SoftBank’s record IPO reaches $23.5 bln after extra share sale

SoftBank Group Corp is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalising the group’s transition from domestic telco to a monolithic global tech investor. Telco unit SoftBank Corp on Monday priced its stock at 1,500 yen apiece, as previously indicated. It also said it will sell all extra shares set aside for excess demand, taking the total just shy of the record $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Gro


SoftBank Group Corp is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalising the group’s transition from domestic telco to a monolithic global tech investor. Telco unit SoftBank Corp on Monday priced its stock at 1,500 yen apiece, as previously indicated. It also said it will sell all extra shares set aside for excess demand, taking the total just shy of the record $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Gro
SoftBank’s record IPO reaches $23.5 bln after extra share sale Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, group, stock, shares, sale, corp, share, billion, tech, extra, yen, set, giant, 235, reaches, record, softbanks, bln, softbank, ipo


SoftBank's record IPO reaches $23.5 bln after extra share sale

SoftBank Group Corp is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalising the group’s transition from domestic telco to a monolithic global tech investor.

Telco unit SoftBank Corp on Monday priced its stock at 1,500 yen apiece, as previously indicated.

It also said it will sell all extra shares set aside for excess demand, taking the total just shy of the record $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Group Holding Ltd, a SoftBank Group portfolio company.

The group, which controls the world’s biggest tech private equity fund at nearly $100 billion, will use the proceeds to invest in startups which have ranged from tiny games makers to U.S. ride-hailing giant Uber Technologies Inc.

“Demand was well above the number of shares on offer,” SoftBank Corp said, declining to disclose by how much.

The stock will debut on the Tokyo Stock Exchange’s first section on Dec. 19.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, group, stock, shares, sale, corp, share, billion, tech, extra, yen, set, giant, 235, reaches, record, softbanks, bln, softbank, ipo


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Amazon bet on Arm could weaken Intel’s hold on data centers, which make up one-third of its business

The plan is to allow customers to request instances that use the Arm chips, Garman said. So far, AWS instances using the Arm processors aren’t performing as well as comparable instances that rely on Intel chips, according to tests that one person ran. Still, the availability of Arm from the biggest cloud provider represents a win for Arm. What’s more, other cloud providers could start to release instances using technology from Arm, which was acquired by Softbank in 2016 for $32 billion. “Microso


The plan is to allow customers to request instances that use the Arm chips, Garman said. So far, AWS instances using the Arm processors aren’t performing as well as comparable instances that rely on Intel chips, according to tests that one person ran. Still, the availability of Arm from the biggest cloud provider represents a win for Arm. What’s more, other cloud providers could start to release instances using technology from Arm, which was acquired by Softbank in 2016 for $32 billion. “Microso
Amazon bet on Arm could weaken Intel’s hold on data centers, which make up one-third of its business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-01  Authors: jordan novet, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, hold, cloud, centers, servers, amazon, using, bet, business, weaken, aws, onethird, data, chips, intels, instances, customers, arm, garman, processors


Amazon bet on Arm could weaken Intel's hold on data centers, which make up one-third of its business

Energy-efficient processors based on the Arm architecture could be more widely deployed after Amazon Web Services’ introduction of Arm-based cloud-computing resources for developers this week.

The prospect of Softbank-owned Arm growing beyond consumer devices like smartphones and becoming a force in enterprise computing represents a challenge to Intel, whose processors are widely used inside servers operating in cloud and corporate data centers. Intel’s data center group is its second-largest by revenue, making up 32% of Intel’s revenue in Q3, and is growing faster than the company’s still-larger business of making chips for PCs and other devices.

These chips reduce the total cost of ownership of the servers that encase them, which can in turn benefit customers, Matt Garman, AWS’ vice president for compute services, told CNBC in an interview at the AWS re:Invent conference in Las Vegas this week.

Early feedback in just the few days since Amazon announced the chips has been positive, he said.

“I’ve seen Fortune 1000 big enterprises coming to us, saying, ‘Holy cow, this it interesting for some Internet of Things use cases,” he said. Don MacAskill, CEO of one of AWS’ early customers, SmugMug, had been asking him for Arm-based chips on the Amazon cloud for the past six years, Garman said.

Some of the many AWS tools for developers, like the Lambda “serverless” computing service, could potentially run on the Arm servers in the future, even if most of Amazon’s applications will keep using the popular x86 architecture that Intel’s chips use for a long time, Garman said.

