34 Burst results for "soft Bank"
"soft bank" Discussed on Bloomberg Radio New York
"Soft bank selling the chip designer arm and the buyer is and video price tag. 40 billion US. It'll be paid in both cash and stock. Now there's a lot of speculation that this deal may pave the way for software, a bank to become a private company. They're only getting about 12 billion In cash. The rest will be paid in in video stopped, which has been a high flyer of late. I'm looking at soft bank shares now in the Tokyo session Down about 1%. The other story where we've been discussing Oracle selected is the winner Tio take over. The U. S operations of TIC Tac. This is being reported by The Wall Street Journal. Microsoft earlier was saying its offer was rejected by TIC Tac Parent Bite Dance. This is AH, very interesting development will have to see how Microsoft shares trade in the U. S session along with Wal Mart because Microsoft bid was joined by WalMart. The end is stable at 106 14 and in Japanese equity trading Now the Nikkei higher by about 6/10 of 1% in Seoul, The Cosby Pushing up about 8/10 of 1%. And in Sydney, the sex 200 is ahead. 6/10 of 1%. We've got a fed meeting this week in the U. S right now. US 10 Year Treasury very little changed 66 basis points and the dollar holding steady against the Major's Let's move to Global news Ed Baxter, covering it all from the Bloomberg 9 16 newsroom in San Francisco. It Yeah. Thank you. Trying to Yoshida Sudha is about to set to win. The LDP. Later. Ship raced Vote today. China's President Xi Jumping is in virtual meetings today with you leaders questions about an investment treaty, Hong Kong and expansion policies while fires now burn up and down the entire west coast of the US, Louisiana bracing for tropical storm Sally to be very strong. Meteorologists predict the potential for flooding and heavy weather. Former UK Prime Minister's John Major and Tony Blair co author an op ed piece today, slamming Prime Minister Boris Johnson for altering the Brexit deal signed earlier this year. Michael Bloomberg says he will inject at least $100 million to help Joe Biden in Florida. Michael Bloomberg is a founder of Bloomberg LP, parent company of Bloomberg Radio in San Francisco. I'm Ed Baxter. This is Bloomberg. Juliet. Thank you, Ed. Let's get back to Ed Rogers from Roger's Investment Advisors. He is CEO and CIA on the line from Took your Let's talk about self banquet thing shares their up 9.5% after media video, rather bought Softbank's armed for $40 billion. This is the biggest chip deal a lot of focus on tick. But now, of course as well, we're hearing Softbank may go private. What's your thoughts on on on this buyout was seeing in the tech space. Ah, there's anything's going on. Against all things had a bit of a bad run much if she is then sort of beaten up quite a bit by the markets. I say something. Investment decisions and probably on a personal level. I imagine you'd rather be out of the press now. But taking a company private in Japan has significant implications on a number of levels. It's hard to see that happening because Your whole corporate profile. How you recruit people there many, many, many advantages to being a public company in Japan on I'm not quite sure that he would want to give those up at the end of the day. When it comes to stocks is a whole city has called a big buy on stocks, saying that this is also because sugar has expressed support for building a digital agency within the government are using growth stocks so as a little bit too crowded and risky. You know, on a global basis, I'd say certainly, yes. On a regional Japan only basis. This is a really interesting area on DH for the government to take a keen and specific interest in developing this more fully. I would be. I think that's a great opportunity. Frankly, train has great rd. They have great engineers. Over the last three decades. We've seen many times where the Japanese might have been really first create companies very interesting. But they failed to commercialize it on the field on a global basis, commercialize it appropriately, and others have had one more of the larger share of the pie there. If the government is going to really focus on this area that's very promising for a number of different parts of Japanese investment opportunities that we're looking at. Other sectors. The laxative, for example, telcos casinos that you'd be looking at. Based on what your sheet is. Sugar has mentioned in terms of some of the development here. To fight to those specifically the casino space. I think not necessarily That story might well be done. But telcos, I think has a very strong and historically very public opinions on that. And they're there. There could well be a good of a shake up in that space. If it turns out that it's on funding uncertain, there's no snap election and he's got a year or more to play with T run. Sorry, but Toronto is prime minister. That might be an area where you see early action. We also think the regional space and banking is another area that might bear immediate interest given given something gigatons background. And is there any era you'd be avoiding at the moment. Not so much that you wouldn't have already thought out again. The hospitality spaces in real trouble right now Prism in general, though, if we think that That we're at least a year away from any reasonable vaccine on you. No apologies all the positive press about it. That thing that's about to be ready to, you know, come out were were kind of Doubters. That that the medical situation will improve anytime within the next year. Not to the level where you have summary billion doses is ready to go around the planet. Such that We travel the way we did prick over..
SoftBank Nears $40 Billion Deal to Sell Arm Holdings
"We're hearing Softbank Group is nearing a deal to sell British chip designer arm holdings to in Vidia. For about $40 billion more on that from Bloomberg's Denise Pellegrini. A sale of Arm holdings would be the latest in a Siri's of big asset sales by soft Bank, the Japanese technology conglomerate. The cash and stock deal being discussed would value arm somewhere north of $40 billion. Now, the terms under discussion could mark a big win for Softbank. Which bought arm four years ago for $32 billion and its struggle to jumpstart growth of the business. Denise Pellegrini Bloomberg Radio
SoftBank Nears $40 Billion Deal to Sell Arm Holdings
"Group is nearing a deal to sell British chip designer arm holdings to in Vidia. For about $40 billion more on that from Bloomberg's Denise Pellegrini. A sale of Arm holdings would be the latest in a Siri's of big asset sales by soft Bank, the Japanese technology conglomerate. The cash and stock deal being discussed would value arm somewhere north of $40 billion. Now, the terms under discussion could mark a big win for Softbank. Which fought arm four years ago for $32 billion and its struggle to jumpstart growth of the business to the spell. O'Grady Bloomberg radio another
Nvidia to buy rival chipmaker Arm from Softbank for $40B
"Group is nearing a deal to sell British chip designer arm holdings to in Vidia. For about $40 billion more on that from Bloomberg's Denise Pellegrini. A sale of Arm holdings would be the latest in a Siri's of big asset sales by soft Bank, the Japanese technology conglomerate. The cash and stock deal being discussed would value arm somewhere north of $40 billion. Now, the terms under discussion could mark a big win for Softbank, which bought arm four years ago for $32 billion and its struggled to jumpstart growth in the business. Denise Speller Grady Bloomberg radio
Sudden Volatility in Tech Stocks Unnerves Investors
"Our next guest. He's that doesn't see the significant rotation away from technology. Gary Dugan runs their global CIA office, an independent investment advisory firm, and he joins us from Singapore. Gary Great to talk to you. Let's just Start off with why he think that the tech rotation stories and really a flyer. Well, I think you've got something more kind of on the other side and we really struggled still with cyclical stocks. They don't getting pricing power. The volumes are still pretty mundane, and we're not getting significant surprises The upside It is still quite a contrast with tech sector. Well, absolutely, and tell me about what you have right now from your client base as a family office and behind that worth individuals a times it's all about wealth preservation. Of latest being about growing. Your capital base is their point, an inflection point where they retrench, and that's going to be key. I don't think that will change in the weather. But don't don't retrenchment starts in terms of a significant shift strategy until the Fed changed strategy, and we're still getting more of what was in the last decade. What the Fed is underwrites the markets. It's dragging old fields down and people still searching for income and they're they're saying if I can't find income are gonna have to go for capital growth. There are very few sectors that author kind of almost You know, confirmed, you know, 100% probability is going to get some activity such capital gains that really only come into the tech sector on a small smattering of other growth sectors. Well, Absolutely. So where you know what sort of noise you're getting in the moon. What's the biggest question you'll be asked Bio client base. I think the biggest fear of the moment is a big backing up in long term interest rates. That has been a bit ambiguous, certainly anchored the short and the market. We've got near zero sorts of interest rates. But would they let long term interest rates go higher? We don't think so. I think the fact is, we see interest rates of 10 years on the U. S. Government bond moving towards the 1% bubble. I think it will be in managing the yield curve on getting those fields back down to maximum 70 basis points, so I think that is in this place. That's number one fear of the moment. Gary, you talking about how you're not seeing a rotation out of tag, but Fang stocks trading at 31 time, Speedy I mean, when do they get too expensive to be to be playing tag? Hey, very simple Maths on gross boxes. That evaluation is the future profitability and be fair. But no. These companies got profits these days, not as they had in 2000. And you divided by discount rate, not discount right from the Fed, we're told is close to zero because they're now kind of projecting or giving us suggesting the market suddenly discounts the market no increase in interest rates. Some years to come. So if you can find any company out there give you 10 15 20% owners growth You kind of almost putting infinity P multiple in. Maybe just, you know, just giving something exaggerated, But the P multiples could be a lot higher. But why they stand today. We talked about how Masayoshi son and solved by taking a big bat in the options market. What do you make of the options frenzy? Do you expect it to purses? I think it will do But, you know, of course, the market's being cold now because of the soft bank of very major player in the volumes of which they would be stealing in the market would've probably overwhelm any other buyers and sellers. So not to say it's a manipulated market. I think that someone suggested maybe Softbank's running a hedge fund now rather than corporate strategy, But it just shows that there are very few places that people feel comfortable. Make trying to make gains. The longer term. It is very focused on one sector. But as I suggest These companies are delivering corporate profit forecast kind of 10% since June for the tech sector still down from when he started the year. There are very few sectors delivering that kind of good news the moment Gary. The trajectory higher for the full for the stock market isn't likely to be without bombs. How do you hedge against the volatility that is expected? You know, it's good question. We obviously got a very strong rebound. It's quarter forecast for GDP numbers have gone up over recent weeks, but then things will calm down. We've become down a long labour recover somewhat. And then things will have to get back to the door. But I think the one concern I have out there the bone, but it's the central banks of being helpful. I'm not so sure that governments might be to be so helpful. They are limited on fiscal policy that spent a lot of money already. Driven debt up to considerable amount of the GDP. Most countries close to 100% or beyond, and therefore if you have government, but a little bit more sensitive, maybe people be a bit more concerned about the outlook for growth in 2021.
