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10 things in tech you need to know today MANDEL NGAN/AFP via Getty Images Good morning! This is the tech news you need to know this Friday. Sign up here to get this email in your inbox every morning. The developer behind 'Fortnite' is suing Apple after the iPhone maker yanked the game from the App Store. Epic Games said it was offering....

BusinessInsider
SoftBank Pumping In Another $1.1B Into WeWork To Help Offset Pandemic Impact: FT SoftBank Group Corp (OTC: SFTBY) is lending $1.1 billion to WeWork to mitigate the effects of the COVID-19 pandemic on its business, the Financial Times reported Thursday. read more....

benzinga.com
WeWork gets new $1.1 billion commitment from SoftBank The owner of money-losing shared office provider WeWork told employees on Thursday it has slashed its cash burn rate almost in half from the end of last year and obtained a $1.1 billion commitment in new financing from majority owner SoftBank. ....

FoxBusiness.com

SoftBank's profits rise on investments Japanese technology giant SoftBank Group Corp's said Tuesday that its profit rose 12 per cent in April-June from a year earlier as its investments added to its coffers, including sales of its shares in American carrier T-Mobile. Tokyo-based.......

jamaica-gleaner.com
American Express In Talks With Kabbage Over $850M Acquisition: Report American Express Company (NYSE: AXP) is in talks with Kabbage, an online fintech lender backed by Softbank (OTC: SFTBY), over an $850 million acquisition, read more....

benzinga.com
SoftBank returns to profit after 3 quarters of brutal losses — but says revealing actual operating profit 'not useful for investors' Koki Nagahama/Getty Images SoftBank on Tuesday reported a $12 billion quarterly profit. The results buck a trend of heavy losses at the prolific Japanese tech conglomerate, which declined to disclose a key financial metric. CEO Masayoshi Son told investors the company was now in "defense ....

BusinessInsider

SoftBank Reports Q1 Earnings Beat, Bouncing Back From Record Losses SoftBank Group Corp (OTC: SFTBY) posted $12 billion in first-quarter profit Monday, compared with a loss of nearly $13 billion in the same period a year ago. read more....

benzinga.com
SoftBank posts $11.8bn net profit in first quarter SoftBank Group on Tuesday reported a net profit of 1.25 trillion yen ($11.8 billion) in the April-June quarter thanks to the merger and sale of its stake in U.S. mobile carrier Sprint, marking a return to profit after suffering its worst ever loss in the previous quarter. (Nikkei)....

NewsOnJapan
10 things in tech you need to know today Tom Williams/CQ Roll Call Good morning! This is the tech news you need to know this Tuesday. Sign up here to get this email in your inbox every morning. An internal Facebook audit reportedly shows QAnon groups have millions of members, but some employees who ran the investigation fear the compan....

BusinessInsider

Citadel's big 2020 Larry Busacca/Getty; Shayanne Gal/Business Insider Happy Monday. Second quarter earnings continue to roll out. Some big ones to keep an eye on this week: Softbank (Tuesday), Tencent (Wednesday), and Cisco (Wednesday).See the rest of the story at Business InsiderNOW WATCH: We tested a ma....

BusinessInsider
SMIC will play a foundational role in the development of China's tech sector GettyImages/ mikroman6 SMIC needs to develop 7nm foundry capabilities to help China-based companies fill the void left by TSMC and Samsung. But even with government support, SMIC faces a significant challenge in developing 7nm manufacturing capabilities. Insider Intelligence pub....

BusinessInsider
Arm's conflicts in China will complicate Nvidia's reported efforts to buy it from SoftBank Arm and Arm China are reportedly engaged in a tense corporate governance conflict. And Arm losing control of its joint venture will complicate Nvidia's reported efforts to buy Arm from SoftBank. UK-based chip designer Arm appears to no longer be in control of its joint-venture business unit, A....

BusinessInsider

NVIDIA reportedly close to buying ARM from Softbank It’s a bit strange to hear that Arm, whose chip designs and computer instruction set architecture or ISA has been quickly overtaking the computing world, might soon be sold off despite its growing popularity and ubiquity. That is exactly the case, however, for the England-based company who jus....

slashgear.com
ByteDance offers to sell TikTok's US ops as Trump ban looms: New York Times report ByteDance, the Chinese parent company of wildly popular TikTok, has offered to sell the app's United States' operations as a way to avert a ban by the government of President Donald Trump, The New York Times reported on Saturday. After weeks of rumours and pressure, Trump said on Friday he was pr....