In addition to announcing the Arm chips this week, AWS also said that it will start offering servers that customers can install in their own data centers, for applications that just can’t be run in the public cloud. From the AWS website, customers will be able to choose various types of EC2 computing instances that can be run, and from there, AWS will be able to deliver the right servers to meet companies’ needs.

The plan is to allow customers to request instances that use the Arm chips, Garman said. In other words, AWS could widen the distribution of Arm through the server product well beyond its own corporate boundaries.

“Any instance that we have is the goal, whether it’s Nvidia GPUs, whether it’s Arm, whether it’s Intel, as part of that service,” Garman said.

So far, AWS instances using the Arm processors aren’t performing as well as comparable instances that rely on Intel chips, according to tests that one person ran.

Still, the availability of Arm from the biggest cloud provider represents a win for Arm.

“AWS’ embrace gives Arm the shot of credibility to expand its footprint into more cloud players and workloads,” industry analyst Patrick Moorhead of Moor Insights & Strategy wrote in a message to CNBC on Friday.

In the years to come, AWS could release new instances based on more powerful Arm-based chips. The existing instances use Arm’s Cortex-A72 system, which was introduced in 2015.

And Arm is working on new processor technology that could enable greater performance, the company’s CEO, Simon Segars, told CNBC in an interview this week.

What’s more, other cloud providers could start to release instances using technology from Arm, which was acquired by Softbank in 2016 for $32 billion.

“Microsoft has shown in the past the use of Arm processors in their infrastructure,” Segars said. “They haven’t had that commercially available, but they’ve shown what it can do.”

With several big companies competing in the market for cloud infrastructure, competition is fierce, he said.

“If there’s a way to offer the processing capability at lower cost, then I would think everybody that plays in that space would want to take advantage of it,” Segars said.

WATCH: Company little changed after Softbank acquisition: Arm CEO


Company: cnbc, Activity: cnbc, Date: 2018-12-01  Authors: jordan novet, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, hold, cloud, centers, servers, amazon, using, bet, business, weaken, aws, onethird, data, chips, intels, instances, customers, arm, garman, processors


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Japan’s SoftBank reports profit surge on Vision Fund strength

Japan’s SoftBank Group Corp on Monday reported a surge in second-quarter profit, helped by higher valuations on high-tech bets just as doubts grow over the firm’s dependence on Saudi Arabia funds. SoftBank’s July-September operating profit rose to 705.7 billion yen ($6.23 billion) compared with 395.6 billion yen a year earlier. The year-earlier figure used previous accounting standards. SoftBank and its Saudi Arabia-backed Vision Fund — which after raising more than $93 billion last year is the


Japan’s SoftBank Group Corp on Monday reported a surge in second-quarter profit, helped by higher valuations on high-tech bets just as doubts grow over the firm’s dependence on Saudi Arabia funds. SoftBank’s July-September operating profit rose to 705.7 billion yen ($6.23 billion) compared with 395.6 billion yen a year earlier. The year-earlier figure used previous accounting standards. SoftBank and its Saudi Arabia-backed Vision Fund — which after raising more than $93 billion last year is the
Japan’s SoftBank reports profit surge on Vision Fund strength Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, higher, hightech, arabia, bets, reports, profit, japans, fund, strength, saudi, yen, valuations, billion, surge, vision


Japan's SoftBank reports profit surge on Vision Fund strength

Japan’s SoftBank Group Corp on Monday reported a surge in second-quarter profit, helped by higher valuations on high-tech bets just as doubts grow over the firm’s dependence on Saudi Arabia funds.

SoftBank’s July-September operating profit rose to 705.7 billion yen ($6.23 billion) compared with 395.6 billion yen a year earlier. The year-earlier figure used previous accounting standards.

SoftBank and its Saudi Arabia-backed Vision Fund — which after raising more than $93 billion last year is the world’s largest private equity fund — is recording higher valuations on high-tech bets such as on ride-hailing firm Uber Technologies Inc and General Motors Co’s Cruise self-driving vehicle unit.

For investors, however, SoftBank’s ties to Saudi Arabia have become a source of unease since the murder of Saudi journalist Jamal Khashoggi.


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, higher, hightech, arabia, bets, reports, profit, japans, fund, strength, saudi, yen, valuations, billion, surge, vision


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Japan inflation ticks up as oil rises but the central bank’s target remains elusive

Japan’s annual core consumer inflation ticked up in September but remained at half the pace of the central bank’s elusive 2 percent target, underscoring the challenge of meeting the price goal as escalating trade frictions cloud the economic outlook. Private spending needs to increase more for core consumer inflation to accelerate beyond 1 percent,” said Takeshi Minami, chief economist at Norinchukin Research Institute. BOJ Governor Haruhiko Kuroda on Thursday offered a slightly more upbeat view


Japan’s annual core consumer inflation ticked up in September but remained at half the pace of the central bank’s elusive 2 percent target, underscoring the challenge of meeting the price goal as escalating trade frictions cloud the economic outlook. Private spending needs to increase more for core consumer inflation to accelerate beyond 1 percent,” said Takeshi Minami, chief economist at Norinchukin Research Institute. BOJ Governor Haruhiko Kuroda on Thursday offered a slightly more upbeat view
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Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, banks, ticks, core, japan, central, elusive, trade, months, inflation, target, rises, boj, remains, price, costs, oil, slightly, prices, consumer


Japan inflation ticks up as oil rises but the central bank's target remains elusive

Japan’s annual core consumer inflation ticked up in September but remained at half the pace of the central bank’s elusive 2 percent target, underscoring the challenge of meeting the price goal as escalating trade frictions cloud the economic outlook.

While the rate of increase was the fastest in seven months, the gain was due mostly to higher oil costs with most other items rising only slightly, government data showed on Friday.

“We’re not seeing inflationary pressure build up. Private spending needs to increase more for core consumer inflation to accelerate beyond 1 percent,” said Takeshi Minami, chief economist at Norinchukin Research Institute.

“Inflation will probably stagnate around current levels for some time.”

The nationwide core consumer price index (CPI), which strips away the effect of volatile fresh food costs, rose 1.0 percent in September from a year earlier, matching a median market forecast and ticking up from 0.9 percent in August.

The so-called core-core CPI, a more closely watched gauge the Bank of Japan uses that excludes the effect of both fresh food and energy costs, stood at 0.4 percent in September, in line with the previous month.

The inflation data will be among factors the central bank examines at its rate review on Oct. 30-31, when it conducts a quarterly review of its growth and price projections.

BOJ Governor Haruhiko Kuroda on Thursday offered a slightly more upbeat view on prices than three months ago, saying that core consumer inflation was “moving around 1 percent.”

Rising energy costs may give the BOJ justification to slightly revise up its inflation forecasts, though the boost may be moderated by uncertainty over the fallout from escalating trade frictions, analysts say.

In a quarterly report scrutinizing Japan’s regional economies, the BOJ cut its assessment for two regions and warned that companies were becoming increasingly worried about the hit from the simmering Sino-U.S. trade frictions.

Under current projections made in July, the BOJ expects core consumer inflation to hit 1.1 percent in the year ending in March 2019, and accelerate to 1.5 percent the following year.

Stubbornly soft inflation has dashed the BOJ’s hopes that solid economic growth will translate into higher prices, and could delay the central bank’s exit from ultra-loose policy.

Japan’s economy rebounded in the second quarter from a contraction in the first three months of this year thanks to robust business spending.

But escalating trade frictions and a series of natural disasters that disrupted supply chains cloud the outlook for the export-reliant economy, with some analysts projecting a slight contraction in the July-September quarter.

Uncertainty over the economic outlook adds to challenges for the BOJ, which has struggled to fire up wages and prices despite years of heavy money printing.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, banks, ticks, core, japan, central, elusive, trade, months, inflation, target, rises, boj, remains, price, costs, oil, slightly, prices, consumer


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Japan exports fall for first time since 2016 as trade war fears mount

Japan’s exports fell in September for the first time since 2016 as shipments to the United States and China declined, adding to concerns about the broadening impact of an escalating Sino-U.S. trade war. Japan’s exports to the United States declined 0.2 percent in the year to September, dragged down by falling shipments of construction and mining machinery, auto parts and medicines. The U.S. Trade Representative’s office told Congress on Tuesday it would open trade talks with Japan, describing th


Japan’s exports fell in September for the first time since 2016 as shipments to the United States and China declined, adding to concerns about the broadening impact of an escalating Sino-U.S. trade war. Japan’s exports to the United States declined 0.2 percent in the year to September, dragged down by falling shipments of construction and mining machinery, auto parts and medicines. The U.S. Trade Representative’s office told Congress on Tuesday it would open trade talks with Japan, describing th
Japan exports fall for first time since 2016 as trade war fears mount Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, 2016, japans, war, fears, trade, yen, united, mount, surplus, billion, states, exports, showed, fall, japan


Japan exports fall for first time since 2016 as trade war fears mount

Japan’s exports fell in September for the first time since 2016 as shipments to the United States and China declined, adding to concerns about the broadening impact of an escalating Sino-U.S. trade war.

