SoftBank Reports $3.5 Billion Loss Due To China's New Regulations

SoftBank on November 8, reported a sharp decline in its half-yearly profit with a net loss of 3.5 billion dollars. According to reports, China's stricter regulations on technological companies have directly caused an impact on profits, as the company plays a key role in Chinese Startups. Shares of Alibaba and Didi Global, in which SoftBank has a major stake, fell drastically, losing 45 percent loss in revenue, as per reports.