BAE benefits from merger
British defense company BAE Systems PLC has snapped up more than US$2 billion in US defense-technology assets that Raytheon Inc. and United Technologies Corp were forced to sell in order to gain antitrust approval for their merger. BAE said it would pay US$1.925 billion in cash for the military global positioning system (GPS) belonging to United subsidiary Collins Aerospace. It is to acquire Raytheon’s airborne tactical radios business for US$275 million in cash. “These assets have come to market as part of the regulatory process relating to the merger,” BAE’s statement said. “It’s rare that two businesses of this quality, with such strong growth prospects and close fit to our portfolio, become available,” BAE chief executive Charles Woodburn said in the statement, adding that they would be folded into the group’s electronics-systems sector.
Strikes hurt economy
The current wave of strikes will hit the economy by 0.1 percentage points over the course of one quarter, Minister of the Economy and Finance Bruno Le Maire told LCI television yesterday. He also said he hoped to resolve a row with the US over a planned French digital tax by tomorrow night. Le Maire said he would meet his US counterparts at the Davos forum this week. France in July last year decided to apply a 3 percent levy on revenue from digital services earned by firms with revenues of more than 25 million euros (US$27.7 million) nationally and 750 million euros worldwide.
Best Buy CEO under probe
Best Buy Co said it is investigating chief executive officer Corie Barry’s personal conduct, a potential blow to the electronics retailer that comes eight years after a former CEO resigned amid a similar probe. The board received an anonymous letter with the allegations against Barry, the company said in a statement. Best Buy said it hired the law firm Sidley Austin LLP to conduct an independent review and encouraged “the letter’s author to come forward and be part of that confidential process.” Barry said in the statement that the board “has my full cooperation and support as it undertakes this review, and I look forward to its resolution in the near term.”
Total, Marubeni ink deal
French energy major Total SA and Japan’s Marubeni are to help build a solar park in Qatar, holding stakes of 19.6 percent and 20.4 percent respectively in Siraj 1 SPV, the consortium that won the emirate’s first solar tender. The consortium is to develop and operate the Al Kharsaah Solar PV IPP Project. Siraj Energy, a joint venture between Qatar Petroleum and Qatar Electricity & Water Co owns the remaining 60 percent in the project. Marubeni yesterday said that a 25-year power purchase agreement for the photovoltaic farm’s output has been executed with Qatar utility.
TCL, Tianjin in talks
The Tianjin city government is in early talks to sell stakes in two of its listed technology firms to Chinese consumer electronics giant TCL Corp (TCL集團), people familiar with the matter said. The discussions involved holdings in chip devices maker Tianjin Zhonghuan Semiconductor Co (天津中環半導體) and Tianjin Printronics Circuit Corp (天津普林電路), they said. The city and TCL are still exploring options including direct stake sales or having the TCL acquire control in the major shareholder of the two firms, the people said.
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