Taiwan to Restrict Hostile Takeovers in Crowded Financial Sector
Taiwan regulators announced plans to effectively block hostile takeovers in the island's crowded financial sector, months after preventing a roughly $4.1 billion deal that would have created Taiwan's largest financial group.
The Financial Supervisory Commission will amend rules to close the door to non-consensual mergers and acquisitions to ensure market stability, it said in a statement late Tuesday. In the future, acquiring financial firms must get a board resolution from the target company indicating no objection, or show that they can secure a majority of shares or board seats to complete the acquisition, the FSC said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
5 minutes ago
- Bloomberg
India Plane Crash Inspection and Recovery Begins
India said that 8 of the 34 Boeing Co. 787 planes in the country have been inspected following the fatal crash of an Air India 787 Dreamliner on Thursday that killed all but one of the 242 people on board. (Source: Bloomberg)
Forbes
an hour ago
- Forbes
Toyota Chairman Claims Hybrids Are Cleaner Than EVs
Toyota's chairman Akio Toyoda claims that one electric car causes as much emissions as three hybrids. Let's check this bold statement out. The question of whether electric cars are more environmentally friendly than cars with combustion engines has long been resolved by scientists, who have concluded that the answer is unquestionably yes. Studies show that air pollution has decreased in cities with high EV adoption rates. However, the same old 'hybrid vs EV' debate keeps coming up, sometimes even from the top executives of the world's biggest automaker. Akio Toyoda said that nine million electric cars have the same pollution impact as 27 million hybrids in an April interview with Automotive News that went viral recently. According to him, one EV pollutes as much as three hybrids. The chairman also stated Toyota's goal to lower emissions using what the company refers to as a "multi-pathway" approach, which includes a variety of vehicle powertrains, including hybrids and plug-in hybrids, hydrogen-powered fuel cells, more efficient petrol engines and of course, EVs. "We have sold some 27 million hybrids. Those hybrids had the same impact as 9 million BEVs [battery EVs] on the road," Toyoda commented. "But if we were to have made 9 million BEVs in Japan, it would have actually increased the carbon emissions, not reduced them. That is because Japan relies on the thermal power plants for electricity.' Given that fossil fuels have typically been used to generate energy in Japan, it appears that Toyoda was explicitly referring to the emissions produced during production and charging in the country. Nonetheless, the proportion of renewable energy sources in the nation's energy mix has also been increasing recently. However, Toyoda's remarks were seized upon by numerous media sites, who used them as a "damning admission" to disparage EVs in general. So do EVs actually produce more emissions than hybrids over the course of their lifetimes? To be sure, comparing EVs to hybrids and plug-in hybrids (PHEVs) is more complex than comparing EVs to gas-powered vehicles. Battery consumption, driving habits, and the regional mix of electricity all play a part. But for clarity, let's dissect everything. Emissions produced during the extraction, refinement, and processing of the basic materials needed in high-voltage batteries are the main argument against EVs. Materials like lithium, cobalt, and nickel, which are used to make EV batteries, must be mined using risky, expensive water-intensive procedures. Therefore, an EV is already said to be "dirtier" than the typical gasoline or hybrid car when it leaves the factory. It has a larger "carbon debt," which is a term used by researchers to quantify the emissions that cars accumulate before they are even driven. Depending on the vehicle category, the production of gasoline and hybrid automobiles emits 6 to 9 metric tonnes of carbon dioxide, according to a study published in the scientific journal IOP Science. In contrast, EVs emit between 11 and 14 metric tonnes of CO2 before they are delivered to consumers. However, that is just a portion of the story. Once EVs are on the road, their total "emissions" start to drop quickly and they begin to pay off that carbon debt. Conversely, gasoline and hybrid cars go in the other way, increasing their carbon emissions with time. An EV may be able to pay off the loan completely after a specific amount of miles, where as a gasoline car will not. Who you ask will determine how long that takes. According to a 2023 study by Argonne National Laboratory, an electric car can take 19,500 miles to mitigate the emissions created during the manufacturing process. Meanwhile, says that this figure is less than two years of average American driving. According to another study in the journal Nature, carbon reductions start at about 28,000 miles. In any case, EVs eventually become the far cleaner choice over time given how long Americans retain their automobiles. It is possible however, to come up with scenarios where hybrids are cleaner than electric cars in certain conditions—but those cases are limited. The electric 6,800-pound Ford F-150 Lightning driving on the open road could be dirtier than a Toyota Prius that's driving at low speed for short distances, frequently recharging its battery, which gets juiced up by the engine and regenerative braking. But when you do a back-to-back comparison, EVs are cleaner than hybrids even when the source of electricity is fossil fuel. If we look at the Department of Energy's emissions calculator, which weighs up exhaust and grid emissions, a Tesla Model Y produces lower greenhouse gas emissions—149 grams of CO2 per mile—than a Toyota Prius Plug-In Hybrid—177 grams of CO2 per mile. Looking at another comparison in California, the Model Y, which only produces 80 grams of CO2 per mile is far cleaner than a Prius plug-in hybrid with around 130 grams per mile. Further reinforcing the EV vs hybrid case, an Institute of Physics (IOP) study also states that EVs break even with their hybrid counterparts in terms of lifecycle CO2 emissions within 2.2 to 2.4 years of operation. When Akio Toyoda stated that hybrids generate fewer emissions than EVs, he was arguably talking about a set of data in which all these above-mentioned factors were not fully taken into account—where grids are powered by emission-rich fossil fuels and hybrids are driven mostly in low-speed traffic where regenerative braking and the smaller batteries are under heavy load. Whatever his stance, the evidence appears to be there that, over time at least, EVs are cleaner than hybrids.
Yahoo
an hour ago
- Yahoo
Self-Driving Truck Startup Plus Goes Public In $1.2B SPAC Merger, Backed By Wall Street Titan Michael Klein And Hyundai
Plus Automation last week it would merge with special purpose acquisition company Churchill Capital Corp IX (NASDAQ:CCIX) that values the startup at $1.2 billion and brings $300 million in fresh capital for its push into autonomous trucking by 2027. According to Plus Automation, the merger provides the resources needed to scale its factory-integrated autonomous trucking model. After closing, the combined company will operate as PlusAI and prioritize deployment through its global original equipment manufacturer partnerships. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – Plus Automation is led by a founding team of Stanford-trained PhD engineers and seasoned tech entrepreneurs, each with a history of building and scaling innovation-focused companies. CEO David Liu, now on his fourth startup, brings a consistent track record of growth across prior ventures, reinforcing investor confidence in the company's ability to execute, Plus Automation says. Launched in 2016 from Silicon Valley, Plus Automation designed SuperDrive as an AI-based virtual driver for heavy-duty trucks. The company says that its system has already accumulated more than 5 million miles across the U.S., Europe, and Asia, forming a robust real-world dataset that underpins its neural-network engine. In April, SuperDrive hit a crucial driver-out safety milestone, signaling readiness for commercial deployment. According to Plus Automation, public road trials are active in Texas and Sweden, with broader fleet testing slated for fall. Trending: Invest where it hurts — and help millions heal:. Plus Automation's strategy leans heavily on factory integration rather than retrofitting existing trucks. That original equipment manufacturer-first model involves close collaboration with Hyundai, TRATON Group, and Iveco to produce SuperDrive-enabled trucks at scale, Plus Automation says. Churchill Capital Corp IX, led by veteran financier Michael Klein, will provide up to $300 million from its trust account to finance Plus Automation's next growth phase. Plus Automation says that this injection is expected to fully fund the startup through its 2027 commercial launch without requiring additional equity raises. The merger maintains a clean balance sheet for the combined entity and locks up existing Plus Automation shareholders for 180 to 360 days to reinforce long-term commitment. Plus Automation and its and Churchill IX's shareholders will hold one-vote shares to ensure governance European and U.S. trucking markets are valued at nearly $2 trillion, facing persistent shortages of around 300,000 drivers annually, the company says. Plus Automation plans to monetize via a per-mile "driver-as-a-service" model to generate high-margin recurring revenue. Physical AI solutions are gaining traction due to lighter regulations and growing demand for logistical efficiency. Dealer interest is rising as governments across the U.S. consider easing safety rules for heavy autonomous vehicles. California's Department of Motor Vehicles recently proposed testing heavy-duty self-driving trucks on public roads, marking an important regulatory shift. Closing is expected in the fourth quarter, pending shareholder approvals, Plus Automation says. Read Next: Here's what Americans think you need to be considered wealthy. Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Self-Driving Truck Startup Plus Goes Public In $1.2B SPAC Merger, Backed By Wall Street Titan Michael Klein And Hyundai originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
