■ TECHNOLOGY
Infineon posts loss
German chipmaker Infineon Technologies AG posted an unexpected net loss for the second quarter, dashing analyst forecasts for a profit, as restructuring costs and lower sales chipped away at its bottom line. The company lost 11 million euros (US$15 million) in the quarter, less than the 26 million euros it lost in the same quarter a year earlier. Sales slipped 2 percent to 1.96 billion euros from 1.99 billion euros a year earlier, slightly below the 2.01 billion euros analysts expected. The figures included the operations of Qimonda AG, the computer chip maker that Infineon spun off but in which it still holds a nearly 86 percent stake. Excluding Qimonda, Infineon sales fell 8 percent to 978 million euros from 1.06 billion euros a year earlier.
■ TECHNOLOGY
Microsoft posts big profits
Microsoft Corp reported on Thursday that its profits soared to a record high in the first three months of the year due to sales of its new Vista operating system and Office software. Profit in the quarter ending last month was US$4.43 billion, or US$0.50 per share, as compared to US$0.29 per share, or US$2.98 billion, in the same period last year. The software colossus credited the success of its globally-promoted new Vista operating system and related software for what it declared a record-breaking quarter. Revenues at the world's largest software company tallied US$14.4 billion in the quarter as compared to US$10.9 billion during the same three months last year.
■ PET FOOD
Pet food firm sues supplier
A US pet food manufacturer that recalled 60 million cans of its products last month has sued another company that it says supplied a contaminated ingredient. Menu Foods Midwest Corp wants las Vegas-based ChemNutra Inc to pay costs associated with the recall of dog and cat food and is seeking damages "in excess of US$75,000." According to Menu Foods' lawsuit, wheat gluten that ChemNutra sold to Menu Foods Midwest, an affiliate of Menu Foods Ltd, contained melamine, a chemical found in plastics and pesticides. Menu Foods Ltd recalled its products after 16 pets, mostly cats, died from eating contaminated food.
■ MARKETS
Bank's IPO a big success
China CITIC Bank (中信銀行), China's seventh-largest bank, nearly doubled in price on its trading debut in Shanghai yesterday after the year's largest initial public offering so far, dealers said. CITIC Bank's A-shares closed at 11.37 yuan (US$1.47), up 96 percent and well above expectations for a trading range of 6.5 to 8 yuan, they said. The lender, which also listed in Hong Kong yesterday, sold 2.302 billion A-shares in Shanghai at 5.8 yuan and 4.885 billion H-shares in Hong Kong at HK$5.86 (US$0.75).
■ ECONOMY
BOJ leaves rate unchanged
The Bank of Japan (BoJ) left its key interest rate unchanged yesterday after Tokyo said consumer prices marked their sharpest decline in two years last month, fueling concerns that deflation remains a threat. The core consumer price index slid a worse-than-expected 0.3 percent last month. It was the second straight decline after the index fell 0.1 percent in February. Later yesterday, the BoJ voted unanimously to keep its key interest rate unchanged at 0.5 percent, as widely expected. The central bank last raised the rate in February from 0.25 percent.
Taiwan’s Lee Chia-hao (李佳豪) on Sunday won a silver medal at the All England Open Badminton Championships in Birmingham, England, a career best. Lee, 25, took silver in the final of the men’s singles against world No. 1 Shi Yuqi (石宇奇) of China, who won 21-17, 21-19 in a tough match that lasted 51 minutes. After the match, the Taiwanese player, who ranks No. 22 in the world, said it felt unreal to be challenging an opponent of Shi’s caliber. “I had to be in peak form, and constantly switch my rhythm and tactics in order to score points effectively,” he said. Lee got
‘CROWN JEWEL’: Washington ‘can delay and deter’ Chinese President Xi Jinping’s plans for Taiwan, but it is ‘a very delicate situation there,’ the secretary of state said US President Donald Trump is opposed to any change to Taiwan’s “status quo” by force or extortion and would maintain that policy, US Secretary of State Marco Rubio told the Hugh Hewitt Show host on Wednesday. The US’ policy is to maintain Taiwan’s “status quo” and to oppose any changes in the situation by force or extortion, Rubio said. Hewitt asked Rubio about the significance of Trump earlier this month speaking with Taiwan Semiconductor Manufacturing Co (台積電) chairman C.C. Wei (魏哲家) at the White House, a meeting that Hewitt described as a “big deal.” Asked whether the meeting was an indication of the
‘RELATIVELY STRONG LANGUAGE’: An expert said the state department has not softened its language on China and was ‘probably a little more Taiwan supportive’ China’s latest drills near Taiwan on Monday were “brazen and irresponsible threats,” a US Department of State spokesperson said on Tuesday, while reiterating Washington’s decades-long support of Taipei. “China cannot credibly claim to be a ‘force for stability in a turbulent world’ while issuing brazen and irresponsible threats toward Taiwan,” the unnamed spokesperson said in an e-mailed response to media queries. Washington’s enduring commitment to Taiwan will continue as it has for 45 years and the US “will continue to support Taiwan in the face of China’s military, economic, informational and diplomatic pressure campaign,” the e-mail said. “Alongside our international partners, we firmly
KAOHSIUNG CEREMONY: The contract chipmaker is planning to build 5 fabs in the southern city to gradually expand its 2-nanometer chip capacity Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday confirmed that it plans to hold a ceremony on March 31 to unveil a capacity expansion plan for its most advanced 2-nanometer chips in Kaohsiung, demonstrating its commitment to further investment at home. The ceremony is to be hosted by TSMC cochief operating officer Y.P. Chyn (秦永沛). It did not disclose whether Premier Cho Jung-tai (卓榮泰) and high-ranking government officials would attend the ceremony. More details are to be released next week, it said. The chipmaker’s latest move came after its announcement earlier this month of an additional US$100 billion
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