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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Apple gets greener
SAN FRANCISCO (AP) ― Apple is offering free recycling of all its used products and vowing to power all of its stores, offices and data centers with renewable energy to reduce the pollution caused by its devices and online services.The iPhone and iPad maker is detailing its efforts to cultivate a greener Apple Inc. in an environmental section on the company’s website that debuted Monday. The site highlights the ways that the Cupertino, California, company is increasing its reliance on alternative
April 22, 2014
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Novartis to buy GSK’s cancer drugs for $16b
Novartis AG agreed to buy GlaxoSmithKline Plc’s cancer-drug business for as much as $16 billion, form a consumer-health venture with Glaxo and sell its animal-health unit to Eli Lilly & Co. for $5.4 billion in an overhaul of the Swiss drugmaker. Novartis also will sell its vaccines business, excluding the flu operations, to Glaxo for $7.1 billion, the Basel, Switzerland-based company said in a statement Tuesday. That includes royalties and as much as $1.8 billion payments based on the achievemen
April 22, 2014
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Russia closes 4 Ukrainian banks in Crimea amid integration push
Russia closed four Ukrainian lenders in Crimea as it pushes to integrate the Black Sea peninsula, following a weekend of violence in eastern Ukraine that the countries blamed on each other. The Russian regulator banned Privatbank, VAB Bank, Bank Kyivska Rus and Imexbank from Crimea for violating the “legal rights” of depositors, by ceasing operations with no sign of resuming, according to a website statement. UniCredit SpA, Raiffeisen Bank International and Alfa Bank, Russia’s largest privately
April 22, 2014
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Warmer weather gives lift to U.S. economy
WASHINGTON (AP) ― Spring’s thaw is reviving the economy, too. A recent batch of government and business reports show a U.S. economy emerging from winter’s deep freeze. Economists had expected growth to accelerate in 2014 after two years of slow and steady improvement. But an unusually bitter winter sent factories, hiring and consumer spending into hibernation. Now, as temperatures rise, the economy is regaining momentum. Factories are busier. Consumers are spending more. Banks are making more lo
April 22, 2014
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Citigroup seeks to sell 50 branches in California
Citigroup Inc. is seeking buyers for about 50 branches holding $3 billion of deposits in California as the third-largest U.S. lender pares brick-and-mortar outlets, said three people involved in the process. The branches, located in rural areas from Sacramento to north of Los Angeles, could sell for more than $100 million, said the people, who asked for anonymity because the negotiations are confidential. Citigroup had 384 branches in California holding close to $48 billion in deposits as of Jun
April 22, 2014
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Carmakers unveil China-focused models at Beijing auto show
BEIJING (AP) ― Ford Motor Co. on Sunday unveiled a new Escort sedan designed in China for global sale at a Beijing auto show that highlighted the growing influence of Chinese tastes on the industry.Automakers are looking to China’s biggest auto show this year to help boost sales in this huge but cooling market. Total sales last year reached 17.9 million vehicles, but growth is expected to slow from 15.7 percent to as low as 8 percent, even as newcomers including Lincoln and Tesla enter the marke
April 21, 2014
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Japan’s trade deficit widens as export growth weakens
Japan’s weakest export growth in a year spurred a wider-than-forecast trade deficit in March, adding to challenges for Prime Minister Shinzo Abe in steering the economy through the aftermath of an April 1 sales-tax rise. The 1.8 percent rise in the value of shipments overseas from a year earlier, reported Monday by the Ministry of Finance, compared with a 6.5 percent median estimate of 27 economists in a Bloomberg News survey. An 18.1 percent jump in imports helped widen the deficit to the bigge
April 21, 2014
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Kuroda’s inflation focus risking money-market health
Money market watchers say Bank of Japan Gov. Haruhiko Kuroda risks crippling the foundation of the nation’s financial system to achieve his inflation target. The outstanding balance of interbank lending in the so-called call market tumbled 17 percent this year to 14.1 trillion yen ($137 billion) on April 11, the least since January 2003 when the central bank was conducting its first round of easing through bond purchases. The BOJ currently buys about 7 trillion yen of government bonds a month fr
April 21, 2014
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China auto show opens amid environmental, growth concerns
BEIJING (AFP) ― Leading automakers are gathering in Beijing Sunday for the kickoff of China’s biggest car show, but lackluster growth and environmental restrictions in the world’s largest car market have thrown uncertainty into the mix.More than 1,100 vehicles will be showcased at the Beijing International Automotive Exhibition, which opens to the public on Monday.General Motors, Toyota, Volkswagen and Hyundai are among the global manufacturers set to attend, along with SAIC and Dongfeng, China’
April 20, 2014
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U.S. carmakers eye Russian market
DETROIT (AFP) ― Never mind the Ukraine crisis and Washington’s sanctions against Moscow: U.S. automakers say the Russian market is their next big frontier.Russia is simply too large and too important for carmakers to ignore, experts said this week.“The Russian market is going to be larger than Germany,” said John Branch, a professor at the University of Michigan Ross School of Business.Branch said the structure of the Russian auto industry is in flux as the demand for imports increases despite b
