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World Business Quick Take



BOJ to mull easing

The Bank of Japan (BOJ) will discuss taking additional monetary easing measures to shore up the nation’s fragile recovery at a meeting next week, a report on Friday said. The BOJ will consider pumping relatively longer-term funds into the money market to lower interest rates for corporations and individuals at the Oct. 4 to Oct. 5 board meeting, the business daily Nikkei Shimbun reported. The central bank may increase lending of fixed-rate loans maturing in three to six months to financial institutions and step up buying of short-term government debt securities, it said, without citing sources.


Consumer confidence rises

A survey shows a healthy rise in German consumer confidence amid mounting optimism over jobs and the recovery in Europe’s biggest economy. The GfK research institute said yesterday that its forward-looking confidence indicator for next month rose to 4.9 points from this month’s upwardly revised 4.3. GfK said that Germans’ economic expectations were at their brightest for about three years in September. An index measuring those expectations rose by 6.9 points over the previous month to 53.5.


No Facebook IPO imminent

Peter Thiel, a member of the board of directors of Facebook, said on Monday he does not expect the booming social network to go public for at least two years. “Facebook will not IPO for a while,” Thiel said in an interview with Fox News television when asked about a possible initial public offering. “I think we will follow the example of Google which is: You do not go public until very, very late in the process. We will stay private as long as possible.” He estimated that an initial public offering of stock would come in “2012 at the earliest.”


Petrobras completes issue

Brazil’s state-run Petrobras became the world’s third-biggest oil firm by market capitalization after US-based ExxonMobil and PetroChina on Monday as it completed a record share issue expected to bring in around US$70 billion. After selling the stock on the New York stock exchange from last Friday, in the form of American Depository Receipts, the company began also selling the shares on Monday on the Sao Paulo stock exchange. Those shares rose 1.93 percent to 30.23 reals by the end of trading — higher than the 29.65 reals the new shares were priced at for trading, showing strong demand.


IBM acquires Blade

US computer giant IBM said on Monday it has acquired Blade Network Technologies, a California company that makes data switches for computer servers. Financial terms of the purchase of the privately held Santa Clara, California, company were not disclosed. IBM said that it expected the acquisition to close in the fourth quarter of the year. Blade makes software and devices that route data to and from servers.


RBS cuts 500 jobs

Britain’s state-rescued Royal Bank of Scotland (RBS) has cut another 500 jobs, mostly at its investment banking division, it announced in a statement issued late on Monday. RBS has now axed more than 27,000 jobs since October 2008 when it was slammed by the global financial crisis.

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