Sony posts record profit
Japan's Sony Corp said yesterday that its third-quarter net profit jumped 25 percent to a record high, helped by the flotation of its financial arm and reduced losses from the PlayStation 3. Sony said its game unit had finally swung back into the black after it introduced a cheaper version of the video game console in response to fierce competition from rival Nintendo Co. Net profit rose 25.2 percent to ¥200.2 billion (US$1.88 billion) in the last three months of last year, a company statement said. Sony also revised its full-year outlook, predicting a 169 percent rise in net income to ¥340 billion, up from a previous forecast of ¥330 billion.
Matsushita's profit up 46%
Japanese electronics maker Matsushita Electric Industrial Co said yesterday its profit climbed 46 percent in the last quarter of last year on strong sales of appliances and digital audiovisual products. Matsushita's net income rose to ¥115.2 billion (US$1.08 billion) from ¥78.7 billion in the same period the previous year, the maker of Panasonic brand products said in a release. Quarterly sales fell 4 percent to ¥2.34 trillion from ¥2.44 trillion a year earlier, the Osaka-based manufacturer said. Matsushita left unchanged its forecast for the fiscal year ending March next year at ¥246 billion profit on sales of ¥8.780 trillion.
New Beijing airport planned
China's aviation regulator has recommended building a second Beijing airport by 2015 to cope with surging travel, news reports said yesterday. The proposal comes as the Chinese capital's current airport prepares to open a new terminal next month that will double its size ahead of the Beijing Olympics in August. Regulators have formally recommended building the new airport and are trying to pick a site, Xinhua news agency and newspapers said, citing Yang Guoqing (楊國慶), deputy minister of the General Administration of Civil Aviation of China. The existing Beijing airport, which says it is one of the world's 10 busiest, has expanded repeatedly in recent years in response to fast-growing traffic.
Shell's net profit soars
Anglo-Dutch oil giant Royal Dutch Shell said yesterday that net profits leapt 23 percent last year to a record US$31.33 billion, energized by soaring crude prices. Net profit on a current cost of supply basis, excluding fluctuations in the value of inventories, rose 9 percent to US$27.56 billion last year, compared with the figure for 2006. The record-breaking figures were recorded last year as oil prices raced towards US$100 per barrel. In the fourth quarter alone, net profit rocketed 60 percent to US$8.47 billion, compared with the same period of 2006, Shell said.
Samsung told to pay up
A court yesterday ruled in favor of creditors of Samsung's failed automaking unit, which had sued the group for US$4.5 billion in South Korea's biggest civil lawsuit. The Seoul Central District Court ordered Samsung subsidiaries to sell shares given to creditors in 1999 in lieu of Samsung Motor's huge debts. But it reduced the repayment claimed by the creditors. It ruled that Samsung should sell 2.3 million shares rather than 3.5 million, because key creditor Seoul Guarantee Insurance had already sold the margin to others.
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
Americans awoke yesterday to charred and glass-strewn streets in dozens of cities after another night of unrest fueled by rage over the mistreatment of African Americans at the hands of police, who responded to the violence with tear gas and rubber bullets. Tens of thousands marched peacefully through streets to protest the death of George Floyd, a black man who died on Monday last week after a white Minneapolis police officer pressed his knee on his neck until he stopped breathing. However, many demonstrations sank into chaos as night fell: Vehicles and businesses were torched. The words “I can’t breathe” were
The nation marked its 49th day with no new domestic COVID-19 cases yesterday, and there were no new imported cases, but that does not mean the Central Epidemic Command Center (CECC) can relax its attention, Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the center, said yesterday in Tainan as he and a team of health officials wrapped up a weekend visit to the city. The visit is part of the center’s efforts to promote domestic travel under the “new disease prevention lifestyle.” Among the 442 confirmed cases, 423 have been released from isolation and 12 people remain hospitalized, Chen
EXTRA INVITATIONS: Russia, Australia, South Korea and India would be asked to a later summit dedicated to countering China, Donald Trump said US President Donald Trump has been forced to cancel a planned face-to-face summit of G7 leaders this month and now wants to host an expanded meeting in September dedicated to countering China to which Russian President Vladimir Putin would be invited. Trump on Saturday announced that he had canceled the June meeting, which he had billed as a symbol of the US “transitioning back to greatness,” after German Chancellor Angela Merkel told him in a telephone call that she saw the summit in Washington as a health risk. Hundreds of security staff, journalists and officials also attend the two-day summits. Reports suggest