■ AUTOMOBILES
GM's former CEO dies
Roger Smith, who led General Motors Corp (GM) in the 1980s and was the subject of Michael Moore's searing documentary Roger & Me, has died, the automaker said on Friday. He was 82. Smith died on Thursday in the Detroit area after a brief illness that GM did not identify. He was appointed chairman and CEO on Jan. 1, 1981, and led the world's largest automaker until his retirement on July 31, 1990. With Japanese automakers gaining momentum in the US as Smith's tenure began, he responded with GM's first front-wheel-drive midsize cars and formed a controversial joint venture with Toyota Motor Corp to manufacture cars in California. "[Smith] was a leader who knew that we have to accept change, understand change and learn to make it work for us," current GM CEO Rick Wagoner said in a statement.
■ AEROSPACE
Le Gall warns on dumping
The head of the European satellite launch group Arianespace, Jean-Yves Le Gall, warned the US on Friday against Chinese "dumping" in the market and suggested Washington should improve its ovesight. "Today, we see China has re-entered the market for commercial launches, using so-called `ITAR-Free' satellites designed and built without US technology," Le Gall told a space industry luncheon in Washington. "Coupled with cut-rate launch prices, China is working to flood the market with such satellites and I really think Europe and the US must rise together to address these issues which are very, very important," he said.
■ CHINA
Manufacturing expands
Manufacturing expanded at a faster pace last month, a government survey of purchasing managers released yesterday showed. The purchasing managers' index (PMI) rose to 55.4 from 53.2 in October, the statistics bureau said in an e-mailed statement. A reading above 50 indicates expansion. Of 20 industries surveyed, 19 of them, including clothing producers, transportation equipment manufacturers and energy processors, recorded a PMI of more than 50,the report said. The accelerating PMI reflected "China's rising investment in recent months," a researcher at the State Council Development and Research Center in Beijing said.
■ PHARMACEUTICAL
FDA clears antidepressant
The US Food and Drug Administration has approved long-term use of the antidepressant Cymbalta to help patients avoid a relapse into depression, Eli Lilly and Co said on Friday. Cymbalta, one of Lilly's biggest-selling drugs, was first approved by the Food and Drug Administration in 2004 to treat serious depression. The new FDA approval supports its use for "maintenance treatment" in adults. Lilly reported that Cymbalta had sales of US$1.3 billion last year, making it the company's fastest-growing drug.
■ COMPUTERS
Investors dump Dell stock
Shares of Dell Inc fell nearly 13 percent on Friday as investors took a pessimistic view on plans to re-ignite the computer maker's fortunes with a strategy that could lower profits in the short term. In Dell's first earnings conference call in more than a year, chief financial officer Don Carty told analysts that restructuring costs would cut into profits as the company seeks more acquisitions and layoffs and that a slower decline in component costs could also have an impact on its bottom line.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors