■COMPUTERS
HP’s purchase of 3Com OK’d
The European Commission on Friday cleared the purchase by US computer giant Hewlett-Packard (HP) of networking company 3Com for US$2.7 billion, saying it would not harm competition in Europe. “The commission concluded that the concentration would be unlikely to raise competition concerns,” the EU’s competition watchdog said in a statement. “The commission’s investigation confirmed that the merged company would continue to face a number of global and effective competitors giving customers the choice from a range of alternative providers.”
■AVIATION
AA, JAL seek immunity
American Airlines (AA) and Japan Airlines (JAL) on Friday asked US authorities for antitrust immunity to boost flights between North America and Asia, the airlines said in a statement. AA and JAL, which is now in a government-structured bankruptcy restructuring, said they had asked the US Department of Transportation for antitrust immunity so they could “forge a closer relationship.” The move would allow them to implement a joint business agreement governing the operation of their flights between North America and Asia, they said.
■FINANCE
IMF signs borrowing pacts
The IMF said on Friday that it had signed agreements to borrow a total of US$7.2 billion from three eurozone members — Belgium, Slovakia and Malta. The agreements are part of the EU’s pledge last March, as the global economic crisis raged, to boost IMF lending capacity, the fund said in a statement. The EU initially had promised to lend up to 75 billion euros, at the time equal to about US$100 billion, then later expanded it by 50 billion euros, the IMF said.
■AUTOMOBILES
EIB approves loan to Saab
The European Investment Bank (EIB) approved a 400 million euro (US$542.88 million) loan on Friday to car maker Saab Automobile AB, clearing the way for Spyker Cars of the Netherlands to buy the brand from General Motors Co. Sweden offered to guarantee the loan on the condition that Saab uses it to develop environmentally friendly cars. The guarantee was approved by the European Commission last week.
■BANKING
Japanese banks can’t agree
Mid-sized Japanese lenders Shinsei Bank and Aozora Bank are likely to scrap plans to merge by October because of differences over business strategy, the Nikkei Shimbun said yesterday. Shinsei and Aozora, which have been hit hard by the global financial crisis, announced in July a planned merger of equals that would create Japan’s sixth-biggest commercial bank. But the negotiations eventually ground to a halt, with Shinsei seeking to expand its retail operations while Aozora is more keen on working with regional banks.
■LOVE
Special security for lovers
A British airport is entering into the Valentine’s spirit by offering private pre-flight searches for those planning to surprise their partners on holiday with an engagement ring. Manchester, which earlier this month became one of two UK airports to introduce body scanners, said that in previous years marriage proposals had risked being ruined when security staff revealed hidden engagement rings during searches. Passengers traveling through Monday can whisper “Be my Valentine” to security staff to take advantage of a private search behind a screen, the airport said.
It was late morning and steam was rising from water tanks atop the colorful, but opaque-windowed, “soapland” sex parlors in a historic Tokyo red-light district. Walking through the narrow streets, camera in hand, was Beniko — a former sex worker who is trying to capture the spirit of the area once known as Yoshiwara through photography. “People often talk about this neighborhood having a ‘bad history,’” said Beniko, who goes by her nickname. “But the truth is that through the years people have lived here, made a life here, sometimes struggled to survive. I want to share that reality.” In its mid-17th to
State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday signed a letter of intent with Alaska Gasline Development Corp (AGDC), expressing an interest to buy liquefied natural gas (LNG) and invest in the latter’s Alaska LNG project, the Ministry of Economic Affairs said in a statement. Under the agreement, CPC is to participate in the project’s upstream gas investment to secure stable energy resources for Taiwan, the ministry said. The Alaska LNG project is jointly promoted by AGDC and major developer Glenfarne Group LLC, as Alaska plans to export up to 20 million tonnes of LNG annually from 2031. It involves constructing an 1,290km
‘MAKE OR BREAK’: Nvidia shares remain down more than 9 percent, but investors are hoping CEO Jensen Huang’s speech can stave off fears that the sales boom is peaking Shares in Nvidia Corp’s Taiwanese suppliers mostly closed higher yesterday on hopes that the US artificial intelligence (AI) chip designer would showcase next-generation technologies at its annual AI conference slated to open later in the day. The GPU Technology Conference (GTC) in California is to feature developers, engineers, researchers, inventors and information technology professionals, and would focus on AI, computer graphics, data science, machine learning and autonomous machines. The event comes at a make-or-break moment for the firm, as it heads into the next few quarters, with Nvidia CEO Jensen Huang’s (黃仁勳) keynote speech today seen as having the ability to
NEXT GENERATION: The company also showcased automated machines, including a nursing robot called Nurabot, which is to enter service at a Taichung hospital this year Hon Hai Precision Industry Co (鴻海精密) expects server revenue to exceed its iPhone revenue within two years, with the possibility of achieving this goal as early as this year, chairman Young Liu (劉揚偉) said on Tuesday at Nvidia Corp’s annual technology conference in San Jose, California. AI would be the primary focus this year for the company, also known as Foxconn Technology Group (富士康科技集團), as rapidly advancing AI applications are driving up demand for AI servers, Liu said. The production and shipment of Nvidia’s GB200 chips and the anticipated launch of GB300 chips in the second half of the year would propel
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