SoftBank is leading a $1 billion investment in logistics start-up Flexport

SoftBank’s Vision Fund just made one of its biggest start-ups investments yet, leading a $1 billion round in a company that’s moving freight across the globe. The funding comes a day after SoftBank’s Vision Fund led a $200 million investment in physical storage start-up Clutter. In the case of Flexport, the company moves freight by air, ocean, rail and truck, handling the packages as well as all the customs information required. “Our business is super scale-driven, and that’s SoftBank’s entire m


SoftBank’s Vision Fund just made one of its biggest start-ups investments yet, leading a $1 billion round in a company that’s moving freight across the globe. The funding comes a day after SoftBank’s Vision Fund led a $200 million investment in physical storage start-up Clutter. In the case of Flexport, the company moves freight by air, ocean, rail and truck, handling the packages as well as all the customs information required. “Our business is super scale-driven, and that’s SoftBank’s entire m
SoftBank is leading a $1 billion investment in logistics start-up Flexport Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: deirdre bosa, bloomberg, contributor, getty images
Keywords: news, cnbc, companies, technology, billion, leading, company, amazon, freight, flexport, softbank, softbanks, vision, thats, logistics, startup, investment, fund


SoftBank is leading a $1 billion investment in logistics start-up Flexport

SoftBank’s Vision Fund just made one of its biggest start-ups investments yet, leading a $1 billion round in a company that’s moving freight across the globe.

Flexport, which describes itself as a “modern freight forwarder,” announced the financing on Thursday and said it expects the deal to close in the second quarter after regulatory approval.

The funding comes a day after SoftBank’s Vision Fund led a $200 million investment in physical storage start-up Clutter. The $100 billion Vision Fund continues to write massive checks to fast-growing companies that are applying technology to old industries, whether it’s Uber in ride-hailing, DoorDash in food delivery or WeWork in real estate.

In the case of Flexport, the company moves freight by air, ocean, rail and truck, handling the packages as well as all the customs information required. Flexport’s technology provides data that helps customers analyze costs, container utilization and emissions, and keep track of their supply chain. It includes support for smaller LCL (less than full container) shipments that bigger players often treat as low priority.

“Our business is super scale-driven, and that’s SoftBank’s entire modus operandi,” Flexport CEO Ryan Petersen said in an interview. SoftBank is out “to drive and inject scale into companies, and help them go faster,” he said.

Petersen said the terms were “clean” and “founder friendly,” with SoftBank getting one board seat — for managing partner Michael Ronen — and no additional preferences on its shares. The company didn’t disclose a valuation, though Axios previously reported that it could be around $3 billion.

Ronen told CNBC that Flexport is unique in “going after what is essentially a pretty boring space and doing it in an incredibly innovative way.”

Flexport said in the press release that it doubled revenue last year to almost $500 million and now has close to 1,000 employees in 11 offices around the world.

The fresh capital should help Flexport continue to grow and lure customers as Amazon invests more heavily in providing global logistics services to marketplace sellers.

“We’re in early days,” Ronen said. “Amazon is amazing at what it does, but there is a whole universe of merchants and global trade that is operating outside Amazon and doesn’t have their scale.” He said that SoftBank’s investment in Flexport, “is not so much about going against Amazon, but supporting everyone else that needs a better solution and needs some scale.”

The financing round had participation from existing investors, including Peter Thiel’s Founders Fund and Yuri Milner’s DST Global.

