Latest News on private equity markets

Softbank -backed office sharing firm WeWork named real estate industry veteran Sandeep Mathrani as its new chief executive on Saturday.

Softbank-backed office sharing firm WeWork plans to name real estate industry veteran Sandeep Mathrani as its new chief executive, according to people familiar with the matter.

Wall Street's major averages tumbled more than 1.5% on Friday, sealing its worst week in six months, as the spreading coronavirus outbreak, coupled with sluggish U.S. economic data and a mixed batch of corporate earnings, fueled concerns about global growth.

Germany on Friday confirmed a seventh case of coronavirus, identifying the victim as a man who works at a company in Bavaria where five other workers had earlier tested positive.

Oil prices fell on Friday, on track for a fourth straight weekly loss, on mounting worries about economic damage from the coronavirus that has spread from China to around 20 countries, killing more than 200 people.

Burger King, saying it never billed its "Impossible Whoppers" as vegan or promised to cook them a particular way, said a proposed class action by a vegan customer over the plant-based patties being cooked on the same grills as meat burgers should be thrown out.

Australia's No. 2 lender Westpac Banking Corp said on Saturday a class-action lawsuit, naming former Chief Executive Brian Hartzer and interim CEO Peter King as defendants, has been filed in a U.S. court on behalf of its shareholders.

"What made him successful on the court ... is the same thing I saw from him in business," said billionaire entrepreneur Michael Rubin.

Guatemala is imposing travel restrictions on people who have recently been in China to prevent the new coronavirus entering the Central American country, President Alejandro Giammattei said on Friday.

A growing number of countries around the world are evacuating or planning to evacuate diplomatic staff and citizens from parts of China hit by the new coronavirus.

European planemaker Airbus bribed public officials and hid the payments as part of a pattern of corruption that led to a record $4 billion bribery settlement with France, Britain and the United States, French prosecutors said on Friday.

The United States drew China's wrath with a travel warning on Friday while businesses struggled with supply problems from the coronavirus epidemic that has killed 213 people and been declared a global emergency.

The S&P 500 and the Dow Jones Industrial Average slid on Friday, hit by worries over the impact of the coronavirus epidemic on global growth, while strong earnings from Amazon.com checked losses on the Nasdaq.

Morgan Stanley has promoted Alex Silverman and Roland Jeurissen to co-head its FX options unit, which is the target of an internal probe, Bloomberg reported on Friday, citing people familiar with the matter.

European planemaker Airbus will pay 3.6 billion euros ($4 billion) to settle corruption probes by U.S., British and French authorities into contract dealings, lifting a legal cloud that has hung over the world's largest aircraft maker for years.