Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
Defense ministry denies special treatment for BTS’ V amid phone use allegations
-
3
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
4
OpenAI in talks with Samsung to power AI features, report says
-
5
Two jailed for forcing disabled teens into prostitution
-
6
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
7
South Korean military plans to launch new division for future warfare
-
8
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
-
9
Kia EV9 GT marks world debut at LA Motor Show
-
10
Teen smoking, drinking decline, while mental health, dietary habits worsen
-
Fed passes Goldman Sachs, JPMorgan capital plans
WASHINGTON (AFP) ― The Federal Reserve on Monday said it had passed the revised capital plans of JPMorgan Chase and Goldman Sachs, eight months after sending them back due to weaknesses.In its March stress tests of the top U.S. banks, the Fed had raised questions about how the two planned to allocate capital, which includes their programs for dividends and share buybacks to reward investors.Both JPMorgan and Goldman received only conditional approvals, and were required to submit new plans by th
Dec. 3, 2013
-
U.S. regulators may enact Volcker rule next week
At least three U.S. regulators will meet on Dec. 10 to adopt the final version of the Volcker rule banning banks from making speculative bets with their own money, according to three people familiar with the planning. The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. are scheduling meetings to act on the rule on that date, said the people, who requested anonymity because the schedule hasn’t been announced. Two other agencies that need to approve t
Dec. 3, 2013
-
Norway fund leaves Tepco due to Fukushima
Norwegian investment fund KLP said Monday it had sold its shares in Tokyo Electric Power (Tepco), the operator of the Fukushima nuclear plant, due to its handling of the disaster.The mutual fund, which manages the pensions and insurance plans of public servants and is worth around 370 billion kroner ($60 billion), owned about eight million kroner in Tepco shares."Tepco has worked intensely to limit the consequences of the accident and has, seemingly, acted correctly, but the consequences of the
Dec. 3, 2013
-
Apple buys Topsy in pursuit of more Twitter tips
Apple has bought Topsy Labs in a deal that will provide the iPhone maker with more insights about the chatter on Twitter.Topsy pores through the stream of conversations occurring on Twitter to identify trends and people influencing public opinion. The San Francisco startup also runs a free search engine that boasts an index of every tweet posted since 2006, a resource that's not publicly available on Twitter's own online messaging service.Apple Inc. spokeswoman Kristin Huguet confirmed the Topsy
Dec. 3, 2013
-
Amazon unveils futuristic mini-drone delivery plan
Amazon CEO Jeff Bezos revealed Sunday that his company is looking to the future with plans to use "octocopter" mini-drones to fly small packages to consumers in just 30 minutes.The US retail giant's ambitious project still requires additional safety testing and federal approval, but Bezos estimated that Amazon "Prime Air" would be up and running within four to five years.A demo video posted on the company's website showed the tiny robotic devices picking up packages in small yellow buckets from
Dec. 2, 2013
-
OPEC to decide oil output amid demand, Libya strains
VIENNA (AFP) ― The Organization of Petroleum Exporting Countries meets here this week to decide on the cartel‘s oil output against a backdrop of slowing crude demand and unrest in member nation Libya.Supplying about one third of the world’s oil, the cartel is expected to maintain its output ceiling of 30 million barrels per day when it meets at its Vienna headquarters on Wednesday, even though it is currently producing under the limit.OPEC is seen sitting tight, with its dozen members largely ap
Dec. 1, 2013
-
Carmakers rev up for return to Iran market
TEHRAN (AFP) ― Major carmakers and parts suppliers showed up in Tehran on Saturday to assess the Iranian market’s “considerable potential,” just one week after Iran’s historic nuclear agreement with world powers.The International Conference of the Automotive Industry, the first such event in Iran, has brought together more than 150 companies from around the globe, according to organizers.The key industry has been battered for more than a year by Western sanctions on Iran over its nuclear program
Dec. 1, 2013
-
Apple unhappy with e-book monitor’s pay and power
SAN FRANCISCO (AFP) ― Apple wants to rein in the pay and power of a monitor hired to watch over the company as punishment for conviction in an e-book price-fixing case.In court paperwork available online Friday, Apple objected to being billed more than $1,000 an hour for the services of former U.S. prosecutor Michael Bromwich.The Northern California-based maker of iPads, iPods, iPhones and Macintosh computers also protested Bromwich‘s intent to question chief executive Tim Cook, lead designer Jo
Dec. 1, 2013
-
Moody’s upgrades Greek credit rating
ATHENS (AP) ― Ratings agency Moody’s late Friday upgraded Greece’s credit rating, citing improved results in the crisis-hit country’s economic adjustment program. The agency announced the two-notch upgrade from “C” to “Caa3” ― still well below investment grade ― in a move seen as a boost for the government that has promised to end a crippling recession and return to international markets next year. The news was announced hours after the government said talks with bailout out creditors had hit sn
Dec. 1, 2013
-
WTO faces fight for survival at make-or-break summit
