■ Copyrights Starbucks to sue `imitator' \n \nCoffee shop giant Starbucks is suing a Shanghai coffee shop for allegedly stealing its logo, a news report said yesterday. The US chain says it is taking its case to court after warning the Shanghai Xingbake Cafe for four years not to use Starbucks' distinctive circular green and black logo. Starbucks, which has 83 coffee shops in China, filed for trademark infringement after the coffee shop opened a second outlet in Shanghai using the same logo. However, the South China Morning Post reported that the coffee shop denied any infringement of Starbucks' trademark and insisted it would not change its name. The lawsuit is being handled by Starbucks' Hong Kong-based law firm Baker & Mackenzie and will be heard by the Second Intermediate People's Court of Shanghai, the newspaper said. \n \n■ Beverages \nCoca-cola denies fraud \n \nThe Coca-Cola Company Friday dismissed fresh accusations it inflated sales figures by shipping surplus beverage concentrate to domestic and overseas bottlers. The world's top soft drink maker was responding to a Wall Street Journal article quoting three former executives who said they witnessed a scam in which Coca-Cola sent the larger-than-needed quantities of concentrate to the bottlers. A Coca-Cola spokesman told reporters there was no basis for the accusations. In 2000, a group of Coca-Cola stockholders filed suit against the company accusing it of shipping a 600-million-dollar surplus of concentrate to bottlers in Japan, North America, Europe and South Africa. \n \n■ Stocks \nJakarta probes irregularities \n \nIndonesia is probing allegations that the local stock market's strong performance in recent months was driven by criminals laundering money through the exchange, a news report said yesterday. Yunus Husein, chairman of the Financial Transaction and Report Analysis Center, said his agency has launched a money laundering investigation in connection with the Jakarta Stock Exchange which reached all-time highs earlier this month. "We don't have any numbers yet but we did receive reports on the matter and an investigations is already under way," Husein said according to The Jakarta Post. Husein could not be reached for further comment. The stock market is up 8 percent this year, after rising 63 percent last year. The bourse was Southeast Asia's second leading performer last year behind Thailand. \n \n■ Airlines \nRyanair loses court battle \n \nRyanair said Friday it would increase its ticket prices after a London court ruled in favor of a disabled man who sued the low-cost Irish carrier for charging him for a wheelchair. Bob Ross, 55, who suffers from cerebral palsy claimed the £18 (US$32) fee he was charged at Stansted airport near London in 2002 was discriminatory. The Central London County Court ruled in his favor and ordered Ryanair to pay £1,336, amounting to twice £18 for the outward and home journeys, £300 for a wheelchair subsequently bought by Ross and £1,000 for injury to his feelings. Disabled groups welcomed the ruling, but a Ryanair spokesman said it was "defective." The company would in future charge every passenger £0.50 to meet the cost of providing wheelchair assistance.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion