SoftBank to raise $100bn fund every 2-3 years

An employee works behind a logo of Softbank Corp at its branch in Tokyo March 2, 2011. (Reuters)
Updated 27 September 2018
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SoftBank to raise $100bn fund every 2-3 years

TOKYO: SoftBank Group Corp. plans to create a new $100 billion fund every two to three years, its Chief Executive Masayoshi Son told Bloomberg Businessweek in an interview published on Thursday.
Son has attracted more than $93 billion to his Vision Fund technology investment vehicle, and has flagged his intention to raise further financing.
Son plans to spend around $50 billion annually, he told Bloomberg. The Vision Fund has made investments in technology companies including ride-hailing firm Uber Technologies Inc. and shared-office space firm WeWork.


Apple’s Cook to China: keep opening for sake of global economy

Updated 23 March 2019
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Apple’s Cook to China: keep opening for sake of global economy

  • Cook’s comments come as Apple weathers sinking sales in China
  • Despite official pledges and repeated assurances that China would continue to open its markets

BEIJING: Apple chief executive Tim Cook nudged China on Saturday to open up and said the future would depend on global collaboration, as the United States and China remained locked in a bitter trade dispute.
“We encourage China to continue to open up, we see that as essential, not only for China to reach its full potential, but for the global economy to thrive,” Cook said at a China Development Forum in Beijing.
Despite official pledges and repeated assurances that China would continue to open its markets, some analysts worry that its reform project has slowed or even stalled under President Xi Jinping, who has sought greater control over the economy and a bigger role for state-owned firms at the expense of the private sector.
Cook’s comments come as Apple weathers sinking sales in China because of a contracting smartphone market, increasing pressure from Chinese rivals, and slowing upgrade cycles. The company reported a revenue drop of 26 percent in the greater China region during the quarter ending in December.
Before those results came out, in a January letter to investors, Cook blamed the company’s poor China performance on trade tension between the United States and China, suggesting that pressure on the economy was hurting sales in China.