thatt was also bad bets masayoshi son admitted to.is what he had to say last night at the press conference. >> the large size invest these are surviving and doing steady, and have a better chance of going through this valley of coronavirus. the exception is wework. we made a mistake and i admitted that many times. i was bullish and made the wrong decision. stephen: he not only admitted to such mistakes but also he did not anticipate how the global economy would be affected by the fallout from the pandemic. right now, what softbank is doing his racing to put its house in order with another $500 billion share buyback announced yesterday. plans to share 4.5 trillion yen in assets to shore up balance sheet and stock price which held up fairly well given the trouble. alibaba likely to sell stakes in its mobile unit as well as t-mobile. the domestic mobile unit is pretty well as more people use the internet on their phones but it was the vision fund losses that drag it down. by the way, they may not pay a dividend this year to preserve cash

that was probably masayoshi son's best investment.wo of them separately have invested in other asian startups. stockoubling of the buyback was interesting as well because we had a similarly sized buyback in march. this time they will repurchase marchh as ¥500 billion by 2021. mushroom she son -- masayoshi son trying to shore up confidence as well as the share price and what has been a difficult year for softbank. we are expecting later today to book a record $12.5 billion operating loss for the fiscal year. 1.3 ¥5 trillion. a lot of it is tied to the markdowns we are seeing in these investments including wework. bloomberg intelligence notes that softbank's operating loss forecast infers that the losses at wework and the vision fund could have quadrupled, so it will not be a pretty number when we get the results of the full year for softbank, but they did telegraph that about three weeks ago with preliminary numbers. do you knowt more about the saudi arabia and sovereign wealth fund as it seeks a $10 billion margin loan? it will be bac

masayoshi son stuck with him in the past.they have shot down rumors he's going to leave in the past but we keep hearing those rumors, the vision fund continues to bleed and continues essentially to sell stuff. you know, liz, i told neil this earlier. when le hishhman brothers was lg to sell its profitable financial asset business during the financial crisis, you knew they were in bad shape. when firms do stuff like this as softbank is considering selling assets that are doing okay including their stake in t-mobile, you got to really watch these companies. there's a problem there. so again, some positive news out of the sovereign wealth funds, they are buying, buying stuff, dipping their toes in the water and they are pretty active from what i understand. more than toes in the water. they are pretty active considering this situation. they are providing a floor to the economic decline that's going on across the world and in the u.s. they are not quite sold on anything out of softbank. softbank has some real problems. back to yo

masayoshi song provided that animation of unicorns falling into a valley of the coronavirus take a look. but scott says nikolai on a book called all the however i believe among them there will be true unicorns with wings to fly over the valley. you're not only a tickle model i believe we will see the birth of flying unicorns in the time of crisis. when they're with us and there you have it and that's it for me and the business team here in berlin you can find out more about these and other business stories on line it dot com slash business to check us out on facebook twitter i'm stephen bears and it's watching the from. target for preservation german businessman bill fleet pabst owns a march on to wildlife park in zimbabwe a few organizes sustainable hunting tourism there are other animal protection activists in zimbabwe say hunting should not be allowed the danger of abuse is changing great power trophy hunting can save species close up. next on t.w. . india. it is insulting to you again to feel. safe to. say innovation projects are helping moco people need to switch to a new labels ho

in fact, masayoshi son was to raise a new one every couple of years.and wework decimating returns, that is definitely off the cards right now. guy: it looks like this could be the last one ever, doesn't it? the idea of massive funds and the disproportionate effect they would have, and you saw that effect in silicon valley as they try to throw money at some of these businesses. that had a big gravitational effect in silicon valley. interesting that jack ma is going to be leaving the board. i think he's been on the board for around 30 years. this is bloomberg. ♪ i'mie: live from new york, vonnie quinn, along with guy johnson in london. this is "bloomberg markets." we are joined by goldman sachs' head of the urban investment group. we are also joined by bloomberg's sonali basak. thank you for joining us. explain to us how much and where this money went out of goldman's coffers and into small businesses around the country. margaret: sure. we made a $500 million commitment to make small business loans available to businesses around the country, and we wante

masayoshi song provided that animation of unicorns falling into a valley of the crown of ours look. assesses nikolai on the bottle there however i believe among them there will be true unicorns with wings that fly over the valley . only a nickel mud i believe we will see the birth of flying unicorns and the time of crisis. when they're with us and there you have it and that's it for me and the business team here in berlin you can find out more about these and other business stories online at the dot com slash business and to check us out on facebook twitter i'm saving there's a that's watching. the virus has become part of the system. is the world on the brink of a major transition some believe globalization is coming to an end while others think we should keep going full speed ahead of future for as long as we can. is it time for a clean. future scenarios for the economy and society for 3000. targeted for preservation. businessman bill pabst owns a large profit wildlife park in zimbabwe he organizes sustainable hunting tourism there are other animal protection activists in zimbabwe

. ♪ vision.ftbank's blurry vision fund loses billions and muslim she some -- and masayoshi son's warnsfuture. some analysts start to lean more positive. in the chinese president speaking at the opening ceremony of the world health assembly as hhe country faces hars accusations from the u.s. over the virus. welcome to "bloomberg daybreak" on this monday, may 18. i'm alix steel. richard breslow has this line. we all have good days, we all have bad days. today, we are just seeing a rally. part of that is helped by oil prices over $30 a barrel as supply has got

vision fund loses billions and muslim she some -- and masayoshi son's warns of a bleak future. some analysts start to lean more positive. in the chinese president speaking at the opening ceremony of the world health assembly as hhe country faces hars accusations from the u.s. over the virus. welcome to "bloomberg daybreak" on this monday, may 18. i'm alix steel. richard breslow has this line. we all have good days, we all have bad days. today, we are just seeing a rally. part of that is helped by oil prices over $30 a barrel as supply has got shut a lot faster than we thought, plus chinese demand levels almost at precrisis level. time for today's market moving news from our washington and new york teams. we want to start with fed chair jay powell's comments on the economy. in an interview with cbs, he expressed confidence in the recovery, but timing is still hard to predict. chair powell: the economy will recover. it may take a while. it could stretch through the end of next year. we really don't know. michael mckee, international economics and policy correspondent, has more. w

masayoshi son mentioned that today on his, on his conference call. he raises the issue.ring it is almost a done deal. whether they sell their stake in t-mobile, remember they own a stake in t-mobile to deutch telecom remains to be seen i hear they're selling anything they can because this is a survival time for this fund. neil, again they were in bad shape before we went into this. they're obviously in worse shape now and when you're in that type of a position, i will give you the analogy, neil, during the financial crisis i knew merrill lynch was in desperate, desperate stake when it had to tell its stake in bloomberg lp, the information data and news organization. very profitable organization owned by mike bloomberg, who recently tried to run for president but long time businessman. no reason to sell that. it was profitable stake because they needed money, they really needed the money. that is what i tell you about this. if they sell out of t-mobile, they really need the money and it is a sign they don't have a lot going for themselves and they're worried about their f

softbank loses aliens on start up debt that sours and masayoshi son says there c

son hasson -- masayoshi said he wants to use the money to sell off debt and buy backs.lityabout acorn's control methods led to a failed takeover bid. the company also received a warning from the fda. it's is that has reached an agreement with lenders in the sale of its business. disney, universal, and seaworld taking another step toward reopening theme parks in orlando, florida. they will be submitting plans to a local task force today. officials say it will likely be june or later before they reopen. that is your bloomberg business flash. alix: thanks so much. as businesses look to reopen, we will also look at the jobs impact. i want to highlight the impact of women falling out of the job force. out of citigroup, by catherine man. -- accordinglion to the report, most women work in sectors related to virus related layoffs. austin consulting group says they are taking on an additional 28 hours a week of household chores and childcare, women taking on a disproportionate share. full disclosure, that is not me. my husband does most of the schooling. he's pretty awesome. thi

softbank's ceo, masayoshi son, admits he made the wrong decision for wework, his fund lost money. the worst losses in the company's 39 year history. joining us now from singapore is the equity research md, atul goyal. as we get the details of the share buyback scheme and the share offloading when it comes to alibaba, what is next for softbank given the liquidity demands that are still ongoing? is there worse to come? thanks for having me. retweeted that what we like is the pattern of the buyback. the fundamentals are still not favorable. we are not very impressed with the companies investment decisions. however,. race and for the investors, what matters is stock and we saw last about600 billion buyback, $5.5 billion buyback get it pushed the stock up 50% from ¥4200 to y6,000. ¥25 year, the buyback is billion. almost four times as big, and the stock is about 45 to 46. a huge amount of demand and less supply will push the stock higher p at secondly, and very importantly, the backstop, not just investment grade, but high-yield investment. softbank has lots of such investments. it doe

that athe backstory is softbank, after a steep incline in the share price, masayoshi son announced aback of his stock, which he has been proceeding with, and that they were going to sell more than $40 billion in assets, so we have seen them take some steps in that direction. they sold off a chunk of their alibaba stop. they have an enormous holding in alibaba. the chinese e-commerce company. they are selling a bit of their domestic wireless operation, which is softbank corp., and they own a stake in t-mobile, the u.s. wireless operator, because they merged sprint into that and got an equity stake, so sources have told us they are selling a big chunk of that business to raise cash and they are going to use that to buy back the stock and then also to pay down some of the debt that they've got. shery: what is next for softbank? we have seen historic losses for the company, for the vision fund as well, and what difference a year has made, so if they are trying to really upset all of these losses, what is in store in the future when these portfolio companies seem to be suffering? peter: f