easyJet to buy Airbus planes
British no-frills airline easyJet yesterday said it had agreed to buy 15 Airbus A320 single-aisle planes worth US$1.1 billion and had secured an option to buy another 33. “easyJet PLC today announced that it has reached agreement with Airbus to exercise existing options over 15 Airbus A320 aircraft for delivery between 2012 and 2014 and to secure new options over a further 33 A320 aircraft,” the company said. It added that “whilst the total list price for the 15 new A320 aircraft should be approximately US$1.1 billion ... easyJet has been granted substantial confidential price concessions” from European planemaker Airbus.
San Miguel eyes shipping
San Miguel Corp one of the Philippines’ largest companies, said yesterday it was planning a big investment in the local shipping industry, after a unit acquired a substantial stake in a Manila port. The company famous for its beer said it was setting aside an initial 20 billion pesos (US$457.5 million) for a project to house the supply requirements of its increasingly diverse businesses at a Manila harbor. “We advise that the company and its subsidiaries are evaluating the viability of constructing a centralized and integrated logistics complex within the Manila North Harbor area,” the listed firm said in a market disclosure.
Motorola splits into two
Motorola split into two companies yesterday, marking the final step in the years-long breakup of the consumer electronics industry pioneer. Motorola began selling car radios in the 1930s, followed by TVs in the ‘40s and cellphones in the ‘80s. The breakup that began in 2008 is motivated by the desire to present two simple businesses to investors rather than one complicated one. Motorola split its consumer-oriented side, which makes cellphones, from the professional business of selling police radios and barcode scanners to government and corporate customers. The companies, Motorola Mobility and Motorola Solutions, began trading on the New York Stock Exchange yesterday.
Hotmail back to normal
Microsoft Corp’s Hotmail service, the world’s most-used online e-mail system, is back to normal operations on Monday after some users over the weekend lost access to e-mails or found them transferred to a deleted mail folder. The world’s largest software company, which has more than 360 million Hotmail users, said it had “restored full e-mail access and recovered content to those who were affected.” Microsoft’s online message boards and Twitter were abuzz with complaints on Sunday about the Hotmail glitch. Microsoft said it was still investigating the root cause of the problem, which started four days ago.
US bankruptcies rise 9%
US consumer bankruptcy filings rose 9 percent last year compared with 2009, reaching 1.53 million, according to the American Bankruptcy Institute — lower than its projection that bankruptcies would total 1.6 million. The pace of bankruptcy filings slowed in the last quarter, with fewer petitions in October and November than during the same period a year earlier, the Alexandria, Virginia-based institute said. The slowdown at the end of the year was the result of more consumers reducing debt and cutting spending, institute executive director Samuel Gerdano said on Monday.
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
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
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
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