■SOFTWARE
Sony fixes PS3 bug
Japanese electronics giant Sony assured millions of users on Monday a system bug that had been halting play on older versions of the PlayStation 3 was “resolved.” Sony “verified that the symptoms are now resolved and that users are able to use their PS3 normally,” spokesman Patrick Seybold said on the PlayStation blog. Sony earlier indicated that the problem, which has left many PS3 owners unable to connect to the Internet for more than a day and some unable to even play games, was only affecting models released before last year’s PS3 Slim. “We are aware that the internal clock functionality in the PS3 units other than the slim model, recognized the year 2010 as a leap year,” Seybold said. “If the time displayed on the XMB is still incorrect, users are able to adjust time settings manually or via the Internet.”
■MANUFACTURING
Cookson forecasts rebound
British industrial materials firm Cookson said it expected its performance to recover significantly this year after reporting a slump in last year’s profits caused by the sharp drop in worldwide steel demand. The company, which supplies ceramics products to the steel, glass and solar industries, saw pretax profit drop 57 percent to £75.7 million (US$112.9 million). Analysts were expecting the firm to report profit of about £68.8 million for the year, data from Thomsonreuters I/B/E/S show. “The improvement in steel production and electronics end-markets experienced in the second half of 2009 has continued so far into 2010,” the firm said in a statement yesterday. “Performance should continue to recover significantly as end-markets improve.”
■PHARMACEUTICALS
OSI rejects Astellas’ bid
US drug maker OSI Pharmaceuticals on Monday rejected a US$3.5 billion takeover bid from Japan’s Astellas, describing the offer as undervalued. A formal offer of US$52 per share was expected to be made to OSI shareholders yesterday, but OSI issued a statement on Monday saying the Astellas proposal “very significantly undervalues the company.” The Tokyo-based firm, which manufactures pharmaceuticals, defended the cash offer as a 53 percent premium on OSI’s average three-month stock price. Astellas said the rejection from OSI’s board was “the latest indication ... that OSI is not interested in engaging in substantive discussions.” The Japanese firm said the acquisition would propel it to become a global leader in oncology. OSI, which focuses on molecular-targeted therapies, saw its share price soar on news of the hostile takeover, finishing the day up 51.94 percent at US$56.25 a share. RBC Capital Market analyst Jason Kantor recommended OSI shareholders sell shares at US$55 to US$56 each, and added that the Astellas offer could spark a rival bid from Roche.
■ARGENTINA
Reserves used to pay debt
Argentina withdrew US$6.5 billion from its central bank reserves on Monday to pay some of its foreign debt, as President Cristina Kirchner circumvented court orders and defied fierce opposition from some lawmakers. A central bank spokesman said the funds had been transferred to two accounts of the government treasury “following the decrees of the president.” Kirchner had signed two new decrees to draw from the reserves, getting around a court order earlier this year blocking the effort. She is tapping in to foreign currency reserves to pay off a hefty chunk of the debt due this year to international lenders and holders of bonds on which the country defaulted in 2001.
The government is aiming to recruit 1,096 foreign English teachers and teaching assistants this year, the Ministry of Education said yesterday. The foreign teachers would work closely with elementary and junior-high instructors to create and teach courses, ministry official Tsai Yi-ching (蔡宜靜) said. Together, they would create an immersive language environment, helping to motivate students while enhancing the skills of local teachers, she said. The ministry has since 2021 been recruiting foreign teachers through the Taiwan Foreign English Teacher Program, which offers placement, salary, housing and other benefits to eligible foreign teachers. Two centers serving northern and southern Taiwan assist in recruiting and training
WIDE NET: Health officials said they are considering all possibilities, such as bongkrekic acid, while the city mayor said they have not ruled out the possibility of a malicious act of poisoning Two people who dined at a restaurant in Taipei’s Far Eastern Department Store Xinyi A13 last week have died, while four are in intensive care, the Taipei Department of Health said yesterday. All of the outlets of Malaysian vegetarian restaurant franchise Polam Kopitiam have been ordered to close pending an investigation after 11 people became ill due to suspected food poisoning, city officials told a news conference in Taipei. The first fatality, a 39-year-old man who ate at the restaurant on Friday last week, died of kidney failure two days later at the city’s Mackay Memorial Hospital. A 66-year-old man who dined
EYE ON STRAIT: The US spending bill ‘doubles security cooperation funding for Taiwan,’ while also seeking to counter the influence of China US President Joe Biden on Saturday signed into law a US$1.2 trillion spending package that includes US$300 million in foreign military financing to Taiwan, as well as funding for Taipei-Washington cooperative projects. The US Congress early on Saturday overwhelmingly passed the Further Consolidated Appropriations Act 2024 to avoid a partial shutdown and fund the government through September for a fiscal year that began six months ago. Under the package, the Defense Appropriations Act would provide a US$27 billion increase from the previous fiscal year to fund “critical national defense efforts, including countering the PRC [People’s Republic of China],” according to a summary
‘CARRIER KILLERS’: The Tuo Chiang-class corvettes’ stealth capability means they have a radar cross-section as small as the size of a fishing boat, an analyst said President Tsai Ing-wen (蔡英文) yesterday presided over a ceremony at Yilan County’s Suao Harbor (蘇澳港), where the navy took delivery of two indigenous Tuo Chiang-class corvettes. The corvettes, An Chiang (安江) and Wan Chiang (萬江), along with the introduction of the coast guard’s third and fourth 4,000-tonne cutters earlier this month, are a testament to Taiwan’s shipbuilding capability and signify the nation’s resolve to defend democracy and freedom, Tsai said. The vessels are also the last two of six Tuo Chiang-class corvettes ordered from Lungteh Shipbuilding Co (龍德造船) by the navy, Tsai said. The first Tuo Chiang-class vessel delivered was Ta Chiang (塔江)