■ Automotive
GM slashes 30,000 jobs
General Motors Corp. Chief Executive Rick Wagoner, who said in June he would eliminate 25,000 North American manufacturing jobs by 2008, today said he will close 12 facilities and cut 30,000 jobs. The world's largest automaker will idle or reduce operations at nine manufacturing sites and several non-manufacturing facilities, Wagoner said at a press conference in Detroit. The closings will trim GM's annual costs by US$7 billion by the end of next year. "The decisions we're announcing today were difficult to reach because of their impact on their employees and the communities where we live and work," Wagoner said. "But these actions were necessary for General Motors to get its costs in line with the major global competitors."
■ Economy
Japan's economy growing
The Japanese government remained upbeat about the economy in its latest monthly report yesterday, saying strong consumer demand combined with a rebound in exports is keeping the nation's recovery going. The Cabinet Office's economic report for November kept the same language as in its previous reports for the fourth straight month, affirming that the economy was "recovering at a moderate pace." The government last upgraded its overall assessment of the economy in August. At that time, it declared the world's second-biggest economy had emerged from a lull. Economists watch for even subtle changes in language in these monthly reports for shifts in the official outlook on the economy. Recent economic indicators suggest Japan's economy, mired in nearly 15 years of sluggish growth, is gaining strength. Japan's gross domestic product grew at an annual rate of 1.7 percent in the July-September quarter, the fourth straight quarter of growth, lifted by consumer spending.
■ Markets
Euro gains on dollar
The euro moved higher against the US dollar yesterday, rising above US$1.18 after comments last week by the European Central Bank's president indicated that an interest rate rise was imminent. The 12-nation euro bought US$1.1803 in early European trading, up from US$1.1764 in New York late Friday. The British pound rose to US$1.7192 from US$1.7169. The dollar also was down against the Japanese yen after a weekend meeting between US President George W. Bush and Chinese President Hu Jintao (胡錦濤) failed to produce a breakthrough on Chinese currency policies. The dollar stood at ¥118.98, down from ¥119.15 on Friday. The euro was boosted on Friday by ECB president Jean-Claude Trichet's statement that the bank was "ready to take a decision" to lift interest rates.
■ Transport
China to buy `bullets'
China plans to place an order for 60 Japanese super-express Shinkansen "bullet" trains, according to a Japanese news report yesterday. The trains are modeled on East Japan Railway Co's high-speed "Hayate" trains, Kyodo News agency reported. The orders will be placed with Kawasaki Heavy Industries Ltd and other Japanese companies as part of a project to increase the speed of China's trains. The company did not immediately confirm the report. The Hayate-model bullet trains operate at a speed of about 275kph.
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
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
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