AFPIrish no-frills airline Ryanair, Europe’s largest airline, yesterday said that its first-quarter profit dropped by more than one-fifth on higher fuel costs and salaries for pilots. Profit after taxes slid 22 percent to 309.2 million euros (US$362.33 million) in the three months to the end of last month compared with the same period last year. The earnings update came as Ryanair faces strikes this week by some pilots and cabin crew, despite group efforts over the past few months to improve pay and conditions. The airline has canceled 600 flights in Europe that were due tomorrow and Thursday owing to strikes by cabin crews in Spain, Portugal and Belgium. “Despite signing pilot and cabin crew union recognition agreements in our major markets — the UK and Italy, and a recent agreement in Germany... progress has been slower in smaller markets,” Ryanair said.
July 23, 2018 15:56 UTC
With his second big-league save and first since August 2016, Shreve on Saturday preserved a 7-6 Subway Series victory that enabled Sonny Gray (7-7) to win consecutive starts for the first time since the Yankees acquired him last summer. Brewers reliever Josh Hader struck out four in two scoreless innings. Milwaukee rookie Corbin Burnes (1-0) picked up his first major-league win with two scoreless innings, bailing starter Chase Anderson out of a bases-loaded, none-out jam in the fifth. Verlander (10-5) yielded five hits while getting ample support in his third win over Los Angeles already this season. He has thrown 23 consecutive scoreless innings over his past three starts at Angel Stadium, including a five-hit shutout on May 16.
July 22, 2018 16:05 UTC
By Jason Pan / Staff reporter, with CNAAviation police on Friday seized a batch of synthetic cathinones, commonly known as “bath salts,” at Taiwan Taoyuan International Airport. Aviation police and airport customs officers found nine packets containing 9.065kg of a white powdery substance during an inspection at the Farglory imported cargo delivery zone. A man surnamed Hsiao (蕭) was arrested on Saturday by a special team from the bureau after he went to the delivery zone to collect the cargo, Chen said. Police searched Hsiao’s residence and found 10 parcels of synthetic cathinones, as well as cigarettes and tobacco mixed with the drug, he said. The special team is working to track down other suspects, Chen said.
July 22, 2018 16:05 UTC
The central bank said the decline reflected the decrease of housing deals in the nation’s six special municipalities, which fell 8.1 percent month-on-month and 7.9 percent year-on-year to 18,744 units. Mortgage rates are primarily tied to short-term rates, which have been kept unchanged by the central bank since September 2016. Outstanding foreign currency loans of all banks in Taiwan totaled NT$1.038 trillion in May, up NT$70 billion from April. As of the end of the first quarter, foreign currency interest spread stood at more than 2 percent amid the US Federal Reserve’s interest rate hike cycle. That was higher than most of its local rivals, which reported up to 15 percent of their loan books as foreign currency loans, market watchers said.
July 22, 2018 16:04 UTC
In its annual report the British fashion firm acknowledged that it had burned unsold clothes, accessories and perfume worth ￡28.6 million (US$37 million). More than one-third of the products destroyed were perfumes, which the company said was due to the rupture of its license with US fragrances manufacturer Coty Inc. “It is a widespread practice in the fashion industry, it’s commonplace,” said Arnaud Cadart, a portfolio manager at Flornoy & Associates who has previously followed the luxury industry as an analyst. He said very few luxury brands hold sales to get rid of stock and instead destroy unsold products. Guimberteau said a tenet of maintaining brand image is that exclusive products should be sold in exclusive distribution networks and that markets should not be flooded with end-of-season products.
Staff writer, with CNAMore than 20 percent of people with disabilities are in the nation’s labor force and there were 1.12 million people with mental or physical disabilities as of 2016, a Ministry of Health and Welfare survey showed. More 90 percent of those who could work were employed, the poll found. Of them, 21 percent worked in the manufacturing industry, while 14 percent worked in wholesale and retail businesses and 12.6 percent worked in the service industry, the survey showed. The average monthly wage for people with physical or mental disabilities was NT$25,939, an increase of 6.5 percent, or NT$1,599, from 2011, the poll showed. Disabled employees worked 37.9 hours a week on average, one hour less than in 2011, it showed.
AFP, LOS ANGELESA gunman on Saturday took hostages inside a supermarket in Los Angeles after a gunbattle with police, leaving a store employee dead before the suspect handcuffed himself and surrendered, police said. The gunman took “numerous victims, of citizens as well as store employees, hostage,” Moore said. During the earlier shootout the suspect was wounded in the arm, Los Angeles Mayor Eric Garcetti said. “The bullets were flying everywhere — through the front of the store and across the parking lot,” Kohles told the Los Angeles Times. The gunfire shattered the glass doors and the gunman ran inside and “down the middle aisle,” Kohles said.
By Chiang Chih-hsiung and Jonathan Chin / Staff reporter, with staff writerLumps of benign fatty tissue under the skin, or lipoma, could be a sign of high cholesterol, a doctor said on Saturday. The hospital treated a 21-year-old man, surnamed Lin (林), who suffered a myocardial infraction, Chen said. While walking to the barracks from a guard post, Lin suddenly had a chest pain and difficulty breathing, and nearly collapsed. The doctors performed emergency balloon valvuloplasty and placed stents, saving Lin’s life, Chen said, adding that Lin is still recovering and receives regular checkups. Examinations revealed that Lin had high levels of low-density lipoprotein in his blood, which exacerbated atherosclerosis progression and triggered the heart attack, he said.
