SoftBank Vision Fund records $18 billion operating loss, portfolio slides underwater

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TOKYO (Reuters) – Japan’s SoftBank Group Corp on Monday reported an annual 1.9 trillion yen ($18 billion) operating loss at its gargantuan Vision Fund, as its tech bets slid below cost, pushing the group to its largest-ever loss.

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo

The fund’s $75 billion investment in 88 startups were worth $69.6 billion at the end of March after booking losses of almost $10 billion at office space sharing firm WeWork and ride hailing firm Uber Technologies Inc alone.

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SoftBank posts record $13 billion operating loss as tech bets slide

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FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo

TOKYO (Reuters) – SoftBank Group Corp (9984.T) on Monday reported a record 1.4 trillion yen ($13 billion) operating loss in the April-March financial year as the value of its tech bets via the $100 billion Vision Fund crumbled.

The tech and telecoms conglomerate’s disastrous result, caused by a 1.9 trillion loss at the Saudi Arabian-backed fund, compared with a group operating profit of 2 trillion yen in the same period a year earlier.

The

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Mastercard updated Q2 2020 operating metrics reflect COVID-19 impact

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Mastercard has updated its operating metrics with an additional two weeks of information, in which it is monitoring the impact of the COVID-19 pandemic and related actions being taken by governments as it relates to border restrictions, social distancing measures and opening of businesses, and the resultant impact on spending levels.

With an additional two weeks of activity, Mastercard believe that we are starting to see the transition from the Stabilisation phase to the Normalisation phase in some markets, although it is very early days.

The Stabilisation phase is characterised by spending stabilising around new lower levels as a result

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Japanese telco SoftBank sees full-year operating profit stable at $8.6 billion

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FILE PHOTO: A woman using a mobile phone walks past the logo of SoftBank Corp in Tokyo, Japan December 18, 2014. REUTERS/Toru Hanai

TOKYO (Reuters) – Japanese telco SoftBank Corp (9434.T) on Monday forecast operating profit for the current financial year at 920 billion yen ($8.6 billion), largely unchanged from a year earlier.

Japan’s third-largest wireless carrier is a vital source of cash for highly leveraged parent SoftBank Group Corp (9984.T), which is set to post a record annual operating loss next week as Chief Executive Masayoshi Son’s tech investments curdle.

SoftBank Corp reported a 32%

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