■ Automobiles
Morris Garages is no more
MG's new Chinese owner, the Nanjing Automobile Group, has opted to drop the heritage associated with the marque best known for rakish sports cars and change the meaning of the initials. The letters in the classic octagon logo now stand for "Modern Gentleman" instead of "Morris Garages." According to Nanjing, the name-change fits in with the buyers the company now wishes to attract. MG was first founded in 1923 by British car enthusiast Cecil Kimber, who started out by modifying Morris cars to make them go faster, hence the original name.
■ Banking
Macquarie acquires ACM
Australian financial heavyweight Macquarie Bank has bought US newspaper publisher American Consolidated Media (ACM) for US$80 million and could further boost its US interests, it said yesterday. Macquarie Media Group Ltd acquired ACM, which publishes 40 newspapers distributed in nine regional communities in the US states of Texas and Oklahoma. Macquarie Bank also said it was interested in other community newspapers. In the 11 months to November, ACM posted earnings before interest, tax, depreciation and amortization (EBITDA) of A$8.9 million with an EBITDA margin of 25.1 percent.
■ Computing
LeBron signs for Microsoft
The ever-expanding LeBron James empire is entering a new realm. Microsoft Corp is using the NBA star to promote next week's consumer release of its new Windows Vista operating system. James is the first NBA player that the Redmond, Washington-based software giant has used to promote its products, Microsoft spokesman Lou Gellos said. And Vista may not be the last Microsoft project for the Cleveland Cavaliers guard. Microsoft declined to reveal how much it paid James, who turned 22 last month. When he was still a senior at Akron's St Vincent-St Mary High School, James signed a seven-year, US$90 million endorsement contract with Nike Inc.
■ Gambling
Macau surpasses Vegas
Macau surpassed the Las Vegas Strip to become the world's biggest gambling center last year, according to industry analysts and government figures released on Tuesday. Fueled by a casino investment boom and the millions of Chinese visitors flooding in, Macau said its gambling revenue soared 22 percent last year, to US$6.95 billion. Las Vegas has not yet released its own full-year statistics but analysts estimate that revenue on the Las Vegas Strip was about US$6.5 billion last year. And this year, Macau may take in US$8 billion in gambling revenue, according to industry analysts.
■ Finance
Thailand may ease reins
The Bank of Thailand said yesterday that it may consider relaxing capital control rules if authorities feel that the Thai baht can hold steady against the US dollar. "The bank does not want to impose this measure for a long time and it is ready to ease the measure if the baht's stability would not be affected," central bank head Tarisa Watanagase said. Her remarks came one day after Finance Minister Pridiyathorn Devakula said the capital controls would remain in effect. Reserve requirements imposed last month effectively lock for a year 30 percent of any fund inflows coming into Thailand for financial investment.
US PUBLICATION: The results indicated a change in attitude after a 2023 survey showed 55 percent supported full-scale war to achieve unification, the report said More than half of Chinese were against the use of force to unify with Taiwan under any circumstances, a survey conducted by the Atlanta, Georgia-based Carter Center and Emory University found. The survey results, which were released on Wednesday in a report titled “Sovereignty, Security, & US-China Relations: Chinese Public Opinion,” showed that 55.1 percent of respondents agreed or somewhat agreed that “the Taiwan problem should not be resolved using force under any circumstances,” while 24.5 percent “strongly” or “somewhat” disagreed with the statement. The results indicated a change in attitude after a survey published in “Assessing Public Support for (Non)Peaceful Unification
The CIA has a message for Chinese government officials worried about their place in Chinese President Xi Jinping’s (習近平) government: Come work with us. The agency released two Mandarin-language videos on social media on Thursday inviting disgruntled officials to contact the CIA. The recruitment videos posted on YouTube and X racked up more than 5 million views combined in their first day. The outreach comes as CIA Director John Ratcliffe has vowed to boost the agency’s use of intelligence from human sources and its focus on China, which has recently targeted US officials with its own espionage operations. The videos are “aimed at
‘MISGUIDED EDICT’: Two US representatives warned that Somalia’s passport move could result in severe retaliatory consequences and urged it to reverse its decision Minister of Foreign Affairs Lin Chia-lung (林佳龍) has ordered that a special project be launched to counter China’s “legal warfare” distorting UN Resolution 2758, a foreign affairs official said yesterday. Somalia’s Civil Aviation Authority on Wednesday cited UN Resolution 2758 and Mogadishu’s compliance with the “one China” principle as it banned people from entering or transiting in the African nation using Taiwanese passports or other Taiwanese travel documents. The International Air Transport Association’s system shows that Taiwanese passport holders cannot enter Somalia or transit there. The Ministry of Foreign Affairs (MOFA) protested the move and warned Taiwanese against traveling to Somalia or Somaliland
Four former Hong Kong opposition lawmakers jailed in the territory’s largest national security case were released yesterday after more than four years in prison, the first among dozens convicted last year to regain their freedom. Former legislators Claudia Mo (毛孟靜), Jeremy Tam (譚文豪), Kwok Ka-ki (郭家麒) and Gary Fan (范國威) were part of a group of 47 public figures — including some of Hong Kong’s best-known democracy advocates — who were charged with subversion in 2021 for holding an informal primary election. The case fell under a National Security Law imposed on the territory by Beijng, and drew international condemnation and warnings
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