The story of Masayoshi Son’s ‘Cash Man’

A video to start: FT shows the rise and fall of Carlos Ghosn, whose industry giant has become an international refugee. New 20 minute film..

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Inside Softbank / Green Silnexus

Some of the greatest financial stories in recent years – Wire card, Green threshold When We work – Connected by a name: Softbank..

This may not come as a surprise to DD readers, but some properties of these compounds can be. Rob Smith and Arash Massoudi from DD and Stephen Morris from FT do it all. This deeply narrated story..

It starts on the phone in October 2019 Rajeev MisraThe head of SoftBank’s Vision Fund, which invested $ 1.5 billion in Greensill, noted that the group’s German banks have around 1.5 billion euros exposure to metal magnates. Sanjeb Gupta..

Lex Greensill, left, and Rajeev Misra. In 2019 Greensill Mithra tells how much the Greensill Bank was exposed to the Sanzibugupta empire © FT montage

Speak calmly during the call Lex Greensill The company that bears his name tried to reassure Misra that Gupta’s commitment to the company was zero. Only when Misura put pressure on the engagement Capital of GreensillBank daughter, Green threshold bank, The Rex revealed its appearance.

The story includes Green Sill, Softbank, Swiss credit, Gupta and WeWork Katerra..

Some highlights:

  • Lex Greensill spent weeks begging SoftBank executives, including calling up a former UK Prime Minister David Cameron Go to Tokyo to meet the CEO of the Japanese group Masayoshi Son.. My son later called Green Sill a “money guy”.

  • When WeWork’s 2019 IPO plan was in trouble, his son took Lex to Tokyo and devised a plan to borrow more than $ 3 billion to an office leasing company. “You bring Masa and Rex into the room together and you get some crazy shit,” said one person involved in the negotiations.

  • After a pandemic market turmoil in March 2020, Credit Suisse investors withdrew billions of dollars from the Greensil-linked Softbank fund Inject gently He invested more than $ 1 billion of his own money in the fund and instead received more shares in Greensil.

  • Greensil used Credit Suisse’s fund to help fund some of the Vision Fund’s weakest companies.

  • When Softbank’s portfolio company Catera had to restructure its debt, including a loan that Greensil made through the Credit Suisse fund, Softbank covered the loss the restructuring would inflict on Swiss bank funds. Sent $ 440 million to Greensil for this. But the executive later found that $ 440 million Have never done it before To the Credit Suisse fund.

  • After the collapse of Greensil, Credit Suisse’s relationship with Softbank was so cold that the Swiss bank recalled a personal loan it had given its son.

Overall, it helps explain his son’s humility at Softbank’s annual earnings announcement in May – and the incredible slides he presented below regarding Green Sill.

Bankruptcy on Monday: Two mega-margers collapse

Insurance brokers were the most turbulent day for the stock market in March 2020 Aeon When Willis Towers Watson Announcing a $ 30 billion alliance..

The S&P 500 formed a crater when it became clear that the coronavirus crisis in China had escalated in a pandemic, forcing governments around the world to take blockade measures.

The timing of the announcement likely predicted the final collapse of the deal. Aon and Willis Said on Monday They stopped the merger that would have created the largest insurance broker in the world.

Aon will pay Willis a $ 1 billion outage fee based on terms announced in March 2020 © REUTERS

Dissolution was initiated by US Department of Justice, In June Procedure to prevent pure stock trading, claims that it eliminates competition and likely leads to higher prices.

For some time we seemed to be heading for a court confrontation to resolve the issue after the parties Agreed start on November 18th For the negotiation. Instead, the company decided to avoid the withdrawn court battle.

Every CEO Gregory case On Monday, the company announced that it had reached a dead end with the Justice Department. You can see why Aon’s attorney said he was in a “wounded world” if he lost. The company has to pay Willis a billion dollar break.

Gregory Case, CEO of Aon

While we are working on the topic of collapsing transactions: The acquisition of 18 billion euros in German homeowners German living From rivals Vonovia We’ll meet Again “Dead in the Water” Quote from the latter CEO Rolf Bourgu..

Vonovia bid Offer 52 euros in cash Approved by 47.62% of Target shareholders per share in Deutsche Wohnen, under the minimum requirement of 50%.

