■ Semiconductors
UMC to stash He Jian stake
United Microelectronics Corp (UMC, 聯電), the world's second-biggest supplier of made-to-order chips, said on Friday a 15-percent stake given by a Chinese chipmaker would be put into a trust. In a filing to the Taiwan Stock Exchange, UMC said He Jian Technology (Suzhou) Co (和艦科技) noticed the company on Friday that it has put the 15-percent stake in exchange for UMC's assistance into a trust. To help protect the interest of shareholders, UMC said it is "looking for government agencies' administrative direct" in regarding the trust offer. But the Ministry of Economic Affairs said if UMC eventually hopes to include the stake worth of US$1.1 billion in its books, the company still violated the government's regulation as its investment in He Jian did not gain prior government approval.
■ Investment
Millions invested in Thailand
Taiwan businesses funded 35 investment projects with a total value of 7.8 billion baht (US$206.35 million) in Thailand's electronics industry in the first half of this year, according to tallies released yesterday by Thailand's Board of Investment. The investment amount was the fifth-highest after Japan, the US, Singapore and Hong Kong, while the number of projects was the third-highest after Japan and Singapore. Board officials attributed the increased Taiwanese investment to delegations organized by the Taiwan Electrical and Electronic Manufacturer's Association (電電公會) and the Taiwan External Trade Development Council (外貿協會) to Thailand.
■ Internet
Google inks AP tie-up
Google, which has been locked in copyright disputes with several content providers, has struck a deal to buy news stories and photographs from the US agency Associated Press. The AP said Google had agreed to pay for its text and photos, but neither company would disclose terms of the business relationship. In a statement received on Friday, the AP said the Google deal was the latest of a series of agreements with online operations "for use of selected portions of our content."
■ Automobiles
Toyota settles suit
Toyota Motor Corp, the world's second-largest automaker, reached a settlement with an employee who had accused its former North American chief executive officer of sexual harassment. Terms of the agreement with Sayaka Kobayashi, 42, who was an assistant to CEO Hideaki Otaka, aren't being disclosed, Steve Curtis, a New York-based Toyota spokesman, said on Friday. Kobayashi previously sought damages of as much as US$210 million from New York-based Toyota Motor North America and the parent company in Japan.
■ Retail
Japanese firm eyes Giordano
Giordano International Ltd, a Hong Kong-based retailer that operates 1,422 clothing stores in Asia, said its Japanese rival Fast Retailing Co has expressed interest in the company. Tokyo-listed Fast Retailing, Asia's largest clothing retailer, hasn't made an offer and hasn't indicated any firm intention to make an offer, Giordano said in a statement yesterday. Trading in the shares of the company, suspended on Friday, will resume tomorrow. Fast Retailing, owner of Japan's Uniqlo discount clothing stores, is seeking to strengthen its international presence.
Zhang Yazhou was sitting in the passenger seat of her Tesla Model 3 when she said she heard her father’s panicked voice: The brakes do not work. Approaching a red light, her father swerved around two cars before plowing into a sport utility vehicle and a sedan, and crashing into a large concrete barrier. Stunned, Zhang gazed at the deflating airbag in front of her. She could never have imagined what was to come: Tesla Inc sued her for defamation for complaining publicly about the vehicles brakes — and won. A Chinese court ordered Zhang to pay more than US$23,000 in
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday held its first board of directors meeting in the US, at which it did not unveil any new US investments despite mounting tariff threats from US President Donald Trump. Trump has threatened to impose 100 percent tariffs on Taiwan-made chips, prompting market speculation that TSMC might consider boosting its chip capacity in the US or ramping up production of advanced chips such as those using a 2-nanometer technology process at its Arizona fabs ahead of schedule. Speculation also swirled that the chipmaker might consider building its own advanced packaging capacity in the US as part
‘NO DISRUPTION’: A US trade association said that it was ready to work with the US administration to streamline the program’s requirements and achieve shared goals The White House is seeking to renegotiate US CHIPS and Science Act awards and has signaled delays to some upcoming semiconductor disbursements, two sources familiar with the matter told reporters. The people, along with a third source, said that the new US administration is reviewing the projects awarded under the 2022 law, meant to boost US domestic semiconductor output with US$39 billion in subsidies. Washington plans to renegotiate some of the deals after assessing and changing current requirements, the sources said. The extent of the possible changes and how they would affect agreements already finalized was not immediately clear. It was not known
A move by US President Donald Trump to slap a 25 percent tariff on all steel imports is expected to place Taiwan-made steel, which already has a 25 percent tariff, on an equal footing, the Taiwan Steel & Iron Industries Association said yesterday. Speaking with CNA, association chairman Hwang Chien-chih (黃建智) said such an equal footing is expected to boost Taiwan’s competitive edge against other countries in the US market, describing the tariffs as "positive" for Taiwanese steel exporters. On Monday, Trump signed two executive orders imposing the new metal tariffs on imported steel and aluminum with no exceptions and exemptions, effective