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Teco eyes sector dominance in China

By Camaron Kao

Teco Electric & Machinery Co (東元電機), which makes industrial motors and home appliances, yesterday said that it aims to more than double its shipments of medium and large industrial motors in China by the end of 2016 to become the No. 1 maker in theFULL STORY

Two surveys uncover employment trends

By Amy Su

Three-quarters of Taiwanese employers would consider hiring first-time jobseekers, according to a survey released by ManpowerGroup yesterday. The Milwaukee, Wisconsin-based employment agency said companies are willing to step up recruitment on the back of the nation’s economic recovery. The agency’s latest survey showed that 75 percent ofFULL STORY

India levies fines on automakers

India’s antitrust watchdog has fined 14 automakers a total of US$420 million for restricting competition in the spare parts market and driving up prices, an official said yesterday, a few days after Chinese regulators took similar action. The Competition Commission of India found domestic automakers andFULL STORY

Fairchild set to close chip plants, cut staff up to 15%

US-based Fairchild Semiconductor International Inc, one of the integrated chip industry’s oldest companies, is to close aging plants and cut as much as 15 percent of its workforce as it shifts production to outside manufacturers. Factories are to be closed in West Jordan, Utah; Penang, Malaysia;FULL STORY

NDC mulls pilot zone talks with China

By Camaron Kao

The National Development Council (NDC) yesterday said that it plans to negotiate with China’s financial regulator to allow Taiwanese companies in Kunshan, Jiangsu Province, to use Taiwan’s rising yuan deposits for future investments. “We have a significant amount of yuan deposits in Taiwan, but currently theFULL STORY

Europe sees gains in share of yuan payments: SWIFT

Europe now represents 10 percent by value of global payments in China’s currency, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) said yesterday, as more countries seek a greater share of yuan business through new currency clearing arrangements. Although Hong Kong is the dominant center forFULL STORY

New rules give insurers scope

By Kevin Chen

The Financial Supervisory Commission yesterday said it had amended its regulations governing investments in overseas insurance-related businesses by Taiwanese insurance companies. The new rules will take effect after going through routine administrative procedures, the commission said in a statement posted on its Web site. The commission saidFULL STORY

iPhone 6’s design issues ‘may lead to less’ stock

By Kevin Chen

Supply-chain companies for Apple Inc’s new 4.7-inch iPhone 6 may only provide 13.5 million units of the new handset this quarter, nearly 16 percent less than an earlier estimate of 16 million units, Yuanta Securities Co (元大證券) analyst Jeff Pu (蒲得宇) said yesterday. The downward adjustmentFULL STORY

Telecoms mull cutting 4G prices amid competition

By Lisa Wang

The nation’s big three telecoms operators said they have garnered 600,000 4G subscribers and are mulling cutting prices to fend off competition from their recent rival Taiwan Star Telecom Corp (台灣之星). On Monday, Taiwan Star unveiled a 4G package of NT$599 per month, which is halfFULL STORY

Taiwan Business Briefs

ASE, Bosch to team up Advanced Semiconductor Engineering Inc (ASE, 日月光), the world’s biggest chip packager and tester, said yesterday it would team up with Bosch Sensortec GmbH of Germany to jointly develop a leading edge sensor device. ASE said this leading edge sensor device features digitalFULL STORY

China examines Microsoft’s bundling

Microsoft Corp’s Internet browser and media player are being targeted in a Chinese antitrust probe, raising the prospect of China revisiting the software bundling issue at the heart of past antitrust complaints against the firm in the West. Microsoft has not been fully transparent with informationFULL STORY

Amazon targets gameplay fans with bid for Twitch

Amazon Inc is hoping to become the ESPN of video games. The e-commerce giant is buying streaming platform Twitch Interactive for US$970 million in cash as it seeks to take part in video gaming’s growth as an online spectator sport. Twitch is a multichannel online networkFULL STORY

Mozilla eyes Indian market with a US$33 smartphone

Mozilla Corp began offering its first low-cost smartphone in India for 1,999 rupees (US$33), in a bid to build market share for its open-source software in the world’s fastest growing market for such devices. The Cloud FX phone runs Mozilla’s Firefox operating system and offers gamesFULL STORY

Singapore to upgrade cybersecurity

Singapore on Tuesday announced new measures to strengthen cybersecurity to prevent a recurrence of attacks on government Web sites including those of its president and prime minister. Information minister Yaacob bin Ibrahim said the government is upgrading its Cyber-Watch Centre, allowing it to track malicious activitiesFULL STORY

Napa Valley tremor losses expected to amount to billions

A strong earthquake that jolted residents of California’s Napa Valley wine country from their beds on Sunday caused insured property damage likely in the hundreds of millions of dollars, but the region’s total economic losses are expected to be several times that, experts said onFULL STORY

Excessive mobile use bad for school test scores: study

Children who spend more than four hours a day on their mobile phone perform significantly worse on school tests than those who are limited to just 30 minutes, a Japanese government survey has found. Among the nearly one in nine 14-and-15-year-olds who use their handheld deviceFULL STORY

World Business Quick Take

FAST FOOD Fourth McDonald’s closed Russian authorities on Monday closed the first McDonald’s restaurant outside the capital over alleged sanitary violations in a move seen as retaliation for Western sanctions over the Ukraine crisis. Consumer safety agency Rospotrebnadzor said it had temporarily closed a McDonald’s restaurantFULL STORY

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