Sat, Apr 16, 2016 - Page 15 News List

World Business Quick Take



Credit Suisse to be penalized

The Japanese Securities and Exchange Surveillance Commission recommended that the Financial Services Agency penalize Credit Suisse Group AG’s Japanese brokerage unit for leaking private information about a company, the commission said in a statement yesterday. An analyst at the Swiss firm gave non-public information to a colleague in the sales division, plus at least one customer, about an unidentified company’s earnings forecast, the commission said. The sales employee then solicited at least 33 customers to buy shares in the company whose information was leaked, the commission said.


Cherokee declared green

Chrysler’s Jeep has been declared green by the Japanese government, becoming the first gasoline-engine US-brand vehicle to qualify for this nation’s green-car tax incentive. The automaker said yesterday this year’s Jeep Cherokee Trailhawk meets the emissions and fuel-efficiency standards allowing buyers to take a tax break of about ¥58,000 (US$530) off the price tag. The vehicle sells for about ¥5.1 million in Japan, although the cost depends on the model and other options.


Tencent seeking US$2bn

Tencent Holdings Ltd (騰訊), Asia’s biggest Internet company, is speaking with banks about getting a syndicated loan of as much as US$2 billion as it expands operations and pushes ahead with acquisitions, people familiar with the matter said. The Chinese firm, which operates the WeChat and QQ instant message systems, is seeking a five-year facility of US$1.5 billion to US$2 billion, the people said. The financing is separate from a five-year loan of US$2.45 billion it worked out with banks last year, the people said.


Carrefour revenue rises

Carrefour SA, France’s largest retailer, reported stronger first-quarter revenue, boosted by growth in southern Europe and Latin America, and improving sales in China. Revenue reached 20.1 billion euros (US$22.6 billion), Boulogne-Billancourt-based Carrefour said yesterday in a statement. Analysts expected 20 billion euros, according to the median of 13 estimates compiled by Bloomberg. Growth was 3.1 percent excluding calendar effects and gasoline sales.


GoPro eyeing versatility

GoPro Inc on Thursday announced that it is teaming up with outside developers to make it easier to use the company’s mini-cameras with apps or synch them with other devices. The effort to make GoPro products more versatile and, ideally, more tempting to buyers came after a GoPro Developer Program in San Francisco has been underway quietly for more than a year, the company said. A hundred companies have partnered with GoPro in the program.


BNP Paribas to axe 675 jobs

BNP Paribas SA plans to eliminate as many as 675 jobs at its investment-banking division in France, or about 11 percent of the unit’s workforce, as regulators increase scrutiny of riskier activities. The cuts in the corporate and institutional banking unit are to be carried out through a voluntary departure program, France’s largest lender said on Thursday. The bank is seeking 1 billion euros in annual cost savings at the securities unit by 2019 as it focuses on businesses that absorb less capital and generate higher fees.

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