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SoftBank Vision Fund, created by the Japanese corporation SoftBank Group, and the Chinese group Sense Time are working on the terms of the deal on the Japanese fund's acquisition of a stake in the world's most expensive startup engaged in artificial intelligence, finversia.ru writes, citing Bloomberg. According to Bloomberg, referring to informed sources, SoftBank Vision Fund intends to invest about $1 billion in Sense Time Group, which develops a face recognition system, contributing to the extensive surveillance system in China. The deal will allow SoftBank to join the list of the largest companies in the field of technology and investments that supported the Chinese start-up.
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
On Monday, Remington Arms Co. filed for bankruptcy protection for the second time since 2018 as the U.S. firearms manufacturer faced financial difficulties due to gun sales restrictions. According to the court filing, the company filed for ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
The dollar firmed on Thursday as a decline in Chinese retail sales worried investors, while the rest of the market anticipates the EU summit this weekend. The euro was down 0.1% to $1.1401, while the dollar stood at 106.95 on the yen. The ...
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