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SoftBank Seeks to End Partnership With Wirecard

SoftBank Group Corp. is looking to distance itself from Wirecard AG, after the Japanese tech conglomerate helped arrange a $1 billion investment months before the German payments company went bust. One of the world’s largest technology investors, SoftBank is seeking to terminate a five-year partnership its investment arm formed with Wirecard in April 2019, according…

SoftBank CEO Masayoshi Son quits seat on Alibaba board

The Wall Street Journal Published: June 24, 2020 at 11:44 p.m. ET Move comes on same say Alibaba founder Jack Ma officially resigns from SoftBank board Softbank Group CEO Masayoshi Son speaks in 2018. AFP/Getty Images TOKYO — SoftBank Group Corp. Chief Executive Masayoshi Son said Thursday that he is stepping down from the board…

SoftBank raises $14.8bn from T-Mobile US share sale

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SoftBank is cutting 15 per cent of its staff from Vision Fund

By Fatima Syed Last updated 15 hours ago After reporting its largest loss on record (US$13 billion), the Japanese conglomerate is letting go of about 75 employees of its 500-member global workforce. The fund had planned to cut about 10 per cent of its workforce as of last month. (Financial Times) Talking point: The Vision Fund…

SoftBank reveals that Jack Ma will leave its board ahead of profits report

Hong Kong (CNN Business)SoftBank lost a major name from its board and confirmed historic losses on Monday — signs of turmoil at the Japanese conglomerate after it was battered by the coronavirus pandemic and a series of tech bets gone bad.Hours before SoftBank reported a record annual operating loss of 1.36 trillion yen ($12.7 billion)…

SoftBank in Speak With Offer T-Mobile Shares to Deutsche Telekom

SoftBank Group Corp. is in talks to sell a significant portion of its T-Mobile US Inc. stake to controlling shareholder Deutsche Telekom AG as the Japanese technology conglomerate scrambles to raise funds. The transaction, if completed, would boost Deutsche Telekom’s nearly-44% stake in T-Mobile above 50%, according to people familiar with the matter. The German…

Jack Ma Leaves SoftBank Board as Record Losses Loom

May 17, 2020SoftBank Group on Monday said that Jack Ma, the co-founder of Chinese e-commerce giant Alibaba, has resigned from its board, an announcement that came as the Japanese company said it was preparing to double the money it has spent on repurchasing its own shares.The dual announcements came just hours before SoftBank was set…

Adam Neumann sues SoftBank for walking away from $3 billion WeWork share buyout

San Francisco (CNN Business)WeWork cofounder Adam Neumann has filed a lawsuit accusing Japanese conglomerate SoftBank and its massive investment arm of "breaching their contractual commitments and fiduciary duties" by walking away from a $3 billion share buyout agreement. The lawsuit, filed in the Delaware Court of Chancery on Monday and shared with CNN Business by…

SoftBank warns of even steeper losses as it takes a $6.6 billion hit on WeWork

Tokyo (CNN Business)SoftBank is warning that it will fall deeper into the red, just two weeks after it shocked investors by forecasting a record annual loss. The Japanese company on Thursday widened its forecast for a net loss in the year ended in March from 750 billion to 900 billion yen ($7 billion to $8.4…

SoftBank Freezes Vision Fund 2: Nikkei

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