the commercial real estate industry functions but it never reached its profitability, as you said there. its assets and liabilities of somewhere between $10 billion and $50 billion according to the bankruptcy report. we need to remember this was one of the most exciting projects on the horizon. it was worth $47 billion largely due to a chunk of investment from softbank but wall street were also excited, jp wall street were also excited, jp morgan chase was one of its first big investors. its co founder adam newman projected tremendous growth and took on expensive leases in big cities like new york and london and even here in singapore. but itjust never quite reached its profitability. and like so many industries, the covid 19 pandemic really impacted because a lot of clients now who had memberships with this company have pulled out because many of their workers are now working from home and they have done away with the real estate industry. as we have been reading this mornin
grappling with losses in debt since 2019. it was backed by soft bank ofjapan and has reshaped the office sector globally but it has now sought us bankruptcy protection on monday after its bets on companies using more of its coworking space sound. that is just coming out. we should have the latest news on our website and we will bring you more as we get it. that breaking news justin, wework has filed for bankruptcy protection in the united states due to heavy losses that it has been suffering since 2019. let s move on to beijing, where australia s prime minister has met chinese prime minister xi jinping. the leaders have expressed a desire to work together and move on from recent tensions. their relationship soured during the pandemic, after australia s previous government called for an independent intervention into the origins of covid 19. beijing slapped bans on products such as wheat, corn and barley. the tariffs which were only lifted this year. this is the chinese leader.
live from. newsday. hi there. thank you for being with us. we begin in gaza, where fighting is intensifying and communications are down for a third time. our correspondent rushdi abualouf in gaza has told us that tonight s bombardment seems to be the most intense since the beginning of the war, targeting the north west of the gaza strip in particular. of the gaza strip in particular. and in the last few hours, the idf said it has now split gaza into two parts north and south. it comes as the us secretary of state antony blinken has visted iraq and the west bank. and in the last hour, he has landed in turkey s capital, ankara, for a round of talks with leaders in the region. he has said that discussions are ongoing about a humanitarian pause in the fighting. mr blinken said the pause would advance several priorities, including getting more aid in to gaza, and getting the hostages out. yogita limaye reports. the bombing over gaza has intensified tonight, communication lines