Investor StrategyStockTop News

SoftBank’s CEO Reconsiders Plans for Free Virus Tests Amid Negative Feedback

1 Mins read
imageStock Markets5 hours ago (Mar 12, 2020 01:07AM ET)

(C) Reuters.

By Alex Ho – Softbank Group Corp. (T:9984)’s CEO Masayoshi Son said he is reconsidering his earlier proposal of free virus testing as his offer drew criticism.

Son proposed earlier this week to provide 1 million free home tests for COVID-19 as he was “worried about the situation” and that many people were not able to test if they were infected.

However, he withdrew the plan merely hours later amid concerns that the Japanese health care system could be overwhelmed by such a huge influx of people with light symptoms.

One comment on Son’s Twitter feed pointed out that the tests involved are way too complicated, as they require the users to take a swab from deep in the nasal cavity and that a deluge of useless samples would actually impede detection.

“I started the plan because I heard that many people couldn’t take the tests even if they want to,” he said.

SoftBank’s shares dropped 4.7% to 4,040 yen by 12:05 AM ET (04:05 GMT).

SoftBank’s CEO Reconsiders Plans for Free Virus Tests Amid Negative Feedback

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related posts
EconomyTop News

'Disaster' U.S. earnings loom, but investors try and look beyond

3 Mins read
Economy3 hours ago (Jul 09, 2020 06:25AM ET) (C) Reuters. New York Stock Exchange opens during COVID-19 By Caroline Valetkevitch and David…
EconomyTop News

The man who led Wirecard into insolvency

4 Mins read
2/2 (C) Reuters. Members of the management board of Wirecard AG during a statement in Aschheim 2/2 By Arno Schuetze, Sabine Wollrab…
EconomyTop News

China must take steps to stabilise foreign trade: vice premier

1 Mins read
Economy4 hours ago (Jul 09, 2020 05:50AM ET) (C) Reuters. Chinese Vice Premier Hu Chunhua attends a meeting with Britain’s Chancellor of…
Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Leave a Reply

Your email address will not be published. Required fields are marked *