“Beijing Automotive joins Koenigsegg's bid for Saab - Detroit News” plus 4 more

Beijing Automotive joins Koenigsegg's bid for Saab - Detroit News
What Will the Car of the Future Look Like? Delphi Highlights ... - WebWire
Missouri auto task force releases recommendations - MSN Money
Beijing Automotive joins Koenigsegg's bid for Saab - Detroit Free Press
China’s Geely, Beijing Automotive Target Volvo, Saab (Correct) - Bloomberg

Beijing Automotive joins Koenigsegg's bid for Saab - Detroit News

Posted: 09 Sep 2009 10:03 PM PDT

GM bought the Swedish unit in 1990, but never turned a profit

Niklas Magnusson and Toby Alder / Bloomberg News

Beijing Automotive Industry Holdings Co. Ltd., the fastest-growing car manufacturer in China, joined Koenigsegg Group's offer to buy Saab Automobile from General Motors Co. to propel model development and sales growth.

Beijing Automotive will become a minority shareholder in the team bidding for Trollhaettan, Sweden-based Saab and help the unprofitable GM division find opportunities to expand in China and other markets abroad, the group, set up by sports-car maker Koenigsegg Automotive AB, said in a statement Wednesday.

Chinese carmakers have been looking at investing in Europe to gain sales and technology.

Geely Automobile Holdings Ltd. said Tuesday that its parent is involved in a possible bid to buy all of Ford Motor Co.'s Volvo Cars unit in Sweden.

Beijing Automotive, which had also expressed interest in GM's Opel and Vauxhall brands, may start sharing technology with Saab, said Christian von Koenigsegg, the sports-car company's founder.

"Wherever synergies can be found that are beneficial to both parties, they should be looked upon, and I'm sure we can find a lot of good mutual benefits in the future," von Koenigsegg said in a telephone interview. "We plan to utilize the distribution channels given by BAIC in China."

China's gross domestic product may increase 9.5 percent in 2010 after an 8.3 percent gain in 2009, according to a Bloomberg survey of 22 economists conducted the week ending Aug. 28. Full-year vehicle sales in China, the world's most populous nation, may rise 28 percent to as many as 12 million units, the country's top planning agency said Sept. 5.

Saab sold fewer than 100,000 cars worldwide last year. Beijing Automotive forecasts it will deliver 1.13 million vehicles in 2009, according to Koenigsegg. China is bigger than the U.S. and Japan together and Saab has no presence there at all.

Saab would retain production in Sweden, while it may follow other automakers in building assembly lines or starting partial production in China to avoid tariffs on imported vehicles, von Koenigsegg said. The Trollhaettan plant's production capacity is 200,000 cars a year, he said.

GM sought a buyer for Saab when the Swedish unit, which has been unprofitable for most of the two decades that the Detroit-based company has owned it, was granted protection from creditors in February.

GM reached an agreement in June to sell the division to Aengelholm, Sweden-based Koenigsegg.

The bidding group is led by Augie Fabela, a U.S.-based co- founder of OAO VimpelCom, Russia's second-largest mobile-phone company. In addition to closely held Koenigsegg Automotive, the 15-year-old maker of the $1.2 million CCXR high-performance sports car, the team includes Baard Eker, a Norwegian industrial-design entrepreneur.

Saab said Tuesday that Koenigsegg had raised the funds needed for the purchase after a new investor helped fill a $400 million financing gap. Completion of the sale to the Koenigsegg team is tied to Saab getting $600 million in funding from the European Investment Bank backed by Swedish state guarantees, as well as transitional assistance from GM.

"China is a big market and previous partnerships with Chinese companies have been good experiences," Swedish Industry Minister Maud Olofsson told reporters in Stockholm. "We will make a strict assessment of the business plan for the Koenigsegg transaction."

The GM division traces its origins to Svenska Aeroplan AB, an aircraft maker founded in 1937. The aerospace company, which builds the Gripen fighter jet, is now a separate corporation known as Saab AB after GM took over the car making operations in two stages starting in 1990.

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What Will the Car of the Future Look Like? Delphi Highlights ... - WebWire

Posted: 09 Sep 2009 12:23 PM PDT

Leading automotive supplier shares vision on technologies that are shaping the future

Paris, France - In advance of the 2009 edition of the IAA International Motor Show in Frankfurt (Germany), Delphi Corporation (PINKSHEETS: DPHIQ), a leading global automotive supplier highlights green technologies that will equip the car of the future. To help address global fuel conservation efforts and increasing concerns about global warming, car makers are accelerating the introduction of technologies that reduce fuel consumption and cut emissions of all pollutants. By leveraging its rich heritage and extensive technical knowledge, Delphi provides robust solutions to complex challenges, helping car makers develop vehicles that offer enhanced performance and reduced emissions. For further information on any of the technologies mentioned below, interviews with Delphi subject matter experts can be scheduled upon request.

* Power Electronics
Delphi designed and manufactured the major electronic and electrical components of the first modern electric vehicle in the early 90s. The company remains committed to developing innovative hybrid electric vehicle technologies that will increase fuel economy, reduce emissions and help make hybrid vehicles an appealing choice for consumers. Delphi inverters, DC/DC converters, controllers, energy storage systems and stop/start systems are helping to make HEVs a more popular choice by providing peak performance, resolving packaging challenges and lowering cost. Delphi innovation will soon include integrated Power Electronics and Lithium-ion (Li-ion) energy storage systems to be offered to vehicle manufacturers.

