Page 12 - Softbank

SoftBank-backed startups among those approved for US paycheck loan program

In-car monitoring technology firm Nauto Inc. was approved for $2-5 million.

Oyo Hotels is slashing footprint and headcount in virus-hit Japan

The Indian start-up slashed its regional presence by closing offices in provincial centers Sapporo, Sendai, Nagano, Hiroshima and Omiya at the end of June, Chief Business Officer Ryota Tanozaki said.

SoftBank has no plan to improve board oversight of Vision Fund: Report

SoftBank has pushed back against creating such a committee, with executives arguing investments already vetted by top management and $3-5 billion deals put to the large limited partners

SoftBank stock bounces to 2020 peak as buyers look beyond WeWork

The stock rose 2.6 per cent on Friday to 5,778 yen ($54), the highest since July 2019

Fresh troubles for SoftBank's Masayoshi Son as Wirecard drama unfolds

Wirecard won't force SoftBank to write down any assets - because the tech conglomerate never put money into Wirecard itself.

SoftBank Group founder Masayoshi Son and Alibaba's Jack Ma part ways

"It's not like we had a fight," Son said during the virtual shareholder meeting. "This was perfectly amicable."

SoftBank's Son leaves Alibaba board following Jack Ma's departure

SoftBank is a major investor in Alibaba and Son joined Alibaba's board in 2005. Ma joined the SoftBank board in 2007

Masayoshi Son defends investment choices, says SoftBank is not 'SoftPunku'

Sprint, which Son loaded up with debt and made repeated attempts to merge with T-Mobile before successfully closing the deal in April, has delivered an internal rate of return of 25%, Son said

SoftBank to sell T-Mobile shares worth $41 billion after record losses

SoftBank said it may sell some of its stake through private placements or public offerings, adding that there is no assurance a final deal will be reached

Covid-19 woes: SoftBank-backed ride-hailing firm Grab announces 5% layoffs

The ride-hailing industry has been battered by the pandemic, with firms from Uber, Lyft in the United States to India's Ola cutting jobs and costs

SoftBank spent $570 mn to buy back shares in May under repurchase programme

The buyback programme has caused jitters at credit rating agencies, with S&P Global Ratings saying on Thursday it puts SoftBank's financial rigour in question

SoftBank's creditworthiness under pressure despite raising $41 bn: S&P

There are questions over SoftBank's intention to adhere to "financial soundness and creditworthiness", S&P said

World coronavirus dispatch: Aviation sector stares at worst year in history

From Zara's first ever loss to China 'angrily' rejecting study tracing Covid-19 origins to last summer, and the slowing of new infection rate in the US - read these and more in today's world dispatch

Buyout offers coming, but we're well-capitalised: Grofers CEO Dhindsa

E-grocery is a very different business, compared to e-commerce and food delivery, he says

Ola Electric buys Dutch scooter company Etergo valued at $92 million

Etergo's scooters use swappable, high energy density batteries that give it a range of up to 240 km.

SoftBank Vision Fund posts $17.7 billion loss on WeWork, Uber Technologies

Takes hit after writing down the value of investments in WeWork, Uber and others; plans to double buybacks

Alibaba's Jack Ma resigns; SoftBank proposes three new board members

The departure of Ma, who retired as Alibaba's executive chairman in September, comes as he pulls back from formal business roles to focus on philanthropy

WeWork directors seek to preserve right to sue SoftBank over a $3 bn tender

This comes after lawyers for SoftBank last month wrote to WeWork's board to request that it confirm the special committee is not authorized to act on behalf of WeWork

WeWork co-founder Neumann sues SoftBank over failed $3 bn tender offer

Adam Neumann's lawsuit alleges 'brazen abuses' on part of Japan's SoftBank Group Corp and its Vision Fund.

SoftBank Group sees wider loss of $8.4 billion on WeWork write-down

The Japanese company made the announcement in a statement Thursday, citing more than 1 trillion yen of non-operating losses from investments held outside of its $100 billion Vision Fund.