Nov 5, 2018

SoftBank CEO: We can't "turn our backs on the Saudi people"

SoftBank chairman and CEO Masayoshi Son. Photo: Alessandro Di Ciommo/NurPhoto via Getty Images

SoftBank CEO Masayoshi Son today described the murder of Jamal Khashoggi as an "act against humanity," but added that SoftBank "cannot turn our backs on the Saudi people as we work to help them in their continued efforts to reform and modernize their society."

Why it matters: SoftBank took a $45 billion investment from the Saudi government for its $100 billion Vision Fund, which has backed such U.S. companies as Uber and WeWork.

  • For the six months ending on Sept. 30, the Vision Fund saw gains (realized and unrealized) of ¥648.8 billion ($5.7 billion), a 233.8% increase from a year ago.

Masa Son's full remarks (via live interpreter):

We were deeply saddened by the news of Mr. Khashoggi’s murder and condemn this act against humanity and also journalism and free speech. This was a horrific and deeply regrettable act. Therefore we have raised our concerns with the party and we believe that this should not have happened.
The other day there was an event held by Saudi Arabia, and I did not participate in the conference and I cancelled the participation. However I did visit Saudi Arabia and the reason is because I wanted to meet directly with senior Saudi officials and wanted to raise our concerns with them. We want to see those responsible held accountable.
At the same time, we have also accepted the responsibility to the people of Saudi Arabia, an obligation we take quite seriously to help them manage their financial resources and diversify their economy. As horrible as this event was, we cannot turn our backs on the Saudi people as we work to help them in their continued efforts to reform and modernize their society. So we hope to see those responsible held accountable.

Go deeper:

Go deeper

How to understand the scale of American job decimation

Data: U.S. Bureau of Labor Statistics via St. Louis Fed; Chart: Andrew Witherspoon/Axios

Sentence from a nightmare: 6.6 million Americans filed for unemployment last week, a decline from the previous week's 6.9 million.

The big picture: Over the past three weeks, 1 in 10 working-age adults filed for unemployment, Axios' Courtenay Brown notes.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 1,579,690 — Total deaths: 94,567 — Total recoveries: 346,780Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 452,582 — Total deaths: 16,129 — Total recoveries: 24,790Map.
  3. Public health latest: U.S. has expelled thousands of migrants under coronavirus public health orderDr. Anthony Fauci said social distancing could reduce the U.S. death toll to 60,000.
  4. Business latest: The Fed will lend up to $2.3 trillion for businesses, state and city governments — Another 6.6 million jobless claims were filed last week.
  5. World latest: Boris Johnson is moved out of ICU but remains in hospital with coronavirus.
  6. In Congress: Senate in stalemate over additional funding for small business relief program.
  7. What should I do? Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Biden rolls out new policies in effort to court Sanders supporters

Photo: Scott Olson/Getty Images

The Biden campaign announced two new policies on Thursday on health care and student debt that are squarely aimed at appealing to supporters of Bernie Sanders, who ended his campaign for the Democratic nomination on Wednesday.

Why it matters: The policies don't go as far as Sanders' platform, but they signal that Biden is serious about incorporating elements of his former rival's agenda in an effort to help unify the Democratic Party and defeat President Trump in the general election.