Dawn.com
Lawmakers' partisan divide will likely limit antitrust efforts to break up Big Tech The CEOs of Amazon, Google, Facebook, and Apple testified before Congress – but the US likely won't go forward with a breakup of Big Tech on antitrust grounds. With Republican and Democrat lawmakers having divergent agendas for the hearing, the partisan divide will likely limit the sev....

BusinessInsider

T-Mobile's latest IoT partnerships will help address enterprise demand for workplace health and safety tools Through its new partnerships, T-Mobile will provide 4G LTE connectivity for two workplace safety IoT devices that are intended to help curb the spread of coronavirus. Demand for such tools has risen, but the technology could spark consumer backlash over privacy concerns. Insider Intelligence pub....

BusinessInsider
SoftBank Robotics enters Korean market SoftBank Robotics announced Tuesday it will launch operations in South Korea with its artificial intelligence-enabled vacuum-cleaning robot Whiz. The company aims to take the lead in the assistive robotics market here, which is currently led by LG....

KoreaHerald.com
Google's remote work extension could inspire more companies to enact permanent remote work policies Executives at Google's parent company Alphabet decided that nearly all 200,000 employees and contract workers would work remotely until at least July 2021, pushing back the original restart target of January 2021, according to an email sent by CEO Sundar Pichai and obtained by Business Insider. Bus....

BusinessInsider

THE FUTURE OF FINANCE: Check out the 60 fintech startups VCs are betting will be breakout hits Hello! The financial-services industry is changing at a rapid clip, with fintechs addressing people's needs among the big winners in the wake of the coronavirus, as Dan DeFrancesco and Shannen Balogh reported this week.See the rest of the story at Business InsiderNOW WATCH: What it's like inside ....

BusinessInsider
One broadcaster is putting virtual crowds in MLB games powered by the technology behind 'Fortnite' — here's what they look like Silver Spoon Major League Baseball games will have virtual fans this season on Fox Sports. Silver Spoon studio is providing the virtual crowd, using the same technology behind the game "Fortnite." Other sports leagues have tried creative ways of making up for empty stadiums. Visit Busine....

BusinessInsider
How Nvidia's potential acquisition of SoftBank-owned Arm could shake out Nvidia has reportedly approached SoftBank to discuss acquiring UK-based Arm, in what would likely be the most expensive deal to date within the semiconductor industry, per Bloomberg. Though SoftBank CEO Masayoshi Son has touted Arm as "the center of the center" of his sprawling i....

BusinessInsider

Ant Group, Jack Ma's little-known $200 billion Chinese fintech firm, is gearing up for what could be one of the largest IPOs in history. Here's how the company went from an ant-sized startup to PayPal rival. Ant Group, an affiliate fintech company of Chinese retail behemoth Alibaba, is gearing up to go public with an anticipated $200 billion valuation. The company was formed in 2014 to run Alipay, a ubiquitous digital payment service used by millions of Chinese shoppers. Here's what we know about ....

BusinessInsider
Nvidia reportedly interested in acquiring ARM Last week it came to light that SoftBank may be trying to sell chipset design firm ARM, and according to a new report from Bloomberg, Nvidia could be interested. Citing the usual "people with knowledge," Nvidia has apparently approached ARM to court a deal with the Cambridge company. Nothing ha....

androidpolice.com
Dancing robots replace fans at Japanese baseball game With their stadium devoid of fans due to coronavirus restrictions, Japanese baseball team Fukuoka SoftBank Hawks have come up with an imaginative replacement: dancing robots.....

bdnews24.com

Ericsson's 5G Core contract with Softbank will be a critical source of long-term revenue in Northeast Asia This story was delivered to Insider Intelligence Connectivity & Tech Briefing subscribers earlier this morning. Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Connectivity & Tech industry with the Connectivity & Tech Briefing. You can learn more abou....

