WeWork’s stock market debut, Activision’s latest scandal, German central bank chief steps down
Yahoo Finance's Julie Hyman breaks down Wednesday’s business headlines.
Video Transcript
JULIE HYMAN: The head of the Bundesbank, which is Germany's central bank, announced he is stepping down from his role due to personal reasons. Jens Weidmann, a member of the European Central Bank, as part of his role has held the job for a decade. He's a longtime critic of the ECB's monetary policy. His last day will be December 31, just days after the ECB decides on easing pandemic-era stimulus.
Video game maker Activision Blizzard said it fired 20 employees amid its ongoing legal battle over inappropriate workplace conduct. The US Equal Employment Opportunity Commission has been investigating allegations of sexual harassment and discrimination at Activision for three years. The company also said it would expand its ethics and compliance team to foster a better workplace.
And after a rocky two-year journey, WeWork finally making its stock market debut-- it's very different at WeWork, however. Shareholders of SPAC BOWX acquisition voted in favor of its transaction with WeWork, readying the company to trade on the New York Stock Exchange starting tomorrow under the ticker WE.
The company originally attempted to go public back in 2019. But its then-parent company postponed that over questions about its valuation and corporate governance. That is going to be a very interesting one to watch tomorrow, Brian Cheung.
