TOKYO— SoftBank Group Corp. 9984 -8.03% on Tuesday reported an enormous $ 26.2 billion loss on its big portfolio of technology companies in the first three months of the year, as the company took a record annual loss for the second time in three years. “The world is in a chaotic situation,” said Chief Executive … Read more
TOKYO— SoftBank Group Corp. 9984 -8.03% on Tuesday reported an enormous $ 26.2 billion loss on its big portfolio of technology companies in the first three months of the year, as the company took a record annual loss for the second time in three years. “The world is in a chaotic situation,” said Chief Executive … Read more
WASHINGTON — Federal regulators are investigating Elon Musk’s late disclosure last month of his sizable stake on Twitter Inc., TWTR -2.48% according to people familiar with the matter, a lag that allowed him to buy more stock without alerting other shareholders to his ownership. The Securities and Exchange Commission is probing Mr. Musk’s tardy submission … Read more
WASHINGTON — Federal regulators are investigating Elon Musk’s late disclosure last month of his sizable stake on Twitter Inc., TWTR -2.48% according to people familiar with the matter, a lag that allowed him to buy more stock without alerting other shareholders to his ownership. The Securities and Exchange Commission is probing Mr. Musk’s tardy submission … Read more
The biggest cryptocurrency exchange in the US said it was bleeding users, reflecting continued destruction in the crypto market and investors’ unease about risky assets. Coinbase Global Inc. COIN -12.60% said Tuesday that it lost hundreds of millions of dollars in the first quarter, sending the stock tumbling in after-hours trading. Following the after-market report, … Read more
Jared Kushner’s new private-equity fund plans to invest millions of dollars of Saudi Arabia’s money in Israeli startups, according to people familiar with the investment plan, in a sign of warming ties between two historic rivals. Affinity Partners, which has raised more than $ 3 billion, including a $ 2 billion commitment from the kingdom’s … Read more
EU officials have proposed a ban on insuring ships that carry Russian oil, a move aimed at blocking Russia’s access to global oil markets and the revenue that has fueled its military invasion of Ukraine. “In effect, it would be a very strong hindrance to export Russian crude,” said Lars Barstad, chief executive of Frontline. … Read more
Jared Kushner’s new private-equity fund plans to invest millions of dollars of Saudi Arabia’s money in Israeli startups, according to people familiar with the investment plan, in a sign of warming ties between two historic rivals. Affinity Partners, which has raised more than $ 3 billion, including a $ 2 billion commitment from the kingdom’s … Read more
WASHINGTON — Top US banking regulators are poised to overhaul how banks lend hundreds of billions of dollars annually in lower-income communities, after scrapping a Trump-era revamp that had divided regulators and industry officials. The latest proposal to modernize rules for the 1977 Community Reinvestment Act is set to be announced Thursday and aims to … Read more
US stocks fell, with technology stocks leading the way, as investors assessed the implications of the Federal Reserve’s most aggressive tightening of monetary policy in more than two decades. The S&P 500 dropped 2.1% in early trading on Thursday. The tech-focused Nasdaq Composite Index lost 3.2%, and the Dow Jones Industrial Average retreated 1.6%, or … Read more