April 20, 2014
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Ex-Apple CEO plans smartphone for India
NEW DELHI (AFP) ― Former Apple chief executive John Sculley, whose marketing skills helped bring the personal computer to desktops worldwide, says he plans to launch a mobile phone in India to exploit its still largely untapped smartphone market.Inflexionpoint, an information technology supply company co-founded by Sculley, will start selling the smartphones next month in India under the new Obi Mobiles brand, the Singapore-based firm said in a statement emailed to AFP Saturday. “The smartphone
April 20, 2014
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U.S. warns money managers of more Russia sanctions
The Obama administration told asset managers that it was planning additional sanctions against Russia over the conflict in Ukraine. Officials from the Treasury Department and the National Security Council met in Washington with mutual-fund and hedge-fund managers, according to a person who attended. Their comments sent a message that more sanctions are on the way and that investors, if they were concerned about the impact, should manage that risk, said the person, who asked not to be identified
April 20, 2014
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Mergers and acquisitions market heats up in Europe
PARIS (AFP) ― Europe’s mergers and acquisitions market is rebounding after years in the doldrums, as improving market sentiment is prompting companies to spend piles of cash built up during the financial crisis.A flurry of new deals have been announced in the past month alone, including Numericable’s purchase of Vivendi’s SFR mobile phone unit in France, the merger of Swiss cement group Holcim and French rival Lafarge and the tie-up of Sopra and Steria to create a new French technology services
April 20, 2014
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Russia stares at recession
MOSCOW (AFP) ― Russia looks increasingly likely to sink into recession in 2014 as the knock-on effects of its standoff with the West over Ukraine hurt an economy already beset by structural problems.Data released over the last week showed that Russian is beginning to suffer the effects of the worst East-West political crisis since the Cold War.The threat of economic sanctions from the European Union and the United States has already prompted a massive capital outflow from Russia in the first thr
April 20, 2014
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Stimulus needed for job market: Fed
NEW YORK (AP) ― Federal Reserve Chair Janet Yellen said Wednesday that the U.S. job market still needs help from the Fed and that the central bank must remain intent on adjusting its policy to respond to unforeseen challenges.In her first major speech on Fed policy, Yellen sought to explain the Fed’s shifting guidance on its interest-rate policy, which at times has confused or jarred investors. She said the Fed’s policies “must respond to significant unexpected twist and turns the economy may ma
April 17, 2014
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Tech giants look to skies to spread Internet
NEW YORK (AFP) ― The shortest path to the Internet for some remote corners of the world may be through the skies.That is the message from U.S. tech giants seeking to spread the online gospel to hard-to-reach regions.Google took a step in that direction this week with the acquisition of Titan Aerospace, a maker of solar-powered drones that can help boost Internet access to remote areas.“It’s still early days, but atmospheric satellites could help bring Internet access to millions of people, and h
April 17, 2014
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China’s GDP growth slows to 7.4%
BEIJING (AFP) ― China’s gross domestic product grew 7.4 percent in the first three months of the year, official data showed Wednesday, increasing the chances Beijing will move to stanch a slowdown in the world’s number two economy.The year on year figure is sharply down from the 7.7 percent expansion in the final three months of 2013, with the National Bureau of Statistics blaming a slower-than-expected global recovery as well as economic structural reforms at home.However, it was marginally hig
April 16, 2014
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Yahoo, Intel shares rise
SAN FRANCISCO (AP) ― Yahoo is prospering from its lucrative investments in Asia while the Internet company’s listless advertising sales are picking up, if ever so slightly, under CEO Marissa Mayer.The positive signs in the Yahoo’s first-quarter report overshadowed a 20 percent decline in the company’s earnings during the opening three months of the year.Yahoo’s stock gained $2.19, or 6.4 percent, to $36.40 in Tuesday’s extended trading. Even if the shares rally similarly in Wednesday’s regular t
April 16, 2014
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GM chief creates team to boost safety
NEW YORK (AFP) ― General Motors CEO Mary Barra announced Tuesday the creation of a new team to enhance safety in the wake of an ignition-recall scandal that has engulfed the company.Barra said the new product-integrity team aimed to ensure that future technical problems are addressed and resolved quickly. The automaker has come in for heavy criticism over its response to the ignition-switch problem, which has been tied to 13 deaths.The new product-integrity team will be part of the global produc
April 16, 2014
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EU Parliament approves ‘banking union’ reforms
STRASBOURG (AFP) ― The European Parliament approved on Tuesday the last elements of a new set of rules to prevent failing banks from ever again driving EU member states into bankruptcy.With “banking union” passed, “we now have in place a true European system to supervise the eurozone banks and deal with any future failures,” EU Financial Markets Commissioner Michel Barnier said.The system is also widely seen as essential for the monetary union of the euro single currency whose very existence cam
April 16, 2014
