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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Yellen: Higher capital rules may be needed for big banks
Federal Reserve Chair Janet Yellen said additional capital may be required for large U.S. banks whose source of funding could be at risk during a financial crisis. A study by the Basel Committee on Banking Supervision “provides some support for the view that there might be room for stronger capital and liquidity standards for large banks than have been adopted so far,” Yellen said in prepared remarks for a speech in Stone Mountain, Georgia. “Tightening risk-based capital and liquidity requiremen
April 16, 2014
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Fed considers emerging markets when making ...policy: Bernanke
The U.S. Federal Reserve considers developments in emerging markets when formulating policies, former Fed Chairman Ben S. Bernanke said. “There is a perception in some quarters that the U.S. doesn’t listen to emerging markets,” Bernanke said Tuesday in Mumbai. “Nothing could further from the truth. We have always listened to what emerging markets have had to say.” Bernanke sparred with Reserve Bank of India gov. Raghuram Rajan in Washington last week over how much international policy coordinati
April 16, 2014
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Google buys drone maker Titan Aerospace
Google Inc. is adding drones to its fleets of robots and driverless cars. The Internet-search company said it acquired Titan Aerospace, a maker of high-altitude, solar-powered satellites that provides access to data services around the world. Terms of the deal weren’t disclosed. Google is looking for new ways to offer online services to users through Project Loon, which it unveiled last year to help connect people in rural or remote areas to the Web using balloons and other machinery. The drones
April 15, 2014
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WTO raises outlook for global commerce
GENEVA (AFP) ― Global commerce is set to grow by 4.7 percent this year, the World Trade Organization said on Monday, with recovery in rich economies expected to mitigate risks in developing nations.The WTO previously had forecast that trade would expand by 4.5 percent in 2014, up from an estimated rate of 2.1 percent in 2013.So the latest forecast points to substantially more than a doubling of the growth achieved last year.Trade is a key measure of the health of the global economy which it both
April 15, 2014
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Disease threatens world’s bananas: U.N.
ROME (AFP) ― The United Nations warned on Monday of the potential “massive destruction” of the world’s $5-billion a year banana crop as a plant disease spreads from Asia to Africa and the Middle East.The Rome-based Food and Agriculture Organization said the TR4 strain of Panama disease, which has already hit tens of thousands of hectares in Southeast Asia, had been reported in Jordan and Mozambique.The disease is “posing a serious threat to production and export” of bananas, the fourth most impo
April 15, 2014
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Analyst forecasts deeper China slowdown in Q1
China’s loss of economic momentum in the first quarter was deeper than the most widely-cited data will show, according to analyst forecasts for a gauge that’s gaining increasing recognition. Gross domestic product grew 1.5 percent from the previous three months, according to the median estimate in a Bloomberg News survey ahead of data released Wednesday, down from 1.8 percent in the fourth quarter. That indicates a sharper deceleration than the median projection for 7.3 percent growth from a yea
April 15, 2014
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China’s gold demand rising 25% by 2017 as buyers get wealthier
Gold demand in China, which overtook India as the largest user last year, will rise about 25 percent in the next four years as an increasing population gets wealthier, according to the World Gold Council. Consumer demand will expand to at least 1,350 metric tons by 2017, the London-based council said in a report Tuesday. Growth may be limited this year after 2013’s price decline spurred consumers to do more buying last year, it said. China accounted for about 28 percent of global usage last year
April 15, 2014
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Putin’s turn to China heralds new look at yuan debt
President Vladimir Putin’s turn to China amid the worst standoff with the U.S. since the Cold War is prompting companies to take a fresh look at yuan bonds. OAO Gazprom, the world’s biggest natural-gas producer, is considering issuing yuan-denominated debt, two people with knowledge of the matter said last week. The yield on OAO Gazprombank’s 1 billion yuan ($161 million) bond due in 2017 jumped 75 basis points since Putin’s incursion into Crimea, which compares with an average yield drop of fiv
April 15, 2014
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Samsung looks to life beyond smartphones
After years of record profit growth, tech giant Samsung Electronics looks to be at a commercial crossroads as it searches for a new growth driver to counter slowing sales of its phenomenally successful smartphones.Alarm bells have been sounding for a while over Samsung’s reliance on smartphone sales in increasingly mature markets such as Europe and the United States, and increasingly competitive emerging markets like China.The world’s largest smartphone maker has a diverse product line ranging f
April 14, 2014
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Oracle’s Ellison highest-paid chief executive
Oracle Corp.’s Larry Ellison was the highest-paid chief executive officer in the U.S. last year as total compensation overall rose 9 percent from 2012, the New York Times reported.Ellison received $78.4 million, which includes salary and perks of $1.54 million, and stock options valued at $76.9 million, the newspaper said in an article published online. Ellison was the highest-paid executive in the same survey a year ago, with $96.2 million in compensation for 2012. Walt Disney Co.’s Robert Iger
