Corporate Bits | MGM welcomes 200 at its fifth “Health Day for the Elderly”

For the fifth year, MGM Macau hosted its “Health Day for the Elderly” yesterday. A total of 40 MGM volunteer team members participated in the activity and has invited 16 practitioners from the Macau Chinese Medicine Association to provide medical consultations for 200 elderly residents from Centro de Dia “Brilho da Vida” and prescribed herbal soups after a one-on-one consultation.
The “Health Day for the Elderly” was first held in 2010, and has since helped more than 800 elderly in Macau. In addition to on-site Chinese medical consultations, there is also live entertainment, games and refreshments.
Since June 2010, MGM Macau’s Volunteer Team has been committed to serving the community, and regularly partners with other organizations to support the needy, elderly groups and youth in a wide range of volunteer activities.

Deutsche Bank co-CEO, 4 others face charges

Prosecutors in Germany have brought charges against Deutsche Bank co-CEO Juergen Fitschen and two former CEOs in connection with what prosecutors say were false statements in a court case.
The Munich prosecutor’s office said Fitschen, Rolf Breuer and Josef Ackermann were charged with attempted serious fraud over statements during a lawsuit brought by media mogul Leo Kirch.
Kirch accused then-CEO Breuer of contributing to the 2002 bankruptcy of his company by saying in a media interview that banks would not lend it any more money. Kirch died in 2011. Deutsche Bank settled with Kirch’s estate in February by agreeing to pay 775 million euros (USD997 million).
During testimony, prosecutors said, Breuer made false statements aimed at avoiding monetary damages.
After the court challenged the truthfulness of Breuer’s testimony, prosecutors said, the bank made a written submission containing a false statement aimed at supporting Breuer’s account. The five defendants all declared themselves in agreement with the statement, the prosecutors said.

Pepper in advanced talks to buy HK Stanchart Primecredit unit

Pepper Australia Pty is in advanced talks to acquire Standard Chartered Plc’s Hong Kong consumer credit unit, people familiar with the matter said.
Sydney-based Pepper, which lends to borrowers who don’t meet traditional lending criteria, is the preferred bidder for the PrimeCredit Ltd. business, two of the people said, asking not to be identified because the negotiations are confidential. The two companies may reach an agreement on a deal in the next few weeks, the person said.
The bank was seeking about USD700 million for PrimeCredit, people familiar with the matter said in April. Standard Chartered is selling the unit after Chief Executive Officer Peter Sands came under investor pressure to show he can steer the bank through slowing economic growth in Asia.
Sarah Bullen, a spokeswoman for Pepper at Sydney-based DEC Public Relations, and Joyce Li, a Hong Kong-based spokeswoman for Standard Chartered, declined to comment. Reuters reported Tuesday that Pepper was in advanced talks to buy PrimeCredit and is awaiting approval from Hong Kong’s banking regulator, citing unidentified people.