Delphi power electronics are currently on the road in the Ford Fusion, Ford Escape, GM Tahoe and Cadillac Escalade. With the growth in hybrid vehicle popularity, these products will appear on more vehicles globally.

* Integrated Inverter, DC/DC Converter, Controller System
Todays hybrid and electric vehicles require an inverter to manage power requirements for propulsion, a controller to intelligently control multiple functions, and a DC/DC Converter to manage voltage between the battery pack and the vehicle accessory systems. The integration of these products into a single unit coupled with Delphis patented power silicon ICs will result in the same high performance and high reliability as the individual components while lowering cost and reducing mass.

Expected on the roads: Delphis integrated power electronics systems are expected on the road as early as 2010.

* Lithium-ion Energy Storage Systems
Delphis hybrid energy storage systems are designed to meet specific customer requirements for energy and performance. The systems monitor and control high-voltage contactors within the bussed electrical center to maintain occupant safety, as well as calculate battery state-of-charge (SOC) and available power to the vehicles energy system controller. These systems also maintain the health of the battery cells by monitoring and managing voltage, current and temperature while improving their performance and life. Currently, nickel-metal hydride (NiMH) battery packs pervade the market, but Li-ion batteries will soon displace them as they reach cost parity. Li-ion batteries have higher energy density, weigh less and can be charged/discharged more often without the degradation seen in other rechargeables. They also have a lower self-discharge rate so they retain their charge longer.

NiMH energy storage systems are currently available on the Ford Fusion and Ford Escape. Li-ion systems will be introduced in the market as early as 2010.

* Revolutionary Direct Acting Diesel Fuel Injection System
The Direct Acting Common Rail (CR) from Delphi represents a radical break-through in diesel injection technology as, for the first time, the injector needle is directly activated by the piezo stack, removing the hydraulic circuit and its associated lag and energy consumption. This change enables vehicle manufacturers to comply with future emission legislations while providing more power and uncompromised fuel economy.

This technology is currently available and was launched as a world premiere on the Mercedes C-Class in 2008.

* Spray-Stratified Gasoline Direct Injection with Multec 20 injector
The new spray-stratified gasoline direct injection (GDi) system from Delphi reduces CO2 emissions at significantly lower costs than traditional systems. With solenoid technology that delivers outstanding spray performance, Delphis spray stratified GDi system improves fuel economy while reducing engine noise and harmful emissions. Spray stratified GDi, also known as "lean" burn GDi, uses less fuel by creating a stratified charge with a stoichiometric air-fuel ratio near the spark plug with no fuel outside the mixture plume in the remainder of the chamber. The Multec 20 injector delivers the performance needed for premium engines at a significantly lower cost than conventional piezo technology. This technology is helping manufacturers meet more stringent future CO2 standards by improving engine efficiency and is ethanol compatible while helping reduce engine noise.

Expected on the roads: In development for production in 2012.

* Multec Homogeneous GDi Fuel Injector
with its multi-hole spray generator enables optimum charge distribution for more efficient combustion. The system delivers more precise fuel injection for a "cleaner" engine and its an enabler for boosting and downsizing a key strategy for reducing fuel consumption and helping OEMs meet future standards.

Expected on the roads: Homogeneous GDi is in development for production in 2010.

* High efficiency fuel pumps
are designed to require a lower electrical load which can help reduce CO2 emissions. Delphis new brushless fuel pump technology features a unique pump motor architecture with lower internal resistance to help reduce CO2 emissions even more.

Delphis high efficiency fuel pumps are currently in production, with brushless technology in development for production in 2012.

* Automotive ammonia sensor
New technology allows closed loop control of Selective Catalytic Reduction (SCR) systems, reducing NOx. and helping diesel owners save money. Delphi has developed the worlds first automotive ammonia sensor. By directly measuring tailpipe ammonia, the sensor allows the injection of urea (an ammonia rich compound required by the SCR system) to be optimized and ammonia emissions reduced.

Control of urea injection is expected to become a rapidly increasing priority as SCR levels increase to meet new emissions regulations in both light and heavy duty diesel markets.

* Solid Oxide Fuel Cell Auxiliary Power Unit
is a high-efficiency electrochemical generator that provides up to 5 kW of reliable, environmentally friendly electrical power for a wide range of transportation and stationary uses. This ultra-cleannear zero emissionspower generation source operates independent of the main engine. In addition to its high fuel-efficiency, it also offers fuel flexibility and low noise.

Expected on the roads: This SOFC Power Unit is in development for production in 2012.

* Advanced electrical/electronic architecture
Delphi is currently working on electrical/electronic architecture technology to reduce bundle sizes, lower mass, and make use of advanced automation processes to enable smaller gage cables. Advanced products such as aluminum cable, Ultra-Thin-Wall Halogen-Free Cable, high conductivity alloys and miniaturized components such as waferized connectors all help automakers deliver more functionality without requiring more space. By reducing mass, many of these advancements also help reduce CO2 emissions and improve fuel economy and will continue to do so long into the future.

