One scoop to start: SoftBank, the biggest outside shareholder in WeWork, is urging the lossmaking property group to shelve its hotly anticipated initial public offering after it received a cool reception from investors. Elliott Management, the activist fund founded by Paul Singer, has taken one of its largest positions ever, adding to the onslaught of “super campaigns” in some of America’s largest companies. With a market capitalisation of more than $270bn, the US telecoms group represents one of Elliott’s largest targets in recent memory.
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