Softbank’s second Vision Fund set to come in underweight December 8, 2019 The giant Japanese investment fund Softbank is dialing down its ambitions for the second of its Vision Funds after failed bets on firms such as Wework and Uber dragged the company to its first quarterly loss in 14 years. Softbank’s first Vision Fund two years ago raised around $100bn (£76bn) from backers including the Saudi [...]
Crypto exchange Coinbase aims for Wall Street listing July 9, 2020 Coinbase, one of the world’s largest cryptocurrency exchanges, is said to be preparing to publicly list its shares in New York. The listing could come as early as this year, sources told Reuters. Should its application be approved by US regulators, Coinbase would be the first major US cryptocurrency exchange to go public. It would [...]
Could Ethereum overtake Bitcoin as the world’s leading cryptocurrency? April 23, 2021 Ethereum has the potential to be bigger than Bitcoin and become the dominant crypto asset, according to a renowned market analyst.
Softbank triples spending on share buybacks in June to £1.4bn June 15, 2020 Japanese investment giant Softbank has ramped up share buybacks this month, more than tripling its purchases month on month. Filings released today showed Softbank has spent ¥188.3bn (£1.4bn) on buying back shares between 1 June and 15 June, compared to ¥61bn for the entire month of May. The acceleration takes the total amount spent by [...]
Softbank plans to sue EY over its role in Wirecard scandal June 26, 2020 Softbank is looking to sue EY over its role in the Wirecard scandal after investing in the embattled German firm last year. The Japanese company is looking to file a complaint against the accounting firm after Wirecard collapsed on Thursday owing creditors nearly $4bn, according to German newspaper Der Spiegel. Wirecard’s longtime auditor EY blamed [...]
Founder Masayoshi Son calls Softbank’s staggering loss ‘a mess’ November 6, 2019 Softbank founder Masayoshi Son has called the Japanese company’s disappointing results “a mess” and admitted a “problem” with his judgement, after the tech investment giant swung to an operating loss for the first time in 14 years. The group reported a $6.4bn quarterly loss this morning, driven by soured bets on tech prospects including Wework [...]
Softbank launches $100m minorities startup fund in the wake of George Floyd protests June 4, 2020 Softbank has launched a new startup fund to invest in companies led by “people of colour” in the wake of protests over the death of George Floyd. The Japanese technology giant announced the $100m (£80m) Opportunity Growth Fund as other executives of firms speak out over racial inequality. Chief executive Masayoshi Son wrote on Twitter [...]
Softbank board loses dissenting voice as Uniqlo founder leaves December 27, 2019 The founder of clothes company Uniqlo will resign from the board of Softbank after 18 months in the job. Tadashi Yanai, who is chief executive of Uniqlo, will leave the Softbank independent board member post at the end of the month to focus on his fashion business. Read more: Softbank ‘tightening governance’ at firms it [...]
Wework launches a shoppable London office pop-up store, designed by influencers January 8, 2019 Shared workspace tech giant Wework has today launched a pop-up office in Holborn that is completely shoppable, and is designed with influencers in mind. Open throughout January, the pop-up is filled with office decor from brands such as Urban Outfitters which can be bought via the Liketoknow.it app. Londoners can sign up online to grab [...]
Office space provider IWG takes £156m hit on coronavirus crisis August 4, 2020 Office space provider IWG announced it will take a £156m hit due to the coronavirus pandemic as it shrinks its portfolio by four per cent amid a home-working boom. IWG’s share price dropped more than five per cent today after it announced it will accelerate its office closure plans due to the Covid-19 crisis, with [...]