■ Crude oil
Output in Venezuela up
Venezuela's oil output has increased five-fold since the start of the year as additional fields have been activated, striking oil workers said. Output is about 1.08 million barrels, strikers said in a press statement. They estimated output at 190,000 barrels a day on Jan. 1. Venezuela was producing about 3 million barrels a day of oil before the nationwide strike began Dec. 2. Natural gas output was 41 percent of pre-strike levels, strikers said. Oil output has been curtailed since the strike began. Strikers are seeking the ouster of President Hugo Chavez. Petroleos de Venezuela SA President Ali Rodriguez said Friday that production was 1.5 million barrels a day, and will reach 2.5 million barrels a day by mid-March. His forecasts are disputed by oil strikers.
■ Automakers
Nissan pushes Teana cars
Nissan Motor Co, Japan's third-largest automaker, said it plans to sell 100,000 of its new Teana sedans a year worldwide after it releases the model in an effort to lure more customers. The company, 44 percent owned by Renault SA, said it expects to sell about 25,000 units a year in its home market. Nissan starts selling the luxury car in Japan today, priced between Japanese yen 2.25 million (US$18,746) and 3.19 million yen. The automaker will offer it in China and other Asian markets later this year. Nissan, which expects to raise global auto sales by 9.3 percent this business year, is releasing a record 12 new and revamped models globally to spur demand. The world's second-largest automaker by market value expects to report a third straight record annual profit this business year, after posting its largest loss three years ago. The Teana, based on the same platform as the Maxima sedan, will be available with a 2.3-liter or 3.5-liter engine.
■ NTT DoCoMo
Customer spending down
NTT DoCoMo Inc, the world's No. 2 mobile-phone company by sales, said customers spent less on cellular services and it lost market share in the three months ended Dec. 31. Customers of DoCoMo's main cellular services spent an average of Y8,200 (US$68) a month in the quarter, 4 percent less than in the same period a year earlier, the company said in a release at the Tokyo Stock Exchange. DoCoMo said its share of Japan's cellular market, the world's second biggest by value behind the US, slipped to 58.3 percent from 59 percent a year earlier.
■ Platinum
Price surges in Tokyo
Platinum rose in Tokyo to the highest more than 19 years on expectation a US$1.2 billion fuel cell initiative proposed by US President George W. Bush would boost demand for the metal. Platinum for December delivery rose Y80, or 3.4 percent, to 2,437 yen per gram on the Tokyo Commodity Exchange, the highest price since March 20, 1989. "Platinum demand is expected to increase as more of the metal will be used for fuel cells for autos," said Akio Shibata, a commodities analyst at Marubeni Corp. The so-called Freedom Fuel initiative in the US is aimed at reversing "America's growing dependence on foreign oil by developing the technology for commercially viable hydrogen-powered fuel cells to power cars, trucks, homes and businesses with no pollution or greenhouse gases," Bush told the US Congress last week.Agencies
BYPASSING CHINA TARIFFS: In the first five months of this year, Foxconn sent US$4.4bn of iPhones to the US from India, compared with US$3.7bn in the whole of last year Nearly all the iPhones exported by Foxconn Technology Group (富士康科技集團) from India went to the US between March and last month, customs data showed, far above last year’s average of 50 percent and a clear sign of Apple Inc’s efforts to bypass high US tariffs imposed on China. The numbers, being reported by Reuters for the first time, show that Apple has realigned its India exports to almost exclusively serve the US market, when previously the devices were more widely distributed to nations including the Netherlands and the Czech Republic. During March to last month, Foxconn, known as Hon Hai Precision Industry
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and the University of Tokyo (UTokyo) yesterday announced the launch of the TSMC-UTokyo Lab to promote advanced semiconductor research, education and talent development. The lab is TSMC’s first laboratory collaboration with a university outside Taiwan, the company said in a statement. The lab would leverage “the extensive knowledge, experience, and creativity” of both institutions, the company said. It is located in the Asano Section of UTokyo’s Hongo, Tokyo, campus and would be managed by UTokyo faculty, guided by directors from UTokyo and TSMC, the company said. TSMC began working with UTokyo in 2019, resulting in 21 research projects,
Ashton Hall’s morning routine involves dunking his head in iced Saratoga Spring Water. For the company that sells the bottled water — Hall’s brand of choice for drinking, brushing his teeth and submerging himself — that is fantastic news. “We’re so thankful to this incredible fitness influencer called Ashton Hall,” Saratoga owner Primo Brands Corp’s CEO Robbert Rietbroek said on an earnings call after Hall’s morning routine video went viral. “He really helped put our brand on the map.” Primo Brands, which was not affiliated with Hall when he made his video, is among the increasing number of companies benefiting from influencer
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) yesterday expressed a downbeat view about the prospects of humanoid robots, given high manufacturing costs and a lack of target customers. Despite rising demand and high expectations for humanoid robots, high research-and-development costs and uncertain profitability remain major concerns, Lam told reporters following the company’s annual shareholders’ meeting in Taoyuan. “Since it seems a bit unworthy to use such high-cost robots to do household chores, I believe robots designed for specific purposes would be more valuable and present a better business opportunity,” Lam said Instead of investing in humanoid robots, Quanta has opted to invest
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