■ Web site unveiled
The government introduced a Web site yesterday designed to improve computer users' knowledge about information security. The site, www.nicst.nat.gov.tw, is designed to boost the public's awareness of Internet security issues in order to safeguard computers from hackers and other cyber threats, said Rhonda Chen (陳如芬), researcher from the Science and Technology Advisory Group under the Executive Yuan, at a media briefing. Via the new Web site, users will be able to play games related to information security and download a guide on how to access the Internet safely, she said. The advisory group aims to gauge the nation's knowledge on Internet security via the public participation, which will serve as a base for future policies formulation, Chen said.
■ Oistamo to replace Kallasvuo
Nokia Corp yesterday named Kai Oistamo to succeed Olli-Pekka Kallasvuo as head of the mobile phones unit on Oct. 1, when Kallasvuo takes over as president and chief operating officer of the world's largest cellphone maker. Oistamo, 40, who heads the business line management of the mobile phones unit, joined Nokia in 1991. The appointment follows last month's announcement that longtime Nokia chief executive Jorma Ollila will step down next year. Kallasvuo will take over as chief executive in June 2006. Ollila, 54, steered the producer of cables, tires and consumer electronics past Motorola Corp to become the world's largest mobile phone maker during 13 years at the helm of the Finnish company.
■ Typhoon affects water
Torrential rains brought by Typhoon Talim polluted water supplies in Taiwan, causing shortages in nearly 20,000 manufacturers in seven industrial zones in Taoyuan County, according to the Ministry of Economic Affairs. Water supply to the country's southern Jenta Industrial District and Tashe Industrial District has been cut by one-third since yesterday, according to the two industrial districts.
■ Finance firm to sell shares
China Development Financial Holding Corp (中華開發金控), Taiwan's fifth-biggest financial services company by market value, said it plans to sell as much as US$318 million of stock overseas to fund expansion. The proceeds will also be used for its US dollar- denominated financing, the company said in a statement to the Taiwan Stock Exchange on Aug. 30. The company will sell global depositary receipts, it said, without specifying the timing of the planned sale.
■ China Motor's sales fall
China Motor Co (中華汽車), which makes Mitsubishi Motor Corp vehicles in Taiwan, had a 49 percent decline in second-quarter profit after sales dropped. Net income fell to NT$1.2 billion (US$37 million) from NT$2.36 billion a year earlier. The figure was derived by subtracting first-quarter from first-half profit announced by the company today. China Motor's second-quarter sales, reported earlier, dropped 22.4 percent to NT$13.1 billion. China Motor, Taiwan's biggest automaker by market value, posted a 40 percent decline in first-quarter profit to NT$1.12 million as production costs increased and sales growth stalled.
■ NT dollar rises
The New Taiwan dollar recovered its recent weakness against its US counterpart, rising NT$0.222 to close at NT$32.529 on the Taipei foreign exchange market. Turnover was US$1.07 billion, compared to US$1.11 billion on Wednesday. The forex market was closed on Thursday due to Typhoon Talim.
From the customer’s perspective, car rental is a straightforward business. The only uncertainty is whether the hire company will charge you for the scratch they discover when you hand back the vehicle. Hertz Global Holdings Inc’s bankruptcy protection filing on Friday last week was a reminder that today even the simplest business models are underpinned by a lot more financial complexity than meets the eye. The proximate cause of Hertz’s demise was of course the sudden collapse in bookings caused by COVID-19 travel restrictions. The company’s monthly revenue last month fell 73 percent year-on-year, a shortfall that even the most resilient
Uber Technologies Inc, Lyft Inc and Airbnb Inc have slashed thousands of jobs. Salesforce.com Inc and Visa Inc are letting employees work remotely for months; Twitter Inc and Square Inc are allowing them to do so for good. For the companies’ hometown of San Francisco, the moves are early signs of a dire blow. In a city with a long history of booms, busts and natural calamities, the COVID-19 pandemic has suddenly upended nearly a decade of prosperity. While municipalities across the US are grappling with economic fallout from the virus, San Francisco stands to take a deeper hit given its high
BULK PURCHASE: The French chain and Hong Kong-based Dairy Farm International reached a deal covering 224 stores, which is expected to be finalized by year’s end Carrefour SA yesterday announced it would acquire Wellcome Taiwan Co (惠康百貨) for 97 million euros (US$108.33 million), and bring all the Wellcome supermarkets (頂好超市) and Jasons Market Place stores nationwide under its banner within 12 months of the deal closing. The France-based hypermarket chain reached an agreement with Hong Kong-based Dairy Farm International Holdings (牛奶國際控股), the pan-Asian retailer that launched Wellcome Taiwan in 1987. The transaction involves 199 Wellcome supermarkets, which have average sales areas of 420m2 and 25 high-end Jasons Market Place stores, which have an average sales area of 820m2, as well as a warehouse in Taoyuan, Carrefour Taiwan (家樂福)
‘ONE-STOP SHOP’: A Miaoli official said that the factory in the Jhunan section of the Hsinchu Science Park would create more than 1,000 jobs and boost prosperity A new high-end IC packaging and testing plant planned by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in Miaoli County is expected to start operations in the middle of next year, Miaoli County Commissioner Hsu Yao-chang (徐耀昌) said. Hsu wrote on Facebook that TSMC, the world’s largest pure wafer foundry operator, would invest NT$303.2 billion (US$10.1 billion) to build the plant, the largest-ever single investment in Taiwan. However, TSMC declined to disclose the financial terms of the deal, while a company board meeting on May 12 approved a spending plan worth NT$168.2 billion as part of its investment plans. Construction of the