The data comes days after a Reuters poll showed a third of Japanese companies have been affected by the trade conflict between the world’s two biggest economies with firms fretting about slower Chinese demand.

Japanese policymakers also worry about the overall economic impact of the international trade tensions. A powerful typhoon that hit Japan last month has added to the strain on factories, disrupting output and physical distribution.

Ministry of Finance (MOF) data out on Thursday showed Japanese exports fell 1.2 percent in September from a year earlier, against a 1.9 percent increase expected by economists in a Reuters poll, following a 6.6 percent gain in August.

It was the first decline since November 2016.

“The continued weakness in exports in September suggests that economic activity may have stagnated in Q3,” Marcel Thieliant, senior Japan economist at Capital Economics, said in a note to clients.

Japan’s exports to the United States declined 0.2 percent in the year to September, dragged down by falling shipments of construction and mining machinery, auto parts and medicines.

U.S.-bound auto exports amounted to some 143,000 cars, down 7.0 percent in a snapback from the previous year’s brisk shipments.

Imports from the United States rose 3.1 percent in September, led by crude oil, liquefied petroleum gas, helping reduce Japan’s trade surplus with the United States by 4.0 percent year-on-year to 590 billion yen ($5.24 billion).

The U.S. Trade Representative’s office told Congress on Tuesday it would open trade talks with Japan, describing the country as an important yet underperforming market for U.S. exports.

Tokyo and Washington last month agreed to start trade talks in an arrangement that, for now, avoids the worst-case scenario of an imminent 25 percent tariff on cars.

Trump has made clear he is unhappy with Japan’s $69 billion trade surplus with the United States – nearly two-thirds of it from auto exports – and wants a two-way agreement to address it.

Tokyo pushed back on a straight bilateral Free Trade Agreement (FTA) that Washington had sought, fearing it could put Japan under pressure to open politically sensitive sectors such as agriculture.

Thursday’s trade data showed exports to China, Japan’s biggest trading partner, fell 1.7 percent in the year to September, the first decline in seven months, dragged down by semiconductor production equipment.

Shipments to Asia, which account for more than half of Japan’s overall exports, rose 0.9 percent.

Overall imports rose 7.0 percent in the year to September, versus the median estimate for a 13.7 percent annual increase.

The trade balance was surplus of 139.6 billion yen, compared with the median estimate for a shortfall of 50.0 billion yen.


Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, 2016, japans, war, fears, trade, yen, united, mount, surplus, billion, states, exports, showed, fall, japan


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IMF’s Christine Lagarde postpones trip to the Middle East

International Monetary Fund Managing Director Christine Lagarde has postponed her trip to the Middle East, according to an IMF statement on Wednesday. “The Managing Director’s previously scheduled trip to the Middle East region is being deferred,” an IMF spokesperson said. He was last seen on Oct. 2 when he entered the Saudi consulate in Istanbul. Turkish officials told media outlets that Khashoggi was killed and dismembered with a bone saw inside the consulate. He is due to fly to the Turkish c


International Monetary Fund Managing Director Christine Lagarde has postponed her trip to the Middle East, according to an IMF statement on Wednesday. “The Managing Director’s previously scheduled trip to the Middle East region is being deferred,” an IMF spokesperson said. He was last seen on Oct. 2 when he entered the Saudi consulate in Istanbul. Turkish officials told media outlets that Khashoggi was killed and dismembered with a bone saw inside the consulate. He is due to fly to the Turkish c
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Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: saheli roy choudhury, joanna tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, middle, riyadh, trip, lagarde, christine, imf, ceo, khashoggi, turkish, imfs, east, told, event, consulate, postpones, officials, saudi


IMF's Christine Lagarde postpones trip to the Middle East

International Monetary Fund Managing Director Christine Lagarde has postponed her trip to the Middle East, according to an IMF statement on Wednesday.

