japan, the Japanese economy and financial markets. Her coverage also includes corporate news and other major news developments in Japan.
Persons: Megumi Fujikawa Megumi Fujikawa Organizations: Wall Street, Bank of Japan Locations: Tokyo, Japan
☆ SoftBank Loses $6.2 Billion in Quarter as WeWork Weighs on Investments
  + stars: | 2023-11-09 | by ( Megumi Fujikawa | Eliot Brown | ) www.wsj.com   time to read: 1 min
SoftBank was WeWork’s biggest backer since it started investing in 2017. Photo: Kentaro Takahashi/Bloomberg NewsTOKYO— SoftBank Group sank deeper into the red in the July-September period as it reported write-downs related to the bankruptcy of office-sharing company WeWork and technology shares stayed under pressure amid rising interest rates in the U.S. The Japanese technology investor posted a net loss of 931.1 billion yen, equivalent to $6.2 billion, for the quarter ended Sept. 30. That is compared with a 477.6 billion yen loss in the April-June quarter and 3.034 trillion yen profit a year earlier, when it unwound its stake in Alibaba Group Holding .
Persons: SoftBank, Kentaro Takahashi Organizations: Bloomberg News TOKYO — SoftBank, U.S, Alibaba
☆ Adam Neumann Wounded WeWork. An Office Market Bust Finished It Off.
  + stars: | 2023-11-06 | by ( Eliot Brown | Konrad Putzier | ) www.wsj.com   time to read: 1 min
WeWork rode the wave of the venture-capital frenzy, building a global real-estate empire worth more than any other U.S. startup before buckling and laying off thousands when funding ran dry under its turbulent co-founder and former chief executive Adam Neumann . Ultimately, though, it was a historic office-market bust that doomed the desk-rental giant.
Persons: WeWork, Adam Neumann
☆ Adam Neumann Wounded WeWork, an Office Market Bust Finished It Off
  + stars: | 2023-11-02 | by ( Eliot Brown | Konrad Putzier | ) www.wsj.com   time to read: 1 min
WeWork rode the wave of the venture-capital frenzy, building a global real-estate empire worth more than any other U.S. startup before buckling and laying off thousands when funding ran dry under its turbulent co-founder and former chief executive Adam Neumann . Ultimately, though, it was a historic office market bust that doomed the desk-rental giant.
Persons: WeWork, Adam Neumann
☆ Despite Israel-Hamas War, It’s (Nearly) Business as Usual at Saudi Investment Forum
  + stars: | 2023-10-24 | by ( Stephen Kalin | Eliot Brown | ) www.wsj.com   time to read: 1 min
Deals worth billion dollars are expected to be signed over the next three days at the Future Investment Initiative conference in Riyadh, Saudi Arabia. Photo: fayez nureldine/Agence France-Presse/Getty ImagesRIYADH, Saudi Arabia—The titans of Wall Street chatted under crystal chandeliers. With the Israel-Hamas war intensifying 900 miles away, the gathering made for an awkward split screen. The world’s business elite had come together for the Future Investment Initiative—nicknamed “Davos in the Desert”—where topics of discussion included artificial intelligence, futuristic planned cities and the growing perils of higher interest rates and rising debt loads.
Persons: fayez Organizations: Future Investment Initiative, Agence France, Getty Images, Saudi Arabia —, titans, Future Investment, “ Locations: Riyadh, Saudi Arabia, Getty Images RIYADH, Israel, “ Davos
☆ Big University Endowments Hampered by Startup Write-Downs
  + stars: | 2023-10-23 | by ( Juliet Chung | Eliot Brown | ) www.wsj.com   time to read: 1 min
Yale University’s endowment gained 1.8% for the fiscal year ending June 30. Photo: Tim Tai for The Wall Street JournalThe hangover from the bursting of the startup bubble is weighing on big U.S. university endowments, with write-downs in their growth and venture-capital investments driving a second straight year of weak returns. The Massachusetts Institute of Technology reported a loss of 2.9% and Duke University, a loss of 1% for the fiscal year ending June 30, while endowments at Yale and Stanford gained 1.8% and 4.4%, respectively. The median return for endowments and foundations of more than $1 billion was 5.6%, according to a preliminary estimate from Cambridge Associates.
Persons: Tim Tai Organizations: Yale, Wall Street, Massachusetts Institute of Technology, Duke University, Stanford, Cambridge Associates
☆ Billions of Dollars in Loans to Board Members Draw Spotlight to Gulf Banks
  + stars: | 2023-09-28 | by ( Rory Jones | Eliot Brown | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/banking/billions-of-dollars-in-loans-to-board-members-draw-spotlight-to-gulf-banks-3f503a83
Persons: Dow Jones
☆ The Middle East Becomes the World’s ATM
  + stars: | 2023-09-07 | by ( Eliot Brown | Rory Jones | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/middle-east/the-middle-east-becomes-the-worlds-atm-b172f8f8
Persons: Dow Jones
☆ The Disappointing Bet That Could Turn Into the Biggest IPO of the Year
  + stars: | 2023-09-03 | by ( Eliot Brown | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/tech/the-disappointing-bet-that-could-turn-into-the-biggest-ipo-of-the-year-3406c6dc
Persons: Dow Jones, 3406c6dc
☆ Eliot Brown — Reporter at The Wall Street Journal
  + stars: | 2023-08-18 | by ( Eliot Brown | ) www.wsj.com   time to read: 1 min
Eliot BrownEliot Brown writes about finance from The Wall Street Journal's London office. He previously covered startups and venture capital from San Francisco and commercial real estate from New York City. He is the co-author of "The Cult of We: WeWork, Adam Neumann and the Great Startup Delusion," published in summer 2021.