SoftBank's Son leaves Alibaba board following Ma's departure
"We begin in Tokyo with a story involving two of the most powerful entrepreneurs in the world. Masayoshi Sun CEO of the Japanese technology conglomerate Softbank announced today. He stepping down from the board of Chinese ECOMMERCE giant, Alibaba his departure comes after it was revealed last month, Ali Baba's Cofounder Jack Ma was leaving soft bank's board Softbank has come under pressure for investments in troubled startups, such as we work in
"soft bank" Discussed on Wall Street Breakfast
"The move is opposed by sprints controlling shareholder Soft Bank of Japan according to people close to its chairman Masayoshi. Sawn Sprint is down five point eight percent pre-market the latest nominees to the Federal Reserve. Will face a crucial test at a Senate grilling today. After the past who picks economist Stephen Moore and Herman Cain were rejected? Christopher Waller Director of research at the Saint Louis Fed is expected to easily pass muster though lawmakers will closely examine the views of Judy Shelton an advisor to the trump campaign in two thousand sixteen. She has a long history of Unorthodox. Economic commentary like questioning the basic role of the Fed calling for near zero interest rates and advocating for pegging the dollar to the gold standard fresh data from the Treasury Department showed the federal government posted a budget deficit of three hundred and eighty nine point. Two billion dollars in the first four months of fiscal twenty twenty. That's a twenty five percent gain over the same period last year and already about forty percent of the total deficit for fiscal two thousand nineteen tax receipts are usually on the rise comparatively but the rate of federal outlays is adding to the shortfall bringing the total national debt to twenty three point three trillion dollars worries about the European economy emerged on Wednesday. The euro fell to its weakest level against the dollar since twenty seventeen dropping as much as point four percent to a dollar and nine cents on top of a weakened economy impacts from the corona virus are likely to send Germany into recession while Jewish bank expects to post a contraction in the fourth quarter also weighing on sentiment is a lingering succession battle at the top of the German government a slump in euro-zone industrial.
WeWork Rise Helped by Wall Street's Cash and Credibility
"Now our main story this morning it has to do with we work. But this time we're not going to be looking at co-founder founder of Newman's behavior or a soft bank's role in funding the company's rise. Instead we're going to turn to Wall Street reporting that part of what fueled we works. Rise was access to large loans from institutions like J. P. Morgan and Wells Fargo but even as the banks lent millions internally. They worried about the weak company. Charlie Turner are has been finding out more from David. Benoy Te David we works rise and fall was pretty dramatic. What happened to the office? Space Leasing Company. I mean it was a Wall Street Darling with major banks jockeying for a role in the company's IPO lending at hundreds of millions of dollars. Sure Yeah I mean certainly I think when a company loses forty billion dollars in valuation. There's there's a lot of blame blame to go around What what we've been looking at recently is sort of in the rise section of that of that narrative how Wall Street financing really power our this company and it was lifeblood in a lot of ways in a way that we haven't really explored before? Well what about the conflict between the banks basically building up this company and questions about its money and also its business model so what we found was that inside the banks on their lending side. They were pledging these. These large urged lines of credit to we work five hundred million and six hundred and fifty million and then they had struck this deal with the IB over six billion dollars in debt. I A huge loan really on on any scale for for a company like this but internally they were they were actually pretty concerned about we have reporting back through two thousand seventeen of banks blanche at the model that we work was doing it. It's cash flow insane. Well Horse Second. If we're going to give you money we're GONNA need one a lot of protection that you're GonNa pay this back and you know we're going to do a lot of fees so that six billion dollars came with two hundred and fifty million dollars of fees okay. Well that was the fees end of what about the money end of it on On we works day was it was chronically bleeding cash right right. Their their model was to essentially bleed cash. They willfully did not make money while they grew we works. Rises really elite. Fueled by by these bank lines of credit so the way the company works is it goes to a landlord signs a long term lease the landlords at the beginning need a bank letter. Just like when you rent engine apartment you might need a guarantee for a few months upfront. So the way we were structured this was they went to the banks and they got these big pots of money and they took parts of those and would send them out as letters and they'd come back and I was how we work was able to grow at such a rapid rate. Even though it wasn't bringing in cash it didn't actually need the cash to grow in needed. These bank financing lawyers. Why don't you talk about wells? Fargo and their role. Sure so so wells. Fargo's an interesting player in this because they're not typically known as a as a Silicon Valley type bank they're not typically the big IPO bank. They got involved in two thousand seventeen and what our reporting turned out was actually kind of a big deal inside Wells Fargo and they got pretty worried and what they they were worried. Read about the the cash flow. The company are worried about Mr Newman and his personality. Essentially and so we heard that the the loan went through several rounds of appealed field and got rejected internally by the bank and ultimately had to be signed off on by top executive and that just shows that's just one example we think of showing inside the banks there were actually the legitimate concerns about what was going to happen. We work there weren't really portrayed out externally until the IPO fell then Where did things start to go sour for for we work As it approached its IPO date or it's planned IPO date. Sure so the banks are giving all this money trying to help take it out public to investors and that's when it starts going sour they put up the perspectives that details. What we work is in all of its dealings and investors say well? We're not comfortable comfortable with that somewhat. Echoing what we had found out the banks had been internally saying. When is this company going to turn a profit? When when are we going to be able to reap some of the awards if we work in investors said? We're not buying this at the valuations. You think it's worth
Why a New Age of Value Investing is Here
"But let's get to the rant okay now. If if you read the stands Mary Digest if you're stanbury reader you saw me talking about some stuff on Friday. If you're stands very alliance member or extreme value subscriber you also saw me talking about the same thing in the September issue of extreme value which came out on Friday as well so I was all up in reader's grills on Friday about one particular subject and I'm going to talk about that today. I obviously can't give giveaway the advice that I told are paying subscribers in you know the extreme value newsletter but I can tell you what I told him which I think because extraordinarily important. It's like this for a couple of years now. I've been kind of kind of I've been pretty bearish on stocks and starting in two thousand seventeen I said look I expect in the next couple of years. We're going to see the start of a bear market and lots of volatility and after that I said we're probably going to see something like the golden age of value investing because what happens over time over history history over several decades you see that you know the cheapest stocks in the market outperformed the most expensive ones for several years and then there's usually a bear market ticket or some kind of Ruckus and then people feel burned by the thing that performed so great that led them down so bad in the bear market then they switch to something else so they buy the more expensive names the high growth technology names and then those do well for a while then there's a bear market then guess what happens they they feel burned by the grows docs and they go back to the value stocks so there's this tick tock kind of change of the seasons affect between growth the more expensive part of the market and value cheaper part of the market and so. I've been saying stocks are expensive. We're going to get that moment in the next couple of years ears. It's common. It's not here yet. It's coming and we're talking about it for two years and what I told readers on of of the digest and extreme value and Friday is what I'm telling you right now. It's it's here. It started I mean do I even need to recount the last ten nine years right. If you look at just the you can use the Russell growth in value indexes. They have like one the Russell one thousand growth two thousand three thousand whenever I use the Russell One thousand thousand growth index that is up more than four hundred percent since March two thousand nine the last big bottom and the Russell Value Index is about two hundred and sixty percent which is nothing to Sneeze Abbott is nowhere near four hundred percent so you can see the very obvious difference you know people just weren't interested in value and they I love growth. What happened on Friday or I'm sorry on Monday. September ninth is that this this whole thing it just it turned upside down like in one day and our good friend Jason effort over a sentiment trader later kind of called this out to me not to me personally he tweeted it to the whole world and I subscribed to his letter and he said that there to all subscribers but basically he said the best stocks. This is a quote from him. The best stocks today that was Monday. September ninth are the ones that have been the worst year to date date. This is the biggest one day momentum shift since two thousand nine. I saw another report to day in barons. I'm sorry earlier this week and barons and they said basically the same thing that this this shift is the biggest. It's been since two two thousand. They said since two thousand ten but you get the idea right. Everybody is noticing that there was this massive shift essentially from growth to value on one day and I've been waiting for this and I've been predicting that this would happen now. Not everyone is convinced that you know the starting gun was fired as I'm saying it was on Monday September ninth. The LUTH old group is a really great research firm and they're saying hey you know don't get too excited. Wall Street Journal put out an article said. Hey don't get too excited but I'm sorry I just I disagree with them. I think this is it. I think the turn the giant turn been anticipating from growth devalue is here so what does that mean well what it means is like think of it this way nick if you take all the stocks in the market and split them into ten pieces based on something like price to book value. Let's just say so. You know you got these ten slices based on price to book value so there's you know the bottom ten percent you know there's the the cheapest ten percent right and then there's the next cheap is ten percent and so on up to the most expensive ten percent think of it that way well for the last ten in years the most expensive ten twenty percent twenty five percent. Whatever has been doing a lot better than you know those bottom ten percents right you know those bottom two or three ten percent so the the more expensive stocks have been outperforming the cheaper ones and that it it it just turned turned upside down as as Jason Gifford indicated and as you know the folks in Barons indicated in an article today and has a bunch bunch if you just type value and growth and shift I mean you could probably type any combination of these words into Google. You're going to get a bunch of articles in the Financial Nanteuil Times. like I said Wall Street Journal Bloomberg has had a couple of them. This is all over the place you know. This was not a quiet event. This was a big event and so that is sort of like that was the starting gun. That was the moment that I was predicting. I think there's a couple other things really really you know the one big other saying that kind of caught my eye as a possible indicator. Is You know what I'm calling the failure. You're of the we work right. We talked about this last week and I think that really kind of put a pin in the in the Vision in growth growth. IPO market until now all you needed to have a Multi Multi Billion Dollar IPO OH was vision and growth right a vision of the world with lots of Nice flowery language and you know lots of revenue growth so so you combine these two things together in that explains a lot of IPO's right and and of course making a profit well you know we we don't need that vision and grows replaces profitability as important marker for bringing a company public but not now I think I think we work really put it this way. Who would have predicted in January when they were financing. They took a two billion dollar investment out of Soft Bank at a valuation of forty seven billion where we're all the articles saying this valuation is going. GonNa be cut by more than half and the IPO is probably not even going to happen. There were none nobody was predicting that and yet that is exactly what is played doubt now. I wouldn't have predicted it because let's face it. This thing has just gone on and on and on for years and you know calling the top of a bull market ooh boy you know the longer gets. It should be easier to call but it's almost harder because we all just get used to it. It becomes new normal well. All Twenty nineteen is anything but normal do you not agree who who ah January I would have looked looked forward and said fifteen hundred fifty dollars an ounce gold seven Chinese yuan to the US dollar. Nobody was talking about seven. It was just six six six six as far as the I could see who would have said you know may twenty nineteen would be the worst may and forty years for the stock