WATCH: Clutter CEO says the Vision Fund was an ‘ideal match’


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: deirdre bosa, bloomberg, contributor, getty images
Keywords: news, cnbc, companies, technology, billion, leading, company, amazon, freight, flexport, softbank, softbanks, vision, thats, logistics, startup, investment, fund


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SoftBank is leading a $1 billion investment in logistics start-up Flexport

SoftBank’s Vision Fund just made one of its biggest start-ups investments yet, leading a $1 billion round in a company that’s moving freight across the globe. The funding comes a day after SoftBank’s Vision Fund led a $200 million investment in physical storage start-up Clutter. In the case of Flexport, the company moves freight by air, ocean, rail and truck, handling the packages as well as all the customs information required. “Our business is super scale-driven, and that’s SoftBank’s entire m


SoftBank’s Vision Fund just made one of its biggest start-ups investments yet, leading a $1 billion round in a company that’s moving freight across the globe. The funding comes a day after SoftBank’s Vision Fund led a $200 million investment in physical storage start-up Clutter. In the case of Flexport, the company moves freight by air, ocean, rail and truck, handling the packages as well as all the customs information required. “Our business is super scale-driven, and that’s SoftBank’s entire m
SoftBank is leading a $1 billion investment in logistics start-up Flexport Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: deirdre bosa, bloomberg, contributor, getty images
Keywords: news, cnbc, companies, technology, billion, leading, company, amazon, freight, flexport, softbank, softbanks, vision, thats, logistics, startup, investment, fund


SoftBank is leading a $1 billion investment in logistics start-up Flexport

SoftBank’s Vision Fund just made one of its biggest start-ups investments yet, leading a $1 billion round in a company that’s moving freight across the globe.

Flexport, which describes itself as a “modern freight forwarder,” announced the financing on Thursday and said it expects the deal to close in the second quarter after regulatory approval.

The funding comes a day after SoftBank’s Vision Fund led a $200 million investment in physical storage start-up Clutter. The $100 billion Vision Fund continues to write massive checks to fast-growing companies that are applying technology to old industries, whether it’s Uber in ride-hailing, DoorDash in food delivery or WeWork in real estate.

In the case of Flexport, the company moves freight by air, ocean, rail and truck, handling the packages as well as all the customs information required. Flexport’s technology provides data that helps customers analyze costs, container utilization and emissions, and keep track of their supply chain. It includes support for smaller LCL (less than full container) shipments that bigger players often treat as low priority.

“Our business is super scale-driven, and that’s SoftBank’s entire modus operandi,” Flexport CEO Ryan Petersen said in an interview. SoftBank is out “to drive and inject scale into companies, and help them go faster,” he said.

Petersen said the terms were “clean” and “founder friendly,” with SoftBank getting one board seat — for managing partner Michael Ronen — and no additional preferences on its shares. The company didn’t disclose a valuation, though Axios previously reported that it could be around $3 billion.

Ronen told CNBC that Flexport is unique in “going after what is essentially a pretty boring space and doing it in an incredibly innovative way.”

Flexport said in the press release that it doubled revenue last year to almost $500 million and now has close to 1,000 employees in 11 offices around the world.

The fresh capital should help Flexport continue to grow and lure customers as Amazon invests more heavily in providing global logistics services to marketplace sellers.

“We’re in early days,” Ronen said. “Amazon is amazing at what it does, but there is a whole universe of merchants and global trade that is operating outside Amazon and doesn’t have their scale.” He said that SoftBank’s investment in Flexport, “is not so much about going against Amazon, but supporting everyone else that needs a better solution and needs some scale.”

The financing round had participation from existing investors, including Peter Thiel’s Founders Fund and Yuri Milner’s DST Global.

WATCH: Clutter CEO says the Vision Fund was an ‘ideal match’


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: deirdre bosa, bloomberg, contributor, getty images
Keywords: news, cnbc, companies, technology, billion, leading, company, amazon, freight, flexport, softbank, softbanks, vision, thats, logistics, startup, investment, fund


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SoftBank leads $200 million investment in Clutter

The Vision Fund’s latest big bet is in another corner of the real estate market: storage. SoftBank said Wednesday it led a $200 million funding round in Clutter, which provides storage services, including the picking up and dropping off of a customer’s items. The cash infusion values Clutter, post-investment, at $600 million. He told CNBC the company thinks of real estate as a service and called Clutter a “novel model” that’s taking on the $38 billion U.S. storage market, which is mostly “just b


