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Monday, July 10, 2006

Morning News 7.10/2006

Airbus orders were down more than 50% for January through June as the airplane builders product mix caused confusion about it wide-body product line. The European company said it sold 117 planes in the first half compared to 276 in the same period a year ago, according to Reuters.

Reuters also reports that TSMC in Taiwas, the world's largest contract chip market says that its sales were up 36% in June. New chips for consumer devices are driving the increases according to Reuters. Mobile phones and game consoles make up most of the increase. Taiwan Semiconductors also had a sharp increase of sales in Q2 rising 39%. Texas Instuments is one of TSCM's largest clients.

A French shareholder group has filed a class action suit against Airbus parent EADS. The group claims that EADS hid information about problems with the development of its A380 jumbo jet.

The Associated Press says that auto sale in China were up 37% in the first half. Shanghai GM, a joint venture set up with the US auto giant, moved into first place in market share. overtaking FAW Volkswagen. Shanghai GM says that its unit sales rose to nearly 202,000 units.

The AP sales that internet phone company SunRocket will introduce a calling plan that allows calls to about 35 countries for $25 a month. The drop in pricing indicates that a price war may be developing in the voice over IP market.

Douglas A. McIntyre

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