Sun, Aug 21, 2011 - Page 11 News List

Business Quick Take



Apple gears up for iPad 3

Apple plans to begin trial production of a next generation iPad in October with an eye to a launch early next year, the Wall Street Journal reported on Friday. The newspaper, citing “people familiar with the situation,” said Apple is working with component suppliers and its assembler in Asia on the iPad 3 and has ordered key components such as display panels and chips. It said the next generation iPad is expected to feature a high resolution 2048-by-1536 pixel display, compared with the 1024-by-768 display on the iPad 2. The Journal quoted one unidentified component supplier as saying that the company had placed parts orders for about 1.5 million iPad 3s in the fourth quarter. Apple sold 9.25 million iPads last quarter.


Target of 9% growth agreed

The nation aims to accelerate the pace of economic growth to 9 percent in the five years beginning in April next year to help cut poverty, Prime Minister Manmohan Singh said. The government had asked the Planning Commission to consider a goal of 9.5 percent, Singh said in New Delhi in an address to Cabinet colleagues and members of the government agency that sets five-year investment targets. The Reserve Bank of India is concerned that growth in excess of 8 percent could fan inflation, underscoring the dilemma policymakers face in raising living standards in Asia’s third-biggest economy, where the World Bank estimates 76 percent of its 1.2 billion people live on less than US$2 a day.


No more stimulus spending

Finance Minister Jim Flaherty said on Friday that the government would stick to its plan to reduce the deficit by 2015 and not spend more money to stimulate the economy, but signaled that could change if the global economy deteriorated dramatically. Flaherty told an emergency meeting of parliament’s finance committee that more government spending is precisely the wrong thing to do. He pointed to Europe where he said too much government spending is the problem. Flaherty also said most economists do not believe there will be another global recession, but said there are certainly risks. Central bank governor Mark Carney said the US and Europe were expected to grow more slowly than thought earlier this year, but said he did not expect the US to slip back into recession.


Epson Korea breached

Epson Korea Co said yesterday that hackers breached the personal data of its 350,000 registered customers last week, the latest in a series of cyber attacks involving a huge number of victims in the country. An official at the South Korean affiliate of Seiko Epson Corp said the company had reported the case to the communications regulator. It said personal information, including telephone numbers, e-mail addresses, names and coded data from customers registered on its Web site had been compromised. South Korea has recently drawn up an intensive cyber security master plan after a wave of hacking attacks against government agencies, companies and financial firms exposed the vulnerabilities of networks in the world’s most wired country. Late last month, hackers attacked the Nate Internet portal and the Cyworld blogging site, both run by SK Comms, accessing the personal information of up to 35 million users in the country’s biggest cyber attack so far.

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