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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Eurozone strikes 159-billion-euro Greece rescue
BRUSSELS (AFP) -- Eurozone leaders agreed Thursday, alongside the private sector, to pour another 159 billion euros into Greece to stop debt contagion across Europe, even at the risk of triggering a dramatic default.The private finance sector agreed to provide 50 billion euros of funding which will be added to 109 billion euros from European governments and the International Monetary Fund, in a de
July 22, 2011
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Eurozone offers Greece lifeline, with default risk
BRUSSELS (AFP) -- Eurozone leaders offered Greece on Thursday some respite from its crippling debt burden while warning Athens could still face a dramatic default as they battled to prevent the debt crisis from spreading.The eurozone will provide Greece fresh loans, take steps to reduce the country's 350-billion-euro debt and open the door for the private sector to contribute to a second bailout,
July 21, 2011
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Intel and Qualcomm show changing face of computing
SAN FRANCISCO (AP) ― The changing face of the computer industry was on display Wednesday as two companies representing the old guard and the new issued strong results for the latest quarter.Intel, a bedrock of the PC business, and Qualcomm, a vanguard in mobile computing, showed how companies at opposite ends of the computing spectrum are adapting to a market that’s in intense upheaval. The Intel
July 21, 2011
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Nokia set for fresh smartphone pain
July 21, 2011
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Obama open to short-term debt fix if deal agreed
July 21, 2011
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Obama holds new crisis debt talks
WASHINGTON (AFP) – U.S. President Barack Obama met separately Wednesday with his top Democratic allies and Republican foes to hammer out a compromise that would avert a disastrous early August debt default.But the negotiations wrapped up without news of a breakthrough.With an August 2 deadline looming, White House spokesman Jay Carney said Obama would accept a short-term deal to raise the debt cei
July 21, 2011
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Merkel, Sarkozy agree on Greek rescue package
BERLIN (AFP) -- German Chancellor Angela Merkel and French President Nicolas Sarkozy agreed early Thursday on a "joint position" concerning a Greek rescue package, a French delegation source said.This position, reached after hours of discussions, would be submitted to EU president Herman van Rompuy overnight and would be the basis for discussions among eurozone leaders in Brussels on Thursday, th
July 21, 2011
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Goldman humbled by weak earnings
July 20, 2011
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‘Economic impact of BOJ asset buying unclear’
July 20, 2011
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`Cut cap and balance' debt measure passes House
WASHINGTON (AP) -- The House of Representatives has passed legislation conditioning a $2.4 trillion increase in the nation's borrowing cap on a tea party-backed plan to require immediate spending cuts and a constitutional amendment requiring a balanced budget.The 234-190 vote sends the ``cut, cap and balance'' plan to the Democratic-controlled Senate, where it has virtually no chance of passing.Wi
July 20, 2011
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Apple results strong; record iPhone, iPad sales
NEW YORK (AP) -- The iPhone is conquering Asia, the home of its strongest competitors. Sales there nearly quadrupled from a year ago and helped Apple Inc. trump analyst expectations for yet another quarter.Apple also said iPad sales worldwide nearly doubled from a quarter ago, a sign that it has left the worst of its supply problems behind.Apple's stock surged nearly 5 percent after the results ca
July 20, 2011
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Italy financial markets slump on debt fears
MILAN (AFP) ― Italian financial markets fell sharply on Monday, with investors finding no reassurance in the adoption of a huge austerity budget as the eurozone debt crisis savaged confidence.Milan’s main index, the FTSE MIB, fell steadily through the day and closed down 3.06 percent at 17.885,74 points, with bank shares the worst hit. A man looking a stock exchange board monitor is reflected in
July 19, 2011
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Fears about debt send gold price to record
NEW YORK (AP) ― Gold’s reputation as a safe place for your money sent it above $1,600 for the first time.Investors are worried about debt problems on both sides of the Atlantic. So they bid gold up $12.30 an ounce Monday to settle at $1,602.40. That’s a record for the market price for gold, but below its 1980 peak after adjusting for inflation. An ounce of gold at that time cost $850, or about $2,
July 19, 2011
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‘Global consumer confidence at lowest since late 2009’
July 18, 2011
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What happens to markets if the U.S. defaults?
NEW YORK (AP) ― Time is running out for Washington to raise the country’s borrowing limit and avoid a default. Wall Street isn’t panicking yet. But if the unthinkable happens, a default could strike financial markets like an earthquake.“If we just get higher longer-term interest rates, we’d be lucky,” said John Briggs, Treasury strategist at the Royal Bank of Scotland.What might markets look like
July 18, 2011
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Pressure rises for Greek debt buy-back, swap
July 18, 2011
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Ratings agencies under attack amid debt crisis
PARIS (AFP) - Ratings agencies are again under attack, with EU leaders objecting that Standard&Poor's, Moody's and Fitch Ratings are an "oligopoly" which issues self-fulfilling prophecies of doom, greatly aggravating the eurozone debt crisis.The EU's Internal Markets Commissioner suggested a partial gag to prevent them from grading debt issued by EU economies being rescued with official funds.Ther
July 18, 2011
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S&P warns it may downgrade Fannie, Freddie credit ratings
WASHINGTON (AP) ― Standard & Poor’s warned mortgage lenders Fannie Me and Freddie Mac on Friday that they may lose their top credit ratings if lawmakers don’t raise the U.S. government’s borrowing limit in time to avoid a default.S&P said government-controlled Fannie and Freddie, along with certain Federal Home Loan Banks and Farm Credit System Banks, could also default on their debts, given each
July 17, 2011
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Regulators close four small banks in three states
WASHINGTON (AP) ― Regulators on Friday shut down four small banks in three states, boosting to 55 the number of U.S. bank failures this year.The overall pace of closures, however, has slowed this year as banks work their way through piles of bad debt. A slow, but improving U.S. economy also has helped stem the number of bank casualties this year. By this time last year, regulators had closed 96 ba
July 17, 2011
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Eight banks flunk European stress test
FRANKFURT, Germany (AP) ― Eight of 90 European banks flunked stress tests projecting how they would fare in another recession, and 16 more barely passed ― but analysts doubted Friday’s results would succeed in restoring confidence in the continent’s shaky financial sector.Some countries challenged the results as inaccurate and overly pessimistic, saying they would not force their weaker banks to r
July 17, 2011
