and has been pushing for changes demanding that soft bank buys back a significant chunk of its shares improve transparency and make the board of management more independent and diverse masayoshi son promise to rein it in and be more careful in his investments in the near term though it looks like vision fun too has been delayed as investors have gotten spooked masayoshi son is now backed up into a corner by elliott who's demanding buybacks of $20000000000.00 so basically the biggest issue as he puts a quote i need money to return to shareholders versus i need money to invest. in the way mo the driving car service or buy alphabet announced monday that it has raised 2250000000 in his latest fund raising round that included investments by silver lake and the canada pension plan investment board anderson horowitz horowitz excuse me and the parent company alphabet this is the company's 1st external investment why it was looking to lead the way in the thomas vehicle technology that includes a ton of us delivery and trucking in january way more announce that it would begin mapping and eventu

. >> we often talk about soft bank's $100 vision fund but rarely hear from the man that runs it.t spoke with him after a rough few months alex joins us now to talk about it. >> hey, andrew. >> what happened >> so it was sort of a defense of the vision fund of himself. the main takeaway is almost a theoretical defense. >> head of the vision fund. >> he works for the head of soft bank ceo of soft bank this is a 14 year fund that most of the investments you stick around with for 6 to 8 years the fund itself, the way that we invest, the mistakes will wash out first. that was his argument. the implosions will happen immediately. whether it's the founder or the business model, the reporting around we work which is the biggest implosion and he said look in any fund, 10 or 15 of these companies are going to wobble that's where we're going to see our bread and butter investments and start to make a real return for the fund that's his argument and his defense. now obviously there's a lot of acro economic positions that can effect them. >> they had a note out to its funds and it's companies

you have to act to shore up the balance sheet, to strengthen soft bank's balance sheet.g he's raising money it's likely to come at the cost of grander ambitions to be the warren buffet of technology. take his alibaba stake he resisted the idea of selling part of it now as the selling parts of it, but now the group is pledging to raise $40 billion through asset sales, masa son is on the table that does seem to have attracted investors. shares of softbank were up 12% overnight. but in the long-term, where does that leave masa son and his 300-year vision. before the latest events, softbank was having trouble raising money for a second vision fund so he can continue to invest in start-ups >> it's such a unique hit, the fact that he has unique exposure to co-working and ridesharing during a pandemic. it's just the least ideal portfolio that you could have. you could say, well, uber and lyft will bounce back once people get more confidence but could something like wework get less attractive permanently here, or maybe more so people go, maybe i can do some sort of work share an

. >> soft bank and kddi known for its au brand also began their 5g services. rakuten aims to follow in june. access will initially be limited to parts of major centers including tokyo, osaka and sapporo. coverage is expected to reach all japanese prefectures by march 2021. >>> congressional republicans and democrats have agreed on an unprecedent unprecedented stimulus deal to deal with the pandemic. it includes unemployment benefits and financial support for small and medium-sized businesses. >> at last we have a deal. after days of intense discussion, the senate has reached a bipartisan agrgreemen on a historic relief package for this pandemic. >> we have a bipartisann agreement on the largest rescue package in american history. this is not a moment of celebration but one of necessity. >> the total cost of the bill dwarfs the emergency measures taken amid the 2008 financial crisis. members of the house of representatives are expected to vote on the agreement as early as wednesday. >>> now an index of business sentiment in the eurozone and uk plunged to a reco

soft bank reportedly backing out of part of its bailout of wework.he report says soft bank sent and e-mail to wework investors saying it would not buy 3 billion in shares. 970 million of that was stock held by the former ceo, adam newman. the trump administration is hitting back at china amid the coronavirus outbreak after china revoked the press credentials for three u.s. journalists from the new york times, washington post and wall street journal. the national security council said the move is depriving the chinese people and the world of access to true information about china. china has been at a p propaganda war with the u.s. over who is to blame for the spread of the virus. a silent seeker or those who -- asylum seekers or those who crossed the southern border illegally could be turned away. a dhs spokesperson tells fox news the president is committed to protecting americans and all options are on the table. and finally, four players from the brooklyn nets have coronavirus including star forward kevin durant who tells the sports website the athl

soft bank says it will soft misunderstanding among investors. it's asking moody's to remove all bond ratings on the group. >>> postponing the tokyo olympics comes with a price tag. one expert saves mays many busi will suffer, but there is a silver lining. >> reporter: this is executive chief economist at daiichi life research institute. he says about 80% of the economic benefits of the games have already happened. >> translator: if the tokyo games took place this year, they wouldn't have drawn many spectators, so holding them next year will indeed have a bigger effect. the economic benefits of the olympics notice year they're held usually push up gdp about 0.3% or roughly $15 billion. but this iso only a postponemen. there will be no olympics-related demand this year but it will likely be reflected in next year's gdp. i think that demand will be postponed. >> reporter: nog hama believes that a delay until summer 2021 will not seriously hurt the economy. >> translator: holding the games in summer isn't a bad idea. it's a season that draws foreign

vision is actually taking shape start up as well financed thanks to a generous investment from japan soft bank and tata power india's biggest electricity provider has ordered the tower. the one hears a prototype and has yet to prove that the idea really works. because although the concept sounds simple it's quite complicated to put into practice. it is the intelligence software that controls the brain autonomously it has to grasp the concrete blocks and reposition them without vibration and without any human involvement. once completed this small scale prototype will have the chance to prove itself as a future technology for energy storage. making the switch to renewables is a project that will be with us for years to come. but at the moment most headlines are about the new coronavirus in late 2019 a hitherto unknown corona virus strain appeared in the city of wool hand in china it soon spread to other countries again and again virus outbreaks threaten the health of communities and pressure researchers to develop vaccines. that's the case with many pathogens. here's a little a.b.c. about virus

that is soft bank more than 6% lower. shanghai composite, all eyes on the chinese major getting hit a little bit as well down about 40 points down relatively better than the shanghai composite still trading in negative territory. all of this yielding to a negative start let me take you to what the european markets are doing as well uk is down also a very, very negative day for the airline industry iag trading down 5%. lufthansa in the german dax trading down 5%. on the cac also trading down 5%. adding to that autos are coming under significant selling pressure this is what you get, negative indices for the week >> live with the latest on the global market round up as we speak, you can see in that red box, the dow is indicated to open down about 550 points this does represent the session lows all as the benchmark yield continues to move lower over the past few hours currently yielding about 74 basis points or.74% off the session lows we did hit historic lows for more now, i'm joined by citibank strategist. i don't even kno

on tuesday reported that elliot management was coming for muscle yoshi's on a soft bank and now it seems like the most feared investor has got his sights set on jack dorsey c.e.o. of twitter now jack dorsey founded twitter and was the 1st c.e.o. he was then booted out for spending too much time doing yoga and attending fashion design classes but then in 2015 he returned to lead twitter once again as no one understood the vision of the company as well as he did however under his leadership twitter's stock price is down 6.2 percent meanwhile its biggest comp base book is up 121 percent in the same time period elliott management who has a 4 percent stake in twitter is obviously not happy with the stock performance and has now put in 4 nominees to the company's board with the goal of replacing dorsey elliott claims that dorsey only devotes part of his attention to twitter as he also runs payment company square in which he has a larger financial interest twitter has also failed to innovate in recent years with the user base turning and burning elliott management led by paul singer is known as

fast-paced drumming ] [ fast-paced drumming ] >>> welcome back time for the executive recap you need soft bank with u.s. investors yesterday in what some are calling a charm offensive. he's coming under fire from the hedge fund calling for softbank to make changes including buying back $20 million worth of stock. he told investors he'll be more careful with hi behavior >> elon musk endorses jack dorsey to remain ceo of twitter. we'll watch that >> robin hood experienced a shut down causing many to miss out on trades traders feeling a little bit of the sting. back to the markets, coming off the biggest one-day point gain in history historically stocks that got hit would come back the most bouncing back the least in trading. carrie, does it worry you that some of the hardest hits are not bouncing back as strongly as others >> it doesn't worry me that is the most important thing to feel comfortable. if you look at the worst performing names you are going to see today travel and energy related stocks it is not who is first but whether they get there the s&p, if it broadens will be a good sign toda

soft bank backing out of part of the planned bailout of wework. investors saying it may not buy $3 billion of the company's shares, nearly $1 billion is stock held by former ceo adam newman. it's not expected to affect the lifeline they agreed to give to wework. hearts in boston are breaking this morning, legendary quarterback tom brady announced yesterday he is parting ways with the team of 20 years, now it's being reported he will sign with the tampa bay buccaneers. the yet to be announced deal is rumored to be worth $30 million a year. neither side has confirmed that. and finally, maria, social distancing and netflix, introducing netflix party, an extension made for the google chrome browser so you can have netflix parties with your friends virtually. there's a chat room so everyone in the group can react together. it's been available for years but it recently became popular because of the virus outbreak, maria. if you and dagen want to have a netflix party, you let me know, i'm available. maria: absolutely. and how great are the american peopl

. >> and soft bank, too? >> softbank with the buyback, potentially. that's what we typically talk about here, an activist campaign by elliott, trying to get them to do that doesn't team the most opportune time to be spending cash in a buyback. >> stinl sometimes -- i don't wt them to paint the tape, so to speak. i would love to see bob iger buy stock in bdisney >> he's only executive chairman now. >> i'll take anybody i'll take mickey mouse at this point. you ever try to interview mickey mouse? >> tough interview >> it was -- it was easier to interview the president. >> that's a tough interview. >> jim, when mnuchin said this is not '87, that was scarier i was reminded -- i was young report er then. this is different. this is -- this is not just a financial economic issue this is a health crisis. >> it's health, it's financial >> it's a weird combination where you're focused on one thing, then the other. the impact from one on the other. it's very difficult to know how to navigate. >> you're absolutely right i spoke to my kids yesterday i have a 28-ye

some soft exchanges quarterback games but not wall street despite central bank leeching trillions in stimulus millions face job losses the growth of viruses takes its toll. the world economic forum urges companies to work with governments to solve this crisis. and trade fairs go virtual to beat the outbreak but leave carpenters and caterers high and dry. and invisible and let's do business the last time this happened was the 2nd world war but instead of producing weapons car makers electronics textile factories are switching their production lines for the common good french luxury group which earns you a real toll and christiane to your is ditching perf you for hand sanitizers italian textiles firm mean old leo is supplying the state without a face masks smaller companies in italy are following its lead and us all the manufacturers are looking at making medical equipment like ventilators which are also in short supply but retooling production lines is complex and costly for well there's hope with all the stimulus announced european equities pushed higher friday u.s. stocks fell with

softness in today's session. the fed is extending to nine more central banks and news around the california lockdown is putting pressuren the dollar. how concerned are you about the funding squeeze we see? a i think the dollar is greater barometer of stresses and strains in cross-border finance. that was the case with the original credit crisis in the u.s.. we actually saw the dollar strengthened when the crisis happened. we won't know for several weeks who is really being squeezed, but that spike in the dollar we saw is a clear tell that there are great strains on that system. i think the new lines that have been put in place, the injections of liquidity, things seem to have calmed down, but i would regard the dollar as a barometer of, is the financial system functioning smoothly, and are the wheels continuing to move as the authorities would want? .his is not a financial it is an unusual, extraordinary biological threat. of central banks and the financial system is to at least continue to function smoothly so it can continue to provide liquidity to the real economy. garage -- raj stays with us for the hour. has overt

bank in the event. the rate of money after he's after her speech or. soft exchange in milan had the war lost in the history of the italian stock exchange so we are grateful to russia but fortunately the european union is not how think. your opinion is bowed down itself look at germany look at britain britain's not in the european union no of course but you know everyone's looking out for themselves at the moment they're saying look we need these ventilators we need these months we have got enough to give even a daily love fellow neighbor. was this only to be expected all you're saying you expect to be a very different way when you but it's going to the whole areas european countries are you still expecting them to help you to do. yes we have to remember that italy is the 3rd country that european union e-coli phone this is the european union after germany and france we are the service economy in the european union so we are a very important country the european union everything though he spent a lot of money to the european union and in this situation we hi

aware of and had the opportunity to stop money laundering with deutsche bank going back 15 years on multiple occasions a very softslap on the wrist with that approach now we know it didn't work now there is a scene in the book by fed officials are angry about wandering tens of millions of dollars and they are expecting based on the angry tone of these regulators but instead they get a penalty of zero. >>. >> maybe my question is more of clarification but over ten or 20 years deutsche bank had lent trump or the family more generally $2 billion and somehow that 350 million how much of a difference between those two figures can you track from businesses that were financed? >> profits for trump or deutsche bank? >> he has to pay back the loans haven't been profitable for him they enable for him to do things one of the things about him that they were so desperate to do business even after they defaulted they were charging a ridiculously low interest rate the any of us would not do in a million years 2 percent to 100 million-dollar loan for example. so that in itself because even though he pays interest on the loan it

years and took a very soft rich and penalty you better not do it again approach which now we know did not work but even at the time there is a scene in the book where deutsche bank gets the compliance for those about laundering tens of millions of dollars for both the russians and expect by the angry told that they will get penalty. and then to have the effect that you think it would. >> maybe this is nerdy and i need more clarification and then to but $2 billion but how much of the difference because as those that were financed. >> profits for trump or deutsche bank? >> the loans have not been profitable they allow him to do things that are profitable but because deutsche bank was so desperate to do business with anyone and then charging ridiculously interest rates that we cannot get 1 million years like to percent on $100 million which is fabulous. so that in a sense is to leave profitable it is still much cheaper everywhere else. and for those for the income at much higher than 2 percent. that despite his faults and record so it is not as if deutsche bank lost money on this relationship they were charging him huge fees also from other services whether managin

soft lead the problems that they were they were looking over it but in this business that is north korean regulatory and direct it really caused. many are asking why the government didn't notice u.s. banks massive growth of the economy was suffering a significant slowdown yes bank rescue comes at a bad time for india's economy which is growing at its lowest pace in over 6 years the government is now investigating why the take all the had to happen the financial analysts say on this the entire sector is reformed a just 3rd biggest economy could deteriorate further elizabeth problem al jazeera new delhi. just ahead in the sport of our successful quarterback of the n.f.l. plans his next move joe here with. we're going to have to support his job adrian thank you well a member of the international olympic committee has broken ranks saying it would be insensitive and irresponsible to hold the toll here lympics amid the cumber coronavirus pandemic a plane set off from japan on wednesday bound for greece to collect the olympic flame no 2020 delegates were on board because of infection phase nevertheless the i.o.c. tokyo organizes and the japanese government all keep insisting the games will go

soft lead the problems that there were they were looking over it but in this business that is north korean regulatory and direct it really caused. many of asking why the government didn't notice us banks massive growth of the economy was suffering a significant slowdown yes bank rescue comes at a bad time for india's economy which is growing at its slowest pace in the 6 years the government is now investigating why this take all the had to happen the financial analysts say on this the entire sector as the formed a just 3rd biggest economy could deteriorate further elizabeth. new delhi. still ahead in all this era after euro 2020 years postponed next year the world is watching to see if the olympics will go ahead. you know 2020 is said to become euro 2021 because of coronavirus the football championship is being postponed for a year the latest big sporting event to be affected there's been a strong call to push the tournament back from june and july it came after days of talks of the governing body away for its headquarters in switzerland rather than being held in a single country it was due to be played in 12 different european nations we should now think about the health of the fans

bank has intervened to rescue the with our bad loans. have plagued our economy our financial system the last 5 years. had been hoping for a snort train wreck you know they wanted a soft lead the problems that they were they were looking over but in this business that is not. a trainwreck of the plan direct it will cause damage. many are asking why the government didn't notice us banks massive the economy was suffering a significant slowdown yes bank rescue comes at a bad time for india's economy which is growing at its lowest pace in over 6 years the government is now investigating why the take all the had to happen the financial analysts say on this the entire. 3rd biggest economy could deteriorate further elizabeth. it's 30 years since 2 burglars in boston carried out what's being called the heist of the century 13 rare works was stolen now they include several by the dutch musta rembrandt which have been seen since jordan uncovers the mystery at the isabella stewart gardner museum in boston a 30 year old mystery still brings pain and questions who bluffed their way into the museum tied up the guards and made off with 13 rare paintings drawings and objects where th

banks. in indonesia, they will continue to intervene to ensure confidence. in malaysia, lowering the reserve requirement by 100 basis points. and china delivering testing kits among equipment across europe in an exercise of soft power and a new challenge to the u.s. planes have delivered to several countries with jack ma picking up most of the bill. this comes amid pressure on washington -- from washington to shun companies like huawei. prime minister shinzo abe in been meeting with business leaders in japan to come up with a rescue plan. they are fearful about the tokyo olympics being delayed. economists say they could see the longest contraction since the financial crisis. and europe and of u.s. are beginning to see factory shutdowns not seen since world war ii. the fallout is shifting from service industries like travel and hospitality to manufacturing on both sides of the atlantic. companies are idling plans as china did at the start of the crisis, adding to the pressure on global supply chains. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. shery: let's bring in an investor who has her eyes on