The EU opened a formal investigation into Amazon on Wednesday centered on how the e-commerce giant uses merchants' data.Technologyread more
Analysts and investors are keen to find out how looming interest rate cuts will impact the second biggest U.S. lender by assets.Financeread more
IAC is set to invest $250 million in Turo, a peer-to-peer car-sharing firm that is often referred to as the "Airbnb for cars."Technologyread more
U.S. officials see the deal as a threat to NATO, for which Turkey provides the second-largest military.World Politicsread more
Google's services have been blocked in China for several years, but the company still has a business there, as the tech giant seeks to sell products to Chinese firms in...Technologyread more
China may have signaled it's going more hard-line on trade, but it could be a good thing, former U.S. negotiator Clete Willems told CNBC.World Economyread more
Support for U.S. President Donald Trump increased slightly among Republicans after he lashed out on Twitter over the weekend in a racially charged attack on four minority...Politicsread more
While the vote served as a show of solidarity for Democrats, it recommended no substantive penalty against Trump.Politicsread more
Barney Frank, former chairman of the House Financial Services Committee, says that significant progress has been made to reduce the amount of imprudent household lending in...Invest in You: Ready. Set. Grow.read more
Facebook's cryptocurrency project has already been met with skepticism from policymakers around the world.Technologyread more
United's Optum is launching a new partnership with John Muir Health aimed at helping the small northern California hospital operator become more competitive with its larger...Health and Scienceread more
SoftBank CEO Masayoshi Son's plan to take over Silicon Valley and the global world of technology is starting to take form.
The $100 billion Vision Fund will invest in another 30 companies over the next two years, adding to the 30 it has already invested in over the last year or so, said Rajeev Misra, the fund's CEO. He spoke Tuesday before Son and Saudi Crown Prince Mohammed bin Salman gave a press conference to announce their $200 billion solar power generation project in New York.
The fund aims to be the largest shareholder in 100 technology companies around the world after it has finished investing all of its money, he said. The goal is to create the biggest ecosystem of tech companies in the world.
The Vision Fund will also push to consolidate several of its companies, Misra said. SoftBank invested in ride-sharing companies Uber and Grab and helped orchestrate a merger in a deal announced earlier this week.
The Vision Fund's largest investments thus far include Uber, ARM Holdings, Nvidia and WeWork. The fund itself is controlled by SoftBank, but includes investments from Saudi Arabia's Public Investment Fund, which chipped in the largest sum at $45 billion, as well as the UAE's Mubadala Investment Co., Apple, Foxconn, Qualcomm and Sharp. It may also include other undisclosed investors.
Part of the strategy will include investments strategically moving operations beyond their home markets and into other countries, where they can be linked with other holdings in the fund, Misra said.
The fund will actively push many of its investments to work with each other, creating a web of companies controlled, or heavily influenced, by SoftBank and its CEO Masayoshi Son, Misra said.
For example, real estate brokerage site Compass, which took a $450 million investment from the fund in December, is using space from WeWork, he said.
The fund, which was at $93 billion, has now closed with $100 billion after raising $7 billion from other U.S. companies and managers of the Vision Fund in the last few months, according to a source familiar with the fund.