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Thursday, July 24, 2014
British drugmaker GlaxoSmithKline (GSK) on Wednesday slashed its 2014 profits forecast as second-quarter earnings sank on the back of weak U.S. trade, adverse currency moves and a Chinese bribery probe.
The Chinese-made smartphone Redmi Note (紅米Note) was recently revealed by a Hong Kong cellphone forum to automatically connect to a mainland Chinese server unbeknownst to users, prompting various concerns regarding personal information being leaked to the communist government.
Brokerage CLSA Ltd. has raised its price target for shares of industrial computer supplier Advantech Co. (研華科技) to NT$270 (US$9.02) from NT$210 after the company forged a robotics alliance with machine tool manufacturer Hiwin Technologies Corp. (上銀科技).
Local business revenues totaled NT$1.2337 trillion in June, representing a 4.1-percent growth, and marked the 10th consecutive month of growth, according to a report released by the Ministry of Economic Affairs (MOEA) yesterday.
With typhoon in town, department stores open late
Most department stores in Taiwan decided to open their doors a few hours later than normal on Wednesday as many parts of the island were still feeling the effects of Typhoon Matmo.
 > Taiwan
The strong growth in Taiwan's vehicle sales and production has recently prompted a research firm to upgrade its full-year growth forecast to 8.5 percent, from the previous minus 1.8 percent.
 > Taiwan
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TAITRA expects good results in Paraguay
Taiwan's main trade promotion body is expecting to “see good results” for Taiwanese exporters at the annual Expo Mariano Roque Alonso in Paraguay, which opened on July 12.
Bank of America Merrill Lynch kept its “buy” rating on shares of Taiwan Semiconductor Manufacturing Co. (TSMC,台積電), the world's largest contract chip-maker, despite fears the Taiwanese company may lose market share next year.
 > Taiwan
Taiwan's Acer Inc. (宏碁股份) replaced local rival Asustek Computer Inc. (華碩電腦) as the fourth-largest personal computer vendor in the Asia-Pacific region in the second quarter of 2014, according to research firm IDC.
 > Taiwan
Global stocks mostly rose Wednesday, bolstered by solid U.S. earnings and home sales as tensions between Russia and the West over Ukraine eased.
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