News Snapshot:
T he world’s largest tech fund has axed 150 jobs in a bid to cut costs as it deals with the fallout from the plummeting value of its investments. The SoftBank Vision fund, run by Japanese billionaire Masayoshi Son, is set to send notices out to employees in the UK, US and China, affecting around 30% of the workforce, according to the Reuters news agency. It comes just weeks after the firm posted a staggering $23 billion (£19 billion) net loss, the largest in the company’s history as it became the latest victim of surging inflation and global recession fears....
