■ Insurance
Data-loss policy launched
Hitachi Ltd and Sompo Japan Insurance Inc developed an insurance policy for companies wanting to shield themselves from damages due to losses of personal data, the Nihon Keizai newspaper reported. Hitachi and Sompo Japan will offer a package, which includes the costs of press meetings to announce details, restoring lost data, repairing damage caused by viruses and compensation paid to individuals and companies, the paper said without saying where it obtained the information. The companies aim to sign contracts with more than 100 companies in the next 12 months, the paper said. They will announce the new package on Tuesday, the paper said. Schemes to steal personal information have become more frequent and sophisticated, prompting Japanese companies to look for ways to improve protection of customers.
■ Media
News Corp forms Web unit
News Corp, the media conglomerate controlled by Rupert Murdoch, is launching a new unit grouping together the Internet properties owned by its Fox entertainment, news and sports businesses. The new unit, to be called Fox Interactive Media, will be headed by Ross Levinsohn, formerly chief of Fox's online sports business. In addition to sports, the group will also oversee the online operations of the Fox television network, cable TV's Fox News Channel and the Web sites of Fox's local TV stations. The division will coordinate back-office functions such as advertising sales across the Web sites, and also make it easier for browsers to move from one Fox-owned site to another, personalize what they see and get access to a greater variety of content such as video.
■ Appliances
Maytag sets merger vote
Maytag Corp, the US appliance maker that's the subject of a bidding contest, said it expects a potential second bidder to complete its due diligence by July 22. China's Haier Group (海爾) and two buyout firms made a preliminary offer last month to buy the third-largest US appliance maker for US$1.28 billion, or US$16 a share, about a month after a group led by Ripplewood Holdings LLC offered US$1.12 billion, US$2 more per share. The Haier group said it needed to examine Maytag more closely before making a final offer. Maytag shareholders are scheduled to vote on the Ripplewood offer Aug. 19.
■ Energy industry
Enron to pay for gouging
Bankrupt energy company Enron Corp has agreed to pay US$47.5 million in cash in a settlement that could eventually top US$1.5 billion to resolve claims that it gouged California and other western states during the 2000-2001 energy crisis. The settlement will end claims of market manipulation and price gouging against the once high-flying Houston-based company, California Attorney-General Bill Lockyer said on Friday. The agreement requires approval by the bankruptcy court and the Federal Energy Regulatory Commission. In addition to the cash payment, Enron will provide California with an unsecured claim for US$875 million in the energy company's bankruptcy proceedings. Oregon and Washington would be entitled to US$22.5 million each from that unsecured settlement. The settlement also calls for the company to pay a US$600 million penalty to the three states. The deal will allow California to "squeeze justice from this corporate turnip," Lockyer said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Gudeng Precision Industrial Co (家登精密), the sole extreme ultraviolet pod supplier to Taiwan Semiconductor Manufacturing Co (台積電), yesterday said it has trimmed its revenue growth target for this year as US tariffs are likely to depress customer demand and weigh on the whole supply chain. Gudeng’s remarks came after the US on Monday notified 14 countries, including Japan and South Korea, of new tariff rates that are set to take effect on Aug. 1. Taiwan is still negotiating for a rate lower than the 32 percent “reciprocal” tariffs announced by the US in April, which it later postponed to today. The
MAJOR CONTRIBUTOR: Revenue from AI servers made up more than 50 percent of Wistron’s total server revenue in the second quarter, the company said Wistron Corp (緯創) on Tuesday reported a 135.6 percent year-on-year surge in revenue for last month, driven by strong demand for artificial intelligence (AI) servers, with the momentum expected to extend into the third quarter. Revenue last month reached NT$209.18 billion (US$7.2 billion), a record high for June, bringing second-quarter revenue to NT$551.29 billion, a 129.47 percent annual increase, the company said. Revenue in the first half of the year totaled NT$897.77 billion, up 87.36 percent from a year earlier and also a record high for the period, it said. The company remains cautiously optimistic about AI server shipments in the third quarter,
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
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