BusinessInsider
SoftBank Withdraws $700M From Credit Suisse Fund Over Conflict Of Interest With Vision Fund SoftBank Group Corp. (OTC: SFTBY) withdrew $700 million from four of its funds at Credit Suisse Group AG (NYSE: CS) after the bank expressed uneasiness with proceeds from the fund being funneled into companies backe read more....

benzinga.com
SoftBank Looking To Sell Or Take Chip Designer Arm Holdings Public: WSJ SoftBank Group Corp (OTC: SFTBY) is reportedly considering a full or partial sale of its British chipmaker subsidiary Arm Holdings, according to a Wall read more....

benzinga.com

Hilariously out of sync cheerleading robots dazzle during baseball game in Japan The Fukuoka SoftBank Hawks filled their seats with robots in place of humans. SoftBank’s ‘Pepper’ and Boston Dynamics’ ‘Spot’ performed a collaborative cheer during the game. While other sports have tried cardboard cutout crowds, the Hawks decided they'd go where....

Mashable
SoftBank could sell or spin off Arm way sooner than it planned The decision could lead to a massive paradigm shift SoftBank is reportedly assessing spin-off options for its semiconductor firm, Arm Holdings. The Wall Street Journal reports from its sources that those options include having an initial public offering or a sale. The Japanese tech conglomerate p....

androidpolice.com
WeWork says it's a year closer to profitability than previously planned thanks to 8,400 job cuts WeWork will be cash-flow positive, a step toward profitability, in 2021, according to a SoftBank executive. Marcelo Claure, CEO of the Japanese investment fund, cited WeWork's massive job cuts for the accelerated timeline in an interview with the Financial Times. Softbank has pressured m....

BusinessInsider

Meet 'Spot' and 'Pepper': Baseball's robot fans Say hello to "Spot" and "Pepper." They're big baseball fans who never stop moving and never get tired of singing for the Fukuoko SoftBank Hawks.....

CNN
Meet 'Spot' and 'Pepper' — baseball's new robot fans Japanese baseball team Fukuoko SoftBank Hawks temporarily replaced fans with dancing robots. "Spot" and "Pepper" robots danced on the sidelines at the Hawks-Rakuten Eagles game on July 7.....

CNN
Baseball: Dancing robots replace fans at Japanese baseball game July 08, 2020 5:58 PMTOKYO (REUTERS) - With their stadium devoid of fans due to coronavirus restrictions, Japanese baseball team Fukuoka SoftBank Hawks have come up with an imaginative replacement: dancing robots.....

straitstimes.com

Burning Man, Bird, Andreessen Horowitz, and Yeezy: These startups and tech companies received coronavirus paycheck loans The Trump administration on Monday released a list of the companies that received the largest sums of money distributed through the Paycheck Protection Program, a stimulus for businesses set up to combat economic fallout from the COVID-19 pandemic. A number of tech companies and Silicon Valley ....

BusinessInsider
SoftBank Shuns Elliot Management's Call For Board Oversight Of Vision Fund SoftBank Group Corp (OTC: SFTBY) will not heighten board oversight of its Vision Fund despite the demands of the activist investor Elliot Management. read more....

benzinga.com
Softbank's baseball team in Japan replaced fans with robots in the stands as the season starts without crowds Japan delayed its Nippon Professional Baseball season because of the coronavirus. After the state of emergency was lifted in the country, games began again on June 19. Without fans in the stadium, one team put Pepper robots in the stands instead. Visit Business Insider's homepage for mo....

BusinessInsider

Lemonade, a tech-driven insurance company, soars 132% in trading debut (LMND) Kimberly White/Getty Images Lemonade, a tech-driven insurance company backed by Softbank, soared 132% in its trading debut on Thursday. The company set its IPO price at $29, representing a market valuation of $1.6 billion. It was valued at $2.1 billion in its 2019 funding round. Lemonade rais....

BusinessInsider
Lemonade shares squeeze higher in stock market debut The New York-based insurance startup backed by Japanese tech giant SoftBank opened for trading at $50.06 a share and reached as high as $67.45....

