SoftBank Group Corp is undergoing a significant transformation as it reallocates resources to prioritize founder Masayoshi Son’s ambitious artificial intelligence (AI) initiatives. The company has announced plans to lay off nearly 20% of its Vision Fund team globally, marking the third round of layoffs since 2022. This strategic pivot comes despite the fund’s recent strong quarterly performance, driven by gains in public holdings such as Nvidia and Coupang. The Vision Fund currently employs over 300 people worldwide. The restructuring signals a departure from a diversified startup investment portfolio to a more concentrated focus on AI-driven ventures. Son’s strategy includes high-risk, high-reward investments in AI infrastructure, such as the proposed $500 billion Stargate project, which aims to establish a vast network of U.S. data centers in collaboration with OpenAI. A Vision Fund spokesperson confirmed the layoffs, emphasizing the organization’s commitment to bold, high-conviction investments in AI and breakthrough technologies. This shift represents a return to Son’s hallmark approach of making massive, concentrated bets, moving away from the sprawling venture capital model that characterized the Vision Fund’s earlier phase. SoftBank’s recent investments include a $9.7 billion stake in OpenAI through Vision Fund 2, which manages approximately $65.8 billion in total. Additionally, the company is focusing on building an AI ecosystem by acquiring chip firms like Graphcore and Ampere Computing and taking stakes in Intel and Nvidia. Despite the capital-intensive nature of this strategy, execution risks remain, as evidenced by delays in the Stargate project and a similar joint venture with OpenAI in Japan. SoftBank CFO Yoshimitsu Goto assured stakeholders that the company maintains a robust cash reserve of 4 trillion yen ($27 billion), underscoring its financial stability during this transition.
标签： Asia
亚洲
-
US lawmaker wants Trump to restrict Chinese flights over rare earths access
In a significant escalation of U.S.-China trade tensions, Representative John Moolenaar, chair of a U.S. House of Representatives committee on China, has called for stringent measures against Chinese airlines. On Thursday, Moolenaar urged the Trump administration to restrict or suspend Chinese airline landing rights in the U.S. unless Beijing reinstates full access to rare earths and magnets. The Republican lawmaker also advocated for a review of export control policies related to the sale of commercial aircraft, parts, and maintenance services to China. Moolenaar emphasized that such actions would convey a strong message to Beijing, highlighting that disrupting critical supplies to U.S. defense industries would not go unanswered. Rare earths, comprising 17 essential elements, are vital for manufacturing products ranging from military equipment to electric vehicles and consumer electronics. China, which dominates the global rare earths market, imposed export restrictions on these materials in April 2023 in response to U.S. tariff increases. Meanwhile, U.S. airlines are operating significantly fewer flights to China than permitted, reflecting low demand. Recent reports suggest China may purchase up to 500 Boeing aircraft as part of ongoing trade negotiations. The U.S. Transportation Department recently extended flight approvals for major U.S. carriers, allowing only 48 weekly flights to China out of 119 authorized. Chinese airlines maintain a similar number of flights to the U.S. The dispute over air travel between the two nations has been a recurring issue, exacerbated by the COVID-19 pandemic and allegations of anti-competitive practices by the Chinese government. Neither U.S. airline representatives nor the Chinese Embassy in Washington have commented on the latest developments.
-
New Zealand’s new central bank governor to face credibility test
New Zealand’s Reserve Bank (RBNZ) is poised for a significant leadership transition as Finance Minister Nicola Willis prepares to announce a new governor in the coming weeks. This decision comes at a critical juncture for the central bank, which has been grappling with economic instability, reputational damage, and political scrutiny. Interim Governor Christian Hawkesby, who has expressed his desire to retain the position, has emphasized the bank’s commitment to stabilizing inflation and fostering a resilient financial system. However, the RBNZ faces mounting challenges, including a weak economy, high unemployment, and public dissatisfaction with its handling of inflation and interest rates. The departure of former Governor Adrian Orr and Chairman Neil Quigley has further exacerbated the bank’s struggles, leaving it in need of strong leadership to restore public trust and independence. Potential candidates for the role include John McDermott, former RBNZ chief economist, and Dominick Stephens, Treasury’s chief economist, both of whom have declined to comment on their interest. The new governor will inherit the daunting task of navigating economic recovery while defending the bank’s autonomy from an increasingly vocal government. Experts suggest that an external candidate might be better positioned to implement necessary reforms and rebuild confidence in the institution.
