Tesco profits jump 11%
Britain’s biggest retailer, Tesco, said yesterday its net profit jumped by almost 11 percent during the group’s first half to more than £1 billion (US$1.8 billion) as it beat off economic woes. Tesco said in an earnings statement that profit after tax increased 10.9 percent to £1.038 billion in the six months to Aug. 23, compared with the same period last year. The supermarket giant also said it was on track to create 30,000 jobs this year.
Alico gets fund boost
A Japanese insurer that is a unit of troubled American International Group Inc (AIG) has received ¥90.7 billion (US$872 million) in additional funds to bolster its financial strength, the company said yesterday. Alico Japan said it received the money on Monday from its US parent, American Life Insurance Co, which is part of the AIG group, after the plunge in the price of AIG shares. As a result, Alico Japan’s capital base stands at ¥328.2 billion, it said in a statement. Alico Japan has been reassuring its clients that there will be no problems with their insurance policies.
Toyota adds rear airbag
Toyota has developed a rear window air bag to upgrade protection for back-seat passengers, the company said yesterday. In the event of a rear-end collision, the air bag is ejected from the roof lining above the rear window and spreads like a curtain to protect the heads of the rear passengers, Toyota Motor Corp said in a statement. Toyota said the rear window curtain-shield air bag is the world’s first. The new safety gear will debut in the “iQ” compact four-seater vehicle, to be introduced later this year, Toyota said.
Bratz dolls annoy Mattel
Barbie-maker Mattel Inc filed court papers asking a federal judge to block MGA Entertainment Inc from making or selling Bratz dolls. Attorneys for Mattel filed the papers on Monday in Riverside, California, just over a month after a jury awarded the company US$100 million in damages in the fight over the pouty-lipped dolls. Judge Stephen Larson will hear arguments on the injunction request on Nov. 10.
Boeing deliveries delayed
Boeing Co said yesterday it would reassess its 787 Dreamliner delivery schedule for the Japanese market once an ongoing strike ends, raising concern that a prolonged production halt could further push back deliveries. Japan’s two biggest airlines — Japan Airlines Corp and All Nippon Airways — have already announced expected delays in receiving the 787 jets because of a strike by Boeing machinists that came on top of an 18-month delay in the shipment of the planes. “Frankly, we do not know when the strike will end,” Randy Tinseth, vice president of Boeing’s Commercial Airplanes division, said in Tokyo.
Volvo cuts 1,400 jobs
Volvo, one of the world’s top heavy duty truck makers, said yesterday it would cut 1,400 jobs in Belgium and Sweden because of declining demand for its trucks in Europe. “The company will initiate negotiations with the unions regarding staffing level cutbacks of approximately 1,400 employees at the company’s plant in Ghent in Belgium and Gothenburg and Umeaa in Sweden,” Volvo Trucks said in a statement.
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
CASH BOOST: Foreign spouses with residency permits are also eligible for the coupons, which can be bought at post offices or linked to digital payment options Stimulus coupons for Taiwanese and foreign spouses with residency permits can be ordered starting on July 1 and can be used from July 15 to Dec. 31, the Executive Yuan said yesterday. Aimed at boosting domestic spending, the coupons worth NT$3,000 (US$100.04) are to cost NT$1,000. “For our consumers, this is a very good deal as they get three times as much value for their money,” Premier Su Tseng-chang (蘇貞昌) told a news conference in Taipei. While the coupons are to have a wide range of uses, including at department stores, restaurants, book stores, night markets, beauty and hair salons, hotels, and to
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
RELATIONSHIP ‘TERMINATED’: US Speaker Nancy Pelosi said that the president’s action was ‘an act of extraordinary senselessness,’ a tone Chinese media echoed US President Donald Trump on Friday announced that Washington would withdraw funding from the WHO, end Hong Kong’s special trade status and suspend visas of Chinese graduate students suspected of conducting research on behalf of their government. Trump said in a White House announcement that Chinese officials “ignored” their reporting obligations to the WHO and pressured the organization to mislead the public about the outbreak. “We have detailed the reforms that it must make and engaged with them directly, but they have refused to act,” he said. “Because they have failed to make the requested and greatly needed reforms, we will be