Expected on the roads: Many of the technologies are available today. Advanced electrical/electronic architecture systems are expected on future vehicles in the coming years. Aluminium cable is expected to be introduced early in the next decade. Ultra-Thin-Wall Halogen Free Cable is already on the roads.

* Electrical/electronic architecture for hybrid vehicles
Hybrid vehicles have rigorous power requirements and demand robust component performance in a challenging environment. Understanding the needs and requirements of these systems allows Delphi to propose the right combination of standard components and customized architectures for each hybrid application. A number of complex factors in the electrical system must be addressed and engineered for reliability and peak performance to keep drivers safe in high-power environments.

As vehicles of the future begin to rely more on hybrid solutions, Delphi is prepared to support automakers with the proliferation of this technology.

* Halogen-free ultra-thin-wall cable
A new, highly-durable automotive cable with significantly lighter and thinner insulation than traditional cable, the Halogen-Free Cable, a recyclable and environmentally-friendly product, is free of dangerous halogens and offers excellent pinch resistance, nearly double that of traditional cable, and outstanding abrasion resistance. The use of this advanced cable also leads to size and weight reductions in the cable that, in turn, results in lower fuel consumption and reduced CO2 emissions.

Expected on the roads: After making its debut on the 2007 Toyota Tundra, Delphi Halogen-Free Ultra-Thin-Wall Cable is now being produced for multiple vehicles from three major automakers. It is an environmentally responsible alternative to conventional cable such as polyvinyl chloride (PVC) and cross-linked polyethylene (XLPE).

* Battery Monitoring Device
As automakers and drivers heighten their focus on fuel economy and concern for the environment, Delphi expects to experience a growing demand for its Battery Monitoring Device, an electric innovation that calculates the battery state of health (SOH) and state of charge (SOC) and alerts drivers to the need to replace or charge the battery. The device helps ensure optimal battery performance, making more electronic features possible while ensuring sufficient power for starting the engine. When integrated into a vehicle as part of active energy management system, the Delphi Battery Monitoring Device can also help improve fuel efficiency and extend battery life.

Expected on the roads: 2011

* Use of phase change materials (PCMs) to cool or warm hybrid cars
Phase change materials (PCMs) are ideal for use in hybrid vehicles or vehicles with start-stop capability. Delphi has developed a unique solution that integrates PCM into current heat-exchanger technology, using existing packaging space. This "Thermal Storage" system with PCM enables a hybrid vehicle to store excess thermal energy while the engine is running and then releases this energy during engine off idle stops to maintain comfort in the car. Use of PCMs allow hybrid vehicles to turn the engine off while the vehicle is stopped, greatly improving fuel economy, without sacrificing occupant comfort. Similar technology is used in warehouses where PCM material is charged in the evening (when the electric rate is low) and then used to cool the interior of a building during the day (when the electric rate is high). Thermal Storage systems with PCM allow hybrid vehicles to be more efficient and keep vehicle comfort more consistent.

Expected on the roads: PCM thermal storage may be available starting in 2012.

* Internal Heat Exchanger
Delphis counter-flow, tube-in-tube heat exchanger transfers the refrigerant from the evaporator outlet back over the refrigerant headed to the evaporator. The refrigerant then returns to the compressor. The system efficiency is increased by providing supercooled liquid to the evaporator. Concurrently, the compressors efficiency is increased by the consistent supply of superheated refrigerant and by maintaining the evaporator close to saturation. This is important to the car of the future as it enables the increased capacity required for the new alternative refrigerant R-1234yf along with the simultaneously increased energy efficiency.

Expected on the road: Delphis Internal heat exchanger technology will help improve energy efficiency starting in 2011.

* Liquid Cooled Charge Air Cooler (LCCAC)
Delphi is developing a LCCAC portfolio to add to its industry-leading Air-To-Air Charge Air Cooler portfolio. After the air compression process that occurs in a turbo- or super-charged engine, cooling the engine intake air with a coolant-to-air heat exchanger offers many benefits over conventional air-to-air charge air coolers. The flexibility of Delphis LCCACs designs allows the coolers to be incorporated into the ducting between the forced induction device and the engine or integrated into the intake manifold, minimizing the under-hood packaging impact and the air-pressure losses through the cooler. LCCACs eliminate the large diameter elastomeric tubing used to route the charge air to the air-to-air charge cooler and the large diameter connectors that can lead to warranty problems. Engine response time during acceleration is improved because of the smaller volume of air between the induction device and engine and the high-transient thermal capacity of the liquid cooled system. This higher thermal capacity also helps to limit NOx peaks during transient driving conditions by maintaining cooler inlet air temperatures. For cold starts, coolant flow can be limited to increase engine warm-up rate and reduce the time for the catalytic converter to reach lightoff temperatures. During partial load conditions, coolant flow can also be limited to reduce air density allowing a greater opening of the throttle valve, which helps to reduce engine-pumping losses. Additionally, Delphis wide array of heat exchangers can be modified to fit any size engine allowing for greater automaker flexibility and packaging.

Expected on the roads: Delphis innovative LCCAC is expected on the roads in 2011.

Innovation for the Real World
Delphi brings the power of innovation to a wide range of products and services that add value for car makers and car drivers alike. From vehicle components and systems to medical devices and beyond, Delphi delivers real-world innovations that help make products smarter, safer, more powerful, and much more valuable.

