■ Rankings
Exxon tops `Fortune' 500 list
Exxon Mobil pushed aside Wal-Mart Stores for the top spot on the Fortune 500 list of the biggest US companies by revenue, the magazine said on Monday. The list, which ranks publicly traded US companies, pegs Exxon Mobil's revenue last year at about US$340 billion, with profits of US$36 billion. Wal-Mart made a profit of about US$11 billion on revenue of US$316 billion. Rounding out the top 10 on the list were General Motors; Chevron; Ford Motor; ConocoPhillips; General Electric; Citigroup; American International Group; and IBM.
■ Internet
Softbank begins tender offer
Japanese Internet empire Softbank began a tender offer for Vodafone's local unit yesterday in line with last month's takeover deal, after reportedly securing loans of more than US$10 billion to fund the acquisition. Softbank plans to complete the offer by April 24. Its wholly-owned subsidiary, BB Mobile, will acquire 97.7 percent of Vodafone KK from the British mobile phone giant for ?1.75 trillion (US$14.9 billion). Vodafone, the world's biggest mobile phone company, last month agreed to sell its struggling Japanese unit to Softbank in one of Japan's biggest ever acquisitions.
■ Communications
NTT DoCoMo offers credit
NTT DoCoMo Inc, the world's second-biggest mobile phone operator, will issue credit cards through its "iD" handset-based payments service. Consumers will pay for spending on the cards, available starting April 28, as part of their mobile phone service bill, the company said in a statement. DoCoMo will collect commissions on transactions. DoCoMo's simplest cellphone based credit card lets users charge up to ?10,000 (US$85) per month with no membership fees. The service is available on "iD"-equipped phones by downloading the software on the handset and inputting a security code.
■ Software
Mphasis mulls bid by EDS
The board of Indian software firm Mphasis was to meet yesterday to consider a US$380 million bid for a majority stake from US technology giant EDS, a company spokesman said. Mphasis spokesman Vivek Dayal termed the offer "positive" but said the board was to discuss it further yesterday. "Let us see the offer document first," the spokesman said. EDS has offered 204.5 rupees (US$4.58) a share as part of an effort to buy a 52 percent stake in the firm listed in India. "This offer is complementary to our overall strategy to enhance EDS's presence and capabilities in India," EDS chairman and chief executive Mike Jordan said in a statement.
■ Media
NTL to buy Virgin Mobile
US Cable operator NTL said yesterday that it would acquire British telecommunications group Virgin Mobile for ?962.4 (US$1.68 billion). The deal will create the first media company in Britain to offer "quadruple-play" packages of television, broadband, fixed-line and mobile telecoms services, which NTL hopes will increase the competitive pressure on rivals including British telecommunications company BT Group and satellite broadcaster BSkyB. After entering into a 30-year licensing deal with Virgin founder Richard Branson, who owns 72 percent of the mobile phone group, NTL said it would be able to "harness" the brand recognition Virgin has built up with British consumers.
NO HUMAN ERROR: After the incident, the Coast Guard Administration said it would obtain uncrewed aerial vehicles and vessels to boost its detection capacity Authorities would improve border control to prevent unlawful entry into Taiwan’s waters and safeguard national security, the Mainland Affairs Council (MAC) said yesterday after a Chinese man reached the nation’s coast on an inflatable boat, saying he “defected to freedom.” The man was found on a rubber boat when he was about to set foot on Taiwan at the estuary of Houkeng River (後坑溪) near Taiping Borough (太平) in New Taipei City’s Linkou District (林口), authorities said. The Coast Guard Administration’s (CGA) northern branch said it received a report at 6:30am yesterday morning from the New Taipei City Fire Department about a
IN BEIJING’S FAVOR: A China Coast Guard spokesperson said that the Chinese maritime police would continue to carry out law enforcement activities in waters it claims The Philippines withdrew its coast guard vessel from a South China Sea shoal that has recently been at the center of tensions with Beijing. BRP Teresa Magbanua “was compelled to return to port” from Sabina Shoal (Xianbin Shoal, 仙濱暗沙) due to bad weather, depleted supplies and the need to evacuate personnel requiring medical care, the Philippine Coast Guard (PCG) spokesman Jay Tarriela said yesterday in a post on X. The Philippine vessel “will be in tiptop shape to resume her mission” after it has been resupplied and repaired, Philippine Executive Secretary Lucas Bersamin, who heads the nation’s maritime council, said
REGIONAL STABILITY: Taipei thanked the Biden administration for authorizing its 16th sale of military goods and services to uphold Taiwan’s defense and safety The US Department of State has approved the sale of US$228 million of military goods and services to Taiwan, the US Department of Defense said on Monday. The state department “made a determination approving a possible Foreign Military Sale” to the Taipei Economic and Cultural Representative Office in the US for “return, repair and reshipment of spare parts and related equipment,” the defense department’s Defense Security Cooperation Agency said in a news release. Taiwan had requested the purchase of items and services which include the “return, repair and reshipment of classified and unclassified spare parts for aircraft and related equipment; US Government
More than 500 people on Saturday marched in New York in support of Taiwan’s entry to the UN, significantly more people than previous years. The march, coinciding with the ongoing 79th session of the UN General Assembly, comes close on the heels of growing international discourse regarding the meaning of UN Resolution 2758. Resolution 2758, adopted by the UN General Assembly in 1971, recognizes the People’s Republic of China (PRC) as the “only lawful representative of China.” It resulted in the Republic of China (ROC) losing its seat at the UN to the PRC. Taiwan has since been excluded from