Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
4
First snow to fall in Seoul on Wednesday
-
5
Man convicted after binge eating to avoid military service
-
6
S. Korea not to attend Sado mine memorial: foreign ministry
-
7
Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
-
8
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
9
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
10
Nvidia CEO signals Samsung’s imminent shipment of AI chips
-
Fitch lowers UK outlook to ‘negative’, confirms AAA rating
Fitch lowered Britain‘s long-term outlook Wednesday to negative from stable, while confirming its top-level AAA rating.The ratings agency said the revision “reflects the very limited fiscal space to absorb further adverse economic shocks in light of such elevated debt levels and a potentially weaker than currently forecast economic recovery.”The change represented a more than 50 percent chance of a downgrade over the next two years, Fitch said, citing ongoing financial tensions in the eurozone.”
March 15, 2012
-
Apple may climb above $700 as iPad sales begin: analysts
Apple Inc., getting a boost from anticipation of the new iPad, rose to a record Wednesday and may climb 19 percent to $700, according to analysts who raised their price targets for the stock. At least four analysts, including Katy Huberty at Morgan Stanley in New York, have increased price targets to $700 or higher in the past two weeks. Apple, based in Cupertino, California, rose 3.8 percent to $589.58 at the close in New York and has gained 46 percent this year. More are likely to boost target
March 15, 2012
-
Fitch lowers UK outlook to negative, confirms AAA rating
Fitch lowered Britain's long-term outlook Wednesday to negative from stable, while confirming its top-level AAA rating.The ratings agency said the revision "reflects the very limited fiscal space to absorb further adverse economic shocks in light of such elevated debt levels and a potentially weaker
March 15, 2012
-
Demand for iPad, rivals leads IDC to up forecast
NEW YORK (AP) ― Thanks to strong demand for Apple’s iPad and competing devices such as Amazon’s Kindle Fire, worldwide shipments of tablet computers are likely to grow faster than expected this year, according to a newly revised forecast from a leading market-research group.IDC said shipments in the last three months of 2011 were higher than expected. As a result, the research group now projects shipments of 106 million in 2012, up from its previous forecast of nearly 88 million.The new figure,
March 14, 2012
-
Fitch upgrades Greece out of default territory
ATHENS (AP) ― The Fitch ratings agency on Tuesday upgraded Greece out of “restricted default” after Athens carried out the biggest debt writedown in history in a bond swap with private creditors. International debt inspectors, however, warned the country’s recovery will be slower and harder than expected.The new “B-” rating, which applies to the new bonds issued under Greek law, is still junk status, meaning they are not investment grade despite the huge cut to Greece’s debt pile.Along with the
March 14, 2012
-
AT&T offers quiet settlement with iPhone user
NEW YORK (AP) ― AT&T is offering to discuss a settlement to an iPhone user who won a small-claims case that alleged the company was slowing down his “unlimited” data service. In a letter dated Friday, a law firm retained by AT&T Inc. is threatening to shut off Matthew Spaccarelli’s phone service if he doesn’t sit down to talk. The phone company doesn’t say if the settlement would involve money beyond the $850 award the Simi Valley, California, resident won from the company in small claims court
March 14, 2012
-
Fed: 15 banks pass stress test; Citi, 3 more fail
All but four of 19 major U.S. banks got a green light Tuesday from the Federal Reserve to boost their dividends and take other steps that will make their stocks more attractive to investors. The Fed declared them strong enough to survive a downturn worse than the Great Recession.The Fed’s findings s
March 14, 2012
-
PepsiCo shakes up management team; Nooyi still CEO
NEW YORK (AP) ― PepsiCo Inc. revamped its management structure Monday in a move intended to strengthen its lineup of potential successors to CEO Indra Nooyi and leverage its scale as a global company. The management restructuring puts John Compton, who heads the company’s Americas foods division, in charge of all the company’s global groups in the newly created role of president. PepsiCo said Compton will also work with its regional groups for Europe, Asia, the Middle East and Africa to build br
March 13, 2012
-
Ruling upheld on Boeing subsidies
WTO rules Boeing received $5b in subsidies, less than what arch-rival Airbus allegedGENEVA (AP) ― A World Trade Organization appeals panel upheld Monday an earlier finding that U.S. planemaker Boeing Inc. received at least $5 billion in subsidies that hurt its European archrival and were prohibited under international trade rules, but it was far less than the European Union had alleged in its complaint. The amount is also less than the $18 billion in illegal state support over four decades that
March 13, 2012
-
Japan boosts lending, leaves rates unchanged
TOKYO (AFP) -- The Bank of Japan on Tuesday boosted a loan program by almost $25 billion as part of efforts to kickstart the economy, while leaving the key interest rate unchanged at between zero and 0.1 percent.The central bank also said the country’s sluggish economy has shown signs of picking up as it announced a one-year extension to a loan program for banks in areas hit by last year’s earthquake and tsunami.The Bank of Japan said it would hike a lending program by about 2.0 trillion yen ($2
