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Thread: Trump says SoftBank will invest $50 billion in the US, aiming to create 50,000 jobs

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  1. #1
    Senior Member Judy's Avatar
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    Trump says SoftBank will invest $50 billion in the US, aiming to create 50,000 jobs

    Trump says SoftBank will invest $50 billion in the US, aiming to create 50,000 jobs

    Jacob Pramuk|Anita Balakrishnan
    52 Mins AgoCNBC.com

    Donald Trump said on Monday that Japan's SoftBank agreed to invest $50 billion in the U.S., aiming to create 50,000 jobs.

    He announced the deal after meeting with SoftBank CEO Masayoshi Son, a Japanese billionaire and technology investor, at Trump Tower in New York. On Twitter, Trump claimed that Son said he "would never do this" if Trump had not won the presidential election.

    The $50 billion will come from a $100 billion investment fund set up with Saudi Arabia, according to Dow Jones.

    SoftBank owns about 80 percent of telecom company Sprint and bought British chipmaker ARM Holdings earlier this year. Son told reporters in New York that he arranged the meeting with Trump and likes him "very much."

    The pair did not give details on what specific investments SoftBank would make, though Son suggested SoftBank would target the technology sector.

    Sprint and T-Mobile shares popped after the announcement. Son has previously expressed interest in combining the companies. Sprint last traded about 5 percent higher, while T-Mobile traded about 3 percent higher.

    The paperwork from Trump's meeting with Softbank also featured the logo of Foxconn, also known as Hon Hai, a supplier for Apple's iPhones, Son noted. It was unclear what role the company would play in the deal.

    Trump said after the election he told Apple CEO Tim Cook that he hopes Apple will "build a big plant in the United States, or many big plants in the United States."

    "I do believe that some manufacturing may come back to the United States, primarily because of the fact that president-elect Donald Trump is going to twist Apple's arm," Colin Gillis, an analyst at BGC Partners, told CNBC's "Power Lunch" on Tuesday. "And there's been reports that Foxconn is reviewing being able to assemble plants, and it would be a good thing."

    Still, when sitting President Barack Obama tried in 2012 to pressure Apple into moving manufacturing jobs back to the U.S, co-founder Steve Jobs told Obama "those jobs aren't coming back," according to The New York Times.

    "I do think the reality is, it would only be a sliver, a percentage of the phones that were made that were assembled in the United States," Gillis said. "We're talking, some de minimis amount merely to try to check the box."

    CNBC has reached out to Apple and Foxconn for comment.

    http://www.cnbc.com/2016/12/06/trump...0000-jobs.html
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  2. #2
    Super Moderator GeorgiaPeach's Avatar
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    Good news, Judy. Just heard Donald Trump announcing this. 50,000 more jobs, Making America Great Again.
    Judy likes this.
    Jeremiah 29:11 - It is written, "For I know the plans I have for you, declares the Lord, plans to prosper you and not to harm you, plans to give you hope and a future."

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    Senior Member JohnDoe2's Avatar
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    Judy likes this.
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  4. #4
    Senior Member Judy's Avatar
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    It's going to be like this folks. Americans are back in charge of our country, so much so, that here come the Japanese to invest in our country, after just one meeting with the Prime Minister of Japan, who flew to New York to see our new President and meet his daughter, Ivanka and her husband, Jared Kushner. Then less than 2 weeks later, Mr. Masa flies to New York to announce his company's decision to invest $50 billion in the United States with the goal of creating 50,000 new jobs for Americans th rough new start-ups.

    Thank you Japan. Thank you very very much.

    Like I said folks, get ready, this is going to happen fast. Hold on to your seats.

    I'm absolutely in love with this "crony capitalism", when our new President is "picking winners and losers" with his "state interventionism."

    Like Trump said in his Rally Speeches, you're going to win so much that you'll call me up and say "Mr. President, we're tired of winning" and he'll say "I don't care, you're going to keep winning and winning and winning."

    Yep, Donald J Trump is picking winners alright, and it's the people of the United States.

    Thank you Donald J Trump and Mr. Masa for this fabulous news.

