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Latest Articles in softbank

SoftBank-Backed Ride-Hailing Firm Grab Announces Layoffs

Southeast Asia's most valuable startup with a valuation of $14 billion, the SoftBank-backed company informed staff of the move at a townhall, according to people with knowledge of the matter.

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Walmart's Flipkart To Re-Apply For Food Retail License In India

India's Department for Promotion of Industry and Internal Trade (DPIIT) last week rejected the e-tailer's proposal to sell food products through online and mobile platforms

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China's Didi Chuxing Raises Over $500 Million For Self-Driving Unit

The fundraising comes as SoftBank has been selling off other stakes to raise cash for stock buybacks aimed at supporting the price of its shares as its tech investments falter.

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SoftBank-Backed Ola Buys Dutch Electric Scooter Company Etergo

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

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Softbank To Sell 5% Of Domestic Telecom To Raise Cash

SoftBank Corp's shares closed down 0.8% on Friday ahead of the announcement at 1,375 yen, giving a 5% stake a market valuation of 330 billion yen ($3.1 billion).

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SoftBank-Backed Ola To Cut About 35% Workforce Amid COVID-19 Crisis

SoftBank-backed WeWork, restaurant aggregator Zomato and food delivery service Swiggy, that have laid off employees to cut costs as the pandemic wreaks havoc on businesses and forces people to stay indoors.

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SoftBank's Vision Fund Tumbles To $18 billion Loss In 'Valley Of Coronavirus'

The disastrous 1.9 trillion yen ($18 billion) operating shortfall at the Saudi-backed Vision Fund, including losses of almost $10 billion at office-sharing firm WeWork and ride- hailing app Uber Technologies Inc alone, left SoftBank with its worst annual loss of 1.4 trillion yen.

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Softbank Sees $8.4 Billion Net Loss 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.

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SoftBank Could Benefit As BOJ Expands Corporate Debt Buying

The BOJ has a limited amount of company bonds it can buy and Softbank is a big player in the market, with 17.2 trillion yen ($161.24 billion) of interest-bearing debt.

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For SoftBank's Son, Coronavirus Turns Vision To Illusion

The fund does not include all $13 billion invested with SoftBank itself in office-share startup WeWork, or SoftBank's bet on satellite operator OneWeb

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WeWork Directors Defend Right To Represent Shareholders Against Softbank

SoftBank has so far invested more than $13.5 billion in WeWork. But the conglomerate has been under growing financial strain

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SoftBank Shares Fall 3.5% After Flagging First FY Loss In 15 Years

The Vision Fund recorded a loss of around 800 billion yen in the nine months to December, indicating that losses widened in the final quarter of the financial year.

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SoftBank's Son Tests State Of Emergency Appetite Via Twitter Poll

New York state, which had 89 coronavirus cases on the day it declared a state of emergency but just three weeks later was having to cope with more than 83,000 cases.

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SoftBank To Abandon $3 Billion Deal For Additional Wework Shares

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

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Softbank-Backed Oneweb Files For Chapter 11 Bankruptcy Plan, Cuts Jobs

The satellite operator estimated assets in the range of $1 billion to $10 billion and liabilities in the same range, according to a filing in the U.S. Bankruptcy Court for the Southern District of New York.

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