March 13, 2012
-
OECD: Leading economies,eurozone rally; China slows
PARIS (AFP) ― Tentative signs of economic upturn are appearing in the eurozone but business activity is showing signs of flagging in China and Brazil, the OECD said on Monday. The Organization for Economic Cooperation and Development said that the United States and Japan were leading improving growth prospects. “Stronger, albeit tenative” signals were evident in major economies and in the eurozone. But figures for China and Brazil were now below trend. The OECD’s composite index of leading indic
March 13, 2012
-
Fed stress tests 19 banks against U.S. recession
The Federal Reserve will show how the capital of 19 U.S. banks might fare through a deep recession and a second housing crisis when they unveil stress-test results in three days. The tests will show results for revenues, capital ratios and profits or losses at each firm over a nine-quarter period, the Fed said in a paper released Monday in Washington. The results will be released at 4:30 p.m. on March 15. Templates included in the Fed release Monday showed an array of categories it plans to disc
March 13, 2012
-
Apple: Shipment of new iPad may take 2-3 weeks
NEW YORK (AFP) ― Apple said that shipments of its new iPad to customers who order it online may take two to three weeks but that the tablet would still be available in stores on Friday.Apple, which has set March 16 as the launch date for all sales of the third-generation iPad, said online pre-orders of the device had been going on since March 7.However, a notice seen Monday on the Apple website for the new iPad said: “Ships: 2-3 weeks.”Apple last Wednesday unveiled the third-generation iPad, enh
March 13, 2012
-
Singapore, most competitive city in Asia: economist
Singapore is Asia’s most competitive city in attracting businesses, efficiency and promoting a clean environment, according to an Economist Intelligence Unit report commissioned by Citigroup Inc. The island, ranked by the World Bank as the easiest place to do business, was the world’s third-most competitive city after New York and London among 120, according to the report. Singapore ranked the highest in financial maturity and physical capital, beating fourth-ranked Hong Kong, the report showed.
March 13, 2012
-
India ends export ban on cotton
World’s second-biggest cotton producer to scrap ban after protests from growers, ChinaIndia, the world’s second-biggest cotton producer, scrapped a one-week-old ban on exports of the fiber after protests from growers, traders and China, the nation’s biggest buyer. “Keeping in view the interests of the farmers, industry, trade, a balanced view has been considered by the Group of Ministers to roll back the ban,” Trade Minister Anand Sharma said in an e-mailed statement Sunday. The ministry will pu
March 12, 2012
-
Airbus, airlines rally against EU carbon tax
PARIS (AFP) ― Airbus and six European airlines have written to four EU leaders attacking the carbon tax imposed by the European Union, a source close to the dossier told AFP Sunday.Plane maker Airbus, British Airways, Virgin Atlantic, Lufthansa, Air France, Air Berlin and Iberia have written to the leaders of Britain, France, Germany and Spain to warn them about its economic consequences, said the source.They argue the tax could cost them billions of dollars in lost orders and lead to the loss o
March 12, 2012
-
Eurozone in ‘mild recession’
Top ECB official says inflationary pressures aside from oil and taxes remain more benignFRANKFURT (AP) ― A top European Central Bank official says the 17 countries that use the euro will probably see a “very mild recession” this year and that higher oil prices should not have a lasting impact on inflation. Benoit Coeure, an ECB executive board member, told Japan’s Nikkei newspaper that growth was held back by scarce bank credit and necessary government budget-cutting because of problems with deb
March 12, 2012
-
Greece clinches debt deal for bailout
Moody’s declares Greece in default on its debtBRUSSELS (AFP) ― Greece took a critical step Friday toward avoiding bankruptcy with a world-record debt write-off deal crucial for the country’s second massive bailout from the IMF and the European Union.Athens announced that a large majority of the country’s private creditors had agreed to a debt swap aimed at erasing 107 billion euros ($140 billion) worth of debt.The success of the deal meant Greece would be able to meet a looming March 20 debt pay
March 11, 2012
-
Mazda plans to cut U.S. employee numbers
Mazda Motor Corp., Japan’s most unprofitable major carmaker, plans to offer buyouts to U.S. employees and may make mandatory job cuts as earnings are hit by exchange rate pressure. Employees of Mazda’s U.S. unit in Irvine, California, will be notified next week of buyout options, said Jeremy Barnes, a spokesman for the company. Dismissals are possible as a next step if too few workers leave voluntarily, he said. “It’s a result of the global headwinds we are facing,” Barnes said. He declined to s
March 11, 2012
-
Consumers line up to buy Chinese-Venezuelan cars
CARACAS (AFP) ― Just weeks after the opening of four Chery dealerships in Venezuela, dozens of people are lining up every day to buy the first Chinese cars being sold in the Latin American nation.Unlike competing Japanese and American cars, import preferences granted by the Venezuelan government mean the Chinese cars are cheaper, which has attracted a steady stream of interested customers.“I came to buy here because elsewhere there are no cars and this is an alternative,” stylist Juan Hernandez,
March 11, 2012
