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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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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S. Korea not to attend Sado mine memorial: foreign ministry
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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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World Bank, IMF lead move to help North Africa
WASHINGTON (AFP) ― Global finance chiefs moved to aid strife-torn North Africa Thursday as the International Monetary Fund and World Bank warned of more potential social unrest from high food prices and joblessness.Finance ministers of leading economies and development bank heads discussed ways to help Egypt, Tunisia and other regional economies rebuild, as the annual spring meetings of the World
April 15, 2011
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Ireland passes IMF/EU test, Fitch ups outlook
April 15, 2011
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G20 eyes anti-crisis plan, mulls recovery risks
April 15, 2011
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U.S. Congress OKs budget cuts; fights await
Record spending cuts win approval, on way to Obama for signing, but bigger deficit fights loomWASHINGTON (AP) ― Congress sent President Barack Obama hard-fought legislation cutting a record $38 billion from federal spending on Thursday, bestowing bipartisan support on the first major compromise between the White House and newly empowered Republicans in Congress.“Welcome to divided government,” sai
April 15, 2011
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Obama proposes $4tr in deficit cuts
U.S. president pitches spending cuts, laying down markers for 2012 campaignWASHINGTON, D.C. (AP) ― President Barack Obama coupled a call for $4 trillion in long-term deficit reductions with a blistering attack on Republican plans for taxes, Medicare and Medicaid on Wednesday, laying down markers for a roiling debate in Congress and the 2012 presidential campaign to come.Obama said spending cuts an
April 14, 2011
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BRICS grapple with China dominance in trade
April 13, 2011
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G20 to work on imbalances plan
April 13, 2011
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Moody’s may downgrade Toyota rating
TOKYO (AP) ― Moody’s Investors Service warned Wednesday it may downgrade its credit rating for Toyota Motor Corp. due to the financial fallout from suspended car production following the March 11 quake and tsunami.The rating agency said Toyota’s financial and operating performance will worsen as a result of the disasters, which are causing major disruptions in auto parts supply and have forced Toy
April 6, 2011
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Fed’s energy cost worries could mean rate hike
Notes released from March 15 meeting show growing worries about inflationWASHINGTON (AP) ― Federal Reserve officials raised concerns last month that a big jump in energy prices could weaken the economy and unleash inflation, prompting a few to suggest the possibility of tightening credit this year. Such a move usually involves boosting interest rates, although the minutes from the Fed’s closed-doo
April 6, 2011
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GOP 2012 budget seeks $4tr plus in cuts
WASHINGTON (AP) ― A Republican plan for the 2012 U.S. budget would cut more than $4 trillion over the next decade, more than even the president’s debt commission proposed, with spending caps as well as changes in the Medicare and Medicaid health programs, its principal author said Sunday.The spending blueprint from Rep. Paul Ryan, the chairman of the House Budget Committee, is to be released Tuesd
April 4, 2011
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U.S. unemployment falls to 2-year low
Economists expect stronger hiring, producing a net gain of about 2.5m jobsWASHINGTON (AP) ― The nation’s unemployment rate dropped to its lowest level in two years in March, and the outlook is brightening as major companies plan to add more jobs.Increased hiring cut the unemployment rate to 8.8 percent ― an encouraging sign for the unemployed and for President Barack Obama’s re-election prospects.
April 3, 2011
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Oil climbs to highest on Libya conflict
NEW YORK (AP) ― The price of oil rose to a 30-month high on Thursday as fighters loyal to Moammar Gadhafi pushed back rebels from key areas in eastern Libya.Benchmark West Texas Intermediate crude rose $2.45, more than 2 percent, to settle at $106.72 a barrel on the New York Mercantile Exchange. At one point it hit $106.83, the highest it’s been since September, 2008. In London, Brent crude rose $
April 1, 2011
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Ireland orders banking overhaul
DUBLIN (AFP) ― Ireland’s central bank on Thursday ordered a drastic overhaul of the eurozone nation’s stricken banking sector as the cost of bailing out its lenders was set to top 70 billion euros ($99 billion).The Central Bank of Ireland said in a statement that four lenders needed to raise an extra 24 billion euros after it carried out vital stress tests on their ability to withstand another fin
April 1, 2011
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S&P cuts Nokia debt rating for first time
Nokia Oyj, the world’s biggest maker of mobile phones, had its debt rating cut for the first time by Standard & Poor’s, which cited market share losses and “weaker” operating margins at the Finnish company.The long-term rating was lowered one step to “A-” with a stable outlook, S&P said in a statement Wednesday. S&P has since June 1998 ranked the debt “A,” the sixth-highest of 10 investment grades
March 31, 2011
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Toyota Motor may lose 500,000 units
Toyota Motor Corp. may delay the production of at least 500,000 vehicles in Japan because of a shortage of parts and electricity after the nation’s record earthquake, said an analyst at Advanced Research Japan.Toyota’s operating profit may be hurt by at least 100 billion yen ($1.2 billion) in the fiscal year ending Thursday and up to 200 billion yen next fiscal year, said Koji Endo, an auto analys
March 31, 2011
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Japan weighs entombing nuclear plant
Japan is considering pouring concrete into its crippled Fukushima atomic plant as the United Nation’s nuclear watchdog agency warned that a potential uncontrolled chain reaction could cause further radiation leaks.Chief Cabinet Secretary Yukio Edano Wednesday ruled out the possibility that the two undamaged reactors at Tokyo Electric Power Co.’s six-unit Daiichi plant would be salvaged. Units 1 th
March 31, 2011
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Inflation worries push consumer confidence lower
NEW YORK (AP) ― Rising prices at the gas pump and in grocery aisles are starting to crimp shoppers’ outlook.The Conference Board’s Consumer Confidence Index fell sharply from a three-year high in February, reversing five straight months of improvement.The decline raises questions about Americans’ ability and willingness to spend in coming months.The index fell more than expected to 63.4 from a rev
March 30, 2011
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Developing economies’ lead over rivals has risks
WASHINGTON (AP) ― The world’s biggest economies are recovering from the Great Recession at troublesome speeds: too fast or too slow. China, India and other major developing countries quickly returned to breakneck rates of growth after escaping the worst of the economic downturn in 2008 and 2009. Their rapid recoveries showed for the first time that emerging economies have grown big and strong enou
March 30, 2011
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Thailand will adjust rates to curb inflation
Thailand’s central bank may raise interest rates further as oil above $100 a barrel and surging food prices add to inflation pressures stoked by the fastest economic growth in 15 years.“The risk on growth is probably less of a concern, so the risk balance is tilted toward inflation,” Governor Prasarn Trairatvorakul said in an interview with Bloomberg Television in Bangkok Monday. “You can expect f
March 29, 2011
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Markets more predictable than you think
Stock movements may seem irrational, but they tend to follow patterns even in times of crisisNEW YORK (AP) ― The threat of severe nuclear contamination from a breached Japanese nuclear reactor still looms. The outcome of the escalating war in Libya is uncertain. Yet The Standard & Poor’s 500 index ended the week up 2.7 percent. The Dow Jones industrial average rose 3.1 percent. So what happened to
March 28, 2011
