STOCK MARKETS
S Korea places new limits
South Korea’s financial regulators will limit the number of derivative equity contracts an investor can hold as authorities continue investigating the cause of a plunge in the KOSPI on Nov. 11. Institutional investors will be allowed a maximum 10,000 futures and options contracts in any “speculative” or open and unhedged transaction, the South Korean Financial Services Commission said in an e-mailed statement yesterday, without saying when the new rule will become effective. While institutions are now limited to 7,500 futures contracts and individuals can hold 5,000 futures contracts, there are no limits on options. “The measures are aimed at sounder and more efficient markets by easing risks stemming from derivatives investments,” it said.
AUTOMAKERS
Prius ranks No. 1 in Japan
Toyota Motor Corp’s Prius hybrid ranked as Japan’s top-selling car last year, with annual sales hitting an all-time high, bucking the fallout from a series of massive global recalls, an auto industry group said yesterday. Toyota sold a record 315,669 Prius cars in its home market last year, up 51 percent from 2009, the Japan Automobile Dealers Association said. The world’s No. 1 automaker has recalled more than 11 million vehicles worldwide, including the Prius, since late 2009 because of acceleration and braking problems.
RETAIL
Sales up at Marks & Spencer
Marks & Spencer Group PLC, the UK’s largest clothing retailer, said pre-Christmas revenue increased as the company sold more items, including Fair Isle knitwear, accessories and sleepwear. Sales at UK stores open more than a year increased 2.8 percent in the 13 weeks to Jan. 1, the company said yesterday in a statement. UK food sales on the same basis rose 1.8 percent, while general-merchandise sales increased 3.8 percent. The median estimate of 17 analysts surveyed by Bloomberg was for a 1.9 percent rise in same-store food sales and 3.2 percent for general merchandise.
ELECTRONICS
AMD seeks new CEO
Advanced Micro Devices Inc (AMD) is looking for a leader to replace ousted chief executive Dirk Meyer who can do a better job combating Intel Corp and getting chips into new devices. Under Meyer, directors were frustrated with AMD’s lack of progress in gaining market share and entering the tablet-computer industry, according to people familiar with the board’s deliberations. The company announced on Monday that Meyer had resigned and that it had formed a committee to find successor. “They need someone who has the passion to disrupt the market,” said Hans Mosesmann, an analyst at Raymond James & Associates in St Petersburg, Florida.
EMPLOYMENT
European openings rise
European job advertisements on the Internet held at the highest in two years last month, online-recruiting company Monster Worldwide Inc said. The Monster Employment Index Europe was at 122 for a third month, indicating a 22 percent increase from a year earlier, New York-based Monster said in a report yesterday. Last month’s reading is the highest since December 2008, when the index was at 132. “This shows that although the employment market is more positive than last year, a degree of uncertainty remains,” Andrea Bertone, head of Monster Europe, said in the statement. “It seems that many employers are waiting to see a clearer picture emerge before embarking on wider staff expansion.”
purpose: Tesla’s CEO sought to meet senior Chinese officials to discuss the rollout of its ‘full self-driving’ software in China and approval to transfer data they had collected Tesla Inc CEO Elon Musk arrived in Beijing yesterday on an unannounced visit, where he is expected to meet senior officials to discuss the rollout of "full self-driving" (FSD) software and permission to transfer data overseas, according to a person with knowledge of the matter. Chinese state media reported that he met Premier Li Qiang (李強) in Beijing, during which Li told Musk that Tesla's development in China could be regarded as a successful example of US-China economic and trade cooperation. Musk confirmed his meeting with the premier yesterday with a post on social media platform X. "Honored to meet with Premier Li
ARTIFICIAL INTELLIGENCE: The chipmaker last month raised its capital spending by 28 percent for this year to NT$32 billion from a previous estimate of NT$25 billion Contract chipmaker Powerchip Semiconductor Manufacturing Corp (力積電子) yesterday launched a new 12-inch fab, tapping into advanced chip-on-wafer-on-substrate (CoWoS) packaging technology to support rising demand for artificial intelligence (AI) devices. Powerchip is to offer interposers, one of three parts in CoWoS packaging technology, with shipments scheduled for the second half of this year, Powerchip chairman Frank Huang (黃崇仁) told reporters on the sidelines of a fab inauguration ceremony in the Tongluo Science Park (銅鑼科學園區) in Miaoli County yesterday. “We are working with customers to supply CoWoS-related business, utilizing part of this new fab’s capacity,” Huang said, adding that Powerchip intended to bridge
Dutch brewing company Heineken NV on Friday announced an investment of NT$13.5 billion (US$414.62 million) over the next five years in Taiwan. The first multinational brewing company to operate in Taiwan, Heineken made the statement at a ceremony held at its brewery in Pingtung County. It also outlined its efforts to make the brewery “net zero” by 2030. Heineken has been in the Taiwanese market for 20 years, Heineken Taiwan managing director Jeff Wu (吳建甫) said. With strong support from local consumers, the Dutch brewery decided to transition from sales to manufacturing in the country, Wu said. Heineken assumed majority ownership and management rights
Microsoft Corp yesterday said that it would create Thailand’s first data center region to boost cloud and artificial intelligence (AI) infrastructure, promising AI training to more than 100,000 people to develop tech. Bangkok is a key economic player in Southeast Asia, but it has lagged behind Indonesia and Singapore when it comes to the tech industry. Thailand has an “incredible opportunity to build a digital-first, AI-powered future,” Microsoft chairman and chief executive officer Satya Nadella said at an event in Bangkok. Data center regions are physical locations that store computing infrastructure, allowing secure and reliable access to cloud platforms. The global embrace of AI