By Yang Chin-cheng, Cheng Wei-chi, and Jake Chung / Staff reporters, with staff writerEighty-three-year-old Tainan resident Hsu Chiu-yueh (徐秋月) has obtained a heavy scooter license after finally passing a driving test last month. Hsu said although she has a car driver’s license and a scooter license, she usually rides a normal heavy scooter. The Road Traffic Security Rules (道路交通安全規則) classifies scooters by size, with small light scooters receiving white license plates and red lettering; normal light scooters, with green plate and white lettering; normal heavy scooters, with white plates and black lettering; and large heavy scooters, with yellow plates and black lettering. After passing a physical exam, Hsu failed her first and second attempts at the driving test. Department official Lee Chiu-chieh (李秋杰) said Hsu could be the oldest person in Taiwan to take a scooter driving test.
The committee in November 2016 identified Central Investment and its spinoff, Hsinyutai Co, as organizations affiliated with the KMT. Both companies’ assets have been frozen, the committee added. Central Investment’s assets include 33 plots of land, 29 buildings, bank savings of NT$87.66 million and stock worth NT$24.7 billion, including NT$410 million in privately listed company stock, the committee said. It also found that the KMT in 2012 bought 390,000 Hon Hai Precision Industry Co shares worth NT$33 million. While the office did not reveal the amount, sources said that Gou earlier this month pledged 850 Hon Hai shares worth about NT$60 million.
Staff writerOil refiner CPC Corp, Taiwan (CPC, 台灣中油) announced that it would today cut gasoline prices by NT$0.4 and diesel prices by NT$0.5 per liter to reflect the continued decline in international crude oil prices last week. The second straight week of price cuts reflected the still-weak market sentiment, which is due to a supply glut after Libya resumed its crude oil exports and because the US might ease sanctions on Iranian oil exports, CPC said in a statement. The average cost of its crude oil fell to US$71.1 per barrel last week from NT$74.31 a week earlier, the refiner said. After taking into account the New Taiwan dollar’s depreciation of NT$0.13 against the US dollar during the week, CPC said it decided to cut wholesale prices for its fuels by 3.13 percent. Sovico Holdings is a multi-sector holding company with a diversified portfolio, ranging from banking and finance to real estate, aviation, hospitality and industry.
What do you think could be done to facilitate the signing of an FTA between Taiwan and Thailand? Thongchai Chasawath: This matter concerns many political factors, so it is a bit tricky for us to sign an FTA with Taiwan. Despite the lack of an FTA with us, Taiwan can still take advantage of the platform provided by APEC or invest in Thailand. Taiwan recently extended its trial period of visa-free privileges for Thai nationals for another year. Another thing I want to point out is that the provision of visa-free privileges will inevitably have some downsides, such as illegal immigrants and undocumented workers.
Staff writer, with CNAAll four Taiwanese students taking part in the International Biology Olympiad in Iran won gold medals, putting the team in first place alongside China, the Ministry of Education said yesterday. In the individual category, Chen Yun-chen (陳允禎) of National Tainan First Senior High School finished in third place globally, which was the best performance by a Taiwanese student. Cheng Yu-chi (鄭育奇) of Taipei Municipal Jianguo High School finished fifth, while Lu Chen-yu (盧貞宇) of Kaohsiung Municipal Senior High School ranked seventh. The students were selected and trained by 20 teachers from National Sun Yat-sen University, the ministry said a statement. Taiwan has since 1999 ranked in the top five on average at the olympiad, and won four golds in 2008, 2010, 2011, 2014, 2016, last year and this year, the ministry said.
“This is significant for KKR because we’re returning to Taiwan,” Yang said. “China accounts for a significant portion of our Asian portfolio, but there’s greater scope to focus on Taiwanese opportunities. Global investors have faced challenges disposing of their holdings in Taiwanese companies in the past few years. The KKR-led consortium, which includes LCY employees and LCY founding family members, plans to help the Taipei-based firm expand in international markets through mergers and acquisitions. LCY has production plants in Taiwan, China and the US, the release said.
Staff writer, with CNAPresident Tsai Ing-wen (蔡英文) yesterday began a two-day tour of Taitung County to help promote tourism to the county and get a firsthand look at whether the needs of its Aboriginal population are being met. Aborigines account for about one-third of the county’s population. Tsai, who is also the Democratic Progressive Party (DPP) chairperson, was yesterday accompanied by Taitung County Commissioner Justin Huang (黃健庭) of the Chinese Nationalist Party (KMT), DPP Legislator Liu Chao-hao (劉櫂豪) — the party’s candidate for commissioner in the Nov. 24 nine-in-one-elections — and other officials. There has been speculation that the festival could be discontinued if Liu wins the election. Huang is not eligible to stand for re-election, as he is finishing his second term in office.