Sat, Apr 13, 2019 - Page 10 News List

World Business Quick Take

Agencies

AUTOMAKERS

Ghosn detention extended

The Tokyo District Court yesterday said it had extended Carlos Ghosn’s detention period by eight days, giving prosecutors until April 22 to bring formal charges against the former Nissan Motor Co chief executive or let him go. Ghosn’s initial detention period was set to expire tomorrow and had been widely expected to be extended by the maximum 10 days. Public broadcaster NHK said it was rare for prosecutors’ full extension request to be denied and shortened.

INTERNET

Amazon raises Prime rates

Amazon.com Inc has raised the price of its Prime service in Japan for the first time since launching the membership service in the country 11 years ago, citing rising costs. Effective yesterday, the annual price for the shipping, video-streaming and array of other services rose 26 percent to ¥4,900 (US$44), the Seattle-based company said in a statement. Monthly fees went up by ¥100 to ¥500.

ENTERTAINMENT

Disney+ launch on Nov. 12

Walt Disney Co on Thursday announced that it would launch its video-streaming service in the US in November, spotlighting its blockbuster-making studios as it takes on powerhouse Netflix Inc. The company said that after launching in the US on Nov. 12 at US$6.99 per month, Disney+ would gradually expand internationally, starting in Europe. The company plans to make the streaming service available in all major regions of the world within two years. The service will offer Disney’s films and TV shows, along with the library it acquired from Rupert Murdoch’s 21st Century Fox. That includes the Star Wars and Marvel superhero franchises, and ABC television content.

AUTOMAKERS

Tesla starts car leasing

Tesla Inc on Thursday started leasing out its Model 3 sedan in the US, in a financing option that should increase the electric vehicle maker’s customer base. Customers in the US would be able to lease any Model 3 variant for a small down payment and monthly payments thereafter, but they will not have the option to buy the vehicle at the end of the lease, Tesla said. The company said it would also begin bundling its autopilot software as a standard feature on all vehicles, raising the base price.

BANKING

CommBank to slash jobs

Commonwealth Bank of Australia (CommBank) is working on a plan to cut more than 10,000 jobs and about A$2 billion (US$1.4 billion) of costs, the Australian newspaper reported, without saying where it got the information. The nation’s largest lender is said to be considering closing as many as 300 of its almost 1,000 branches, the paper said. A reduction of 25 percent of its workforce could see 10,000 to 12,000 jobs go in coming years, the report said.

SINGAPORE

Central bank keeps rates

The central bank yesterday kept its monetary policy settings unchanged, striking a dovish tone as it sees the economy growing below potential. After tightening policy twice last year, the Monetary Authority of Singapore — which uses the exchange rate as its main policy tool — left the slope and width of the currency band unchanged, as well as the level at which it is centered. The stance is “consistent with a modest and gradual appreciation path” of the currency band, it said in a statement on its Web site.

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