Japan’s SoftBank pledges $100bn investment in US

Japan’s SoftBank on Monday unveiled plans to invest $100bn and create 100,000 jobs in the US, in the latest sign of how companies are rushing to ingratiate themselves with Donald Trump. Masayoshi Son, SoftBank’s billionaire chief executive, stood next to President-elect Trump at Mar-a-Lago on Monday as the duo formally announce the plans.

Trump has vowed to spur investment in the US with a mix of low taxes and deregulation — and even promised to expedite regulatory approvals for companies that plough $1bn or more into the US economy. Howard Lutnick, his nominee to be commerce secretary, also attended the event with Son on Monday. Investors hope the plans will boost the world’s biggest economy, a bet that has prompted strong inflows into US stocks since November’s election and sent equities zooming higher.

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