■ Oil
OPEC to cut output
The OPEC cartel has agreed informally to cut oil output by 1 million barrels a day or 4.0 percent in order to bolster prices which have fallen some 25 percent from record levels in July, the Financial Times reported yesterday. The newspaper said the majority of the 11-member organization back a voluntary reduction and the deal could be ratified as early as a mid-December meeting in Abuja. An unnamed OPEC official said in the report that the group "is going to defend a price floor for its oil of US$50 to US$55 a barrel." The price of OPEC's reference crude oil on Wednesday was US$55.27.
■ Electronics
Jobs sorry over options
Apple Computer Inc chief executive Steve Jobs apologized on Wednesday for the firm's past stock-option practices after an internal investigation found accounting irregularities between 1997 and 2002 and showed Jobs was aware of some options backdating. The iPod and Macintosh maker said its three-month investigation also prompted the resignation of former chief financial officer Fred Anderson from the firm's board of directors. Apple said it will likely have to restate some earnings, threatening to wipe out some of the profit generated during the most prosperous stretch in Apple's 30-year history.
■ Internet
Google eyes programmers
Google Inc is introducing a new search service -- strictly for computer programmers only. The Web search leader said late on Wednesday it was introducing Google Code Search, a site that simplifies how software developers search for programming code to improve existing software or create new programs. Searchers can seek out specific programming terms or computer languages and dive deep into compressed code to locate specific features. Users also can narrow a search to find software code based on specific licensing requirements, which is a big deal in warding off future patent litigation.
■ Aviation
Ryanair bids for Aer Lingus
Ryanair Holdings PLC, Europe's largest discount airline, offered yesterday to buy Aer Lingus PLC for 1.48 billion euros (US$1.88 billion) to expand its operations in Ireland. Ryanair said it would pay 2.80 euros a share for the former state-owned carrier. The offer represents a premium of 12 percent over Tuesday's closing price of 2.51 euros. CEO Michael O'Leary said he also wanted to buy the Irish government's 28 percent stake in Aer Lingus. The government has previously said it will retain the stake to safeguard Irish economic interests.
■ Oil
Japan, Iran continue talks
A senior Japanese trade official said yesterday that Japanese and Iranian oil companies were still in discussions over a US$2 billion project to develop Iran's Azadegan oil field. Vice Economy, Trade and Industry Minister Takao Kitabata told reporters that the two sides were still "conducting difficult negotiations" that are likely to continue for a "very long time" due to the number of negotiation items on the table, according to ministry official Nobuhiro Watanabe. Earlier, Iran's Fars news agency quoted the head of the National Iranian Oil Co as expressing the view that Japan's Inpex Corp had lost its right to develop the field due to failed negotiations between the two firms, Kyodo News agency said.
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
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
CELEBRATION: The PRC turned 75 on Oct. 1, but the Republic of China is older. The PRC could never be the homeland of the people of the ROC, Lai said The People’s Republic of China (PRC) could not be the “motherland” of the people of the Republic of China (ROC), President William Lai (賴清德) said yesterday. Lai made the remarks in a speech at a Double Ten National Day gala in Taipei, which is part of National Day celebrations that are to culminate in a fireworks display in Yunlin County on Thursday night next week. Lai wished the country a happy birthday and called on attendees to enjoy the performances and activities while keeping in mind that the ROC is a sovereign and independent nation. He appealed for everyone to always love their
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