-
Foreign holdings of US Treasuries surge to all-time high in July, China’s sink
Foreign holdings of U.S. Treasuries reached an unprecedented high in July, according to the latest data from the U.S. Treasury Department. The total value of foreign-owned U.S. Treasuries climbed to $9.159 trillion, marking a third consecutive month of record-breaking figures. This surge was primarily driven by increased investments from Japan and the United Kingdom, which solidified their positions as the top non-U.S. holders of American government debt. Japan’s holdings rose to $1.151 trillion, the highest since March 2024, while the UK’s holdings grew by approximately 5% to nearly $900 billion. In contrast, China continued to reduce its exposure to U.S. Treasuries, with holdings dropping to $730.7 billion, the lowest level since December 2008. This decline reflects China’s long-term strategy to diversify its reserves and reduce reliance on the U.S. dollar, amid economic challenges and trade tensions. On a transactional basis, the U.S. saw $58.2 billion in foreign inflows of Treasuries in July, rebounding from outflows in June. However, foreign investors sold $16.3 billion in U.S. equities during the same period, signaling a shift in global investment preferences. The net capital inflow into the U.S. also fell sharply to $2.1 billion in July, down from $92 billion in June, highlighting the volatile nature of international capital movements.
-
Cyber attacks cost German economy 300 bln euros in past year, survey finds
The German economy suffered staggering losses of nearly €300 billion ($354.99 billion) over the past year due to a surge in cyberattacks, according to a recent survey by industry group Bitkom. The report, unveiled on September 18, 2025, in Berlin, highlights that foreign intelligence agencies, particularly from Russia and China, are increasingly behind these attacks, overshadowing traditional cybercriminals. Ralf Wintergerst, President of Bitkom, emphasized during a press conference that nearly half of the companies able to trace the origins of attacks identified Russia and China as the primary sources, while a quarter pointed to other EU countries or the United States. The survey, which polled 1,002 companies, revealed that ransomware attacks, which lock data until a ransom is paid, were the most prevalent, affecting 34% of businesses—a significant jump from 12% in 2022. One in seven companies admitted to paying ransoms. While large corporations were generally well-prepared for the escalating cyber threats, small and medium-sized enterprises, which form the backbone of Germany’s economy, were found to be more vulnerable. The €289.2 billion in damages primarily stemmed from production losses, theft, and substantial legal and remediation costs. Sinan Selen, Deputy Head of Germany’s domestic security service BfV, noted that the lines between cybercrime and cyberespionage are increasingly blurred, with state actors often purchasing credentials from criminals on the dark web. He also identified Iran and North Korea as significant sources of cyberattacks. The findings underscore the growing complexity of cybersecurity in an era of heightened geopolitical tensions, particularly since Russia’s invasion of Ukraine in 2022.
-
Trump’s dream of retaking Bagram might end up looking like an Afghan re-invasion, sources say
Former U.S. President Donald Trump’s ambition to reoccupy Bagram Air Base in Afghanistan has sparked significant debate among current and former U.S. officials, who argue that such a move could resemble a full-scale re-invasion of the country. Speaking to reporters during a trip to London, Trump emphasized the base’s strategic proximity to China, stating, ‘It’s an hour away from where China makes its nuclear weapons.’ However, experts and officials have expressed skepticism about the feasibility and practicality of this plan.