Persons: Eliot Brown Eliot Brown, Adam Neumann Organizations: The Locations: San Francisco, New York City
☆ SoftBank Buys Vision Fund’s Stake in Arm at $64 Billion Valuation
  + stars: | 2023-08-18 | by ( Ben Dummett | Corrie Driebusch | Eliot Brown | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/deals/softbank-buys-vision-funds-stake-in-arm-at-64-billion-valuation-52a8b41
Persons: Dow Jones
☆ A $236 Billion Stock-Market Enigma
  + stars: | 2023-07-18 | by ( Eliot Brown | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/the-236-billion-enigma-dominating-abu-dhabis-stock-market-c1ab8918
Persons: Dow Jones
☆ The $236 Billion Enigma Dominating Abu Dhabi’s Stock Market
  + stars: | 2023-07-18 | by ( Eliot Brown | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/the-236-billion-enigma-dominating-abu-dhabis-stock-market-c1ab8918
Persons: Dow Jones
☆ He Spent $140 Billion on AI With Little to Show. Now He Is Trying Again.
  + stars: | 2023-07-03 | by ( Eliot Brown | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/he-spent-140-billion-on-ai-with-little-to-show-now-he-is-trying-again-dbcca17
Persons: Dow Jones, dbcca17
☆ The Real-Estate Market Caught in a Tangled Web of Ownership and Debt
  + stars: | 2023-06-09 | by ( Eliot Brown | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/the-real-estate-market-caught-in-a-tangled-web-of-ownership-and-debt-3f4a04af
Persons: Dow Jones
☆ Rajeev Misra Has Two Jobs. He Backs WeWork at Both.
  + stars: | 2023-05-17 | by ( Eliot Brown | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/rajeev-misra-has-two-jobs-he-backs-wework-at-both-32e0255f
☆ King Charles Inherits Bulging Royal Purse Thanks to Property Boom
  + stars: | 2023-05-06 | by ( Max Colchester | Eliot Brown | ) www.wsj.com   time to read: 1 min
LONDON— King Charles III presides over a monarchy in robust financial health. Behind this is a booming real-estate portfolio of bucolic farms, wholesale warehouses and prime London offices that has helped cover a royal spending spree. No one outside the palace is exactly sure how rich the monarchy is, or of the personal wealth of its incumbent, Charles, who is due to be crowned on Saturday. The institution’s income comes from a variety of sources, including taxpayers, profits from large tracts of land and undisclosed privately held investments.
☆ Why First Republic Bank Collapsed
  + stars: | 2023-05-01 | by ( Rachel Louise Ensign | Eliot Brown | Annamaria Andriotis | ) www.wsj.com   time to read: 1 min
In February, First Republic Bank ’s well-heeled customers were yanking money from their accounts. The bank tried to stem the tide by offering higher rates on certificates of deposit. Even that was a tough sell. Jim Herbert , the bank’s 78-year-old founder, usually a reassuring presence, slammed his hand on the table during an all-hands meeting. We’ve got to get more deposits, he said, according to people familiar with the matter.
☆ Commercial Property Is Sputtering. Just Ask the ‘Real Estate King’ of Sweden.
  + stars: | 2023-04-27 | by ( Eliot Brown | Photographs Felix Odell For The Wall Street Journal | ) www.wsj.com   time to read: 1 min
The end of the era of free money has spread financial damage far and wide, with many worried commercial real estate will be the next shoe to drop. Just ask Ilija Batljan —one of Europe’s most indebted property tycoons.
☆ The Banker Tasked With Saving Swiss Banking
  + stars: | 2023-03-29 | by ( Eliot Brown | ) www.wsj.com   time to read: 1 min
During Sergio Ermotti ’s last stint as chief executive officer at UBS Group AG , the bank slashed thousands of jobs, sharpened its focus and became the dominant Swiss financial institution, while rival Credit Suisse Group AG remained strategically scattered and scandal-prone. Now the plain-spoken, immaculately dressed former derivatives trader is about to be in charge of both.
☆ First Republic Bank Founder Earned a Big Payday—as Did His Family Members
  + stars: | 2023-03-24 | by ( Eliot Brown | ) www.wsj.com   time to read: 1 min
First Republic Bank paid family members of its founder, James Herbert , millions of dollars for work at the lender in recent years, including for consulting services related to interest rates and risk, according to public disclosures the bank made as part of annual filings. The bank paid Mr. Herbert, who was chief executive before stepping into the executive chairman role last year, $17.8 million in 2021, the bank’s disclosures for that year said. The compensation was more than CEOs at most similar-sized banks.
☆ First Republic Bank Founder Earned a Big Pay—as Did His Family Members
  + stars: | 2023-03-24 | by ( Eliot Brown | ) www.wsj.com   time to read: 1 min
First Republic Bank paid family members of its founder, James Herbert , millions of dollars for work at the lender in recent years, including for consulting services related to interest rates and risk, according to public disclosures the bank made as part of annual filings. The bank paid Mr. Herbert, who was chief executive before stepping into the executive chairman role last year, $17.8 million in 2021, the bank’s disclosures for that year said. The compensation was more than CEOs at most similar-sized banks.
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