LISTEN TO ARTICLE 3:32 SHARE THIS ARTICLE Share Tweet Post Email Photographer: Kiyoshi Ota/Bloomberg Bloomberg’s daily technology newsletter is chronicling the impact of Covid-19 on the global tech industry. Sign up here. SoftBank Group Corp.’s Vision Fund is preparing to cut to staff by about 15% after reporting record losses for the last fiscal year, according to a person familiar with the matter. Rajeev Misra, head of the London-based Vision Fund, has expanded the number of planned cuts in...

LISTEN TO ARTICLE 3:01 SHARE THIS ARTICLE Share Tweet Post Email The Japanese wireless unit of SoftBank Group Corp. led a $19.5 million investment in Splyt Group Ltd., a U.K.-based startup that makes software to simplify ride-hailing abroad. With the latest round, Splyt has raised a total of $35 million, including an earlier investment by Southeast Asia’s ride-hailing giant Grab. SoftBank Corp. declined to disclose the exact amount of its contribution, but said the deal gives it a seat on...

LISTEN TO ARTICLE 2:50 SHARE THIS ARTICLE Share Tweet Post Email Photographer: Michaela Handrek-Rehle/Bloomberg The meltdown at Wirecard AG is raising questions about the company’s complicated relationship with the troubled SoftBank Group Corp. The Japanese conglomerate signed a strategic cooperation agreement with the payments firm last year and agreed to buy $1 billion of Wirecard convertible bonds, although that exposure was later cut through a complex transaction. This month, a partner at...

SHARE THIS ARTICLE Share Tweet Post Email SoftBank Group Corp. doubled the amount it plans to spend buying back shares and announced changes to its board, including the resignation of long-time director Jack Ma. The company plans to repurchase as much as 500 billion yen ($4.7 billion) worth of its own stock by March 2021, it said in a statement. That’s on top of an equally sized repurchase it had announced in mid-March. The Tokyo-based company also announced several changes to its board,...

LISTEN TO ARTICLE 5:10 SHARE THIS ARTICLE Share Tweet Post Email Photographer: Kiyoshi Ota/Bloomberg SoftBank Group Corp. said its Vision Fund business lost 1.9 trillion yen ($17.7 billion) last fiscal year after writing down the value of investments, including WeWork and Uber Technologies Inc. The company posted an overall operating loss of 1.36 trillion yen in the 12 months ended March and a net loss of 961.6 billion yen, according to a statement on Monday. The Tokyo-based conglomerate...