■ Internet
eBay profits 53 percent up
Online auction site eBay posted a quarterly profit of US$291.6 million on Wednesday, a 53 percent rise over the same period last year. Revenue for the period totaled US$1.09 billion, a 40 percent increase from last year's US$773.4 million. The number of active users, plus the amount of merchandise sold through the site also displayed strong growth, the company said. "Excellent momentum in the US and Germany, as well as at PayPal, all helped deliver an impressive jump in revenues and profit," eBay Chief Executive Meg Whitman said in statement. EBay also boosted its third-quarter revenue forecast to a range of US$1.05 billion to US$1.07 billion, from US$1.04 billion to US$1.06 billion previously.
■ Corporate
CNOOC says bid still stands
State-owned energy company China National Offshore Oil Corp (CNOOC, 中國海洋石油) said yesterday its all-cash deal for US oil giant Unocal remained on the table and no immediate counter bid would be made a day after rival Chevron sweetened its offer. "In the interests of protecting our shareholders, CNOOC's all-cash share offer has not been changed and remains in effect," spokesman Xiao Zongwei said. "The offer is US$67 per share." CNOOC has offered US$18.5 billion for Unocal. On Wednesday Unocal, the ninth-largest US oil company, and Chevron jointly announced their agreement to an improved offer from Chevron. The new Chevron bid values Unocal at US$63.01 per share based on its closing price on Tuesday. Its earlier bid in April stood at US$60.51 in cash and stock. The revised offer consists of 40 percent cash and 60 percent stock.
■ Telecoms
Ericsson profits rise
Telecommunications giant Ericsson, the world's largest supplier of mobile systems, reported yesterday a rise in second-quarter earnings amid a global recovery of demand for telephone networks. Net profit increased to 5.8 billion Swedish kronor (US$744 million) for the three months to June 30, against 5 billion a year earlier. Sales rose to 38.4 billion kronor from 32.6 billion and earnings per share to 0.37 kronor from 0.31. Chief executive Carl-Henric Svanberg said the quarterly performance, which outstripped financial analysts' forecasts, had been "robust."
■ Retail
Disneyland gets fashion line
Hong Kong Disneyland has taken its pre-opening publicity blitz to the shopping masses, launching a fashion line with the popular bargain fashion retail chain Giordano. The line features adult and children's T-shirts and sweat shirts featuring Disney characters like Mickey Mouse to Nemo, Hong Kong-based Giordano International Ltd said on its Web site yesterday. Giordano is popular because of its low prices. A standard T-shirt costs HK$40 (US$5) The Disney clothing is priced above Giordano's typical range but still cheaper than the higher-end apparel available at Hong Kong Disneyland, set to open on Sept. 12. The Giordano Disney T-shirts cost HK$80 each. By comparison, a sequined T-shirt featuring Mickey Mouse in a magician's outfit on sale at Hong Kong Disneyland is priced HK$380. The Disney collection is already available in Hong Kong and will launch in China next week, Taiwan and southeast Asia next month, and South Korea and Australia in September.
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
LANDSLIDES POSSIBLE: The agency advised the public to avoid visiting mountainous regions due to more expected aftershocks and rainfall from a series of weather fronts A series of earthquakes over the past few days were likely aftershocks of the April 3 earthquake in Hualien County, with further aftershocks to be expected for up to a year, the Central Weather Administration (CWA) said yesterday. Based on the nation’s experience after the quake on Sept. 21, 1999, more aftershocks are possible over the next six months to a year, the agency said. A total of 103 earthquakes of magnitude 4 on the local magnitude scale or higher hit Hualien County from 5:08pm on Monday to 10:27am yesterday, with 27 of them exceeding magnitude 5. They included two, of magnitude
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
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