market who would have said August twenty nineteen would have been the best year for the bond market in forty years and you know who would have predicted the the we work to buckle. Nobody nobody is the the answer and of course you. I'm sure all said be feedback. I predicted it or or you know this guy predicted it or that guy but it wasn't everywhere and yet it it's turned into this weird year where all this stuff is happening and frankly it feels very end of cycle. Michael and I've said that many times I realize on the podcast but it's it's become more intense this year with all these huge huge changes in financial markets and I think for me and for my readers dispatch from growth to value is really the big event and so in my newsletter extreme value for the Passover years we we've done things completely differently. We haven't done the traditional sort of valuation metrics that you do do when you're in a value investor. We've done some other things and use different a different valuation style. I've talked about it. It's kind of complicated. It's called price x prize implied expectations and it came from a book by a previous podcast guest. Michael Moebius called expectations investing and it really it helped us a lot. We found all kinds of stuff that by the headline traditional metrics looked really expensive but when we applied the price implying expectations dictation model it was like wow this thing is cheap and so you know we recommended for example last August we picked starbucks and that thing was up eighty percent in a matter of months several months and and that was from August twenty eighteen by the way so it it worked it was good but it wasn't the traditional value thing and what I'm saying now is that the starting gun was fired last week and and and the traditional value thing is back on baby. It's it's back back in action. It's here so our work arcus cut out for us because if you just if you've done any amount of stock screening you know that there's a lot more names you know south of. You've just a couple of billion in market CAP. Let's say then there are north of a couple of billion in market cap so a lot of these value things. Are you know one one billion two billion five hundred million. They're smaller and they're in beat up industries and they're in difficult businesses. I mean I I've been looking at reinsurance insurance company Electronics Manufacturers actually one was a beat up utility company. The utilities are screaming but this one was beat up for the different reasons and and so there's a lot of different stuff and and each one is sort of a unique situation unto itself picking these stocks a high art because they got a lot of hair on them. You've got to be comfortable with with a mediocre business. starbucks is a fantastic. Aston Business and we pick some other big cap stocks like Home Depot and a couple others that I'd rather not give away for free and and you know they've they've done fine but assessing those businesses is kind of a similar proposition they dominate their markets. They generate tons of cash. They have consistent margins consistent free. Casually there's a whole bunch of markers where you can just look at the thing and go one two three four five yup. It's one of them but the value stocks aren't like that there is almost like they're all one offs and the only thing they have in common is that they're all dirt frigging cheap and everyone has avoided voided them like the plague for ten years of course those two things go together right and one of the insights that I'd like to share with you is that this is a very Howard marks type of a thing I recommended Howard marks book the most important thing many many times on the program in my newsletter you know in my living room to my wife dog recommended the book a lot and and marks will frequently say you know so the the market knows companies. It knows what the good businesses are. So what are you going to bring to the table that that is any better than that because you have to do something different over time to to get superior returns. If you're doing the same thing thing everybody else is doing or if you're doing anything that everybody else already knows about. You're not going to get the superior returns. You gotta do something that everybody but he doesn't know about and by definition people don't know about all the stocks they've been avoiding for ten years so they're all dirt cheap whereas whereas by definition these businesses like kinder- Morgan and starbucks and Home Depot and other other companies by definition those things you know they have is on them so they always looked kind of expensive. They rarely look. They don't really get dirt cheap so it's a different. This is a big shift. It's a different proposition and and it's somewhat of a prediction because what I'm saying is from this point forward. The values going to outperform but I'm really not thinking of it as a prediction. I think the starting gun was fired. It's it's absolute historic. Fact that that one day shift in momentum is the biggest such shift in ten years documented now in two different sources that I've seen you know. I
Aramco Plans Split IPO, With Tokyo Emerging as Front-Runner
"Aramco the world's most profitable company is planning to stage initial public offering and despite wooing from london and hong kong tokyo has now emerged as a surprise front-runner for more on this wall street journal exclusive. Sam western spoke with reporter border. Ben dumb it in london. It's been a long journey for the saudi arabian oil company to make a public offering and we've learned that they are going to go <hes> with this two stage strategy. Could you just tell me a little bit about that. Yeah initially they were looking at an i._p._o. Where they would simultaneously list on the message exchange call the totta wall sock exchange and an international exchange but after many false starts the reviving the plan but this time they're taking a different approach where they're going to list initially on the domestic exchange selling a small sliver of the five percent stake that they previously previously targeted they would sell completing that making that a success and then next year following that with an international listing on right now it looks like they're leaning towards the tokyo stock exchange over london stock exchange hong kong or new york and do we have a timeline for when this might happen you know i think we know that ramp was looking at doing the domestic listing in saudi trying to before the end of this year you know the success excessive of that will help determine the timing of the international listing but at this point they're looking at some time in twenty twenty. It looked for a while like the london stock. Exchange was making a big push to bring this listing to london similarly that was interest from hong kong but but it looks like both of those have lost out at this stage. Could you just tell me a little bit about that decision. Yeah in the past when aramco's looking at international listing london was at the top of their list along with hong kong and the new york stock exchange the london exchange change u._k. Politicians have pushed hard to try to to aramco to consider the listing venue. They similarly the exchanges and officials in hong kong in the u._s. You similar tactics to try and will aramco to their exchanges because it would be the largest ever if it goes through but because of brexit and the controversy around brexit in the possibly the increasing possibility of a hard brexit. There's concerns that that could cloud the the future of the l._l._c. so as a result of that. They're you know they're looking at tokyo's an alternative similarly hong kong which was another alternative has this is challenged by the fact of the pro democracy protests that are going on there and the clampdown by mainland china so there's that's create a level of uncertainty about listing in in on the hong kong exchange so as a result. They're now looking at tokyo. Tokyo's a big international exchange. It's been home to some of the largest i._p._o. Ever including last year's i._p._o. Soft bank's mobile telecom unit so that you know that showed obviously that they can manage big. I._p._o.'s and there's an available investor base to absorb the kind of offering that the aramco might pursue. That's the wall street. Journal's ben dumb it speaking with sam western in london
"soft bank" Discussed on Bloomberg Radio New York
"Example of that is soft bank and that is kind of an untold amount of money they don't need any place there are other Middle East nations using the sovereign wealth funds to investors that economic what kind of other countries are active in the bay area right so you mention that Saudi Arabia's summer well done is opening up an office it will join Qatar and Abu Dhabi which also have offices for to make investments in the area you're seeing a lot of the Gulf states try to diversify away from some of this oil wealth and try to put that money into some of these fast growing tech companies I guess one question to consider is who all the sovereign wealth funds can PC games to the traditional plays in the C. ecosystem who also offering up capital city's founders yeah one thing that you see is suffering has built this huge war chest of funding this how the hundred billion dollar vision fund some people like to Korea are also creating megaphones can multi billion dollar funds of bill used to invest in these a private kind of private investment firm's traditional VC outfits that we see here in this in Silicon Valley to the Saudi Arabia's going up against right exactly you have interest in her recliner Perkins they all are diversifying your pitch to try to differentiate themselves from softbank and from some of these other investors but it really has changed the way they operate it's been quite a busy few months for the U. K. to reason may she's been replaced by Boris Johnson as prime minister and is increasing fears that Britain could potentially lead the E. U. with always a Dave I'm really hard and spoke to Bloomberg's you get politics reporter Jeff sentiment and are you Kate chief economist don Hansen to get the very latest on the state of many people now think that general election to see a full potentially in the next day is inevitable worse Johnson has a majority of just one he lost a by election of the conservatives lost a by election last week so that means that any kind of controversial legislation he wants to get to relax and breaks it is going to be extremely difficult what we haven't seen yet is his power tested in parliament because he came to power just one day before the parliamentary time ended and we now in summer recess it's obvious labor will vote for this about him out but what about his own party will he lose members of his own party to vote him out and that means the conservatives can lose the government as a whole that's the real test with just a majority of one and that's including the confidence and supply agreement he has with the noise and I Irish policy the DPT it just will take one or two members of his own party to vote against him to to for him to lose that no confidence vote if it happens Jeremy Corbyn the leader of the opposition labor party has said that they will be looking to call it a no confidence vote very early in September Dan you're or you're in charge of U. K. economics of the mechanics also worked at treasury what do you see as the biggest risk if you care to leave October thirty first you have a deal.
SoftBank's Vision Fund invests $800m in Britain's Greensill
"Let's move on to final topic and a look at Greenville a British private finance shadow Bank. The kind of institution that maybe isn't in the mainstream of financial services Cetinje, not a high sold name. But a stake of it. We think up to maybe twenty percent of it has been a quiet by the enormous Japanese investment firm. Softbank rub. What do you think has drool them to this business on what exactly is going on here? Yeah. It's a good question. I should say the green select she drew a very big investment from general Atlantic last year, which is a big US investor known investing in European fintech. Adian end payments companies probably the most famous bat, so it would draw in love interest. But that crystallized evaluation of one point six billion. So SoftBank have poured eight hundred million dollars into Greenville to take a minority stake. But it's incredible to see the inflationary impact soft bank's valuation. It's gone up from. About one point six billion to three and a half billion. And put simply I think on the key. Appeals to SoftBank is what Greenville does SoftBank love financial structuring, financial engineering, and they love clever use of off balance sheet debt. That's basically green main business. They find clever ways for companies to raise financing out of that supply chain working capitals, which crucially don't usually count towards that debt. You can sort of see why that the soft bank's alley. Yeah. Absolutely. All their comparible investments that it's made. Well, I mean, it's starting to make financial investments, right? We've seen oak north in the UK to an extent we've seen it. We've wire called in Germany, although there's an interesting structure around that. It's something thawing to do is they're coherent strategy that we can detect amongst the few investments they made is probably a bit too early to say there's not necessarily any grand plan again of mood, these businesses and create some great. Funding. But it's patina stakes butting these types of complex financial structures. Yep. Indeed and green. So it's been involved in some complicated situations, I should say green toes founded by a guy called Greenville, lex Greenville. He's this. Australian guys charming is the son of a farming family. And he's this great story about how his dad's business and any went under because of late supply of payments and how he's doing all this stuff to try and fix that issue. But he was involved in a pretty Harry situation to do the magic GAM GAM had to liquidate a fund due to them being able to sell a bunch of bonds that Greensville attracted and say that that situation still not resolved so oversea that was no block on SoftBank investing. But he's been involved in some interesting situations does illustrate them there at the end of the financial will oppose. Thank you wrote for the explanation.
