■ Food
Study on chickens unveiled
Tyson Foods Inc, the world's largest meat producer, says using gas in killing chickens does not seem to be more humane than electrocuting them. But the company is seeking further study before changing its practice. Tyson recently completed a two-year study on using "controlled atmosphere stunning" to knock chickens out before they are slaughtered. The company now uses "electrical stunning" when preparing to slaughter the birds. Tyson processes 43 million chickens a week. "While our research has concluded controlled atmosphere stunning may be an acceptable alternative, we have not currently found it to be more humane than conventional electrical stunning," Bill Lovette, senior group vice president of Poultry and Prepared Foods for Tyson Foods, said in a statement.
■ Music
Tower Records sold
Tower Records, the 46-year-old music retailer that sought bankruptcy protection in August, was sold to a group led by liquidator Great American Corp for US$134.3 million. Liquidation sales will begin this weekend at Tower's 89 stores in 20 states and all of them will probably close by the end of the year, Tom Pabst, chief administrative officer for Los Angeles-based Great American, said on Friday. Tower's 3,000 employees will lose their jobs, he said. Tower's parent, closely held MTS Inc, sought protection in August after competition from online retailers, Internet downloads and discounters caused same-store sales to slump 9 percent in a year.
■ Oil
Caracas to aid Vietnam
Venezuelan President Hugo Chavez said his country planned to help build an oil refinery in Vietnam and could use funds earned in his government's recent sale of its share in a Texas refinery. Chavez announced the plan on Friday night in a speech as Venezuela signed 13 accords with visiting officials from Vietnam to cooperate in areas from mining to electrical projects. He said Venezuela could use the proceeds from the August sale of its minority share in the Lyondell-Citgo refinery in Texas. The deal was valued at some US$2.1 billion.
■ Finance
Thai banker enters Cabinet
Bank of Thailand Governor Pridiyathorn Devakula said he would take two positions in the nation's new interim Cabinet and be responsible for the government's economic policies. Pridiyathorn yesterday told reporters he would head the economic team, without specifying whether he will run finance, commerce or other ministries. Thailand's economy will grow faster next year than this year as political stability, higher government spending and lower oil prices boost confidence, Pridiyathorn said on Oct. 3.
■ Investment
Indian FDI nearly doubles
India's booming economy drew a record US$2.9 billion in foreign direct investment (FDI) in the first four months of the fiscal year, nearly double last year's amount, a report said yesterday. "FDI inflows in April-July 2006-2007 increased by 92 percent to US$2.9 billion from US$1.5 billion in the same period of the last fiscal year," Commerce Minister Kamal Nath said, according to the Press Trust of India. "India is set to receive US$12 billion this year as against US$8.3 billion in 2005-2006," Nath said in New Delhi. India's economy expanded by 8.9 percent in the first quarter to June after growing by 8.4 percent in the financial year ended March 31.
PROTECTIONISM: China hopes to help domestic chipmakers gain more market share while preparing local tech companies for the possibility of more US sanctions Beijing is stepping up pressure on Chinese companies to buy locally produced artificial intelligence (AI) chips instead of Nvidia Corp products, part of the nation’s effort to expand its semiconductor industry and counter US sanctions. Chinese regulators have been discouraging companies from purchasing Nvidia’s H20 chips, which are used to develop and run AI models, sources familiar with the matter said. The policy has taken the form of guidance rather than an outright ban, as Beijing wants to avoid handicapping its own AI start-ups and escalating tensions with the US, said the sources, who asked not to be identified because the
Taipei is today suspending its US$2.5 trillion stock market as Super Typhoon Krathon approaches Taiwan with strong winds and heavy rain. The nation is not conducting securities, currency or fixed-income trading, statements from its stock and currency exchanges said. Yesterday, schools and offices were closed in several cities and counties in southern and eastern Taiwan, including in the key industrial port city of Kaohsiung. Taiwan, which started canceling flights, ship sailings and some train services earlier this week, has wind and rain advisories in place for much of the island. It regularly experiences typhoons, and in July shut offices and schools as
Her white-gloved, waistcoated uniform impeccable, 22-year-old Hazuki Okuno boards a bullet train replica to rehearse the strict protocols behind the smooth operation of a Japanese institution turning 60 Tuesday. High-speed Shinkansen trains began running between Tokyo and Osaka on Oct. 1, 1964, heralding a new era for rail travel as Japan grew into an economic superpower after World War II. The service remains integral to the nation’s economy and way of life — so keeping it dazzlingly clean, punctual and accident-free is a serious job. At a 10-story, state-of-the-art staff training center, Okuno shouted from the window and signaled to imaginary colleagues, keeping
Arm Holdings PLC approached Intel Corp about potentially buying the ailing chipmaker’s product division, only to be told that the business is not for sale, according to a source with direct knowledge of the matter. In the high-level inquiry, Arm did not express interest in Intel’s manufacturing operations, said the source, who asked not to be identified because the discussions were private. Intel has two main units: A product group that sells chips for personal computers, servers and networking equipment, and another that operates its factories. Representatives for Arm and Intel declined to comment. Intel, once the world’s largest chipmaker, has become the
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