Bancrofts face deadline
Members of the family that controls Dow Jones & Co Inc were asked to decide by midnight last night whether they would support Rupert Murdoch's News Corp's US$5 billion bid for the news organization, a source familiar with the situation said on Sunday. News Corp made its US$60 a share bid for Dow Jones, the publisher of the Wall Street Journal, on May 1. The board of Dow Jones endorsed the offer two weeks ago, sending the deal to the Bancroft family for approval. The Bancrofts holds 64 percent of the firm's voting shares. The WSJ reported that as of late Sunday night, nearly 28 percent of the votes favored the deal, citing a person close to Dow Jones's board. News Corp needs 30 percent to assure a comfortable margin, the WSJ reported.
Industrial output rises 1.2%
Japan's industrial output grew 1.2 percent last month, the first increase in four months as factories stepped up output after a recent soft patch, official data showed yesterday. The month-on-month rebound was seen as supporting the central bank's case for an interest rate rise next month although views are divided on the chances of a hike. Production was 1 percent higher last month compared with a year earlier, lifted by rising output of electronic parts and devices, automobiles and IT equipment, according to the report, which matched market expectations. But the government was reluctant to upgrade its assessment of the overall trend in industrial output. Manufacturers were upbeat about the outlook, forecasting on average that output would rise 1.8 percent this month from last and by 4.9 percent next month.
Boeing looks to India
Boeing Co raised its 20-year sales outlook for India as demand for transporting passengers and cargo grows in India. The country is expected to buy as many as 911 new planes worth US$86 billion by 2027, Chicago-based Boeing said in a statement in New Delhi yesterday. That's 6.4 percent more than the forecast for 856 planes until 2026 made by Boeing last August. Indian carriers ordered more than 450 planes for US$30 billion in the past four years to capitalize on an annual 25 percent growth in air travel.
Ghosn denies overreaching
Carlos Ghosn has denied he overstretched himself by taking the top job at both France's Renault and Nissan Motor Co, following the Japanese automaker's recent profit slump. Nissan's financial troubles are "disappointing" but the automaker is still "extremely profitable," Ghosn said in the Financial Times yesterday. He said it made sense for him to head both firms. "If I were running two independent companies with no synergies, it would be too much. These two companies have a lot in common [and] that's why I'm here," he was quoted as saying. He said the move earlier this year to give up the running of Nissan's US operations had been long planned, adding, "It's not that I was overstretched."
Phone deal reached
A Venezuelan-Chinese firm will begin producing mobile telephones in Venezuela, Telecommunications Minister Jesse Chacon said on Sunday. A joint venture involving Telecom Venezuela and Huawei would produce as many as 2 million mobile phones annually, Chacon told the state-run Bolivarian News Agency. The model will also use the GSM system, he said.
UNFIT TO LEAD? The WHO head blamed Taiwan for attacks on his person and said that the nation’s bid to join had an ‘ulterior political motive,’ a report said WHO Director-General Tedros Adhanom Ghebreyesus should not allow politics to supersede professionalism, Presidential Office spokesman Xavier Chang (張惇涵) said yesterday after it was reported that Tedros had complained about Internet commentary that he was pro-China and unfit to continue in his position. The Chinese-language report by Up Media on Thursday cited a source familiar with Taiwanese foreign affairs as saying that Tedros blamed Taiwan for attacks on his person and that the nation’s bid to join the WHO had an “ulterior political motive.” While Chang said he could not be certain what Tedros had said, regardless of the comments, his allegations were
‘TAIWAN MODEL’: The government aims to determine whether using normal scheduled flights better meets its objectives than the charter flights used previously The Straits Exchange Foundation yesterday announced a third set of flights to evacuate 440 Taiwanese from China’s Hubei Province due to the COVID-19 pandemic. The flights, operated by China Airlines Ltd (中華航空) according to its normal schedule, are on Sunday and Monday next week. They are to depart Shanghai Pudong International Airport at 7:50pm and arrive at Taiwan Taoyuan International Airport at 9:50pm, the foundation said. China Airlines is to dispatch two Boeing 777. The aircraft has a capacity of 358 passengers, but each would only carry 220 to ensure a proper distance is maintained between those onboard, it said. Within hours of the foundation
Venezuelan President Nicolas Maduro on Thursday stood defiant in the face of a US$15 million bounty issued by the US for him to face drug trafficking charges, calling US President Donald Trump a “racist cowboy,” and warning that he is ready to fight by whatever means necessary should the US and Colombia dare to invade. Maduro’s bellicose remarks came hours after the US announced sweeping indictments against him and several members of his inner circle, for allegedly converting Venezuela into a criminal enterprise at the service of drug traffickers and terrorist groups. One indictment by prosecutors in New York accused Maduro and
The Central Epidemic Command Center (CECC) yesterday reported 17 new cases of COVID-19, bring the nation’s total number of confirmed cases to 252. Of the new cases, 15 were imported and two were locally transmitted, Minister of Health and Welfare Chen Shih-chung (陳時中) said at the center’s daily news conference in Taipei. The 15 imported cases were seven women and eight men in their 20s to 60s who entered Taiwan between Monday last week and Monday this week, said Chen, who also heads the center. Prior to the onset of their illness, they had traveled to the US, the UK, New Zealand, Spain,