Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Wealthy parents ditch Korean passports to get kids into international school
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First snow to fall in Seoul on Wednesday
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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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Man convicted after binge eating to avoid military service
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S. Korea not to attend Sado mine memorial: foreign ministry
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Brazil wants Mexico to limit vehicle exports
SAO PAULO (AP) ― The Brazilian government officially asked Mexico to set a $1.4 billion annual limit on the auto exports it ships to Brazil, an official with direct knowledge of trade talks between the two nations said Friday.Brazil has threatened to scrap a decade-old automotive trade pact with Mexico and start charging tariffs on Mexican-built cars as it battles a growing trade deficit in the auto sector.Officials from the two nations have held talks since February in an effort to reach an acc
March 11, 2012
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More Iran-India trade would boost ties: delegation
TEHRAN (AFP) ― Boosting exports from India to Iran would not only help right lopsided trade but also deepen ties between the two countries, a major Indian delegation said on Saturday at the start of a five-day visit.“New Delhi is seeking to increase its exports to Iran and sees the increase in trade as a sign of deepening relations,” Rafeeq Ahmed, president of the government-backed Federation of Indian Export Organisations, told a Tehran meeting of Iranian businessmen.“New Delhi gives ample im
March 11, 2012
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EU to keep carbon tax on airlines
BRUSSELS (AFP) ― The European Union will maintain its carbon tax imposed on airlines operating in its airspace, the Danish climate minister said, despite retaliatory trade measures by China.As long as an international policy on carbon emissions by airlines is not found, the “EU will stick to its own ETS system,” Martin Lidegaard said on Friday. Denmark currently holds the EU’s rotating presidency.The carbon tax imposed on airlines by the European Union came into effect on Jan. 1, but carriers wi
March 11, 2012
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China records huge trade deficit
BEIJING (AFP) ― China swung into a huge trade deficit of $31.48 billion in February, customs data showed Saturday, as the West’s economic troubles hit the world’s second-largest economy.China is normally a net exporter of goods ― it recorded a surplus of $27.28 billion in January ― but total monthly imports rose 39.6 percent year-on-year to $145.96 billion, with exports only going up 18.4 percent to $114.47 billion.Chinese firms’ efforts to sell to the country’s major trading partners in the Wes
March 11, 2012
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Coke, Pepsi to cut level of ‘cancer’ chemical
WASHINGTON (AFP) ― Coca-Cola and Pepsi said Friday they will lower levels of a chemical in caramel coloring to comply with a California law, but insisted the beverages pose no health risks and recipes will not change.The changes allow the companies to avoid having to label products with a cancer warning due to what California has ruled are high levels of 4-methylimidazole, shown to cause cancer in lab rodents.Both drink makers said the popular soda recipes will not be affected but that caramel s
March 11, 2012
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Iceland will adopt euro or other currency, prime minister says
Iceland will either adopt the euro after joining the European Union or drop the krona and unilaterally adopt another currency as “the situation can’t remain unchanged,” said Prime Minister Johanna Sigurdardottir. “The choice is between surrendering the sovereignty of Iceland in monetary policy by unilaterally adopting the currency of another country or become a member of the EU,” Sigurdardottir said in a speech delivered at a Social Democrat Alliance party convention Saturday in Reykjavik, the c
March 11, 2012
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China says inflation, factory output slowing
BEIJING (AFP) -- China‘s inflation rate slowed sharply in February and factory output eased, data showed Friday, adding to evidence of a slowdown in the economy and giving Beijing more room to relax credit limits. The figures from the National Bureau of Statistics come as the economy faces headwinds over Europe’s debt crisis and sluggish growth in the United States, which are hurting export-driven China.The consumer price index rose 3.2 percent in February -- the lowest since June 2010 -- compar
March 9, 2012
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Greece secures high participation in bond swap
ATHENS, Greece (AP) -- Greece took a critical step toward staving off an imminent bankruptcy after securing the support of the vast majority of its bondholders to accept steep losses on their holdings of Greek debt, a move that should pave the way for the country's second massive international
March 9, 2012
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Celebrities brewing coffee sales for a cause
You know you like your cup of Joe in the morning. But are you ready for a cup of Hugh?We are, of course, talking about actor Hugh Jackman, who recently launched a coffee and tea company that raises money for charity.Philanthropy is the driving force behind Jackman's involvement in the coffee world.
