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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U.S. considers tighter credit as economy improves
Fed minutes reveal debate in April how to tighten credit if inflation persistsWASHINGTON (AP) ― The Federal Reserve said last month that the economy is gradually improving and began discussing how it would reverse policies adopted during the recession that pumped billions of dollars into the economy.Some members said the Fed might need to start boosting interest rates this year to guard against in
May 19, 2011
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EU mulls ‘soft restructuring’ for Greece
BRUSSELS (AFP) ― Senior EU officials on Tuesday raised the possibility of a limited but controversial restructuring of Greece’s mountain of debt which could involve private sector creditors taking some of the pain.Leading eurozone policy-maker Jean-Claude Juncker said a “soft restructuring” of Greece’s 330-billion-euro ($470-billion) accumulated debt was a possibility as an EU-IMF mission in Athen
May 18, 2011
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Dollar drop? You ain’t seen nothing yet if yuan jumps
May 18, 2011
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U.S. economic data suggests bad patch lingering
May 18, 2011
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ITC rules in favor of Whirlpool on antidumping petitions against Samsung, LG
WASHINGTON, May 13 (Yonhap) -- A U.S. trade panel Friday ruled in favor of Whirlpool Corp. in its antidumping petitions against South Korean rivals Samsung Electronics and LG Electronics for their alleged sale of refrigerators in the U.S. at a discount. The U.S. International Trade Commission said in a statement that it "today determined that there is a reasonable indication that a U.S. industry
May 14, 2011
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Supply problems, shadow of recall plague Toyota
DETROIT (AP) ― Toyota should have owned the road this summer. When gas prices go up, American drivers go for smaller, fuel-efficient cars. The last time prices at the pump spiked in 2008, Toyota captured the title of world’s No. 1 automaker ― and has held it ever since.Now gas costs almost $4 a gallon again, but Toyota is struggling. It’s been hammered by supply disruptions from the Japan earthqua
May 12, 2011
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Good jobs, bad jobs, but not enough of either
May 8, 2011
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Rise in layoffs, gas prices cloud hiring outlook
Rapid spike in layoffs heightens concerns that pricier gas is slowing U.S. economyWASHINGTON (AP) ― A renewed rise in layoffs is the latest sign that higher fuel prices may be slowing the economy.A 23 percent spike in applications for unemployment benefits over the past month suggests that hiring may look weaker when the government issues the April jobs report Friday.Oil prices plummeted Thursday
May 6, 2011
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Sony was victim of sophisticated cyber-attack
WASHINGTON (AP) ― The data breach that hit Sony’s PlayStation Network resulted from a “very carefully planned, very professional, highly sophisticated criminal cyber-attack designed to steal personal and credit card information for illegal purposes,” a Sony executive said.In a letter to members of the House Commerce Committee released Wednesday, Kazuo Hirai, chairman of Sony Computer Entertainment
May 5, 2011
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Up is only way to go for chip makers
Intel claims computing breakthrough with three-dimensional chipsSAN FRANCISCO (AP) ― In the race to build a faster computer chip, there is literally nowhere to go but up. Today’s chip surfaces are packed with the tiniest electronic switches the laws of physics allow, but Intel Corp. says it is blowing past those limits with a breakthrough, three-dimensional transistor design it revealed Wednesday.
May 5, 2011
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Portugal reaches bailout deal with EU
Officials say bailout to be worth $115 billion over 3-year periodLISBON, Portugal (AP) ― Hard-up Portugal has negotiated an international bailout worth 78 billion euro ($115 billion) over a three-year period, officials said Tuesday.A government official, speaking on departmental rules of anonymity, told the Associated Press the amount includes aid for Portugal’s cash-strapped banks. The official d
May 4, 2011
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Buffett says mistakes were made in handling Sokol
OMAHA, Nebada (AP) ― Berkshire Hathaway’s annual meeting on Saturday was dominated by somber topics, as Warren Buffett explained to roughly 40,000 shareholders how the company had been battered by a trusted former employee’s misdeeds and a string of natural disasters.Buffett assured the crowd at an Omaha convention center that Berkshire is strong enough to withstand both the David Sokol scandal an
May 1, 2011
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Microsoft Windows sales slip
April 29, 2011
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U.S. economic growth slows, inflation surges
April 29, 2011
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Fed says bond program to end soon
WASHINGTON (AP) ― The economy and job creation have strengthened enough for the Federal Reserve to end on schedule a program of buying Treasury bonds to help the economy, the Fed said Wednesday.Ending a two-day meeting, the Fed made no changes to the program. The decision was unanimous. The bond purchases were intended to lower loan rates, encouraging spending and boost stock prices. But critics w
April 28, 2011
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BOJ seen holding fire, cutting growth forecast
April 28, 2011
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Apple earnings strong, couldn’t meet iPad demand
April 21, 2011
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Citi’s Q1 profit falls 32% on lower loans
NEW YORK (AP) ― Citigroup’s first-quarter income fell 32 percent on lower revenue from investment banking and a decline in consumer loans. The bank was able to set aside fewer reserves for losses as more borrowers were able to keep up with their debt payments.The New York bank said Monday that it earned $3 billion, or 10 cents per share, compared with $4.4 billion, or 15 cents a share in the first
April 19, 2011
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Foreign direct investment in China surges 33%
Foreign direct investment surged 33 percent in March from a year earlier as rising inflation and interest rates failed to damp overseas confidence in the world’s fastest-growing major economy. Foreign investments added $12.5 billion to China’s economy, the Ministry of Commerce said in a statement in Beijing Tuesday. Investments increased at an annual rate of 29 percent in the first quarter. China’
April 19, 2011
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Geithner confident Congress will raise debt limit
Treasury secretary says Republicans agreed to increase the $14.3 trillion ceilingWASHINGTON (AP) ― Treasury Secretary Timothy Geithner says Republican leaders have privately assured the Obama administration that Congress will raise the government’s borrowing limit in time to prevent an unprecedented default on the nation’s debt.But a top Republican quickly pushed back Sunday and said there was no
April 18, 2011