It is the first time in five years that Deutsche Wohnen shareholders have closed a deal between the two, including a hostile offer in 2016.

That is not to say that what would have been one of the biggest deals in Europe this year cannot be revived someday.

Before the tax law was changed on July 1, Vonovia was able to acquire more than 10% of Deutsche Wohnen. This avoids stamp duty payments even if you end up buying a competitor’s assets.

Top lawyers in London invest in trading boom

Even if some mega-deals fail, M&A advisory lawyers find themselves in a phase of conflict with many other lawyers who are ahead.

The UK’s largest companies have achieved record results, paying out around £ 2 million each to equity partners. I’m Kate Beioley from FT. report..

Clifford Chance Against the background of the wave of M&A activities by private equity firms, the three months leading up to April saw us experience the highest quarter of all time. The partner confirmed that take-away wages rose an average of 9% to £ 1.85 million.

A rival in the “magic circle” of the British top company, Allen & OverlyThe “very high” M&A level and the boom in blank check firms are said to have led to a 19% increase in pre-tax profits. The equity partner bagged an average of around £ 1.9m in profit sharing. That is 17% more than in the previous year.

As a result, Allen & Overy and Clifford Chance’s equity partners received an average of around £ 2m each © Robert Evans / Alamy.

This is very different from the initial response of many law firms to a pandemic, where the affiliate distribution is reduced to support cash for fear of losing M&A activity.

I’m very busy these days so burnout is a problem. The high demand has also contributed to the fierce talent war that has forced US companies to compete with UK companies, causing salaries for newly qualified lawyers to soar by well over £ 100,000.

So far, only two of the Magic Circle companies have contacted us. All eyes are now fixed Freshfields Bruckhaus Delinger When Linklaters..

Job change

  • Joe Sullivan, Former boss Add mason, i join All Spring Global Investments, Newly renamed name Wells Fargo Asset Management, As Chief Executive Officer and Chairman, he exchanges ideas Nico Male, Remains as Senior Advisor.

  • Jones day Assumed Four new global dispute resolution attorneys at the company’s Perth office.

Smart reading

The secret of success Yves Perrier has made Amundi a leading European wealth management company through multiple successful integrations and organic growth. Perrier has some interesting advice when other money managers try to scale. Don’t rely on M&A. (((FT)

Life lottery Formerly considered a retirement plan, Tontine is now known as a storyline in popular television shows such as: Mash When The Simpsons. But since people are living longer and the pension system is underfunded, it’s not a bad idea to revive them. (((FT Rex)

Roaming trader Sam Bankman-Fried, a 29-year-old Californian who founded the crypto trading platform FTX, is part of a group of crypto nomads who started a company outside the reach of US regulators. However, US investors continue to participate. (((NOW)

News summary

SoftBank Vision Fund’s bet on Didi falls into a $ 4 billion deficit (FT)

Cryptography “has no inherent value,” but it is good to trade, says Man Group Chief. (FT)

What to expect from European banking performance (FT)

British government criticizes “hammer” approach to government reform (FT)

Fidelity International threatens climate and gender-specific austerity (FT)

Egyptian billionaire Sawiris founds a $ 1.4 billion gold mining vehicle (FT)

Digital Bank Sterling makes first acquisition for faster growth (FT)

Britain proposes in Ultras pursuit of Cobham. to intervene (FT)

Jeff Bezos is offering NASA a $ 2 billion discount on the lunar contract (FT)

Tether executives said they would face a criminal investigation into bank fraud (BBG)

Credit Suisse Rainmaker ends stab wound amid record order boom (BBG)

Thoma Bravo introduces software company Medallia for 6.4 billion US dollars (Reuters)

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Lex newsletter – Check out letters from Rex centers around the world every Wednesday and reviews of the week’s best commentary every Friday here

The story of Masayoshi Sons “Money Guy” Source link The story of Masayoshi Sons “Money Guy”

Leisure Information Roundup: Twitter thread about girl’s intercourse trafficking story now a film; Field Workplace: ‘F9’ Zooms to Mighty $70 Million Debut, Shattering Pandemic Information

The following is a summary of the latest entertainment news.

