SoftBank closes in on WeWork; end to GM strike is down to vote, and more top news

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SoftBank is in "very advanced talks" to take control of WeWork at a sharply reduced valuation, CNBC reports, citing anonymous sources. In a deal expected to be announced Tuesday, the Japanese holding company will make a new investment of up to $5 billion — but at a valuation of no more than $8 billion. That's a far cry from the $47 billion SoftBank asserted the office-space sharing startup was worth last January. As part of the rescue plan, the stake of founder and former CEO Adam Neumann in the company — whose IPO was pulled three weeks ago — will shrink “to low double digits.” • Here’s what people are saying.

The United Auto Workers strike against General Motors looks to continue through Friday, following a vote by union leaders to seek ratification of a new, four-year contract from members before calling an end to the monthlong walkout. Union leaders are presenting the deal to some 48,000 members across the country this week. The terms include $11,000 bonuses but also confirm the shuttering of three plants and a parts-and-distribution center. • Here’s what people are saying.

Four major drug companies — McKesson, Cardinal Health, AmerisourceBergen and Teva Pharmaceutical Industries — agreed to a $260 million settlement allowing them to avert a landmark federal trial in the opioid crisis. Teva also said it offered $23 billion worth of drugs to fight the epidemic and $250 million in cash in a deal with attorneys general that would protect it from all related lawsuits. Pharma companies have been accused of playing a key role in a crisis linked to prescription painkillers through aggressive marketing and failure to warn customers of addiction risks. • Here’s what people are saying. 

The key to finding contentment and fulfillment in the workplace may be relocating countries, CNBC says. A new MetLife employee study focusing on 2,675 full-time staffers reveals that 91% of expat workers — U.S. citizens working abroad or foreigners in the U.S. on a work visa — are satisfied at work, compared with 73% of locals. Expats often hold their employer in higher regard than those who don't leave their hometowns, as workplaces can offer newcomers a foundation of stability and a budding sense of community. • Here’s what people are saying. 

Canadians have taken to the polls and the results are in: The Liberals have won the 43rd federal election. Preliminary results put Prime Minister Justin Trudeau on track to lead a minority government, falling short of the 170 seats needed to form a majority — as such, he will need support from other parties in order to pass legislation. Polls had put Trudeau and Conservative Leader Andrew Scheer neck-and-neck going into the vote. • Here’s what people are saying. 

Idea of the Day: It’s important to have friends at work, says Aaron Hurst, founder of the Imperative & Taproot Foundation.

“Relationships are also vital to retain employees, something that is becoming harder and harder to do… people are 60% more inclined to stay at a company if they have more friends. Friends bind us.”

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