■ AVIATION
Airbus plans flying casino
It's the world's biggest passenger plane, with a double-deck interior that can house in-flight gyms, shops and even a swimming pool. But for travelers who still have cash to spare, Airbus is in negotiations to transform its A380 superjumbo into a flying casino. "Certain clients of ours have shown their interest," said David Velupillai, marketing director at Airbus executive aviation. "The principal draw of the A380 is that it offers 50 percent more floor space than a Boeing 747, and if you plan to create something like [a casino], you have enough space." He did not identify which airlines or casino operators were interested, but said a fully equipped A380 with a casino on board could be available from 2012.
■ AUTO LOANS
US delinquencies soar
US auto loans that are at least two months delinquent hit a 10-year high last month, Fitch Ratings said on Thursday, signaling the continued spread of consumer weakness to beyond homes and credit cards. The firm said 0.77 percent of US prime and subprime auto asset-backed securities were more than 60 days behind on payments, with the rate jumping 12 percent from December and 44 percent from a year ago. Subprime delinquencies topped the 4 percent level for the first time since late 1997, reaching 4.03 percent last month, up 10 percent from December and 43 percent from a year earlier.
■ AVIATION
Price-fixing deal proposed
A tentative agreement by Virgin Atlantic Airways and British Airways PLC to settle civil price-fixing claims would give more than US$200 million to customers who bought tickets from either airline and who flew between Aug. 11, 2004, and March 23, 2006, the Wall Street Journal reported. The proposed settlement was presented Thursday to US District Judge Charles Breyer in San Francisco, the newspaper reported. US and British authorities fined British Airways more than US$500 million for its role in the fuel-surcharge price-fixing case. Virgin was not fined because it came forward to expose the alleged collusion, which involved other airlines and markets, the paper said.
■ MEDIA
'NY Times' to cut 100 jobs
The New York Times is cutting 100 jobs from its newsroom this year as financial pressures mount from a weak economy and competition from the Internet. Executive editor Bill Keller told employees in a meeting on Thursday that the cuts would come mainly through attrition and buyouts, but layoffs were also possible. New York Times spokeswoman Catherine Mathis said the paper has a total of 1,332 newsroom employees throughout the paper, which would make the cutbacks equivalent to nearly 8 percent of its editorial staff.
■ FINANCE
Zurich Financial profits up
Zurich Financial Services AG said on Thursday its fourth-quarter net profit rose 13.5 percent to US$1.47 billion and that it was proposing a US$2 billion share buyback. The Swiss insurance firm, which has remained virtually unaffected by the raging US subprime mortgage crisis, said net profit for the three-month period ended on Dec. 31 compared with US$1.29 billion for the same period of 2006. The company said full-year net profit for last year rose to US$5.63 billion from US$4.62 billion in 2006. Gross premiums rose to US$47.47 billion from US$46.44 billion.
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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