■INVESTMENT
Private investment robust
Private investment in Taiwan totaled NT$386 billion (US$ 12.2 billion) in the first quarter of the year, the Ministry of Economic Affairs said on Friday. The amount was 37.57 percent of the government’s full-year target of NT$1.272 trillion (US$43.1 billion), indicating that the nation is emerging from the shadow of the global financial crisis, the ministry said. Among the industries that saw growing investment, the green energy sector attracted NT$41.8 billion, amounting to 78 percent of the industry target for this year, the ministry said.
■BEVERAGES
Coke raises Innocent stake
US soft drinks giant Coca-Cola has taken a majority stake in fast-expanding British smoothie maker Innocent Drinks, but its founders said on Friday that they would maintain operational control. Coca-Cola increased its stake in Innocent to 58 percent, one year after taking an inital 18 percent share. Financial details of the latest deal were not revealed.
■CEMENT
Cemex to invest in Peru
Mexico’s Cemex, the world’s third-largest cement maker, said on Friday it would invest up to US$100 million in Peru to build a production plant with investment firm Blue Rock Cement Holdings. The new plant will have an initial capacity of 1 million tonnes of cement per year, a statement from the company’s headquarters in the northern city of Monterrey said. The company aims to complete construction of the US$230 million plant in early 2013.
■ICELAND
Official optimistic on loan
Finance Minister Steingrimur Sigfusson on Friday expressed optimism that the country would receive final approval for a crucial IMF loan payout, after an agreement was reached on its conditions. “I’m very optimistic that the path is clear and we will get the review,” Steingrimur Sigfusson said, adding that he expected “a unanimous decision” from the IMF board. The IMF and Iceland on Friday announced an agreement on the conditions for the controversial US$159 million IMF loan payment, which awaits IMF board approval.
■PUBLISHING
Fund buys ‘Reader’s Digest’
A management buy-out backed by an investment company has saved the British division of Reader’s Digest from administration, the deal’s organizers said on Friday. The British arm collapsed into administration on Feb. 17, six months after its US parent group filed for Chapter 11 bankruptcy, and almost 100 potential buyers had expressed interest to administrators. Better Capital Ltd said its BECAP fund had backed the buy-out in a transaction valued at £13 million (US$20 million). Managing director Chris Spratling will remain head of the company.
■TECHNOLOGY
Hiring practices probed
The US Department of Justice is investigating whether some of the biggest technology companies agreed not to recruit each others’ employees, violating antitrust laws, the Wall Street Journal reported on Friday. The investigation is looking into hiring practices at companies including Apple Inc, Google Inc, IAC/InterActiveCorp, International Business Machines and Intel Corp, the newspaper reported. In particular, the Justice Department is investigating whether computer engineers and other workers have missed opportunities to move to better-paying jobs because of these companies’ hiring practices, the newspaper said.
The popular Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) arbitrage trade might soon see a change in dynamics that could affect the trading of the US listing versus the local one. And for anyone who wants to monetize the elevated premium, Goldman Sachs Group Inc highlights potential trades. A note from the bank’s sales desk published on Friday said that demand for TSMC’s Taipei-traded stock could rise as Taiwan’s regulator is considering an amendment to local exchange-traded funds’ (ETFs) ownership. The changes, which could come in the first half of this year, could push up the current 30 percent single-stock weight limit
EARLY TALKS: Measures under consideration include convincing allies to match US curbs, further restricting exports of AI chips or GPUs, and blocking Chinese investments US President Donald Trump’s administration is sketching out tougher versions of US semiconductor curbs and pressuring key allies to escalate their restrictions on China’s chip industry, an early indication the new US president plans to expand efforts that began under former US president Joe Biden to limit Beijing’s technological prowess. Trump officials recently met with their Japanese and Dutch counterparts about restricting Tokyo Electron Ltd and ASML Holding NV engineers from maintaining semiconductor gear in China, people familiar with the matter said. The aim, which was also a priority for Biden, is to see key allies match China curbs the US
Teleperformance SE, the largest call-center operator in the world, is rolling out an artificial intelligence (AI) system that softens English-speaking Indian workers’ accents in real time in a move the company claims would make them more understandable. The technology, called accent translation, coupled with background noise cancelation, is being deployed in call centers in India, where workers provide customer support to some of Teleperformance’s international clients. The company provides outsourced customer support and content moderation to global companies including Apple Inc, ByteDance Ltd’s (字節跳動) TikTok and Samsung Electronics Co Ltd. “When you have an Indian agent on the line, sometimes it’s hard
‘SACRED MOUNTAIN’: The chipmaker can form joint ventures abroad, except in China, but like other firms, it needs government approval for large investments Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) needs government permission for any overseas joint ventures (JVs), but there are no restrictions on making the most advanced chips overseas other than for China, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. US media have said that TSMC, the world’s largest contract chipmaker and a major supplier to companies such as Apple Inc and Nvidia Corp, has been in talks for a stake in Intel Corp. Neither company has confirmed the talks, but US President Donald Trump has accused Taiwan of taking away the US’ semiconductor business and said he wants the industry back
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