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CEO Masayoshi Son touted the Vision Fund’s 30% internal rate of return for backers including Saudi Arabia. It's driven by unrealised profit on recently floated companies like Coupang and DoorDash. Unwinding just one quarter of valuation uplift would take the IRR down nearer 10%.
The country looks ill-prepared for its fresh wave of viral contagion. With a slow vaccine rollout, foreign visitors won’t return anytime soon. It needs to wean itself off this economic crutch, but political unrest deters overseas investment. That’s a trying combination.
It’s easy to doubt trustbusters’ ability to hold giant companies to account. But as railroads have shown, consolidation doesn’t mean that end users are gouged. Shareholders have won out, too, suggesting there is give-and-take. That’s the best regulators can hope for.
Until recently, the idea of ordering a carton of oat milk on your phone and having it delivered to your home within 10 minutes was unimaginable. The notion of a company making a profit doing so was even more outlandish. But some of the world’s biggest tech investors, including SoftBank Group, Tencent and Prosus, are betting heavily on the “ultra-fast delivery” business. The stage is set for a frantic and expensive fight. Delivering groceries is hardly new. Britain’s Ocado has been refining its robot-enabled warehouses for over a decade. Online orders accounted for almost a fifth of UK...
After months of feuding, Veolia is buying the 70% of rival Suez it doesn’t own for 20.5 euros a share. Target boss Bertrand Camus has squeezed a few extra euros from his suitor. Meanwhile Veolia gets to keep its big prize: 500 mln euros of cost savings in North and South America.