Nissan to monitor radiation
Nissan Motor said yesterday it would monitor all its vehicles made in Japan for radioactivity, amid international concern over efforts to avert a nuclear catastrophe at a stricken atomic plant. “We will continue to implement all appropriate measures to reassure the public that all products from our company remain within globally accepted safety standards,” the company said in a statement. The testing will continue “until we are confident that any risk of contamination is completely removed,” the automaker said. Attempts are being made by the Japan Self-Defense Forces to douse fuel rods and prevent a calamitous radiation release at the Fukushima Dai-ichi power station.
Diet Coke takes Pepsi’s spot
Diet Coke has knocked full-calorie rival Pepsi from the No. 2 slot on list of most popular US soft drinks, handing Coca-Cola the top two spots, an industry report said on Thursday. Beverage Digest said Diet Coke leaped into second place, securing about 10 percent of the market, in a major setback for rival Pepsi. Diet Coke sold 927 million cases and Pepsi 892 million for the year. Regular Coke retained its strangle hold on the top spot, with US$74 billion in sales and 17 percent market share.
RBS, ING maintain high pay
Bailed-out European banks Royal Bank of Scotland (RBS) and ING paid many of their top staff more than US$1 million each last year, reigniting criticism over bankers’ pay. Dutch opposition parties said in parliament on Thursday they were “shocked” about bonuses that ING had paid to its executive board, which were between 80 and 93 percent of fixed annual salaries or between 600,000 euros (US$840,700) and 1.25 million euros. “People on the street face difficulties. They don’t understand this. Don’t do this,” ChristianUnion MP Arie Slob told Dutch Minister of Finance Jan Kees de Jager in parliament. British lender RBS paid an average of ￡1.2 million (US$1.94 million) each to more than 300 senior bankers last year, according to its remuneration report on Thursday.
General Mills ready to buy
General Mills Inc is prepared to pay US$2.22 billion for a majority stake in Yoplait to beat out competitors for the French yogurt company, according to published reports. The Wall Street Journal reported on Thursday, citing a person familiar with the matter it did not name, that the US food maker would beat out seven bidders for the 51 percent stake in Yoplait held by French investment fund PAI Partners. General Mills already has a relationship with Yoplait. The food company has manufactured Yoplait products for 30 years in the US.
Gold nugget bid above value
A bidder has paid US$460,000 for a roughly 3.6kg gold nugget found in Northern California’s Gold Rush country. Spectrum Numismatics came away with the nugget on Wednesday after a feverish two minutes of bidding at the Golden West Auction in Sacramento. The company was bidding on behalf of an anonymous buyer. What may be the biggest California gold nugget in existence was found in the unincorporated town of Washington in Nevada County in March last year with a metal detector. At current gold prices, the nugget would have fetched less than US$138,000, but auctioneers said its connection to the 19th
POOR INTERNAL CONTROLS: Insurance Bureau Director-General Shih Chiung-hwa said the company is expected to get back on track while its chairman is suspended The Financial Supervisory Commission (FSC) yesterday fined Shin Kong Life Insurance Co (新光人壽) NT$27.6 million (US$939,415) for a reckless investment that endangered its solvency, and suspended its chairman Eugene Wu (吳東進) for poor supervision. The penalty is the second-highest in a single case after Nan Shan Life Insurance Co (南山人壽) was fined NT$30 million in September last year and its chairman Du Ying-tzyong (杜英宗) suspended for two years, the commission said. In three rounds of special and regular examinations conducted since last year, the commission found that Shin Kong Life had given too much power to an asset and liability management committee
HEAVY INVESTMENT: Moody’s affirmed the firm’s ‘Aa3’ rating with a ‘stable’ outlook due to its leading position in the industry and ability to match customer requirements Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue this year is expected to increase about 21 percent to NT$1.29 trillion (US$44.01 billion) from NT$1.07 trillion last year, driven by strong demand for advanced 5-nanometer and 7-nanometer chips mainly used in smartphones and high-performance computing devices, a Moody’s Investors Service report on Wednesday said. TSMC’s rate of revenue growth next year is to increase to 7.5 percent, the ratings agency said. The company, which supplies 5-nanometer chips for Apple Inc’s new iPad series, has introduced the advanced chips ahead of its competitors and gained a significant share of the market for the foundry industry’s
Sony Corp has cut its estimated Play Station 5 (PS5) production for this fiscal year by 4 million units, down to about 11 million, following production issues with its custom-designed system-on-chip (SOC) for the new console, people familiar with the matter said. The Tokyo-based electronics giant in July boosted orders with suppliers in anticipation of heightened demand for gaming in the holiday season and beyond, as people spend more time at home due to the COVID-19 pandemic. However, the company has come up against manufacturing issues, such as production yields as low as 50 percent for its SOC, which have cut into
O2O BICYCLE SHOW: The Taiwan Bicycle Show next year is to be online to offline, with forums, audio-visual conferences and livestreaming of the offline events Local bicycle makers expect demand to continue outpacing supply due to orders triggered by the COVID-19 pandemic, with some companies seeing orders back up through next year. “Next year is all full in terms of orders. Our lead time on components is one year,” Giant Manufacturing Co Ltd (巨大機械) chairwoman Bonnie Tu (杜綉珍) told a news conference in Taipei organized by the Taiwan External Trade Development Council (TAITRA) to announce next year’s Taipei Cycle Show. The pandemic has reduced bicycle supplies and increased demand around the world, Robert Wu (吳盈進), chairman of KMC (Kuei Meng) International Inc (桂盟國際), one of the world’s