Saenuri takes by-elections in sweeping victory

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Biotech drugmaker Amgen laying off at least 2,400

THOUSAND OAKS, California (AP) ― Biologic drugmaker Amgen said Tuesday that it will lay off 12 to 15 percent of its worldwide workforce and close four sites, even as it reported stellar second-quarte...

Updated : 2014.07.30 21:16

U.S. Fed meets amid calls for tighter policy

WASHINGTON (AFP) ― The U.S. Federal Reserve began a two-day policy meeting Tuesday under rising pressure to step off its ultra-dovish stance to address rising inflation and worries of overheated mark...

Updated : 2014.07.30 21:13

Argentina in talks as default looms

NEW YORK (AFP) ― Last-ditch talks aimed at averting Argentina’s second default in 13 years were to resume Wednesday in New York, after Tuesday’s marathon session failed to reach a deal.Buenos Aires...

Updated : 2014.07.30 21:12

Japan factory output logs sharpest drop since quake

TOKYO (AFP) ― Japan’s factory production in June logged its sharpest fall since the 2011 earthquake-tsunami disaster, hit largely by drops in cars and industrial machines, official data showed Wednesday.Production fell 3.3 percent month-on-month after a 0.7 percent rise in May, the trade...

Updated : 2014.07.30 21:09

Lloyds settles with U.S., U.K. over market fixing

LONDON (AP) ― Lloyds Banking Group is paying $369 million to U.S. and British authorities to settle allegations it manipulated a key global interest rate. Lloyds, one of the world’s largest banks, o...

Updated : 2014.07.29 20:41

Malaysian Airline faces cancellations after disasters

Malaysian Airline System Bhd. is facing an influx of passenger cancellations after the carrier’s second disaster in four months. Travel agents from Melbourne to Singapore, New Delhi and Malaysian Air...

Updated : 2014.07.29 20:41

Russia hit by $50b Yukos ruling amid sanctions squeeze

LONDON (AFP) ― An international court ordered Russia on Monday to pay Yukos shareholders a record $50 billion compensation over its seizure of the defunct oil giant, a new blow for Moscow on top of sanctions over the Ukraine crisis.Russia swiftly vowed to contest the ruling by the arbitra...

Updated : 2014.07.29 20:40

$1.6b gain makes Zuckerberg richer than Google founders

Mark Zuckerberg is now richer than Google Inc. cofounders Sergey Brin and Larry Page. The Facebook Inc. chairman added $1.6 billion to his fortune last Friday after the world’s largest social network...

Updated : 2014.07.28 20:49

Apple takeover target Beats sued by Bose

Bose Corp. filed a patent-infringement action seeking to block U.S. imports of noise-canceling headphones made by Beats Electronics LLC, the company being bought by Apple Inc. The Beats Studio and Beats Studio Wireless headphones use technology covered by five patents, Bose said in a compl...

Updated : 2014.07.28 20:49

Asset bubbles could deflate global recovery

PARIS (AFP) ― In a world still struggling to shake off the worst financial crisis for a generation, many economists are worrying that new asset bubbles are already threatening to derail the tepid glo...

Updated : 2014.07.28 20:49

No burgers at some China McDonald’s over food scare

SHANGHAI (AFP) ― McDonald’s outlets in Beijing and Shanghai have yanked their flagship burgers off the menu after a key U.S. supplier recalled products made by its Shanghai factory, which is alleged to have used expired meat.Authorities in Shanghai just over a week ago shut a plant owned...

Updated : 2014.07.28 20:49

Google triples deal spending to $4.2b in H1

Google Inc. more than tripled spending on acquisitions in the first half of the year to $4.2 billion, as the Internet company ramps up investments to expand its services. The world’s largest online advertiser spent $3.2 billion for thermostat company Nest Labs Inc. in February and an addi...

Updated : 2014.07.28 20:49

China’s cooling property market prompts revival of builder bonds

China’s government is authorizing developer debt sales for the first time in five years in a bid to avoid bankruptcies as the property market cools. Jiangsu Future Land Co., a builder of homes in eas...

Updated : 2014.07.28 20:48

Mobile tech reshaping health sector

WASHINGTON (AFP) ― Your smartphone is not only your best friend, it’s also become your personal trainer, coach, medical lab and maybe even your doctor.“Digital health” has become a key focus for t...

Updated : 2014.07.27 19:31

Default looms as Argentina’s debt talks remain deadlocked

NEW YORK (AP) ― Argentina’s negotiations with creditors to resolve a dispute over $1.5 billion in unpaid debts remained deadlocked following talks Friday, setting it on a course for a possible catastrophic default this week.Argentina will default for the second time in 13 years if it can...

Updated : 2014.07.27 19:29