European stocks advanced as earnings reports from Fiat SpA to Apple Inc reassured investors that the global economic recovery is intact amid signs the region is weathering the sovereign debt crisis.
Fiat rallied as the carmaker reported its first profit in three quarters. Rio Tinto Group led a gauge of basic-resource stocks to the best performance among 19 industry groups in the STOXX Europe 600 Index as Europe＊s manufacturing and services industries unexpectedly grew. SSL International PLC soared 33 percent after Reckitt Benckiser PLC agreed to buy the maker of Durex condoms for ﹟2.54 billion (US$3.9 billion).
The STOXX 600 climbed 3.2 percent to 255.97 this week. The gauge plunged 15 from the this year＊s high on April 15 through the lowest level reached on May 25 amid concern that governments＊ attempts to trim their budget deficits will curb economic growth. The measure has since rallied 10 percent.
※The season has certainly got off to a good start,§ said Piers Hillier, who manages US$12 billion as the chief investment officer of Liverpool Victoria Asset management in London. ※Perhaps unsurprisingly given the macro backdrop, companies have been a little bit more cautious with outlook statements.§
A composite index based on a survey of euro-area services and manufacturing purchasing managers increased to 56.7 this month from 56 last month, Markit Economics said on Thursday. Economists had projected a drop to 55.5, according to a Bloomberg survey. A reading above 50 indicates expansion.
The UK economy grew at the fastest pace in four years in the second quarter as rebounding services, manufacturing and construction ignited the recovery, the Office for National Statistics said on Friday.
Fiat rallied 6.9 percent. 〝Second-quarter net income was 90 million euros (US$116 million), compared with a 168 million-euro loss a year earlier.
Nvidia Corp yesterday unveiled its new high-speed interconnect technology, NVLink Fusion, with Taiwanese application-specific IC (ASIC) designers Alchip Technologies Ltd (世芯) and MediaTek Inc (聯發科) among the first to adopt the technology to help build semi-custom artificial intelligence (AI) infrastructure for hyperscalers. Nvidia has opened its technology to outside users, as hyperscalers and cloud service providers are building their own cost-effective AI chips, or accelerators, used in AI servers by leveraging ASIC firms’ designing capabilities to reduce their dependence on Nvidia. Previously, NVLink technology was only available for Nvidia’s own AI platform. “NVLink Fusion opens Nvidia’s AI platform and rich ecosystem for
WARNING: From Jan. 1 last year to the end of last month, 89 Taiwanese have gone missing or been detained in China, the MAC said, urging people to carefully consider travel to China Lax enforcement had made virtually moot regulations banning civil servants from making unauthorized visits to China, the Control Yuan said yesterday. Several agencies allowed personnel to travel to China after they submitted explanations for the trip written using artificial intelligence or provided no reason at all, the Control Yuan said in a statement, following an investigation headed by Control Yuan member Lin Wen-cheng (林文程). The probe identified 318 civil servants who traveled to China without permission in the past 10 years, but the true number could be close to 1,000, the Control Yuan said. The public employees investigated were not engaged in national
ALL TOGETHER: Only by including Taiwan can the WHA fully exemplify its commitment to ‘One World for Health,’ the representative offices of eight nations in Taiwan said The representative offices in Taiwan of eight nations yesterday issued a joint statement reiterating their support for Taiwan’s meaningful engagement with the WHO and for Taipei’s participation as an observer at the World Health Assembly (WHA). The joint statement came as Taiwan has not received an invitation to this year’s WHA, which started yesterday and runs until Tuesday next week. This year’s meeting of the decisionmaking body of the WHO in Geneva, Switzerland, would be the ninth consecutive year Taiwan has been excluded. The eight offices, which reaffirmed their support for Taiwan, are the British Office Taipei, the Australian Office Taipei, the
DANGEROUS DRIVERS: The proposal follows a fatal incident on Monday involving a 78-year-old driver, which killed three people and injured 12 The Ministry of Transportation and Communications yesterday said it would lower the age for elderly drivers to renew their license from 75 to 70 as part of efforts to address safety issues caused by senior motorists. The new policy was proposed in light of a deadly incident on Monday in New Taipei City’s Sansia District (三峽), in which a 78-year-old motorist surnamed Yu (余) sped through a school zone, killing three people and injuring 12. Last night, another driver sped down a street in Tainan’s Yuching District (玉井), killing one pedestrian and injuring two. The incidents have sparked public discussion over whether seniors
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