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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Juncker warns debt crisis in Greece could be contagious
BERLIN (AP) ― Contagion from the Greek debt crisis could spread to at least five other European countries ― including Belgium or even Italy ― if it is not cautiously managed, the head of the eurozone group warned Saturday.Jean-Claude Juncker told the German daily Sueddeutsche Zeitung that demanding that private creditors contribute to the next Greek bailout package could be considered a “default”
June 19, 2011
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Merkel wants bank aid for Greece debt
BERLIN (AFP) ― German Chancellor Angela Merkel Saturday urged “substantial” aid from private creditors to resolve Greek debt woes, as the Eurogroup warned the crisis could spread like a firestorm through EU economies.“We must be sure to try to have a substantial contribution” from private creditors like banks and insurance companies for debt-laden Greece,” Merkel told a meeting of her Christian De
June 19, 2011
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IMF says global recovery at risk
SAO PAULO (AFP) – There is danger the fragile global recovery could collapse unless Europe averts sovereign defaults, the United States gets its fiscal house in order and emerging economies prevent overheating, the IMF warned Friday. "There are very clear risks to the recovery," the International Monetary Fund's research director, Olivier Blanchard, said in Sao Paulo as he presented the Fund's lat
June 18, 2011
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Ford Asia chief says small cars on way to China, India
June 17, 2011
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IMF to release Greek funds despite EU delay
June 17, 2011
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Greek riots, political chaos hammer markets
ATHENS, Greece (AP) -- Greece's prime minister, struggling to ensure Parliamentary approval for a crucial austerity bill, said he would reshuffle his Cabinet and seek a vote of confidence for his new government after coalition talks with opposition parties failed.The negotiations collapsed Thursday as rioters clashed with police in the streets of Athens during a general strike and renewed fears of
June 16, 2011
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Bernanke urges GOP to back higher debt limit
Fed chief says brinkmanship threatens to backfire and harm the economyWASHINGTON (AP) ― Federal Reserve Chairman Ben Bernanke on Tuesday urged Republicans to support raising the nation’s borrowing limit. He said threatening to block the increase to gain deeper federal spending cuts could backfire and worsen the economy.Even a short delay in making payments on the nation’s debt would cause severe d
June 15, 2011
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S&P cuts Greece credit rating to lowest
ATHENS, Greece (AP) -- Standard & Poor's cut Greece's credit rating deeper into junk territory Monday, saying the country is likely to default on its massive debts at least once by 2013 -- a decision Athens said ignored its efforts to secure continued funding in coming yearsThe rating agency said the downgrade from B to CCC ``reflects our view that there is a significantly higher likelihood of one
June 14, 2011
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Hackers nab card data from Citi customers
NEW YORK (AP) ― Citigroup Inc. has become the latest victim in a string of high-profile data thefts by hackers targeting some of the world’s best-known companies.The New York bank said Thursday that about 200,000 Citibank credit card customers in North America had their names, account numbers and email addresses stolen by hackers who broke into Citi’s online account site.The breach comes after dat
June 10, 2011
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ECB’s Trichet signals rate increase in July
FRANKFURT, Germany (AP) ― The head of the European Central Bank signaled another likely interest rate hike in July, warning that higher oil and commodity prices must not be allowed to fuel an inflationary spiral as Europe’s economy grows.Jean-Claude Trichet also reiterated the bank’s opposition to letting Greece restructure its massive debts and was skeptical about a German proposal to get Greece’
June 10, 2011
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More ads hit online TV as Web audiences grow
Television networks gradually show more commercials online as viewer habits changeLOS ANGELES (AP) ― One of the rewards of watching TV online is not having to sit through as many commercials. Now the networks are chipping away at that little luxury.CBS shows twice as many ads per show on its website as it did last year. The CW network shows four times as many. Dozens of shows from major cable netw
June 9, 2011
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Lagarde: Pleased with China talks
BEIJING (AP) ― French Finance Minister Christine Lagarde said Thursday she is “very positive” after talks with Chinese officials about her candidacy to head the International Monetary Fund and said Beijing’s stake in the body should increase.Lagarde is on a global tour to promote her candidacy to succeed Dominique Strauss-Kahn, who quit after he was charged with sexually assaulting a New York hote
June 9, 2011
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Taxpayer loss on auto bailout narrows
White House touts value of emergency loans to GM and ChryslerWASHINGTON (AP) ― Taxpayers will lose about $14 billion in the government’s $80 billion bailout of Chrysler and GM, the White House said Wednesday, portraying the outcome as good news since the losses are far lower than originally anticipated.Seizing on the figures, the Obama administration took credit for the resurgence of the U.S. auto
June 2, 2011
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MS demos new Windows 8 for PC
RANCHO PALOS VERDES, California (AP) ― Microsoft Corp. demonstrated its new operating system at the “D: All Things Digital” conference on Wednesday, a full version of Windows that will operate on tablets and personal computers.For now, it’s called Windows 8. Executives said that as mobile devices have gotten more powerful, they are able to run the full version of Windows.The operating system is “t
June 2, 2011
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Japan, EU to start trade talks
BRUSSELS (AP) ― Japan and the European Union agreed at a summit meeting Saturday to begin negotiations on a free trade agreement that would deepen economic ties between two of the world’s largest economies. As a bloc, the EU is the world’s largest economy; Japan is number four.Negotiations will be preceded by what the leaders called a “scoping exercise” to ensure that both sides share the same goa
May 29, 2011
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Culture clash dents Brazil push
China eyes huge economic, business gains in S. American nationSAO PAULO (AP) ― Stocking shelves in a Chinese grocery store, Thiago warned that he didn’t want to be caught chatting during working hours. Within seconds, however, the Brazilian unleashed a pent-up flood of complaints about the owners, who lingered just beyond hearing distance.“My bosses have never heard of a day off,” said the 20-year
May 29, 2011
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Economies around the world growing more slowly
WASHINGTON (AP) ― From the United States to Europe and even to booming China, the global economy is showing signs of strain.Most major economies are expected to keep growing. But evidence is mounting that many around the world are struggling to expand as fast as they did last year.European governments are struggling with debts and squeezed budgets. Britain’s economy scarcely grew at the start of t
May 27, 2011
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Crisis, stagflation stalk global recovery: OECD
OECD sees world growth of 4.2%, urges Fed to raise ratesPARIS (AFP) ― Crisis still stalks the global economy with stagflation lurking and Japan set for recession this year despite moderate overall recovery, the OECD said on Wednesday, warning against complacency.The Organization for Economic Cooperation and Development held its 2011 global growth forecast steady at 4.2 percent in its latest semi-a
May 26, 2011
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Greece’s return to bond markets in 2012 unlikely
EU head calls for independent privatization body to tackle debtBERLIN (AP) ― Greece’s prime minister admitted for the first that his country might not be able to tap the markets for its borrowing needs next year as the head of the eurogroup urged the debt-ridden country to set up an independent privatization body overseen by the European Union to bring down its ballooning debt level.Tweet ShareThi
May 23, 2011
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Europe, emerging powers face off over IMF job
BRUSSELS (AFP) ― Europe fought to retain leadership of the IMF on Thursday to help tackle its debt crisis as emerging nations launched a sharp counter-attack, saying it was time rising economies took the helm.With the ink barely dry on Dominique Strauss-Kahn’s letter of resignation from a New York jail cell, European nations staked their claim to the top job at the world’s lender of last resort on
May 20, 2011
