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Softbank shares soar on US $50-bn investment pledge

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By Euronews
Softbank shares soar on US $50-bn investment pledge

<p>Shares have soared in Softbank, one of Asia’s biggest technology firms, after it pledged to invest $50 billion (€46bn) into the United States.</p> <p>It follows talks between US President-elect Donald Trump and Softbank’s billionaire owner Masayoshi Son. Shares in SoftBank jumped 6.2 percent on Wednesday in Tokyo to their highest since August last year.</p> <p>After their meeting the Japanese group said the investment would create 50,000 new jobs, a move Trump claimed was a direct result of his election win.</p> <p>The $50 billion investment, announced jointly by Trump and Son in the lobby of the Trump Tower in Manhattan, would come from the $100 billion tech investment fund the head of SoftBank is setting up with Saudi Arabia’s sovereign-wealth fund and other potential partners, according to the Wall Street Journal.</p>