Don Muang to reopen
Thailand agreed yesterday to reopen Bangkok's Don Muang airport for interna-tional and domestic flights amid growing problems at the new Suvarnabhumi Airport. "We need to time to make repairs and improve-ments at Suvarnabhumi airport because of the many flaws," Thai Prime Minister Surayud Chulanont told reporters after a Cabinet meeting. "Today the Cabinet has agreed to reopen Don Muang as an international airport." The move, which still needs final approval, means that international flights would be divided between the two airports. A government-appointed committee will submit a detailed plan for reopening Don Muang to the Cabinet in two weeks, after which Don Muang could be reopened in 45 days, Transport Minister Thira Hao-Charoen said.
IBM selling Lenovo shares
US computer giant IBM Corp yesterday planned to sell a substantial part of its stake in China's Lenovo (聯想), the world's third-largest personal computer group, to raise up to HK$990 million (US$127 million). According to a term-sheet sent to institutional investors, the sale price of the 300 million shares on offer will be HK$3.20 to HK$3.30 each, a 4.07-6.98 percent discount to the stock's closing price of HK$3.44 on Monday. The deal accounts for 3.5 percent of Lenovo Group's total issued share capital. After the share sale, IBM's shareholding in Lenovo will be reduced to 11.5 percent from 15 percent. Lenovo also requested a suspension of trade in it shares yesterday pending an announcement of "price-sensitive information" relating to the placing of its shares by a substantial shareholder, a statement posted on the Hong Kong stock exchange showed.
Toyota reports profit jump
Toyota yesterday reported a 7.3 percent jump in quarterly profit on booming sales in North America and Europe that offset sluggish demand in Japan. Toyota Motor Corp recorded group net profit of ¥426.8 billion (US$3.6 billion) in the three months ended Dec. 31, up from ¥397.6 billion in the same period the previous year. Quarterly sales climbed 15.2 percent to ¥6.15 trillion from ¥5.33 trillion a year ago, as the remodeled RAV 4 sport utility vehicle and Camry mid-sized sedan sold briskly in North America and demand was strong for the Yaris compact in Europe, Toyota said in a release.
Layoffs at DaimlerChrysler
DaimlerChrysler plans to slash 10,000 factory jobs in the US as part of a sweeping cost-cutting plan for its struggling Chrysler Group, the Detroit News reported on Monday. Citing a plan expected to be unveiled next Wednesday, the News said the German-US auto group also plans to implement "unprecedented" collabora-tion between the mass-market Chrysler and luxury Mercedes groups.
State Street to buy Investors
State Street Corp said on Monday that it would buy Investors Financial Services Corp in a US$4.5 billion stock deal that highlights the accelerating pace of consoli-dation in the securities processing business. The deal has been approved by the boards of the two rivals, both based in Boston. State Street is offering 0.906 shares of its stock for each share of Investors Financial Services common stock, based on last Friday's closing share price. That places the value of the deal at just less than US$4.5 billion.
HONG KONG SECURITY: The president blasted regulations requiring Taiwanese agents or political organizations to provide information on their Hong Kong-related activities President Tsai Ing-wen (蔡英文) yesterday warned of countermeasures should controversial Chinese national security legislation imposed on Hong Kong undermine or harm Taiwanese interests. Article 43 of the legislation empowers the Hong Kong Special Administrative Region to serve written notices to Taiwanese political organizations or individual agents to furnish information on their Hong Kong-related activities, including their personal particulars, finances, assets, expenditure and capital in the territory. Failure to comply or providing false or incomplete information can result in a fine of HK$100,000 (US$12,903) or imprisonment of six months or two years respectively. Tsai said that Taiwan would keep a close watch on how
PROBE LAUNCHED: An officer who served as a supervisor in the drill died in an apparent suicide after the accident, which was caused by unexpected waves Two marines who were on Friday injured in a military exercise in the waters off Kaohsiung passed away yesterday, Navy Command said. The marines — surnamed Tsai (蔡), 26, and a sergeant surnamed Chen (陳), 36 — were in a seven-member Marine Corps team that encountered rough seas during a simulated response to enemy forces landing on Taiwan. Their rubber craft overturned in waters off Taoziyuan (桃子園) beach in Zuoying District (左營), injuring four of the marines. They were rushed to hospital, where three of them — Tsai, Chen and a 34-year-old sergeant — were taken to an intensive care unit
MORAL COURAGE: The Ministry of Foreign Affairs urged the global community to face China’s intention to subdue Taiwan and reject such irrational requests The Ministry of Foreign Affairs yesterday strongly condemned the Chinese government for meddling with US officials’ interactions with Taiwan after FBI Director Christopher Wray revealed China’s efforts to discourage US officials from visiting Taiwan. The greatest long-term threat to the US’ information security and intellectual property, as well as its economic vitality, is China’s counterintelligence and economic espionage operations, Wray told a video event at the Hudson Institute in Washington. Beijing is engaged in a highly sophisticated and maligning foreign influence campaign, with methods that include bribery, blackmail and covert deals, he said. Giving an example, Wray said that when a US official
CAUTION: Taiwan had zero cases of death from food poisoning for six years until last year, when two people died after eating wildlife, an FDA official said The Food and Drug Administration (FDA) yesterday urged the public not to eat wildlife or unidentified wild plants, as they could be fatal, with nearly 7,000 people affected by food poisoning last year, including two deaths due to wildlife consumption. The number of food poisoning incidents increased by nearly 50 percent last year, from 398 cases involving 4,616 people in the previous year to 503 cases involving 6,944 people, FDA data showed. That figure was the second-highest in history, the FDA said, adding that the highest number was recorded in 1997, with 7,235 people. Among the 503 cases, 87 were food poisoning clusters