For more information about Delphi Corp. (PINKSHEETS: DPHIQ), visit www.delphi.com.

FORWARD-LOOKING STATEMENTS
This press release as well as other statements made by Delphi may contain forward-looking statements that reflect, when made, the Companys current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Companys operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as "may" "might" "will" "should" "expects" "plans" "anticipates" "believes" "estimates" "predicts" "potential" or "continue" the negative of these terms and other comparable terminology. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of the liquidity support agreements with GM, its debtor-in-possession financing facility and the related accommodation agreement, and to obtain an extension of term or other amendments as necessary to maintain access to such liquidity support agreements and facility; the Companys ability to obtain Court approval with respect to motions in the Chapter 11 cases prosecuted by it from time to time, and to consummate the Modified Plan or any subsequently filed plan of reorganization and to consummate such plan or other consensual resolution of Delphis Chapter 11 cases; risks associated with third parties seeking and obtaining Court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a Chapter 11 trustee or to convert the cases to Chapter 7 cases; the ability of the Company to obtain and maintain normal terms with vendors and service providers; the Companys ability to maintain contracts that are critical to its operations; the potential adverse impact of the Chapter 11 cases on the Companys liquidity or results of operations; the ability of the Company to fund and execute its business plan as described in the Modified Plan as filed with the bankruptcy court and to do so in a timely manner; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees or those of its principal customers and the ability of the Company to attract and retain customers. Additional factors that could affect future results are identified in the Annual, including the risk factors in Part I. Item 1A. Risk Factors contained therein and in Part II. Item 1A. Risk Factors in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2009. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise. Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Companys various prepetition liabilities, common stock and/or other equity securities. Under the Modified Plan confirmed by the Court on July 30, 2009, holders of Delphis common stock will receive no value.

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Missouri auto task force releases recommendations - MSN Money

Posted: 09 Sep 2009 03:08 PM PDT

By DAVID TWIDDY

CLAYCOMO, Mo. (AP) - A state panel said Wednesday that Missouri must do more to make sure it doesn't get left behind as the automotive industry moves toward more energy-efficient vehicles and the development of alternative energy sources, such as biofuels or power cells.

The 27-page report from the Missouri Automotive Jobs Task Force makes a number of recommendations, including expanding economic incentives for automakers looking to switch over to building newer vehicles or diversifying their production, providing training on the new technology for Missouri autoworkers and encouraging local governments and consumers to buy more of the vehicles to improve the overall market.

The group said taking those steps could both create new jobs in Missouri and retain highly skilled workers who might otherwise leave for other states as their jobs disappear.

"These experts have concluded that while our automotive industry has faced stiff challenges in recent years we have the people and facilities for significant growth in the years to come, especially as America's automakers ramp up production of 'green' vehicles," Gov. Jay Nixon said as he unveiled the task force's report at the Ford Motor Co.'s Kansas City Assembly Plant in Claycomo.

The Claycomo plant builds gas-electric hybrid versions of the Escape and Mercury Mariner models. Last month, Ford said it was adding a third shift to boost production of the popular Escape.

Overall, the industry generates $4 billion for the state's economy and employs about 25,000 people, ranking Missouri eighth in the nation for automotive employment.

That work force has shrunk 35 percent since 2004, Nixon said, including the closing over the past two years of Chrysler LLC's two plants in suburban St. Louis. But the governor said he and the task force members believe the industry can still rebound and grow in the state.

Nixon appointed the 21-member automotive task force immediately after he was inaugurated in January.

Among the task force's suggestions:

_Provide matching-dollar incentives that would attract federal funding for alternative fuel research by universities, private researchers or companies.

_Conduct a study to determine what resources would be needed along state highways to accommodate next-generation vehicles, such as power stations for plug-in vehicles.

_Work with banks to provide special loan programs for consumers to buy or lease next-generation vehicles made in Missouri and provide incentives similar to the federal "Cash for Clunkers" program to encourage trade-ins of older vehicles.

_Create economic incentive programs to offset the large cost of retooling an existing plant with new technology. While the state has similar programs for attracting large manufacturers, this program would encourage existing manufacturers to remain. Also, the state could help foster the development of "supplier parks," where automotive suppliers are located together near a manufacturing plant.

_Help find new uses of vacant automotive plants and facilities.

Don Nissanka, president of Lee's Summit-based electric battery maker Kokam America Inc. and a task force member, said incentives for Missouri companies are key to the state remaining competitive.

"The future of the automotive industry is going to be either a hybrid system or a full electric system, and unless we start making the changes to get to that level I would say that there are going to be some challenges for anybody to survive," said Nissanka, whose company in April picked Midland, Mich., over Lee's Summit for a new $650 million plant because of incentives there.

He added that Kokam is seeking federal grants for a similar plant in Lee's Summit.

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Beijing Automotive joins Koenigsegg's bid for Saab - Detroit Free Press

Posted: 10 Sep 2009 12:26 AM PDT

Beijing Automotive Industry Holdings Co. Ltd., China's fastest-growing carmaker, joined Koenigsegg Group's offer to buy Saab Automobile from General Motors Co. in an effort to propel sales and model development.

