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    Masayoshi Son speaks during a joint announcement with Toyota Motor to make new venture to develop mobility services in Tokyo in October 2018.Alessandro Di Ciommo | NurPhoto | Getty Images Japanese tech conglomerate SoftBank intends to keep a majority stake in U.K. chip designer Arm when it lists the company through an initial public offering. Masayoshi Son, SoftBank's CEO, confirmed the news Thursday following a report from Bloomberg last month that cited people familiar with the matter. Son said that SoftBank plans to list Arm as soon as possible, but he added that the company is willing to wait if stock markets continue to be volatile. In February, Son said Arm will likely be listed within the fiscal year ending March 31, 2023. The billionaire declined to comment on what valuation he's seeking for Arm, whose energy efficient chip architectures are used in most of the world's smartphones and many other products. SoftBank was set to sell Arm to U.S. chip giant Nvidia for $40 billion but the deal was scrapped in March amid intense scrutiny from competition regulators in...
    SAM YEH | AFP | Getty Images Arm is set to transfer shares in its renegade China joint venture to a special purpose vehicle owned by parent company SoftBank, according to reports from The Financial Times and Bloomberg on Tuesday which cited people familiar with the matter. Arm currently holds a 47.3% equity stake in Arm China, The Financial Times reported. Following the share transfer, Arm will end up holding less than 20% of Arm China, according to Bloomberg. The report added that Arm will treat Arm China like any other license-paying customer as opposed to a fully controlled subsidiary. Assuming it goes ahead, the share transfer may help SoftBank to float the British chip designer in New York next year after it failed to sell the company to Nvidia for $40 billion. Headquartered in Shanghai, Arm China is a joint venture between Arm and Chinese private equity firm Hopu Investments. Arm China's onetime chief executive officer, Allen Wu, took control of the business after SoftBank bought Arm for $32 billion in 2016. The board of Arm China fired Wu...
    In this article NVDASAM YEH | AFP | Getty ImagesLONDON — British chip designer Arm is planning to cut up to 1,000 jobs, or 15% of its workforce, just weeks after its $40 billion deal with Nvidia collapsed. Widely regarded as the jewel in the crown of the U.K. tech sector, Arm employs employs around 6,400 people worldwide and roughly half of those are in the U.K. "Like any business, Arm is continually reviewing its business plan to ensure the company has the right balance between opportunities and cost discipline," an Arm spokesperson told CNBC Tuesday. "Unfortunately, this process includes proposed redundancies across Arm's global workforce." They added: "If the proposals go ahead, we anticipate that around 12-15% percent of people in Arm would be affected globally." While Arm is headquartered in Cambridge, England, the company has been owned by Japanese tech giant SoftBank, which paid around $32 billion for the firm in 2016. SoftBank announced in Sept. 2020 that it planned to sell Arm to U.S. chip giant Nvidia for $40 billion but the deal was scrapped in February...
    TOKYO (AP) — Japanese technology investor SoftBank said Tuesday its planned sale of the British semiconductor and software design company Arm to U.S. chip maker Nvidia has fallen through. SoftBank Group Corp. said Tuesday it plans an initial public offering of Arm after the intended sale to Nvidia failed due to regulatory problems. It said the IPO would come sometime in the fiscal year ending in March 2023. Rene Haas, a semiconductor industry veteran, was tapped as Arm’s new chief executive, replacing Simon Segars. “With the uncertainty of the past several months behind us, we are emboldened by a renewed energy to move into a growth strategy and change lives around the world again,” Haas said. SoftBank’s profit tumbled 98% in the quarter through December, as the value of its sprawling investments declined. Net profit for the fiscal third quarter totaled 29 billion yen ($252 million), down from 1.17 trillion yen the previous year, the company said. Arm, which SoftBank acquired in 2016, is a leader in artificial intelligence, IoT, cloud, metaverse and autonomous driving, with...
