Ryanair orders 175 new jets
Irish low-cost airline Ryanair on Tuesday announced an order for 175 Boeing Co 737-800 airplanes in a major fleet expansion three weeks after the EU blocked its takeover of rival Aer Lingus. The massive order was put at US$15.6 billion at Boeing catalog prices, one of the US aerospace giant’s largest orders ever, though discounts could bring the total value to much less than that. Ryanair chief executive Michael O’Leary said the planes were to be delivered between next year and 2018, at a cost similar to that of Ryanair’s 2005 Boeing order. Ryanair has an all-Boeing 737 fleet.
Yahoo mulls video site bid
The Wall Street Journal on Tuesday reported that Yahoo Inc may take a controlling interest in France-based video-sharing Web site Dailymotion. Yahoo could buy as much as 75 percent of Dailymotion from France Telecom in what would be the Internet pioneer’s biggest acquisition under chief executive officer Marissa Mayer, the Journal said. Dailymotion is a YouTube-style Web site that industry tracker comScore rated at the start of this year as the 12th-largest video-sharing site with about 116 million users. Dailymotion had an estimated value of US$300 million.
Petrobras plans investments
State-run oil company Petrobras said on Tuesday it will invest US$236.7 billion from this year through 2017, with most of the amount earmarked for exploration and production. The company said in a conference call with investors and analysts that US$147.5 billion, or 62 percent of the total, will be spent on exploration and production over the next five years. Petrobras said US$64.8 billion will be spent on refining, while US$9.9 billion will go to natural gas and energy projects.
Ford reaches worker deal
US automaker Ford Motor Co said on Tuesday that it would pay at least US$750 million to workers being let go as it closes its plant in Genk, Belgium, after reaching an agreement with unions. Ford, which has suffered heavy losses in Europe, announced in October last year it would shutter the Genk plant at the end of next year, wiping out more than 10,000 direct and indirect jobs.
Lockheed announces layoffs
Lockheed Martin Corp said on Tuesday 243 of 4,000 mid-level managers in its information systems and global solutions division have accepted voluntary layoffs, effective tomorrow. Company spokeswoman Mary Phillips said Lockheed offered severance packages last month to 4,000 mid-level managers in the division, which has a total of 30,000 employees. Of those, 260 offered to leave, and 243 were approved. She said the company was not planning additional layoffs.
Low-income workers gloomy
Lower-income workers have posted the biggest job gains since the deep 2007 to 2009 recession, but few are bragging. A survey by The Associated Press-NORC Center for Public Affairs Research found that those earning US$35,000 or less annually are generally pessimistic about their finances and career prospects. Many see themselves as worse off now than during the recession. The survey revealed that many people at the lowest rung in the workplace view their jobs as a dead end. Half say they are “not too” or “not at all” confident that their current jobs will help them achieve long-term career goals.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range
STAYING AHEAD: TSMC expects its sales this year to grow 14 to 19 percent and could spend up to US$3.52 billion on research and development, leaving its rivals far behind Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) reported that the US last year approved 99 percent of its patent applications, which placed the tech giant among the top patent holders in the US. In its Corporate Social Responsibility Report, TSMC said it last year secured about 3,600 patents worldwide, including more than 2,300 in the US. As of the end of last year, TSMC owned more than 39,000 patents, the report said. The company last year filed almost 6,500 patent applications worldwide and ranked among the top 10 patent applicants in the US. In Taiwan, it was the largest patent applicant for the fourth