April 14, 2014
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Japan inflation acceleration risks souring public on Abenomics
Prime Minister Shinzo Abe’s bid to vault Japan out of 15 years of deflation risks losing public support by spurring too much inflation too quickly as companies add extra price increases to this month’s sales-tax bump. Businesses from Suntory Beverage and Food Ltd. to beef bowl chain Yoshinoya Holdings Co. have raised costs more than the 3 percentage point levy increase. This month’s inflation rate could be 3.5 percent, the fastest since 1982, according to Yoshiki Shinke, the most accurate foreca
April 14, 2014
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Millions of Android devices vulnerable to Heartbleed bug
Millions of smartphones and tablets running Google Inc.’s Android operating system have the Heartbleed software bug, in a sign of how broadly the flaw extends beyond the Internet and into consumer devices. While Google said in a blog post that all versions of Android are immune to the flaw, it added that the “limited exception” was one version dubbed 4.1.1, which was released in 2012.Security researchers said that version of Android is still used in millions of smartphones and tablets, including
April 14, 2014
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Financial chiefs see global economy turning corner
WASHINGTON (AP) ― The world’s top finance officials expressed confidence Saturday that the global economy finally has turned the corner to stronger growth. This time, they may be right.Despite challenges that include market jitters about the U.S. Federal Reserve’s bond-buying slowdown and global tensions over Ukraine, policymakers said they believe there is a foundation for sustained growth that can provide jobs for the millions of people still looking for work five years after the worst recessi
April 13, 2014
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Beef prices reach highest level since 1987
LUBBOCK, Texas (AP) ― The highest beef prices in almost three decades have arrived just before the start of grilling season, causing sticker shock for both consumers and restaurant owners ― and relief isn’t likely anytime soon. A dwindling number of cattle and growing export demand from countries such as China and Japan have caused the average retail cost of fresh beef to climb to $5.28 a pound in February, up almost a quarter from January and the highest price since 1987. Everything that’s prod
April 13, 2014
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French minister in Cuba as Europe seeks opening
HAVANA (AP) ― A French foreign minister visited Cuba for the first time in more than 30 years Saturday, travelling to the communist-run nation at a time when it is seeking to attract more foreign investment and improve ties with the European Union.Foreign Minister Laurent Fabius met with his Cuban counterpart Bruno shortly after arriving in Havana. French officials said the trip is to promote business ties and support French companies that want to do business in Cuba.“We want to strengthen our t
April 13, 2014
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China to permit cross-border stock trading with HK
China unveiled a plan Thursday to give foreign investors greater access to its stock market by allowing investors in Shanghai and Hong Kong to trade shares on each other's exchanges.Securities regulators in China and the semiautonomous Chinese territory of Hong Kong said that the stock exchanges in both cities would be connected in a pilot program.Authorized investors in Shanghai and Hong Kong will be able to buy and sell up to 23.5 billion yuan ($3.8 billion) of stocks in certain companies each
April 10, 2014
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Japan consumers shun luxury goods after tax hike
Japanese consumers are keeping their wallets firmly closed after the first sales tax rise in 17 years, with luxury items and appliances suffering as one major department store reported a 25 percent drop in sales.The precipitous plunge comes after millions of shoppers made a last-minute dash to stores before the national levy rose to 8.0 percent from 5.0 percent on April 1, a rise that sparked fears of a drop in consumer spending in turn derailing Japan's nascent economic recovery.Like many retai
April 10, 2014
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Greece to end its bond market exile
ATHENS (AFP) ― Greece announced Wednesday its return to the debt markets after a four-year absence on the same day protestors launched the first anti-austerity strike of the year, crippling key services across the country.While up to 20,000 people demonstrated in the streets of the capital Athens and second city Thessaloniki, disrupting rail and ferry services and closing government offices, Greece’s Finance Ministry said the country would issue medium-term debt for the first time since 2010.“Th
April 10, 2014
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Americans, Germans clash over U.S.-EU trade standards
WASHINGTON (AFP) ― Americans and Germans are broadly supportive of a U.S.-EU free-trade pact under negotiation, but differ over details, especially forging similar goods and services standards, according to a survey released Wednesday.Common regulatory standards are perhaps the most ambitious objective of the bilateral talks that began last July to create the world’s biggest free-trade zone.The so-called Transatlantic Trade and Investment Partnership would vastly expand the U.S.-EU economic rela
April 10, 2014
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Fed struggled to agree on rate policy: minutes
WASHINGTON (AP) ― The Federal Reserve struggled last month over how to convey to investors that it will raise short-term interest rates only slowly once it increases them from record lows.Two weeks before the Fed’s regular meeting March 18-19, it held an unusual and previously unannounced videoconference to debate the issue, according to minutes, or written records, of the meeting released Wednesday.In the end, the Fed settled on an open-ended approach: That even after employment and inflation a
April 10, 2014
