Standard issue snapped up
Standard Chartered, the bank focused on emerging markets, said yesterday that investors snapped up 98.5 percent of its new shares, helping it raise about ￡3.3 billion (US$5.3 billion) to meet new global banking rules. Standard last month said it planned to raise the amount to help meet Basel III, which stipulates that banks must hold capital equal to at least 7 percent of their assets. The British bank said in a statement that it had received valid acceptances “representing approximately 98.5 percent of new ordinary shares offered.” The bank had offered a new share for eight existing ones at a heavily discounted price of ￡12.80 per share.
Shell sells Woodside stake
Royal Dutch Shell PLC said its Australian subsidiary would sell a 10 percent stake in Perth-based gas and oil producer Woodside Petroleum Ltd to Swiss bank UBS AG, for about US$3.33 billion. Shell’s sale of 78.34 million shares to UBS at A$42.23 per share is a discount to Woodside’s most recent closing price of A$45.86. Shell said the move was natural, given its recent US$3.05 billion joint purchase with PetroChina of Australia’s Arrow Energy, a maker of coal bed methane. Shell CEO Peter Voser said Shell was selling its stake in Woodside because it preferred “direct interest in assets and joint ventures, rather than indirect stakes.”
E.ON restructuring: report
E.ON, Germany’s leading energy company, is poised to announce a major reorganization that could see it shedding some of its least profitable sectors, Spiegel magazine reported. Over the next two or three years, E.ON head Johannes Teyssen wants to sell or open to partnerships less lucrative areas of Spiegel said, citing com the company, pany sources, in its edition yesterday. That may include selling its E.ON Ruhrgas division that sells natural gas to about 15 million consumers in Germany. E.ON is expected to announce its detailed quarterly results tomorrow.
Gazprom net profit up 66%
The world’s biggest gas firm, Gazprom, said yesterday that its net profit for the first half of this year rose more than 66 percent to 508.2 billion rubles (US$16.5 billion). Total sales increased 17 percent to 1.7 trillion rubles in the first half compared with the same period the year earlier, it said in a statement. Sales of gas expanded 6 percent to 1 trillion rubles due to higher volumes of gas sold in all of Gazprom’s areas of activity, which compensated for price falls in Europe and the former Soviet Union.
Siemens sets green target
Siemens AG aims to grow revenue from solar equipment, wind turbines and other products designed to save energy to 40 billion euros (US$55 billion) by 2014 as it jostles with General Electric Co for market share. Revenue from environmental products totaled about 28 billion euros in the fiscal year through September, the company said in a statement yesterday. The company had previously targeted revenue of at least 25 billion euros by next year. Siemens’ renewable-energy unit generated the highest orders among the 14 divisions in the third quarter, and the company is predicting strong volume growth for both orders and sales in the final three months of the year. GE is investing about US$10 billion in green technology by 2015 and has a revenue goal of US$20 billion for this year.
PLANNED OUT: The government is lifting sale and export restrictions on 60% of the 20 million masks made daily, but people can still make purchases using their NHI cards Twenty thousand boxes of 50 masks each would be on sale at FamilyMart convenience stores starting tomorrow, Taiwan FamilyMart Co Ltd (全家便利商店) said yesterday. A box of 50 masks would cost NT$249 for those with FamilyMart memberships and NT$299 for those without, with no limits placed on how many boxes a person can buy, the company said. Convenience store chain operator Hi-Life International Co Ltd (萊爾富) said that it would also start selling masks from tomorrow. It has yet to announce details about prices and quantity. Hypermarket chain operator Carrefour Taiwan (家樂福) said that it would start selling packs of five
Delta Electronics Inc (台達電), the nation’s leading power management solutions provider, has signed an agreement to acquire Canadian software firm Trihedral Engineering Ltd to bolster its smart production efforts, it said on Saturday. Delta said in a statement that it would acquire Trihedral for C$45 million (US$32.68 million) through its 100 percent-owned subsidiary Delta Electronics (Netherlands) BV. Trihedral specializes in supervisory control and data acquisition (SCADA) and industrial Internet of Things software, which would strengthen Delta’s hardware offerings in fast-growing areas such as automation, artificial intelligence and data analytics, it said. “The collection, monitoring and analyzing of data are critical to Delta’s two
From the customer’s perspective, car rental is a straightforward business. The only uncertainty is whether the hire company will charge you for the scratch they discover when you hand back the vehicle. Hertz Global Holdings Inc’s bankruptcy protection filing on Friday last week was a reminder that today even the simplest business models are underpinned by a lot more financial complexity than meets the eye. The proximate cause of Hertz’s demise was of course the sudden collapse in bookings caused by COVID-19 travel restrictions. The company’s monthly revenue last month fell 73 percent year-on-year, a shortfall that even the most resilient
BOOSTING BUYING: A source said that the idea of pre-ordering vouchers online is being considered, but the preliminary plan is for people to buy them at post offices A stimulus voucher program to be rolled out next month to boost consumption would be available not only to Taiwanese, but also foreign nationals and Chinese spouses who hold residency permits, a source familiar with the matter said yesterday. The government is fine-tuning the details of the program, which involves issuing vouchers for in-store purchases to revive buying amid the COVID-19 pandemic. During a radio interview on Monday last week, National Development Council (NDC) Minister Kung Ming-hsin (龔明鑫) said that the plan is to allow anyone, regardless of age or income level, to buy NT$3,000 (US$99.89) worth of vouchers for