Beijing Automotive will take a minority stake in the team bidding for Trollhattan, Sweden-based Saab and help the unprofitable GM division find opportunities to expand in China, the group, set up by Swedish sports-car maker Koenigsegg Automotive AB, said in a statement.

Chinese carmakers have been looking at investing in Europe to bolster deliveries and know-how. Geely Automobile Holdings Ltd. said Tuesday that its parent is involved in a possible bid to buy Ford Motor Co.'s Volvo Cars division in Sweden. Beijing Automotive, a former suitor for GM's Opel and Vauxhall units, may share technology with Saab and offer some plant capacity, said Christian von Koenigsegg, the sports-car company's founder.

"This is a significant improvement of the proposal" for Saab because Beijing Automotive can contribute the manufacturing scale that Koenigsegg lacks, Christer Karlsson, a professor at the Copenhagen Business School, said by phone. "The Chinese companies ... need to get bigger."

GM decided to dispose of Saab in February as part of a European reorganization. The Swedish unit has been unprofitable for most of the two decades that Detroit-based GM has owned it. The division exited protection from creditors in mid-August after six months following an agreement with lenders to write down debt by 75%. The U.S. company reached an agreement to sell Saab to Aengelholm-based Koenigsegg in June.

Big opportunities

Saab sold fewer than 100,000 vehicles worldwide last year. Koenigsegg Automotive's models include the $1.2-million CCXR, which can run on biofuels, and the CCX, which costs $1 million and can approach speeds of 250 m.p.h. Its deliveries amounted to fewer than 20 cars in 2008.

Beijing Automotive, which has partnerships in its home market with South Korea's Hyundai Motor Co. and Stuttgart, Germany-based Daimler AG, sold 582,215 vehicles in the first half. The company, which was rejected as a bidder for Opel in July, is targeting 1.13 million deliveries in 2009.

Gross domestic product in China may increase 9.5% in 2010 after an 8.3% gain in 2009, according to a Bloomberg survey of 22 economists conducted the week ending Aug. 28. Full-year vehicle sales in the country, the world's most populous, may rise 28% to as many as 12 million units, the government's top planning agency said last week.

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China’s Geely, Beijing Automotive Target Volvo, Saab (Correct) - Bloomberg

Posted: 10 Sep 2009 12:19 AM PDT

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4. License. (i) You acquire absolutely no rights or licenses in or to the Service and materials contained within the Service other than the limited right to utilize the Service in accordance with the TOS. Should you choose to download content from the Service, you must do so in accordance with the TOS. Such download is licensed to you by Bloomberg ONLY for your own personal, noncommercial use in accordance with the TOS and does not transfer any other rights to you.

(ii) If you submit material to this site or to BLP or its representative, unless BLP indicates otherwise, you grant Bloomberg a nonexclusive, royalty-free, perpetual, irrevocable, and fully sublicensable right to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, copy, and display such content throughout the world in any form, media, or technology now known or hereafter developed. You also permit any other user to access, store, or reproduce such material for that user's personal use. You grant Bloomberg the right to use the name that you submit in connection with such content. You represent and warrant that you own or otherwise control all of the rights to the material that you submit; that the material you submit is truthful and accurate; that use of the material you supply does not violate this TOS and will not cause injury to any person or entity; and that you will indemnify Bloomberg and its Suppliers, agents, directors, officers, employees, representatives, successors, and assigns for all claims resulting from material you supply. Bloomberg and its Suppliers, agents, directors, officers, employees, representatives, successors, and assigns disclaim any responsibility and assume no liability for any material submitted by you or any third party.

5. Fees and Payments. BLP reserves the right at any time to charge fees for access to portions of the Service or the Service as a whole. If at any time BLP requires a fee for portions of the Service or the Service as a whole, BLP will require you to register and create an account. You shall pay all fees and charges incurred through your account at the rates in effect for the billing period in which such fees and charges are incurred, including but not limited to charges for any products or services offered for sale through the Service by Bloomberg or by any other vendor or service provider. All fees and charges shall be billed to you, and you shall be solely responsible for their payment. You shall pay all applicable taxes relating to the use of the Service through your account, and the purchase of any other products or services. Certain portions of the Service or the Service as a whole may require a prepaid fee ("Prepaid Fee"), which may be modified from time to time in BLP's sole discretion. The Prepaid Fee, and all taxes and other fees related thereto will be paid by you in advance. In no event will you receive any portions of the Service or the Service as a whole if a Prepaid Fee is required unless BLP receives all fees and charges payable by you, including the Prepaid Fee.
6. Registration and Account Creation.

