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SoftBank to cut headcount at Vision Fund
CEO Masayoshi Son said on Monday that SoftBank Group Corp is planning to cut headcount at its flagship Vision Fund investing arm after a crash in the value of its portfolio pushed his conglomerate to a record quarterly net loss. CEO Masayoshi Son said on Monday that SoftBank Group Corp is planning ...
Updated: 08/08/2022
Shares of Indian payments firm Paytm surge 6 per cent
... on Monday, J.P. Morgan analysts said that there was an increase in gross margin print in payments business that resulted in an expansion of contribution margins to 13 bps. Processing charges of the company, backed by China's Ant Group and Japan's SoftBank Group Corp , fell 10.4 per cent to 6.94 billion rupees in a single day. The management clarified that it could negotiate better deals with their bank partners, and rationalized certain low margin online merchant accounts that resulted in lower payment ...
Updated: 08/08/2022
SoftBank posts record quarterly loss on Vision Fund woes
A man walks past a SoftBank store in Tokyo in this picture taken on June 16, 2020. BEHROUZ MEHRI AFPTOKYO SoftBank Group Corp booked a record $23 billion net loss in the three months to June, hammered by the turmoil at its sprawling Vision Fund unit booked a recording $23billion net loss of the three weeks to June: hammered by The SoftBank company's prime minister ...
Updated: 08/08/2022
SoftBank posts loss at Vision Fund unit in Q2
SoftBank Group Corp. was 9984. In the April-June quarter, T posted a 2.33 trillion yen loss of $17.23 billion at its Vision Fund unit. SoftBank Group Corp . was 9984. In the April-June quarter, T posted a 2.33 trillion yen loss of $17.23 billion at its Vision ...
Updated: 08/08/2022
Samsung, SoftBank, Foxconn report earnings this week
... Justice Ministry hosts a meeting to evaluate candidates to be granted pardons later this month. You can get the best of our coverage of Asia by following us on Twitter NikkeiAsia. The investors are bracing for another quarter of lackluster results at the SoftBank Group, according to Masayoshi Son. Some privately held unicorns are raising 'down rounds' fresh funding at valuations lower than in the past because of the weak performance of its portfolio of publicly listed tech stocks. Son has spent more time talking ...
Updated: 08/07/2022
Paytm's loss widens, targets profitability by September 2023
... Amazon Pay and Walmart Inc. s PhonePe, and a slew of smaller fintech startups. The company's shares have fallen more than 50% since its mega-$2.5 billion IPO fizzled in November due to concerns of a hazy path to profitability. Paytm , backed by Japan's SoftBank Group Corp and China's Ant Group Co. , said it would touch operating profitability by the quarter ending September 2023, amid continued revenue growth. The number of loans in Paytm 's loan-distributed business has gone up quickly in the past 12 months,...
Updated: 08/06/2022
Paytm posts loss on marketing, employee benefits
... benefit costs increased sharply, with total expenses rising by 84 per cent. Paytm disbursed loans worth 55.54 billion rupees in the quarter, nearly nine times more than a year ago, it said last month. The company, backed by China's Ant Group and Japan's SoftBank Group Corp ., raised $2.5 billion late last year in one of India's biggest initial public offerings, but made a dismal debut due to concerns over its high valuation and uncertain path to profitability.
Updated: 08/05/2022
WeWork returns to pre-pandemic levels, still in red
... Neumann and Miguel McKelvey , was once the world's most-f ted start-up with a peak value of $47 billion. A highly anticipated listing in New York was forced out in 2019 due to concerns over its business model and leadership of Neumann , 43. He left the group, which was bailed out by SoftBank , its largest shareholder. WeWork was floated last autumn in a blank-cheque merger that valued it at $9 billion, a fifth of what Neumann had been targeting originally. Despite improved occupancy rates, the New York-based WeWork remains unprofitable....
Updated: 08/05/2022
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