The EU is ready to adopt decisive measures to tackle its sovereign debt crisis, French Prime Minister Francois Fillon said yesterday.
“Member states, including France and Germany, and various EU institutions are ready to take decisive measures,” Fillon, in Japan until yesterday, told reporters through a translator after meeting Japanese Prime Minister Yoshihiko Noda.
EU leaders were scheduled to hold talks yesterday to try and hammer out a comprehensive plan to tackle the eurozone debt -crisis, but a breakthrough was not expected until another summit on Wednesday.
Noda said that Japan, the world’s third-biggest economy, and France, agreed to cooperate over global economic issues.
“We have agreed to cooperate over how to respond to the global economy ahead of the G20 Cannes summit, including on the pressing issue of Europe’s debt,” he told reporters.
France hosts the G20 summit early next month and Europe’s efforts to contain its debt crisis will be a key issue on the summit agenda.
Fillon said that France’s priority for the G20 summit was to fix global economic imbalances and to coordinate economic policies among various nations.
Fillon and Noda also agreed to work together to enhance nuclear safety and bilaterally discuss energy policy, seven months after the world’s worst atomic crisis in 25 years unfolded at the Fukushima Dai-ichi nuclear power plant in northeast Japan.
The two countries would cooperate in cleaning up areas contaminated by radioactive materials released from the plant, crippled by a huge earthquake and tsunami that struck in March, the leaders said in a statement.
They will also push for peer reviews of nuclear plants, or inspections organized by the UN’s atomic watchdog and set up a bilateral committee to discuss nuclear energy, the leaders said in the statement.
France is the world’s most nuclear-dependent country. After the Fukushima crisis, French nuclear operator Areva sold its equipment to decontaminate radioactive water to Tokyo Electric Power Co, the Fukushima plant owner.
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
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
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
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