Honda profit declines
Honda Motor Co recorded a 6.7 percent decline in profit last quarter as vehicle sales slipped and an unfavorable exchange rate hurt earnings at the Japanese automaker. Its fiscal second-quarter profit totaled ￥196.5 billion (US$1.8 billion), down from ￥210.7 billion the previous year. Quarterly sales declined 2.9 percent to ￥3.7 trillion as auto sales declined in the US, Japan, the rest of Asia and Europe. Higher income tax expenses also hurt results, Honda said. The Tokyo-based company lowered its full-year profit forecast through March next year to ￥575 billion from the ￥645 billion given in August and below the ￥610 billion earned the previous fiscal year.
Juncker expects no tariffs
European Commission President Jean-Claude Juncker yesterday said that he believes the US will not impose new tariffs on imported European vehicles in the next few days. In an interview with the Suddeutsche Zeitung, Juncker said he was “fully informed” on the issue and that US President Donald Trump “will not do it.” He told the German newspaper that “Trump will criticize a little, but there will not be tariffs on cars.” Trump is due to decide by the middle of this month whether to impose the supplemental tariffs on vehicles built in EU countries.
Apple eyes green bonds
Apple Inc is joining Europe’s market for green bonds with one of the largest-ever corporate issues of “environmentally friendly” debt in the region, a source said. The California-based iPhone maker was poised to sell 2 billion euros (US$2.2 billion) of six and 12-year bonds, said a person familiar with the matter, who asked not to be identified because they were not authorized to speak about it. The company would use the proceeds to reduce its carbon footprint, along with greener materials in its products and resource conservation, the source said.
Gap CEO to step down
Gap on Thursday announced that chief executive officer Art Peck is stepping down as the company struggles to turn around a long-standing sales slump. The San Francisco-based retailer also lowered its earnings outlook for the year as sales at Gap, Banana Republic and Old Navy fell in the most recent quarter. The company’s stock tumbled 7 percent to US$16.75 in after-hours trading following the announcement. The shares were trading at about US$41 when Peck took the CEO spot in early 2015. Effective immediately, Robert Fisher, Gap’s non-executive chairman of the board, would serve as president and CEO on an interim basis, the company said. Fisher is the son of Gap cofounders Donald and Doris Fisher.
REPUBLIC OF IRELAND
Cup tax announced
The nation is to impose a so-called latte levy on disposable coffee cups by 2021 in a bid to change habits and cut the environmental impact from the use of single-use plastics, Minister for Climate Action Richard Bruton said on Wednesday. The government hopes the proposed levy of up to 0.25 euros per cup would encourage coffee drinkers to instead carry reusable “Keep Cups” that already allow people to claim discounts at some coffee shops. “One of the things we clearly have to do is cut down on single-use disposables and the most obvious one of those is disposable cups,” Bruton told broadcaster RTE. Up to 200 million single-use coffee cups are thrown away every year by the nation’s 4.9 million people, a report found last year.
PLANNED OUT: The government is lifting sale and export restrictions on 60% of the 20 million masks made daily, but people can still make purchases using their NHI cards Twenty thousand boxes of 50 masks each would be on sale at FamilyMart convenience stores starting tomorrow, Taiwan FamilyMart Co Ltd (全家便利商店) said yesterday. A box of 50 masks would cost NT$249 for those with FamilyMart memberships and NT$299 for those without, with no limits placed on how many boxes a person can buy, the company said. Convenience store chain operator Hi-Life International Co Ltd (萊爾富) said that it would also start selling masks from tomorrow. It has yet to announce details about prices and quantity. Hypermarket chain operator Carrefour Taiwan (家樂福) said that it would start selling packs of five
BOOSTING BUYING: A source said that the idea of pre-ordering vouchers online is being considered, but the preliminary plan is for people to buy them at post offices A stimulus voucher program to be rolled out next month to boost consumption would be available not only to Taiwanese, but also foreign nationals and Chinese spouses who hold residency permits, a source familiar with the matter said yesterday. The government is fine-tuning the details of the program, which involves issuing vouchers for in-store purchases to revive buying amid the COVID-19 pandemic. During a radio interview on Monday last week, National Development Council (NDC) Minister Kung Ming-hsin (龔明鑫) said that the plan is to allow anyone, regardless of age or income level, to buy NT$3,000 (US$99.89) worth of vouchers for
Delta Electronics Inc (台達電), the nation’s leading power management solutions provider, has signed an agreement to acquire Canadian software firm Trihedral Engineering Ltd to bolster its smart production efforts, it said on Saturday. Delta said in a statement that it would acquire Trihedral for C$45 million (US$32.68 million) through its 100 percent-owned subsidiary Delta Electronics (Netherlands) BV. Trihedral specializes in supervisory control and data acquisition (SCADA) and industrial Internet of Things software, which would strengthen Delta’s hardware offerings in fast-growing areas such as automation, artificial intelligence and data analytics, it said. “The collection, monitoring and analyzing of data are critical to Delta’s two
‘ONE-STOP SHOP’: A Miaoli official said that the factory in the Jhunan section of the Hsinchu Science Park would create more than 1,000 jobs and boost prosperity A new high-end IC packaging and testing plant planned by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in Miaoli County is expected to start operations in the middle of next year, Miaoli County Commissioner Hsu Yao-chang (徐耀昌) said. Hsu wrote on Facebook that TSMC, the world’s largest pure wafer foundry operator, would invest NT$303.2 billion (US$10.1 billion) to build the plant, the largest-ever single investment in Taiwan. However, TSMC declined to disclose the financial terms of the deal, while a company board meeting on May 12 approved a spending plan worth NT$168.2 billion as part of its investment plans. Construction of the