MACROECONOMICS
Vietnamese inflation slows
Vietnamese inflation slowed to its weakest pace in eight months this month, official data showed yesterday, in the latest sign that the economy is cooling. Consumer prices rose 6.36 percent year-on-year this month, the Government Statistics Office said, slightly down from a 6.61 percent increase last month. Hanoi cut interest rates this month for the eighth time in little more than a year to boost its economy, which fell to a 13-year low of 5.03 percent last year.
MANUFACTURING
French business looking up
French manufacturers turned sharply brighter about their business prospects this month because activity was unexpectedly buoyant and orders were picking up, the latest figures from the national statistics institute INSEE showed yesterday. The index of manufacturing confidence rose by 4 points to 92 points this month from 88 points last month, INSEE figures showed. This took the level of confidence back up to the level of February, but fell short of 100 points, which has been the average since 1976.
TECHNOLOGY
ITC clears Xbox 360
The US International Trade Commission (ITC) sided with Microsoft on Thursday in a patent dispute with Google-owned Motorola Mobility that could have barred the imports of Xbox 360 videogame consoles. “The investigation is terminated,” the ITC said in a notice announcing it was rejecting a Motorola Mobility patent complaint dating back to late 2010. Motorola Mobility had argued that Xbox 360 consoles infringed on patent technology for wirelessly transmitting data.
AVIATION
Boeing 787 to fly in China
Chinese regulators have approved the Boeing 787 to fly in the country, a Boeing spokesman said on Thursday, a move that opens up a large potential market to the US aerospace giant. Chinese airlines have yet to take delivery of the 787 Dreamliner, which last month was cleared to return to service after all 50 in use worldwide were grounded in the middle of January following two overheated battery incidents. Air China (中國國際航空) has ordered 15 of the planes, while China Southern Airlines (中國南方航空) and Hainan Airlines (海南航空) have each ordered 10 planes.
AUSTRALIA
Economy sound: Gillard
Australian Prime Minister Julia Gillard yesterday moved to allay fears about the economy, saying it had strong fundamentals, after US carmaker Ford said on Thursday it would stop making vehicles at its unprofitable Australian plants in 2016 and cut 1,200 jobs. Gillard told reporters the Australian economy was in transition as the investment boom in the mining and resources sector wound down, and there would be a loss of jobs as a result.
INTERNET
Yahoo buys PlayerScale
Yahoo pressed on with its shopping spree on Thursday with the acquisition of a startup that powers games played on smartphones, tablets, consoles or PCs. Yahoo confirmed in a statement on Thursday it has bought PlayerScale. Financial terms of the deal were not disclosed. The PlayerScale platform works behind the scenes to handle payments, multi-person play, online chat and other features woven into games played on a broad range of devices.
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
FALLING BEHIND: Samsung shares have declined more than 20 percent this year, as the world’s largest chipmaker struggles in key markets and plays catch-up to rival SK Hynix Samsung Electronics Co is laying off workers in Southeast Asia, Australia and New Zealand as part of a plan to reduce its global headcount by thousands of jobs, sources familiar with the situation said. The layoffs could affect about 10 percent of its workforces in those markets, although the numbers for each subsidiary might vary, said one of the sources, who asked not to be named because the matter is private. Job cuts are planned for other overseas subsidiaries and could reach 10 percent in certain markets, the source said. The South Korean company has about 147,000 in staff overseas, more than half
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
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