Twitter thread about the history of the sex trafficking in women now a movie

A viral one Twitter Thread about a woman’s experience of sex trafficking while traveling to. 2015 Florida was turned into a movie “Zola”. Inspired by A’Ziah “Zola” King’s 148 tweet thread and a subsequent story in Rolling Stone magazine about her experience, the drama follows Detroit Waitress and exotic dancer Zola, their customer Stefani persuades her to travel Florida for a weekend.

Box Office: ‘F9’ zooms in on mighty $ 70 million debut and breaks pandemic records

The only thing stronger than family? The box office debut of “F9”, the latest entry in Universal’s “Fast & Furious” saga. After many delays over the course of a year and a half, “F9” opened for a whopping $ 70 million from 4,179 North American venues. This is by far the biggest start for a movie in US Box office since the COVID-19 outbreak.

Sister says she’s proud of Britney Spears to speak speaking

Jamie Lynn Spears, younger sister of Britney SpearsShe said Monday she was proud of the pop superstar, who spoke about her life under her father’s supervision and supported anything that would make the singer happy. In a video posted on InstagramJamie Lynn Spears said she felt she could speak publicly about the situation now because her sister testified in court.

‘Sherlock Holmes’ returns Stories Audio books

“Sherlock Holmes” comes back to life as Stories has signed a contract with Conan Doyle Estate for new stories in audiobooks written by writer Anthony Horowitz Swedish Audiobook platform said on Monday. “Holmes,” the hero of Arthur Conan Doyle’s fictional detective stories in 1887, has a large following worldwide and has spawned several films based on the character.

(This story was not edited by Devdiscourse staff and is automatically generated from a syndicated feed.)

Model Invitational Week 1432: Flip story and run with it

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Send up to 25 entries to wapo.st/enter-invite-1432 (no capital letters in the web address). The closing date for entries is Monday, April 26th; The results will appear in print on May 16 and online on May 13.

The winner gets the Clown performance, our Style Invitational trophy. Second place receives a copy of “The Witch Demands a Retreat,” which Melissa will sign and send to you.

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The Style Conversational: The Empress’ weekly online column discusses all new competitions and results. See this week, published late afternoon on Thursday April 15th, at wapo.st/conv1432.

The podcast “You are invited”: A dozen half-hour episodes, including dishes of the Empress and the Tsar as well as tips from top losers. See bit.ly/invite-podcast.

Laughing shelves: ScrabbleGrams neologisms from week 1428

Week 1428 was the eighth episode of The Tile Invitational in which we provide a list of seven letter “racks” from the Internet ScrabbleGrams syndicated word game and ask them to create new words and phrases using five, six, or seven letters. So many losers looked at AAGHRSW and saw HAR SWAG which of course is a bunch of loser magnets, mugs, bags, disembodied clown heads, etc.

4th Place:

ACELNPU> UNCLAP: To stop applauding in embarrassment when you find it’s nobody else, look around to see who the “idiot” was. (Eric Nelkin, Silver Spring, Md.)

3rd place:

AENPRRT> REPANT: What to do immediately after succumbing to the sins of the flesh – especially if you hear a noise at the door. (Deanna Busick, Nashville)

2nd place and the podcast coffee cup “You are invited”:

CEIPRST> CREPIT: Not yet fallen apart. “Oh no, Grandma is very crepit. ‘Arrhythmia’ is just the name of their dance team. “(Frank Osen, Pasadena, California)

And the winner of the clown performance:

AAEPPRT> PAP ART: My gynecologist is so skilled that she doesn’t just take a “smear”. . . (Danielle Nowlin, Fairfax Station, Va.)

EEHMORT> MEH: Honorable mentions

AABCELN> ABC LANE: This is how you get to Sesame Street. (Bird War, Larchmont, NY)

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AABGINT> BANGIT: If you can’t decide between “damn” and “—- it”, that’s enough. (Jamie Martindale, Samut Prakan, Thailand)

AABGINT> ANTIBAG: Someone who holds 20 items from the supermarket in their hands instead of paying for the nickel. (Jeff Contompasis, Ashburn; Bill Dorner, Indianapolis; Tanja Cilia, Santa Venera, Malta)

AAEGNPT> PANGATE: A widespread scandal that grips an entire administration. (Sorry, I can’t think of an example.) (Jeff Contompasis)

AAEGNPT> NAPGATE: A leaked photo of the president nodding off at his desk will be remembered as the Biden administration’s biggest scandal. (Jamie Martindale; Bill Dorner)

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AAEGNPT> NEATGAP: The difference in order between you and your significant other. “With my ex, the void was an abyss lined with dirty socks.” (Jesse Frankovich, Lansing, Mich.)

