Judge urges firms to settle
A US federal judge appeared ready to trim millions from a US$1.05 billion jury verdict Apple Inc won over Samsung Electronics this summer as she urged the two smartphone companies to settle their myriad legal actions around the world. US District Judge Lucy Koh said on Thursday she would issue a series of rulings over the next several weeks resolving the many legal issues raised at the hearing on Thursday. Samsung is seeking a new trial or a reduction of the verdict that resulted from a lawsuit Apple filed last year. Apple, on the other hand, urged the judge to add millions more to the award and permanently ban the US sales of eight Samsung smartphone models.
US to probe silica trade
Washington on Thursday announced a new trade probe aimed at China, investigating alleged dumping of silica bricks into the US market by Chinese producers. Responding to a complaint by Utah Refractories Corp, the US Department of Commerce said that it would investigate whether Chinese producers were selling the bricks into the US market at less than fair value. Imports of Chinese-made silica bricks, refractory materials used for lining high-temperature furnaces, jumped from US$19.7 million in 2009 to US$43.2 million last year, the department said.
Unemployment rate rises
The unemployment rate rose to a new record of 26 percent in September, underscoring the economic plight in the country as it heads toward a sixth year of recession. The Greek Statistical Authority said on Thursday that 1.295 million people — more than a fourth of the workforce in this nation of 10 million — were recorded as unemployed in September. Unemployment rose from 25.3 percent the previous month and 18.9 percent a year earlier.
Trade deficit decreases
The trade deficit shrank by 6.2 percent in October from September to 4.69 billion euros (US$6.1 billion) because of increases in exports of chemicals, refined oil products and grains, the customs service said yesterday. In the 12 months to September the trade deficit came in at 66.7 billion euros. Last year the trade deficit totalled 73.7 billion euros. Exports rose by 0.6 percent over the month to hit 37.8 billion euros in October according to seasonally adjusted data.
Export shipments drop
Shipments by export-dependent Malaysia slipped in October as demand from the increasingly important Chinese market dropped sharply, the government said yesterday. Total exports contracted 3.2 percent year-on-year as the lower shipments to China removed a buffer that has helped shield trade from the impact of the eurozone troubles. October exports were valued at 61.29 billion ringgit (US$20.08 billion), down from 63.35 billion ringgit in October last year, the trade ministry said.
Holiday group posts profit
French holiday group Club Mediterranee yesterday posted a stable net profit of 2 million euros (US$2.6 million) for its reporting year this year, despite a slowdown in its main market in Europe as it continued to target developing markets. The travel and leisure specialist, which returned to profitability last year, said that given the uncertain outlook for the European economy it would not pay a dividend.
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
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
’WHITE BOX’: The open platform would give local firms access to Cisco’s cloud-based mobile network to develop 5G telecom equipment and tap into the global market The Ministry of Economic Affairs (MOEA) yesterday introduced a new 5G “open lab” in collaboration with US-based information technology and networking giant Cisco Systems Inc to address the rapidly growing “white box” 5G networking equipment market. The open lab will be a platform where Taiwanese manufacturers can access Cisco’s cloud-based mobile network to develop their own 5G telecom equipment, such as small-cell base stations, network switches, modems and Internet of things (IoT) devices, a ministry statement said. The open platform would allow Taiwanese manufacturers to tap into the lucrative 5G telecom equipment market, which was previously monopolized by Nokia Oyj, Ericsson AB