Amazon Rethinks Physical Retail; Shuts All U.S. Pop-Up Stores
"Corless Mary the company's top engineer discusses how the company's culture leads to innovations that change health technology around the world, the products that we make a life changing we continue to focus on driving and doing what is good for the patients and customers that we serve if you desire to explore to help make a difference. You can do that at this company. See how Abbott innovations reimagining what's possible at WWW dot health. Tech dot added. This is tech news briefing. Im Tanya boosters reporting from the newsroom in New York, and in the US Amazon will shut down all of its pop up stores as it rethinks its physical retail strategy would latest shake-up means for Amazon's retail efforts after these tech headlines. Philadelphia is the first major US city to ban cashless stores placing it at the forefront of a big debate that pits retail innovation against lawmakers. Trying to protect all citizens access to the marketplace starting in July. Philadelphia's new law will require most retail stores, accept cash and York City councilman is pushing similar legislation there and New Jersey's legislature recently passed a Bill banning cashless stores statewide fee measures seek to blunt a nascent trend that could rapidly accelerate. Thanks to the likes of Amazon's power to shape nationwide. Retail trends businesses that have gone cashless point to greater efficiency and improved safety. Critics say they worry about people who don't have credit or debit cards journal. Scott Calvert has more wsJcom. Digital health startup, lavar. Go health is preparing for an initial public offering as soon as third quarter of twenty nineteen joining a horde of tech companies racing to tap the public markets the startup hired Morgan Stanley, Goldman Sachs and J P Morgan Chase as underwriters for an IPO that is expected to value. The company in excess of one billion dollars of ongo is set to be one of the first Silicon Valley companies today byu that deploys tech in an effort to change how patients receive care and lower healthcare costs healthcare. So far has proved more resistant to change, however, firms continued to try, for example, Amazon and J P Morgan have struck a partnership in an effort to redesign health insurance for their more than one million collective employee's. And soft bank's next. Big bet Latin American tech, the Tokyo-based conglomerate is launching a five billion dollar fund to invest in technology startups in Latin America a region seeing a surge in venture capital inflows. It's committed to billion dollars to the new SoftBank innovation fund to focus on mid to late stage ventures in the region while it did not name the expected outside investors. The funds size is unprecedented in a market that has grown to double what it was five years ago. And while it still remains tiny in global terms Latin America is a region of fewer competitors and lower valuations coming up Amazon rethinks its physical retail strategy as it shuts down all of its pop up stores in the US the latest after this abbots John frills vice president for diagnostics, research and development discusses how the company's innovations are changing health technology around the world, we close holes in people's hearts. We eliminate. Finger sticks people with diabetes, we identify viruses that could threaten the next pandemic. I've got a front row seat into the innovation. That's going on. In is a very exciting time to be here. See how Abbott innovations reimagining what's possible at WWW dot health. Tech dot added. Amazon is shutting down all of its eighty seven pop up stores ending its years long experiment with these small shops as the company tinkers with involving brick and mortar strategy. Let's get more from Wall Street Journal reporter Esther Fung who joins us in the podcast studio. Hoster welcome back. Thanks. So I a little back story. Amazon had been experimenting with the pop up concept since at least twenty fourteen so what did these stores look like for those unfamiliar? What were the purpose of these stores, and how are they carried out right stores roofless stores in the malls or in cold stores or in whole foods stores and the typically occupy only a few hundred square feet, they're small the also have something called an open foam at encourages passes by to come and check out the Amazon devices and the have staff dress casually t shirts to encourage people to to come in and get to new. What's on on displayed? So like a promotional tool for the most part like an in-store kind of store in a way. Do we take this as an unsuccessful project or simply something that ran its course, what do we make of just the ending of it as such it feels like Amazonas still experimenting with what type of stolley out work for it? I don't think any we tailor has gotten that. If formula down to a pet, but it also shows how retail real estate is evolving as consumers tease evolve. And and even though this has been shutdown Amazon is still not giving up on its bricks Malta strategy. It's still looking to roll out bookstores, and it's forced us stores. Only yesterday we were just talking about it or just a few days ago. Right. It's big forays into brick and mortar. But because like you said there's Amazon go there's cashier 'less stores that will misdoing get. More focused now, that's what I heard plan to roll out more of these cashless Amazon go stores, they're already have ten in places like Seattle and San Francisco, and they're also looking to roll out a new line of grocery stores. So they're still experimenting in and this is news for real estate Tucker. Sure, I guess this speaks to Amazon's fast pace innovation. You know? Like, you said it experiments, and it does these tryouts of sorts. I assume there's other big projects that will still be tested, and we can just expect this to be the protocol. That's right at first. It was a little abrupt when when to to have all these pop up stores shutdown all that time, but real estate executives. I spoke to sit the distance hopeful that Amazon would then rolled out in the mall poem and MENA of the types of store foam. It's very good woke be on the lookout Esther Fung. Thank you so much. Thank you. That's it for the tech news briefing from the newsroom in New York. I'm. Tanya Bruce does thanks for listening.
"soft bank" Discussed on AP News
"Music app today. Japanese technology conglomerate, SoftBank says it suffered a twenty three percent decline in third quarter profits. Softbank didn't give a fiscal year forecast late last year. Soft Bank raised more than eighteen billion dollars at an IPO of its Japanese mobile company. The company offers internet and solar like trysofi services, and it was the first mobile carrier to offer the apple iphone in Japan. It's also behind the pepper the talking companion robot. To South Koreans were arrested after trying to smuggle about two hundred fifty two thousand live ills out of Croatia. Police say the pair ages thirty eight and forty seven were caught with the fish packed in eight cases at grabs international airport. Their names weren't given. They were arrested because European eels are a protected species. Croatian media say their market value is estimated at two hundred four thousand dollars ales are commonly used in Korean Chinese and Japanese cuisine and the dishes are popular but can be expensive Croatian. Authorities said Thursday the to face charges of destroying protected natural goods, they could end up in jail. If convicted a Mars Rover being built in Britain has been named after British DNA, scientists Rosalind Franklin. The Exo Mars mission will search for evidence of life on Mars. It'll be launched next year. The name was chosen by a panel of experts from a list of thirty six thousand choices submitted to them. Franklin was an English scientist best known for groundbreaking work on the molecular structure of DNA. The mission is a joint project between the European and Russian space agencies. Radio news. Former Michigan.
"soft bank" Discussed on AP News
"Japanese technology conglomerate, SoftBank says it suffered a twenty three percent decline in third quarter profits. Softbank you didn't give a fiscal year forecast late last year. Soft Bank raised more than eighteen billion dollars at an IPO of its Japanese mobile company. The company offers internet and solar like trysofi services, and it was the first mobile carrier to offer the apple iphone in Japan. It's also behind the pepper the talking companion robot, the National Australia bank's chief executive and chairman have announced their resignations. Thursday's announcement came days after they were singled out for criticism in a scathing national report on misconduct in the financial sector. The banks says chief executive Andrew Thorburn will quit as of February twenty eighth. It's chairman Ken Henry will retire from his board wants Thorburn's, permanent replacements found Thorburn and Henry both gave evidence to Commissioner. Kenneth Hain in his misconduct. Inquiry. Hanes recommended sweeping changes to Australia's banking industry to protect the interests of customers as well. As shareholders Italy has its own black face controversy after Gucci withdraws a racially insensitive. Sweater AP. Correspondent Warren Levinson reports. Gucci has apologized and pulled its black face Bollock lava from sale that's not what the eight hundred ninety dollars item was called, of course. But the black turtleneck reaches up to cover the lower half of the face with a bright red cut out around the mouth. It's called up uncomfortable associations in Gucci's home country, which has a troubled racial history. Taunting of black players is a regular occurrence at Italian soccer games, racial insults. Hurled at the country's first black cabinet minister ended up in court with a rival politician. Convicted the Gucci statement says the firm hopes to turn the controversy into a learning experience. I'm Warren Levinson Trump taxes, I'm Tim Maguire within AP news at House Democrats, consider proposals to compel presidents and presidential candidates to make public. Their tax returns. House. Speaker Nancy Pelosi says they want to see President Trump's taxes. I think overwhelmingly public wants to see the president's tax returns acting attorney general Matthew Whitaker will appear before the House Judiciary committee tomorrow as scheduled committee, chairman, New York Democrat Jerrold Nadler says the panel will not issue a subpoena for Whitaker who had earlier agreed to appear voluntarily Virginia's two democratic senators and seven congressional Democrats in a joint statement, repeat their call for governor. Ralph Northam to resign. They also expressed disappointment with attorney general Mark herring over his black face scandal and ask for investigation into the sexual assault allegations made against Lieutenant governor Justin Fairfax, but it did not ask for their resignations. I'm Tim Maguire. AP digital news back in a moment with Amazon music of voices. All you need. Alexa,.
"soft bank" Discussed on AP News
"Japanese technology conglomerate, SoftBank says it suffered a twenty three percent decline in third quarter profits. Softbank didn't give a fiscal year forecast late last year. Soft Bank raised more than eighteen billion dollars at an IPO of its Japanese mobile company. The company offers internet and solar like trysofi services, and it was the first mobile carrier to offer the apple iphone in Japan. It's also behind the pepper the talking companion robot. A Mars Rover being built in Britain has been named after British DNA scientists Rosalind Franklin. The Exo Mars mission will search for evidence of life on Mars. It'll be launched next year. The name was chosen by a panel of experts from a list of thirty six thousand choices submitted to them. Franklin was an English scientist best known for groundbreaking work on the molecular structure of DNA. The mission is a joint project between the European and Russian space agencies commercial space travel, taking other steps to becoming a reality. AP's? Jennifer king reports NASA says to companies are getting close to sending real astronauts into space. I'm commercial vessels NASA. And SpaceX say they're aiming for March debut of the first crude commercial space capsule. No one will be on board for the dragons inaugural test flight to the international space station. But if all goes, well, two, astronauts, we'll take a test flight in July, astronauts have been going into space from 'cause Don and this would be the first launch of US astronauts into. Orbit from US soil since NASA shuttle program ended Boeing's also working on a star liner space capsule that might be ready for astronauts soon as August. I'm Jennifer king. Radio news. Former Michigan congressman.
