Trade talks possibly affected
African swine fever, which has been spreading through northeastern China, has the potential to affect trade talks if outbreaks of the deadly disease become widespread, said Brett Stuart, founding partner of Global AgriTrends, a market intelligence firm focused on global agriculture. It is not possible to predict with any certainty how the disease will spread — there could be sporadic outbreaks with an insignificant national effect — but the density of hogs and the scale at which they are raised in China creates a serious risk, Stuart said.
Deutsche Bank to cull 1,000
Deutsche Bank AG plans to cut about 1,000 jobs at the headquarters of its retail division, people briefed on the matter said. That would be approximately one in five of the people working at its recently merged German retail unit, split between Frankfurt am Main and Bonn. Most of the cuts would aim to eliminate duplicate back-office and middle-office functions, the people said. The number has yet to be negotiated with the powerful workers’ councils. It is not clear how many of the job cuts at the German retail headquarters would happen by the end of next year.
Airbnb sues New York City
Airbnb Inc sued the city of New York on Friday, denouncing as “an extraordinary act of government overreach” a new law forcing home-sharing platforms to disclose data about hosts. It was a dramatic escalation in the battle between the US$30 billion company and authorities in the US’ most populous city, amid a global backlash against “sharing economy” start-ups disrupting traditional industries. The rental Web site filed the lawsuit in a federal court in Manhattan, asking for the law to be scrapped and branding it a product of a “multimillion-dollar campaign funded by the city’s powerful hotel lobby.”
Ex-trader faces deportation
Kweku Adoboli, a former UBS Group AG trader jailed for causing a US$2.3 billion loss to the bank, is set to be deported to his native Ghana, British Minister of State for Immigration Caroline Nokes said, three years after he was let out of prison. British Member of Parliament Hannah Bardell, of the Scottish constituency where Adoboli lives, told British Prime Minister Theresa May that it is “incredible” that the UK Home Office wants to deport Adoboli to a country that he left as a child. However, Nokes in a letter to Bardell on Friday said that the Home Office was “in no way obliged” to delay deportation proceedings while Adoboli seeks legal representation.
Exxon puts out Texas tender
Exxon Mobil Corp has been looking to buy renewable energy for delivery in Texas, people familiar with the matter said. The largest US oil company sent out a request for proposals with a June 8 deadline, inviting solar or wind power suppliers to pitch contracts that would last 12, 15 or 20 years, according to a document obtained by Bloomberg and people with knowledge of the matter. Exxon, based in Irving, Texas, is seeking at least 100 megawatts and would consider proposals for more than 250 megawatts.
NOTABLE SHIFT: By 2030, 50% of all laptops would be assembled in Southeast Asia, while Taiwan would still mostly focus on research and development, a report said Global laptop and desktop computer supply chains are expected to shift significantly away from China in the next 10 years, a Market Intelligence & Consulting Institute (MIC, 產業情報研究所) report said. By 2030, only 40 percent of global laptop production would remain in China, said the report, which was released on Thursday. “The reshuffling of the global supply chain will be one of the most important trends in the next 10 years,” the institute said in the report. “In the long run, key component makers will follow laptop assemblers in moving out of China.” The Taipei-based institute predicted most key component makers
NO VIRUS BLUES: A SEMI Taiwan official said that the virus does not slow down the global semiconductor industry’s investment in manufacturing equipment The production value of the nation’s semiconductor industry is expected to grow 16.7 percent this year from last year, outpacing the global industry’s 3.3 percent growth, industry association SEMI said yesterday. That would help Taiwan safeguard its second spot in the global semiconductor market with a production value of more than NT$3 trillion (US$102.73 billion), SEMI Taiwan president Terry Tsao (曹世綸) told a media briefing in Taipei for the Semicon Taiwan trade show beginning today. The global semiconductor industry’s production value is expected to increase to US$426 billion this year, SEMI said. In terms of semiconductor equipment investment, equipment billings from Taiwanese firms
Intel Corp has received licenses from US authorities to continue supplying certain products to Huawei Technologies Co (華為), a company spokesman said yesterday. Washington has been pushing governments around to world to squeeze out Huawei, saying that the telecom giant would hand data to Beijing for espionage. From Monday last week, new curbs have barred US companies from supplying or servicing Huawei. This week, the state-backed China Securities Journal reported that Intel had received permission to supply Huawei. China’s Semiconductor Manufacturing International Corp (SMIC, 中芯國際), which uses US-origin equipment to make chips for Huawei and other companies, last week confirmed that it had sought
Merck Group Taiwan yesterday said that it plans to invest substantially on expanding its fab in Kaohsiung’s Lujhu District (路竹) to better serve its local customers, including Taiwan Semiconductor Manufacturing Co (TSMC, 台積電). The company said it plans to expand its production space by 50 percent in the next five years and its workforce by about 40 percent, Merck Group Taiwan managing director Dick Hsieh (謝志宏) told a media briefing in Taipei. Hsieh declined to disclose investment details, but said that the latest investment would exceed the total amount Merck has invested in Taiwan over the past few years. Those investments would be