AT&T eyeing Telecom Italia
US telecommunications giant AT&T said on Sunday it was in negotiations for a potential indirect investment in Telecom Italia. The company statement said the proposal is for AT&T to purchase a one-third stake in Olimpia, a holding company that owns approximately 18 percent of Telecom Italia. As part of these negotiations, America Movil also is considering an investment for one-third of the shares of Olimpia. AT&T's investment is contingent on America Movil's investment. AT&T is in negotiations on the potential investment to acquire the interest from Pirelli, which owns 80 percent of Olimpia. Olimpia holds only Telecom Italia assets.
■ MOBILE PHONES
Growth estimate revised
Nokia Siemens Networks, which began operations last Sunday, said yesterday it expects "very slight" growth this year, downgrading earlier estimates by the two companies that formed the joint venture. "Over the last couple of months, there has been a narrowing of visibility and indications of a slowdown in spending in some regions," Nokia said. "As a result, Nokia and Nokia Siemens Networks today are updating the outlook for the mobile and fixed services infrastructure market for 2007." "The companies now expect very slight market growth for the mobile and fixed infrastructure and related services market in euro terms in 2007," Nokia said.
GM to unveil new cars
General Motors Corp will unveil a new pair of concept cars in its Chevrolet and Buick lines at this month's Shanghai Auto Show, which runs from April 22 through April 28, GM China said yesterday. The cars will be among 40 vehicles the company and its Chinese joint venture partners plan to display as GM increasingly looks to China to offset sluggish sales and crippling legacy costs elsewhere. GM said the concept cars include the latest version of the Chevrolet Volt, the company's extended-range electric passenger vehicle which was introduced in January at the North American International Auto Show in Detroit, Michigan.
Authorities launch probe
Labor authorities have launched an investigation into allegations that McDonald's, KFC and Pizza Hut are underpaying local part-time workers, state media said yesterday. Labor officials in the southern province of Guangdong, where the issue was first uncovered by local media, have broadened their investigation from the provincial capital Guangzhou to the whole province, the People's Daily said. The Guangzhou-based New Express reported last week that McDonald's, KFC and Pizza Hut had violated labor laws by underpaying part-time workers by up to 40 percent.
TGV to make record bid
France's TGV fast train is to make a bid to beat its own world speed record today, amid reports that in recent unofficial tests it reached nearly 570kph. Weather conditions permitting, a TGV train will be driven during the afternoon along a stretch of the new high-speed line built between Paris and the eastern city of Strasbourg. On Saturday Le Parisien newspaper reported that in a recent trial a TGV train travelled at 568kph -- well in excess of the 513.3kph record which was set by a TGV train in 1990.
NPP WARNING: The NPP’s chairman said that a security law proposed by Beijing means it has renounced its promise to maintain ‘one country, two systems’ in HK The Taiwan People’s Party (TPP) yesterday proposed changing the law to provide protection for those seeking political asylum. China at the opening of the National People’s Congress in Beijing on Thursday introduced a draft security law for Hong Kong to ban treason, subversion and sedition, with a review expected next week. TPP caucus whip Jang Chyi-lu (張其祿) said that the party is concerned about democracy advocates in Hong Kong and has taken action to support them. The party has proposed an amendment to Article 18 of the Act Governing Relations with Hong Kong and Macau (香港澳門關係條例), which stipulates that the government can offer
The number of people from Hong Kong applying for residency in Taiwan last year rose 41 percent from a year earlier to 5,858, National Immigration Agency statistics showed. The statistics also showed that 600 applications were filed by Hong Kong residents in the first quarter of this year — three times the number filed in the same period last year — with applicants apparently not deterred by the COVID-19 pandemic. Just one day after it was reported that the Chinese government plans to enact new national security laws in Hong Kong, inquiries regarding immigration to Taiwan grew 10-fold, a Hong Kong-based immigration
‘BEGINNING OF THE END’: Democracy advocate Joshua Wong urged Hong Kongers to stand up and fight, and let the Chinese government know that they will not cave Hong Kong protesters yesterday battled with riot police in busy downtown areas, showing their opposition toward China’s dramatic move to crack down on dissent in the biggest demonstration since the coronavirus swept through the territory in January. Police deployed a water cannon and fired tear gas in the Causeway Bay shopping area after hundreds of protesters had gathered to oppose new national security legislation from China. Police warned the crowd they were taking part in an illegal gathering, and later said in a statement that “rioters threw umbrellas, water bottles and other objects at them.” At least 120 people were arrested,
‘TAIWAN IS SAFE’: As there have been no new local cases for 42 days, people should feel free to travel around the nation — as long as they follow disease prevention rules No new cases of COVID-19 were reported yesterday and only 20 of the people hospitalized after testing positive are still being treated in hospitals, Minister of Health and Welfare Chen Shih-chung (陳時中) said yesterday in Pingtung County’s Kenting (墾丁) as he promoted a “new disease prevention lifestyle” for the nation. As yesterday was the 42nd consecutive day with no new domestic cases, and experts consider 28 consecutive days with no domestic case — the span of two incubation periods — a sign that a community is relatively safe, Taiwan is safe, said Chen, who heads the Central Epidemic Command Center (CECC),