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May, 29, 2016

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Business
Economics officials said Thursday that the Asia Cement Co.'s mining project inside the Taroko National Park can be terminated next year as new Environment Minister Lee Ying-yuan (李應元) hopes, but the company's operations in the 417 hectares outside the park cannot be suspended without new legislation banning such activities.
 > Taiwan
 
New York transport hub opens
People walk the length of the World Trade Center Transportation Hub in New York, Thursday, May 26. The interior plaza of the Oculus, as it is called, is now fully open.
 
McAspirations
A McDonald's employee guides a girl through the beverage-making process during a promotional event for the fast food chain's "Mcdcamp," in which young participants can experience working in a McDonald's restaurant in Taipei on Friday, May 27. The chain is accepting applications starting June 1.
 > Taiwan
 
France's Alstom has filed a breach of contract suit against General Electric rooted in a dispute focused on Alstom's agreement to buy GE's rail signaling business two years ago, the companies confirmed Thursday.
 
The U.S. dollar fell against the New Taiwan dollar Friday, shedding NT$0.048 to close at NT$32.528 as foreign investors continued to move funds into the country, dealers said.
 
U.S. auto giant General Motors (GM) will recall more than two million vehicles produced through a joint venture in mainland China because of an engine component flaw, the firm and officials said.
 
Consumer confidence in Taiwan was haunted by weakness in the local economy in May, sending the country's consumer confidence index (CCI) to its lowest level in more than two years, according to National Central University (NCU).
 > Taiwan
 
Cabela's said it plans to outsource the design work for its catalog and advertising, but the outdoor gear seller says the move wasn't triggered by its ongoing strategic review.
 
Long-struggling retailer Sears says it plans to try to leverage its strongest brands like Kenmore and Craftsman to help sustain itself as it posted a larger first-quarter loss Thursday and said sales fell at its Kmart and namesake stores.
 
The embattled online media company Gawker Media has hired an investment banker to explore its options, including a possible sale.
 
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