TECHNOLOGY
Apple to investigate death
Apple Inc said it would “fully investigate and cooperate with authorities” after media reports that a woman in China died after using an iPhone that was being recharged. A 23-year-old flight attendant died on Friday after picking up her iPhone 5 to answer a call, Xinhua news agency reported, citing Internet reports. Xinhua cited a post by a user of a microblogging service saying that the family “didn’t ask for compensation from Apple, and that it only hopes people will pay attention, nothing more.” The phone, which was bought in December last year, had already been handed over to police, Xinhua reported. “We are deeply saddened to learn of this tragic incident and offer our condolences to the Ma family,” Apple said in the e-mailed statement yesterday.
AUTOMAKERS
Nissan relaunches Datsun
Nissan has launched a new Datsun model in India three decades after shelving the brand that helped win Western acceptance of Japanese autos. The company hopes bringing back the brand that built its US business will fuel growth in emerging markets with a new generation of car buyers. The reimagined Datsun — a five-seat hatchback — will go on sale next year for under 400,000 rupees (about US$6,700). It is designed to appeal to aspirational middle-class strivers, or as its English-language Web site describes the car: the “badge of the risers.” However, the Datsun will be entering the market at a tough time. Sales of passenger cars fell 10 percent in the second quarter due to an economic slowdown and high interest rates that make car loans less affordable.
MACROECONOMICS
Singapore home sales up
Singapore’s home sales last month rose for a second month to the highest since a March record, as Moody’s Investors Service cut its outlook for the city-state’s banking system on concern that borrowing costs may climb. Home sales rose 24 percent to 1,806 units last month from a revised 1,459 units in May, the Urban Redevelopment Authority said on its Web site yesterday, the highest since 2,793 units in March. Moody’s said the rapid loan growth and rising property prices in the city-state add more risk to credit quality.
SOUTH KOREA
BOK picks female deputy
The Bank of Korea (BOK) promoted Suh Young-kyung to become the first female deputy governor in the central bank’s 63-year history as Governor Kim Choong Soo pushes diversity in a male-dominated institution. Suh, 50, currently director for financial markets, will be responsible for research and economic statistics, the central bank said in an e-mailed statement in Seoul yesterday. President Park Geun-hye’s rise to become the nation’s first female head of state in February underscored the potential for more women to take key policymaking roles. While Suh becomes one of five deputy governors, she will not be a member of the committee which sets interest rates.
RECRUITMENT
UK’s SThree restructuring
British recruitment company SThree PLC said it would restructure its property portfolio to reduce costs by about ￡8 million (US$12.09 million) per year. The company said the restructuring, which would also include support functions, was expected to help save ￡3 million in the second half of the year and reduce its annualized cost base by ￡8 million per year. Gross profit fell to ￡94 million pounds for the six months ended May 26, from ￡99.9 million a year earlier.
Hon Hai Precision Industry Co (鴻海精密) yesterday said that its research institute has launched its first advanced artificial intelligence (AI) large language model (LLM) using traditional Chinese, with technology assistance from Nvidia Corp. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), said the LLM, FoxBrain, is expected to improve its data analysis capabilities for smart manufacturing, and electric vehicle and smart city development. An LLM is a type of AI trained on vast amounts of text data and uses deep learning techniques, particularly neural networks, to process and generate language. They are essential for building and improving AI-powered servers. Nvidia provided assistance
DOMESTIC SUPPLY: The probe comes as Donald Trump has called for the repeal of the US$52.7 billion CHIPS and Science Act, which the US Congress passed in 2022 The Office of the US Trade Representative is to hold a hearing tomorrow into older Chinese-made “legacy” semiconductors that could heap more US tariffs on chips from China that power everyday goods from cars to washing machines to telecoms equipment. The probe, which began during former US president Joe Biden’s tenure in December last year, aims to protect US and other semiconductor producers from China’s massive state-driven buildup of domestic chip supply. A 50 percent US tariff on Chinese semiconductors began on Jan. 1. Legacy chips use older manufacturing processes introduced more than a decade ago and are often far simpler than
STILL HOPEFUL: Delayed payment of NT$5.35 billion from an Indian server client sent its earnings plunging last year, but the firm expects a gradual pickup ahead Asustek Computer Inc (華碩), the world’s No. 5 PC vendor, yesterday reported an 87 percent slump in net profit for last year, dragged by a massive overdue payment from an Indian cloud service provider. The Indian customer has delayed payment totaling NT$5.35 billion (US$162.7 million), Asustek chief financial officer Nick Wu (吳長榮) told an online earnings conference. Asustek shipped servers to India between April and June last year. The customer told Asustek that it is launching multiple fundraising projects and expected to repay the debt in the short term, Wu said. The Indian customer accounted for less than 10 percent to Asustek’s
Gasoline and diesel prices this week are to decrease NT$0.5 and NT$1 per liter respectively as international crude prices continued to fall last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. Effective today, gasoline prices at CPC and Formosa stations are to decrease to NT$29.2, NT$30.7 and NT$32.7 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to cost NT$27.9 per liter at CPC stations and NT$27.7 at Formosa pumps, the companies said in separate statements. Global crude oil prices dropped last week after the eight OPEC+ members said they would
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