The Vision Fund’s latest big bet is in another corner of the real estate market: storage. SoftBank said Wednesday it led a $200 million funding round in Clutter, which provides storage services, including the picking up and dropping off of a customer’s items. The cash infusion values Clutter, post-investment, at $600 million. He told CNBC the company thinks of real estate as a service and called Clutter a “novel model” that’s taking on the $38 billion U.S. storage market, which is mostly “just b
SoftBank leads $200 million investment in Clutter Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: deirdre bosa, tomohiro ohsumi, getty images, source, magdalena petrova cnbc
Keywords: news, cnbc, companies, real, storage, space, estate, market, softbank, million, vision, investment, wilson, 200, leads, clutter, items, technology


SoftBank leads $200 million investment in Clutter

SoftBank’s Vision Fund has poured billions of dollars into real estate technology, from its massive stake in co-working space provider WeWork to the hundreds of millions of dollars in online platforms Opendoor and Compass.

The Vision Fund’s latest big bet is in another corner of the real estate market: storage.

SoftBank said Wednesday it led a $200 million funding round in Clutter, which provides storage services, including the picking up and dropping off of a customer’s items. The cash infusion values Clutter, post-investment, at $600 million.

Justin Wilson, a Vision Fund director, is joining Clutter’s board. He told CNBC the company thinks of real estate as a service and called Clutter a “novel model” that’s taking on the $38 billion U.S. storage market, which is mostly “just boxes.” Clutter lets users book space on the web, arrange for inventory to be picked up and have items returned when they’re needed, while also providing pictures of the stored items.

Traditional players like Public Storage and Extra Space just provide consumers with simple storage units for a monthly fee. Those two companies are worth almost $49 billion combined.

“There’s a warehouse and lock and you show up and take it out,” Wilson said. “You have to struggle to find a dolly, beg friends and family. The consumer experience is pretty poor.”

Early news of the funding was reported by TechCrunch.

Ari Mir, Clutter’s co-founder and CEO, said the fresh capital will allow the company to grow in existing markets like Los Angeles, New York and San Francisco, expand to new cities like Philadelphia and deepen its investment in infrastructure and technology.


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: deirdre bosa, tomohiro ohsumi, getty images, source, magdalena petrova cnbc
Keywords: news, cnbc, companies, real, storage, space, estate, market, softbank, million, vision, investment, wilson, 200, leads, clutter, items, technology


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Silicon Valley hedge funder Glen Katcher sees an ‘incredible opportunity’ in SoftBank

Some of the best investments that Silicon Valley has been chasing after can be found on just one stock: Softbank, hedge funder Glen Kacher told CNBC on Wednesday. The founder and chief investment officer of Light Street Capital, based in Palo Alto, California, called the Japanese conglomerate an “incredible opportunity.” And the investors in Silicon Valley are running around with rifles and pistols investing in these companies.” He said he doesn’t expect SoftBank to disrupt the venture capital c


Some of the best investments that Silicon Valley has been chasing after can be found on just one stock: Softbank, hedge funder Glen Kacher told CNBC on Wednesday. The founder and chief investment officer of Light Street Capital, based in Palo Alto, California, called the Japanese conglomerate an “incredible opportunity.” And the investors in Silicon Valley are running around with rifles and pistols investing in these companies.” He said he doesn’t expect SoftBank to disrupt the venture capital c
Silicon Valley hedge funder Glen Katcher sees an ‘incredible opportunity’ in SoftBank Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: michelle fox, heidi gutman
Keywords: news, cnbc, companies, investors, sees, katcher, funder, hedge, investor, valley, opportunity, silicon, softbank, incredible, kacher, glen, stake, stock


Silicon Valley hedge funder Glen Katcher sees an 'incredible opportunity' in SoftBank

Some of the best investments that Silicon Valley has been chasing after can be found on just one stock: Softbank, hedge funder Glen Kacher told CNBC on Wednesday.

