While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
Of the recessions the U.S. has seen dating back to the early 1980s, none has come without an oil spike of at least 90%.Economyread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
Energy stocks, one of the worst-performing sector this year, spiked on Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
Shares of defense companies rose on Monday after the United States military was put on alert by President Donald Trump.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
New research by the Digital Citizens Alliance shows how easy it is to buy illegal steroids and other appearance- and performance-enhancing drugs.Cybersecurityread more
GM shares were down nearly 3% Monday as analysts estimated the strike could cost GM tens of millions of dollars per day. The two sides resumed talks at 10 a.m. Monday...Autosread more
Amazon changed the algorithms that power its product-search system to favor products with higher profit margins, The Wall Street Journal reports.Technologyread more
Between 180 and 200 underperforming GameStop stores are set to shutter before the end of the fiscal year, and more could be on the way.Entertainmentread more
The We Company, parent company of WeWork, is the latest in a string of richly valued start-ups set to go public this year. But though it was recently valued at $47 billion, it's far from turning a profit. Instead, it's hemorrhaging cash.
WeWork lost $1.9 billion last year on $1.8 billion in revenue, as it focused on rapid growth. Things improved in the first quarter of 2019, but only slightly: The company says it lost $264 million on $728 million in revenue during the quarter.
The company's core business revolves around renting out co-working spaces to everyone from startups and freelancers to large enterprises. Now, WeWork says it's in 485 locations, and has over 400,000 members, up from 186,000 in 2017. the company's CFO told CNBC that investors should look at WeWork's losses as "investments" that will lead to more cash flow.
However, Lyft and Uber's recent IPO stumbles could bode poorly for WeWork's chances of a successful debut, as investors seem wary about taking a bet on companies that lack a clear path to profitability.
Correction: WeWork says it has 485 locations as of the end of Q1 2019.