US clears McAfee deal
Intel said on Tuesday that US anti-trust regulators have cleared its US$7.68 billion acquisition of computer security firm McAfee, but the deal is still being examined in Europe. “The Federal Trade Commission has concluded its review of the proposed McAfee transaction and has cleared it,” Intel vice president for investor relations Kevin Sellers said in a note on Intel’s investor relations Web site. “We are continuing to work with the staff at the European Commission as they continue their review,” Sellers added.
Dreamliner delivery delayed
Boeing Co’s Japan unit will explain delays in delivering its 787 Dreamliner aircraft within several weeks, said Michael Denton, president of the unit of the world’s second-biggest planemaker. “We are aware that we caused great disappointment to our customers,” Denton told reporters yesterday in Tokyo. “We will do everything we can” to deliver the aircraft. All Nippon Airways Co is scheduled to receive the first 787 in the first quarter of next year after a series of delays.
Dubai World cuts stakes
Dubai World’s port management arm said yesterday it is cutting its stake in five Australian ports through a deal with Citi valued at US$1.5 billion. Under the terms of the agreement, DP World will continue to manage the ports in Brisbane, Sydney, Melbourne, Adelaide and Fremantle. It says it will “monetize,” or sell off, 75 percent of its shares in the Australian operations. Unloading its stake to New York-based Citigroup’s Citi Infrastructure Investors will help the sea cargo handler pay down debt while remaining active in the Australian market.
Nike misses expectations
Nike Inc posted future orders data that missed many analysts’ expectations on Tuesday, sending shares of the world’s largest athletic shoe and clothing maker down almost 6 percent. Nike also said it might undertake some targeted price increases to help offset rising cotton costs. Future orders, excluding currency exchange rates — a key measure of sales growth — rose 11 percent. Nike’s net income in the fiscal second quarter rose 22 percent to US$457 million, or US$0.94 a share, from US$375 million, or US$0.76 a share, in the year-earlier period.
Trade with China jumps
Booming iron ore and coal exports boosted commerce between Australia and top trading partner China by 8.8 percent this year and more than trebled it over the past decade, data showed yesterday. The trade department said China remained Australia’s largest export market with total shipments growing to A$90.3 billion (US$89.7 billion) — 17.6 percent of total trade — over the 12 months to June.
IMF sells 403 tonnes of gold
The IMF said on Tuesday it had completed the sale of more than 403 tonnes of gold, part of a two-year drive to shore up the multinational lender’s finances. There were no immediate details of the final sale, but the IMF has previously announced the sale of 200 tonnes to India, 10 tonnes to Mauritius, 10 tonnes to Sri Lanka and 10 tonnes to Bangladesh. The sale to those countries was said to be around US$7.6 billion. IMF members agreed in 2008 that the fund could sell an eighth of its gold assets in order to diversify its financial model so that it no longer relies on lending.
PLANNED OUT: The government is lifting sale and export restrictions on 60% of the 20 million masks made daily, but people can still make purchases using their NHI cards Twenty thousand boxes of 50 masks each would be on sale at FamilyMart convenience stores starting tomorrow, Taiwan FamilyMart Co Ltd (全家便利商店) said yesterday. A box of 50 masks would cost NT$249 for those with FamilyMart memberships and NT$299 for those without, with no limits placed on how many boxes a person can buy, the company said. Convenience store chain operator Hi-Life International Co Ltd (萊爾富) said that it would also start selling masks from tomorrow. It has yet to announce details about prices and quantity. Hypermarket chain operator Carrefour Taiwan (家樂福) said that it would start selling packs of five
Delta Electronics Inc (台達電), the nation’s leading power management solutions provider, has signed an agreement to acquire Canadian software firm Trihedral Engineering Ltd to bolster its smart production efforts, it said on Saturday. Delta said in a statement that it would acquire Trihedral for C$45 million (US$32.68 million) through its 100 percent-owned subsidiary Delta Electronics (Netherlands) BV. Trihedral specializes in supervisory control and data acquisition (SCADA) and industrial Internet of Things software, which would strengthen Delta’s hardware offerings in fast-growing areas such as automation, artificial intelligence and data analytics, it said. “The collection, monitoring and analyzing of data are critical to Delta’s two
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
BOOSTING BUYING: A source said that the idea of pre-ordering vouchers online is being considered, but the preliminary plan is for people to buy them at post offices A stimulus voucher program to be rolled out next month to boost consumption would be available not only to Taiwanese, but also foreign nationals and Chinese spouses who hold residency permits, a source familiar with the matter said yesterday. The government is fine-tuning the details of the program, which involves issuing vouchers for in-store purchases to revive buying amid the COVID-19 pandemic. During a radio interview on Monday last week, National Development Council (NDC) Minister Kung Ming-hsin (龔明鑫) said that the plan is to allow anyone, regardless of age or income level, to buy NT$3,000 (US$99.89) worth of vouchers for