Page 17 - Softbank

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.

SoftBank sees a net loss of around $8.4 billion on WeWork writedown

SoftBank maintained its forecast of a record annual operating loss of 1.35 trillion yen announced earlier this month as bets via the $100 billion fund sour

Oyo to offload more loss-making hotels amid Covid-19 outbreak: Report

The hospitality sector has been one of the worst affected by the coronavirus outbreak, with global and domestic travel coming to a near-halt

Before change in FDI rules, Chinese invested millions in Indian tech firms

Between January and April 2020, Chinese companies and US hedge funds raised their stakes in Byju's, Paytm and many other billion-dollar Indian technology companies

Answers to the Strategist Quiz #659

Answers to the Strategist Quiz #659

SoftBank's $2-billion guarantee at risk as pandemic hits Oyo business

Oyo risks turning into another problem startup for SoftBank and Son, still reeling from the meltdown at the shared-office company WeWork.

SoftBank CEO Son says will donate 300 million masks per month to Japan

SoftBank will donate two different kinds of mask, initially for medical staff, in cooperation with the Japanese government's "mask team", set up to tackle shortages due to the coronavirus outbreak

Oyo sends thousands on leave without pay, India escapes for now

Oyo said in a statement it's furloughing employees in countries excluding India without specifying numbers, adding that it's not considering job cuts at this time.

SoftBank group to abandon $3 billion deal for additional WeWork shares

The US-based company's committee said it will evaluate all its legal options, including litigation and remained committed to reaching a solution.