Nomura to double US staff
Japan’s Nomura Holdings plans to roughly double its US-based staff to 1,200 over the next six months, a source close to the company said yesterday, as the brokerage giant expands its operations there. Nomura, which last year snapped up failed US bank Lehman Brothers’ assets in Asia, Europe and the Middle East, said this week it aimed to raise ¥432.8 billion (US$4.9 billion) to beef up its global businesses. Nomura declined to confirm the planned hirings.
Japanese readying 3D TVs
Japan’s big name electronic manufacturers are readying flat-screen TVs that can show high-definition movies and video games in 3D for launch next year. At the country’s biggest consumer electronics show that opened yesterday just outside of Tokyo all the major makers displayed 3D prototypes. Sony Corp and Panasonic Corp said they would bring their first models to market next year. The companies are plowing ahead even before there is much content available, with corporate spokesmen saying only that preparation is under way.
French bank to raise capital
French bank Societe Generale said yesterday that it would raise capital by 4.8 billion euros (US$7.1 billion) to pay back state aid it had received to help it through the financial crisis. The government had provided Societe Generale with 3.4 billion euros, part of nearly 20 billion euros loaned to French banks with interest to keep lending from drying up. Its capital increase will also “enable Societe Generale to seize potential external growth opportunities,” the bank said.
No foreign money for JAL
Japan Airlines Corp (JAL) has put on hold its plan to seek a capital tie-up with a foreign carrier to concentrate on other restructuring measures, a report said. JAL, which is seeking a government bailout to keep flying, hopes to resume negotiations with US carriers Delta Air Lines and American Airlines after drawing up a turnaround plan, Kyodo News reported late on Monday. Asia’s largest airline decided to give priority to other restructuring measures such as cutting jobs and unprofitable routes, it quoted unnamed sources as saying.
Bosch may post historic loss
The world’s leading auto parts maker, Bosch, could lose up to 3 billion euros this year, its first loss since World War II, a press report said yesterday. Bosch had posted a net profit of 372 million euros last year, which was already a drop of 87 percent from the previous year. A spokesman for the German group declined to comment on the report in the business daily Handelsblatt, terming it “market speculation.”
Tesco profits rise
Britain’s biggest retailer Tesco said yesterday that net profits rose 1.3 percent in the first half of its financial year, boosted by acquisitions, and added it was well placed for economic recovery. Profits after tax advanced to £1.027 billion (US$1.65 billion) in the six months to Aug. 29, which compared with £1.014 billion in the same period last year, Tesco said in a statement. Worldwide group revenues meanwhile swelled by 9.3 percent to £27.8 billion in the reporting period, during which Tesco created 6,500 jobs despite the global economic downturn.
FORCED LABOR: Customs officials have seized a 11.8 tonne shipment of products made from human hair on suspicion they were produced by people facing human rights abuses Federal authorities in New York City on Wednesday seized a shipment of weaves and other beauty accessories suspected to be made out of human hair taken from people locked inside a Chinese internment camp. US Customs and Border Protection (CPB) officials said that 11.8 tonnes of hair products worth an estimated US$800,000 were in the shipment. “The production of these goods constitutes a very serious human rights violation, and the detention order is intended to send a clear and direct message to all entities seeking to do business with the United States that illicit and inhumane practices will not be tolerated in
JUST QUESTIONS: Expelled reporter Ai Kezhu said that every member of Southeast Television had complied with the law and had not appeared on any talk shows Two Chinese reporters yesterday left Taiwan after the government revoked their accreditation and ordered them to leave amid a probe into allegations that several Chinese media outlets have set up studios and produced political talk shows in Taiwan. The two reporters — Ai Kezhu (艾珂竹) and Lu Qiang (盧薔) — worked for Fujian Province-based Southeast Television and arrived in Taiwan in December last year. The Mainland Affairs Council has launched an investigation after local media reported that Chinese broadcasters — including China Central Television, Southeast Television and FJTV — had set up studios in Taipei and produced political talk shows. Council Deputy Minister
UPTICK IN NUMBERS: The Taipei deputy mayor said the city has services to assist new immigrants, but has established an office specifically to help those from Hong Kong The Taiwan-Hong Kong Services and Exchanges Office today officially opens, where it is to provide humanitarian assistance to Hong Kongers, after Beijing yesterday passed a controversial national security law for the territory. President Tsai Ing-wen (蔡英文) expressed dismay over China’s passage of the law, saying that Beijing has broken its pledge to allow Hong Kong to maintain a high degree of autonomy for at least 50 years following its handover from the UK. “I feel extremely disappointed [about the law’s passage], which means China did not keep its promise to Hong Kong,” Tsai said in Taipei. Beijing’s “broken promise” also
‘BASELESS ACCUSATIONS’: Ker Chien-ming said it was not possible to drop Chen Chu’s nomination, while KMT lawmakers accused their DPP rivals of ‘homicidal behavior’ The Legislative Yuan is to vote on President Tsai Ing-wen’s (蔡英文) nominations for the Control Yuan on July 17 after Democratic Progressive Party (DPP) legislators regained access to the legislative chamber yesterday after it was occupied by Chinese Nationalist Party (KMT) lawmakers for about 19 hours. The Legislative Yuan had been scheduled to meet yesterday morning to discuss its planned extraordinary session, but more than 20 KMT lawmakers on Sunday afternoon broke into the main chamber and occupied the legislative speaker’s podium to protest Tsai’s nomination of former Presidential Office secretary-general Chen Chu (陳菊) to be Control Yuan president. The KMT caucus