■ Food
Study on chickens unveiled
Tyson Foods Inc, the world's largest meat producer, says using gas in killing chickens does not seem to be more humane than electrocuting them. But the company is seeking further study before changing its practice. Tyson recently completed a two-year study on using "controlled atmosphere stunning" to knock chickens out before they are slaughtered. The company now uses "electrical stunning" when preparing to slaughter the birds. Tyson processes 43 million chickens a week. "While our research has concluded controlled atmosphere stunning may be an acceptable alternative, we have not currently found it to be more humane than conventional electrical stunning," Bill Lovette, senior group vice president of Poultry and Prepared Foods for Tyson Foods, said in a statement.
■ Music
Tower Records sold
Tower Records, the 46-year-old music retailer that sought bankruptcy protection in August, was sold to a group led by liquidator Great American Corp for US$134.3 million. Liquidation sales will begin this weekend at Tower's 89 stores in 20 states and all of them will probably close by the end of the year, Tom Pabst, chief administrative officer for Los Angeles-based Great American, said on Friday. Tower's 3,000 employees will lose their jobs, he said. Tower's parent, closely held MTS Inc, sought protection in August after competition from online retailers, Internet downloads and discounters caused same-store sales to slump 9 percent in a year.
■ Oil
Caracas to aid Vietnam
Venezuelan President Hugo Chavez said his country planned to help build an oil refinery in Vietnam and could use funds earned in his government's recent sale of its share in a Texas refinery. Chavez announced the plan on Friday night in a speech as Venezuela signed 13 accords with visiting officials from Vietnam to cooperate in areas from mining to electrical projects. He said Venezuela could use the proceeds from the August sale of its minority share in the Lyondell-Citgo refinery in Texas. The deal was valued at some US$2.1 billion.
■ Finance
Thai banker enters Cabinet
Bank of Thailand Governor Pridiyathorn Devakula said he would take two positions in the nation's new interim Cabinet and be responsible for the government's economic policies. Pridiyathorn yesterday told reporters he would head the economic team, without specifying whether he will run finance, commerce or other ministries. Thailand's economy will grow faster next year than this year as political stability, higher government spending and lower oil prices boost confidence, Pridiyathorn said on Oct. 3.
■ Investment
Indian FDI nearly doubles
India's booming economy drew a record US$2.9 billion in foreign direct investment (FDI) in the first four months of the fiscal year, nearly double last year's amount, a report said yesterday. "FDI inflows in April-July 2006-2007 increased by 92 percent to US$2.9 billion from US$1.5 billion in the same period of the last fiscal year," Commerce Minister Kamal Nath said, according to the Press Trust of India. "India is set to receive US$12 billion this year as against US$8.3 billion in 2005-2006," Nath said in New Delhi. India's economy expanded by 8.9 percent in the first quarter to June after growing by 8.4 percent in the financial year ended March 31.
China has claimed a breakthrough in developing homegrown chipmaking equipment, an important step in overcoming US sanctions designed to thwart Beijing’s semiconductor goals. State-linked organizations are advised to use a new laser-based immersion lithography machine with a resolution of 65 nanometers or better, the Chinese Ministry of Industry and Information Technology (MIIT) said in an announcement this month. Although the note does not specify the supplier, the spec marks a significant step up from the previous most advanced indigenous equipment — developed by Shanghai Micro Electronics Equipment Group Co (SMEE, 上海微電子) — which stood at about 90 nanometers. MIIT’s claimed advances last
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has appointed Rose Castanares, executive vice president of TSMC Arizona, as president of the subsidiary, which is responsible for carrying out massive investments by the Taiwanese tech giant in the US state, the company said in a statement yesterday. Castanares will succeed Brian Harrison as president of the Arizona subsidiary on Oct. 1 after the incumbent president steps down from the position with a transfer to the Arizona CEO office to serve as an advisor to TSMC Arizona’s chairman, the statement said. According to TSMC, Harrison is scheduled to retire on Dec. 31. Castanares joined TSMC in
EUROPE ON HOLD: Among a flurry of announcements, Intel said it would postpone new factories in Germany and Poland, but remains committed to its US expansion Intel Corp chief executive officer Pat Gelsinger has landed Amazon.com Inc’s Amazon Web Services (AWS) as a customer for the company’s manufacturing business, potentially bringing work to new plants under construction in the US and boosting his efforts to turn around the embattled chipmaker. Intel and AWS are to coinvest in a custom semiconductor for artificial intelligence computing — what is known as a fabric chip — in a “multiyear, multibillion-dollar framework,” Intel said in a statement on Monday. The work would rely on Intel’s 18A process, an advanced chipmaking technology. Intel shares rose more than 8 percent in late trading after the
FACTORY SHIFT: While Taiwan produces most of the world’s AI servers, firms are under pressure to move manufacturing amid geopolitical tensions Lenovo Group Ltd (聯想) started building artificial intelligence (AI) servers in India’s south, the latest boon for the rapidly growing country’s push to become a high-tech powerhouse. The company yesterday said it has started making the large, powerful computers in Pondicherry, southeastern India, moving beyond products such as laptops and smartphones. The Chinese company would also build out its facilities in the Bangalore region, including a research lab with a focus on AI. Lenovo’s plans mark another win for Indian Prime Minister Narendra Modi, who tries to attract more technology investment into the country. While India’s tense relationship with China has suffered setbacks