■ Telecoms
AT&T, MCI deals approved
US regulators approved SBC Communications' takeover of AT&T and Verizon Communications' purchase of MCI on Monday in a move consumer activists have said is anticompetitive. By 4-0 votes, the US Federal Communications Commission approved a compromise adding several conditions -- but also removing the last regulatory barriers -- to the multibillion-dollar mergers. The agency required that SBC and Verizon freeze the wholesale prices they charge competitors to lease high-capacity business lines and said they had to guarantee that they will sell their Internet access as a stand-alone service, so customers aren't forced to buy local phone service as well. The acquisition by SBC Communications of AT&T is valued at US$16 billion; the deal with Verizon Communications and MCI is said to be worth about US$8.5 billion.
■ Communications
Motorola settles lawsuit
Motorola Inc, the world's No. 2 mobile phone maker, said it has agreed to settle a lawsuit against former president Mike Zafirovski for US$11.5 million cash and other requirements. Motorola earlier this month sued Zafirovski, claiming his new job as CEO of Nortel Networks Corp could risk disclosure of Motorola's trade secrets. The telecommunications-equipment maker was not named as a defendant in the lawsuit. Motorola said the settlement "reaffirms Zafirovski's obligations to protect Motorola's trade secrets and confidential information." It also includes an US$11.5 million cash payment to Motorola and restricts Nortel and Zafirovski from recruiting Motorola employees. Nortel said in a statement on Monday that the settlement includes no admission of any breaches of agreements or other improper conduct by Zafirovski or either company.
■ Currencies
Yuan exchange eased in HK
China's central bank said yesterday it has raised the yuan-exchange limit for Hong Kong individuals to 20,000 yuan (US$2,470) per transaction, from 6,000 yuan. The move was seen as part of a package of measures aimed at promoting economic ties between the mainland and the region. The central-bank statement also said it raised the ceiling on yuan remittances to 80,000 yuan from 50,000 yuan. Hong Kong businessmen can now exchange their yuan deposits into Hong Kong dollars but they are still barred from changing their Hong Kong dollar deposits into yuan. Analysts said the move would channel more capital from China to Hong Kong, helping to ease pressure on yuan appreciation.
■ Entertainment
Apple sells 1 million videos
Apple Computer Inc on Monday announced it had sold more than 1 million videos from its online iTunes music store since launching the image download service less than three weeks ago. The video library was unveiled on Oct. 12 when tech-innovator Apple launched its iPod portable video player that can screen music videos and hit television shows for fans on the move. Video iPod owners can download and buy over 2,000 music videos, short films from Pixar Animation Studios as well as hit television programs such as Desperate Housewives and Lost under a landmark tie up with Walt Disney Co. "Selling 1 million videos in less than 20 days strongly suggests there is a market for legal video downloads," said Steve Jobs, Apple's chief executive.
INSURRECTION: The NSB said it found evidence the CCP was seeking snipers in Taiwan to target members of the military and foreign organizations in the event of an invasion The number of Chinese spies prosecuted in Taiwan has grown threefold over a four-year period, the National Security Bureau (NSB) said in a report released yesterday. In 2021 and 2022, 16 and 10 spies were prosecuted respectively, but that number grew to 64 last year, it said, adding that the Chinese Communist Party (CCP) was working with gangs in Taiwan to develop a network of armed spies. Spies in Taiwan have on behalf of the CCP used a variety of channels and methods to infiltrate all sectors of the country, and recruited Taiwanese to cooperate in developing organizations and obtaining sensitive information
Seven hundred and sixty-four foreigners were arrested last year for acting as money mules for criminals, with many entering Taiwan on a tourist visa for all-expenses-paid trips, the Criminal Investigation Bureau (CIB) said on Saturday. Although from Jan. 1 to Dec. 26 last year, 26,478 people were arrested for working as money mules, the bureau said it was particularly concerned about those entering the country as tourists or migrant workers who help criminals and scammers pick up or transfer illegally obtained money. In a report, officials divided the money mules into two groups, the first of which are foreigners, mainly from Malaysia
SILICON VALLEY HUB: The office would showcase Taiwan’s strengths in semiconductors and artificial intelligence, and help Taiwanese start-ups connect with global opportunities Taiwan has established an office in Palo Alto, one of the principal cities of Silicon Valley in California, aimed at helping Taiwanese technology start-ups gain global visibility, the National Development Council said yesterday. The “Startup Island Taiwan Silicon Valley hub” at No. 299 California Avenue is focused on “supporting start-ups and innovators by providing professional consulting, co-working spaces, and community platforms,” the council said in a post on its Web site. The office is the second overseas start-up hub established by the council, after a similar site was set up in Tokyo in September last year. Representatives from Taiwanese start-ups, local businesses and
‘DETERRENT’: US national security adviser-designate Mike Waltz said that he wants to speed up deliveries of weapons purchased by Taiwan to deter threats from China US president-elect Donald Trump’s nominee for US secretary of defense, Pete Hegseth, affirmed his commitment to peace in the Taiwan Strait during his confirmation hearing in Washington on Tuesday. Hegseth called China “the most comprehensive and serious challenge to US national security” and said that he would aim to limit Beijing’s expansion in the Indo-Pacific region, Voice of America reported. He would also adhere to long-standing policies to prevent miscalculations, Hegseth added. The US Senate Armed Services Committee hearing was the first for a nominee of Trump’s incoming Cabinet, and questions mostly focused on whether he was fit for the
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