Business News at a Glance

SoftBank Looks to Invade Wall Street’s Turf

The private equity industry has long been dominated by the Wall Street elite. Now SoftBank, a Japanese conglomerate best known in the United States for its ownership of Sprint, is looking to muscle in. Under Masayoshi Son, SoftBank recently unleashed a $100 billion investment fund focused on technology. With his technology fund and Fortress under one roof, Son concluded that SoftBank could create an asset management firm capable of siphoning business from industry heavyweights. With their rich fees and locks on client cash for as much as 10 years, alternative investments are the fastest-growing segment of the fund industry.

Saudi Aramco Public Listing May Be Delayed Until 2019

Investors waiting for the chance to buy a piece of Aramco, Saudi Arabia’s state-owned oil behemoth, will have to wait. Aramco had been expected to begin trading on a public stock market this year, but, according to a person briefed on the company’s planning, that is now likely to happen next year. The delay reflects the difficulties in arranging what would easily be the world’s biggest-ever initial public offering. The company’s potential market debut, a centerpiece of an ambitious economic overhaul of Saudi Arabia led by Crown Prince Mohammed bin Salman, has drawn the interest of investors around the world.

As ’60 Minutes’ Prepares Stormy Daniels Interview, Lawyers Battle

The CBS News program “60 Minutes” was moving forward with plans to show an interview it conducted last week with Stephanie Clifford, the pornographic film actress who says she had an affair with Donald Trump, as her lawyer and a lawyer for the president traded public jabs through the weekend over her right to speak. Clifford spoke with “60 Minutes” contributor Anderson Cooper last week despite an arbitrator’s ruling reaffirming an agreement she reached with Trump in October 2016 to remain silent about their alleged relationship — which she said started in 2006 — in exchange for $130,000.

Lotto Tickets Are Nice, Boss, but May I Have My Bonus?

United Airlines announced that it was replacing a standard bonus with a lottery that would give nothing to most of its roughly 90,000 workers while awarding lavish prizes, like $100,000 in cash and Mercedes-Benz sedans, to a few lucky winners. While employers have relied on gamelike techniques for motivating employees for decades, the methods have become increasingly sophisticated in an age when companies can collect more data about employee behavior than ever before. Defenders say such practices can be useful — if they are designed to make employees feel more engaged and invested in their work, not to save money.

‘Black Panther’ Dominates ‘Wrinkle in Time’ at Box Office

“A Wrinkle in Time” (Disney), directed by Ava DuVernay, the first African-American woman at the helm of a big-budget studio film, and starring an ensemble cast led by Oprah Winfrey, Mindy Kaling and Reese Witherspoon, had everything going for it. But the sum added up to less than its parts. “A Wrinkle in Time” arrived to a lackluster $33.3 million in ticket sales in North America over the weekend. That turnout placed it behind Ryan Coogler’s “Black Panther” (Disney), which collected about $41.1 million in its fourth weekend, for a new domestic total of $562 million, comScore said.

Big Sale Week for Treasury Debt

The supply of government bonds hitting the market has been increasing this year as budget deficits rise in the wake of the Republican tax cuts. At the same time, inflation concerns could prompt investors to ask for higher interest rates from Uncle Sam, when the Treasury auctions $21 billion in 10-year notes and $13 billion in 30-year bonds on Monday and Tuesday. Weak demand for Treasury debt at auction would push government borrowing costs up and could reverberate throughout financial markets.