    In this article SOBKY NVDA SoftBank Group Corp. Chairman and Chief Executive Officer Masayoshi Son speaks during a press conference on November 6, 2019 in Tokyo, Japan.Tomohiro Ohsumi | Getty ImagesNvidia's planned acquisition of Arm from SoftBank has collapsed due to "significant regulatory challenges," the companies said in a joint release Tuesday. The deal was originally announced in 2020 and had a value at the time of $40 billion in Nvidia stock and cash. SoftBank said Arm will now prepare for a public offering within the fiscal year ending March 31, 2023. Arm makes technology that is at the core of every smartphone processor, including Apple's iPhones and Android devices running on Qualcomm chips. It counts nearly every major semiconductor company as a client. The deal faced scrutiny since it was announced. Arm, a British company, is a neutral supplier to several competing tech giants. Qualcomm and Microsoft both use Arm's main technology, its instruction set, and publicly opposed the deal. In December, the U.S. Federal Trade Commission sued to block the transaction on antitrust grounds. Last year, U.K....
    Uber CEO Dara Khosrowshahi speaks at a product launch event in San Francisco, California on September 26, 2019.Philip Pacheco | AFP via Getty Images SoftBank is selling about one-third of its stake in ride-hailing company Uber to cover losses on its investment in Chinese ride-hailing company Didi, two people familiar with the matter told CNBC. It's planning to sell 45 million shares, which will have a 30-day lockup. Uber shares fell 5% in extended trading following the report. The value of Uber's own Didi stake declined $2 billion last week following the June debut of Didi's American depositary shares on the New York Stock Exchange, as China reportedly planned fines and other punishments against the company amidst a broader crackdown on U.S. listed Chinese companies. This is breaking news. Please check back for updates.
    Flint water crisis: Former Michigan Gov. Rick Snyder and others will be indicted, reports say Alexey Navalny to Return to Russia This Week Despite Prison Threat SoftBank-backed online car dealer Auto1 to go public in first quarter, plans to raise $1.2 billion German online car trading platform Auto1 on Wednesday announced it is planning to list on the Frankfurt Stock Exchange in the first quarter of 2021. It is aiming to raise approximately 1 billion euros ($1.2 billion) from newly-issued shares in an initial public offering. The eight-year-old company sold over 615,000 cars and generated 3.5 billion euros in revenue across 30 countries in 2019. © Provided by CNBC Thousands of cars manufactured in Germany are stored at Immingham Docks on March 08, 2019 in Grimsby, England. It has been reported that many car manufacturers are stockpiling cars in the UK due to uncertainty ahead of the March 29 Brexit deadline. French car maker Peugeot has admitted it is stockpiling cars in the event of a no-deal Brexit. Should the deadline arrive without an extension or without...
    Broncos request GM interview with Patriots’ Dave Ziegler The New COVID Strain Is Now in These 5 States SoftBank Group Plans to Sell First Bond in More Than a Year (Bloomberg) -- SoftBank Group Corp. plans to sell its first bond in more than a year, joining a rush by issuers globally to tap credit markets while borrowing costs are low. © Bloomberg The SoftBank Corp. logo is displayed on a store window in Tokyo, Japan, on Friday, May 15, 2020. SoftBank Group Corp. expects to book a record 1.35 trillion yen ($12.5 billion) operating loss for the fiscal year ended March 31 when it reports results on Monday. The Japanese technology conglomerate is preparing to sell about 100 billion yen ($973 million) of hybrid bonds, according to co-lead underwriter Nomura Holdings Inc. It plans to price the deal this month. Borrowers from Asia Pacific have started the year with a flood of bond sales, with issuance in dollars and euros topping $20 billion in just two days. SoftBank Group’s bonds and stock price rebounded sharply last year after...
    US Coronavirus: Nearly 60,000 Americans could die of Covid-19 in the next three weeks. There are ways to turn things around, experts say Ireland Will Ease Curbs; Tokyo Has Record Cases: Virus Update SoftBank Hits New 20-Year High as Uber Gains, DoorDash Plans IPO (Bloomberg) -- SoftBank Group Corp. rose to a fresh 20-year high as the recent stock market surge boosted the value of holdings like Uber Technologies Inc. and brightened the prospects for portfolio companies going public. Load Error The U.S. ride-hailing pioneer recovered from stumbles after its initial public offering last year and its shares have gained more than 70% this year. Softbank’s 13% stake is worth about $11 billion. The Japanese company is also a major shareholder in U.S. delivery giant DoorDash Inc., which filed to go public this month. SoftBank’s stock gained 2.3% to 7,250 yen on Friday, the highest level since March of 2000 in the midst of the dot-com boom. Citigroup Inc. earlier this week raised its target price on SoftBank to 11,000 yen from 10,200 yen, citing improved earnings prospects...
