Softbank earns $11bn for selling some of its huge Alibaba stake June 4, 2019 Japan’s Softbank will book a pre-tax profit of $11.1bn (£8.75bn) for selling part of its stake in Chinese ecommerce giant Alibaba. The sale forms part of a three-year-old deal to sell assets in order to buy British chip designer ARM for $32bn in 2016. Read more: Uber IPO: Shares slide on second day of trading [...]
Softbank struggles to raise cash for its second $100bn Vision Fund June 3, 2019 Japanese technology giant Softbank has received a chilly reception from some of the world’s biggest investors as it seeks to raise cash for a second $100bn (£79bn) mega fund. The firm’s chief executive, Masayoshi Son, announced Softbank's Vision Fund II in May, saying that many existing investors had expressed interest in the new fund. Read more: Softbank gears [...]
German chipmaker Infineon buys rival Cypress for €9bn June 3, 2019 German chipmaker Infineon has signed a deal to snap up US rival Cypress Semiconductor for €9bn (£8bn) as it looks to fight back against a slowdown in the chip industry. Infineon said it will pay $23.85 per share for the company, marking a 46 per cent premium on Cypress’s 30-day average share price. Read more: [...]
Not clear UK has reached final verdict on Huawei, states US national security adviser May 30, 2019 US President Donald Trump’s national security adviser has said it is not clear the UK has reached a final decision on its policy towards Huawei. “I’m not sure that this decision has reached the prime ministerial level in final form. I mean we are still talking… people are talking back and forth,” John Bolton told [...]
Huawei is an ‘instrument of the Chinese government’, Pompeo warns May 29, 2019 US secretary of state Mike Pompeo has launched a fresh attack on Huawei, accusing the Chinese firm of taking orders from Beijing. “Huawei is an instrument of the Chinese government,” Pompeo told Fox Business Network. “They’re deeply connected. It’s something that’s hard for Americans to understand.” Read more: Softbank names Nokia as 5G supplier in [...]
Softbank names Nokia as 5G supplier after shunning long-term partner Huawei May 29, 2019 Softbank has chosen Nokia to supply equipment for its 5G network, in the latest blow for Chinese telecoms firm Huawei. Softbank, which operates a mobile network in its home country of Japan, today said it will use Nokia technology in non-core parts of its 5G network, which is set to launch next year. Read more: [...]
Jack Ma’s Alibaba chases ‘$20bn Hong Kong float’ May 28, 2019 Alibaba is seeking to raise up to $20bn (£15.8bn) in a Hong Kong float, it is reported. Read more: DEBATE: Does Jack Ma deserve criticism for backing the ‘996’ working week? The listing would be its second after a 2014 $25bn initial public offering (IPO) on the New York Stock Exchange. The online retail and cloud [...]
Chip designer Arm suspends business with Huawei after US trade ban May 22, 2019 British chip designer Arm will suspend business with Huawei to comply with new US trade restrictions, the BBC reported, citing internal company documents. In a memo sent to staff, Arm reportedly told employees to halt “all active contracts, support entitlements, and any pending engagements” with the troubled Chinese tech firm and its subsidiaries. Read more: EE [...]
Softbank gears up for launch of second Vision Fund as full-year profits soar May 9, 2019 Japanese investment giant Softbank will launch its eagerly-awaited second Vision Fund soon, the firm’s founder and chief executive has revealed. Read more: Softbank mulls float for $100bn Vision Fund Masayoshi Son said the new fund will be a similar size to its original $100bn (£77bn) Vision Fund, which has invested in major tech firms including [...]
Softbank mulls float for $100bn Vision Fund as it looks for fresh cash injection May 3, 2019 Japanese investment giant Softbank is reportedly considering an initial public offering (IPO) of its $100bn (£77bn) Vision Fund. The firm is mulling the bumper float as part of series of options as it looks to raise more funds for its investment arm, the Wall Street Journal reported, citing people familiar with the matter. Read more: Softbank [...]