Taiwan News Morning Headlines - January 15
Taiwan News
2014-01-15 09:03 AM
Market & Commodity

Taiwan stock market (TAIEX) opened higher at 8,567 points, up 19 points, or 0.23 percent, on turnover of NT$2.38 billion.

■ The U.S. stock market had its best day of the year as technology companies surged. The Dow Jones industrial average rose 115 points, or 0.7 percent, to close at 16,373 Tuesday. The Standard & Poor's 500 index rose 19 points, or 1.1 percent, to 1,838. The technology-heavy Nasdaq composite index rose 69 points, or 1.7 percent, to 4,183. (AP)

■ The price of U.S. crude oil is back above US$92 a barrel, while gold and other metals futures are lower. Benchmark crude oil for February delivery rose 79 cents to $92.59 a barrel in New York Tuesday. Gold for February delivery fell $5.70 to $1,245.40 an ounce. (AP)

World Business News

■ Boeing is confirming an incident with a battery on a Japan Airlines 787, in a reminder of the problems that grounded the plane for three months last year. Boeing says it appears that a single battery cell vented or released gas. It was discovered during scheduled maintenance on the ground at Tokyo's Narita airport on Tuesday. (AP)

■ Official figures show industrial output across the eurozone rose in November at the strongest monthly rate since May 2010, in the latest sign that growth across the region may be picking up. Eurostat says Tuesday that industrial output in the then 17-country eurozone rose by 1.8 percent compared with the previous month, ahead of market expectations. (AP)

■ General Motors says it sold 9.71 million cars and trucks last year. That's up 4 percent from a year ago, but probably not enough to beat Toyota for the global sales crown. (AP)

■ Drugmaker Merck & Co. is recalling a combination cholesterol drug, wiping out the entire U.S. stock, due to packaging defects that could reduce effectiveness. (AP)

■ French President Francois Hollande is promising to cut 50 billion euros ($68 billion) in public spending over the years 2015-2017 to try to improve public finances. (AP)

■ The Supreme Court has ruled unanimously that Mississippi can pursue claims of price-fixing against a Taiwanese manufacturer of LCD screens. The justices on Tuesday reversed a lower court ruling that blocked the state-court lawsuit against AU Optronics Corp. (AP)

■ Google is seeking to expand sales of its mainstay Moto X smartphone by offering it to buyers in Britain and Germany.

Motorola Mobility, owned by Google Inc., said Tuesday that the phone would reach consumers at the beginning of February. (AP)

Chinese officials say they are expecting citizens to make 3.6 billion trips during the Chinese New Year travel period that starts Thursday. (AP)

Local News

■ Democratic Progressive Party Chairman Su Tseng-chang said Tuesday there was no need for an immediate debate about the opposition's China policies. If China spent all its energy on trying to obstruct Taiwan, it would not only weaken Taiwan’s power but also its own, while allowing the world to see its lack of confidence, he said. (Taiwan News)

■ The Shilin District Prosecutors Office on Tuesday questioned Miaoli County Magistrate Liu Cheng-hung as a defendant in the case of his brother Liu Cheng-chih building a villa on state land in Yangmingshan and abuse of power. (Taiwan News)

■ The Legislative Yuan on Tuesday approved the central government budget for 2014, but it completely removed a NT$431,000 (US$14,000) year-end bonus for embattled Prosecutor-General Huang Shih-ming. (Taiwan News)

Ko Wen-je let loose another controversial comment Monday, this time directed at a possible KMT candidate for mayor of Taipei, Sean Lien. Ko quipped that Lien, who is now a member of the KMT Central Committee, enjoyed special medical treatment of a gunshot wound in November 2010. Former Vice President Annette Lu said that many of the things Ko says reveal his true inner feelings. (Taiwan News)

Taiwan had a good showing in this year's Index of Economic Freedom, ranking 17th worldwide and fifth in the Asia-Pacific with a score of 73.9 on the index, published by the Washington-based Heritage Foundation and the Wall Street Journal. (CNA)

■ The Taiwan External Trade Development Council (TAITRA) expressed optimism Tuesday over the country's economic outlook, saying that the global economy is expected to pick up in 2014. (CNA)

■ Lawmakers made wiretap warrants more difficult to obtain Tuesday by approving sweeping amendments to the country's wiretapping law, in a move criticized by the Ministry of Justice as having "a negative impact on crime-fighting." (CNA)

■ The Legislative Yuan's Discipline Committee will open a new investigation into the role of Democratic Progressive Party (DPP) whip Ker Chien-ming in alleged influence peddling, a case that nearly led to the dismissal of the legislative speaker. (CNA)

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