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Taiwan News Morning Headlines - October 24

Taiwan News Morning Headlines  - October 24
TAIPEI (Taiwan News) – Market & Commodity ■ Taiwan stock market (TAIEX) opened lower at 8,364 points, down 29 points, or 0.4%, on turnover of NT$ 1.3 billion. ■ Stocks retreated from record highs Wednesday as investors focused on corporate earnings. The Dow Jones industrial average droped 54 points or 0.4% to 15,413, dragged by Caterpillar result. The S&P 500 lost 8 points or 0.5% to 1,746; the Nasdaq fell 0.6% to3,907. ■ The price of oil is the lowest since late June on ample U.S. supplies and poor demand. Crude for December delivery fell $1.44 to $96.86 a barrel in New York Wednesday. Oil has fallen 5 percent over the last week. ■ Gold futures fell on Wednesday. Gold for December delivery gave up $8.6, or 0.6%, to $1,334 an ounce on the New York Merchantile Exchange. Silver for December fell 17.3 cents to $22.6 an ounce. World Business News ■ Yahoo says it will shut down its office in Cairo at the end of this year, laying off all its local employees. The company said in a statement Wednesday it will close its offices in Cairo as part of its "global efforts to streamline operations. (AP) ■ Ford on Wednesday claimed that crown for its Focus compact during the first half of the year, based on registration data gathered by the R.L. Polk & Co. research firm. The Focus, according to Ford, saw a 20 percent sales increase over the first half of last year and beat the perennial No. 2 Toyota Corolla. (AP) Local News ■ Taiwan's industrial production index stood at 100.7 in September, up 1.06 percent from the same month last year, on the back of rising output in the manufacturing sector. (CNA) ■ The giant Rubber Duck that charmed crowds in Kaohsiung over the past month is about to land in Taoyuan, where the northern county's government has already begun offering tours to promote the unique pond-dotted landscape of its Xinwu Township ahead of its arrival.(CNA) ■ Tests on all edible oils that have good manufacturing practice (GMP) certification or are labeled as 100 percent pure will be completed in one week, Vice Economics Minister Duh Tyzz-jiun said Wednesday amid an edible oil scandal in Taiwan. (CNA) ■ The Ministry of Education (MOE) has revised upward the number of schools in Taiwan affected by the Tatung fraudulent oil scandal to 156, including 16 colleges. (Taiwan News) ■ Taiwan hopes to sign five mostly trade-related agreements with Japan by the end of this year, paving the way for talks to start on a free trade arrangement, according to the Ministry of Foreign Affairs. (Taiwan News)