Second-wave dotcom Uber-investor Softbank forecasts gargantuan losses as world economy faces slump theregister.co.uk

Its legendary $100bn Vision Fund, which has been behind major investments in Uber, WeWork and British chip designer Arm Holdings, says it expects to lose JPY 1.8 trillion ($16.7bn) in FY2019 [PDF].
In September last year, it was estimated that SoftBank was $600m in the red with its Uber investment, after its disappointing IPO.
Launched in May 2017, the Vision Fund is supported by sovereign wealth funds from Saudi Arabia and The United Arab Emirates, as well as other technology companies including Apple, Qualcomm, Foxconn, and Sharp.
By way of comparison, the global economy fell 0.7 per cent in 2009 following the credit crunch.
The IMF said that in 2021, the world economy could recover and grow at a 5.8 per cent.