FT News Briefing SoftBank moves to sell down its stake in Alibaba
Aug 4, 2022
SoftBank is planning to drastically reduce its stake in Alibaba, raising up to $22 billion in cash. The move comes amid financial struggles and strategic shifts in response to market conditions. Meanwhile, Iran and western powers are resuming critical talks on the nuclear deal, potentially reshaping geopolitical dynamics. On a different front, political polarization is infiltrating workplaces, prompting companies to navigate employee conflicts while promoting inclusivity and sensitivity.
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SoftBank Reduces Alibaba Stake
- SoftBank is significantly reducing its stake in Alibaba, marking a shift in their 20-year relationship.
- This move is primarily driven by financial pressures due to SoftBank's recent losses and concerns about the Chinese market.
Iran Nuclear Talks Resume
- Iran and Western powers will resume nuclear talks in Vienna to revive the 2015 accord.
- Key sticking points remain, including guarantees against US withdrawal and sanctions relief for Iran.
Workplace Political Conflicts
- Encouraging employees to "bring their whole selves to work" has led to increased political conflicts in the workplace.
- Companies struggle to balance diversity and inclusion, facing challenges as employees' political views clash.