Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
Defense ministry denies special treatment for BTS’ V amid phone use allegations
-
3
OpenAI in talks with Samsung to power AI features, report says
-
4
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
5
Two jailed for forcing disabled teens into prostitution
-
6
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
7
S. Korea not to attend Sado mine memorial: foreign ministry
-
8
South Korean military plans to launch new division for future warfare
-
9
Kia EV9 GT marks world debut at LA Motor Show
-
10
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
-
Emerging markets hit by signs U.S. Fed will close cash tap
Investors have begun pulling money out of emerging economies mainly because they think that the U.S. Federal Reserve central bank may be about to wind down its easy-money policy which has supported the economy and pushed funds into the financial system.This prospect has reduced the willingness of fund managers to take risks even though only a few months ago their focus was more on a rapid rise of stock markets and signs that maybe assets prices were overheating.At HSBC Global Asset Management Fr
June 14, 2013
-
FX rates may face global regulation
Global regulators may start overseeing currency rates in a widening response to benchmark-rate setting scandals that began with revelations on the manipulation of Libor, according to two people familiar with the matter.The International Organization of Securities Commissions, a Madrid-based group known as Iosco that harmonizes market rules, may propose final guidelines improving transparency and oversight of benchmarks, including the WM/Reuters rates, as soon as next month, said the people, who
June 14, 2013
-
Britain probes allegations of forex manipulation
LONDON (AFP) ― Britain’s markets watchdog is holding talks with “relevant parties” over allegations of foreign exchange market manipulation by banks, a spokesman said on Thursday.“The Financial Conduct Authority is aware of these allegations and has been speaking to the relevant parties. However, we can’t comment further at this time,” an FCA spokesman told AFP.The Financial Times, citing sources, said the FCA had requested information from several banks with large London foreign exchange busine
June 13, 2013
-
U.K. lawmaker accuses Google of dodging taxes
LONDON (AP) ― A key British lawmaker accused search giant Google of dodging its taxes on Thursday, issuing a scathing report that accuses the U.S. Internet company of taking on highly contrived arrangements serving no purpose other than to avoid paying its fair share. The report came after testimony by Google Vice President Matt Brittin, who tried to persuade members of Britain’s parliamentary Public Accounts Committee that his company was transparent and fair. Committee chair Margaret Hodge rej
June 13, 2013
-
Facebook starts first non-U.S. servers
STOCKHOLM (AP) ― Facebook on Wednesday started processing data through its first server farm outside the United States, on the edge of the Arctic Circle in Sweden. The company inaugurated servers in about half of its new, 28,000-square meter facility outside the city Lulea Wednesday, saying it should improve the social network’s performance in Europe. Facebook director of site operations Tom Furlong told the Associated Press the company will expand capacity at the site gradually to serve a large
June 13, 2013
-
Swiss upper house approves secretive U.S. bank deal
GENEVA (AFP) ― Switzerland’s upper house of parliament voted Wednesday in favor of a secretive deal between Bern and Washington to settle a legal battle over Swiss banks’ alleged complicity in tax evasion by Americans.Twenty-four members of the Council of States voted in favor of the so-called “Lex USA” deal, while 15 were opposed and two abstained.To come into force, the controversial accord must now clear Switzerland’s lower house, or National Council, which is expected to vote next Tuesday.At
June 13, 2013
-
World Bank sees less global growth, more stability
The World Bank on Wednesday lowered its growth estimate for the global economy in 2013, but said that expansion appeared better balanced than just before the 2008 financial crisis.The global economy was expected to grow at an annual rate of 2.2 percent this year, led by a 5.1 percent surge in developing countries, down from a January estimate of a 2.4 percent."The overall acceleration is not stronger because the majority of developing countries have more-or-less fully recovered from the 2008 fin
June 13, 2013
-
EU nations battle over air traffic control plans
A massive battle is taking place in the skies over Europe _ and airplane passengers across the continent are feeling its effects.A plan to simplify the European Union's patchwork air traffic control system and open up more air traffic duties to private enterprise has sparked strikes and job actions by controllers that began Tuesday in France and were to spread Wednesday to 10 other European nations.Nearly two decades after the 27-nation EU began eliminating checks along its land borders, its air
June 12, 2013
-
SoftBank raises Sprint bid to $21.6 billion
SoftBank Corp. agreed to raise its offer for Sprint Nextel Corp. by 7.5 percent to $21.6 billion, countering Dish Network Corp.’s unsolicited proposal of $25.5 billion for the third-largest U.S. wireless carrier. SoftBank will pay $16.6 billion to Sprint shareholders and inject $5 billion of new capital into the target company for a 78 percent stake, the Tokyo-based mobile-phone carrier said in a statement Tuesday. That compares with the company’s October offer of $20.1 billion for a 70 percent
June 11, 2013
-
BOJ: Economy ‘picking up’
