Softbank-Saudi tech fund becomes world’s biggest with $93 billion of capital

The world’s largest private equity fund, backed by Japan’s Softbank Group and Saudi Arabia’s main sovereign wealth fund, said on Saturday it had raised over $93 billion to invest in technology sectors such as artificial intelligence and robotics. “The next stage of the Information Revolution is under way, and building the businesses that will make […]

A decade after debt forgiveness, Africa still hooked on dollars

When rich countries wrote off billions of dollars of African debt in 2005, they hoped governments would think twice about borrowing again in costly foreign currencies. Over a decade later, most sub-Saharan African countries still rely on U.S. dollar-denominated debt to finance their economies. Some investors say this is sowing the seeds of future debt […]

Insurers get a new global accounting regime

Comparing like with like Insurers get a new global accounting regime The rules will change how profits are reported, giving investors greater transparency Listed firms in over 120 countries, including all large economies bar America, issue financial statements according to international financial reporting standards (IFRS) set by the International Accounting Standards Board (IASB). One industry, […]

Dealmakers aplenty, SoftBank’s Son looks for wonks

Deep Nishar spends more time roaming university hallways than he does corporate boardrooms. A former electrical engineer who helped develop Google’s mobile phone business and grow LinkedIn’s users from 30 million to half a billion, Nishar is exactly the sort of industry specialist that SoftBank Group Corp CEO Masayoshi Son wants for his new $100 […]

European Union to fine Facebook 110m euro for deceit

European Union (EU) antitrust regulators on Thursday said they would fine Facebook 110 million euros (122.4 million dollars) for providing misleading information over its purchase of messaging service WhatsApp in 2014. Calling it a “proportionate and deterrent fine,” the European Commission, which acts as the EU’s competition watchdog, said Facebook had said it could not […]

U.S. stocks slump, bonds rally amid Trump turmoil: Markets wrap

U.S. Stocks Slump, Bonds Rally Amid Trump Turmoil: Markets Wrap

Risk off sentiment grips markets with Washington on edge Stocks fall as volatility indexes, bonds gain; oil rises Assessing President Trump’s Fallout on the Markets The turmoil engulfing President Donald Trump’s administration spilled into financial markets as U.S. stocks fell the most since March, measures of volatility spiked higher and Treasuries rallied with gold. The […]

Spain calls for deeper euro zone integration, pooled debt

Spain’s conservative government has added its voice to calls for deeper integration in the euro zone, suggesting to Brussels in a paper that members of the bloc should pool some aspects of their debt management and share a budget to fight crisis shocks. German Chancellor Angela Merkel and France’s new President Emmanuel Macron agreed on […]