■ Fraud
Fastow pleads not guilty
Enron Corp former chief financial officer Andrew Fastow pleaded not guilty to new charges that he master-minded the accounting scandal that bankrupted the former energy trader. Fastow, who last year pleaded not guilty to 78 counts of fraud and other federal charges in connec-tion with the collapse of Enron, on Monday denied in US federal court in Hous- ton, Texas, that he had also conspired to falsify business records, filed false tax forms and committed insider trading, among other new charges. Fastow, who was not in court, entered the plea through his law-yers. Fastow and 18 others have been charged in the government's investigation of Enron, which lost US$68 billion in market value from its stock market high to its filing for bankruptcy in December 2001.
■ Internet
Napster plans comeback
The once-wildly popular online music site Napster will make a comeback, its new owner said Monday as it announced plans to acquire the Pressplay music venture and use it as the basis for a new Napster. The announcement Monday by the music software firm Roxio said it was acquiring Pressplay, the online music venture of Universal Music Group and Sony Music Entertainment in a cash and stock deal worth an esti-mated US$39.5 million. "As a result of this transaction, Roxio has acquired a legal digital music distribution infrastructure and catalog rights with all five major music labels," the Santa Clara, California, firm said in a statement. Pressplay will serve as the foundation for the launch of Roxio's new legal online music service under the Napster brand.
■ Telecoms
Orange offers instant texting
Orange SA, Europe's No. 2 wireless company, said an accord with Microsoft Corp allows customers to have real-time text conversations on their phones through the US company's MSN Messen-ger and Hotmail services. About 35 million Orange customers can send and receive messages simul-taneously between groups of users through their existing phone. They can also receive alerts when new mail lands in their Hotmail account, the France Telecom SA unit said in an e-mailed statement. MSN, the second-biggest US Internet service provider, has about 110 million registered Hotmail users and Messenger has 75 million. European wireless operators are adding services such as games, video and photo messaging to persuade customers to spend more as subscriber growth slows. Orange on April 29 said first-quarter subscriber growth in the UK and France almost ground to a halt.
■ Biotechnology
Mahathir launches project
Malaysian Prime Minister Mahathir Mohamad yester-day launched an ambitious biotechnology hub as part of Malaysia's push towards becoming a developed nation by 2020. Mahathir, performing the ground-breaking ceremony for the BioValley project, invited foreign scientists and investors to set up base there to tap Malaysia's rich bio-diversity. He said the government would invest 100 million ringgit (US$263 million) in the initial phase to build infrastructure and facilities, including three research institutions dealing in genomics, pharmaceu-ticals and agriculture by 2006. The BioValley got off to a good start with three companies signing intent letters to set up base there.
Agencies
Taiwan’s Lee Chia-hao (李佳豪) on Sunday won a silver medal at the All England Open Badminton Championships in Birmingham, England, a career best. Lee, 25, took silver in the final of the men’s singles against world No. 1 Shi Yuqi (石宇奇) of China, who won 21-17, 21-19 in a tough match that lasted 51 minutes. After the match, the Taiwanese player, who ranks No. 22 in the world, said it felt unreal to be challenging an opponent of Shi’s caliber. “I had to be in peak form, and constantly switch my rhythm and tactics in order to score points effectively,” he said. Lee got
‘CROWN JEWEL’: Washington ‘can delay and deter’ Chinese President Xi Jinping’s plans for Taiwan, but it is ‘a very delicate situation there,’ the secretary of state said US President Donald Trump is opposed to any change to Taiwan’s “status quo” by force or extortion and would maintain that policy, US Secretary of State Marco Rubio told the Hugh Hewitt Show host on Wednesday. The US’ policy is to maintain Taiwan’s “status quo” and to oppose any changes in the situation by force or extortion, Rubio said. Hewitt asked Rubio about the significance of Trump earlier this month speaking with Taiwan Semiconductor Manufacturing Co (台積電) chairman C.C. Wei (魏哲家) at the White House, a meeting that Hewitt described as a “big deal.” Asked whether the meeting was an indication of the
‘RELATIVELY STRONG LANGUAGE’: An expert said the state department has not softened its language on China and was ‘probably a little more Taiwan supportive’ China’s latest drills near Taiwan on Monday were “brazen and irresponsible threats,” a US Department of State spokesperson said on Tuesday, while reiterating Washington’s decades-long support of Taipei. “China cannot credibly claim to be a ‘force for stability in a turbulent world’ while issuing brazen and irresponsible threats toward Taiwan,” the unnamed spokesperson said in an e-mailed response to media queries. Washington’s enduring commitment to Taiwan will continue as it has for 45 years and the US “will continue to support Taiwan in the face of China’s military, economic, informational and diplomatic pressure campaign,” the e-mail said. “Alongside our international partners, we firmly
KAOHSIUNG CEREMONY: The contract chipmaker is planning to build 5 fabs in the southern city to gradually expand its 2-nanometer chip capacity Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday confirmed that it plans to hold a ceremony on March 31 to unveil a capacity expansion plan for its most advanced 2-nanometer chips in Kaohsiung, demonstrating its commitment to further investment at home. The ceremony is to be hosted by TSMC cochief operating officer Y.P. Chyn (秦永沛). It did not disclose whether Premier Cho Jung-tai (卓榮泰) and high-ranking government officials would attend the ceremony. More details are to be released next week, it said. The chipmaker’s latest move came after its announcement earlier this month of an additional US$100 billion
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