Lagarde’s visit to the region included attending the Future Investment Initiative, also known as “Davos in the Desert,” in Saudi Arabia. The conference is scheduled for Oct. 23 to 25.

“The Managing Director’s previously scheduled trip to the Middle East region is being deferred,” an IMF spokesperson said. The IMF did not give a reason for the postponement. CNBC has reached out to the IMF for clarification.

The investing event in Riyadh has seen mounting cancellations since the disappearance and suspected killing of Washington Post columnist Jamal Khashoggi. Turkish officials allege that he was murdered by a team of Saudi operatives, but Riyadh has fiercely denied the claim.

Media outlets including CNBC, Financial Times, CNN and The New York Times have also withdrawn from the event, citing concerns about Khashoggi’s disappearance.

Several prominent business leaders have also said they will not be attending the event, including J.P. Morgan Chase CEO Jamie Dimon, BlackRock CEO Larry Fink, Blackstone CEO Stephen Schwarzman and Mastercard CEO Ajay Banga.

Last week, Lagarde told reporters at the IMF and World Bank annual meetings in Bali, Indonesia, that while she was “horrified” at the disappearance and suspected killing of Khashoggi, she was still planning to attend the conference in Riyadh.

“I have to conduct the business of IMF in all corners of the world, and with many governments,” she said at that time. “When I visit a country, I always speak my mind. You know me, I do. At this point in time, my intention is to not change my plan and to be very attentive to the information that is coming out in the next few days, but I speak my mind.”

Khashoggi, who had been living in the United States as a voluntary exile from Saudi Arabia, was a prominent critic of Crown Prince Mohammed bin Salman and the Saudi royal family. He was last seen on Oct. 2 when he entered the Saudi consulate in Istanbul.

Turkish officials told media outlets that Khashoggi was killed and dismembered with a bone saw inside the consulate. The Saudi government has denied those allegations.

An official told the Associated Press on Tuesday that a police search of the consulate found evidence that Khashoggi was slain there.

U.S. Secretary of State Mike Pompeo met Saudi Arabia’s King Salman, Crown Prince Mohammed and Foreign Minister Adel al-Jubeir in Riyadh on Tuesday to discuss the matter. He is due to fly to the Turkish capital of Ankara on Wednesday to meet Turkish officials.


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: saheli roy choudhury, joanna tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, middle, riyadh, trip, lagarde, christine, imf, ceo, khashoggi, turkish, imfs, east, told, event, consulate, postpones, officials, saudi


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Softbank ‘anxiously’ monitoring Saudi Arabia situation, says executive

Softbank’s $93 billion Vision Fund has become one of the primary funding vehicles for technology companies around the world. Softbank is also raising a second $100 billion Vision Fund. “We don’t have a date” for the closing of the second Vision Fund, he said. The Vision Fund acquired a 25 percent stake in Arm from Softbank last year, among the fund’s largest deals to date for Softbank Chief Executive Masayoshi Son. The companies’ chip designs have begun working their way into data centers, where


Softbank’s $93 billion Vision Fund has become one of the primary funding vehicles for technology companies around the world. Softbank is also raising a second $100 billion Vision Fund. “We don’t have a date” for the closing of the second Vision Fund, he said. The Vision Fund acquired a 25 percent stake in Arm from Softbank last year, among the fund’s largest deals to date for Softbank Chief Executive Masayoshi Son. The companies’ chip designs have begun working their way into data centers, where
Softbank ‘anxiously’ monitoring Saudi Arabia situation, says executive Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, vision, billion, softbank, situation, technology, fund, second, companies, monitoring, executive, chip, anxiously, arabia, claure, saudi


Softbank 'anxiously' monitoring Saudi Arabia situation, says executive

Softbank Group Chief Operating Officer Marcelo Claure said on Tuesday it is “business at usual” at companies backed by its nearly $100 billion Vision Fund despite a tense situation with Saudi Arabia, which provided nearly half of the fund’s capital.

Claure spoke at a technology conference in San Jose, California for British chip design firm Arm Holdings, which was acquired by Softbank Group in 2016 for $32 billion. Claure said Softbank is “anxiously looking at what is happening” regarding the fate of journalist Jamal Khashoggi, who disappeared after entering the Saudi consulate in Istanbul last week.

