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January, 19, 2017

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Business > Company Focus
Davis, longtime CEO of US Bank, to retire
U.S. Bank Chairman and CEO Richard Davis announced Tuesday that he will retire from his job as head of one of the nation's largest regional banks.
 
TSMC 'facing triple threat' to revenue streams
Taiwan Semiconductor Manufacturing Company (TSMC) will be exposed to three major risks, including falling revenue from the 28nm and 16nm segments, according to a report Wednesday.
 
The impact of recent amendments to the Labor Act are already being felt by the hospitality industry, with 67 percent of restaurants reporting increased personnel costs, according to a 1111 Job Bank survey released Wednesday.
 
Taoyuan tire fire
An aerial view taken Wednesday, Jan. 18 shows the charred remains of Federal Corporation's (泰豐輪胎) tire factory in Zhongli District, Taoyuan City after a massive fire broke out Tuesday.
 
The New York Times said Tuesday it will be cutting its newsroom budget this year, but also investing US$5 million for covering the Trump administration as part of a strategic reorganization.
 
CSX Corp.'s fourth-quarter profit declined 2 percent as the railroad worked to limit its costs while shipping demand remained weak.
 
Hon Hai not to withdraw China investments
Hon Hai Precision Industry Co. (鴻海) Chairman Terry Gou (郭台銘) reportedly met with senior officials in China to assuage them over the firm's future in the country, after rumors of a manufacturing expansion to the U.S.
 
HSBC funding rainforest destruction: Greenpeace
Greenpeace on Tuesday accused banking giant HSBC of helping to arrange billions of dollars in financing for companies whose palm oil operations have been blamed for destroying vast swathes of Indonesian rainforest.
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Mining giant Rio Tinto reported Tuesday a ramp up in iron ore shipments on surging prices, but copper output disappointed amid production issues at its global mines.
 
GM to create 1,000 new jobs with US$1 billion investment
General Motors will announce a US$1 billion investment in its factories that will create or keep around 1,000 jobs, a person briefed on the matter said Monday.
 
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