■ Telecoms
LG Electronics scraps deal
LG Electronics announced yesterday that it has scrapped a deal to acquire a minor South Korean handset maker due to a dispute over price. LG Electronics, the world's fifth-biggest handset maker, agreed in March to take over KTF Technology, the South's fifth-largest handset manufacturer, which is owned 71 percent by mobile operator KTF. "We signed a memorandum of understanding with KTF on March 15. But we decided to close the talks as of today," LG said in a statement. South Korean newspapers reported that LG offered to pay 50 billion won (US$52 million) for the stake while KTF asked for 100 billion won.
■ Entertainment
Disney seeks more visitors
Hong Kong Disneyland is counting on the peak summer season and more aggressive marketing in Chinese cities to help make up for the theme park's lagging attendance, the managing director said yesterday. Bill Ernest said crowd figures at the park have been "slightly behind forecast" since opening last September, but visitor numbers during its first summer season will be crucial for the park's goal of attracting 5.6 million visitors a year. "A lot depends on summer ... July and August are two of the key months typically and I'm hoping they're busy for us here as well," he said in an interview with government broadcaster Radio Television Hong Kong. The park is also hoping to draw in more Chinese visitors by using simplified Chinese characters -- used in the mainland but not in Hong Kong -- on its maps and subtitles for shows, Ernest said.
■ Banking
Koizumi backs Fukui
Prime Minister Junichiro Koizumi supported embattled Bank of Japan (BoJ) Governor Toshihiko Fukui yesterday. Koizumi said there was no need for Fukui to step down if his investments were in line with central bank rules. The BoJ has already said Fukui did not violate internal rules when he invested ¥10 million (US$87,000) several years ago in a fund operated by Yoshiaki Murakami, who was arrested last week for alleged insider trading.
■ Shipping
British port deal offer hiked
Goldman Sachs Group Inc raised its offer for Associated British Ports Holdings PLC to nearly £2.6 billion (US$4.8 billion) yesterday in an attempt to shut out a possible rival bid. Goldman Sachs' Admiral consortium raised its bid to £8.40 per share, just a day after it had reached agreement with AB Ports for a takeover at £8.10 per share. AB Ports, which owns 21 ports across Britain including Grimsby and Hull, as well as a 49 percent stake in the Southampton container port, had rejected Goldman Sachs' bid of 730 pence a share in March.
■ Internet
Ebay promotes Skype buys
EBay pressed its bid to bolster trading at its online auction site by announcing Wednesday it would enable US-based buyers to connect with sellers using its Internet telephony service Skype. Beginning this month, eBay will test giving US sellers in 14 categories the option of having postings include "Skype Me" buttons that prospective buyers could click on to call them instantly via the Internet. Since buying Skype last year, eBay has integrated Internet telephone call features into its auction sites in Belgium, China, Switzerland, and the Netherlands, according to a spokesman.
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source
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