■ Computers
Dell under investigation
Dell Inc said US federal regulators have begun a formal investigation into the computer giant, which had been part of an informal inquiry since August. Dell also said it was postponing the release of its third quarter earnings report -- scheduled for yesterday after markets closed -- until sometime later in the month. The company said on Wednesday the earnings report delay was unrelated to the widening Securities and Exchange Commission probe. A spokesman said Dell did not know what the SEC was specifically investigating. In a press release, Dell said the delay was due to the "level of complexity the company is facing in the preparation of its preliminary results."
■ Software
Office Live launched in US
Microsoft launched its Office Live suite of online business software in the US on Wednesday and said it would release test versions in Europe and Japan next week. Internet-based Office Live applications geared to small businesses were available in a free "Basics" version and in an upgraded "Essentials" package costing US$19.95 monthly and a "Premium" version for US$39.95. Free beta, or trial, versions of Office Live would be available in France, Britain, Germany and Japan on Tuesday, Microsoft said. The Redmond, Washington, software giant billed the suite of software as a tool for businesses to create Web sites, attract customers and manage their affairs.
■ Energy
Enron executive sentenced
Richard Causey, the last of the top Enron Corp executives to learn his punishment, was sentenced on Wednesday to five-and-a-half years in prison for his role in one of the biggest corporate scandals in US history. The former chief accounting officer pleaded guilty in December to securities fraud two weeks before he was to be tried along with Enron founder Kenneth Lay and former chief executive Jeffrey Skilling on conspiracy, fraud and other charges related to the company's collapse. Causey also agreed to fork over US$1.25 million to the government and forfeited a claim to about US$250,000 in deferred compensation as part of his plea deal. Unlike others at Enron, Causey didn't skim millions of dollars for himself from shady deals.
■ Pharmaceuticals
Merck outsourcing R&D
Merck & Co has agreed to outsource some of its drug research work to India's Advinus Therapeutics in a deal that is expected to yield up to US$150 million for the Indian company in the first year. The Indian firm, which is owned by the Tata Group, will collaborate with Merck on R&D of drugs for such metabolic disorders as diabetes, obesity and hypertension, said Rashmi Barbhaiya, managing director of Advinus. He said Merck would retain the right to take the most promising candidates into commercial development.
■ Economy
Japanese get record raises
Workers in Japan are getting record-high bonuses, an average of ¥868,932 (US$7,370), a survey of major companies by the Nihon Keizai Shimbun showed. Bonus amounts rose an average of 1.97 percent from last year, according to the business newspaper's survey of 197 companies released yesterday. The amount of winter bonus pay for workers this year beat a previous record set in 1997 of ¥807,188.
SECURITY: As China is ‘reshaping’ Hong Kong’s population, Taiwan must raise the eligibility threshold for applications from Hong Kongers, Chiu Chui-cheng said When Hong Kong and Macau citizens apply for residency in Taiwan, it would be under a new category that includes a “national security observation period,” Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said yesterday. President William Lai (賴清德) on March 13 announced 17 strategies to counter China’s aggression toward Taiwan, including incorporating national security considerations into the review process for residency applications from Hong Kong and Macau citizens. The situation in Hong Kong is constantly changing, Chiu said to media yesterday on the sidelines of the Taipei Technology Run hosted by the Taipei Neihu Technology Park Development Association. With
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
A US Marine Corps regiment equipped with Naval Strike Missiles (NSM) is set to participate in the upcoming Balikatan 25 exercise in the Luzon Strait, marking the system’s first-ever deployment in the Philippines. US and Philippine officials have separately confirmed that the Navy Marine Expeditionary Ship Interdiction System (NMESIS) — the mobile launch platform for the Naval Strike Missile — would take part in the joint exercise. The missiles are being deployed to “a strategic first island chain chokepoint” in the waters between Taiwan proper and the Philippines, US-based Naval News reported. “The Luzon Strait and Bashi Channel represent a critical access
Pope Francis is be laid to rest on Saturday after lying in state for three days in St Peter’s Basilica, where the faithful are expected to flock to pay their respects to history’s first Latin American pontiff. The cardinals met yesterday in the Vatican’s synod hall to chart the next steps before a conclave begins to choose Francis’ successor, as condolences poured in from around the world. According to current norms, the conclave must begin between May 5 and 10. The cardinals set the funeral for Saturday at 10am in St Peter’s Square, to be celebrated by the dean of the College
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