"soft bank" Discussed on AP News
"Today. Japanese technology conglomerate, SoftBank says it suffered a twenty three percent decline in third quarter profits. Softbank didn't give fiscal year forecast late last year. Soft Bank raised more than eighteen billion dollars at an IPO of its Japanese mobile company. The company offers internet and solar electricity services. And it was the first mobile carrier to offer the apple iphone in Japan. It's also behind the pepper the talking companion robot. A Mars Rover being built in Britain has been named after British DNA scientists Rosalind Franklin. The Exo Mars mission will search for evidence of life on Mars. It'll be launched next year. The name was chosen by a panel of experts from a list of thirty six thousand choices submitted to them. Franklin was an English scientist best known for groundbreaking work on the molecular structure of DNA. The mission is a joint project between the European and Russian space agencies. Wherever Cardi B has a strong chance of winning her first ever Grammy. And she says she's feeling nervous. She's told the Associated Press she's been filled with anxiety about winning an award and executing her performance at the sixty first annual Grammy awards on Sunday. She says she is trying to stay on an even keel preparing for the best of the worst rappers nominated for five Grammies competing for both album and record of the year. Trump taxes. I'm Tim Maguire within AP news minute house. Democrats consider proposals to compel presidents in presidential candidates to make public their tax returns. House. Speaker Nancy Pelosi says they want to see President Trump's taxes. I think overwhelmingly public wants to see the president tax returns acting attorney general Matthew Whitaker will appear before the House Judiciary committee tomorrow as scheduled committee, chairman New York Democrat Jerrold Nadler says the panel will not issue a subpoena for Whitaker who had earlier agreed to appear voluntarily Virginia's two democratic senators and seven congressional Democrats in a joint statement repeat their call for governor Ralph north to resign. They also expressed disappointment with attorney general Mark herring over his black face scandal and ask for investigation into the sexual assault allegations made against Lieutenant governor Justin Fairfax, but it did not ask for their resignations. I'm Tim Maguire. More news right after this with Amazon music of voices. All you need. Alexa, play Whitney Houston on Amazon music. Okay. Get access to over fifty million songs. Download the Amazon music app.
"soft bank" Discussed on AP News
"Enthusiasm are helping to expand the service and supporters say virtual visits make it easier for patients, and they expect telemedicine to catch on over time. I'm Julie Walker. Japanese technology conglomerate, SoftBank says it suffered a twenty three percent decline in third quarter profits. Softbank didn't give a fiscal year forecast late last year. Soft Bank raised more than eighteen billion dollars at an IPO of its Japanese mobile company. The company offers internet and solar like trysofi services, and it was the first mobile carrier to offer the apple iphone in Japan. It's also behind the pepper the talking companion robot. Trump taxes. I'm Tim Maguire within AP news at House Democrats, consider proposals to compel presidents in presidential candidates to make public their tax returns. House. Speaker Nancy Pelosi says they want to see President Trump's taxes. I think overwhelmingly the public wants to see the president's tax returns acting attorney general Matthew Whitaker will appear before the House Judiciary committee tomorrow as scheduled committee, chairman, New York Democrat Jerrold Nadler says the panel will not issue a subpoena for Whitaker who had earlier agreed to appear voluntarily Virginia's two democratic senators and seven congressional Democrats in a joint statement, repeat their call for governor. Ralph Northam to resign. They also expressed disappointment with attorney general Mark herring over his black face scandal and ask for investigation into the sexual assault allegations made against Lieutenant governor Justin Fairfax, but it did not ask for their resignations. I'm Tim Maguire. AP digital news back in a moment with Amazon music of voices. All you need. Alexa, play Whitney Houston on Amazon music. Okay. Get access to over fifty million songs. Download the.
"soft bank" Discussed on AP News
"The Amazon music app today. Japanese technology conglomerate, SoftBank says it suffered a twenty three percent decline in third quarter profits. Softbank it and give a fiscal year forecast late last year. Soft Bank raised more than eighteen billion dollars at an IPO of its Japanese mobile company. The company offers internet and solar like trysofi services, and it was the first mobile carrier to offer the apple iphone in Japan. It's also behind the pepper the talking companion robot. Many miles on Amsterdam's famous canals crumbling and an urgent need of repair following years of neglect. A new report says that repays to the canal a complex lodge and urgent tasks Amsterdam municipality, which is responsible for maintaining some one thousand six hundred bridges three hundred seventy miles of canals and five traffic tunnels says the report found that six miles of the walls are in very bad condition and elevated risk of failure to South Koreans were arrested after trying to smuggle about two hundred fifty two thousand live eels out of Croatia. Police say the pair ages thirty eight and forty seven were caught with the fish packed in eight cases at grabs international airport. Their names weren't given. They were arrested because European eels are a protected species. Croatian media say their market value is estimated at two hundred four thousand dollars. Heels are commonly used in Korean China. Knees and Japanese cuisine and the dishes are popular but can be expensive Croatian. Authorities said Thursday the to face charges of destroying protected natural goods, they could end up in jail if convicted Trump taxes, I'm Tim Maguire within AP news minute house. Democrats consider proposals to compel presidents in presidential candidates to make public their tax returns. House speaker Nancy Pelosi says they want to see President Trump's taxes. I think overwhelmingly public wants to see the president's tax returns acting attorney general Matthew Whitaker will appear before the House Judiciary committee tomorrow as scheduled committee, chairman, New York Democrat Jerrold Nadler says the panel will not issue a subpoena for Whitaker who had earlier agreed to appear voluntarily Virginia's two democratic senators and seven congressional Democrats in a joint statement, repeat their call for governor. Ralph Northam to resign. They also expressed disappointment with attorney general Mark herring over his black face scandal and asked for invest. Negation into the sexual assault allegations made against Lieutenant governor Justin Fairfax, but it did not ask for their resignations. I'm Tim Maguire. More news right after this with Amazon music of voices. All you need. Alexa, play Whitney Houston on Amazon music. Okay. Get access to over fifty million songs. Download the.
"soft bank" Discussed on AP News
"Today. X checking the president President Trump's state of the union address touted his administration's accomplishments issued a warning about the border while calling for unity. These press did some fact checking up some of his claims discovering a few half truths and some fuzzy math among his statements. The president talked about more women in the workforce. All Americans can be proud. That we have more women in the workforce then ever before. However, AP correspondent colleague long says he can't credit that to any of his policies. Of course, there are more women in the workforce. But that's due in part to population growth, the women's labor force participation rate. Right now is fifty seven percents, and that's according to the Labor Department the rate has ticked up recently. But it's down from twenty twelve and it peaked in two thousand at sixty percent. See also says he's been fighting for the little guy wages are rising at the fastest pace in decades and growing for blue collar workers who I promise to fight for their growing faster than anyone else thought possible. AP's log says they claim appears to be founded that's an unsupported statement because the data has only been captured since two thousand six so it hasn't been for decades. When it comes to employment among minorities, African American Hispanic American and Asian American unemployment have all reached their lowest levels ever recorded. Log says that using the most current data available. It's true they reached record lows during his presidency. But what he's not saying is that the levels for all three have gone up since of course, addressed what is likely his most divisive policy point the border wall. San Diego used to have the most illegal border crossings in our country. In response. A strong security wall was put in place this powerful barrier. Almost completely ended illegal crossings log says it's more complicated than that border patrol arrests. In San Diego went down about ninety six percents. After a wall was built there and illegal crossings are also down in Yuma. Arizona after a while his belt, but the government accountability office reported in two thousand seventeen at the border patrol had no proper metrics to determine how the wall contributed to overall border security. AP fact, check Rob Lowe fronts. Embattled R and B singer r Kelly's plans for an international tour may have to leave out Australia, where a Japanese technology conglomerate SoftBank says it suffered a twenty three percent decline in third quarter profits. Softbank didn't give a fiscal year forecast late last year. Soft Bank raised more than eighteen billion dollars at an IPO of its Japanese mobile comes. Money. The company offers internet and solar like trysofi services, and it was the first mobile carrier to offer the apple iphone and Japan. It's also behind the pepper, the talking companion robot, Trump and Syria. I'm Tim Maguire, the AP news. President Trump insists getting US troops out of Syria. Does not mean the fight against the Islamic state group is over can't do better than we've done military terribly. But you will have people. That will be around. And we'll search and you'll search him out and we'll find him, and hopefully, they won't be around very long. There are concerns withdrawing forces from Syria could imperil gains against the militants there as well as neighboring Iraq, Massachusetts democratic Senator Elizabeth Warren who was working toward launching a twenty twenty presidential campaign as again apologize for her claim of a native American identity. I am sorry that extended confusion about tribal citizenship and tribal sovereignty and for harm caused the latest is a report she'd listed her race as American Indian on a Texas Barbara destruction card in nineteen Eighty-six. I'm Tim Maguire more news right after this with Amazon music of voices. All you need. Alexa, play Whitney Houston on Amazon music. Okay. Get access to over fifty million songs. Download the Amazon.
"soft bank" Discussed on AP News
"Hot cocoa and one more foot of snow. I forgot that like this last longer. This trail these ones. Stories. They start with us. Stay with us. Plan. Your main winter came away dot com adapting to security needs in the future. We'll be the focus of an upcoming NATO summit AP's Charles de LA desma reports the meeting is set to take place in London. And President Trump says he'll be there sixty general Jens Stoltenberg says Donald Trump will meet with his counterparts from the military lines at the summit in London in December Stoltenberg comments that he does will address the security challenges face now. And in the future Soltenberg hopes will continue to adapt in order to keep its population of almost one billion people say data's being announced for the summit. I'm charles. Japanese technology conglomerate, SoftBank says it suffered a twenty three percent decline in third quarter profits. Softbank didn't give a fiscal year forecast late last year. Soft Bank raised more than eighteen billion dollars at an IPO of its Japanese mobile company. The company offers internet and solar like trysofi services, and it was the first mobile carrier to offer the apple iphone in Japan. It's also behind the pepper the talking companion robot. Someone attacks the tombstone of Karl Marx with a hammer, the German philosopher and economist was buried in Highgate cemetery in London in eighteen eighty three and his grave was later topped with a large bronze bust and a marble plaque. It's the plaque of the vandals damaged and a spokesman for the cemetery says it'll never be the same again. And it'll bear those battle scars for the future. Police said that they have investigated, but they closed the case without making any arrests Trump and Syria. I'm Tim Maguire, the AP news minute. President Trump insists getting US troops out of Syria. Does not mean the fight against the Islamic state group is over can't do better than we've done military terribly. But you will have people. That will be around. And we'll search him out and you'll search him out and we'll find him, and hopefully, they won't be around very long. There are concerns withdrawing forces from Syria could imperil gains against the militants there as well as in neighbouring, Iraq, Massachusetts democratic Senator Elizabeth Warren who was working toward launching a twenty twenty presidential campaign as again apologize for her claim of a native American identity. I am sorry that extended confused more news right after this with Amazon music avoid all you need. Alexa, play Whitney Houston on Amazon music. Okay. Get access to over fifty million songs. Download the music app today..
