AUTOMOBILES
Nissan recalls vehicles
Nissan said yesterday it is recalling 2.14 million vehicles in the US, Japan, Europe and Asia, including the popular March and Mycra subcompacts, for an ignition problem that may stall the engine. No accidents have been reported that are suspected of being related to the defect, according to Yokohama-based Nissan Motor Co. A problem was found in an ignition-system part called the relay for vehicles produced from 2003 through 2006, including small cars like the March, Cube and Note, and about a dozen other models, such as the -Tiida sedan, Titan pickup and Infiniti QX56 luxury model.
SOUTH KOREA
Exports help double surplus
The nation’s current account surplus almost doubled last month compared to August on robust exports of ships and other key products, the central bank said yesterday. The surplus was US$4.06 billion last month compared to a revised US$2.19 billion the previous month. The figure was widely expected to bolster the won, which has risen steadily against the dollar this year despite repeated government intervention on the currency markets. In the January--September period, the surplus totaled US$23.73 billion, surpassing the central bank’s full-year target.
CHEMICALS
Bayer misses forecasts
German chemical company Bayer, maker of aspirin, said yesterday that its third--quarter net profit gained 12.4 percent to 280 million euros (US$386 million), well below analyst expectations. Bayer said it had taken 436 million euros in provisions for US court cases, including 386 million euros to settle legal action involving its Crop Science division in connection with genetically modified rice. Meanwhile, Bayer’s sales gained 16.1 percent to 8.58 billion euros in the three-month period, while core earnings before special items gained 10.5 percent to 1.66 billion euros.
CHEMICALS
Profits quintuple at BASF
German chemical group BASF said yesterday that strong demand worldwide pushed its third quarter net profit five times higher than in the same period a year earlier to 1.25 billion euros. The results confirmed a preliminary release last week, when BASF said sales had jumped by 23 percent to 15.8 billion euros amid a rebound in global economic activity. Sales in almost all of the group’s sectors increased in the third quarter, with the exception of agricultural solutions, it said.
ELECTRONICS
LG Q3 profit plunges 99%
LG Electronics said yesterday third-quarter net profit plunged 99 percent year-on-year, because of growing losses in its handset business and weak US and European demand for consumer electronics. The South Korean company, the world’s third-largest handset maker after Nokia and Samsung Electronics, posted a net profit of 7.57 billion won (US$6.7 million) in the July-to-September period, from 911.3 billion won a year earlier. It incurred an operating loss of 185.18 billion won compared to an 851 billion won profit a year earlier.
ELECTRONICS
NEC back in black
Japanese electronics maker NEC Corp said yesterday it returned to the black in the latest quarter after cutting costs and slashing its stake in a money-losing chip business. Net profit for the July-to-September quarter was ￥16.1 billion (US$200 million), reversing from a net loss of ￥9.8 billion a year earlier.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
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