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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Man convicted after binge eating to avoid military service
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First snow to fall in Seoul on Wednesday
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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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S. Korea not to attend Sado mine memorial: foreign ministry
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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Job creation lowest on record among under-30s
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Tobacco firms sue FDA over new labeling rule
COLUMBIA, South Carolina (AP) ― Four of the five largest U.S. tobacco companies sued the federal government Tuesday over new graphic cigarette labels that include the sewn-up corpse of a smoker and a picture of diseased lungs, saying the warnings violate their free speech rights and will cost millio
Aug. 17, 2011
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Merkel, Sarkozy propose eurozone government
PARIS (AP) -- The leaders of France and Germany called Tuesday for greater economic discipline and unity among European nations but declined to take immediate financial measures seen by many investors as the only way to halt the continent's spiraling debt crisis.The Dow Jones industrial average fell
Aug. 17, 2011
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Buffett calls for more taxes on ‘mega-rich’
NEW YORK (AP) ― Billionaire investor Warren Buffett is calling on the “mega-rich” to pay more in taxes.Buffett said Monday in a New York Times opinion piece that he would immediately raise rates on households with taxable income of more than $1 million, and he would add an additional increase for th
Aug. 16, 2011
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Asian stocks higher on Japan economic news
BANGKOK (AP) ― Asian stock markets rose Monday as data showed the economy of earthquake-battered Japan shrank less than expected.Oil prices hovered above $85 a barrel as investor worries began to ease after Wall Street closed in positive territory Friday after a dizzying week of sharp gains and loss
Aug. 15, 2011
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Central bank action eases Europe’s crisis, for now
FRANKFURT, Germany (AP) ― The European Central Bank pulled Italy and Spain back from immediate financial disaster on Monday, driving down the countries’ dangerously high interest rates by buying up billions of euros worth of their bonds on the open market.But the rescue mission does not address the
Aug. 15, 2011
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‘More dangerous’ times ahead: World Bank chief
SYDNEY (AFP) ― World Bank chief Robert Zoellick on Saturday warned of a “new and more dangerous” time in the global economy, as Europe struggles to resolve its debt crisis.Zoellick said the eurozone’s sovereign debt issues were more troubling than the “medium and long-term” problems which saw the Un
Aug. 14, 2011
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French growth sputters to a halt in 2nd quarter
PARIS (AP) -- The French government was put under further pressure to cut deeper into spending after figures Friday showed growth in Europe's second biggest economy ground to a halt in the spring, in another sign that the global economy is facing rising recessionary threats.With the worse-than-expec
Aug. 12, 2011
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No quick exit for eurozone from debt crisis
FRANKFURT, Germany (AP) ― Twenty-one months after Greece triggered financial and political turmoil by admitting it was broke, the eurozone still can’t fix its debt crisis.The reasons: intractable disputes over who will ultimately pay the costs of saving it, and the still-unadressed vulnerability tha
Aug. 12, 2011
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All options on table to halt franc rise: Swiss central bank
ZURICH (AFP) ― The Swiss National Bank said on Thursday that it was keeping open all options to bring down the “massively” overvalued safe-haven franc, including pegging it to the euro as well as imposing a negative interest rate.In separate interviews published in the Swiss national press, top Swis
Aug. 12, 2011
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Chinese bullet train maker orders recall
BEIJING (AP) ― A Chinese bullet train manufacturer announced a recall Friday of 54 trains in the latest embarrassment for a problem-plagued prestige project following a July crash that killed 40 people.The recall adds to growing signs official attitudes toward the bullet train are shifting and Beiji
Aug. 12, 2011
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Fake iPhone5 sells in China
Infamous technology pirates in China have done it again. This time the target was Apple’s iPhone 5, expected to be launched in a few months. The Chinese version is called hiPhone 5. The phone was based on leaked information on the new iPhone 5. It was much slimmer and lighter and the price was only
Aug. 11, 2011
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Asian stocks bounce back on Fed’s move
HONG KONG (AFP) ― Asian stocks rallied in early trade Wednesday, part of a global uptick after the U.S. Federal Reserve pledged to keep interest rates near zero for at least two years.Tokyo rose 1.05 percent, or 94.26 percent, to 9,038.74, Sydney added 2.64 percent, or 106.5 points, to 4,141.3 and S
Aug. 10, 2011
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Spain rejects need for rescue, bonds strengthen
MADRID (AFP) ― Spain rejected outright Tuesday any need for a rescue to avert a sovereign debt crisis even as European Central Bank intervention halted a market attack on its bonds.Fears that the major European economies of Spain and Italy could be the next dominoes of a widening eurozone debt crisi
Aug. 10, 2011
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Regulator sues Goldman over risky mortgages
LOS ANGELES (AP) ― The U.S. regulator of credit unions on Tuesday sued Goldman Sachs & Co. for more than $491 million in damages over losses incurred by two failed credit unions that purchased mortgage-backed securities underwritten by the investment bank.The complaint filed by the National Credit U
Aug. 10, 2011
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Treasury prices jump as stocks plummet
NEW YORK (AP) -- A cut to the U.S. government's credit rating by Standard & Poor's was supposed to send Treasury prices down and interest rates up. But just the opposite happened. So why would investors buy U.S. government debt after it was downgraded from AAA to AA+ last Friday? In a word, fear.“Fe
Aug. 9, 2011
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Oil down over 6 pct after US credit downgrade
NEW YORK (AP) -- Oil plunged to its lowest price of the year Monday on concerns about the slowing global economy and future demand for oil and gas.Benchmark West Texas Intermediate crude fell $5.57, or 6.4 percent to settle at $81.31 per barrel on the New York Mercantile Exchange. That is the lowest
Aug. 9, 2011
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Questions and answers about the market's turmoil
NEW YORK (AP) -- Global stock markets tumbled Monday on the first trading day since Standard & Poor's downgraded long-term U.S. debt. The plunge came as investors grew anxious over a weakening U.S. economy and a widening debt crisis in Europe.Not everything went as expected. Some analysts had worrie
Aug. 9, 2011
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U.S. markets fall sharply, Dow down more than 450
NEW YORK (AP) -- The U.S. stock market joined a sell-off around the world Monday in the first trading since Standard & Poor's downgraded American debt.The Dow Jones industrial average fell more than 450 points in afternoon trading. Treasury prices rose -- despite S&P's assessment that they wer
Aug. 9, 2011
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Asia turns to South American markets
TOKYO (AFP) ― When Japanese beverage giant Kirin said this week it would take a large stake in Brazil’s Schincariol, it was the latest example of Asia’s growing thirst for South American markets and resources.In the same week, China’s JAC Motors said it would invest 900 million dollars in an auto pl
Aug. 8, 2011
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Geithner says he will stay ...at Treasury
WASHINGTON (AP) ― Timothy Geithner has told President Barack Obama that he will remain on the job as Treasury secretary, ending speculation he would leave the administration.The Treasury Department released a statement Sunday saying Geithner had informed the president of his decision to remain in th
Aug. 8, 2011
