WeWork Co-Founder Adam Neumann Nears Settlement With SoftBank

According to terms being discussed, SoftBank would spend roughly $1.5 billion to buy the shares of early WeWork investors and employees. Former CEO Adam Neumann would get $500 million.

 
Petrobras Shares Drop in Wake of Bolsonaro's Plan to Name New CEO

The Brazilian president's move to install new leadership at the state-owned oil giant sparked a crisis of confidence in his administration's commitment to free-market policies.

 
Steak 'N Shake Avoids Bankruptcy, Then Sues Top Lender Fortress

Steak 'n Shake sued lender Fortress Investment Group after the burger chain paid off debt coming due to avoid bankruptcy, accusing Fortress of misusing confidential information to mount a takeover bid.

 
Vegan Restaurant Chain By Chloe Taps Bankruptcy Lenders to Take Control

The owner of vegan restaurant chain By Chloe has named its lenders as the lead bidders to acquire its assets out of bankruptcy, with hopes to get the proposed sale approved by next week.

 
Spotify to Expand Its Global Footprint, Adding 85 Markets

The streaming company will be available in 36 additional languages as the new markets represent access to more than one billion people.

 
GameStop Shares Jump

The market action comes after Reddit user Keith Gill disclosed late Friday that he bought more of the retailer's stock.

 
Goodyear to Buy Rival Cooper Tire for $2.8 Billion

The cash-and-stock deal would create a company with more than 50 factories.

 
Boeing Backs Grounding Some 777 Jets

Airlines were told to stop flying Boeing's wide-body 777 equipped with a type of engine that broke apart during a recent flight, as the FAA said it would order inspections of those jets. United is the only airline in the U.S. that uses that engine type.

 
M&T Bank to Buy People's United for $7.6 billion

M&T Bank agreed to buy People's United Financial for $7.6 billion in an all-stock deal, the latest in a string of regional-bank tie-ups.

 
Texas Blackout Boosts Australian Bank by Up to $215 Million

The deep freeze that plunged millions of Texans into darkness last week produced a windfall of up to $215 million for Macquarie, an Australian investment bank that is active in U.S. power and gas markets.

(END) Dow Jones Newswires

February 22, 2021 19:15 ET (00:15 GMT)

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