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FPG challenges school relocation plan

By Kuo Chia-erh

Formosa Plastics Group (FPG, 台塑集團) yesterday said the government should convene a committee to look into the controversy about the likely relocation of Ciaotou Elementary School’s (橋頭國小) Syucuo (許厝) branch, as the company has doubts over the research results by the National Health Research InstitutesFULL STORY

Industrial output falls short of government forecasts

By Lisa Wang

The nation’s industrial output last month contracted 0.31 percent annually, falling short of the government’s expectation as lackluster demand for Apple Inc’s iPhones curtailed camera lens orders, the Ministry of Economic Affairs said yesterday. A setback in the housing sector also dragged down overall output. TheFULL STORY

Ex-Mega chairman Tsai resigns from Cathay board

By Ted Chen

Former Mega Financial Holding Co (兆豐金控) chairman Mckinney Tsai (蔡友才) yesterday resigned from Cathay Financial Holding Co’s (國泰金控) board of directors, citing personal reasons, Cathay Financial said in a filing with the Taiwan Stock Exchange. “Tsai tendered his resignation voluntarily to avoid further complications inFULL STORY

Patec optimistic for year’s second half on back of China’s booming car market

By Kuo Chia-erh

Patec Group (百達), a Singapore-based automotive components supplier, yesterday gave a positive revenue outlook for the second half of the year, supported by a booming car market in China. About 90 percent of the group’s revenue comes from its automotive components business, such as components forFULL STORY

Innolux and AUO to ship world’s first 8K TV panels

By Lisa Wang

Innolux Corp (群創) and AU Optronics Corp (AUO, 友達光電) are to ship the world’s first ultra-high-definition 8K LCD TV panels next quarter, one quarter ahead of their South Korean rivals, in an attempt to repeat the success in unveiling 4K panels, market researcher TrendForce CorpFULL STORY

German firms’ negative outlook expands: survey

The number of German businesses in Taiwan with a negative outlook on the nation’s economy has doubled over the past year, according to a survey released yesterday by the German Trade Office Taipei. A total of 41.2 percent of German companies that participated in theFULL STORY

Gold, gems pile up in Singapore in quest for haven

The stash of gold, silver and gems stored in the vaults and safe deposit boxes of Malca-Amit Singapore Pte has jumped almost 90 percent in the past year, as wealthy investors seek a refuge in a world of negative interest rates, stagnating economies and politicalFULL STORY

Taiwan Business Quick Take

ELECTRONICS Pegatron adapting to clients Amid market speculation that Apple Inc has been cutting costs in its supply chain in an attempt to maintain profitability, Pegatron Corp (和碩) chairman Tung Tzu-hsien (童子賢) said it is normal in the manufacturing industry for clients to regularly reduce costs inFULL STORY

ChemChina clinches US security nod

China National Chemical Corp (ChemChina, 中國化工) received approval from US national security officials for its takeover of Swiss agrochemical and seeds company Syngenta AG, seen as the biggest regulatory hurdle that the US$43 billion acquisition faces. The Committee on Foreign Investment in the US has clearedFULL STORY

Attacks, strikes, floods cost Paris tourism millions

Extremist attacks, strikes and floods kept foreign tourists away from the French capital in the first half of the year and cost the Paris region tourism industry about 750 million euros (US$849.38 million) in lost revenue, officials said yesterday. “It’s time to realize that the tourismFULL STORY

Wal-Mart checks Welspun records over cotton doubts

Wal-Mart Stores Inc, the world’s largest retailer, is reviewing supplier Welspun India Ltd’s cotton certification records after Target Corp terminated business with the Indian manufacturer over cheaper bedsheets being passed off as premium Egyptian cotton. The stock fell by the daily limit of 20 percent forFULL STORY

Apple, Microsoft snap up AI firms

Microsoft on Monday announced it bought a start-up to boost its artificial intelligence capabilities, and rival Apple confirmed it has boosted its health focus with an acquisition of its own. Microsoft did not disclose financial terms of its deal to buy Genee, which specializes in usingFULL STORY

Ex-Comverse CEO returning to US after 10 years to plead guilty in stock fraud

Ending a decade on the run, the former chief executive officer of Comverse Technology Inc who fled to Africa to avoid a fraud prosecution over a stock options scandal is returning to the US to plead guilty. Jacob “Kobi” Alexander, 64, will admit to one countFULL STORY

China to open additional sectors to private capital

China is to open sectors, including oil and gas drilling, to private capital to counter record-low investment growth by non-state firms. “Political barriers” for private investment will be removed to offer a fair playing field and encourage non-state companies to take part in 165 projects outlinedFULL STORY

World Business Quick Take

CONSTRUCTION Kier wins three contracts Kier Group PLC said the company, along with other supply chain partners, had since last month won three contracts worth more than £5 billion (US$6.6 billion) to carry out construction in the UK, easing fears that work had stalled across the sectorFULL STORY

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