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TECHNOLOGY NEWS | Wed Dec 7, 2016
SoftBank's Son pledges $50 billion, Foxconn eyes U.S. expansion as Trump woos Asian firms
Two of Asia's biggest technology companies said they were looking to expand investment in the United States, as President-elect Donald Trump pushes to bring manufacturing and jobs back home.
Billionaire businessman Masayoshi Son, also the head of Japan's SoftBank Group Corp (9984.T), pledged a $50 billion investment in the United States, and Apple Inc (AAPL.O) supplier Foxconn said it was in preliminary discussions to expand its U.S. operations.
Son said on Tuesday, after meeting Trump, his investment would create 50,000 new jobs, a move the U.S. President-elect claimed was a direct result of his election win.
[...]
The $50 billion investment, announced jointly by Trump and Son in the lobby of the Trump Tower in Manhattan, would come from the $100 billion tech investment fund the head of SoftBank is setting up with Saudi Arabia’s sovereign-wealth fund and other potential partners, according to the Wall Street Journal.
"Ladies and gentlemen, this is Masa from SoftBank of Japan, and he’s just agreed to invest $50 billion in the United States and 50,000 jobs," Trump said.
"He would never do this had we (Trump) not won the election!" Trump later Tweeted.
[...]
[Son] also said he expected a lot of "deregulation" under a Trump administration.
Trump and Son did not give a timeline for the investment. Trump's four-year term will begin after his Jan. 20 inauguration.
Son's business partner Foxconn issued a brief statement after a report by broadcaster CNBC showing a snapshot of a page held by Son outlining the investment carrying the logos of SoftBank and the Taiwanese firm, formally known as Hon Hai Precision Industry Co (2317.TW).
The page also showed an additional $7 billion investment and creation of a further 50,000 jobs. (cnb.cx/2he38VQ)
[...]
http://www.reuters.com/article/us-us...-idUSKBN13V2LG
SoftBank's Son pledges $50 billion, Foxconn eyes U.S. expansion as Trump woos Asian firms
Two of Asia's biggest technology companies said they were looking to expand investment in the United States, as President-elect Donald Trump pushes to bring manufacturing and jobs back home.
Billionaire businessman Masayoshi Son, also the head of Japan's SoftBank Group Corp (9984.T), pledged a $50 billion investment in the United States, and Apple Inc (AAPL.O) supplier Foxconn said it was in preliminary discussions to expand its U.S. operations.
Son said on Tuesday, after meeting Trump, his investment would create 50,000 new jobs, a move the U.S. President-elect claimed was a direct result of his election win.
[...]
The $50 billion investment, announced jointly by Trump and Son in the lobby of the Trump Tower in Manhattan, would come from the $100 billion tech investment fund the head of SoftBank is setting up with Saudi Arabia’s sovereign-wealth fund and other potential partners, according to the Wall Street Journal.
"Ladies and gentlemen, this is Masa from SoftBank of Japan, and he’s just agreed to invest $50 billion in the United States and 50,000 jobs," Trump said.
"He would never do this had we (Trump) not won the election!" Trump later Tweeted.
[...]
[Son] also said he expected a lot of "deregulation" under a Trump administration.
Trump and Son did not give a timeline for the investment. Trump's four-year term will begin after his Jan. 20 inauguration.
Son's business partner Foxconn issued a brief statement after a report by broadcaster CNBC showing a snapshot of a page held by Son outlining the investment carrying the logos of SoftBank and the Taiwanese firm, formally known as Hon Hai Precision Industry Co (2317.TW).
The page also showed an additional $7 billion investment and creation of a further 50,000 jobs. (cnb.cx/2he38VQ)
[...]
http://www.reuters.com/article/us-us...-idUSKBN13V2LG
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