A calligrapher is suing the company that publishes The Wall Street Journal over its use of one of his Chinese characters as its corporate logo in China. \nGuan Dongsheng drew the character at the request of Dow Jones & Co employees as part of a gift to the company's chairman in 1994. But Guan, a university professor, says he retains the rights to use the character and is asking for 5 million yuan (US$600,000) and an admission of wrongdoing, his lawyer said Thursday. \nDow Jones said in a statement that it had tried to settle the dispute over use of Guan's character "dao," which sounds like Dow. \nA one-day trial was held Wed-nesday in the Beijing No. 1 People's Court but no verdict was immediately announced, said Guan's lawyer, Tang Zhaozhi. \nTang said Guan had rejected a settlement offer of US$40,000. \n"The purpose of the lawsuit is not really for the compensation," Tang said. "The lawsuit was filed because Dow Jones used Mr. Guan's calligraphy without his permission." \nGuan's character is used by Dow Jones on its Web site, advertising and business cards in China. According to state media, Dow Jones has said Guan gave permission to use the character as its logo. \nHe drew it as part of a Chinese saying presented to company chairman Peter Kann during a visit to Beijing -- "All gentlemen love wealth, but only if gotten through noble ways." The "dao" character in that sentence means "noble way." \n"We have always sought an early resolution of this matter with Mr. Guan Dongsheng regarding the use of his `dao' calligraphy in our corporate identity,'' the Dow Jones statement said.
POOR INTERNAL CONTROLS: Insurance Bureau Director-General Shih Chiung-hwa said the company is expected to get back on track while its chairman is suspended The Financial Supervisory Commission (FSC) yesterday fined Shin Kong Life Insurance Co (新光人壽) NT$27.6 million (US$939,415) for a reckless investment that endangered its solvency, and suspended its chairman Eugene Wu (吳東進) for poor supervision. The penalty is the second-highest in a single case after Nan Shan Life Insurance Co (南山人壽) was fined NT$30 million in September last year and its chairman Du Ying-tzyong (杜英宗) suspended for two years, the commission said. In three rounds of special and regular examinations conducted since last year, the commission found that Shin Kong Life had given too much power to an asset and liability management committee
HEAVY INVESTMENT: Moody’s affirmed the firm’s ‘Aa3’ rating with a ‘stable’ outlook due to its leading position in the industry and ability to match customer requirements Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue this year is expected to increase about 21 percent to NT$1.29 trillion (US$44.01 billion) from NT$1.07 trillion last year, driven by strong demand for advanced 5-nanometer and 7-nanometer chips mainly used in smartphones and high-performance computing devices, a Moody’s Investors Service report on Wednesday said. TSMC’s rate of revenue growth next year is to increase to 7.5 percent, the ratings agency said. The company, which supplies 5-nanometer chips for Apple Inc’s new iPad series, has introduced the advanced chips ahead of its competitors and gained a significant share of the market for the foundry industry’s
Sony Corp has cut its estimated Play Station 5 (PS5) production for this fiscal year by 4 million units, down to about 11 million, following production issues with its custom-designed system-on-chip (SOC) for the new console, people familiar with the matter said. The Tokyo-based electronics giant in July boosted orders with suppliers in anticipation of heightened demand for gaming in the holiday season and beyond, as people spend more time at home due to the COVID-19 pandemic. However, the company has come up against manufacturing issues, such as production yields as low as 50 percent for its SOC, which have cut into
O2O BICYCLE SHOW: The Taiwan Bicycle Show next year is to be online to offline, with forums, audio-visual conferences and livestreaming of the offline events Local bicycle makers expect demand to continue outpacing supply due to orders triggered by the COVID-19 pandemic, with some companies seeing orders back up through next year. “Next year is all full in terms of orders. Our lead time on components is one year,” Giant Manufacturing Co Ltd (巨大機械) chairwoman Bonnie Tu (杜綉珍) told a news conference in Taipei organized by the Taiwan External Trade Development Council (TAITRA) to announce next year’s Taipei Cycle Show. The pandemic has reduced bicycle supplies and increased demand around the world, Robert Wu (吳盈進), chairman of KMC (Kuei Meng) International Inc (桂盟國際), one of the world’s