Quarterly profit at SoftBank Group Corp was almost wiped out as the Japanese technology giant was hit for a second straight quarter by losses at its US$100 billion Vision Fund.
More pointedly, it shows how the bailout of start-up WeWork last year and other missteps have put a chill on the tech investing scene and given SoftBank shareholder Elliott ammunition to lobby for change. Shares of SoftBank finished up 12per cent in Tokyo before the results and after the U.S. court decision.
The Vision Fund, which is backed by Saudi Arabia and has single-handedly changed the face of tech investing, said it had invested US$74.6 billion in 88 companies as at the end of December, when those investments were worth US$79.8 billion.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SoftBank Group quarterly profit wiped out by Vision Fund lossesJapan's SoftBank Group Corp said on Wednesday its third-quarter operating profit fell 99per cent, well short of analyst estimates, pulled down by ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
SoftBank Group quarterly profit wiped out by Vision Fund lossesJapan's SoftBank Group Corp said on Wednesday its third-quarter operating profit fell 99per cent, well short of analyst estimates, pulled down by ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
RFU to slash English second-tier funding for next seasonREUTERS: The Rugby Football Union (RFU) said on Wednesday it was cutting its funding of clubs in the Championship, the second tier of English ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
SoftBank Group third-quarter op profit falls 99per cent; misses analyst estimatesJapan's SoftBank Group Corp said on Wednesday its third-quarter operating profit fell 99per cent, well short of analyst estimates, pulled down by ... 😂😂😂😂😂😂😂😂
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Coronavirus: New $500k charity fund launched for front-line medical staff, vulnerable communitiesSINGAPORE - A charity fund to support front-line healthcare workers and vulnerable communities affected by the coronavirus has been launched.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Saudi King transferred funds into Najib's account after 'private chat' in Riyadh, court toldKUALA LUMPUR (THE STAR/ASIA NEWS NETWORK) -The late King Abdullah Abdulaziz Al Saud of Saudi Arabia decided to directly transfer monetary aid to former prime minister Najib Razak's personal bank account instead of a political organisation to avoid complications on how it should be spent, the High Court heard.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »