SoftBank and Uber; Carmakers under pressure; GM earnings - Honolulu, Hawaii news, sports & weather
The Japanese company said Wednesday that its operating profit increased 60% in the final quarter of 2018 to 438 billion yen ($4 billion), thanks to gains in the value of its tech fund. The Saudi-backed SoftBank Vision Fund has pumped more than $45 billion into tech companies around the world and has more than $50 billion still to spend. Investments in Uber and WeWork accounted for a big chunk of SoftBank's income surge. But the company lost money on Nvidia, whose shares plunged toward the end of 2018. Car makers report: Earnings from Toyota and Daimler are adding to worries over the strength of the global auto industry.