Sony seeking Olympus stake: report
Japanese electronics giant Sony is reported to be in talks to take a stake of up to 30 percent in Olympus as the camera firm looks to shore up its finances after a US$ 1.7 billion cover-up scandal. The Nikkei business daily says the electronics giant has proposed a capital and business tie-up with the camera and medical equipment maker, offering to take a maximum stake of about 20 to 30 percent. Several Japanese and foreign companies have been mentioned in the media as possible business partners for Olympus in the wake of the scandal.
Keiser Report: Economic Euthanasia (E145)
Watch full episode 145 of Keiser Report on Tuesday. This week Max Keiser and co-host, Stacy Herbert, report on assessing either the value of Osama bin Ladens hideout or the price of food through the Feds eyes. In the second half of the show, Max talks to Mike Maloney of GoldSilver.com about silver, the Hunt brothers and the dollar. KR on FB: www.facebook.com/keiserreport
China banks report rise in profits
Agricultural Bank of China says third-quarter profit rose 40 percent to just over 34-billion yuan from the same period last year. The earnings - which were in line with market estimates - were driven by a 53-percent surge in fee and commission income from credit cards and insurance business. At the same time, Bank of China posted slower-than-expected growth for the third quarter. Profits rose 9.4 percent.
UK report urges major banking reforms
A report in Britain has called for far-reaching changes to the banking industry, to try to prevent a repeat of the 2008 banking crisis, which led to a huge bailout by taxpayers. The Independent Commission on Banking, set up by the government, urges banks to shield their customers from the impact of riskier investment banking.
Keiser Report: Dope Economy! Fecal Finance! (E117)
This time, Max Keiser and co-host, Stacy Herbert, talk about emails showing Bear Stearns cheated clients out of billions. In the second half of the show, Max talks to Nomi Prins, author of It Takes a Pillage, about Goldman Sachs' Facebook deal and more. Keiser Report on FB: www.facebook.com
Video Rating: 4 / 5
HSBC axe 700 jobs in Britain – report
HSBC will also reportedly cut about 700 jobs in Britain. Most are expected to be branch staff advising on financial products. The move comes prior to the implementation of new rules that will force banks to charge clients who use financial advisory services.
Real Economy Report 157 – Council for Scientific and Industrial Research
The Pretoria campus of the Council for Scientific and Industrial Research has launched a centre to display various sanitation technologies. Dennis Ndaba spoke to Hans Ittmann, executive director of the CSIRs Built Environment.
President Obama said, "There are some structural issues with our economy, where a lot of businesses have learned to become much more efficient, with a lot fewer workers. You see it when you go to the bank and use an ATM -- you don't go to a bank teller." We sent our crew to the streets of Alexandria, Virginia and they asked people to sign a petition to ban ATMs to save jobs.
Video Rating: 4 / 5