-
oneworld Alliance considers Indian partner as market expands
The oneworld Alliance, a prominent global airline consortium comprising 15 members including American Airlines and Qantas Airways, is actively exploring the possibility of adding an Indian airline partner. This strategic move comes as India’s aviation market continues to experience rapid expansion. Nat Pieper, the alliance’s CEO, revealed this development during the Wings Club gathering in New York, a forum for aviation executives and analysts. Pieper emphasized the complexity of integrating a new member, noting that the decision must align with the interests of both the alliance as a whole and its individual members. With ten of its current members already operating in India, the alliance is also considering collaborative initiatives such as loyalty programs and shared lounge facilities to enhance their collective presence in the region. The anticipated addition of Hawaiian Airlines in 2026, following its acquisition by Alaska Air in 2024, further underscores the alliance’s commitment to growth and diversification.
-
India regulator rejects US firm’s fraud claims against Adani Group
India’s Securities and Exchange Board (Sebi) has officially dismissed allegations of stock manipulation and financial fraud against billionaire Gautam Adani and his conglomerate, which were initially raised by US short-seller Hindenburg Research. The investigation, launched in 2023 following Hindenburg’s explosive report, concluded that Adani’s companies did not violate regulatory norms. Sebi’s findings revealed no evidence of undisclosed transactions between Adani’s firms and related parties, nor any signs of market manipulation, money siphoning, or investor losses. Adani, one of Asia’s wealthiest individuals, celebrated the decision on social media, stating that Sebi’s ruling reaffirmed the baseless nature of Hindenburg’s claims. The allegations had previously caused Adani’s group to lose over $100 billion in market value within days. The controversy also fueled political tensions in India, with the opposition Congress party accusing Prime Minister Narendra Modi’s BJP of inaction. Hindenburg’s founder, Nate Anderson, recently announced the dissolution of the firm, citing personal reasons. The case underscores the complexities of financial scrutiny and the impact of short-selling on global markets.
-
BOJ to keep interest rates steady as tariff, US slowdown risks loom
The Bank of Japan (BOJ) concluded its two-day policy meeting on Friday, September 19, 2024, with expectations of maintaining its short-term interest rate at 0.5%. This decision comes amidst growing concerns over the impact of U.S. President Donald Trump’s tariffs and signs of a weakening U.S. economy. The BOJ’s cautious stance reflects the fragile state of Japan’s economic recovery, which is increasingly vulnerable to external pressures, particularly on exports. Governor Kazuo Ueda is scheduled to hold a news conference at 0630 GMT, where markets will closely monitor his views on the tariff implications and the broader economic outlook. Analysts predict that the BOJ will remain cautious in its approach, with potential rate hikes delayed until early next year. The central bank’s policy outlook is further complicated by domestic political uncertainty, as Japan’s ruling party prepares for a leadership race following Prime Minister Shigeru Ishiba’s resignation earlier this month. Despite global uncertainties, some hawkish BOJ members have warned of the risks of prolonged negative real borrowing costs, driven by stubbornly high food prices and a tight job market. Japan’s consumer inflation has remained above the BOJ’s 2% target for over three years, adding pressure on households’ cost of living. The BOJ exited its decade-long stimulus program last year and raised rates in January, but the path forward remains uncertain as policymakers navigate the dual challenges of domestic inflation and external economic risks.
-
Virtual K-pop stars win lawsuit against critic on social media
In a landmark ruling, a South Korean court has ordered a social media user to pay 500,000 won ($360; £265) for defaming the virtual K-pop boyband Plave. The group, whose members are animated characters voiced and performed by anonymous real-life individuals through motion-capture technology, has become a sensation in South Korea’s entertainment industry. The case, filed by Plave’s agency, Vlast, marks one of the first legal disputes involving virtual K-pop idols. The defendant had posted derogatory remarks online, including comments questioning the appearance and character of the real performers behind the avatars. The court ruled that attacks on widely recognized avatars also constitute defamation of the real individuals they represent. While Vlast sought 6.5 million won for each performer, the court awarded 100,000 won per person, citing the severity of the comments and the context of the incident. Vlast has appealed the decision, emphasizing the case’s significance in setting a precedent for protecting virtual avatars. Advocates argue that virtual idols can reduce the intense scrutiny faced by human performers, offering a new frontier in the K-pop industry.