As part of the registration and account creation process necessary to obtain access to certain portions of the Service, including those portions that require a fee or payment for access, you will select a username and a password. You will provide BLP with certain registration information, all of which must be accurate, truthful, and updated. You shall not: (i) select a username already used by another person; (ii) use a username in which another person has rights without such person's authorization; or (iii) use a username or password that BLP, in its sole discretion, deems offensive or inappropriate. BLP reserves the right to deny creation of your account based on BLP's inability to verify the authenticity of your registration information. You shall be solely responsible for maintaining the confidentiality of your password. You shall immediately notify BLP by submitting FEEDBACK of any known or suspected unauthorized use(s) of your account, or any known or suspected breach of security, including loss, theft, or unauthorized disclosure of your password or credit card information. You are fully responsible for all usage and activity on your account, including, but not limited to, use of the account by any third party authorized by you to use your username and password. The use of your account by any individual under age eighteen (18) is strictly prohibited. If the computer system on which you accessed the Service is sold or transferred to another party, you warrant and represent that you will delete all cookies and software files obtained by or through use of the Service. BLP reserves the right to terminate your account, in its sole discretion, at any time without notice. You may terminate your account at any time by submitting feedback. Upon termination, you will receive an automated confirmation via e-mail that the request was received, and your account will be terminated within five (5) business days. You are responsible for all charges incurred up to the time the account is terminated. Notwithstanding anything else herein, BLP reserves the right to pursue any and all claims against any user of your account. You agree to maintain only one account with the Service at any time and certify that you currently have no other account(s) with the Service.

7. Disclaimer and Limitation of Liability. (i) YOU AGREE THAT YOUR USE OF THE SERVICE IS AT YOUR SOLE RISK AND ACKNOWLEDGE THAT THE SERVICE AND ANYTHING CONTAINED WITHIN THE SERVICE, INCLUDING, BUT NOT LIMITED TO, CONTENT, SERVICES, GOODS, OR ADVERTISEMENTS ARE PROVIDED "AS IS" AND "AS AVAILABLE," AND THAT BLOOMBERG MAKES NO WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE SERVICE, INCLUDING, BUT NOT LIMITED TO, MERCHANTABILITY, NON-INFRINGEMENT, TITLE, OR FITNESS FOR A PARTICULAR PURPOSE OR USE.

(ii) Bloomberg does not warrant that the Service is compatible with your equipment or that the Service, or e-mail sent by Bloomberg or its representative, is free of errors or viruses, worms or "Trojan horses," or any other harmful, invasive, or corrupted files, and is not liable for any damage you may suffer as a result of such destructive features. You agree that Bloomberg and its Suppliers, agents, directors, officers, employees, representatives, successors, and assigns shall have no responsibility or liability for: (i) any injury or damages, whether caused by the negligence of Bloomberg, its parent, or their respective affiliates, Suppliers, agents, directors, officers, employees, representatives, general partner, subsidiaries, successors, and assigns, or otherwise arising in connection with the Service and shall not be liable for any lost profits, losses, punitive, incidental or consequential damages, or any claim against Bloomberg by any other party; or (ii) any fault, inaccuracy, omission, delay, or any other failure in the Service caused by your computer equipment or arising from your use of the Service on such equipment. The content of other Web sites, services, goods, or advertisements that may be linked to the Service is not maintained or controlled by Bloomberg. Bloomberg is therefore not responsible for the availability, content, or accuracy of other Web sites, services, or goods that may be linked to, or advertised on, the Service. Bloomberg does not: (a) make any warranty, express or implied, with respect to the use of the links provided on, or to, the Service; (b) guarantee the accuracy, completeness, usefulness or adequacy of any other Web sites, services, goods, or advertisements that may be linked to the Service; or (c) make any endorsement, express or implied, of any other Web sites, services, goods, or advertisements that may be linked to the Service. Bloomberg is also not responsible for the reliability or continued availability of the telephone lines, wireless services, communications media, and equipment you use to access the Service. You understand that Bloomberg and/or third-party contributors to the Service may choose at any time to inhibit or prohibit their content from being accessed under the TOS.

(iii) You acknowledge that: (i) the Service is provided for information purposes only and is not intended for trading purposes; (ii) the Service may include certain information taken from stock exchanges and other sources from around the world; (iii) Bloomberg does not guarantee the sequence, accuracy, completeness, or timeliness of the Service; (iv) the provision of certain parts of the Service is subject to the terms and conditions of other agreements to which Bloomberg is a party; (v) none of the information contained on this site constitutes a solicitation, offer, opinion, or recommendation by Bloomberg to buy or sell any security, or to provide legal, tax, accounting, or investment advice or services regarding the profitability or suitability of any security or investment; and (vi) the information provided on this site is not intended for use by, or distribution to, any person or entity in any jurisdiction or country where such use or distribution would be contrary to law or regulation. Accordingly, anything to the contrary herein set forth notwithstanding, Bloomberg, its Suppliers, agents, directors, officers, employees, representatives, successors, and assigns shall not, directly or indirectly, be liable, in any way, to you or any other person for any: (a) inaccuracies or errors in or omissions from the Service including, but not limited to, quotes and financial data; (b) delays, errors, or interruptions in the transmission or delivery of the Service; or (c) loss or damage arising therefrom or occasioned thereby, or by any reason of nonperformance.