“We, like most parties in the world, are watching events unfold,” Claure said. “We are just monitoring.”

Softbank’s $93 billion Vision Fund has become one of the primary funding vehicles for technology companies around the world. Saudi Arabia provided $45 billion for the fund, and unease over Softbank’s ties to the kingdom dragged down its shares earlier this week.

Softbank is also raising a second $100 billion Vision Fund. Earlier this month, Saudi Crown Prince Mohammed bin Salman told Bloomberg that the country’s Public Investment Fund would contribute $45 billion to the second Vision Fund.

Claure declined to comment to reporters on whether Softbank would accept the capital if it were offered.

“There’s no certainty,” he said. “We don’t have a date” for the closing of the second Vision Fund, he said.

The Vision Fund acquired a 25 percent stake in Arm from Softbank last year, among the fund’s largest deals to date for Softbank Chief Executive Masayoshi Son. The British chip design firm licenses its technology to chipmakers such as Qualcomm Inc and phone makers such as Apple to power mobile devices and other technologies. The companies’ chip designs have begun working their way into data centers, where they compete with Intel.

Arm Chief Executive Simon Segars said the company has been able to expand rapidly under Softbank’s ownership, hiring 2,000 people in the past two years for a total of 6,000 employees.

He said Arm was still profitable but less so than when it was a public company and was working with other Softbank Vision Fund Firms, for example by striking a deal with Softbank-backed Sprint around so-called internet of things technology.

“That saves Sprint from engineering something very similar to what we already had. That lets us both go faster,” Segars said.


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, vision, billion, softbank, situation, technology, fund, second, companies, monitoring, executive, chip, anxiously, arabia, claure, saudi


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‘I would not associate Jay Powell with craziness,’ says IMF’s Christine Lagarde

International Monetary Fund managing director Christine Lagarde said Thursday she “would not associate” U.S. Federal Reserve Chairman Jerome Powell “with craziness.” “I would not associate Jay Powell with craziness. Lagarde made the comment in response to a question from CNBC’s Geoff Cutmore about U.S. President Donald Trump. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally. Lagarde added: “All over the world, it is certainly a


International Monetary Fund managing director Christine Lagarde said Thursday she “would not associate” U.S. Federal Reserve Chairman Jerome Powell “with craziness.” “I would not associate Jay Powell with craziness. Lagarde made the comment in response to a question from CNBC’s Geoff Cutmore about U.S. President Donald Trump. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally. Lagarde added: “All over the world, it is certainly a
‘I would not associate Jay Powell with craziness,’ says IMF’s Christine Lagarde Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: weizhen tan, ted kemp, kazuhiro nogi, afp, getty images
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'I would not associate Jay Powell with craziness,' says IMF's Christine Lagarde

International Monetary Fund managing director Christine Lagarde said Thursday she “would not associate” U.S. Federal Reserve Chairman Jerome Powell “with craziness.”

“I would not associate Jay Powell with craziness. No, no, he comes across, and members of his board, as extremely serious, solid and certainly keen to base their decisions on actual information, and decide to communicate that properly,” she said, speaking to CNBC at the IMF and World Bank annual meetings in Bali, Indonesia.

Lagarde made the comment in response to a question from CNBC’s Geoff Cutmore about U.S. President Donald Trump. The American leader knocked the Fed on Wednesday for continuing to raise interest rates despite some recent market turbulence.

“I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally.

Lagarde added: “All over the world, it is certainly a good principle to have independence of the central banks and of the central bank governors. Certainly we have advocated that in all countries, and I think that the Fed is no exception.”


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: weizhen tan, ted kemp, kazuhiro nogi, afp, getty images
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Italy’s debt needs to come down, EU’s Moscovici says

However, Brussels also needs to ensure the euro zone economy remains stable, the European Commissioner for economic affairs told CNBC on Thursday. There are strong concerns that the intentions from the new government in Rome to raise spending, and subsequently the debt pile, could brought up another debt crisis in the euro zone. Italy and the European Commission have been embroiled in an ongoing battle of words over Rome’s 2019 budget. The 2019 budget is set to point to an increase in structural


However, Brussels also needs to ensure the euro zone economy remains stable, the European Commissioner for economic affairs told CNBC on Thursday. There are strong concerns that the intentions from the new government in Rome to raise spending, and subsequently the debt pile, could brought up another debt crisis in the euro zone. Italy and the European Commission have been embroiled in an ongoing battle of words over Rome’s 2019 budget. The 2019 budget is set to point to an increase in structural
Italy’s debt needs to come down, EU’s Moscovici says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: silvia amaro, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, spending, italys, euro, italian, told, budget, needs, debt, moscovici, zone, european, come, 2019, eus


Italy's debt needs to come down, EU's Moscovici says

The European Union wants to avoid a “crisis” with Italy over the country’s spending plans. However, Brussels also needs to ensure the euro zone economy remains stable, the European Commissioner for economic affairs told CNBC on Thursday.