The founder and chief investment officer of Light Street Capital, based in Palo Alto, California, called the Japanese conglomerate an “incredible opportunity.” SoftBank is the firm’s largest equity holding.

“Their stake in Alibaba is their entire market cap. They also own incredible assets,” including a big stake in Yahoo Japan and Sprint, which is awaiting approval of its merger with T-Mobile, Kacher said in an interview with Leslie Picker on “Fast Money: Halftime Report.”

“They’ve got the Vision Fund, which is an incredible business operation where they’re shooting guided missiles [of cash] at the best companies…, right? They want to be investors in these companies. And the investors in Silicon Valley are running around with rifles and pistols investing in these companies.”

Kacher founded the hedge fund, which largely focuses on tech, in 2010. It has $1.4 billion in assets under management. Its second-largest stock holding is Amazon.

He said he doesn’t expect SoftBank to disrupt the venture capital community but instead succeed side by side with it. “It’s an incredible opportunity for the individual investor as well as the institutional investor like us to get real exposure to this incredible growth part of the industry where Softbank is investing.”

— CNBC’s Laura Batchelor contributed to this report.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: michelle fox, heidi gutman
Keywords: news, cnbc, companies, investors, sees, katcher, funder, hedge, investor, valley, opportunity, silicon, softbank, incredible, kacher, glen, stake, stock


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Silicon Valley hedge funder Glen Katcher sees an ‘incredible opportunity’ in SoftBank

Some of the best investments that Silicon Valley has been chasing after can be found on just one stock: Softbank, hedge funder Glen Kacher told CNBC on Wednesday. The founder and chief investment officer of Light Street Capital, based in Palo Alto, California, called the Japanese conglomerate an “incredible opportunity.” And the investors in Silicon Valley are running around with rifles and pistols investing in these companies.” He said he doesn’t expect SoftBank to disrupt the venture capital c


Some of the best investments that Silicon Valley has been chasing after can be found on just one stock: Softbank, hedge funder Glen Kacher told CNBC on Wednesday. The founder and chief investment officer of Light Street Capital, based in Palo Alto, California, called the Japanese conglomerate an “incredible opportunity.” And the investors in Silicon Valley are running around with rifles and pistols investing in these companies.” He said he doesn’t expect SoftBank to disrupt the venture capital c
Silicon Valley hedge funder Glen Katcher sees an ‘incredible opportunity’ in SoftBank Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: michelle fox, heidi gutman
Keywords: news, cnbc, companies, investors, sees, katcher, funder, hedge, investor, valley, opportunity, silicon, softbank, incredible, kacher, glen, stake, stock


Silicon Valley hedge funder Glen Katcher sees an 'incredible opportunity' in SoftBank

Some of the best investments that Silicon Valley has been chasing after can be found on just one stock: Softbank, hedge funder Glen Kacher told CNBC on Wednesday.

The founder and chief investment officer of Light Street Capital, based in Palo Alto, California, called the Japanese conglomerate an “incredible opportunity.” SoftBank is the firm’s largest equity holding.

“Their stake in Alibaba is their entire market cap. They also own incredible assets,” including a big stake in Yahoo Japan and Sprint, which is awaiting approval of its merger with T-Mobile, Kacher said in an interview with Leslie Picker on “Fast Money: Halftime Report.”

“They’ve got the Vision Fund, which is an incredible business operation where they’re shooting guided missiles [of cash] at the best companies…, right? They want to be investors in these companies. And the investors in Silicon Valley are running around with rifles and pistols investing in these companies.”

Kacher founded the hedge fund, which largely focuses on tech, in 2010. It has $1.4 billion in assets under management. Its second-largest stock holding is Amazon.

He said he doesn’t expect SoftBank to disrupt the venture capital community but instead succeed side by side with it. “It’s an incredible opportunity for the individual investor as well as the institutional investor like us to get real exposure to this incredible growth part of the industry where Softbank is investing.”

