■ RETAIL
Benetton profits increase
The family owned Benetton apparel maker on Thursday reported a 16 percent increase in net profit for last year, reflecting a better product offering and good sales outside Italy. According to preliminary figures, profit for the past year was 145 million euros (US$214 million), while revenue increased 9 percent to 2.08 billion euros. Benetton said in a statement it expects this year's profit to rise 7 percent. Sales increased about 9 percent last year and were estimated to rise between 6 percent and 8 percent this year.
■ COMPUTERS
Apple cuts order forecast
Apple Inc, the world's largest buyer of flash memory chips, slashed its projected orders for the semiconductor this year, which may lead some suppliers to post losses this quarter, research firm iSuppli Corp said. Global sales of so-called NAND flash chips will rise "marginally" this year, instead of the 27 percent increase forecast earlier, the California-based researcher said yesterday. "Apple has slashed its 2008 NAND order forecast significantly," iSuppli said, without giving figures. "In light of these factors, NAND suppliers are likely to go into the red in the first quarter and are not likely to recover in the second."
■ ENERGY
Mega solar plant planned
Abengoa Solar plans to build the world's largest solar plant in Arizona in cooperation with an energy utility, the companies said on Thursday. Abengoa Solar, a subsidiary of Spain's Abengoa technology company, signed a contract with Arizona Public Service Co (APS) to build, own and operate what would be the largest solar power plant in the world "if it were operating today," they said. The plant will sell the electricity produced to APS over the next 30 years, generating total revenue for Abengoa Solar of around US$4 billion and "bringing over US$1 billion in economic benefits to the state of Arizona." The plant will have the capacity to power 70,000 homes.
■ MEDIA
News Corp ups investment
News Corp, the global media company run by Rupert Murdoch, said on Thursday it has lifted its stake in Premiere AG, Germany's biggest pay television operator, to nearly 20 percent. The New York-based company, whose holdings include Fox news channel and Dow Jones Newswires, said it increased its stake from the 14.6 percent it bought from Unitymedia last month to 19.9 percent. The price it paid was not disclosed and News Corp did not say if it purchased the additional shares on the open market or from another investor.
■ AVIATION
Continental orders planes
Continental Airlines said on Thursday it had ordered 27 Boeing aircraft, bringing its total firm orders with the US aerospace giant to 111 for delivery in the next six years. Eight 777s and 19 Next-Generation 737 aircraft from Boeing were ordered, the airline said, without disclosing the value of the purchase. According to catalog prices on Boeing's Web site, a 777 costs US$200 million to US$279 million and a 737 US$50 million to US$85 million, valuing the deal at up to US$3.84 billion. The Texas-based airline said it would use the new 777s to serve international routes.
NATIONAL SECURITY: The Chinese influencer shared multiple videos on social media in which she claimed Taiwan is a part of China and supported its annexation Freedom of speech does not allow comments by Chinese residents in Taiwan that compromise national security or social stability, the nation’s top officials said yesterday, after the National Immigration Agency (NIA) revoked the residency permit of a Chinese influencer who published videos advocating China annexing Taiwan by force. Taiwan welcomes all foreigners to settle here and make families so long as they “love the land and people of Taiwan,” Premier Cho Jung-tai (卓榮泰) told lawmakers during a plenary session at the Legislative Yuan in Taipei. The public power of the government must be asserted when necessary and the Ministry of
Proposed amendments would forbid the use of all personal electronic devices during school hours in high schools and below, starting from the next school year in August, the Ministry of Education said on Monday. The Regulations on the Use of Mobile Devices at Educational Facilities up to High Schools (高級中等以下學校校園行動載具使用原則) state that mobile devices — defined as mobile phones, laptops, tablets, smartwatches or other wearables — should be turned off at school. The changes would stipulate that use of such devices during class is forbidden, and the devices should be handed to a teacher or the school for safekeeping. The amendments also say
EMBRACING TAIWAN: US lawmakers have introduced an act aiming to replace the use of ‘Chinese Taipei’ with ‘Taiwan’ across all Washington’s federal agencies A group of US House of Representatives lawmakers has introduced legislation to replace the term “Chinese Taipei” with “Taiwan” across all federal agencies. US Representative Byron Donalds announced the introduction of the “America supports Taiwan act,” which would mandate federal agencies adopt “Taiwan” in place of “Chinese Taipei,” a news release on his page on the US House of Representatives’ Web site said. US representatives Mike Collins, Barry Moore and Tom Tiffany are cosponsors of the legislation, US political newspaper The Hill reported yesterday. “The legislation is a push to normalize the position of Taiwan as an autonomous country, although the official US
CONSISTENT COMMITMENT: The American Institute in Taiwan director said that the US would expand investment and trade relationships to make both nations more prosperous The US would not abandon its commitment to Taiwan, and would make Taiwan safer, stronger and more prosperous, American Institute in Taiwan Director Raymond Greene said. “The US’ commitment to Taiwan has been consistent over many administrations and over many years, and we will not abandon our commitment to Taiwan, including our opposition to any attempt to use force or coercion to change Taiwan’s status,” he said in an exclusive interview with the Liberty Times (the sister newspaper of the Taipei Times) on Friday last week, which was published in the Chinese-language newspaper yesterday. The US would double down on its efforts
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