“We want to avoid a crisis with Rome… but at the same time we need, absolutely, to make sure that the Italian debt decreases and the stability of the euro zone is ensured,” Pierre Moscovici, European Commissioner, told CNBC’s Nancy Hungerford in Bali.

Italy’s public debt represents 130 percent of gross domestic product and totals 2.3 trillion euros ($2.6 trillion). There are strong concerns that the intentions from the new government in Rome to raise spending, and subsequently the debt pile, could brought up another debt crisis in the euro zone.

“This is why I would say this is a delicate matter,” Moscovici added.

Italy and the European Commission have been embroiled in an ongoing battle of words over Rome’s 2019 budget. The anti-establishment Italian government has said that it will change previous reforms and raise public spending, bringing the country’s deficit to 2.4 percent of GDP in 2019 —a number that Brussels has already criticized for being three times higher than what Italy had agreed to earlier this year.

“We will have to receive next week the Italian budget. I cannot jump into conclusions,” Moscovici said.

“What I can see from what I know already is that there is a risk of what we call a ‘significant deviation’ according to our rules, which are common to all euro zone members.”

The 2019 budget is set to point to an increase in structural deficit, which excludes growth, by 0.8 percentage points. Rome had told Brussels that the structural deficit in 2019 would be lowered by 0.6 percentage points.

“I urge the Italian authorities to be closer to the medium-term objectives,” Moscovici said.

Last week, Italian Deputy Prime Minister Matteo Salvini called Moscovici and the President of the European Commission, Jean-Claude Juncker, the “enemies of Europe”.

“I am not going to respond to that kind of provocation,” Moscovici said.

Italy is due to submit its 2019 budget plan to the EU by next Monday. The European Commissioner has until the end of November to present its opinion on the financial plan.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: silvia amaro, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, spending, italys, euro, italian, told, budget, needs, debt, moscovici, zone, european, come, 2019, eus


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From space stations to factories: Five interesting ways that solar power is being harnessed

Solar power is becoming an increasingly important part of the planet’s energy mix. In 2016, for example, new solar photovoltaic (PV) capacity increased by 50 percent globally, according to the International Energy Agency (IEA). The IEA also noted that, for the first time, solar PV additions grew faster than any other fuel. Here, Sustainable Energy looks at five interesting ways solar power is being used around the world.


Solar power is becoming an increasingly important part of the planet’s energy mix. In 2016, for example, new solar photovoltaic (PV) capacity increased by 50 percent globally, according to the International Energy Agency (IEA). The IEA also noted that, for the first time, solar PV additions grew faster than any other fuel. Here, Sustainable Energy looks at five interesting ways solar power is being used around the world.
From space stations to factories: Five interesting ways that solar power is being harnessed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-13  Authors: anmar frangoul, getty images, image courtesy of innogy renewables, kazuhiro nogi, afp, carlsberg group
Keywords: news, cnbc, companies, ways, planets, used, power, factories, space, world, interesting, sustainable, pv, energy, iea, harnessed, solar, stations


From space stations to factories: Five interesting ways that solar power is being harnessed

Solar power is becoming an increasingly important part of the planet’s energy mix.

In 2016, for example, new solar photovoltaic (PV) capacity increased by 50 percent globally, according to the International Energy Agency (IEA). The IEA also noted that, for the first time, solar PV additions grew faster than any other fuel.

Here, Sustainable Energy looks at five interesting ways solar power is being used around the world.


Company: cnbc, Activity: cnbc, Date: 2018-09-13  Authors: anmar frangoul, getty images, image courtesy of innogy renewables, kazuhiro nogi, afp, carlsberg group
Keywords: news, cnbc, companies, ways, planets, used, power, factories, space, world, interesting, sustainable, pv, energy, iea, harnessed, solar, stations


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