March 9, 2012
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White House narrows list for next World Bank chief
Obama aides looked at MS's Bill Gates and PepsiCo's Indra Nooyi in early talksPresident Barack Obama and his advisers, casting a wide net for potential candidates to lead the World Bank, considered in initial discussions Microsoft Corp. Chairman Bill Gates, PepsiCo Inc. Chairman and Chief Executive Officer Indra Nooyi, and Brown University President Ruth Simmons, according to a person familiar with the White House search. Obama sought to look beyond the ranks of banking and government in seeking
March 8, 2012
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IMF moves toward new power reform: source
WASHINGTON (AFP) -- The International Monetary Fund’s executive board on Wednesday moved toward a fundamental restructuring of voting rights that will give more clout to emerging economies like China and Brazil, a source close to the board told AFP.The board agreed on the outlines of a new structure for setting voting power and contributions in the Washington-based lender that will recognize the rise of the emerging economies in the global economy, the source said.The reform still has to be defi
March 8, 2012
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Investors with 60% of Greek bonds agree to debt swap
Investors with about 60 percent of the Greek bonds eligible for the nation’s debt swap have so far indicated they’ll participate, putting the country on the verge of the biggest sovereign restructuring in history. Greece’s largest banks, most of the country’s pension funds, and more than 30 European banks and insurers including BNP Paribas SA, Commerzbank AG and Assicurazioni Generali SpA have agreed to the offer. That brings the total to about 124 billion euros ($163 billion), based on data com
March 8, 2012
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More natural gas vehicles hitting the market
More natural gas-powered vehicles will hit the market soon, as rising gasoline prices, booming natural gas production and proposed tax credits make them a more attractive option. But they’re a long way from being a common sight in U.S. driveways.Starting in July, Chrysler will sell a Ram 2500 Heavy Duty pickup that runs on compressed natural gas. The truck has both gasoline and natural gas storage tanks, and the engine shifts automatically between the two, without the driver needing to push a sw
March 8, 2012
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Forbes’ richest list grows to 1,226 globally
WASHINGTON (AFP) ― Mexico telecoms czar Carlos Slim topped the Forbes annual world’s richest list Wednesday, holding the edge over Microsoft’s Bill Gates who continued to give away billions of his fortune to charity.Despite a $6 billion hit to his wealth from slumping stock markets over the past year, Forbes said Slim’s $69 billion was enough to keep him on top of its global billionaires list for the third straight year.Gates, the co-founder of Microsoft, had a fortune worth $61 billion, still h
March 8, 2012
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Gates beats Ellison in daily ranking of tech billionaires
Gates, chairman of Redmond, Washington-based Microsoft, was worth $61.3 billion as of the close of U.S. trading Tuesday, down $805.4 million for the day, according to a daily ranking of the industry’s wealthiest titans compiled by Bloomberg News. Oracle Corp.’s Larry Ellison and Mark Zuckerberg, who runs Facebook Inc., ranked second and third, respectively. The ranking, published on Bloomberg.com, reflects how changes in markets and the economy affect the executives’ stakes in publicly traded an
March 7, 2012
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Europe economy shrinks as investment, exports fall
Europe’s economy contracted in the fourth quarter as investment declined by the most since 2009 and exports and consumer spending dropped. Gross domestic product shrank 0.3 percent from the third quarter, the European Union’s statistics office said Tuesday, confirming an estimate published on Feb. 15. Exports fell 0.4 percent after a 1.4 percent gain in the previous three months, while household spending declined 0.4 percent and investment dropped 0.7 percent. While Europe is facing its second r
March 7, 2012
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Congress approves punitive tariffs against China
U.S. acts to overturn court ruling that disallowed punitive tariffs against ChinaWASHINGTON (AP) ― Congress on Tuesday overturned a court decision and reaffirmed that the government has the right to impose higher tariffs on goods from China and other state-run economies that subsidize their exports to the United States. The House voted 370-39 to pass the measure and send it to President Barack Obama for his signature. The Senate approved it Monday on a voice vote with no debate. “By passing this
March 7, 2012
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Apple, Google dominate U.S. smartphone market: ComScore
Apple Inc. and Google Inc.’s Android consolidated their control of the U.S. smartphone market in the three months ended January, with three out of four devices using their software, ComScore Inc. said Tuesday. Apple software was found in 29.5 percent of U.S. smartphones, on average, in the period, up from 28.1 percent in the prior three months, Reston, Virginia-based researcher ComScore said in a statement Tuesday. Smartphones using Google’s Android had 48.6 percent market share, up 2.3 percent
March 7, 2012
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Tumor-causing chemical found in Coca-Cola, Pepsi, group says
U.S. regulators, reviewing an advocacy group’s complaint that a chemical used in colas causes tumors in animals, said there’s no immediate risk to consumers from the substance. A person would have to drink more than a thousand cans of soda in a day to match the doses administered in studies that showed links to cancer in rodents, Douglas Karas, a U.S. Food and Drug Administration spokesman, said in a statement. The Center for Science in the Public Interest, a consumer-health group in Washington,
March 6, 2012
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China considers expanding yuan’s trading band
China may “appropriately” widen the yuan’s trading band to better reflect market supply and demand, the official Xinhua News Agency reported, citing People’s Bank of China Governor Zhou Xiaochuan. Zhou said the yuan has gradually met the requirements to become more of a free-floating currency, Xinhua reported. As China improves its industrial structure and gradually reduces its trade surplus, the yuan is now moving “very close” to a “balanced level,” Xinhua reported in English, citing Zhou. The
March 6, 2012