FoxBusiness.com
SoftBank Looking To End Partnership With Wirecard After $2.1B Went Missing SoftBank Group Corp (OTC: SFTBY) is looking to move away from the troubled Wirecard AG (OTC: WRCDF read more....

benzinga.com

10 things in tech you need to know today Good morning! This is the tech news you need to know this Thursday. Mark Zuckerberg reportedly said Facebook is 'not gonna change' its policies on policing hate speech, in response to a boycott by more than 500 advertisers over the company's hate speech policies. Major brands like Coca-Cola, Fo....

BusinessInsider
SoftBank-backed Lemonade raises $319 million in IPO Insurance startup Lemonade Inc, which is backed by SoftBank Group Corp said it raised $329 million in its U.S. initial public offering.....

FoxBusiness.com
Yahoo Japan operator and Line to delay merger planned for October The SoftBank Corp. group company that controls Yahoo Japan Corp. and messaging app provider Line Corp. said Tuesday their merger planned for October will be delayed as antitrust screening in some countries is taking longer than expected due to the coronavirus pandemic. (Japan Times)....

NewsOnJapan

Postmates has quietly revived its plans to go public amid a surge of food delivery deals during the pandemic Smith Collection/Gado/Getty Food delivery company Postmates has quietly revived plans for an initial public offering, people familiar with the matter told Reuters on Monday. Postmates confidentially filed its IPO plans with the SEC in February 2019, but didn't proceed with a stock market debut a....

BusinessInsider
Planet Fitness customer tests positive for COVID, potentially exposing more than 200 people, health officials say Planet Fitness More than 200 people who visited a Planet Fitness gym in Morgantown, West Virginia, may have been exposed to COVID-19, local health officials said. Planet Fitness shares fell as much as 6% following a report on potential exposure. Visit Business Insider's homepage for....

BusinessInsider
SoftBank To Repurchase $1.9B in Corporate Bonds As It Tries To Cut Down Debt SoftBank Group Corp (OTC: SFTBY) will repurchase $1.9 billion of unsecured corporate bonds in an attempt to pare down debt. read more....

benzinga.com

10 things in tech you need to know today Reuters Good morning! This is the tech news you need to know this Friday. Verizon has joined the Facebook ad boycott, making it the biggest advertiser to do so thus far, CNBC reports. The ADL published an open letter on Thursday in which it mentioned it found a Verizon ad next to an anti-Semitic....

BusinessInsider
Brandless, the company that raised hundreds of millions from SoftBank to make brand-free products for millennials, is back. Its new CEO reveals what will be different this time. Brandless Brandless is back, but it has a new owner this time around. The startup that previously sold everything for $3 abruptly shut down in February. The newest iteration is a partnership between Utah-based digital marketing exec Ryan Treft and Clarke Capital Partners. Visit Bus....

BusinessInsider
Softbank-backed Lemonade wants to raise up to $286 million in an IPO — valuing the 'insurtech' firm at about 25% less than its latest funding round (LMND) Lemonade Lemonade, which filed to go public earlier in June, announced on Thursday a price range of $23 to $26 for its public offering. The updated regulatory filing could mean a significant valuation hit for the insurtech firm. Japan's SoftBank holds a significant stake in the money-losi....

BusinessInsider

SoftBank's Masayoshi Son is stepping down from Alibaba's board as he focuses on shoring up SoftBank's shaky finances Park Ji-Hwan/AFP/Getty Images SoftBank's Masayoshi Son is stepping down from the board of Alibaba, he announced in a shareholder call on Wednesday. Son was one of Alibaba's earliest backers, making a $20 million investment in the company two decades ago that was worth $60 billion by 2014. He sai....

BusinessInsider
SoftBankrupt? Masa Son says his rescue plan is paying off SoftBank founder and CEO Masayoshi Son knows that his company's staggering losses shook a lot of investors. But he's confident that his recovery strategy is working.....

CNN
Wirecard has filed for insolvency after a devastating scandal that saw $2 billion go missing and its ex-CEO get arrested CHRISTOF STACHE/Getty Wirecard, a once-valuable German fintech firm, filed for insolvency on Thursday as it battles a huge accounting scandal. More than $2 billion went missing from the company's balance sheet according to auditors, and Wirecard later admitted the money may never have existed. ....

BusinessInsider

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