■ELECTRONICS
Another death at Foxconn
A worker at iPhone maker Foxconn’s (富士康) southern China manufacturing hub died late last week from what his family said was overwork, a claim the company denied. Yan Li (顏利), a 27-year-old engineer, died suddenly at his home early on May 27, according to a statement from China Labor Watch, a US-based activist organization. Yan had been working the night shift for more than a month straight, sometimes working 24 hours non-stop, the statement said. Hon Hai Precision Industry (鴻海精密), the owner of Foxconn, said in a separate statement that it did not see the death as work-related.
■TRADE
Australia records surplus
Surging commodities exports drove Australia to a surprise trade surplus in April, official data showed yesterday, thanks to a spike in coal-shipping volumes and a jump in the price of iron ore. Australia posted a A$164 million surplus (US$137 million), seasonally adjusted, in April, far outstripping analysts’ expectations of an A$800 million deficit and well ahead of March’s A$2.04 billion deficit. The Bureau of Statistics said the surprise surplus was underpinned by an A$1.01 billion increase in ore and mineral exports.
■TELECOMS
Nokia details new models
Top global mobile phone maker Nokia yesterday released details of four new cheap phone models and a battery charger powered by the energy generated from riding a bicycle. The charger, which can be fitted into any Nokia phone with a 2mm charger jack, uses a dynamo to generate electricity from the movement of the wheels, Nokia said in a statement. The price of the charger kit, which also includes a holder for securing the phone to the bicycle, will vary according to market, while shipments of the phone models, priced at 30 to 45 euros (US$36.90-US$55.40), will begin by September, Nokia said.
■BANKING
Spanish banks to merge
Four regional Spanish savings banks said on Wednesday they had agreed to merge ahead of a June 30 deadline to tap a government rescue fund aimed at shoring up the country’s weaker banks. In a joint statement Caja Murcia, Caixa Penedes, Caja Granada and Sa Nostra said the merger would create a lender with 73 billion euros in assets, 1,703 branches and 4 million customers. The new entity will be led by Caja Murcia.
■OIL
RUSIA files for bankruptcy
TNK-BP, British oil major BP’s venture with a group of Russian billionaires, said yesterday that the unit which holds the license to the vast Kovykta gas field had filed for bankruptcy. TNK-BP said the RUSIA Petroleum unit is unable to pay off debt to its parent company. “The current financial situation precludes RUSIA Petroleum from timely repayment of its loans to TNK-BP Group,” the company said in a statement.
■RETAIL
Stores to charge for plastic
It could soon cost California shoppers at the checkout aisle if they forget to bring their own bags to the grocery store. Legislation passed on Wednesday by the California State Assembly would prohibit grocery stores, pharmacies, liquor stores and convenience stores from giving out plastic bags. It would also call for customers to be charged for using store-issued paper bags. If signed into law, California would be the first US state to impose such a ban.
Authorities have detained three former Taiwan Semiconductor Manufacturing Co (TMSC, 台積電) employees on suspicion of compromising classified technology used in making 2-nanometer chips, the Taiwan High Prosecutors’ Office said yesterday. Prosecutors are holding a former TSMC engineer surnamed Chen (陳) and two recently sacked TSMC engineers, including one person surnamed Wu (吳) in detention with restricted communication, following an investigation launched on July 25, a statement said. The announcement came a day after Nikkei Asia reported on the technology theft in an exclusive story, saying TSMC had fired two workers for contravening data rules on advanced chipmaking technology. Two-nanometer wafers are the most
NEW GEAR: On top of the new Tien Kung IV air defense missiles, the military is expected to place orders for a new combat vehicle next year for delivery in 2028 Mass production of Tien Kung IV (Sky Bow IV) missiles is expected to start next year, with plans to order 122 pods, the Ministry of National Defense’s (MND) latest list of regulated military material showed. The document said that the armed forces would obtain 46 pods of the air defense missiles next year and 76 pods the year after that. The Tien Kung IV is designed to intercept cruise missiles and ballistic missiles to an altitude of 70km, compared with the 60km maximum altitude achieved by the Missile Segment Enhancement variant of PAC-3 systems. A defense source said yesterday that the number of
A bipartisan group of US representatives have introduced a draft US-Taiwan Defense Innovation Partnership bill, aimed at accelerating defense technology collaboration between Taiwan and the US in response to ongoing aggression by the Chinese Communist Party (CCP). The bill was introduced by US representatives Zach Nunn and Jill Tokuda, with US House Select Committee on the Chinese Communist Party Chairman John Moolenaar and US Representative Ashley Hinson joining as original cosponsors, a news release issued by Tokuda’s office on Thursday said. The draft bill “directs the US Department of Defense to work directly with Taiwan’s Ministry of National Defense through their respective
Tsunami waves were possible in three areas of Kamchatka in Russia’s Far East, the Russian Ministry for Emergency Services said yesterday after a magnitude 7.0 earthquake hit the nearby Kuril Islands. “The expected wave heights are low, but you must still move away from the shore,” the ministry said on the Telegram messaging app, after the latest seismic activity in the area. However, the Pacific Tsunami Warning System in Hawaii said there was no tsunami warning after the quake. The Russian tsunami alert was later canceled. Overnight, the Krasheninnikov volcano in Kamchatka erupted for the first time in 600 years, Russia’s RIA
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