"soft bank" Discussed on AP News
"AP digital news network. Democratic opposition was on full display during President Trump state of the union address AP Washington correspondent saga megani? Reports on the women in white. It wasn't just house speaker Nancy Pelosi behind him. It was a sea of white in front of him democratic congresswoman in a stunning show of solidarity dressed in white in a nod to suffrage us and in contrast to men in dark suits on the other side of the aisle. They literally danced as the president mentioned more women in the workforce, don't sit yet like this noting. There are now more women than ever in congress. Setting off chance, and that's great. Congratulations. That's great saga megani? Washington. Japanese technology conglomerate, SoftBank says it suffered a twenty three percent decline in third quarter profits. Softbank it and give a fiscal year forecast late last year. Soft Bank raised more than eighteen billion dollars at an IPO of its Japanese mobile company. The company offers internet and solar like trysofi services, and it was the first mobile carrier to offer the apple iphone in Japan. It's also behind the pepper the talking companion robot Academy Award winning. Actress Jennifer Lawrence is engaged to avoid friend, cook Maroney her publicist confirmed the engagement but didn't provide additional details. People magazine reported in June that Lawrence whose twenty eight was dating Maroney who's the director of an art gallery in New York City. Lawrence has finished filming x men dark Phoenix, which is expected in theaters in June. Trump and Syria. I'm Tim Maguire, the AP news minute. President Trump insists getting US troops out of Syria. Does not mean the fight against the Islamic state group is over can't do better than we've done military terribly. But you will have people. That will be around. And we'll search and you'll search him out and we'll find him, and hopefully, they won't be around very long. There are concerns withdrawing forces from Syria could imperil gains against the militants there as well. As in neighboring Iraq, Massachusetts democratic Senator Elizabeth Warren who was working toward launching a twenty twenty presidential campaign as again apologize for her claim of a native American identity. I am sorry that I extended confusion about tribal citizenship and tribal sovereignty and for harm caused the latest report chewed listed her race as American Indian.
"soft bank" Discussed on AP News
"App today. Japanese technology conglomerate, SoftBank says it suffered a twenty three percent decline in third quarter profits. Softbank you didn't give a fiscal year forecast late last year. Soft Bank raised more than eighteen billion dollars at an IPO of its Japanese mobile company. The company offers internet and solar like trysofi services, and it was the first mobile carrier to offer the apple iphone in Japan. It's also behind the pepper the talking companion robot. Academy Award winning. Actress Jennifer Lawrence is engaged to avoid friend, cook Maroney her publicist confirmed the engagement but didn't provide additional details. People magazine reported in June that Lawrence whose twenty eight was dating Maroney who's the director of an art gallery in New York City. Lawrence has finished filming x men dark Phoenix, which is expected in theaters in June. India's become the world's second largest importer of liquefied petroleum gas or LPG the country's government's been pushing for cleaner alternatives to traditional cooking fuels such as firewood, which can cause heavy pollution and health problems. India's petroleum minister says imports of LPG grew twelve point five percent over the past five years to twelve million metric tons in two thousand eighteen twenty nineteen surpassing Japan and putting India in second place behind China India's financial year runs from April to March. The petroleum minister says demand for LPGA is projected to rise. Thirty four percent from two thousand fourteen to twenty twenty five. AP radio news. I'm Tim Maguire. The house intelligence committee.
What's next for WeWork?
"Today. We're taking a look at we work last week. We learned that one of the company's major investors scaled back a planned investment in the shared office provider. Softbank is detailing its bed on we work the Japanese conglomerate announced Monday, it's investing an additional two billion dollars in the co working start up a step back from the sixteen billion dollar investment. That would have given SoftBank a controlling stake. We work also announced last week that it's rebranding itself as the week company. VFAT's Eric Platz spoke with Andrew edge cliff Johnson about the implications of soft bank's decision, which might mean sooner than expected peo-, Eric. Can you set the scene? What exactly is we work? I'm what pitches would be making to investors. And so we work as rapidly growing property company that has really pitched itself as tech company. They now have offices in more than twenty countries. They have more than four hundred thousand office space users they like to call the members, and they're now generating more than two and a half billion dollars in revenue on an annualized basis. So it's nothing to scoff at and they're known for their office with Instagram art boutique, coffee beans, what are infused with grapefruit or raspberries. I've been to a few of them. It's all about kind of the community space and people interacting, and that's what they've the pits themselves to office tenants also to investors like J P Morgan tier price and fidelity that you know, this is not a drab office space or the traditional landlord that. You've message in the past. It will sell as much nicer than orifices. So this pitches clearly worked we works managed to raise enough money to become one of the world's most valuable private companies. But it starts to thousand nineteen with news of another major investment. And yet this one didn't have quite the same response. It seemed to raise more questions than previous rounds. What exactly happened it did? So at the end of last year, they were in really detailed negotiations with SoftBank and it Saudi-backed vision fund where the two were expected to invest about sixteen billion dollars into we work who's going to attain the same valuation of about forty two billion dollars. But what the Saudi backed vision from going to be doing was buying out. Earlier investors, like J P, Morgan Wellington and others. Now investors within the vision fund balked at this. They said, you know, this is a huge investment for what's actually not really a tech company, which is more a property company. At least that's how investors that we spoke to it's seen it. And so what ended up happening was SoftBank kind of started curtailing. Those discussions and at the same time they had an IPO of their mobile unit in Japan that went quite embarrassingly at dropped more than ten percents on its debut. And then at the same time, you saw tech shares broadly in the market declining. And suddenly SoftBank showed a lot more hesitancy than they did at the end of last year. So when they started this year, the sixteen billion dollars got slimmed down six billion dollars and evacuate them down to two billion dollars with really only half of that being a new investment into we work in the primary market where they're actually buying new sheriff's from the company and another billion of that is actually buying out, employees and other investors who are ready for an exit. And so while this did raise the valuation to forty two to forty seven billion dollars, depending on how you calculate it. It actually did raise a lot of questions about soft bank's willingness to invest billions dollars more into the company and so any private company of this scale. And we looks only about nine years old. This point will raise speculation that is going to have to public sooner or later, but particularly given that backdrop of weaker public markets way on soft buying Conway on. Speculations for what's a reasonable some money to put into a company like we would what does this do for expectations of possible? IPO of we would think this definitely changed the discussions within we work about how much runway they had as a private company because if SoftBank isn't going to be pumping billions of dollars more each year for the next few years into it to fund its losses. They're going to need to tap public investors at a certain point, and what they did last year was they raised seven hundred and two million dollars in public debt markets, and that was a way to both familiarize the market with we work and also to give them the kind of rigor of quarterly reporting standards, which is something Adam Newman has derided a bit as not long-term enough focused, but it has given the market and idea of what we work is it's familiarizing them with things like community adjusted EBITDA and other financial terms that they may not understand. And now it looks like just given that there's some nervousness about what SoftBank will keep putting in. They've really ready themselves for an IPO when we talked to sources booth in the company, that's what they've said. Whether they go this year or next year. That's an open question. I think they're gonna wanna see what happens with Uber lift companies, like Pailin tear and slack. That are ready to go before them to see how the market accepts their debut.
Uber enters trailer leasing business
"The driver, and you rent the trailer and the truck and you can have your product delivered. Okay. Okay. What what's what's different about that versus using a trucking company that does the same thing? Well, trucking company may not be available. We do have a shortage of truckers. I mean, nothing different. Maybe just competitive. All right. Now, the largest single funding source for US startups. This is pretty interesting. You know, we talk about the story involving the journalist that was killed. More apparent about that. And people are saying we've got to go to war a Saudi Arabia. We need some sanctions that sort of thing. Well, the largest single, and this is gonna shake the tech community. They don't they won't know what to do with this the largest single funding source for US startups is Saudi Arabia. According to the Wall Street Journal, twenty sixteen at least eleven billion of Saudi money has gone to American startups through soft bank's ninety two billion dollar vision fund Saudis have contributed forty five billion to tech focused funds. This according to pitchbook. The research firm now Saudi money has gone to companies like Uber. We work in augmented reality devices like magically Inc. That's pretty interesting. It is another reason why it's not a good idea for us to get war with Saudi not not not in our best financial interest. They're not our friends, and they're not nice people things. They throw gay men off of buildings and behead p no doubt about it. The scumbag. Treat women way. They treat humanity. Right. Seven twenty five. We got the road to November madness. See a few people on hold that one away in you can't at five one two eight three six zero five ninety Don show. Jay on roofing, the most trusted roofer in Austin, Texas, since nineteen seventy nine and now a lot of beat might be just now discovering that you have some roofing issues to all the rain that we've had lately and is starting to the problems are starting to show themselves. So you can't trust Jay com. That's for sure. I know you have a lot of choices when it comes to ripping an Austin, but you can definitely trust Jay con-. That's one of the reasons why they have an a plus rating from the BBB fact, mini business organizations have just bestowed jacomb with so many accolades over the years, really really great work that they do. And if it's not time for new roof, certainly you need to have them come out and do an inspection anyway to make sure everything is okay. I talk about these inspections a lot because first of all they charge you nothing to do these inspections absolutely free. But that does not mean that they're not gonna do a very thorough inspection. And if you don't have any issues they're upfront about that. They never tried to say anything you don't need. If there's a problem that let. No and many times it'll be a minor repair. And you can avoid much bigger more expensive issues down the road J con five one two four seven nine five one. Oh. Huge savings on new
Can Netflix Avoid Another Earnings Miss?
