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The Independent UK

National

Via AP news wire

Japan tech giant SoftBank posts $23 billion quarterly loss

SoftBank SoftBank Group Inflation Interest Rates

Copyright 2022 The Associated Press. All rights reserved

Japanese technology company SoftBank Group posted a $23.4 billion loss in the April-June quarter as the value of its investments sank amid global worries about inflation and interest rates.

SoftBank Group Corp.’s loss of 3.16 trillion yen was a reversal from its 762 billion yen profit in the same quarter a year earlier.

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