(iv) UNDER NO CIRCUMSTANCES, INCLUDING BUT NOT LIMITED TO NEGLIGENCE, SHALL BLOOMBERG, ITS SUPPLIERS, AGENTS, DIRECTORS, OFFICERS, EMPLOYEES, REPRESENTATIVES, SUCCESSORS, OR ASSIGNS BE LIABLE TO YOU FOR DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE, OR EXEMPLARY DAMAGES EVEN IF BLOOMBERG HAS BEEN ADVISED SPECIFICALLY OF THE POSSIBILITY OF SUCH DAMAGES, ARISING FROM USE OF OR INABILITY TO USE THE SERVICE OR ANY LINKS OR ITEMS ON THE SERVICE OR ANY PROVISION OF THE TOS, SUCH AS, BUT NOT LIMITED TO, LOSS OF REVENUE OR ANTICIPATED PROFITS OR LOST BUSINESS. APPLICABLE LAW MAY NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY OR INCIDENTAL OR CONSEQUENTIAL DAMAGES. IN NO EVENT SHALL BLOOMBERG'S TOTAL LIABILITY TO YOU FOR ALL DAMAGES, LOSSES AND CAUSES OF ACTION (WHETHER IN CONTRACT OR TORT, INCLUDING BUT NOT LIMITED TO, NEGLIGENCE) EXCEED THE AMOUNT PAID BY YOU, IF ANY, FOR ACCESSING THIS SITE.

8. Your Authority to Agree to this TOS. You represent, warrant and covenant that: (i) you have the power and authority to enter into this agreement; and (ii) you are at least eighteen (18) years old.
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10. Termination. (a) You may terminate the TOS, with or without cause and at any time, by discontinuing your use of the Service and destroying all materials obtained from the Service. (b) You agree that, without notice, BLP may terminate the TOS, or suspend your access to the Service, with or without cause at any time and effective immediately. The TOS will terminate immediately without notice from BLP if you, in BLP's sole discretion, fail to comply with any provision of the TOS. (c) Bloomberg shall not be liable to you or any third party for the termination or suspension of the Service, or any claims related to the termination or suspension of the Service. Upon termination of the TOS by you or BLP, you must discontinue your use of the Service and destroy promptly all materials obtained from the Service and any copies thereof.
11. Governing Law. The TOS shall be governed and construed in accordance with the laws of the United States and the State of New York, without giving effect to conflicts-of-law principles thereof. You agree to submit to the personal jurisdiction of the state and federal courts located in New York County in the State of New York with respect to any legal proceedings that may arise in connection with the Service or from a dispute as to the interpretation or breach of the TOS.
12. United States Export Control & Foreign Assets Control Regulations. Bloomberg does not represent that materials in the Service are appropriate or available for use in any particular location. Those who choose to access the Service do so on their own initiative and are responsible for compliance with all applicable laws. Software from the Service is subject to U.S. export controls and may not be downloaded, exported or re-exported: (i) into (or to a national or resident of) Cuba, Iran, North Korea, Sudan, Syria, or any other country with respect to which the United States maintains trade sanctions prohibiting the shipment of goods; or (ii) to anyone on or acting on behalf of an entity on the U.S. Treasury Department's list of Specially Designated Nationals and Blocked Persons or the U.S. Commerce Department's Denied Persons List or Entities List or included in General Order 3 (15 C.F.R. Part 736, Supplement 1), which prohibits exports to Mayrow General Trading, affiliated entities and persons, and specified persons involved in the manufacture or sale of Improvised Explosive Devices (together referred to as "U.S. Prohibited Party Lists"). By downloading or using such software, you represent and warrant that you are not (a) located in or a national or resident of any country noted above that is subject to U.S. trade sanctions, or (b) on any U.S. Prohibited Party List or acting on behalf of any person or entity on any such list.
13. Miscellaneous. You accept that BLP has the right to change the content or technical specifications of any aspect of the Service at any time in BLP's sole discretion. You further accept that such changes may result in your being unable to access the Service. The failure of Bloomberg to exercise or enforce any right or provision of the TOS shall not constitute a waiver of such right or provision. Sections 2 through 9, 10(c), and 11 through 17 shall survive any termination of the TOS.
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15. Severability. If any provision of the TOS is found invalid or unenforceable, that provision will be enforced to the maximum extent permissible, and the other provisions of the TOS will remain in force.
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B. LINKING AND FRAMING TERMS AND CONDITIONS

YOU MAY NOT LINK TO OR FRAME THIS WEB SITE, OR ANY PORTION THEREOF, EXCEPT AS PROVIDED HEREIN.

1. . Intellectual Property.
2. Restrictions on Linking to this Web Site. Without limiting other provisions contained in our TOS, you may include a link(s) on your Web site to Bloomberg.com's publicly accessible Web pages (i.e., any Web page which does not require a login and password and/or restrict access). You may not link to Bloomberg.com any site containing an inappropriate, profane, defamatory, infringing, obscene, indecent or unlawful topic, name, material or information that violates any applicable intellectual property, proprietary, privacy or publicity rights.
3. Restrictions on Framing Activities.

BLP is concerned about the integrity of this Web site when it is accessed in a manner solely determined by third parties or viewed in a setting solely created by third parties. Specifically, BLP is concerned with activities such as bringing up or presenting content of this Web site within another Web site ("framing"). In this regard, without limiting the provisions contained in our TOS, you may not frame any Web page from Bloomberg.com, except with our express written permission. Further, you may not archive, cache, or mirror any Bloomberg.com Web page or portions of a Web page. If you would like to use, reprint, frame, or redistribute any Bloomberg.com content other than as permitted herein, you must request permission from BLP by writing to FEEDBACK. Please include: (a) your name, e-mail address, and telephone number; (b) the name of your company; (c) the Web site address(es) where the proposed use will occur; and (d) specific details about the contemplated linking or framing activities, including the content or Web page(s) of this Web site which you would like to use.

