Real estate businessman Mathrani joins WeWork as CEO
Sandeep Mathrani, a real estate executive who served as Brookfield Properties' CEO and has extensive experience in the industry, has been tapped as CEO after WeWork's co-founder Adam Neumann left the company in November, facing criticism due to unreliable management. Marcelo Claure will remain as executive chairman of the board.
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WeWork set to see profits in 2021
WeWork set to see profits in 2021
Chairman of the New York-based office space sharing company WeWork, the company is set to see positive cash flow and profits in 2021, a year ahead of schedule, company chairman Marcelo Claure said in an interview with the Financial Times published Sunday. “Everybody thought WeWork was mission impossible. And now, a year from now, you are going to see WeWork to basically be a profitable venture ” Claure said
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CNBC
3M CEO tells Trump mask demand too great
Mike Roman, the CEO of US-based mask and worker safety equipment manufacturing company 3M, has stated amid US President Donald Trump's invocation of the Defense Production Act that his company cannot meet the demand for masks in the country. Roman revealed that the industry only has the capacity to make 50 million N95 masks each month, while healthcare workers need 300 million to fight the coronavirus pandemic.
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Marketwatch
Trump claims Google CEO called him to apologize
US President Donald Trump has said that Google CEO Sundar Pichai recently called him to apologize and that Google has substantiated his earlier comments about a coronavirus testing website. Although Alphabet did say in an earlier statement that the site is not as Trump described, Trump has said that this statement was fake news.
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TechCrunch
Aramco to miss profit targets for its first year as a publicly listed company
Amid the global economic fallout from the coronavirus pandemic, Saudi state-owned oil company Aramco, currently the most valuable company in the world, has announced that it will miss its first profit targets as a publicly listed company. CEO Amin Nasser also stated that the company will restrict its capital spending in 2020 due to Saudi Arabia's ongoing oil price war with Russia.
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Reuters