— CNBC’s Laura Batchelor contributed to this report.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: michelle fox, heidi gutman
Keywords: news, cnbc, companies, investors, sees, katcher, funder, hedge, investor, valley, opportunity, silicon, softbank, incredible, kacher, glen, stake, stock


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SoftBank leads $440 million investment in UK fintech OakNorth, valuing it at $2.8 billion

British digital bank OakNorth said Friday it secured $440 million in an investment round led by Japan’s SoftBank. The firm, which lends to small-to-medium enterprises through its digital platform, said it had raised $390 million from SoftBank’s $100 billion Vision Fund, with the remaining capital coming from Clermont. The deal gives the three-year-old firm an eye-watering $2.8 billion post-money valuation, making it Europe’s most valuable private fintech group. OakNorth’s announcements confirmed


British digital bank OakNorth said Friday it secured $440 million in an investment round led by Japan’s SoftBank. The firm, which lends to small-to-medium enterprises through its digital platform, said it had raised $390 million from SoftBank’s $100 billion Vision Fund, with the remaining capital coming from Clermont. The deal gives the three-year-old firm an eye-watering $2.8 billion post-money valuation, making it Europe’s most valuable private fintech group. OakNorth’s announcements confirmed
SoftBank leads $440 million investment in UK fintech OakNorth, valuing it at $2.8 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: ryan browne, alex rumford
Keywords: news, cnbc, companies, leads, growth, softbank, digital, billion, capital, oaknorth, uk, valuing, softbanks, fintech, 440, investment, million, firm


SoftBank leads $440 million investment in UK fintech OakNorth, valuing it at $2.8 billion

British digital bank OakNorth said Friday it secured $440 million in an investment round led by Japan’s SoftBank.

The firm, which lends to small-to-medium enterprises through its digital platform, said it had raised $390 million from SoftBank’s $100 billion Vision Fund, with the remaining capital coming from Clermont.

The deal gives the three-year-old firm an eye-watering $2.8 billion post-money valuation, making it Europe’s most valuable private fintech group.

OakNorth’s announcements confirmed reports overnight that said the company had received a new cash injection from the Japanese tech giant.

Speculation over the funding began late last year after a Times of London report said that SoftBank was in talks with OakNorth and fellow British fintech firm Revolut about investing in both businesses via its technology investment fund.

“We decided that, with (SoftBank’s) capital, and with their network, that we would be able to significantly expand to growth plans we have for the business,” Rishi Khosla, co-founder and chief executive of OakNorth, told CNBC over the phone.

“Aligned with our mission to support the financing needs of growth SMEs across the globe, we thought SoftBank… would be a really good investor to have alongside our existing strong investors.”


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: ryan browne, alex rumford
Keywords: news, cnbc, companies, leads, growth, softbank, digital, billion, capital, oaknorth, uk, valuing, softbanks, fintech, 440, investment, million, firm


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SoftBank’s Masayoshi Son may have become billions richer in one day

SoftBank Group Founder and Chief Executive Masayoshi Son, already one of Asia’s richest men, may have just added billions into his pocket from Thursday’s trading session. SoftBank’s stock ended Thursday’s session in Japan at 9,962.0 yen per share, a 17.73 percent gain over its last close at 8462.0. Son owned 231,205,000 shares in the Japanese conglomerate as of Sept. 30, 2018, according to the company’s website. If that number is still accurate, then that would mean Thursday’s stock move made So


SoftBank Group Founder and Chief Executive Masayoshi Son, already one of Asia’s richest men, may have just added billions into his pocket from Thursday’s trading session. SoftBank’s stock ended Thursday’s session in Japan at 9,962.0 yen per share, a 17.73 percent gain over its last close at 8462.0. Son owned 231,205,000 shares in the Japanese conglomerate as of Sept. 30, 2018, according to the company’s website. If that number is still accurate, then that would mean Thursday’s stock move made So
SoftBank’s Masayoshi Son may have become billions richer in one day Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: eustance huang, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, day, billions, billion, son, share, softbanks, yen, shares, thursdays, trading, stock, richer, website, masayoshi, softbank


SoftBank's Masayoshi Son may have become billions richer in one day

SoftBank Group Founder and Chief Executive Masayoshi Son, already one of Asia’s richest men, may have just added billions into his pocket from Thursday’s trading session.

