SoftBank abandons $3 billion WeWork share purchase deal

Business / Corporate Apr 2, 2020

SoftBank abandons $3 billion WeWork share purchase deal

SoftBank Group Corp. is scrapping an agreement to spend $3 billion (¥322 billion) to buy WeWork stock from former CEO Adam Neumann and other shareholders, despite threats of legal action from some members of the company’s board. SoftBank had agreed to buy the shares from ...

Masayoshi Son’s empire wobbles as virus hits debt load

Business / Corporate Mar 22, 2020

Masayoshi Son’s empire wobbles as virus hits debt load

Investors are growing increasingly skittish about the stability of Masayoshi Son’s empire. Son’s SoftBank Group Corp., one of Japan’s most indebted companies, had been chipping away in recent years at concerns about its ability to carry that burden. As the founder remade the telecom company ...

Markets plunge as intervention fails to staunch coronavirus panic

Business Mar 17, 2020

Markets plunge as intervention fails to staunch coronavirus panic

Stock markets and oil prices went into freefall Monday as interest rate cuts and fresh stimulus measures by central banks failed to dampen fears amid the global coronavirus pandemic. The U.S. Federal Reserve on Sunday slashed borrowing costs to zero — its second emergency cut ...