    Last edited by Judy; 12-06-2016 at 04:38 PM.
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    Senior Member Beezer's Avatar
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    Quote Originally Posted by Judy View Post
    It's going to be like this folks. Americans are back in charge of our country, so much so, that here come the Japanese to invest in our country, after just one meeting with the Prime Minister of Japan, who flew to New York to see our new President and meet his daughter, Ivanka and her husband, Jared Kushner. Then less than 2 weeks later, Mr. Masa flies to New York to announce his company's decision to invest $50 billion in the United States with the goal of creating 50,000 new jobs for Americans th rough new start-ups.

    Thank you Japan. Thank you very very much.

    Like I said folks, get ready, this is going to happen fast. Hold on to your seats.

    I'm absolutely in love with this "crony capitalism", when our new President is "picking winners and losers" with his "state interventionism."

    Like Trump said in his Rally Speeches, you're going to win so much that you'll call me up and say "Mr. President, we're tired of winning" and he'll say "I don't care, you're going to keep winning and winning and winning."

    Yep, Donald J Trump is picking winners alright, and it's the people of the United States.

    Thank you Donald J Trump and Mr. Masa for this fabulous news.


    Will they be only hiring American workers? No back door foreign worker deals like TPP...Obama tried to pull the wool over our eyes on that one?
    MW and nntrixie like this.
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    Senior Member JohnDoe2's Avatar
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    Softbank = China

    Softbank is a Japanese company best known for owning Yahoo Japan and Sprint.

    With their background in telecommunications and the internet, why would they want to buy a major semiconductor company? And why, with $89B in debt, is Softbank adding another $31B?


    The answer: Softbank is not what they appear. What isn't as well known is that Softbank is actually a major player in China's internet economy.

    For starters, they bankrolled Alibaba. They control 32% of Alibaba, and through Alibaba, they dominate the Chinese internet economy because Alibaba has invested in the top internet companies in China: Weibo, for example.

    Although based in Japan, Softbank is very much a Chinese company.

    The fact remains that, despite the $10B budget, China has yet to land any major companies.


    Perhaps Softbank on its own is front-running a bigger China budget.


    Or perhaps Softbank was tapped to be the buyer, but not the ultimate buyer. After all, who is lending them to $31B to close the deal? And Softbank will earn a lot of political credits for doing a favor for the


    Chinese government effort to ramp-up a semiconductor company.

    Don't be surprised if we see an announcement in a year or two that ARMH is up for sale and the buyer is a major Chinese company.

    This was a brilliant move.

    http://www.zerohedge.com/news/2016-0...-company-world
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  8. #8
    Senior Member Judy's Avatar
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    They won't be hiring. These are investments to be made in new American start-ups. Americans will own their own businesses and hire whoever they want, as capitalists SoftBank will be providing the capital the new business needs either through loans, as shareholders or partners, the lenders/investors wouldn't be involved in operations only making a return on their investment and/or having their loans paid-off.

    Apparently this $50 billion is from a fund of $100 billion that is set-up with Softbank and Saudi Arabia. In industrial development, we call this "reverse investment", it's when foreign countries invest in manufacturing enterprises in the United States.

    Wait until Congress gets Trump's tax plan through and all our US money now off-shored comes rolling home where it belongs. Trump says "they say it's $2 to $3 trillion" but most of US think it's a lot more than that, I've read where it could be as much as $13 trillion.
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    Senior Member JohnDoe2's Avatar
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    August 20, 2015 Top Stories No comments

    What’s Behind Japanese Life Insurers Acquiring U.S. Companies?

    By Cyril Tuohy

    Recent billion-dollar acquisitions of U.S. life carriers by large Japanese life insurers don’t necessarily mark the beginning of a trend, as very few Japanese insurers are large enough to execute such transactions, an analyst said.

    With three of the four largest Japanese insurers having announced U.S. acquisitions in the past year, the Japanese giants are likely to pause to digest and integrate their new purchases instead of going out and buying more, Morgan Stanley analyst Nigel Dally said.


    “What has been especially of interest to investors have been the substantial premiums the Japanese insurers have paid — in the past three transactions, the transaction price was a 36 percent premium on average to where the stocks were trading prior to the announcement,” Dally said in a note to investors this week.


    On Aug. 11, the Japanese life insurance giant Sumitomo Life announced it would buy Symetra Financial, the former life insurance business of Safeco, in a deal valued at $3.7 billion.


