Most Popular
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Dongduk Women’s University halts coeducation talks
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Defense ministry denies special treatment for BTS’ V amid phone use allegations
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OpenAI in talks with Samsung to power AI features, report says
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Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
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Two jailed for forcing disabled teens into prostitution
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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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S. Korea not to attend Sado mine memorial: foreign ministry
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South Korean military plans to launch new division for future warfare
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Kia EV9 GT marks world debut at LA Motor Show
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Gold bars and cash bundles; authorities confiscate millions from tax dodgers
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Yahoo nearing $1.1b acquisition of Tumblr
Yahoo may be on the verge of closing its biggest acquisition during the 10-month reign of CEO Marissa Mayer as she tries to attract more traffic and advertisers to the Internet company’s website and mobile applications.The Sunnyvale, California, company’s board of directors will meet Sunday evening to consider approving a $1.1 billion acquisition of online content-sharing site Tumblr in a deal Mayer negotiated, according to the technology news site All Things D. The story posted late Friday cit
May 19, 2013
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‘Economic gains from computer tech’
Federal Reserve Chairman Ben Bernanke says pessimists forecasting that the economy will not reap sizable benefits from the computer revolution are likely to be proven wrong. Bernanke told a college graduating class Saturday that the long-range practical consequences of innovations such as faster computers and the Internet are hard to predict. But he said inventors have only scratched the surface of the commercial applications that can be obtained in such fields as medicine and clean energy. Ber
May 19, 2013
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Weak yen helps drive Japan earnings, but no cure-all
Japan’s earnings season has drawn to a close with the sharply weaker yen helping inflate profits at some of the nation’s top exporters, but, warn some commentators, the drop is not all good news.Sony booked its first annual profit in five years, Toyota more than tripled its earnings in the fiscal year to March and the head of rival automaker Nissan hailed the taming of the currency.“I have been talking about the unbelievable strength of the yen for many years,” Carlos Ghosn said after the firm r
May 19, 2013
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Europe car sales post first gain in 19 months
European car sales rose for the first time in 19 months, on gains in the U.K. and a rebound in Germany, amid signs that governments may take measures to stem a contraction in the economy of the countries using the euro.Registrations in April increased 1.8 percent to 1.08 million vehicles from 1.06 million cars a year earlier, the Brussels-based European Automobile Manufacturers Association, or ACEA, said today in a statement. Four-month sales fell 7 percent to 4.18 million vehicles.European poli
May 17, 2013
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Honda returns to F1
Japanese car manufacturer Honda is returning to Formula One in 2015 as an engine supplier to the automaker's former partner McLaren of Britain.Honda president Takanobu Ito announced the decision at a press conference in Tokyo on Thursday.Honda was an entrant, constructor and engine supplier between 1964 and 2008 but pulled out of F1 after the global financial crises.Honda Motor's sales have risen amid improving economic conditions in Japan and overseas. The company has also benefited from a weak
May 16, 2013
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Toyota becomes Asia's biggest firm by market value
Toyota has accelerated past South Korea's Samsung Electronics to become Asia's biggest company by market value, after the Japanese automaker's shares doubled in the past year.Toyota's market capitalisation stood at 22.23 trillion yen ($217 billion) on Thursday, beating out the Galaxy smartphone and tablet computer giant which was worth the equivalent of 20.32 trillion yen.Toyota, also the world's biggest automaker, has seen its shares jump on the back of improving financial results. The Corolla
May 16, 2013
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Japanese economy grew at 3.5 percent pace in 1Q
Japan's economy grew by a stronger-than-expected 3.5 percent in annual terms in the last quarter, giving Prime Minister Shinzo Abe a boost as his government tackles tough reforms needed to ensure a recovery ends more than two decades of malaise. Stronger consumer spending and public works investment coupled with aggressive monetary easing lent oomph to the recovery that began in the last quarter of 2012, when annual growth was 0.3 percent, according to revised data. The preliminary data for Janu
May 16, 2013
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Apple said to be subject of U.S. Senate offshore tax hearing
Apple Inc. will be the subject of a May 21 Senate hearing on U.S. companies’ offshore tax practices, said two people familiar with the inquiry. Apple Chief Executive Officer Tim Cook will testify at the hearing of the Permanent Subcommittee on Investigations, one of the people said. The committee has been examining companies that use various maneuvers to reduce their tax bills, including Microsoft Corp. and Hewlett-Packard Co. Apple, based in Cupertino, California, has $40.4 billion in earnings
May 16, 2013
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Obama: Acting tax agency commissioner has resigned
President Barack Obama announced the resignation of the top official at the federal tax agency following a controversy over the targeting of conservative political groups for extra scrutiny, moving aggressively to respond to one of several scandals plaguing his administration. Obama, who has been criticized for appearing passive in his response to the tax controversy that erupted last week, declared Wednesday, “I am angry about it” and said the American people had a right to be angry as well.He
May 16, 2013
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Bangladesh garment makers hail safety deal