"We deliver tickets t shirts and everything. You need to what you really get the so much more FedEx delivery, passion, what we deliver by delivering. This is tech news briefing im Tanya boost does reporting from the newsroom in New York on Tuesday when net flicks reports. Third quarter earnings, these streaming company will get to prove to investors that its earnings miss last quarter was just a passing blip and not a sign of a more serious slowdown. We'll check in with the experts, but I, the tech headlines. We have more details to report on Facebook's largest ever security breach. We now learn from Facebook that thirty million users had their access token stolen as opposed to the original estimate of fifty million. The not so good news is that of the thirty million involved. Fourteen million had their names and contact details, including phone numbers and Email addresses accessed along with such data as their gender and relationship status as well as the last ten places they checked into and fifteen. Most recent searches stay up to date with the latest details on the story. The journals. Kirsten grind covers it at wsj.com. Currently in China, there is a dot com deja-vu happening for the first time. Chinese start ups are getting more money than their US counterparts that seventy one billion versus seventy billion so far this year that pace with investment volume eighteen times what it was five years ago hasn't been seen since the two thousand tech stock bubble. But as with all good things, there may be already signs of a shakeout. The journals Fredge devora has more on the latest tech economics at wsj.com or on the w stay up. And now look at these SoftBank affect on tech IPO's since its launch. Last year, soft bank's tech focused vision fund has pretty much shaken up the venture capital industry pouring hundreds of millions of dollars if not billions into startups. And the journal's Eliot Brown says that Silicon Valley investors are now saying that SoftBank is the new IPO while others have dubbed a SoftBank investment. The Masa peo- named after SoftBank, founder and CEO Masayoshi sun coming up net flicks reports, results, Tuesday, Kennedy, void another earnings, miss and Kennedy. Ford one. In July net, flicks reported five point five million new subscribers for its second quarter, a drop that caused shares to tumble reaching a low of three hundred seventeen dollars in August will Tuesday's third quarter report mean a different story. Let's get right into it. Back with us is rob Enderle of the Enderle group. He joins us from Oregon to talk the state of streaming giants. Money, welcome back. Rob, thriving me so word on the street is that analysts are giving net flicks the benefit of the doubt this go around because of last month's miss. There's a sense of cautiously optimism, but what exactly is projected patient is that Netflix is gonna do very well. This quarter issue courses that last quarter they missed on subscriber numbers. And since then the stock has been a little bit uneven and folks have been just a little concerned about what's going on. That's companies facing a lot of competition. Disney, Amazon are the two biggies that. That that they're looking at Disney's probably the most concerning because they're gonna pull most of their titles from net flicks and have them on their own service. The the in terms of surveys, as we got to the end of the end of the day, looks like most folks were buying those. Those buying in those holding almost balanced. The sellers were were about where the minority, which suggests that everybody's pretty excited about these financial expecting the net flicks tub to meet or beat on this cycle and not have another miss with regard to subscribers this time around. Increasing competition out there and how much of an impact is that becoming just sustainability in the face of all of this rising competition wilder still the company to beat. I mean at Disney really hasn't fully entered the market yet. They're they're a building threat and Amazon and Amazon prime. You get it kind of free when you get there shipping deal so that. So they kind of come in from the side but haven't appeared to hurt that flicks of that much the credit for the loss a last quarter. Most of the fact that that fix where you didn't have that much in terms of new titles going on last last quarter to draw people in. And so the. So that's where the the lack of growth has been credited, but we'll see the, they've got some news new shows coming out this quarter. They're making some adjustments with word of the programming. Some of the ones that are under under under performing a like iron fist have been cancelled. So overall, the. Properties looking pretty good that the as I say, the difficulty I think is the where the most concern is regarded Disney Disney's the powerhouse and the combination of facing Disney as a competitor plus losing Disney titles if likely very painful when it happens, has a history of blips and tumbles followed by, you know, return to business as usual. You know, those bounces have seen the bar getting higher and higher though perhaps that's where we're at. So what do you think is next on Netflix to do list in terms of making sure they stay ahead of the game to continue to bring out new new and compelling content. They they almost owned the last picture award show so that so the MA seem to be a an awful lot of the of the awards going forward, motion your company. They're sending out against the traditional cable companies in terms of awards and and recognition for their their custom shows. And that's what they've gotta do. They have to continue to bring people into the platform, have unique content that ties people to it. So they both retain their existing customer base and then they grow it over time as people cut the cord and move away from the from the traditional networks. So that's what they gotta do. Their basically competition with the networks networks are falling off. Netflix is one of several streaming companies picking up and right Amit continued to be the company to beat segment. But Disney Disney remains a major threat because boy, nobody. Nobody runs against Disney for long. We will leave it on that note rob Enderle. Thank you so much. Pleasure. Check back next podcast to see how it all shakes down. That's it for this edition of tech news, briefing reporting from the newsroom in New York. I'm Tanya boost does. Thanks for listening.
China, Bloomberg and Nissan discussed on
"Back they've taken five hundred billion dollars a year for many years five hundred billion we have really, rebuilt China you might remember that the end. Of last week Beijing released List of objects goods. Consumer goods sixty billion dollars worth that it intends to hit with tariffs this obviously in retaliation for President Trump's plan to impose duties on two hundred billion. Dollars worth of Chinese imports meantime China's central Bank is imposing, a reserve requirement for. Twenty percent on some trading for four x. forward, contracts this obviously will make it a. Little more. Expensive to bet against. The Chinese currency Nissan has agreed to, sell it to electric car battery business to, China's. Envisioned group no price has been disclosed but under the deal Nissan would be keeping a twenty five. Percent stake in the business Nissan had been planning on selling the unit. To a private equity group in China that deal, collapsed about a month, ago and on earnings watch lookout for. HSBC it will be reporting interim results investors are looking for. HSBC to deliver. I better message on cue. To revenue versus growth and they'll be watching for, the Bank Margin outlook, as well, h SBC sizable trade finance business will also be in the spotlight, given the fact that we. Were talking a lot about these trade tensions and how they're intensified SoftBank is. Another, company to watch today the stock as well with quarterly results coming out we get more on that from. Bloomberg Susanna Palmer soft bank's operating income probably fell in the June quarter amid sluggish. Domestic telecom earnings and assuming a lower spectrum exchange gain at sprint valuation gains for. Soft bank's tech funds probably, weren't enough to offset, that since it's flip cart stake sale to WalMart hasn't been completed. Soft bank's founder overseas the largest tech fund in history the vision fund has been pouring money into industries such as ride hailing ecommerce digital. Payments satellites semiconductors agriculture. Cancer detection and artificial intelligence Susanna. Palmer Bloomberg daybreak Asia we're thirty-three past. The hour we've got a relatively stable Japanese yen, against the dollar here at one eleven Twenty, four let's, get. To Tokyo checking with Bloomberg's. Jeff Sutherland he's got his eye on the market in Japan good morning Jeff Good morning yes it fairly slow here, some common, the market after some drama last week when the be okay said they'll allow some flexibility on bond yields right, now the yen a steady this morning after I climbed point four percent, on Friday on the, back of the US jobs report and then. Dr, fled also at that comes after they lost one point nine percent last week think tech companies. In automakers doing very well well the banks are lower for carmakers looking at Toyota, that step on change right now on Friday the company's earnings topped estimates and it. Kept it full year earnings forecast on changed. But then it flashed its prediction for, North American sales for a trade war talented. So there's more earnings out ahead this, week he. Mentioned SoftBank coming up later today and, another thing. To want to economic data we have GDP coming. Up on Friday All right, thanks to Bloomberg's Jeff Sutherland. One of the key focal, points for markets today is going to be the relationship, of the on, a with the dollar we had a strengthening in the New York session Friday, that, was after the PBOC. Imposed we were talking about this earlier reserve requirement of twenty percent on, some trading of foreign exchange forward contracts then a short, while ago, the economic observer a port reported that PBOC advisor was saying do you want won't break seven per dollar now, we got as weak as six Ninety-one during the New York session actually, this was late in, the Hong Kong session on Friday it strengthened. During, New York trading right now we're trading at six eighty four forty eight that's the offshore you. Want against the dollar Bloomberg dollar spot index meantime after a weaker session on Friday, it's moving up by about one tenth of one percent the US tenure treasury yield. Now at two ninety five we had the. Employment data to sift through on balanced, kind of mixed but it really doesn't take. Us away from the notion that the is going to raise rates at least two more times in calendar two thousand eighteen w._t._i. crude oil meantime sixty eight fifty four and a quick recap of equities nikkei now weaker by about one tenth of one percent in hong kong no trading yet kospi is up three tenths of one percent and in sydney limited trading and we have the a._s._x. two hundred higher.
Taking Softbank's lead, China, UK managers form $15 billion tech fund
"Asia it is eight thirty am in singapore on juliette folly and i'm bryan curtis and all i can say is holy cow lebron james goes to the lakers it just broke and it's quite amazing lebron james signing a four year one hundred and fifty four million dollar contract with the lakers juliette when you said it i said can it be true and indeed it is true it looks to be true at least that came from james agency will be tracking that in sports this morning with donald page now looking across the markets here in the asia pacific we are sliding a little bit more into kind of mixed to positive territory nikkei's down a little bit down three three tenths of one percent we have some other gainers and the date is young so we'll get to that in a moment but for now the top stories well some celebrating at tesla bloomberg's donohoe says workers tell her tesla's model three has hit its milestone production target of five thousand vehicles awake we did hear for one worker that you know kind of a cheer went up when the car reached the end of the line they managed to hit this target that is pretty critical one for them in a memo to employees is obtained by bloomberg ceo elon musk says we did ash and in doing so has become a real car company tesla is expected to release official numbers as early as tomorrow in california chinese companies are reportedly backing a fifteen billion dollar tech fund to compete with japan's softbank the financial times says china merchants group is teaming up with uk centric and beijing based spf group this would be to compete with soft bank's nearly one hundred billion dollar vision fund other unidentified groups are also said to be investing and central choson spf will be responsible for.
