More woes for WeWork: $US1.25b quarter loss
- WeWork lost $US1.25 billion ($1.83 billion) in the three months that ended in September, up from $US497 million in the same period a year earlier, according to the document, obtained by The New York Times.
- At the end of September, WeWork's presentation said, the company had $US2 billion in cash, a number that included $US692 million of restricted cash.
- In the third quarter, WeWork had enough members to fill the equivalent of 79 per cent of available desks at the company's locations, down from 84 per cent a year earlier.
- At the end of September, WeWork had 625 locations, an 87 per cent increase from a year earlier.
- Under the plan, WeWork would also sell over $2 billion of bonds to raise new money, though it is not clear how much appetite exists for the company's debt.
Ethiopian Airlines buried the remains of crash victims — but didn't give families enough notice to attend the funeral
- Unidentified victims' remains from the March, 2019 crash of a Boeing 737 Max in Ethiopia were laid to rest on Thursday by workers from Ethiopian Airlines.
- The size of the debris field — resulting from the sheer force of the plane's impact — combined with the rural location contributed to difficulty securing the scene from animals and the elements.
- On Thursday, however, remains that had previously been removed for forensic analysis, but couldn't be identified, were placed in coffins and buried in the crater as it was filled in — something that families had previously requested.
- However, the BBC reported, several family members confirmed that they only had "days" of notice, which was not enough time to travel to the rural location.
- He said that several Boeing employees who were reportedly in attendance were in the area anyway, liaising with an organization that he helped found to support logistical needs of victims' families.
The NSA has stopped collecting location data from US cellphones without a warrant
- American intelligence agencies quietly stopped the warrantless collection of US phone location data last year, according to a letter from the Office of the Director of National Intelligence released today.
- In a response to Wyden released today, a representative for the office said intelligence agencies have already stopped the practice of collecting US location data without a warrant.
- Previously, agencies collected that information through surveillance powers granted under the Patriot Act. But since the Supreme Court’s decision, the agencies have stopped the practice, and they now back up those searches through a warrant, under the legal standard of probable cause.
- In the letter to Wyden, the intelligence community official writes that the Supreme Court’s decision presented “significant constitutional and statutory issues,” but would not explicitly rule out using the tools in the future.
We traveled outside Berlin to the secluded spot that Elon Musk has chosen for the first Tesla gigafactory in Europe
- On Tuesday, Elon Musk announced that he wanted to build another Tesla factory close to Germany's capital, Berlin to develop batteries and continue working on Model Y.
- Business Insider set off to see what exactly the new site location looks like, what people in the surrounding the village think of the news, and why this location is ideal for the car-manufacturing company.
- A long-time employee tells us that there is no question that it is worth supporting a global company like Tesla to create up to 10,000 new jobs in a country that has been struggling economically for the last few months.
- The people who work close by see Tesla as an opportunity for Brandenburg to distinguish itself as a good location for business.
- The location is not too far from the center of the German capital, Berlin, and is also easily accessible by car.