AAEGPSS> GPaSs: The guy who insists his phone knows better than you how to get to your house. (Jonathan Jensen, Baltimore)

AAEGPSS> AGE PASS: What you give Great Aunt Erma with a sigh when she starts the cutting comments. (Lawrence McGuire, Waldorf, Md.)

AAEPPRT> PEATRAP: Like a hole, but finer. (Richard Franklin, Alexandria, VA.)

AAEPPRT> PRE-TAPA: The Big Mac You Eat Before Hitting Small Plates. (Jim Derby, Gettysburg, PA.)

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AALNSTY> ANTSY AL: Nervous Nellie’s partner. (Jeff Loren, Seattle)

AALNSTY> LA NASTY: You heard about “Boston Strong”? Well . . . (Todd DeLap, Fairfax, Va.)

AALNSTY> ANALYST: A professional who can explain why the first thing you saw on this ScrabbleGram was ANAL STY (Kate Baughman, Arlington, Virginia, a first-time offender).

ABDGINW> WINBAG: Someone who can’t stop talking about the choice that was “stolen” from them. (Lawrence McGuire)

ACELNPU> UNCLE PA: Rogue character in “Hamlet of the Ozarks”. (Mark Raffman, Reston, Va.)

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ACLOOPR> LOCO APR: What the dealership offered at its “Crazy Cinco de Mayo Sales Event !!” (Dave Silberstein, College Park, Md.)

ACLOOPR> POOL ARC: The course of your garden investment from the family novelty to the meeting point in the neighborhood to the foam-green frog breeding pond / the money pit. (Lawrence McGuire)

ADINSTT> STANDIT: The hardest part of a job: If you can’t, quit. (Ward Kay, Vienna, VA.)

AEEINTV> AIEE-TV: 24 hour horror films, bungee jumping and roller coasters. (Ken Gallant, Sequim, Wash .; Leif Picoult, Rockville, Md.)

AEGMNRT> GRAMNET: As your kids call Facebook. (Milo Sauer, Fairfax, Va .; Mark Raffman)

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AENPRRT> ENTARP: What to do if “Entomb” is not possible immediately? (Deanna Busick)

AENPRRT> PERTNAR: Almost. “I am pertnary by resigning myself to your lip.” (Jon Gearhart, Des Moines)

AENPRRT> PRATNER: Stan, to Ollie. (Tom Witte, Montgomery Village, Md.)

AOPRSTW> WAP-O’s: The hot new cereal recommended by Cardi B & Megan Thee Stallion. (Jamie Martindale)

AOPRSTW> AWSPORT: Kindergarten soccer or the puppy bowl. (Duncan Stevens, Vienna, VA.)

BELMORT> BRO-MELT: A “grilled” cheese sandwich that is heated in the “press” of an armpit. (Chris Damm, Charles Town, W.Va.)

CEOPRTT> PET ROT: An extremely fleeting novelty toy made up of googly eyes glued to a ball of garbage. (Duncan Stevens)

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DGIOPRY> DIG-PRY: A curious question that is also an insult. “So what did you pay for the interesting, um – I think that’s a wallet?” (Ellen Ryan, Rockville, Md.)

DGIOPRY> GOD-PRY: “So tell me: have you been saved?” (Roy Ashley, Washington)

DGIOPRY> PODIGY: An amazing student in a remote school who actually learned something during the pandemic. (Kevin Dopart, Washington)

DGIOPRY> GOD-RIP: Do you know how they told you as a kid that thunder is the sound of the Lord’s bowling? Well it is not. (Danielle Nowlin)

DGLNOUY> UNDOGLY: Frustratingly untrainable like a cat. (Adie Peña, Makati, Philippines)

EEHMORT> METR’OH! Abbreviation for “I knew I should have just driven to work today!” (Mark Raffman)

EEILNNT> ENLINT: What my dryer does to my socks. (George Thompson, Springfield, VA.)

