Sharp sues Samsung
Sharp Corp, Japan's biggest maker of liquid-crystal-display televisions, filed a lawsuit yesterday against Samsung Electronics Co, alleging infringement of patents in LCD modules. Sharp is seeking damages and a halt in Samsung's production and sale of LCD TVs and modules in South Korea that infringe on three of its patents, the firm said in an e-mailed statement. The suit, at the Seoul Central District Court, follows a filing by Sharp in the US on Aug. 6 against Samsung, the world's largest liquid-crystal- display maker, and two of its subsidiaries. The patents in the Korean case are for technologies to "achieve high brightness and high-speed response, as well as a wide-viewing angle," Sharp said.
China to end ban on JVs
China will soon end a ban on foreign investment banks setting up joint ventures, a concession that falls short of US calls for sweeping access to the world's best- performing capital market. The China Securities Regulatory Commission will start accepting applications from "qualified" local brokerages to set up ventures with foreign investors, the regulator said in a statement on Tuesday. The regulator will "in a few days" announce rules on relaxing requirements for foreign investors seeking stakes in Chinese partners.
Crown to buy Cannery
Crown Ltd, Australia's largest casino company, said yesterday it had agreed to buy privately held Cannery Casino Resorts for US$1.75 billion. Crown, which has a market capitalization of A$9.42 billion (US$8.25 billion), split from James Packer's Publishing & Broadcasting Ltd earlier this month after investors endorsed a plan to split PBL's gambling assets and media businesses into two separately listed firms. Crown CEO Rowen Craigie said the purchase of Cannery Casino was "strategically and financially compelling" for the company, which has acquired businesses in Canada, the US and Macau amid competition concerns in its home territory. The deal still needs regulatory approval in the US.
Infineon sets sales target
Infineon Technologies AG, Europe's second-largest semiconductor maker, expects sales growth of as much as 10 percent for fiscal 2008 compared with the prior year, excluding its memory-chip unit Qimonda AG. For fiscal 2009, the company forecast an earnings before interest and taxes margin, before extraordinary items and excluding Qimonda, of about 10 percent, the company said in its annual regulatory filing on Tuesday. Infineon last month said its fiscal fourth-quarter loss swelled to US$410 million after prices at its Qimonda division fell. CEO Wolfgang Ziebart plans to reduce the stake in the unit to "significantly" less than 50 percent by Infineon's annual meeting in 2009.
Men's wear auction held
A first-off auction of "vintage" designer wear for men at Paris' Drouot auction house fetched a higher-than-expected 134,200 euros (US$197,200) on Tuesday. While vintage womens-wear sales are frequent, the sale of 485 items of clothing and accessories made by some of Europe's top couturiers between 1960 and 2000 was a first in Paris. The bestseller was a 1992 autumn-winter woolen gabardine jacket designed by Jean Paul Gaultier that went for 7,930 euros, the auctioneers said.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate
‘SENSITIVE MARKETS’: The previously unannounced project would involve the company handing over control of data to a third party to sidestep privacy concerns Google has abandoned plans to offer a major new cloud service in China and other politically sensitive countries due in part to concerns over geopolitical tensions and the COVID-19 pandemic, two employees familiar with the matter said, revealing the challenges for US tech giants to secure business in those markets. In May, the search giant shut down the initiative, known as “Isolated Region” and which sought to address nations’ desires to control data within their borders, the employees said. The action was considered a “massive strategy shift,” said one of the employees, who added that Isolated Region had involved hundreds of employees