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Japan’s Toshiba studies acquisition proposal by global fund

Associated Press

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Japan's Toshiba studies acquisition proposal by global fund

Trading in Toshiba stock was halted Wednesday after the Tokyo-based technology conglomerate confirmed it had received a preliminary acquisition proposal.

Toshiba Corp. said it had asked for more details on the proposal it had received on Tuesday, was giving it “careful consideration” and would make an announcement “in due course.”

Major Japanese newspaper Nikkei reported CVC Capital Partners was looking into acquiring the company for 2 trillion yen ($18 billion).

CVC is an international private equity and credit company, which has committed nearly $162 billion in funds, managing more than 300 investors. It declined to comment.

Toshiba, founded in 1875, was long revered as one of Japan’s most pristine brands, developing the nation’s first radar and microwaves, electric rice cookers and laptop computers. It also invented flash memory, the ubiquitous computer chips that store and retain data for digital cameras, cell phones and other gadgets. Toshiba no longer makes laptops and has sold its computer chips division.

In recent years it has been dogged by ethical questions and has been mired in scandals. In 2015, Toshiba acknowledged it had been systematically falsifying its books since 2008, as managers tried to meet overly ambitious targets. An outside investigation found profits had been inflated and massive expenses hidden.

It invested heavily in nuclear power. But after the March 2011 nuclear disaster in Fukushima, costs of the business ballooned because of growing safety concerns and a souring of sentiment toward nuclear power in countries like Germany.

After Toshiba had acquired Westinghouse in 2006 with much fanfare, the U.S. nuclear unit filed for bankruptcy protection in 2017.

Toshiba is now tasked with decommissioning nuclear plants in Japan, including the one in Fukushima, where critical tsunami damage set off reactor meltdowns.


TOKYO (AP) — By YURI KAGEYAMA

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The latest: vaccines to be made available at Alaska airports

Associated Press

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Alaska airports

JUNEAU, Alaska — Alaska Gov. Mike Dunleavy says COVID-19 vaccines would be made available at key airports in the state starting June 1.

He made the announcement Friday, as he unveiled plans aimed at bolstering Alaska’s pandemic-battered tourist industry.

Dunleavy, a Republican, outlined plans for a national marketing campaign aimed at luring tourists and said the vaccine offering is “probably another good reason to come to the state of Alaska in the summer.”

Dunleavy and other state leaders have been pushing to allow large cruise ships to return to Alaska after COVID-19 restrictions kept them away last year.

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2.7 million products on display at China’s digital Canton Trade Fair

Inside Telecom Staff

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Digital Canton Trade Fair

The China Import and Export Fair (Canton Fair) opened its 129th session on Wednesday, and what is its third digital exhibition. 260 thousand exhibitors present a record-breaking 2.7 million products across 16 categories, 82 thousand of which will be new products.

Exhibitors will showcase their products through cutting-edge digital presentations such as pictures, videos, 3D and livestreams, including 2,600 virtual reality showrooms and 137 online new product launches.

Xu Bing, spokesperson of the Canton Fair, noted that the 129th Canton Fair, built on the previous two digital sessions successfully held in 2020, has further optimized its digital platform to facilitate accessible and convenient business communication between suppliers and buyers.

“The Canton Fair has been promoting trade exchanges and stabilizing the global industrial supply chain over the years, and we hope the 129th session can contribute to China’s new development pattern where domestic and foreign markets can boost each other,” Xu said.

Canton, now known as Guangzhou, is the capital and most populous city in the province of Guangdong, which popularly called “the factory of the world.”

Located on the Pearl River about 120 km north-northwest of Hong Kong, Canton (Guangzhou) has a trade history of over 2,200 years and was historically the major trading terminus for the ancient, globalized Silk Road which traveled from China to the Mediterranean and southern Europe.

The metropolis continues in the modern era as a major port and transportation hub and is one of China’s three largest cities. 

This year’s Canton Fair brings functional improvements to enable efficient business matching, including leveraging resources in livestreams, allowing easy access to the Help Center, offering an upgraded Exhibitor Centre management tool, and providing an intelligent customer service system with multiple language support.

Aiming to provide buyers with an optimal experience throughout the grand online international trade event, the Fair is also embracing an inclusive participation with targeted market segment incentives and activities.

Focusing on China’s global “Belt and Road Initiative” and Regional Comprehensive Economic Partnership (RCEP) countries, the Canton Fair has been working closely with international business associations.

Forty-four exhibition virtual events hosted in 32 countries with topics covering promotion, matchmaking, and cooperation agreement signing, along with over 300 trainings for overseas buyers, email direct marketing and global partnership programs, will help global buyers understand their targeted industries and the product categories of interest which are showcased at the Canton Fair.

To allow buyers to do barrier-free business across borders, the Canton Fair is introducing a wide range of supporting services, such as professional settlements, financing to insurance, logistic support for transportation, inspection to quality certification, as well as online customs support and policy interpretation.

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Google Earth adds time lapse video to depict climate change

Associated Press

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Google Earth adds time lapse video to depict climate change

The Google Earth app is adding a new video feature that draws upon nearly four decades of satellite imagery to vividly illustrate how climate change has affected glaciers, beaches, forests and other places around the world.

The tool unveiled Thursday is rolling out in what is being billed as the biggest update to Google Earth in five years. Google says it undertook the complex project in partnership with several government agencies, including NASA in the U.S. and its European counterpart, in hopes that it will help a mass audience grasp the sometimes abstract concept of climate change in more tangible terms through its free Earth app.

Cornell University climate scientist Natalie Mahowald believes that mission may be accomplished.

“This is amazing,” she told The Associated Press after watching a preview of the new feature. “Trying to get people to understand the scope of the climate change and the land use problem is so difficult because of the long time and spatial scales. I would not be surprised if this one bit of software changes many people’s minds about the scale of the impact of humans on the environment.”

This isn’t the first time time-lapse satellite imagery has been used to demonstrate show how parts of the world are changing before our eyes due to a changing climate. Most scientists agree that climate change is being driven by pollution primarily produced by humans.

But earlier images have mostly focused on melting glaciers and haven’t been widely available on an already popular app like Google Earth, which can be downloaded on most of the more than 3 billion smartphones now in use around the world

Google is promising that people will be able to see a time lapse presentation of just about anywhere they want to search. The feature also includes a storytelling mode highlighting 800 different places on the planet in both 2D and 3D formats. Those videos also will be available on Google’s YouTube video site, a service more widely used than the Earth app.

The feature was created from 24 million satellite images taken every year from 1984 to 2020 and provided by NASA, the U.S. Geological Survey and the European Union, according to Google. The time lapse technology was created with the help of Carnegie Mellon University.

Google plans to update the time lapse imagery at least once a year.


SAN RAMON, Calif. (AP) — By MICHAEL LIEDTKE AP Technology Writer

AP Science Writer Seth Borenstein contributed to this story from Washington.

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