JAKARTA (AFP) ― The WTO meets for a crunch summit in Indonesia this week billed as a do-or-die attempt to salvage an elusive deal on global commerce and, with it, the 159-member trade body’s own relevance.New WTO chief Roberto Azevedo will be seeking to defy the odds and push through an agreement that could lead to relaunching the “Doha Round” of talks on slashing world trade barriers.But hopes for success are low after the WTO failed to agree on even a modest deal to put to trade ministers who
Dec. 1, 2013
-
Peugeot boss gives up huge pension amid French fury
PARIS (AFP) ― The outgoing head of France’s loss-making, state-subsidized carmaker PSA Peugeot Citroen said Wednesday he was giving up his 21-million-euro golden parachute after outrage from unions and lawmakers.“I have decided to give up the current provisions of my pension rights,” Philippe Varin said at a press conference in the PSA headquarters.Against a national background of record unemployment and many French workers being obliged to accept wage freezes to retain their jobs, Varin’s payou
Nov. 28, 2013
-
World Bank says no money for nuclear power
UNITED NATIONS (AFP) ― The World Bank and United Nations on Wednesday appealed for billions of dollars to provide electricity for the poorest nations but said there would be no investment in nuclear power.“We don‘t do nuclear energy,” said World Bank president Jim Yong Kim as he and U.N. leader Ban Ki-moon outlined efforts to make sure all people have access to electricity by 2030.Kim said $600-$800 billion a year will be needed to meet the campaign target of universal access to electricity, dou
Nov. 28, 2013
-
Deal failure overshadows WTO summit
GENEVA (AFP) ― Negotiators have failed to fix a deal for a crunch summit next week, casting a shadow over efforts to revive stalled talks on slashing barriers to global commerce, the head of the WTO said Tuesday.“The reality is that we have proved that we can’t cross the final yard here in Geneva. The process here is over,” World Trade Organization chief Roberto Azevedo told reporters after a marathon session ended without a final accord.Underlining that trade diplomats got achingly close before
Nov. 27, 2013
-
U.S. fines Swiss firm for bribery, sanctions violations
WASHINGTON (AFP) ― Swiss oil services firm Weatherford International will pay more than $252 million to settle charges of corruption and violations of U.S. sanctions against Iran, Cuba and other countries, officials said Tuesday.Weatherford and its U.S. subsidiaries falsified its accounts to hide bribes paid to win business in Africa and the Middle East and its violations of U.S. sanctions and export controls.Three subsidiaries of Weatherford agreed to plead guilty to anti-bribery provisions of
Nov. 27, 2013
-
China, E. Europe pledge to boost ties, heed EU rules
BUCHAREST (AFP) ― China and 16 Central and Eastern European countries pledged Tuesday to boost two-way investment and trade, insisting that EU regulations will be met.“China eyes cooperation in infrastructure, communications, high-speed railway projects, which will lead to massive investment and a rise in commercial exchanges,” with countries in the region, Chinese Prime Minister Li Keqiang told 16 CEE counterparts and hundreds of businessmen attending a meeting in Bucharest.“We are prepared to
Nov. 27, 2013
-
Peugeot recruits new CEO
Struggling French automaker PSA Peugeot Citroen said Monday it had recruited the former No. 2 of its competitor Renault to take over as its chief executive next year.“After conducting extensive research, the Supervisory Board chose Carlos Tavares to succeed the current president of the Managing Board,” PSA Peugeot Citroen said in a statement.It said Tavaras, a former chief of operations at Renault who also held management posts at its Japanese ally Nissan, would join the board on Jan. 1 and succ
Nov. 26, 2013
-
WTO backs EU in seal ban battle with Canada and Norway
The WTO on Monday ruled in favor of the European Union in a bitter battle with Canada and Norway over its ban on the import and sale of seal products.The Geneva-based World Trade Organization said that while its disputes panel found merit in the countries’ complaint lodged against the EU, that was outweighed by the 2010 ban that “fulfills the objective of addressing EU public moral concerns on seal welfare to a certain extent.” Canada said it would appeal the decision, while critics warned that
Nov. 26, 2013
-
Qualcomm’s China growth at risk
Qualcomm’s growth prospects in the world’s largest mobile-phone market may be under threat after China’s National Development and Reform Commission began an investigation related to an anti-monopoly law. Qualcomm disclosed the probe yesterday, saying the NDRC advised that specific details are confidential. The San Diego-based company said it knows of no charge by the agency that it violated the law. Qualcomm gets revenue from sales of smartphone chips and collects license fees from wireless prov
Nov. 26, 2013
-
Swiss vote against cap on exec pay
GENEVA (AFP) ― Swiss voters on Sunday massively rejected a proposal to cap executive pay at 12 times the wage of a firm’s lowest earner, according to official referendum results.Two thirds voted against the measure, which had been expected to fail in spite of widespread discontent at excessive pay for top bosses.Dubbed the “1:12” initiative after the legally-binding ratio it would have set between the top and bottom salaries in a firm, the plan met with stiff opposition from Switzerland’s busine
Nov. 25, 2013
-
U.S. ‘really blew it’ on surveillance, Facebook CEO says
The U.S. government “really blew it” on conducting surveillance programs that riled foreign leaders and domestic skeptics, Facebook Inc. Chief Executive Officer Mark Zuckerberg said in a television interview. “They’re continuing to blow it in some ways and I hope they become more transparent,” Zuckerberg, 29, said in an interview broadcast Sunday on ABC’s “This Week.” “These things are always in balance, in terms of doing the right things and also being clear and telling people about what you’re
Nov. 25, 2013
