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Good morning from the newsroom of the Financial Times. Today is Tuesday

January 8th and this is your FT news briefing. Today we'll be looking at

Soft Bank rolling back its planned investment in We Work, how some hedge funds manage to avoid a tough year, and how a no-deal Brexit

might mean days-long waits for trucks at a key port to Europe.

Then the FT's Robert Armstrong tells us where the next financial crisis might start.

I'm Eric Krupky and here's the news you need to start your day.

The F.T reports that Japan's Soft Bank will radically scale back its plans for investment

in We Work, the shared office provider.

Investors in Soft Bank's $100 billion vision fund are concerned about the recent tech stock retreat.

At the end of last year, Soft Bank was in negotiations to invest $16 billion into We Work.

Now they plan to invest only two billion dollars,

according to two people briefed on the deal. The deal will no longer include the

participation of Soft Bank's Vision Fund, which was a major backer of

Soft Bank's existing $8 billion plus investment in

We Work.

The funding could be announced as soon as this week, but the deal hasn't been agreed to yet and

could still fall apart. The scaling back of the investment underlines the rapid shift in investor

enthusiasm for tech shares.

And 2018 was a year of renewed financial market turmoil. It was among the worst for hedge funds since the financial crisis.

But some of the hedge fund industry's biggest names have managed to thrive despite that.

...