Most Popular
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Dongduk Women’s University halts coeducation talks
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Defense ministry denies special treatment for BTS’ V amid phone use allegations
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Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
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OpenAI in talks with Samsung to power AI features, report says
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Two jailed for forcing disabled teens into prostitution
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South Korean military plans to launch new division for future warfare
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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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Gold bars and cash bundles; authorities confiscate millions from tax dodgers
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Kia EV9 GT marks world debut at LA Motor Show
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Teen smoking, drinking decline, while mental health, dietary habits worsen
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Inflation hits 4-month high in China
BEIJING (AFP) ― China’s annual inflation rose sharply in May to its highest level in four months, official data showed Tuesday, likely easing concerns about deflationary risks in the world’s second-biggest economy.The consumer price index increased by 2.5 percent year-on-year last month, accelerating from 1.8 percent in April, the National Bureau of Statistics said in a statement. It was the highest figure since January also saw CPI rise 2.5 percent.The May figure matched the median forecast in
June 10, 2014
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Silicon Valley’s interns enjoy perk-filled summer
MOUNTAIN VIEW, California (AP) ― Sitting in a kitchen stocked with free food, a handful of 20-something Google summer interns weigh their favorite perks, but where to begin? With bikes, buses, massages, swimming pools, dance classes, nap pods, parties and access to their tech heroes, it’s a very long list.“Unlimited sparkling water?” someone says.In the end, however, the budding Googlers are most excited about the work.“The project I’m working on is super high impact, and I’m looking for ways to
June 9, 2014
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Tech giants eye lead in Internet of Things
WASHINGTON (AFP) ― It’s not just smartphones and tablets anymore. The world’s tech giants are now battling over a wider array of connected devices, from refrigerators to cars to wristwatches.Announcements in recent days from Apple and Samsung made clear they are staking their claim to the Internet of Things following Google’s announcement earlier this year that it was creating a new Android platform for wearable electronics.“The Internet of Things is the next big platform,” said Roger Kay, an an
June 9, 2014
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TV makers bet on super-HD as World Cup looms
TOKYO (AFP) ― With a hopeful eye on the approaching World Cup, Japan’s embattled TV makers are hoping the key to their rescue can be found on the second floor of Bic Camera’s downtown Tokyo outlet.Sales of big-screen televisions with super-high definition 4K technology are picking up at the nationwide electronics retailer, and their fatter profit margins are offering a lifeline to one-time industry giants Sony and Panasonic.Retailers report that demand for the cutting-edge technology ― with four
June 9, 2014
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Japan’s economy grows 1.6% in Q1
TOKYO (AFP) ― Japan’s economy saw its strongest expansion in more than two years during the first quarter of 2013, revised data showed Monday, but a sales tax rise has weighed on growth since the levy hike.The world’s number-three economy grew by 1.6 percent between January and March, slightly faster than an initial estimate of 1.5 percent, and 6.7 percent on an annualized basis ― a hypothetical figure that stretches the pace of growth over the course of a year.The latest figures confirmed the e
June 9, 2014
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World needs record Saudi crude supply as OPEC convenes
OPEC ministers say they will almost certainly leave their oil-production ceiling unchanged when the group meets this week. What really matters for global markets is whether Saudi Arabia will respond to global supply shortfalls by pumping a record amount of crude. Just six months ago, energy analysts predicted output from the Organization of Petroleum Exporting Countries would climb too high and Saudi Arabia needed to cut to make room for other suppliers. They changed their minds after production
June 9, 2014
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India’s Modi targets $2tr hidden assets
India’s new Prime Minister Narendra Modi didn’t waste much time: Among his first acts on his first day in office was to make it a priority to recover billions of dollars stashed overseas to avoid taxes. Within 24 hours of his May 26 inauguration, Modi created an investigative team of former judges and current regulators to find the concealed assets, known as black money, and bring them back. At stake is what’s estimated to be as much as $2 trillion, more than India’s annual gross domestic produc
June 9, 2014
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ECB getting closer to Fed-style stimulus
FRANKFURT (AP) ― The European Central Bank has deployed a raft of aggressive measures to boost Europe’s economy, but stopped short of the one many economists insist would do the most to help: large-scale purchases of bonds. That could change sooner rather than later, analysts say, if inflation remains low. Purchases of bonds using newly created money ― called quantitative easing ― have been used with some success so far by the U.S. Federal Reserve, the Bank of England and the Bank of Japan. They
June 8, 2014
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BOJ’s Kuroda says easy money policy achieving intended results
DEAD SEA, Jordan (Reuters) ― Bank of Japan Gov. Haruhiko Kuroda said on Saturday a massive stimulus policy introduced a year ago had achieved its goal of boosting the real economy, lifting growth and ending deflation but said a 2 percent inflation of two years could take more time to achieve.He said that the its ultra-easy monetary QQE (quantitative and qualitative easing) policy introduced last April when the BOJ pledged to double base money via aggressive asset purchases to accelerate consumer
June 8, 2014
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S&P hikes Ireland’s credit rating
DUBLIN (AFP) ― Standard & Poor’s on Friday revised up Ireland’s sovereign credit rating to “A-” with a positive outlook from its previous “BBB+” assessment, citing the eurozone member’s improved domestic prospects.In contrast, the ratings agency held Italy’s credit rating at ’BBB’, which is two notches above junk level, and maintained its negative outlook.“The (Irish) upgrade reflects our view of the brightening prospects for Ireland’s domestic economy, which we expect to underpin further improv
June 8, 2014
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China’s trade surplus up to $35.92 billion
BEIJING (AFP) ― China’s trade surplus surged in May, official data showed Sunday, as export growth accelerated sharply while imports showed a surprise fall.Exports increased 7 percent to $195.47 billion year-on-year, the General Administration of Customs announced, while imports declined 1.6 percent to $159.55 billion, resulting in a surplus of $35.92 billion ― a 74.9 percent jump from the same month last year.The result, China’s third straight monthly surplus, surpassed the median forecast of a
June 8, 2014
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Fed: Economy expands across U.S.