DHAKA (AFP) ― Bangladeshi garment manufacturers on Wednesday hailed an agreement by top retailers to make the country’s factories safer, saying it reflected their long-term commitment to improving working conditions.The retailers made the pledge following one of the world’s worst industrial disasters in which 1,127 people died, most of them female garment workers, when a nine-storey factory complex collapsed outside Dhaka on April 24.Global high street brands including Benetton, Carrefour and Ma
May 15, 2013
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Oil firms raided in EU probe
Three of Europe’s biggest oil explorers are among companies being questioned by European antitrust regulators about potential manipulation of prices in the $3.4 trillion-a-year global crude market. Royal Dutch Shell Plc, BP Plc, Statoil ASA and Platts, the oil-price data collector owned by McGraw Hill Financial Inc., said they’re being investigated after the European Commission conducted raids in three countries to ferret out evidence of collusion. Price fixing in energy markets has the potentia
May 15, 2013
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OECD says global economic crisis hits income inequality, warns may get worse
PARIS (AFP) ― The global economic crisis worsened income inequality in the world’s leading economies substantially and there is a growing risk that the most vulnerable will be hit harder still, the OECD warned Wednesday.The global economic crisis has “has squeezed incomes from work and capital in most countries,” a report based on the Organisation of Economic Cooperation and Development’s income distribution database said.It found that income inequality had increased by more over the three-year
May 15, 2013
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EU to shift bill for bank failures to creditors
BRUSSELS (AP) ― European Union governments want to shift the cost of rescuing troubled banks from taxpayers to the banks’ creditors ― including the holders of large deposits― as part the region’s plan to shore up its shaky financial system. Finance ministers from the 27-country bloc meeting in Brussels on Tuesday sought to hammer out the new rules on how to fund bank rescues but their discussions showed that they were still far apart from agreeing the technicalities underpinning the project to b
May 15, 2013
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RIM unveils cheaper BlackBerry
ORLANDO, Florida (AP) ― Research In Motion unveiled a lower-cost BlackBerry aimed at consumers in emerging markets on Tuesday, stepping up its efforts to regain market share lost to Apple’s iPhone and Android devices powered by Google’s software. The lower-cost gadget, called the Q5, is the company’s third smartphone to run the new BlackBerry 10 system. It will have a physical keyboard, something that sets RIM’s devices apart from Apple’s iPhone and most Android phones. RIM CEO Thorsten Heins sa
May 15, 2013
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Google chief speaks out about vocal cord paralysis
SAN FRANCISCO (AFP) ― Google co-founder and chief Larry Page ended the mystery about his soft, sometimes raspy voice with a personal online post Tuesday about being diagnosed with partially paralyzed vocal cords.Medical details shared by Page on a public page at the Google+ social network explain the reason behind his puzzling absences from major company events in the last year and his tendency to speak in what seems a hoarse whisper.Page last year also took a break from speaking for medical rea
May 15, 2013
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Bloomberg exec apologizes amid new report of leaks
Financial data and news service Bloomberg LP moved to repair damage to its reputation Monday as a published report said that more than 10,000 of its clients' private messages containing sensitive pricing data had been leaked online.The report came the same day Bloomberg News Editor-in-Chief Matthew Winkler apologized for the news service's practice of allowing its journalists to access data about how clients used the company's financial data services.Reporters have had access to the data, Winkle
May 15, 2013
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Fitch upgrades Greece's credit rating
Debt-hobbled Greece got a new morale boost Tuesday, with Fitch ratings agency upgrading its sovereign credit grade, a day after the country's European creditors backed the release of a new rescue loan payment.However, the one-notch upgrade from CCC to B- still leaves Greece's government debt six levels deep in junk status _ that is, its bonds are not considered investment grade. It has languished in junk territory since 2010, after it admitted to doctoring its deficit reporting and lost access t
May 15, 2013
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Boeing resumes 787 deliveries after 4-month halt
Boeing restarted deliveries of 787s on Tuesday after a four-month halt while it dealt with the smoldering batteries that had kept the planes grounded.Boeing handed the plane over to Japan's All Nippon Airways at its factory in Everett, Washington.Airline flights and deliveries were halted in mid-January after two battery incidents. One was a fire on a plane that had just landed minutes earlier, and the second was in-flight smoldering that prompted an emergency landing by an ANA plane.The emergen
May 15, 2013
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U.S. estimates 2013 deficit at $642 billion
The budget deficit for the current year is projected to come in well below what was estimated just a few months ago, according to a government study released Tuesday.The Congressional Budget Office cites higher tax revenues and better-than-expected bailout repayments by mortgage giants Fannie Mae and Freddie Mac as the key reasons for the improved outlook. The budget office now predicts a 2013 budget deficit of $642 billion, more than $200 billion below its February estimate. This year's shortfa
May 15, 2013
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Audi sales in China exceed BMW, Mercedes on demand for SUVs
Volkswagen AG’s Audi posted the fastest pace of sales growth among German luxury marques in China last month after it sold more sport-utility vehicles. Audi deliveries rose 13 percent to 38,710 vehicles in China and Hong Kong in April, the Ingolstadt, Germany-based company said on its website. Bayerische Motoren Werke AG, the world’s largest luxury automaker, reported an 11 percent gain to 30,311 units in China, the automaker said on its website. Daimler AG’s Mercedes-Benz said sales increased 1
May 14, 2013
