Sun, Jan 17, 2010 - Page 11 News List

Business Quick Take



Regulator to track loans

China’s banking regulator said it will ensure loans enter the “real economy” and restrict financing to sectors that are energy-intensive, bad for the environment and facing overcapacity. The regulator will watch changes in the real estate market and enforce related loan policies, the China Banking Regulatory Commission said in a statement on its Web site after its annual meeting. It will support areas such as agriculture and small companies, and reinforce risk controls, the regulator said.


Germany tops survey

Germany emerged top and Singapore second on Friday in a new World Bank logistics survey that measures how efficiently countries trade their goods around the world. Sweden was adjudged the next most trade-friendly nation in the study hailed by the Washington-based institution as “the most comprehensive world survey of international freight forwarders and express carriers.” High-income economies dominated the top logistics rankings, with most of them occupying important places in global and regional supply chains, the 155-­nation “Logistics Performance Indicators” study showed. By contrast, the 10 worst-performing countries were all from the low and lower income groups.


Bing search share grows

Microsoft’s new Internet search engine Bing posted a modest gain in its share of the US search market last month while partner Yahoo saw its share dip slightly, online tracking firm comScore said. Google remained the overwhelming leader of the lucrative US search and advertising market last month, increasing its share to 65.7 percent from 65.6 percent in November, comScore figures released on Friday showed. Yahoo saw its share of the search market fall to 17.3 percent last month from 17.5 percent the previous month, comScore said, while Bing’s share rose to 10.7 percent from 10.3 percent.


AmEx buys payment firm

American Express (AmEx) said on Friday it had completed its acquisition of Revolution Money, a Web payments firm started in 2005 by Internet firm AOL founder Steve Case. With the US$300 million acquisition, AmEx is taking aim at the growing market for online and alternative payments, in a challenge to recognized leader PayPal, analysts said. PayPal, a unit of eBay, has been able to dominate in this area but others such as Google Checkout have struggled, analysts say.


Pershing pushes for bid

Pershing Square Capital Management LP, a New York hedge fund run by activist investor William Ackman, has amassed a 2 percent stake in Kraft Foods Inc and has encouraged the food giant to pursue an acquisition of Cadbury Plc. The purchases, confirmed by Kraft and Ackman on Friday, comes as Kraft nears a deadline to make its final bid for Cadbury. The stake of nearly 33 million shares is now Pershing’s largest single investment, Ackman said.


Affiliated plans bankruptcy

Affiliated Media Inc, the holding company for MediaNews Group Inc newspapers including the Denver Post and San Jose Mercury News, said on Friday that it plans to become the latest owner of US newspapers to file for bankruptcy. The company said it would file a “prepackaged” plan already approved by lenders, which should allow it to emerge from bankruptcy more quickly.

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