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E. PRIVACY POLICY FOR THIS WEB SITE

F. E-Commerce Directive Information

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Telecommunication Terms for Taiwanese Customers

美商彭博新聞有限公司台北分公司彭博高速資訊網路業務營業規章

第一條彭博高速資訊網路（英文名稱： Bloomberg High Speed Data Network）業務（以下簡稱「本業務」），係指美商彭博新聞有限公司台北分公司（以下簡稱「本公司」）利用彭博高速資訊網路所提供之各項財經資訊服務。

第二條本業務之營業項目為「存取網路服務(Store and Retrieve Network)」（如電話秘書、線上資訊接取、電子佈告欄(BBS)、電子資料交換、統合信息服務(Unified message service)、電子文件服務、語音訊息、語音信箱服務），及「存轉網路服務（Store & Forward Network）」（如傳真存轉、交易服務、數據網路服務）。

第三條

用戶租用本業務，應依本公司規定向本公司申請並簽訂相關用戶合約，載明各項權利義務。

第四條

自用戶端連結至彭博高速資訊網路之電信機線設備，應由本公司負責向第一類電信事業承租，其租用條件應依該第一類電信事業之規定訂之，且其架設、維修、通信品質等均由該第一類電信事業負責，本公司僅負責代用戶與該第一類電信事業聯繫。

第五條

本業務系統所需各項硬體及軟體設備之取得、設置以及所有權，均依本公司相關業務規定或用戶合約約定辦理。

第六條

本公司提供本業務所收取之服務費主要可分為系統建置費、設定費、網路系統維護費、資訊服務費、其他電信事業所收取之通訊費用等。本公司應於用戶合約中載明詳細付費項目以及各項費用之計算標準。

第七條

本公司若對於服務費有所調整或變更時，除報請主管機關備查外，應於彭博高速資訊網路之網站以及本公司營業場所公告，並事前個別通知用戶。用戶若不同意服務費之調整或變更，得立即終止用戶合約，本公司應退還用戶所預付之服務費。

第八條

用戶於向本公司申請使用本業務時，應提出正確之用戶資料，並於變更時通知本公司，否則概由用戶自行負責。

第九條

本公司對於因提供本業務所取得之用戶資料應加以保密，並遵守「電腦處理個人資料保護法」之規定處理用戶資料。惟於下列情形，本公司得提供用戶資料予第三人：一、經用戶同意。二、司法機關或犯罪偵查機關，為偵查或調查犯罪依法所為之命令。三、其他政府機關因執行公權力而依法所為之命令。四、與公眾生命安全有關之機關為進行緊急救助者。五、符合「電腦處理個人資料保護法」第二十三條之規定者。

第十條本公司預定暫停或終止本業務之一部或全部時，應於預定暫停或終止日一個月前報請主管機關備查，並立即通知用戶。

前項暫停營業之時間最長不得超過一年。

第十一條

若本公司營業許可遭主管機關廢止，或本公司預定暫停或終止本業務之一部或全部時，本公司應退還用戶所預付之費用，並應依法律規定以及用戶合約約定賠償用戶之損失。

第十二條

用戶若有拒絕或遲延給付本業務之服務費之情事，本公司應定相當期限催告該用戶給付所積欠之服務費，並告知該用戶若未於所定期限內給付時，本公司有權依用戶合約之規定停止提供本業務，或期前終止用戶合約。

第十三條

若本公司發現用戶使用本業務有下列情形之一時，本公司有權立即停止對該用戶提供本業務，且該用戶應自行負擔任何責任：一、危害國家安全、擾亂治安。二、妨害公共秩序、善良風俗。三、竊取、更改、破壞他人資訊。四、危害本公司或他人網路系統安全。五、妨礙通訊秘密。

第十四條

用戶使用本業務，如因本公司或其他電信業者之系統設備障礙、阻斷，以致發生錯誤、遲滯、中斷或不能傳遞時，本公司依電信法第二十三條之規定不負損害賠償責任，但應依下列規定扣減服務費：一、若服務中斷達十二小時以上，而本公司仍未能使其恢復者，每中斷十二小時扣減每月服務費之三十分之一。二、當月因通信不通所扣減之服務費總額應以當月所應繳納之服務費總數為限。三、服務中斷之起始時間，以本公司察覺服務中斷或接獲用戶服務中斷之通知時為準，但若有紀錄證明服務中斷之實際起始時間者，以中斷實際發生之時為準。

第十五條

本公司接獲用戶有關服務中斷之通知後，應立即展開系統之檢查及修復，並儘速排除服務中斷之原因，以維持本業務之服務品質。

第十六條用戶若對於本業務有任何意見或申訴，得利用客服電話：+886-2-7719-1592與本公司聯絡。

第十七條本公司應遵守電信法之相關規定，確保用戶使用本業務之通訊秘密。

第十八條

若用戶有利用本業務從事非法活動者，本公司有權向相關單位檢舉，並有權將之視為拒絕往來戶。

第十九條本營業規章未盡事宜，悉依相關適用法令以及用戶合約之規定辦理。

第二十條本營業規章自公告日起施行，於有變更時亦同。