EFHIRSY> HEIRSY: A belief that horrifies your parents. “George Jr. was written from the will after admitting he voted for him in 2016 AND 2020.” (Richard Franklin)

ILMNOOT> LOIN-TO: A love booth. (Tom Witte)

ILMNOOT> MILTOON: “Paradise Lost”, the Classics Illustrated version. (Jim Derby; Rob Huffman, Fredericksburg)

And finally: ACLOOPR> CORPOLA: Useless objects that are decorated with advertising. “She calls it ‘Bob Staake Limited Edition Artwork’, but aren’t these magnets really just cheap corpola with the Washington Post logo on?” (Jon Gearhart)

And even vice, from too many people to appreciate: ACELNPU> PUNACLE: What Invite Candidates Want To Achieve.

Still running – deadline Monday evening, April 19th: Our competition on what will change after the pandemic. See wapo.st/invite1431.

DON’T MISS ANY INVITATION! Login here You will receive an email from the Empress once a week once The Style Invitational and Style Conversational go online every Thursday with links to the columns.

Soulmates turns Black Mirror-style concept into a ridiculous revenge story

Did you ever think you married the wrong person? You love her, of course, but not in the delirious, all-consuming way you imagined when you were both younger and in the early stages of romance.

It has become a marriage of comfort and companionship rather than passion. In the meantime, you know that your ideal partner – your perfect partner who you should rightly be living your life with – must be out there somewhere, perhaps in the same unsatisfactory situation as someone else.

Things could be so much different if only the two of you could meet. Wouldn’t it be great if there was a company that is solely dedicated to bringing people together who are an ideal match? Or maybe it wouldn’t be that great. Maybe it would be disastrous.

This is the requirement of Soul mate (Amazon Prime), made by the US broadcaster AMC. It’s a pretty intriguing concept, ideally suited to an episode of Black Mirror – if you will -.

It’s not a coincidence. Will Bridges, who co-created Soulmates with Brett Goldstein, wrote the Charlie Brookers series. Expanding the idea into a six-part anthology series is a different matter.

The weaknesses of such a narrow field of vision become evident in the first and second episodes of Soulmates, which are the only ones I’ve seen at this point.

About 15 years into the future, a company called Soul Connex discovered “the soul particle” (science is easily run over) and developed a test that could determine with 100 percent accuracy who you should be with most can.

Ideal for singletons looking for “The One”. Not so great, in the first and better of the two episodes, for wife and mother Nikki (Sarah Snook from Succession), whose 10-year marriage to the kind, dutiful, reliable and occasionally a bit boring Franklin (Kingsley Ben-Adir, recently as Barack Obama in The Comey Rule) has settled into cozy stasis.

Everywhere Nikki looks there are happy, loving couples holding hands, cuddling and smooching. Even her smug older brother Peter (Darren Boyd, one of several British actors with decent American accents) has found his perfect wife for life. It doesn’t matter that they keep arguing about stupid things, like who had the most sexual partners. Because they are the ideal couple, explains Peter, they will always sort things out without any consequences.

Nikki’s neighbor and close friend Jennifer (Dracula’s Dolly Wells, wasted in an undeveloped role) admits that she too took the test, found her soulmate, and plans to leave their stable marriage. This is going as well as you would expect from her husband, who tells her he is taking her children away.

Nikki was trying to keep her own FOMO in check. She eventually gives in and books a test, then pulls out at the last moment. She tells Franklin everything, then says to stay together and make their marriage work – although to the objective observer it seemed to work more or less well.

Unfortunately, Franklin reveals that he too has taken a test on the sly and will drop them to start a new life with his true soulmate.

Flash forward a few months and Nikki found a new partner too. As she prepares to take the children home after a weekend with her father, she and Franklin look downright unhappy in their bright new lives. “It is better this way?” Asks Franklin plaintively, which implies the two were soul mates the entire time but didn’t realize it.

Light as the episode feels, it’s a masterpiece compared to the second which is really weak.

David Costabile plays a somewhat creepy-looking college professor whose apparent soulmate (Sonya Cassidy) hacked into his private files and tracked him down, much to his discomfort.

It looks like it’s exploring some interesting avenues at first, before turning into a ridiculously exaggerated revenge story.