Chinese Vice Premier expected to sign “Phase 1” trade deal with the US next week. More SoftBank-backed companies lay off workers. Carlos Ghosn makes first public appearance since his escape from Japan.
January Jubilation: Liu He, China’s Vice Premier, will be in Washington next week to sign a “Phase 1” deal between the US and China. Liu is expected to visit the US between January 13th and 15th. While the terms of the deal are yet to be made public, it is expected to involve Beijing buying more American agricultural goods and some issues surrounding intellectual property rights being resolved. Reuters
Three is Company: Zume Inc. is a pizza delivery and food logistics unicorn based out of Mountain View, California. Getaround is a San Francisco-based car rental company. And OYO is one of the largest hotel chains on the planet.
What do these three companies have in common? One, they are funded by SoftBank. And two, they are all cutting their work force and laying off employees. And they follow in the footsteps of other job-slashing, SoftBank-backed firms like Uber, WeWork, Fair, Katerra and Opendoor. Silicon Valley Business Journal
Ghosn is Gone No More: Carlos Ghosn has made his first public appearance since fleeing the clutches of Japanese authorities and flying to Lebanon in a wild, James Bond-styled escape. In a two-hour-plus press conference on Wednesday, the former Nissan CEO defended himself against charges of financial crimes, accused prosecutors and former colleagues of orchestrating his downfall, and critiqued the recent performance of Nissan and Renault, admonishing that “there is no more alliance”. WSJ
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