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T-Mobile CEO Legere in talks to become WeWork CEO: WSJ

T-Mobile US Inc. Chief Executive John Legere is in talks to become the CEO of WeWork, according to a report on The Wall Street Journal Monday that cited people familiar with the discussions. The startup is looking for someone to start in January, a candidate that could turn the company around and potentially taking it public in the future, the report said. Shares of T-Mobile were down 1.6% after the news. WeWork last month pulled its initial public offering amid controversy over its leadership and Chief Executive Adam Neumann subsequently stepped down. Japanese tech conglomerate Softbank Group Corp. took a controlling stake on WeWork also in October. Softbank owned a majority ownership on Sprint; Sprint and T Mobile announced their merger earlier this year, a deal that has been held while divestments are under way. T-Mobile has gained 25% this year, compared with gains of 23% and 19% for the S&P 500 index and the Dow Jones Industrial Average in the same period.

1 min ago

S&P 500

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In Energy »

Iran Enriching Uranium at Fordow Site, U.N. Agency Says

Iran carried out its threat to enrich uranium at its underground Fordow nuclear site, the United Nations atomic agency confirmed on Monday, its most serious breach of the 2015 nuclear deal.

18 min ago
7 ways to reduce the carbon footprint on your Amazon orders

Amazon says one-day and same-day shipping is its most eco-friendly option, but experts aren’t so sure.

24 min ago
ICE, Oil Traders Team Up on New Mideast Crude Futures

Energy-markets giant Intercontinental Exchange will team up with Abu Dhabi’s state oil producer and some of the world’s biggest oil companies to launch a new futures exchange in the emirate.

38 min ago

In Banking »

Education Dept. cancels $10.8 million in student-loan debt for students at shuttered schools

The loan cancellation might not cancel a lawsuit though.

15 min ago
Here’s the No. 1 reason why military veterans are denied a VA mortgage

Not everyone who serves the country qualifies for a government-backed home loan.

42 min ago
I’m 59, have $2,500 a month to spend and want an artsy community near the ocean that’s not too hot. Where should I retire?

He’s ready to leave Alaska for somewhere warmer on the West Coast.

12:13 p.m. Today
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In Technology »

Cisco earnings: Fears of a tech-spending slowdown face one of their biggest tests

A disappointing forecast in August, hinting at weakness in China and corporate tech-spending, pushed Cisco Systems Inc. shares down. The question when Cisco reports its performance against that forecast this week is whether the trend will continue.

2 min ago

In Cars »

Winter is coming: These stocks can fire up your portfolio as energy demand spikes

Natural gas companies will benefit from colder-than-average temperatures this winter, writes Michael Brush.

42 min ago
Get good deals on these cars with high inventory

As we look to the end of 2019, some car dealers are still sitting on a surplus inventory of 2018 models.

5:03 a.m. Today
More borrowers are going underwater on car loans

Consumers, salespeople and lenders are treating cars a lot like houses during the last financial crisis: by piling on debt to such a degree that it often exceeds the car’s value.

11:29 a.m. Nov. 9, 2019
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In Retail »

Singles Day — the Prime Day, or even Black Friday, of China — is driving billions in sales for Alibaba and JD.com

Singles Day sales are climbing into the billions not just for Alibaba but other big e-commerce players in China.

46 min ago
Walgreens shares rise on reported KKR buyout interest

Shares of Walgreens Boots Alliance rallied 6.4% toward a 7-month high in morning trading Monday, after Bloomberg News reported that the private equity giant KKR & Co. had approached the pharmacy chain about a buyout. If the deal moves forward, which could be valued at north of $70 billion, it would be the largest leveraged buyout ever. Like other pharmacy retailers, Walgreens is facing pressure from a combination of weak retail shares and drug reimbursement pressure. Reuters first reported last week that the company was considering going private. Walgreens stock is down 7.8% year-to-date, while the Dow Jones Industrial Average has rallied 18.2%.

10:10 a.m. Today

In Health Care »

3 ways to offset the rising costs of health care

Weighing your options during open enrollment.

34 min ago
GW Pharma shares rise after UK recommends NHS reimburse its CBD-based epilepsy drug

GW Pharmaceuticals PLC shares rose more than 2% Monday, after the U.K. National Institute for Health and Care Excellence (NICE) said it would recommend that the country's National Health Service (NHS) offer routine reimbursement for Epidyolex, its cannabis-based treatment for severe forms of childhood epilepsy. Leerink said the news was a clear positive for the stock, coming after NICE published two draft guidances that were largely against the use of Epidyolex on the NHS. "We believe this was merely part of the price negotiation process between GW and NICE, rather than NICE finding some issue with either product," analysts led by Marc Goodman wrote in a note to clients. GW Pharma has said it expects pricing in the UK to be in range to 50% to 70% of the U.S. price, while France is also getting close to it too. "Epidiolex in the US is still ramping nicely for Dravet Syndrome (DS) and Lennox-Gastaut Syndrome (LGS), and physicians are getting incrementally more comfortable with off-label usage in other indications," the analysts wrote. "Europe is just starting to kick in and will add a nice boost to sales, especially given our understanding that the excitement in the EU epilepsy community is similar to that in the US." The drug is marketed as Epidiolex in the U.S. GW Pharma shares have gained about 15% in 2019, outperforming the broader cannabis sector. The ETFMG Alternative Harvest ETF has fallen 23% in the year to date, while the S&P 500 has gained 23%.

46 min ago
Walgreens' stock surge providing a 25-point cushion to the Dow's price

The 6.3% rally in Walgreens Boots Alliance Inc.'s stock , after a Bloomberg report of KKR & Co.'s interest in a leveraged buyout of the drugstore chain, was the leading gainer of the 8-of-30 Dow Jones Industrial Average components gaining ground in morning trading Monday. The stock's $3.74 price gain was adding about 25 points to the Dow's price, which was down 99 points, or 0.4%. Walgreen's stock remains the worst performing Dow stock over the past 12 months, as it has shed 23.6% over that time period. The 2nd-worst performer over the past year is Pfizer Inc.'s stock , which has lost 16.5%.

10:16 a.m. Today
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