SoftBank’s stock ended Thursday’s session in Japan at 9,962.0 yen per share, a 17.73 percent gain over its last close at 8462.0.

Son owned 231,205,000 shares in the Japanese conglomerate as of Sept. 30, 2018, according to the company’s website. If that number is still accurate, then that would mean Thursday’s stock move made Son about 346.81 billion yen ($3.15 billion) richer.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: eustance huang, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, day, billions, billion, son, share, softbanks, yen, shares, thursdays, trading, stock, richer, website, masayoshi, softbank


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SoftBank shares surge after Masayoshi Son announces stock buyback

“There’s a part of me that thinks maybe (Son’s) trying to make up for the … mispricing in SoftBank Corp,” he added, saying the pricing of the domestic telecommunications unit’s IPO was “way too high.” The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a third of the shares in SoftBank Corp, which on Tuesday reported a 24 percent jump in quarterly operating profit. Beyond the announced share buyback, Dan Baker, an analyst at Morningstar, pointed to othe


“There’s a part of me that thinks maybe (Son’s) trying to make up for the … mispricing in SoftBank Corp,” he added, saying the pricing of the domestic telecommunications unit’s IPO was “way too high.” The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a third of the shares in SoftBank Corp, which on Tuesday reported a 24 percent jump in quarterly operating profit. Beyond the announced share buyback, Dan Baker, an analyst at Morningstar, pointed to othe
SoftBank shares surge after Masayoshi Son announces stock buyback Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: eustance huang, kiyoshi ota, bloomberg, getty images
Keywords: news, cnbc, companies, nvidia, son, announced, buyback, yen, announces, shares, thursdays, surge, stock, baker, worth, corp, masayoshi, softbank


SoftBank shares surge after Masayoshi Son announces stock buyback

“There’s a part of me that thinks maybe (Son’s) trying to make up for the … mispricing in SoftBank Corp,” he added, saying the pricing of the domestic telecommunications unit’s IPO was “way too high.”

The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a third of the shares in SoftBank Corp, which on Tuesday reported a 24 percent jump in quarterly operating profit.

Beyond the announced share buyback, Dan Baker, an analyst at Morningstar, pointed to other possible reasons for Thursday’s strong gains.

One of those was that SoftBank earnings were presented in a different manner to highlight “sum-of-the-parts valuations rather than discussing results of individual businesses,” Baker told CNBC in an email.

Baker also cited the additional details surrounding the performance of SoftBank’s Vision Fund and the use of hedging to lock in the company’s gains in chipmaker Nvidia as potential catalysts for Thursday’s stock move upward.

SoftBank announced on Wednesday that it had dumped its entire stake, worth more than $3 billion, in Nvidia in January.

— Reuters contributed to this report.

Clarification: This article has been updated to clarify that SoftBank shares surged on the Thursday trading day in Japan.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: eustance huang, kiyoshi ota, bloomberg, getty images
Keywords: news, cnbc, companies, nvidia, son, announced, buyback, yen, announces, shares, thursdays, surge, stock, baker, worth, corp, masayoshi, softbank


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Stocks in Asia mixed; Softbank shares soar more than 17 percent

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.421 after seeing lows around 96.0 yesterday. The Japanese yen traded at 109.96 against the dollar after seeing highs around 109.54 in the previous session. The Australian dollar was at $0.7103 after slipping sharply from highs below $0.725 yesterday. The decline came on the back of Reserve Bank of Australia (RBA) Governor Philip Lowe’s speech on Wednesday. “Looking forward, there are scenarios where the ne


