ANOTHER ONE GONE: Speculation that Charles Prince's job was in jeopardy was fueled by a US$6.5 billion Q3 writedown and an SEC probe into the group's acquisition of SIVs
Citigroup Inc's Charles Prince will offer to quit as chief executive officer of the biggest US bank, the Wall Street Journal reported on Friday, a move that may foreshadow other top-level departures at the world's largest financial companies.

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JAPANESE PAY GAP: While GM's Rick Wagoner received US$9.57 million in compensation last year, Nissan board members received an average of just more than US$2 million
In just the last three months, three senior executives in Toyota's North American business abruptly left for rivals. The high-profile defections underline a new danger looming for the Japanese automaker -- the lure of US companies wooing the best in its ranks.

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Nokia Corp's new Britain-based online music service launched this week with more than 2 million songs, including tracks from every major record label except one: Warner Music Group Corp, home to artists such as Green Day, Linkin Park and Red Hot Chili Peppers.

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Some 82 percent of Taiwan's overseas investment is in China because of China's location, cheap labor and business potential, a survey showed yesterday.

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Many large domestic foodstuff manufacturers have benefited from the increase in international raw food material prices since they began selling to smaller processors in the sector, members of the Taiwan Feed Industry Association (TFIA) said yesterday.

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US Federal Reserve Chairman Ben Bernanke is "a nut" and interest-rate cuts by the central bank are harming the US economy by fueling inflation, investor Jim Rogers said.

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RISK: In Taipei investors sold stocks across the board on Friday. The electronics and financial sectors both dropped by more than 3 percent
Asian stocks rose this week, led by Toyota Motor Corp, after the US Federal Reserve cut interest rates and US economic growth accelerated, bolstering confidence in the region's biggest export market.

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The US dollar dived to a fresh record low against the euro on Friday as foreign exchange speculators appeared to shrug off an upbeat economic report that revealed a surprisingly strong surge in US job creation.

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The prospect of a stronger US economy and word of possible new UN sanctions against Iran sent crude oil futures back above US$96 a barrel on Friday.

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European stocks fell for the second successive day on Friday as fears over financial stocks' exposure to credit market losses continued to batter the beleaguered banking sector.

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Mixed signals on the economy and interest rates and worries about the impact of credit and housing woes on the finance sector has put Wall Street on the defensive heading into the year-end season.

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