SOFTBANK HAS ITS EYES ON UBER, LYFT
TOKYO» SoftBank Group Corp. CEO Masayoshi Son expressed eagerness to invest in Uber Technologies or Lyft to gain access to the U.S. ride-hailing market after similar investments in Asia.
“We are interested in discussing with Uber. We are also interested in discussing with Lyft,” the SoftBank leader said Monday during a news conference, adding that he wasn’t sure what form an investment would take. “The U.S. is a very big market, the most important market, so we are definitely very much interested.”
Son, founder and head of the Japanese technology and telecommunications group, has stepped up his already frenetic dealmaking pace as he approaches his 60th birthday this week.
He said he was close to a deal involving SoftBank-controlled U.S. wireless operator Sprint Corp. that would trigger consolidation in the U.S. telecom industry.
Iran has deal with Renault. TEHRAN» Iran signed its biggest car deal to build tens of thousands of cars annually under a joint venture with French automobile manufacturer Groupe Renault, buoying its manufacturing industry in defiance of the Trump administration’s moves to isolate the country.
The $778 million deal follows the lifting of the U.N. and European Union sanctions after Iran’s 2015 nuclear agreement with world powers to curb its controversial uranium enrichment program, a possible pathway to nuclear weapons.
It came just days after new U.S. sanctions on Iran were signed by President Donald Trump, who spoke with French President Emmanuel Macron over the weekend about ways to counter Iran’s influence in Mideast conflicts.
The U.S. legislation, first passed by Congress, imposes penalties on people involved in Iran’s ballistic missile program and anyone who does business with them.
Interio repeals coal royalties rule. WASHINGTON» The Interior Department scrapped an Obamaera rule on coal royalties that mining companies had criticized as burdensome and costly.
The Trump administration put the royalty valuation rule on hold in February after mining companies challenged it in federal court. Officials later announced plans to repeal the rule entirely.
The final repeal notice was published Monday in the Federal Register and takes effect Sept. 6.