TOKYO (AFP) ― The Bank of Japan said Tuesday the economy was “picking up” and held off ramping up April’s huge stimulus scheme, but warned of possible headwinds caused by uncertainty in Europe and the United States.The announcement came a day after data showed the economy grew faster than expected in the first quarter of 2013 but sent the yen rallying and stocks tumbling as investors were left disappointed“Japan’s economy has been picking up,” the bank said in a statement, adding that capital sp
June 11, 2013
-
Apple offers music streaming service, iTunes Radio
Apple unveiled a long-expected Internet radio service called iTunes Radio on Monday and said it will personalize listeners' music based on what they've listened to and what they've purchased on iTunes.Apple said iTunes Radio will be available this year in the U.S. It will be free with advertisements included, although subscribers of Apple's iTunes Match music-storage service will get a commercial-free version. That service costs $25 a year.In unveiling the service at its Worldwide Developers Con
June 11, 2013
-
IEA: Energy emissions rose to record high in 2012
The world's energy-related carbon dioxide emissions rose 1.4 percent in 2012 to a record high of 31.6 billion tons, even though the U.S. posted its lowest emissions since the mid-1990s, the International Energy Agency said Monday.In its annual World Energy Outlook report, the Paris-based IEA said top carbon polluter China had the largest emissions growth last year, up 300 million tons, or 3.8 percent, from 2011. Still, the increase was among the lowest seen in a decade as China continues to inve
June 11, 2013
-
S&P boosts outlook for U.S. gov't's long-term debt
Standard & Poor's Ratings Services upgraded its outlook Monday for the U.S. government's long-term debt. S&P cited the government's strengthened finances, a recovering U.S. economy and some easing of Washington's political gridlock.The credit rating service raised its outlook to “Stable” from “Negative,” which means it's less likely to downgrade U.S. debt in the near future.S&P also reaffirmed the government's “AA+” long-term and “A-1+” short-term unsolicited sovereign credit ratings. The long-t
June 11, 2013
-
Apple revamps look of iPhone, iPad software
SAN FRANCISCO -- Apple is throwing out most of the real-world graphical cues from its iPhone and iPad software in what it calls the biggest update since the iPhone's launch in 2007. The new operating system, called iOS 7, strives for a clean, simple, translucent look. Apple is redesigning all its applications and icons to conform to the new look, driven by long-time hardware design chief Jony Ive. Apple demonstrated the new software at the Worldwide Developers Conference in San Francisc
June 11, 2013
-
Smartphone life shakes up website world
SAN FRANCISCO (AFP) ― Internet giants from Google and Facebook to Yahoo and Zynga are scrambling to adapt to an online world where people reach for smartphones or tablets instead of traditional computers.Social games pioneer Zynga, which rose to stardom making titles played at Facebook’s website, is cutting nearly a fifth of its staff as part of a move to focus on titles for mobile gadgets.After taking over as chief executive at Yahoo last year, former Google executive Marissa Mayer laid out a t
June 10, 2013
-
Google is said to be acquiring Waze for $1.1b
Google Inc. has agreed to acquire map-software provider Waze Inc. for about $1.1 billion, a person with knowledge of the deal said, seeking to keep competitors such as Facebook Inc. from eroding its lead in mobile-navigation programs. The deal for Waze, based in Palo Alto, California, may be announced as early as tomorrow, said the person, who asked not to be named because the plans are private. As consumers shift toward smartphones and tablets and away from personal computers, Facebook and Goog
June 10, 2013
-
China’s leaders face test of growth resolve after May slowdown
China’s new leaders face a test of their resolve to forgo short-term stimulus for slower, more-sustainable growth after May trade, inflation and lending data trailed estimates, signaling weaker global and domestic demand. Industrial production rose a less-than-forecast 9.2 percent from a year earlier and factory-gate prices fell for a 15th month, National Bureau of Statistics data showed Sunday in Beijing. Export gains were at a 10-month low and imports dropped after a crackdown on fake trade in
June 10, 2013
-
Japanese economy heats up in Q1
TOKYO (AFP) ― Japan’s economy expanded faster than previously thought in the first three months of the year, according to fresh data Monday that was likely to boost support for Tokyo’s efforts at stoking growth.The Cabinet Office said revised data showed annualized growth came in at 4.1 percent in January-March, up from a preliminary reading of 3.5 percent and well ahead of many other industrialized nations who are struggling to stoke their economies.The figures come days after Prime Minister Sh
June 10, 2013
-
Wal-Mart unveils $15 billion share buyback program
NEW YORK (AFP) ― U.S. retail behemoth Wal-Mart on Friday announced a $15 billion share repurchase program, citing the continued benefits of the company’s strong cash flow.Wal-Mart Stores said the new share repurchase plan replaces a previous $15 billion share repurchase plan announced in 2011.Wal-Mart said the 2011 share repurchase authorization has approximately $712 million remaining. A company news release did not say whether Wal-Mart would complete 2011 program before moving to the new progr
June 9, 2013
-
Abe hints at possible delay in tax hike
TOKYO (AFP) ― Japan’s Prime Minister Shinzo Abe said Sunday an upper house election will take place on July 21 and voiced the possibility of delaying a consumption tax hike scheduled for next year if the economy remains weak.Abe, in a live interview with national broadcaster NHK, also pledged a “dramatic” tax break in the autumn to encourage investment, calling it the second phase of his broad growth measures.He stressed that his basic policy was to raise the five percent consumption tax to eigh
June 9, 2013
