The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
(Updates with memo from CEO Neumann, details on company rebrand)
April 29 (Reuters) - WeWork owner The We Company said on Monday it had filed for an initial public offering (IPO) with U.S. regulators, the latest in a swarm of U.S. startups planning a stock market debut this year.
WeWork, recently valued at $47 billion in a private fundraising round, said its amended IPO registration with the U.S. Securities and Exchange Commission will help it decide if it is sure it wants to become a publicly traded company.
"After a lot of thought, last week we decided to file the first amendment to our submission, which is a step towards allowing us to decide to become a public company," Chief Executive Adam Neumann wrote to staff in a memo seen by Reuters.
"I do not have an exact date or timeline to share with you, but I wanted you to know first that this process has started."
If it completes its IPO in 2019, WeWork is likely to be the biggest company by value to list on the stock market this year after Uber Technologies Inc, which is aiming for a valuation of up to $91 billion when it prices its IPO next week.
WeWork has helped pioneer "coworking," or shared desk-space, with a focus on startups, entrepreneurs and freelancers, and has received significant backing from some of the world's biggest investors, including Japan's SoftBank.
The company has faced questions about the sustainability of its business model, which is based on short-term revenue agreements and long-term loan liabilities.
In the first three quarters of 2018, WeWork posted a net loss of about $1.22 billion on revenue of $1.25 billion.
The New York-based company, founded in 2010, said in January it would operate under a new name, The We Company, which would operate separate business units that lease commercial office space, rent out residences and run schools.
Earlier this year, SoftBank boosted its stake in WeWork by $2 billion in a deal that was billions of dollars below what the shared workspace provider had hoped to raise to fund growth and buy out existing shareholders.
Investors expect 2019 to be one of the most active years on record for high-profile new listings, with the likes of Slack Technologies and Postmates also planning to go public, as the stock market hovers near all-time highs.
So far in 2019, technology or internet companies have raised $7 billion through IPOs in the United States, compared to $20.8 billion for the whole of last year, according to data provider Dealogic. (Reporting by Joshua Franklin in New York and Uday Sampath in Bengaluru Editing by Maju Samuel and Sonya Hepinstall)