■ Trade
US retail sales higher
Strong consumer demand and record gasoline prices pushed US retail sales higher last month and helped propel the US trade deficit to a record in April, a pair of government reports said on Monday. Retail sales rose a greater-than-expected 1.2 percent last month to a seasonally adjusted US$335.8 billion. Gasoline sales rose 4.0 percent, the biggest gain since February last year, aided by record high gasoline prices which, however, have failed so far to dampen overall consumer demand. The bright retail picture was tempered by a drop in furniture and home furnishing sales and a larger decline in purchases of building materials and garden equipment. The trade deficit with China jumped nearly 15 percent in April to US$12 billion, as imports from the US' manufacturing rival surged to their highest level in six months and exports declined nearly 20 percent.
■ Gambling
Casino merger discussed
Boards for Mandalay Resort Group and MGM Mirage were meeting yesterday to approve a US$4.8 billion cash offer that would merge the two gambling companies into the industry's dominant casino operator. MGM Mirage said management would recommend that the board sign off on the deal of US$71 per share when it gathered yesterday morning. Mandalay's board was scheduled to gather later yesterday. MGM Mirage made the final bid late Sunday after raising its initial offer of US$68 per share. The merger would give MGM Mirage control of 10 premium resorts on the Las Vegas Strip, including the posh Bellagio, The Mirage and MGM Grand, the largest hotel in the world. It would also own the 654-room Boardwalk, a smaller, low-end property located on the famous stretch.
■ Electronics
Dell to expand TV line
Dell Inc, the world's biggest personal computer maker, said it plans to expand its line of flat-panel televisions and open retail kiosks in time for the holidays to increase its consumer electronics sales. Dell, which began selling TVs last fall, will sell more liquid crystal display models as well as new plasma TVs at "aggressive" prices, Michael George, general manager of the US consumer business, said at a press conference. Dell began selling digital music players and printers, in addition to TVs, over the past year to increase its consumer business as PC prices fell and profit margins narrowed. Consumers can expect a plasma TV model larger than 30 inches, the size of the largest LCD TV Dell now offers, George said.
■ Electronics
Infineon sets up new unit
Infineon Technologies AG set up a new unit, Invot AG, as the chipmaker readies itself for a restructuring, the Financial Times Deutschland newspaper reported, citing an unidentified company spokesman. The new unit, based in Munich, will distribute chip components, systems and software, the paper said, without giving further details. The new unit follows speculation that Infineon plans to split off its computer memory-chip business or put it under a separate venture following chief executive Ulrich Schumacher's departure in March.
SLOW-MOVING STORM: The typhoon has started moving north, but at a very slow pace, adding uncertainty to the extent of its impact on the nation Work and classes have been canceled across the nation today because of Typhoon Krathon, with residents in the south advised to brace for winds that could reach force 17 on the Beaufort scale as the Central Weather Administration (CWA) forecast that the storm would make landfall there. Force 17 wind with speeds of 56.1 to 61.2 meters per second, the highest number on the Beaufort scale, rarely occur and could cause serious damage. Krathon could be the second typhoon to land in southwestern Taiwan, following typhoon Elsie in 1996, CWA records showed. As of 8pm yesterday, the typhoon’s center was 180km
TYPHOON DAY: Taitung, Pingtung, Tainan, Chiayi, Hualien and Kaohsiung canceled work and classes today. The storm is to start moving north this afternoon The outer rim of Typhoon Krathon made landfall in Taitung County and the Hengchun Peninsula (恆春半島) at about noon yesterday, the Central Weather Administration (CWA) said, adding that the eye of the storm was expected to hit land tomorrow. The CWA at 2:30pm yesterday issued a land alert for Krathon after issuing a sea alert on Sunday. It also expanded the scope of the sea alert to include waters north of Taiwan Strait, in addition to its south, from the Bashi Channel to the Pratas Islands (Dongsha Islands, 東沙群島). As of 6pm yesterday, the typhoon’s center was 160km south of
STILL DANGEROUS: The typhoon was expected to weaken, but it would still maintain its structure, with high winds and heavy rain, the weather agency said One person had died amid heavy winds and rain brought by Typhoon Krathon, while 70 were injured and two people were unaccounted for, the Central Emergency Operation Center said yesterday, while work and classes have been canceled nationwide today for the second day. The Hualien County Fire Department said that a man in his 70s had fallen to his death at about 11am on Tuesday while trimming a tree at his home in Shoufeng Township (壽豐). Meanwhile, the Yunlin County Fire Department received a report of a person falling into the sea at about 1pm on Tuesday, but had to suspend search-and-rescue
RULES BROKEN: The MAC warned Chinese not to say anything that would be harmful to the autonomous status of Taiwan or undermine its sovereignty A Chinese couple accused of disrupting a pro-democracy event in Taipei organized by Hong Kong residents has been deported, the National Immigration Agency said in a statement yesterday afternoon. A Chinese man, surnamed Yao (姚), and his wife were escorted by immigration officials to Taiwan Taoyuan International Airport, where they boarded a flight to China before noon yesterday, the agency said. The agency said that it had annulled the couple’s entry permits, citing alleged contraventions of the Regulations Governing the Approval of Entry of People of the Mainland Area into the Taiwan Area (大陸地區人民進入台灣地區許可辦法). The couple applied to visit a family member in
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