BTG to acquire Roxwood
British drugs company BTG PLC yesterday said it would buy US-based cardiovascular catheter maker Roxwood Medical Inc for up to US$80 million. The deal, which is expected to be accretive to adjusted profit from the second full year of ownership, comprises US$65 million paid on closing and up to US$15 million in potential milestones. Roxwood’s portfolio of anchoring catheters and microcatheters for treatment of complex cardiovascular lesions should leverage BTG’s existing successful EKOS (endovascular system) sales and marketing operation, Deutsche Bank AG said.
US growth hits 12-year high
Growth in the US services sector, a key driver of the economy, hit a 12-year high last month in the wake of back-to-back hurricanes, a survey released on Wednesday showed. The monthly gains surpassed analysts’ expectations and marked 93 consecutive months of expansion, the Institute for Supply Management said. The institute’s non-manufacturing index rose a strong 4.5 percentage points from August’s level to reach 59.8 percent.
Firms told to prep for Brexit
German firms with a presence in Britain or Northern Ireland must make provisions for the possibility of a “very hard Brexit,” the BDI industry association said yesterday, adding that it was concerned at progress in Britain’s divorce talks with the EU. “The British government is lacking a clear concept despite talking a lot,” BDI managing director Joachim Lang said. “German companies with a presence in Britain and Northern Ireland must now make provisions for the serious case of a very hard exit. Anything else would be naive,” he said.
KPMG chief vows reform
Weaknesses at KPMG South Africa are not systemic and reforms are under way to address mistakes made in work it carried out for business friends of South African President Jacob Zuma, the firm’s new local chief executive told parliament yesterday. KPMG sacked a number of South African executives last month after it found work undertaken for firms owned by the Gupta family — a trio of Indian-born businessmen with close ties to Zuma — “fell considerably short” of its standards.
Bain aims to settle chip sale
The investment fund heading the consortium buying the memorychip business of Toshiba Corp yesterday said it would try to reach a speedy settlement with Western Digital Corp, the US joint venture partner of Toshiba that is opposing the sale. Bain Capital Japan head Yuji Sugimoto said the ￥2 trillion (US$18 billion) deal would go ahead, despite litigation by Western Digital. He added that Western Digital remains an important partner and a speedy resolution would benefit both sides.
Driverless cars in accidents
General Motors Co’s (GM) self-driving unit, Cruise Automation, told California regulators its vehicles were involved in six crashes in the state last month, but said none of the automated vehicles were responsible. The accidents did not result in any injuries or serious damage, GM reports said. A US Senate panel on Wednesday approved legislation that would allow automakers to greatly expand testing of self-driving cars. Some safety groups have objected to the proposal, saying it gives too much latitude to automakers.
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