■ SOFTWARE
Hurd may take Oracle post
Former Hewlett-Packard Co CEO Mark Hurd is in talks to take a top executive job at Oracle Corp, the database software maker run by his friend Larry Ellison, a person with direct knowledge of the discussions said. The person said on Sunday that Ellison, the only person to serve as Oracle’s CEO since he founded the company 33 years ago, wouldn’t be leaving that post, adding that the talks were not yet finalized. The possibility of Hurd landing at Oracle isn’t a surprise. Ellison was vocal in coming to Hurd’s defense after Hurd’s sudden resignation on Aug. 6 in the wake of a sexual harassment investigation.
■ AVIATION
BA-Iberia eyeing targets
British Airways (BA) and Iberia have identified 12 airlines as potential takeover targets once their own tie-up is finalized, as they bid to create the world’s biggest carrier, newspapers reported yesterday. “In our discussions with colleagues in Iberia we have looked at airlines around the world to identify those that would be attractive to IAG [International Airlines Group],” the Times quoted BA chief executive Willie Walsh as saying. Analysts said BA-Iberia could be interested in Qantas, Cathay Pacific, American, LAN and South African, the Times reported. BA and Iberia are expected to complete their merger by the end of this year, but will operate under their existing brands as part of a new London-based holding company called IAG.
■ FINANCE
Retail mall fund going well
ING Real Estate Investment Management, the world’s largest property asset manager, is close to completing the first round of raising money for its 1.5 billion euro (US$1.9 billion) European shopping-mall fund. Since announcing a plan to set up the European Shopping Centre Fund in March, ING has received pledges of about 500 million euros from pension funds, insurers and other money managers, Pieter Hendrikse, its European chief, said in an interview last week in Amsterdam. ING’s fund aims to deliver an annual investment return of about 11 percent by boosting building values and income generation through better management, Hendrikse said.
■ AUTOMOBILES
UK auto sales dip 17.5%
Sales of new cars in Britain dropped 17.5 percent last month from a year ago, falling for the second consecutive month following the end of an incentive scheme to scrap old models, the Society of Motor Manufacturers and Traders said yesterday. The market will remain tough for the rest of the year, the association said, but it forecast that registrations this year would total 2 million, up 1.2 percent from last year. Jointly funded by the government and industry, the scrappage scheme offered motorists £2,000 (US$3,000) to trade in cars more than a decade old for more fuel efficient methods. The association said 55,305 vehicles were sold last month. The Ford Fiesta was the best-selling model last month and year to date.
■BONDS
Banks boost risk holdings
Banks increased their holdings of Greek, Irish, Portuguese and Spanish debt in the first quarter even as the sovereign crisis roiled credit markets, the Bank for International Settlements (BIS) said. Banks boosted the amount they had at risk to the nations by US$109 billion to US$2.6 trillion, the Basel, Switzerland-based BIS said in its latest quarterly report. Banks in euro-zone countries held the greatest share of bonds from the four countries and Italy, the BIS said.
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
‘EXTREME PRESSURE’: Beijing’s goal is to ‘force Taiwan to make mistakes,’ Admiral Tang Hua said, adding that mishaps could serve as ‘excuses’ for launching a blockade China’s authoritarian expansionism threatens not only Taiwan, but the rules-based international order, the navy said yesterday, after its top commander said in an interview that the Chinese People’s Liberation Army (PLA) could blockade the nation at will. The object of Beijing’s expansionist activities is not limited to Taiwan and its use of pressure is not confined to specific political groups or people, the navy said in a statement. China utilizes a mixture of cognitive warfare and “gray zone” military activities to pressure Taiwan, the navy said, adding that PLA sea and air forces are compressing the nation’s defensive depth. The navy continues to
MISSILE MISSION: The Chungshan Institute of Science and Technology said it does not make policy, but would be glad to obtain certification to assemble the missiles The Ministry of National Defense-affiliated Chungshan Institute of Science and Technology is in the process of getting certified to assemble an additional 1,985 Stinger missiles on top of those from US arms sales, a senior defense official said yesterday. Washington is to send a team to Taiwan to evaluate the institute’s manufacturing capabilities and information security, said the official, who commented on condition of anonymity. The ministry initially bought 500 missiles for the army and navy, but later increased the order to 2,485 in response to an increase in Beijing’s military activities around the nation, and to meet the army’s urgent need
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