Associated Press
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. For the fiscal year that ended in March, Softbank racked up losses of 1.7 trillion yen ($13 billion), a reversal from the 4.9 trillion yen profit for the previous year. Although Softbank’s portfolio is not directly exposed to the war in Ukraine, the company warned that global uncertainty as well as inflation and soaring energy costs would likely hurt its profitability.