■ STEEL
ArcelorMittal posts profits
ArcelorMittal, the world's largest steel company, reported yesterday an annual net profit of US$10.36 billion for last year. The results represented a 30 percent increase from 2006 when the steelmaker posted a pro forma net profit of US$7.9 billion, the company said in a statement. The results marked the first full year following the merger of Arcelor and Mittal Steel in June 2006. "I am very proud of the way the two companies have integrated so successfully, building a steel company which is focused on leading the transformation of our industry towards a sustainable future," Lakshmi Mittal, president and CEO, said in the statement.
■ INTERNET
Yahoo acquires Maven
Undeterred by the threat of a hostile takeover, slumping Internet pioneer Yahoo Inc completed an acquisition of its own on Tuesday by buying online video service Maven Networks Inc for US$160 million. The deal marks Yahoo's latest attempt to expand its online advertising network and snap out of a two-year financial funk that has culminated in unsolicited takeover offer from Microsoft Corp. Yahoo's board rejected the bid on Monday, prompting Microsoft to raise the possibility of taking its offer -- originally valued at US$44.6 billion or US$31 per share -- directly to shareholders.
■ ELECTRONICS
BlackBerry problem solved
A disruption of BlackBerry cellphones in North America for several hours on Monday was caused by the failure of one of its recently upgraded systems, Research in Motion said on Tuesday. The Canadian maker of the hugely popular mobile devices that combine telephone, e-mail and Internet capabilities said its preliminary analysis "points to a problem with an internal data routing system within the BlackBerry service infrastructure that had been recently upgraded." The upgrade was part of RIM's routine and ongoing efforts to increase overall capacity to meet long-term growth in demand, the company said.
■ INTERNET
Valentine's Day warning
Valentine's Day e-greetings from a stranger could deliver more than the recipient bargained for in the shape of a destructive "Trojan horse" that hijacks computers, the FBI warned on Tuesday. "If you unexpectedly receive a Valentine's Day e-card, be careful," the FBI said in a statement, warning Internet users to "be on the lookout for spam e-mails spreading the Storm Worm malicious software [malware]." "The Storm Worm virus has capitalized on various holidays in the last year by sending millions of e-mails advertising an e-card link within the text of the spam e-mail. Valentine's Day has been identified as the next target," the FBI said.
■ PUBLIC RELATIONS
Pro bono summit held
Some of the US' biggest companies are pledging to work free of charge as part of a US$1 billion campaign to be announced at a pro bono summit yesterday. The campaign's goal is to get US$1 billion in pledges over the next three years from companies that will give employee time to nonprofit groups. Organized by the President's Council on Service and Civic Participation, the campaign is designed to help nonprofits fulfill back-office services such as marketing, accounting, technology and management consulting.
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
CHINA REACTS: The patrol and reconnaissance plane ‘transited the Taiwan Strait in international airspace,’ the 7th Fleet said, while Taipei said it saw nothing unusual The US 7th Fleet yesterday said that a US Navy P-8A Poseidon flew through the Taiwan Strait, a day after US and Chinese defense heads held their first talks since November 2022 in an effort to reduce regional tensions. The patrol and reconnaissance plane “transited the Taiwan Strait in international airspace,” the 7th Fleet said in a news release. “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.” In a separate statement, the Ministry of National Defense said that it monitored nearby waters and airspace as the aircraft
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source