EU to scrap China quota
The European Commission and China have agreed to scrap the quota restrictions on Chinese textiles next year in favor of a monitoring system, the EU's executive arm said yesterday. The quotas will be replaced by a textile import "double checking system," which will track both the issuing of export licenses in China and the import of goods into the EU, the commission said. "I welcome this further step in the cooperation between the EU and China in ensuring a smooth transition to free trade in textiles," EU Trade Commissioner Peter Mandelson said in a statement.
Sprint Nextel boss quits
Sprint Nextel Corp, the third-largest US wireless provider, said on Monday that Gary Forsee, its chairman, president and chief executive, is stepping down, effective immediately. Sprint said it decided to replace Forsee based on its board's belief that it is the "right time to put in place new leadership." The company also warned it expects to report a net loss of approximately 337,000 post-paid subscribers in the third quarter and projects this year's operating revenue will be slightly below its previously targeted range of US$41 billion to US$42 billion.
UAW sets Chrysler deadline
Fresh off a two-day strike at General Motors Corp, the United Auto Workers (UAW) union has set a strike deadline of today for contract negotiations with Chrysler LLC, a source close to the negotiations said on Monday. The union will not necessarily walk off the job if an agreement is not reached by the deadline of 11am today, the source said. Negotiations could be extended on an hourly or daily basis. The UAW is using a landmark agreement reached with GM as a framework for negotiations with Chrysler. But Chrysler officials have said that the firm's new owner -- private equity group Cerberus Capital Management -- does not want to pay to transfer the administration of retiree health care to the union.
Sallie Mae to sue investor
Sallie Mae said on Monday that it was suing the investor group that had offered to acquire the US' largest student lender in order to force the buyers to go through with their original US$25 billion deal or else pay a US$900 million breakup fee. The buyers group, led by private equity company J.C. Flowers & Co, has said that student loan legislation signed into law by US President George W. Bush last month, in addition to weaker economic conditions, made the US$60-a-share price agreed upon in April unacceptable. Sallie Mae said it expected the buyers to honor their contract.
PlayStation 3 prices cut
Sony Corp's game unit said yesterday that it would cut the prices of its next generation PlayStation 3 game consoles in Japan next week and offer a new low-range model next month. Sony Computer Entertainment Inc will cut the price of its model with 20 gigabytes of hard disk memory by about 10 percent to &YEN;44,980 (US$384) from &YEN;49,980, effective Oct. 17, it said in a statement on its Web site. The price of the 60GB models will be cut to about &YEN;54,980. A new lower-tier 40GB model will hit Japanese stores on Nov. 11 at a suggested retail price of &YEN;39,980.
SAFETY RISK: The government is working to categorize countries based on their COVID-19 cases and prevention efforts, which would determine quarantine periods The government plans to rank countries based on their COVID-19 risks to determine how to treat tourists and other travelers from those nations once Taiwan reopens its borders, but it is still working out the categories, a top health official told lawmakers yesterday. “We would divide countries around the world into several categories. One category would comprise those countries with very few confirmed COVID-19 cases, such as New Zealand and Palau. Travelers from the countries in this category would only need to practice self-health management,” Centers for Disease Control Deputy Director-General Chuang Jen-hsiang (莊人祥) told a Legislative Yuan seminar hosted by
‘NEW LIFE HAS COME’: A total of 939,090 people voted to remove Han Kuo-yu from office, more than the 892,545 votes he won to become mayor in 2018 Kaohsiung residents in a recall vote yesterday overwhelmingly voted to remove Kaohsiung Mayor Han Kuo-yu (韓國瑜) of the Chinese Nationalist Party (KMT) from office. The result made Han the nation’s first special municipality head to be recalled, just a year-and-a-half after he won a surprise victory over a candidate from the Democratic Progressive Party (DPP), which had run the city for two decades. The vote was 939,090 in favor of recall and 25,051 against, with a 42.14 percent voter turnout, Kaohsiung City Election Commission data showed. There are 2,299,981 eligible voters in the city, the data showed. At least 25 percent of
People using Taipei’s MRT metropolitan railway network and public bus system would no longer be required to wear masks at all times when in stations, metro cars or buses from tomorrow, Taipei Deputy Mayor Vivian Huang (黃珊珊) announced yesterday. The mask requirement on public transport in Taipei is being eased on the same day the central government plans to relax disease prevention measures on trains and domestic flights, as there have been no domestic COVID-19 infections in nearly two months, she said. “As long as social distancing can be maintained,” passengers riding the MRT and public buses in the city can remove
SECURITY CONCERNS: The Telecom Technology Center ran black-box tests for the Executive Yuan on devices and software from Chinese, US and South Korean firms Network devices from several Chinese manufacturers are insecure and allow personal information to be leaked, testing commissioned by the Executive Yuan has shown. A variety of devices and software, including apps, from Chinese, US and South Korean manufacturers that are used by government agencies at the central and local level were subjected to black-box testing — in which the functionality of an application is examined without knowing about its internal structure, an information-security official said yesterday on condition of anonymity. The Telecom Technology Center conducted the tests, which simulated cyberattacks, to determine their resilience to the attacks, the official said. The center