New iPhone lost in bar again
Technology news Web site CNET on Wednesday reported that a new version of Apple’s coveted iPhone went astray in a bar in a replay of an embarrassing loss that took place last year. An Apple employee lost a yet-to-be released iPhone model in a tequila bar in the San Francisco Mission District in July, according to CNET. Apple electronically tracked the device to a San Francisco home, but the resident denied knowing anything about the missing iPhone, which may have been sold for a couple of hundred dollars at online auction house eBay, CNET said. The report prompted speculation whether the missing iPhone was a next-generation model expected to be unveiled by Apple this month or next month.
Brazil cuts interest rate
Brazil’s central bank on Wednesday made a surprise half-point cut in its main interest rate to 12.0 percent, citing a “deterioration” in the global economic outlook. The move reverses course for the South American economic power, which had seen a series of rate hikes over more than a year to rein in inflation. Many analysts had expected the central bank to keep its main rate unchanged, but the monetary policy committee said it took the action in the face of weaker forecasts from the world’s main economic blocs. The vote on the committee was 5-2. Finance Minister Guido Mantega meanwhile said that Brazil “must act as a protective measure to stop worsening [global] economic conditions from affecting Brazil’s economic strides.”
Inflation rate races up
Thailand’s inflation rate accelerated last month to the fastest pace since 2008 as rising food prices countered a decline in oil costs. An index of consumer prices climbed 4.29 percent from a year earlier, the Ministry of Commerce said yesterday, compared with a 4.08 percent pace in July. The median of 11 estimates in a Bloomberg News survey was for a 4 percent gain. The Bank of Thailand signaled it may be nearing the end of monetary tightening after raising the benchmark interest rate for the seventh straight meeting last month.
Sony eyes Android market
Sony Corp says its goal is to become the biggest player in Japan’s growing Android tablet market. The Japanese electronics and entertainment giant, which unveiled its first tablets to the world on Wednesday, is also taking aim at the iPad’s commanding lead on its home turf. Sony will launch Japan sales of the Tablet S on Sept. 17. The smaller, dual-screened Tablet P will hit stores by November. Sony marketing executive Akihiro Matsubara said in Tokyo yesterday that Japan’s tablet market is expected to hit 2 million units this fiscal year through March and expand to 3.2 million the following year. The iPad holds about 85 percent of Japan’s tablet market, though Android-based tablets are expected to gain ground.
IBM agrees to buy i2
IBM has agreed to buy British security analytics software firm i2 for an undisclosed sum, it said on Wednesday, as it continues to devour companies that can help its clients deal with growing mountains of data. Privately held i2, which says its software helped US forces track down former Iraqi president Saddam Hussein in 2003, is based in the English university town of Cambridge and has 350 staff in Britain, the US, Canada and Australia.
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