Company Briefs: Microsoft

Investors managing more than US$350 billion (S$486 billion) of assets have demanded that Microsoft publish more transparent tax and financial information, as tech giants face growing scrutiny globally over their tax affairs.

A shareholder resolution on tax transparency was filed to Microsoft ahead of its annual investor meeting this year, said the Britain-based proxy advisers Pensions & Investment Research Consultants.

Investors including Nordea, AkademikerPension and Greater Manchester Pension Fund had backed the resolution.

REUTERS

Siemens will buy US firm Brightly Software for US$1.58 billion to add digital services for buildings and infrastructure as the German company continues its transformation into a software provider.

Brightly, owned by private equity firm Clearlake Capital Group, will bolster Siemens' growth targets for digital and software revenue, Siemens said on Monday. The North Carolina-based company expects revenue of US$180 million this year. "Brightly will enable us to leapfrog to the next level of performance for buildings," Siemens said.

BLOOMBERG

Credit Suisse Group plans to boost its wealth unit and cut costs through simplifying technology as it seeks to emerge from two years of scandal.

The bank yesterday outlined plans to grow the wealth unit by focusing on priority markets like Hong Kong and Singapore, in a presentation for an "investor deep dive" that gave more details on how it wants to reach its targets while improving risk management. It also announced some 800 million Swiss francs (S$1.2 billion) in savings from centralising technology.

BLOOMBERG