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SoftBank Group Corp is planning to cut headcount at its flagship Vision Fund investing arm, CEO Masayoshi Son said on Mo...
11/08/2022

SoftBank Group Corp is planning to cut headcount at its flagship Vision Fund investing arm, CEO Masayoshi Son said on Monday, after a crash in the value of its portfolio pushed his conglomerate to a record quarterly net loss.
Vision Fund, which upended the world of venture capital with splashy bets on startups such as ridehailers Uber and Didi, posted a $23.1 billion loss in the April-June quarter as value evaporated from its investments in the market rout.

Businesses stung by rising costs and lower consumer spending are shying away from Shopify platform, creating a roadblock...
10/08/2022

Businesses stung by rising costs and lower consumer spending are shying away from Shopify platform, creating a roadblock in its plan to fix past missteps in overestimating e-commerce demand.
The Canadian company added just 71,000 net merchants in the first half of 2022, according to YipitData's research exclusively shared with Reuters. It added 680,000 at the peak of the pandemic in 2020 and 314,000 last year.

Kia Corp's Russian subsidiary launched a voluntary recall of more than 100,000 cars on Monday due to a possible airbag m...
09/08/2022

Kia Corp's Russian subsidiary launched a voluntary recall of more than 100,000 cars on Monday due to a possible airbag malfunction, a government regulator announced.
The recall affects Kia Rio models assembled between 2013 and 2018 at the Hyundai Motor Group factory in the Russian city of St Petersburg, Russia's federal agency for technical regulation and metrology (Rosstandard) said.

Tyson Foods Inc stock is getting hit on Monday after the meat producer reported lower than expected profit because peop...
09/08/2022

Tyson Foods Inc stock is getting hit on Monday after the meat producer reported lower than expected profit because people are buying less meat.
It’s not the only food company to experience that trend, however. Inflation has cut into earnings at competitors including Conagra Foods Inc . Meat sales are slowing and consumers, who are trying to balance rising food costs with other household expenses, are trading higher-priced items for lower-cost fare.

BioNTech SE shares tumbled more than 9% Monday after reporting second-quarter earnings before the open.The drugmaker pos...
09/08/2022

BioNTech SE shares tumbled more than 9% Monday after reporting second-quarter earnings before the open.
The drugmaker posted second-quarter earnings of €6.45 per share on revenue of €3.2 billion. Earnings and revenue fell from the second quarter of 2021, where it reported a profit of €10.77 per share on revenue of $5.3 billion.

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