■ Auto Industry
GM may boycott newspaper
General Motors Corp said it would stop advertising in the Los Angeles Times because of concerns over "factual errors and misrepresentations" in newspaper articles. The newspaper, owned by Tribune Co, will review coverage that prompted the complaints from the world's largest automaker, Times spokesman David Garcia said. "We will look into any complaints ... and will make any appropriate corrections," Garcia said in the newspaper on Thursday. GM officials did not specify which articles the company found offensive. On Wednesday, the newspaper published a column by auto critic Dan Neil, who called for the "impeachment" of two executives, and charged that the company "utterly missed the boat on hybrid gas-electric technology" while speeding up production of sport utility vehicles.
■ Nyse
Board elects new chairman
The former chairman and chief executive officer of a Boston investment firm was elected chairman of the New York Stock Exchange's board of directors, the exchange said. Former State Street Corp executive Marshall Carter had been the front-runner to succeed John Reed, the former co-CEO of Citigroup Inc, who took over the chairmanship in 2003 after former chairman and CEO Richard Grasso resigned amid controversy over his pay package. Carter joined State Street in 1991 as president and chief operating officer, then became CEO in 1992 and added the post of chairman in 1993. He retired in 2001. Grasso resigned amid intense criticism over his US$187.5 million pay package. He is being sued by New York Attorney General Eliot Spitzer, who wants at least US$100 million returned to the NYSE.
■ Cellphones
Motorola to boost research
Motorola Inc plans to increase its Indian investment in research by as much as 20 percent a year for the next few years, the Hindu Business Line said, citing the company's Chief Technology Officer Padmasree Warrior. Motorola has invested about US$150 million in the past few years in India, including US$85 million in technology research, the newspaper cited Warrior as saying. The company has about 2,000 research staff in India and may expand the strength by a quarter a year, Business Line said. The company closed its semiconductor design units in Singapore and Taiwan in March last year as it moves work to China and India.
■ Auto Industry
DaimlerChrysler defeats suit
US-German automaker DaimlerChrysler said yesterday that a US judge had turned back a lawsuit from investor Kirk Kerkorian over the 1996 merger of Daimler-Benz and Chrysler Corp. A court in the US state of Delaware turned back all claims by Kerkorian, who sought over US$1 billion, a company statement said. Kerkorian and his company Tracinda claimed that Daimler-Benz engineered a takeover of Chrysler Corp in 1998, then cheated him out of an acquisition fee by claiming it was a merger of equals. US District Judge Joseph Farnan Jr presided over a bench trial that concluded more than a year ago, in February last year. DaimlerChrysler CEO Juergen Schrempp said: "We are pleased that the court decision confirms, once and for all, that the Tracinda case lacked any merit, and that all claims against DaimlerChrysler relating to the 1998 merger were completely baseless."
ROLLER-COASTER RIDE: More than five earthquakes ranging from magnitude 4.4 to 5.5 on the Richter scale shook eastern Taiwan in rapid succession yesterday afternoon Back-to-back weather fronts are forecast to hit Taiwan this week, resulting in rain across the nation in the coming days, the Central Weather Administration said yesterday, as it also warned residents in mountainous regions to be wary of landslides and rockfalls. As the first front approached, sporadic rainfall began in central and northern parts of Taiwan yesterday, the agency said, adding that rain is forecast to intensify in those regions today, while brief showers would also affect other parts of the nation. A second weather system is forecast to arrive on Thursday, bringing additional rain to the whole nation until Sunday, it
CONDITIONAL: The PRC imposes secret requirements that the funding it provides cannot be spent in states with diplomatic relations with Taiwan, Emma Reilly said China has been bribing UN officials to obtain “special benefits” and to block funding from countries that have diplomatic ties with Taiwan, a former UN employee told the British House of Commons on Tuesday. At a House of Commons Foreign Affairs Committee hearing into “international relations within the multilateral system,” former Office of the UN High Commissioner for Human Rights (OHCHR) employee Emma Reilly said in a written statement that “Beijing paid bribes to the two successive Presidents of the [UN] General Assembly” during the two-year negotiation of the Sustainable Development Goals. Another way China exercises influence within the UN Secretariat is
CHINA REACTS: The patrol and reconnaissance plane ‘transited the Taiwan Strait in international airspace,’ the 7th Fleet said, while Taipei said it saw nothing unusual The US 7th Fleet yesterday said that a US Navy P-8A Poseidon flew through the Taiwan Strait, a day after US and Chinese defense heads held their first talks since November 2022 in an effort to reduce regional tensions. The patrol and reconnaissance plane “transited the Taiwan Strait in international airspace,” the 7th Fleet said in a news release. “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.” In a separate statement, the Ministry of National Defense said that it monitored nearby waters and airspace as the aircraft
Taiwan’s first drag queen to compete on the internationally acclaimed RuPaul’s Drag Race, Nymphia Wind (妮妃雅), was on Friday crowned the “Next Drag Superstar.” Dressed in a sparkling banana dress, Nymphia Wind swept onto the stage for the final, and stole the show. “Taiwan this is for you,” she said right after show host RuPaul announced her as the winner. “To those who feel like they don’t belong, just remember to live fearlessly and to live their truth,” she said on stage. One of the frontrunners for the past 15 episodes, the 28-year-old breezed through to the final after weeks of showcasing her unique