    The Symetra Financial transaction followed on the heels of the July 23 announcement that Meiji Yasuda Life Insurance would buy StanCorp Financial Group in a deal valued at $5 billion.


    Last June, Dai-ichi Life Insurance announced it would buy Protective Life as part of a deal valued at $5.5 billion.


    In a Japan-only transaction consummated last July, The Hartford announced the completion of the sale of its Japanese annuity subsidiary to ORIX Life Insurance.


    On the property/casualty side, three other insurance deals between Japanese buyers and foreign target companies have been announced since the beginning of 2014.


    Analysts say the Japanese moves into the U.S. are no surprise as Japanese life insurance companies look to growth by tapping into the world’s largest insurance market.


    China’s slowing economy has led to a broad market selloff in recent days and, in the U.S., the Federal Reserve appears to be close to raising benchmark lending rates. Rising interest rates make life and annuity products more attractive to policyholders and also mean insurance carriers earn more on their fixed-income investments.


    “What can they do with their excess capital in Japan? Not a whole lot except invest it a very low interest rates,” Steven Schwartz, an insurance industry analyst with Raymond James, told BloombergBusiness last week.


    Tougher regulatory challenges cause insurers to develop less capital intensive and market sensitive products. In addition, lower expected margins in some lines also may factor into the decision to consolidate, according to a 2014 report published by A.M. Best.


    Whatever the cause for the forays of Japanese insurers abroad, the average insurance deal size is on the rise.


    For global life and health insurers, the average deal size was approximately $753 million in the first half of last year, compared with $654 million in 2013, and $357 million in 2012, according to data compiled by Best.


    With the exception of Nippon Life, which has more in excess capital than any other Japanese insurer, Dally doesn’t see many foreign insurers coming into the U.S. market.


    SONY Life in Japan has said it prefers to grow domestically and Samsung Life in Korea seems to favor asset managers over insurers, Dally said in his investor note.


    European life insurers are consumed with regulatory constraints, and Canadian insurers have shown more appetite in asset management companies and group insurers over variable annuities and long-term care, Dally also said.


    “The consensus view appears to be that there is a broad variety of foreign insurers lining up to make countless additional acquisitions in the U.S. market,” Dally writes in the investor note published Aug. 19.

    “In our view, this is an overly simplistic view.”


    Torchmark and Unum are seen as too large for a Japanese suitor who might be put off in any case by some of the long-term care liabilities on those companies’ books.


    Other than Nippon Life, Japanese insurers would be limited to smaller deals than those announced recently. Dally said a “consolidation premium” on U.S. life insurance company stock might be appropriate for CNO Financial Group in Carmel, Ind.


    In recent years, CNO Financial management has taken steps to stabilize the company which serves middle-market pre-retirees and retirees through subsidiaries Bankers Life, Colonial Penn Life and Washington National.


    Dally also said Principal Financial Group might eventually be of interest to Nippon Life, which has signaled its intent to pursue acquisition. Nippon already owns 6.1 percent of Principal Financial.


    But Dally also said that in a recent conference call Principal Financial executives downplayed Nippon Life’s small stake as Nippon Life is more interested in group life insurance and annuity products, medical care and long-term care insurance.

    http://insurancenewsnet.com/innartic...-u-s-companies

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    Senior Member JohnDoe2's Avatar
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    SoftBank already owns 80% of Sprint Corp., Virgin Mobile, payLo and Assurance Wireless.


    Sprint, meanwhile, is majority-owned by SoftBank, the Japanese group controlled by the billionaire Masayoshi Son. Mr. Son, known as Masa, an entrepreneur who has already reshaped Japan's wireless industry, has made no secret of his ambitions to do the same thing in the United States. Jun 4, 2014


    Sprint Corporation - Wikipedia

    https://en.wikipedia.org/wiki/Sprint_Corporation
    Virgin Mobile USA, L.P. is a wholly owned subsidiary of Sprint Corporation which provides nationwide, prepaid wireless voice, messaging, and broadband data products and services to customers in the continental United States under the Virgin Mobile, payLo, and "Assurance Wireless Brought to You by Virgin Mobile" brands.

    Number of employees‎: ‎30,000 (Q1 2016)


    Parent‎: ‎SoftBank Group Corp.
    (80%)

    Operating income‎: ‎US$310 million (2016)

    Net income
    ‎: ‎US$-1.99 billion (2016)

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