SoftBank's Son remakes his inner circle with three newcomers
"And it's nine thirty in the morning here in hong kong i'm bryan curtis and i'm doug krizner at bloomberg world headquarters in new york so we've got action underway now in hong kong where the hang sang is higher by three tenths of one percents shanghai composite though remaining bit on the back foot here we're down about two tenths of one percent after falling three point eight percent in the prior session other markets trading mixed we'll take a closer look coming up right now this hour's top business stories yeah we did get quite a lot weaker fix from the c at six point four five eight six versus the dollar versus six forty two thirty five so we'll keep an eye and see how much that weekend's right now we've got the offshore at six forty seven o eight let's get to some of these top stories starbucks shares down nearly two percent in late trading the coffee chain saying it expects global same store sales to rise just one percent this quarter that's way less than a two point nine percent that analysts were looking for in the meantime bloomberg intelligence says the rising trade tensions between the us and china may way on starbucks ambitious plans in that country and starbucks was not alone we had oracle slipping more than three percent in late us trading the software giant is forecasting profit for the current quarter well below what the street was forecasting it may be a sign that oracle is struggling to pivot to cloud computing soft bank's top executive is remaking his inner circle we have the story with bloomberg's rainy asensio founder masayoshi sun is elevating to execs and one outsider the board is set to approve marcello clarify rajiv mizra in katsunori saga as executive vice president this is the biggest overhaul in soft bank's top management since song brought in google execs in twenty fourteen tick off the telecom giants transformation into a strategic holdings company sawn has not named a successor but his previously said he plans to retire in sixties he turned sixty one this august rainy in incensio asia and the last remaining original member of the dow jones industrial average is kinda getting kicked out this would be general electric the is being replaced by walgreens boots ge was part of the average back in eighteen ninety six along with companies like distilling and cattle feeding national lead and us rubber it briefly left the index but it has been continuously there since about nineteen o seven last year if you're wondering ge's stock was down forty seven percent while the dow in terms of the industrial average was up about twenty five percent where thirtythree past the hour let's get you caught up on early trading in the asian session particularly were hong kong is concerned the hang sang is now higher by four tenths of one percents shanghai composite though down about three tenths of one percent we're looking at the onshore chinese currency at six forty six sixty five with a gain of about three tenths of one percent against the dollar offshore were trading six forty seven thirty six so we're seeing a strengthening in the offshore you want after some weakness that had us at six forty eight handle earlier the end kind of holding steady bev we had a big move to the strong side in the new york session right now we're trading one ten zero three in dollar yen the nikkei is down about two tenths of one percent a lot of what i will describe as risk off in markets during the us session the haven trade benefited treasuries in terms of lower yields we had tenure to eighty nine in late us trading and that's where we find ourselves right now in the tokyo session the two year at two fifty four so we're continuing to see about thirty five basis points in that two to ten year spread we've got an opec meeting this week in vienna and some debate as to whether or not there is going to be kind of a concerted effort to reduce output there has been conflicting signals on that front wti in the new york session was down one point two percent right now in the electron accession are higher by about four tenths of one percent at sixty five thirty in seoul the kospi is ahead six tenths of one percent korean won against.
SoftBank joins GM in self-driving car race; GM shares soar
"The lakefront wb the marketwatch markets own read right now the dow is down two hundred and twenty nine points the sp five hundred down fourteen and the nasdaq is down to wbz news time twelve fifty making sense of your dollars the w b b m noon business hour continues general motors is doing pretty well today the stock is up by more than ten percent after the company said it will spend more than a billion dollars while japan's softbank is kicking in two point two five billion to further gm's self driving car effort we're joined by john mcelroy automotive industry analyst and hosted auto line dot tv in detroit tell us more about this john yeah know this is very interesting what's going on softbank of course is the giant japanese investment firm and it's throwing a couple of billion dollars in the long general motors for a subsidiary that general motors has created called cruise automation llc and this is all about a thomas cars in fact more than just a ton of us economist ridesharing so imagine uber or lift with thomas cars that's what gm has getting into and four soft bank to pony up this kind of money has really caught everyone's attention because a general motors very clearly is not a silicon valley startup so the fact that softbank would invest this much money but gm has really sort of taken the auto industry by surprise well we've been watching they've been some areas that that we've been disappointed in this technology but it looks as if we're we're staying on that road we're still going to be there when when are we going to start seeing this john motors says it's going to watch a mobility service next year they have not announced which city they're going to launch it in but most likely san francisco or somewhere in the bay area and they will be the first traditional automaker with a mass produced a car no steering wheel no cuddles or anything like that and they they launch next year and i think this is going to be the beginning of a giant wave where we're going to see services like this spread over the next decade some are calling it the next big thing.
"soft bank" Discussed on Bloomberg Radio New York
"To sort of be on the front row of the sidelines of the commercial development of the internet so what i did what i did functionally as i started there with that which started in nineteen ninetysix okay so right is really ramping on really the internet was just starting and softbank had just acquired companies like ziff davis kingston technologies comdex trade shows and plus i trade shows and so there were seven different operating units that had had been put together here in the us outside of japan there was a grand total of four people that worked for softbank so i joined initially from an infrastructure perspective to really put together all the information systems the counting legal tax and other activities for the in in managing that reporting into japan and working with that on their strategies there that quickly as the commercial development of the internet sort of moved along rapidly the tasks that i were doing really moved much more into the investing side of life life which really starting in early two thousands i spent most of my time on the investing side partnership that was set up and that really was on some level the basis for a lot of soft bank's usa another internet activities really you know that's the flagship investment early on in the softbank story on the internet so it's funny to think of you as a venture investor your background is that of an accountant and and maybe it's my bias but i think of accountants as steady risk averse dotting is and crossing ts and making sure double entry accounting adds up.
"soft bank" Discussed on Bloomberg Radio New York
"With forty two percent soft bank's mossy son would get a board seat softbank has been shopping around with this this sprint unit for years it was gonna make deal in the real estate sector the san franciscobased industrial property developer pru lodges has agreed to buy denverbased dc t industrial eight point four billion dollars including debt the company say that the allstock deal is expected to close in the third quarter well watch out for some more trade related headlines this week i stop treasury secretary steven mnuchin leads delegation to china for some talks and then the fight over selling steel and aluminum to the united states may intensify let's get more on that from bloomberg's denise pellegrini commerce secretary wilbur ross says the us plans to extend relief from steel and aluminum tariffs to some countries but not all and at this point here's in saying which countries will get the exemptions in which won't the us is asking nations to accept quotas though in return for being able to sell their steel and aluminum without these tariffs temporary exemptions for countries including australia expire may i south korea is the only country with longterm exemption so far japan failed to win even a temporary exemption denise pellegrini bloomberg daybreak asia no comment from z t e about the impact of a fresh round of us sanctions the details from bloomberg's ramy inocencio after a week of delays the chinese telecom gear maker is out with results and z t e says earnings surged last quarter no word though on how the new sanctions might affect its business z t e says it is unable to accurately assess this because the situation is still ongoing the shenzhenbased company was planning on launching us smartphone with five g capability within a year instead it's reeling from a sevenyear ban on purchases from us suppliers after washington accused it of violating a us ban on selling to iran and then lying about it remy in asensio bloomberg daybreak asia dalian wanda is hoping it's eight billion dollar film complex will bring industry stardom to china more on that from bloomberg's yvonne man wander has opened its doors to the world class feldman production hub enchaine dow the oriental move metropolis has the world's largest studios covered with giant portrait of charlie chaplin marilyn monroe and bruce lee it's all part of tennis largest in glitziest effort yet.
"soft bank" Discussed on Bloomberg Radio New York
"Wizards beat the celtics the warriors lost global news twenty four hours a day powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm michael barr this is bloomberg bob michael thank you very much now five forty eight on wall street that is time to check in with bloomberg gadfly gadfly is bloomberg's global platform for fast commentary and instant analysis about pivotal financial markets and corporate news and we're joined live now by jennifer ryan bloomberg gadfly editor ian our london bureau jen good morning time to make masayoshi sun an offer he can't refuse meaning now maybe a good time that we should face so across the negotiating table that's right because it looks like the founder of softbank group might be a lot more accommodating this time we're talking here about sprint and t mobile which have restarted we started talks about a potential deal south shares rose the most since january on wednesday on the reports of the restart of talks why because sawn is starting to run out of cash and junk rated sprint is just one of south banks endless debt pets now why can't he just so more debt it's a fair question but that's actually not going to be straightforward for him because appetite for soft bank's high yield notes really has waned one issue here is that the fed is poised to raise rates at least three times this year and in addition there's a bit of bad blood between lean investors because of some sweeteners surrounding some holders of its twenty fifteen notes that left others out there is soft bank's alibaba stake yeah of course in theory is worth of our one hundred thirty billion dollars that's comparison self banks entire market cap of forty eight billion dollars but that is isn't easy to unload i mean for one thing softbank is going to need alibaba's approval to sell its interest in the open market i mean softbank is also hoping to raise cash by listing its domestic telecom business but it remains to be seen how much enthusiasm the public will have so putting this all together you kind of get the picture sawn needs to leverage and he's shorter play nice so much cash so little cash russian sanctions are creeping problem in world markets was twist here in the us sanctions against russian companies individuals well the list.
"soft bank" Discussed on KBNP AM 1410
"To talk about what's going on with the paris climate accord and the ramifications of the announcement that the us will withdraw but right now let's go to john tucker and get a check on news we'll start right there off pm with the 10year yield two point one six percent the lowest of this year as far as the equities go right now a whole hall made the pre market indications were higher but after the jobs report were pretty much flaw right now we open market believes jobs report of course offering mixed signals on the strength of the american league remarkably unemployment rate falling to four point three percent but the number of jobs created one hundred thirty eight thousand below the estimate of one hundred eighty two bill gross obgyn jannah's does it reflects the at least as far as he concerning he's concern maturing economy an konomi matures in this recovery is eight nine costa ten years in the making job growth comes down so i think it's to be expect a commerce department data today shield at us demand for foreignmade goods climbed exports declined causing the trade deficit to widen in april intelsat pat's merger with soft banks one webb has collapse both the effort to team it's fifteen billion dollars a debt as of over nothing's off the table according to an intelsat spokeswoman after these satellite operator announced its takeover accord with one with would expire at the close of business today without being consummated as a b five hundred right now unchanged twenty four twenty nine the dow up thirty four points to twenty one thousand one hundred forty eight the nasdaq oh support another record the tapped as sixty two sixty that his thirteen points right now again the 10year yield is at the two point one six percent were check the markets where he every fifteen minutes during the treaty right here on bloomberg radio.