Wed, Aug 10, 2011 - Page 10 News List

World Business Quick Take



Joint effort for 3D glasses

Japan’s Sony and Panasonic and South Korea’s Samsung Electronics yesterday said they would jointly develop new standards for glasses used to watch 3D images on television, computer and movie screens. The consumer electronics giants, working with European technology firm X6D Ltd, said their collaboration would cover a technology called “3D active glasses.” The glasses — which can be used on TVs from all three firms — will go on sale next year and will be compatible with 3D sets being released this year, they said.


HSBC wants to sell US unit

HSBC Holdings PLC is in talks to sell its US card and retail services unit as it pares North American operations to focus on faster-growing emerging markets and retail banking in the UK. “These discussions are ongoing and no decision has yet been made,” the London-based bank said in a filing to the Hong Kong stock exchange yesterday. Capital One Financial Corp is in advanced talks to purchase the credit-card portfolio, a person familiar with the discussions said on Monday.


Freddie Mac asks for aid

US government-controlled Freddie Mac is asking for US$1.5 billion in federal aid after posting a loss this spring. The mortgage giant says it lost US$4.69 billion, or US$1.44 per share, in the second quarter. That takes into account US$1.6 billion in dividends paid to the Treasury Department. It compares with a loss of US$6 billion, or US$1.85 per share, during the same quarter last year. Standard & Poor’s cited the link to the US government when it lowered Freddie and Fannie’s credit ratings on Monday, from “AAA” to “AA+.”

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