The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.421 after seeing lows around 96.0 yesterday. The Japanese yen traded at 109.96 against the dollar after seeing highs around 109.54 in the previous session. The Australian dollar was at $0.7103 after slipping sharply from highs below $0.725 yesterday. The decline came on the back of Reserve Bank of Australia (RBA) Governor Philip Lowe’s speech on Wednesday. “Looking forward, there are scenarios where the ne
Stocks in Asia mixed; Softbank shares soar more than 17 percent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: eustance huang
Keywords: news, cnbc, companies, reserve, softbank, bank, rba, shares, soar, seeing, dollar, rate, scenarios, stance, asia, highs, stocks, evenly, 17, mixed


Stocks in Asia mixed; Softbank shares soar more than 17 percent

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.421 after seeing lows around 96.0 yesterday.

The Japanese yen traded at 109.96 against the dollar after seeing highs around 109.54 in the previous session.

The Australian dollar was at $0.7103 after slipping sharply from highs below $0.725 yesterday. The decline came on the back of Reserve Bank of Australia (RBA) Governor Philip Lowe’s speech on Wednesday.

“Looking forward, there are scenarios where the next move in the cash rate is up and other scenarios where it is down. Over the past year, the next-move-is-up scenarios were more likely than the next-move-is-down scenarios. Today, the probabilities appear to be more evenly balanced,” Lowe said.

“The Australian dollar is set to depreciate below 0.70 as the Reserve Bank of Australia no longer views the next move in rates as up only,” strategists at DBS Group Research said in a morning note.

“In adopting a “more evenly balanced” stance, the RBA has opened the door for a rate cut if increased global risks and the weaker housing market forces more downgrades in its sanguine growth/inflation outlook. Effectively, this has offset the Fed’s patience stance that lifted the Oz in January. Our mid-year target for AUD/USD remains unchanged at 0.66,” they said.

— CNBC’s Fred Imbert and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: eustance huang
Keywords: news, cnbc, companies, reserve, softbank, bank, rba, shares, soar, seeing, dollar, rate, scenarios, stance, asia, highs, stocks, evenly, 17, mixed


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SoftBank Group unveils $5.5 billion stock buyback, Q3 profit soars 60 percent

Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent rise in quarterly operating profit buoyed by rising valuations for its technology investments. SoftBank Group said it would repurchase 112 million shares worth 600 billion yen ($5.5 billion) in the next 11 months, or about 10.3 percent of its total outstanding shares, excluding treasury stock. The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a th


Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent rise in quarterly operating profit buoyed by rising valuations for its technology investments. SoftBank Group said it would repurchase 112 million shares worth 600 billion yen ($5.5 billion) in the next 11 months, or about 10.3 percent of its total outstanding shares, excluding treasury stock. The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a th
SoftBank Group unveils $5.5 billion stock buyback, Q3 profit soars 60 percent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, stock, unveils, buyback, quarterly, reported, yen, profit, softbank, 60, valuations, soars, group, operating, q3, shares, billion, technology


SoftBank Group unveils $5.5 billion stock buyback, Q3 profit soars 60 percent

Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent rise in quarterly operating profit buoyed by rising valuations for its technology investments.

SoftBank Group said it would repurchase 112 million shares worth 600 billion yen ($5.5 billion) in the next 11 months, or about 10.3 percent of its total outstanding shares, excluding treasury stock.

The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a third of the shares in domestic telco SoftBank Corp, which on Tuesday reported a 24 percent jump in quarterly operating profit.

SoftBank Group said its operating profit in the October-December quarter was 438.3 billion yen ($3.99 billion) versus 274 billion yen a year earlier. The year-earlier figure used previous accounting standards.

Profits at SoftBank Group are increasingly affected by the valuations of big technology bets through its own investing activities and its Saudi-backed Vision Fund, which launched last year with over $90 billion in capital.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, stock, unveils, buyback, quarterly, reported, yen, profit, softbank, 60, valuations, soars, group, operating, q3, shares, billion, technology


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