WeWork directors sue SoftBank over decision to abandon deal
In a message to shareholders last month, SoftBank cited nearly a half-dozen conditions that WeWork officials hadn’t met as the basis for pulling out of purchase, including its failure to renegotiate some leases in the wake of the economic havoc caused by the Covid-19 pandemic.
SoftBank to sell up to $41 bln in assets to expand share buyback, cut debt
The move comes as SoftBank's share price has been hammered by inve...
Vertical ecom majors like Pepperfry, Nykaa feel the squeeze post Covid-19 outbreak
Firms say it may take a full year, at the minimum, for thi...
Paytm hires former Coverfox CEO after failed acquisition talks
Earlier this month, Paytm said it is set to make a foray into the business of selling insurance products with subsidiary Paytm Insurance Broking.
SoftBank-backed Grab raising $856 million from Japanese investors
Grab, backed by SoftBank Group Corp , said it will use the funding to offer lending, insurance and wealth management products and services for Southeast Asian consumers and small and medium-sized enterprises.
Covid-19: Growth and late-stage financing rounds under virus attack
Domestic startups, in funding talks with Asian investors, have put the process on hold.
Nikkei gains most since 2016 on hopes for BOJ buying; SoftBank Group jumps
The Nikkei average surged 7.1%, its biggest daily gain since February 2016, to finish at 18,092.35, its highest close in 1-1/2 weeks.
SoftBank Fund’s Rajeev Misra ran smear campaign against Nikesh Arora, others: Report
Misra, who oversees the $100-billion technology-focused fund that has backed companies like Uber, WeWork, Oyo and Paytm, is said to have orchestrated efforts that included planting negative news stories and directing a concerted shareholder campaign to oust Nikesh Arora.
BharatPe appoints Vijay Aggarwal as its chief technology officer
Aggarwal, who in his most recent stint was head of engineering at digital wealth management startup Syfe, was previously vice president of technology at online supermarket Grofers.
WeWork names real estate veteran Sandeep Mathrani its new ceo
WeWork said the new CEO will report to Executive Chairman Marcelo Claure, an executive at SoftBank Group Corp., which committed billions of dollars to WeWork in a rescue package last fall.
SoftBank’s Son considers new type of fund for startup investing
Before the first Vision Fund, SoftBank set up an entity called Delta Fund that was used for startup deals, including some that eventually were moved into the Vision Fund. Son could simply inject capital into that vehicle.
Nikkei hits 3-1/2-year low as investors flee equities; SoftBank Group tumbles
The Nikkei average shed 1.7 per cent to 16,726.55, a 3-1/2-year closing low, having reversed earlier gains in choppy trade.
SoftBank soars after unveiling $41 billion plan to slash debt
The Japanese tech conglomerate’s plans come as it contends with a growing financial squeeze on the company and its $100 billion Vision Fund, which has recorded two consecutive quarters of losses after its tech bets fell short.
Paytm founder Vijay Shekhar Sharma reveals road to profitability; may take 2 years to come out of red
Paytm plans to invest around Rs 10,000 cr over the next three years to expand financial services.
SoftBank won’t buy $3 billion in WeWork stock
Two weeks ago, SoftBank, which has already poured billions of dollars into the company, threatened to pull out of the stock purchase in part because of government investigations into the company. SoftBank’s payment for the shares would not have gone to WeWork but to the selling shareholders. The offer had an April 1 closing date.
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