The Korea Herald

Sept. 25, 2011

Groupon says sales half earlier figure, loses COO

SAN FRANCISCO (AP) ― Groupon Inc. chopped its stated revenue by more than half in an updated SEC filing Friday as it corrected the way it accounts for money it receives selling coupons. The online deal site also said that its chief operating officer, Margo Georgiadis, has gone back to Google, where

Sept. 25, 2011

Groupon says sales half earlier figure, loses COO

UBS CEO resigns over rogue trading loss

Gruebel resigns over $2.3b rogue trading loss; bank to restructure investment unitGENEVA (AP) ― UBS chief executive Oswald Gruebel has resigned over a $2.3 billion loss caused by rogue trading at its investment division, which is to be restructured now to prevent similar incidents in future, the Swi

Sept. 25, 2011

Lagarde: Global economy enters ‘dangerous phase’

WASHINGTON (AP) ― The head of the International Monetary Fund says the global economy has entered a dangerous phase and that heavy debt burdens could “suffocate” a recovery. Nations must work together to meet the growing risks, IMF Managing Director Christine Lagarde said Thursday. Banks must provid

Sept. 23, 2011

Greece closer to getting bailout

International debt inspectors to return to Athens next weekATHENS (AP) ― Debt-saddled Greece has moved closer to getting the vital bailout funds it needs to avoid a disastrous default after persuading international debt inspectors to return to Athens and resume reviewing its austerity program.T

Sept. 21, 2011

Fed begins meeting, tiptoes toward easing

Sept. 21, 2011

EU, IMF raise concerns over bank capital

EU official warns more banks may need recapitalization; IMF calls for higher buffersBRUSSELS (AP) ― The European Union and the International Monetary Fund on Tuesday raised concerns over the health of European banks as the continent’s debt crisis worsens.The EU’s competition commissioner warned that

Sept. 21, 2011

EU, IMF raise concerns over bank capital

Are Netflix’s best days over?

NEW YORK (AP) ― Netflix is trying to boost business by chopping its services into two separate parts. Unfortunately for investors, the company’s stock price is what’s really been cleaved.The company that once seemed like it could do no wrong has seen its stock lose half its value in the last two mon

Sept. 20, 2011

Over 500 villagers protest pollution from China factory

SHANGHAI (AP) ― Police detained at least 20 people after hundreds of villagers in eastern China demonstrated against pollution they blame on a solar panel factory, with some protesters storming the compound and overturning vehicles, local authorities said Monday.The government in Haining city, west

Sept. 19, 2011

Over 500 villagers protest pollution from China factory

China Southern A380 threats Cathay Pacific

China Southern Airlines Co.’s focus on domestic flights made it Asia’s largest carrier by passengers. Now, it’s adding Airbus SAS A380s to help challenge Cathay Pacific Airways Ltd. and Singapore Airlines Ltd. on routes to Europe and North America. The carrier, which flew 76.5 million passengers las

Sept. 18, 2011

GM, UAW agree on new contract

DETROIT (AP) ― The United Auto Workers union won $5,000 signing bonuses and the possibility of sweeter profit-sharing checks as part of a new four-year contract with General Motors Co., two people briefed on the talks said Saturday.The deal, which was reached late Friday, also includes a $2- to $3-p

Sept. 18, 2011

Pass jobs bill without ‘division or delay’: Obama

WASHINGTON (AP) ― President Barack Obama is keeping up his appeal for public support of his $447 billion proposal to boost jobs and consumer spending by urging Americans to press Congress to pass the legislation. “No more division or delay,” he said.In his weekly radio and Internet address Saturday,

Sept. 18, 2011

Phone rivalry drives down RIM earnings

BlackBerry maker struggles to compete with Apple, Google’s AndroidTORONTO (AP) ― Shares of Research In Motion plummeted more than 18 percent after hours after the BlackBerry maker reported its net income and revenue declined sharply in its fiscal second quarter.The results show continued struggle to

Sept. 16, 2011

U.S. retail sales flat, auto demand declines

WASHINGTON (AP) ― Consumers spent less on autos, clothing and furniture to leave retail sales unchanged in August.The lack of growth suggests households became more cautious during wild stock market fluctuations and increased fears about the economy.The Commerce Department also said Wednesday that r

Sept. 15, 2011

U.S. retail sales flat, auto demand declines

MS sees Windows as key to growth plan

Ballmer assures analysts Windows remains solid foundation despite slowing PC salesSAN FRANCISCO (AP) ― Microsoft CEO Steve Ballmer assured analysts on Wednesday that Windows remains the software maker’s financial foundation, even though slowing personal computer sales are raising worries about the o

Sept. 15, 2011

Italy gives final approval to austerity plan

ROME (AP) ― Italy’s Parliament gave final approval to Premier Silvio Berlusconi’s government’s austerity measures, a combination of higher taxes, pension reform and slashed spending that sparked street protests in Rome.The Chamber of Deputies passed the package by a vote of 314-300. The Senate, Parl

Sept. 15, 2011

Fitch downgrades five Spanish regions

MADRID (AFP) ― Fitch Ratings on Wednesday downgraded the credit of five Spanish regions, including the powerhouse of Catalonia, warning they will struggle to cut deficits in a weak economy.The red ink running through the accounts of Spain’s regional governments is a major concern for the markets, wh

Sept. 15, 2011

Airlines plan to reduce flying next year

Airlines are putting next year’s growth plans on hold, with high fuel prices and a sluggish economy forcing them to reconsider which flights make money and cut the ones that won’t.Delta Air Lines Inc. said it will reduce 2012 flying by 2 percent to 3 percent. The company that runs United and Contine

Sept. 14, 2011

Airlines plan to reduce flying next year

Toyota resumes full N. American output, plans engine increase

Toyota Motor Corp. resumed full production at all North American plants this week and said it will expand U.S. output of small engines as Japan’s largest automaker works to boost sales slowed by a March earthquake. As of this week, “all plants and suppliers in North America are at full speed, and mo

Sept. 14, 2011

Nintendo targets women to spur sales of 3DS

Nintendo Co., the world’s biggest maker of game players, will add functions to its 3DS and target women to spur demand, after sales of the device slumped and led the company to slash its profit forecast to a 26-year low.The upgrades will include a feature to allow users to record movies in 3-D, Pres

Sept. 13, 2011