The Korea Herald

VW and BMW lead European car sales gains on new models

A pedestrian passes a Volkswagen dealership in Berlin, Germany. (Bloomberg)Volkswagen AG and Bayerische Motoren Werke AG led gains in European car sales as new models propelled demand and the German carmakers’ home market grew. Registrations climbed 1.1 percent to 1.27 million vehicles from 1.26 mil

Oct. 19, 2011

VW and BMW lead European car sales gains on new models

Occupy Wall Street

Members of Service Employees International Union march from the encampment at City Hall, center, Tuesday, Oct. 18, 2011, in Philadelphia. The encampment at City Hall is one of many being held across the country recently in support of the ongoing Occupy Wall Street demonstration in New York. (AP-Yonh

Oct. 19, 2011

In rare miss, Apple 4Q earnings disappoint

NEW YORK (AP) — Apple, the juggernaut of consumer electronics, stumbled in its latest quarter, as the later-than-usual launch of the new iPhone held back sales.On Tuesday, Apple reported earnings and revenue that came in below analyst expectations, sending its stock down 7 percent.It was a rar

Oct. 19, 2011

RIM tries to soothe angry customers

TORONTO (AP) ― The maker of the struggling BlackBerry tried to soothe tens of millions of frustrated customers Monday, offering more than $100 worth of free software to each one and giving some a month of technical support as compensation for last week’s massive outage.But some BlackBerry users and

Oct. 18, 2011

U.S. industrial output rises on demand for cars, computers

Industrial production in the U.S. advanced in September on growing demand for automobiles and computers after stalling the prior month, a sign manufacturers are contributing to growth. Output at factories, mines and utilities increased 0.2 percent, in line with the median estimate in a Bloomberg New

Oct. 18, 2011

U.S. industrial output rises on demand for cars, computers

Germany dampens expectations

German finance minister says no euro debt solution this weekendBerlin dampened expectations Monday that an upcoming EU summit will finally provide a solution to the eurozone debt crisis, amid warnings that market instability is damaging the real economy.Financial markets and the euro both rallied ea

Oct. 18, 2011

China's economic growth slows to 9.1 percent in Q3

HONG KONG, Oct. 18 (Yonhap) -- China's economic growth slowed in the third quarter of the year from three months earlier, the statistical agency said Wednesday, amid the country's continuous monetary tightening and uncertainties of the global economy. The country's gross domestic product (GDP) grew

Oct. 18, 2011

Stocks slide as Germany cools hope for debt deal

NEW YORK (AP) -- A week ago, markets were soaring on hopes that a fix for Europe's debt crisis was near. On Monday, stocks had their worst drop in two weeks after German leaders cast doubt on how fast that process would be.Expectations that a resolution to the crisis could be reached at a European s

Oct. 18, 2011

Spain faces hard 2011 with big deficit: analysts

MADRID (AFP) ― Spain is on track to miss key targets for economic growth and deficit-cutting in 2011, analysts say, a grim scenario that is pounding its credit rating.Standard & Poor’s downgraded Spain’s credit rating Friday by a notch to “AA-,” a week after its rival Fitch Ratings sliced the rating

Oct. 17, 2011

China growth may top 9 percent

China’s economy probably grew more than 9 percent in the third quarter, indicating the nation remains an engine of global growth even as Europe grapples with the sovereign debt crisis and the U.S. recovery falters. Gross domestic product increased 9.3 percent from a year earlier, according to the me

Oct. 17, 2011

Hong Kong starts trading bullion in yuan

Hong Kong’s Chinese Gold & Silver Exchange Society, a century-old bullion bourse, will start trading gold quoted in yuan Monday, boosting the city’s status as an offshore hub for the currency. The gold product may generate as much as HK$6 billion ($770 million) in trades a day, exchange President Ha

Oct. 17, 2011

Hong Kong starts trading bullion in yuan

Silicon Valley elite honor Jobs

PALO ALTO, California (AFP) ― Silicon Valley nobility paid tribute to revered Apple co-founder Steve Jobs on Sunday at a private memorial service held under tight security at Stanford University.Security teams from Apple and Stanford along with local police officers cordoned off the main quad on cam

Oct. 17, 2011

Security heavy at private service for Steve Jobs

PALO ALTO, California (AP) -- Security is heavy at Stanford University as some of Silicon Valley's elite gather for a private memorial for Apple Inc. co-founder Steve Jobs.Attendees arrive for the private memorial service for Steve Jobs at Stanford University, Sunday, Oct. 16, 2011, in Stanfor

Oct. 17, 2011

Security heavy at private service for Steve Jobs

U.S. retail sales rise strongly led by autos

WASHINGTON (AP) ― U.S. consumers stepped up their spending on retail goods in September, a hopeful sign for the sluggish economy.They spent more on autos, clothing and furniture last month to boost retail sales 1.1 percent, the Commerce Department said Friday. It was the largest gain in seven months

Oct. 16, 2011

U.S. retail sales rise strongly led by autos

Lines for iPhone turn into Jobs memorials

NEW YORK (AP) ― It wasn’t just the latest iPhone that drew people to Apple stores Friday. Many consumers waited in lines for hours ― sometimes enduring chilly temperatures and overnight thunderstorms ― to remember Steve Jobs, Apple’s visionary who died last week. The company’s first iPhone release s

Oct. 16, 2011

'Angry Birds' maker may hold IPO in 2012, Mighty Eagle says

Rovio Entertainment Oy, the Finnish creator of “Angry Birds” mobile-phone games, may sell shares to the public as early as next year and is probably worth more than $1 billion, its chief marketing officer said. "We’re not ready to file for an IPO tomorrow,” Peter Vesterbacka, who also goes by the ti

Oct. 15, 2011

S&P lowers Spain rating by a notch

WASHINGTON (AFP) ― Standard & Poor’s cut Spain’s long-term credit rating by one notch to “AA-” from “AA” with a negative outlook, following downgrades to the country’s top banks. S&P said Spain’s high unemployment, tighter financial conditions and “the likely economic slowdown in Spain’s main tradin

Oct. 14, 2011

China unveils rule on foreign direct investment in yuan

HONG KONG (Yonhap) -- China promulgated Friday a rule on foreign direct investment (FDI) made in the yuan, a move seen to promote the use of the Chinese currency by foreign investors.The central People's Bank of China (PBOC) announced it has issued regulations about FDI settled in the Chinese curren

Oct. 14, 2011

Slovakia approves expanded eurozone bailout fund

BRATISLAVA, Slovakia (AP) -- Slovakian lawmakers on Thursday approved expanding the size and powers of the EU bailout fund, overcoming an earlier rejection and removing the last hurdle to the fund's use as the continent's main weapon against the debt crisis.The parliament had rejected the changes to

Oct. 14, 2011

Computer sales slow as people turn to tablets

Visitors try Samsung Electronics Co. Galaxy Tab 10.1 tablet computers at the company’s headquarters in Seoul. (Bloomberg)SAN FRANCISCO (AFP) ― Gartner research on Wednesday reported that worldwide sales of personal computers slowed in the recently ended quarter as people opted to spend money on smar

Oct. 13, 2011

Computer sales slow as people turn to tablets