SoftBank founder Masayoshi Son speaks in futuristic terms about his company, but the success of his late-stage VC fund is still unknown.Technologyread more
Trump's threat, posted on Twitter, comes amid rising international tensions in the Middle East as the U.S. has dispatched a carrier strike group and bomber task force to the...Politicsread more
Reports of Tesla vehicles spontaneously catching fire could make customers wary of EVs just as the industry ramps up production plans.Autosread more
Amazon's large and flashy investments stand out from those of its tech peers over the past year.Technologyread more
Huawei Technologies will immediately lose access to updates to the Android operating system, a source close the matter told Reuters.Technologyread more
Robert Smith announced that he and his family would set up a grant to pay off the nearly 400 graduating seniors' student loans. The total gift is estimated at $40 million.Educationread more
Trump's relationships with Deutsche Bank have drawn scrutiny in Congress and elsewhere. Trump sued the bank last month to prevent it from complying with Congressional...Financeread more
Consumer IPOs from Snap to Uber have been disappointing and serve as a reminder that private investors are making all the money.Technologyread more
China's currency has been an important barometer for progress in U.S.-Chinese trade talks, and right now it's signaling things aren't going well.Market Insiderread more
The outrage has even inspired a Change.org petition called "Remake Game of Thrones Season 8 with competent writers," with over half-a-million signatories and climbing.Entertainmentread more
The move comes after star runner Alysia Montaño's May 12 op-ed in the New York Times in which she detailed her experiences with Nike.Retailread more
Sprint's shares were up 8.2 percent at $4.20 in extended trading on Wednesday.
SoftBank, which owns about 80 percent of Sprint, said it purchased additional shares of Sprint through its wholly-owned subsidiary Galaxy Investment Holdings at a cost of about $87 million.
SoftBank said, as a result of the purchase, it does not contemplate that its ownership of Sprint's outstanding common stock will increase to 85 percent or more.
SoftBank had lost confidence in Sprint and was considering selling it as Sprint had been burning through cash because of monthly leasing plans that require U.S. wireless carriers to pay vendors for devices up front.
However, after Sprint last week reported a smaller-than-expected quarterly loss, as it added a net 675,000 customers helped by promotions and offers such as doubling data capacity, SoftBank assuaged investors' concerns by saying it had no plans to sell its stake in the wireless carrier.
SoftBank's Chief Executive Officer Masayoshi Son also made a rare appearance on Sprint's earnings call and said that SoftBank would set up a leasing company with other partners to finance payments of devices leased by Sprint customers.
SoftBank said on Wednesday it was "enthusiastic" about Sprint's prospects and working closely with Sprint on its "network strategy to enhance Sprint's competitiveness and reduce its capital expenditures and operating costs."
At Wednesday's close of $3.88 on the New York Stock Exchange, Sprint's shares had fallen about 7 percent this year.