SOCIAL MEDIA
Google seeks Twitter advice
Google is working with a financial adviser to consider a potential bid for Twitter Inc, as the social-media company continues to explore a sale, according to a person familiar with the arrangement. In tapping Lazard Ltd, Google has not indicated that it will definitely make an offer for Twitter, but the move suggests that Google is evaluating the option, pitting the search giant against other potential bidders, including Walt Disney Co.
SOFTWARE
IBM eyes AI in finances
IBM Corp wants to use “artificial intelligence” (AI) technology to automate parts of the finance industry’s regulatory-compliance effort. With its acquisition of Promontory Financial Group, announced on Thursday, IBM gains the banking industry’s most prominent regulatory consultant. The Armonk, New York-based technology giant said it would use Promontory’s 600 employees to bolster its AI program, known as Watson.
LIGHTING
Philips mulls division sale
Royal Philips NV is in talks to sell its Lumileds lighting-components division to Apollo Global Management LLC after scrapping a plan to sell the business for US$2.8 billion earlier this year amid regulatory concerns, people with knowledge of the matter said. Apollo is the likeliest buyer after other private-equity firms dropped out of talks, the people said. The Amsterdam-based company is aiming to reach a deal by the end this month, but talks could still fall apart, one of the people said.
SMARTPHONES
Apple in talks with Sharp
Apple Inc is in negotiations with Sharp Corp to secure organic LED displays for the iPhone maker’s next-generation of devices, a person familiar with the matter said. Any OLED supply agreement would depend on the Osaka-based company’s output capacity, the person said. The discussions stem from Apple’s desire to increase the number of suppliers for OLED screens, the person said. Earlier on Friday, Sharp announced it would invest ¥57.4 billion (US$566 million) for the development of OLED production facilities.
ENERGY
Abengoa posts net loss
Spain’s debt-laden energy giant Abengoa SA on Friday posted a 3.7 billion euro (US$4.2 billion) net loss in the first half of this year. A “general slowdown in business” contributed to the result, the Seville-based group said in a statement. In comparison, the group reported a 72 million euro profit during the first six months of last year. Abengoa last year said that it was filing for preliminary protection from creditors following years of expansion worldwide.
AUTOMAKERS
VW seeks damages deal
Volkswagen AG (VW) is asking a judge to approve its US$1.2 billion agreement with its US dealerships for damages caused by its emissions-cheating scandal. The proposed settlement increases the amount VW is to pay to resolve US lawsuits over its emissions-cheating vehicles to US$16.5 billion, according to settlement documents filed on Friday in San Francisco federal court. VW is offering to buy back vehicles from its 652 dealerships under the same terms as those given consumers, the filing said.
purpose: Tesla’s CEO sought to meet senior Chinese officials to discuss the rollout of its ‘full self-driving’ software in China and approval to transfer data they had collected Tesla Inc CEO Elon Musk arrived in Beijing yesterday on an unannounced visit, where he is expected to meet senior officials to discuss the rollout of "full self-driving" (FSD) software and permission to transfer data overseas, according to a person with knowledge of the matter. Chinese state media reported that he met Premier Li Qiang (李強) in Beijing, during which Li told Musk that Tesla's development in China could be regarded as a successful example of US-China economic and trade cooperation. Musk confirmed his meeting with the premier yesterday with a post on social media platform X. "Honored to meet with Premier Li
ARTIFICIAL INTELLIGENCE: The chipmaker last month raised its capital spending by 28 percent for this year to NT$32 billion from a previous estimate of NT$25 billion Contract chipmaker Powerchip Semiconductor Manufacturing Corp (力積電子) yesterday launched a new 12-inch fab, tapping into advanced chip-on-wafer-on-substrate (CoWoS) packaging technology to support rising demand for artificial intelligence (AI) devices. Powerchip is to offer interposers, one of three parts in CoWoS packaging technology, with shipments scheduled for the second half of this year, Powerchip chairman Frank Huang (黃崇仁) told reporters on the sidelines of a fab inauguration ceremony in the Tongluo Science Park (銅鑼科學園區) in Miaoli County yesterday. “We are working with customers to supply CoWoS-related business, utilizing part of this new fab’s capacity,” Huang said, adding that Powerchip intended to bridge
Dutch brewing company Heineken NV on Friday announced an investment of NT$13.5 billion (US$414.62 million) over the next five years in Taiwan. The first multinational brewing company to operate in Taiwan, Heineken made the statement at a ceremony held at its brewery in Pingtung County. It also outlined its efforts to make the brewery “net zero” by 2030. Heineken has been in the Taiwanese market for 20 years, Heineken Taiwan managing director Jeff Wu (吳建甫) said. With strong support from local consumers, the Dutch brewery decided to transition from sales to manufacturing in the country, Wu said. Heineken assumed majority ownership and management rights
Microsoft Corp yesterday said that it would create Thailand’s first data center region to boost cloud and artificial intelligence (AI) infrastructure, promising AI training to more than 100,000 people to develop tech. Bangkok is a key economic player in Southeast Asia, but it has lagged behind Indonesia and Singapore when it comes to the tech industry. Thailand has an “incredible opportunity to build a digital-first, AI-powered future,” Microsoft chairman and chief executive officer Satya Nadella said at an event in Bangkok. Data center regions are physical locations that store computing infrastructure, allowing secure and reliable access to cloud platforms. The global embrace of AI