WASHINGTON (AP) ― A Federal Reserve survey shows the U.S. economy strengthening over the past two months in areas from manufacturing and construction to retail sales and bank lending.Seven of the Fed’s 12 regions ― Boston, New York, Richmond, Chicago, Minneapolis, Dallas and San Francisco ― reported “moderate” growth during the early spring, while the remaining five described growth as “modest,” according to the Beige Book survey released Wednesday.Retail sales were reviving, helped by pent-up d
June 5, 2014
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Amazon expected to unveil smartphone
Amazon.com Inc. is planning to introduce a smartphone later this month, according to a person with knowledge of the matter, plunging the world’s largest online retailer deeper into the competitive mobile-device market. Amazon tweeted Wednesday that it was holding an event in Seattle on June 18 hosted by chief dxecutive officer Jeff Bezos for a product unveiling. The post included a picture of a black, thin device with Amazon’s name in silver emblazoned on it. Mary Osako, a spokeswoman for Amazon
June 5, 2014
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Hollande: BNP penalty could hit European bank stability
A potential $10 billion fine against BNP Paribas SA, France’s biggest bank, for violating U.S. trade sanctions could have repercussions affecting the stability of Europe’s financial sector, French President Francois Hollande warned ahead of his meeting with President Barack Obama. U.S. authorities “must be fully aware of what is at stake from a sanction that would be not just unfair, but disproportionate, and with consequences well beyond a single French bank. Other banks could be targeted, intr
June 5, 2014
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U.S. auto sales surge in May
DETROIT (AP) ― Brisk demand for SUVs and pickup trucks ― and five sunny weekends ― pushed U.S. auto sales to a nine-year high in May. Chrysler, Nissan and Toyota all reported double-digit sales gains over last May. Even General Motors, battling bad publicity from a mishandled recall, surprised with a 13 percent sales increase. Ford’s sales rose a better-than-expected 3 percent, while Hyundai’s were up 4 percent. Of major automakers, only Volkswagen’s sales fell. May is traditionally a strong mon
June 4, 2014
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Facebook buys Pryte to boost Web reach
NEW YORK (AFP) ― Facebook agreed Tuesday to buy the Finnish-based tech startup Pryte, which enables smartphone users to purchase mobile data on demand, the companies announced.The move could help Facebook further its goal of bringing the Internet to more people around the globe, allowing them to avoid costly monthly data plans and instead buy “bite-sized, app-specific” data packages.Terms of the deal were not disclosed.Facebook said the deal would help its efforts to bring the Web to underserved
June 4, 2014
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France hits back at mooted U.S. mega fine on BNP Paribas
PARIS (AFP) ― France, trying to minimize U.S. penalties against BNP Paribas on charges of breaking sanctions, said Tuesday that a reported $10 billion fine was excessive and warned it could damage trans-Atlantic trade talks.The remarks from French Foreign Minister Laurent Fabius ramp up French concern at the size, manner and likely effects of the expected fine that could be imposed on the French bank.The New York Times newspaper reported that the governor of the Bank of France, Christian Noyer,
June 4, 2014
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World Bank OKs first Russia investment since crisis
The World Bank approved an investment in Russia for the first time since President Vladimir Putin annexed Crimea, overriding opposition from Canada and lack of support from the U.S. The International Finance Corp., the lender’s private-sector arm, voted May 29 for parts of a 250 million euro ($340 million) package enabling French retailer Groupe Auchan SA to expand in Russia, Vietnam and other emerging markets, World Bank spokeswoman Serene Jweied said Tuesday in an email. The deal thrusts the W
June 4, 2014
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Solar plane makes debut with eye on global trip
PAYERNE, Switzerland (AFP) ― A sun-powered plane made a successful test flight on Monday, clearing a vital hurdle towards its goal of a round-the-world trip next year, its pilot and mission chiefs said.Solar Impulse 2 carried out a flight lasting two hours and 15 minutes, half an hour longer than scheduled, German test pilot Markus Scherdel said.“Everything worked as expected,” Scherdel told a press conference at an air base in Payerne, central Switzerland.“Of course, we have to do more testing,
June 3, 2014
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World needs $48tr investment by 2035 to meet energy demand, IEA says
LONDON (AFP) ― More than $48 trillion must be invested by 2035 to meet global energy needs as current technologies go offline and demand rises in emerging nations, the International Energy Agency said in a report launched in London on Tuesday.The special report warns that the expansion of the global gas market, thanks largely to the improvements in unconventional extraction methods, will not reduce prices significantly due to high transportation and infrastructure costs.The Paris-based body pred
June 3, 2014
