BAE benefits from merger
British defense company BAE Systems PLC has snapped up more than US$2 billion in US defense-technology assets that Raytheon Inc. and United Technologies Corp were forced to sell in order to gain antitrust approval for their merger. BAE said it would pay US$1.925 billion in cash for the military global positioning system (GPS) belonging to United subsidiary Collins Aerospace. It is to acquire Raytheon’s airborne tactical radios business for US$275 million in cash. “These assets have come to market as part of the regulatory process relating to the merger,” BAE’s statement said. “It’s rare that two businesses of this quality, with such strong growth prospects and close fit to our portfolio, become available,” BAE chief executive Charles Woodburn said in the statement, adding that they would be folded into the group’s electronics-systems sector.
Strikes hurt economy
The current wave of strikes will hit the economy by 0.1 percentage points over the course of one quarter, Minister of the Economy and Finance Bruno Le Maire told LCI television yesterday. He also said he hoped to resolve a row with the US over a planned French digital tax by tomorrow night. Le Maire said he would meet his US counterparts at the Davos forum this week. France in July last year decided to apply a 3 percent levy on revenue from digital services earned by firms with revenues of more than 25 million euros (US$27.7 million) nationally and 750 million euros worldwide.
Best Buy CEO under probe
Best Buy Co said it is investigating chief executive officer Corie Barry’s personal conduct, a potential blow to the electronics retailer that comes eight years after a former CEO resigned amid a similar probe. The board received an anonymous letter with the allegations against Barry, the company said in a statement. Best Buy said it hired the law firm Sidley Austin LLP to conduct an independent review and encouraged “the letter’s author to come forward and be part of that confidential process.” Barry said in the statement that the board “has my full cooperation and support as it undertakes this review, and I look forward to its resolution in the near term.”
Total, Marubeni ink deal
French energy major Total SA and Japan’s Marubeni are to help build a solar park in Qatar, holding stakes of 19.6 percent and 20.4 percent respectively in Siraj 1 SPV, the consortium that won the emirate’s first solar tender. The consortium is to develop and operate the Al Kharsaah Solar PV IPP Project. Siraj Energy, a joint venture between Qatar Petroleum and Qatar Electricity & Water Co owns the remaining 60 percent in the project. Marubeni yesterday said that a 25-year power purchase agreement for the photovoltaic farm’s output has been executed with Qatar utility.
TCL, Tianjin in talks
The Tianjin city government is in early talks to sell stakes in two of its listed technology firms to Chinese consumer electronics giant TCL Corp (TCL集團), people familiar with the matter said. The discussions involved holdings in chip devices maker Tianjin Zhonghuan Semiconductor Co (天津中環半導體) and Tianjin Printronics Circuit Corp (天津普林電路), they said. The city and TCL are still exploring options including direct stake sales or having the TCL acquire control in the major shareholder of the two firms, the people said.
PLANNED OUT: The government is lifting sale and export restrictions on 60% of the 20 million masks made daily, but people can still make purchases using their NHI cards Twenty thousand boxes of 50 masks each would be on sale at FamilyMart convenience stores starting tomorrow, Taiwan FamilyMart Co Ltd (全家便利商店) said yesterday. A box of 50 masks would cost NT$249 for those with FamilyMart memberships and NT$299 for those without, with no limits placed on how many boxes a person can buy, the company said. Convenience store chain operator Hi-Life International Co Ltd (萊爾富) said that it would also start selling masks from tomorrow. It has yet to announce details about prices and quantity. Hypermarket chain operator Carrefour Taiwan (家樂福) said that it would start selling packs of five
BOOSTING BUYING: A source said that the idea of pre-ordering vouchers online is being considered, but the preliminary plan is for people to buy them at post offices A stimulus voucher program to be rolled out next month to boost consumption would be available not only to Taiwanese, but also foreign nationals and Chinese spouses who hold residency permits, a source familiar with the matter said yesterday. The government is fine-tuning the details of the program, which involves issuing vouchers for in-store purchases to revive buying amid the COVID-19 pandemic. During a radio interview on Monday last week, National Development Council (NDC) Minister Kung Ming-hsin (龔明鑫) said that the plan is to allow anyone, regardless of age or income level, to buy NT$3,000 (US$99.89) worth of vouchers for
Delta Electronics Inc (台達電), the nation’s leading power management solutions provider, has signed an agreement to acquire Canadian software firm Trihedral Engineering Ltd to bolster its smart production efforts, it said on Saturday. Delta said in a statement that it would acquire Trihedral for C$45 million (US$32.68 million) through its 100 percent-owned subsidiary Delta Electronics (Netherlands) BV. Trihedral specializes in supervisory control and data acquisition (SCADA) and industrial Internet of Things software, which would strengthen Delta’s hardware offerings in fast-growing areas such as automation, artificial intelligence and data analytics, it said. “The collection, monitoring and analyzing of data are critical to Delta’s two
‘ONE-STOP SHOP’: A Miaoli official said that the factory in the Jhunan section of the Hsinchu Science Park would create more than 1,000 jobs and boost prosperity A new high-end IC packaging and testing plant planned by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in Miaoli County is expected to start operations in the middle of next year, Miaoli County Commissioner Hsu Yao-chang (徐耀昌) said. Hsu wrote on Facebook that TSMC, the world’s largest pure wafer foundry operator, would invest NT$303.2 billion (US$10.1 billion) to build the plant, the largest-ever single investment in Taiwan. However, TSMC declined to disclose the financial terms of the deal, while a company board meeting on May 12 approved a spending plan worth NT$168.2 billion as part of its investment plans. Construction of the