Top executives at a function for SoftBank’s listing at the Tokyo Stock Exchange. File/Agence France-Presse
Uber’s autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group Corporation, giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public stock offering.
Japanese telecom SoftBank Corp on reported a 15 per cent rise in third-quarter operating profit, beating estimates, underpinned by its mobile business. SoftBank also raised its full-year operating profit forecast to 900 billion yen ($8.19 billion) from 890 billion yen previously.
With skateboarding making its Olympic debut in Japan next year, Cuban skateboarders are hoping their sport will finally be accepted at home.
The US economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long.
Canadian plane and train maker Bombardier said on Friday it would cut 2,500 jobs, or about 11% of the workforce at its aviation unit, as the coronavirus pandemic’s crushing impact on the air industry adds to its long list of problems.
The COVID-19 pandemic has introduced unique market pressures and challenges across industrial sectors. In the context of the real estate industry in the UAE, the crisis interrupted a process of steadily building renewed growth.
Germany has become the second major European Union (EU) economy to use a multi-billion-euro recovery plan to spur clean driving, with incentives for electric cars that should boost Volkswagen (VW) and Tesla, while polluting sport utility vehicles (SUVs) face higher taxes.