Foxconn subsidy voted on
The Wisconsin State Senate on Tuesday approved nearly US$3 billion in cash payments to Foxconn Technology Group, while also giving the Taiwanese company a slightly less expedited path to the state’s Supreme Court for certain legal challenges related to its planned massive electronics manufacturing plant. Foxconn plans to invest up to US$10 billion to build a flat-screen production factory that would initially employ 3,000,which the company has said could grow to 13,000. The proposed subsidy — which heads to the state Assembly for a final vote today — would be the largest ever from a US state to a foreign company and 10 times bigger than anything Wisconsin has extended to a private business. The Republican-controlled Senate discounted Democrats’ concerns that there were not enough protections for taxpayers under the unprecedented incentive package. It would take 25 years for taxpayers to see a return on the investment, the nonpartisan Legislative Fiscal Bureau said.
Malaysia inks Boeing order
Malaysia Airlines Bhd agreed to buy Boeing Co’s 787-9 Dreamliners and 737 Max jets as the nation’s flag carrier looks to boost services on its busiest routes. The airline signed a memorandum of understanding for eight of the carbon-composite Dreamliners and eight 737 Max 8s, Boeing said in an e-mailed statement on Tuesday. The agreement marks a victory for Boeing in a competition that had been viewed as favoring rival Airbus SE. Malaysia Airlines might double an order of 25 of the single-aisle 737 Max 10 over the next five years, Malaysian Prime Minister Najib Razak Najib said on Tuesday at a meeting with US President Donald Trump at the White House before the announcement.
WeWork sues UrWork in US
WeWork Cos is escalating a legal fight against UrWork (優客工廠) with a US lawsuit, accusing the rapidly expanding Chinese rival of infringing on its trademarks. The US start-up, which has been valued at about US$20 billion, on Tuesday filed a lawsuit against UrWork in New York, saying it copied parts of its name and logo. That follows a separate legal action taken against the Chinese company in London, with WeWork accusing it of “passing off,” which can take place when one business misrepresents their services as being the product of another. Shared offices are gaining in popularity as bootstrapped start-ups seek to lower costs and collaborate with peers.
Infrastructure plan passed
An interagency panel chaired by President Rodrigo Duterte has approved four major infrastructure projects worth 386.3 billion pesos (US$7.58 billion), including bridges, roads and the country’s first metro system. The Philippines, one of the world’s fastest growing economies, is overhauling its aging infrastructure to boost its competitiveness, create jobs and attract foreign firms hesitant about power costs, logistics headaches and supply chain challenges. The approval and completion of these projects “will pave the way for us to achieve our mid-term and long-term goals” as a nation, Socioeconomic Planning Secretary Ernesto Pernia said. The latest bundle brings the total number of approved projects to 35 worth 1.2 trillion pesos since Duterte took office in July last year. The biggest plan approved on Tuesday was the 355.6 billion pesos Metro Manila Subway Project, the first of its kind in the Philippines, and seen as an urgently needed solution to the sprawling capital’s notorious gridlock.
DEVELOPING TALENT: The electronics contractor is looking to recruit people to work in core tech fields and emerging industries like electric cars and robotics Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics maker, has launched a recruitment drive, offering a monthly salary of no less than NT$45,000 (US$1,485) to university graduates. For those with a master’s degree, the starting pay would be NT$52,000 per month at the minimum, while doctorate degree holders would receive at least NT$60,000 a month, Hon Hai said a statement issued early this week. The latest recruitment drive is aimed at attracting talent in core technology fields — artificial intelligence, semiconductors and next-generation mobile communications — and emerging industries — electric vehicles, digital healthcare and robotics, the
MRT TRAVEL FALLS: In February, ridership on the Taipei MRT System fell 8.96 percent from an average of 2.01 million per day in January Scooter sales jumped 13 percent last month as more commuters turned to two-wheelers to avoid public transportation amid the COVID-19 pandemic, the latest statistics showed. Sales expanded to 74,493 units last month, compared with 65,913 units in February, statistics released on Wednesday by Kwang Yang Motor Co (光陽工業) and the Ministry of Transportation and Communications showed. In the first quarter, aggregate sales slid 0.51 percent year-over-year to 186,627 units, from 187,580 units, data showed. Kwang Yang, the nation’s biggest scooter manufacturer, continued to lead the market by selling 24,136 vehicles last month, growing 6.12 percent from 20,785 units in the previous month, while
Asustek Computer Inc (華碩), the nation’s leading PC vendor, yesterday launched its first dual-screen gaming laptop powered by Intel Corp’s latest central processing units (CPUs). The PC manufacturer’s announcement closely followed the US chipmaker’s unveiling of its 10th Generation Core H-series, the fastest commercial mobile processors with speeds of up to 5 gigahertz. Although Asustek’s Zephyrus Duo 15, the highlight of its Republic of Gamers line, is not the company’s first laptop with two screens, it is its first designed specifically for gaming. Nestled between the primary display panel and the keyboard, the secondary display, which Asustek calls the ScreenPad Plus, is angled
NO ILL EFFECT: Last month’s data mainly reflected deals made in February, when the spread of COVID-19 was still relatively mild in Taiwan, housing brokers said Housing transactions in the six special municipalities totaled 19,824 units last month, up 7.8 percent from a year earlier, brokers said, citing government data. Last month’s data mainly reflected deals made in February, when the pinch of the COVID-19 pandemic was not yet evident, they said. Taoyuan posted the largest improvement, with housing transactions soaring 36.6 percent year-on-year to 3,676 units, local government data showed. Taiwan Realty Co (台灣房屋) attributed the pickup to the completion of two presale residential projects in the municipality. Houses in Taoyuan have increasingly gained in popularity in the past few year years due to relatively affordable home prices and