    Calif. judge: Prisoners entitled to stimulus checks Best sales in October on home goods, appliances, tech and more. SoftBank’s Vision Fund Plans to Unveil a Blank-Check Company (Bloomberg) -- SoftBank Group Corp.’s Vision Fund will outline plans for a blank-check company in the next two weeks, seeking to capitalize on the investor frenzy surrounding the unusual fundraising vehicle. Rajeev Misra, the head of the Vision Fund, teased the effort in an interview with Bloomberg at the Milken Institute’s virtual conference, without providing details. Misra separately addressed reports from last month that SoftBank was the “Nasdaq whale” and downplayed its influence in stirring froth in the market for tech stocks. © Bloomberg Key Speakers At The 2019 Milken Conference Rajeev Misra Load Error Photographer: Patrick T. Fallon/Bloomberg The target size of the Vision Fund’s blank-check company has yet to be determined, according to a person familiar with the plans. SoftBank is expected to seek outside funds and may contribute some of its own capital, said the person, who asked not to be identified because the details are private. SoftBank’s...
    Japanese conglomerate Softbank has made unfortunate investments in startups, like WeWork and Uber, that resulted in a record operating loss of $13 billion. But despite that, Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group Corp., still took home an annual salary of some $20 million, according a company filing. And with some of that cash, Claure — who also owns Bolivian soccer club Bolivar and is chairman and owner of Inter Miami, a Major League Soccer franchise, with David Beckham — just bought a South Florida home. The executive spent $11.1 million for a spread at 5212 N. Bay Road in Miami Beach, which lines the Intracoastal Waterway dividing the beach from the rest of the city. The property, built in 1929 and located on a 0.63-acre lot, first went on the market in November 2019 for $13.4 million, then got a price cut in February to 12.9 million, according to Realtor.com. But instead of moving in, Claure plans on tearing it down. Sources say the 6-foot-6 CEO plans on demolishing the 5,356-square-foot, four-bedroom, three-bathroom home...
    Pregnant woman killed in Columbia, Maryland; baby in critical condition This Beloved Fast-Food Taco Restaurant Is Seeing Sales Plummet SoftBank Plans to Keep a Stake in Arm After Partial Sale: Nikkei (Bloomberg) -- SoftBank plans to keep a stake in the chip designer Arm, even if it sells a partial interest to Nvidia, Nikkei reported. © Photographer: Kiyoshi Ota/Bloomberg Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., bows during a news conference in Tokyo, Japan, on Wednesday, Feb. 12, 2020. In a sign of continuing struggles with its startup investments,�SoftBank�lost money again in its Vision Fund, one quarter after the Japanese company posted a record quarterly loss driven by the meltdown at�WeWork. The companies are currently negotiating terms, Nikkei reported citing sourcesSoftBank may take a stake in Nvidia after it buys Arm Nvidia and Arm may also merge through a share swap, and SoftBank would become a major shareholder in the combined company NOTE: July 31, Nvidia Said in Advanced Talks for SoftBank Chip Company ArmFor more articles like this, please visit us at bloomberg.com ©2020...
    SoftBank Group Corp. Chairman and Chief Executive Officer Masayoshi Son speaks during a press conference on November 6, 2019 in Tokyo, Japan.Tomohiro Ohsumi | Getty Images SoftBank will sell up to about 198 million shares of T-Mobile stock worth about $21 billion, the telecom company announced Monday. The sale, which represents about 65% of SoftBank's stake in T-Mobile, is part of SoftBank's efforts to free up cash as the coronavirus pandemic has hurt several of its key investments. Prior to the health crisis, WeWork, a portfolio company of SoftBank's $100 billion Vision Fund, failed to go public after its IPO prospectus was roundly criticized for its nontraditional corporate governance structure and huge losses.  In its May report to investors, SoftBank said the Vision Fund posted losses of $18 billion.  This story is developing. Check back for updates. Subscribe to CNBC on YouTube.Related Tags Breaking News: Technology Technology Mobile Social media SoftBank Corp
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