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World coronavirus dispatch: Loss of wealth and challenge for stock analysts

From impairment of Softbank's Vision Fund, to 70 Covid-19 vaccines that are under trial, and what the crisis may mean for Donald Trump's re-election bid - read these and more in today's world dispatch

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Coronavirus | USA | Turkey

Yuvraj Malik  |  New Delhi 



airports, airport, coronavirus, gmr group

Boldest investor hit hardest by biggest calamity: Softbank, the firm behind the $100-billion Vision Fund, has said its investment vehicle has suffered a $16.7-billion loss due to the “deteriorating market environment”. This is due to impairment of the value of its investments. Softbank’s misfortunes are not entirely on account of the pandemic, which has choked economies globally, but also due to its chief executive Masayoshi Son’s flamboyant investing style. The failure of two of its star companies — office-sharing start-up WeWork, which came back from the brink of a collapse, and OneWeb, the futuristic satellite company that filed for bankruptcy — has led to the Vision Fund’s impairments. Read more here.

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First Published: Tue, April 14 2020. 06:34 IST

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