Sun, Feb 24, 2013 - Page 15 News List

World Business Quick Take

Staff writer, with agencies

TECHNOLOGY

Quanta lays off employees

Quanta Computer Inc (廣達電腦) yesterday said it has laid off an unspecified number of employees at its Taoyuan factories as it streamlines some of its product lines, a statement filed with the Taiwan Stock Exchange showed. Quanta’s comments came after the Chinese-language Commerical Times reported yesterday that the world’s biggest contract laptop computer maker has fired an estimated 100 employees after shutting down its tablet product line. The line was originally intended to produce tablets for Canadian smartphone company Blackberry Ltd — previously named Research In Motion. Quanta said in the filing that the streamlining would have a limited impact on the company’s overall production, business and finances.

JAPAN

Abe seeks help for BOJ pick

Prime Minister Shinzo Abe on Friday said he plans next week to seek the backing of junior coalition partner the New Komeito Party and opposition parties over the nomination of a new central bank governor. “I’ll be back in Japan on Sunday [today]. From around Monday, I want to make headway on new governor and deputy governors,” Abe said at a news conference in Washington. “Next week, I would like to ask for help from opposition parties, notify candidates ... and work to win endorsement from New Komeito.” Abe did not say who he had in mind for the nomination. Abe has made clear he wants to replace Bank of Japan (BOJ) Governor Masaaki Shirakawa, who steps down along with two deputies on March 19, with someone who agrees with the prime minister’s push for aggressive monetary policy measures to escape the deflation that has plagued the nation for decades.

PHARMACEUTICALS

J&J to be probed by US

Johnson & Johnson (J&J) on Friday said that the US Justice Department is investigating the company’s marketing practices related to a hip replacement product it recalled in 2010 over safety concerns. The diversified healthcare company has also had to recall over-the-counter drugs, contact lenses, heart devices such as stents and insulin pump cartridges over the past couple of years. In August 2010, J&J recalled two types of its ASR metal-on-metal hip implants after they were linked to high failure rates. About 93,000 of the ASR hips were sold prior to the recall, which has generated more than 10,000 lawsuits alleging harm from the devices. J&J said in a regulatory filing that the US government is investigating false claims or false statements affecting US federal healthcare programs in connection with the marketing and use of the ASR XL Hip device.

LATVIA

Nation ready for euro: PM

Prime Minister Valdis Dombrovskis yesterday said the nation, which is seeking to become the 18th country to adopt the euro, meets all conditions for the switch next year. The government is ready to be evaluated on its preparedness to become part of the currency union, Minister of Finance Andris Vilks said yesterday. The Cabinet on March 4 will decide on an application for a report that will deliver the EU’s verdict on whether the country meets the terms, Vilks said. Both made the remarks at a news conference in Riga.

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