Most Popular
-
1
[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
-
2
[Exclusive] Korean military set to ban iPhones over 'security' concerns
-
3
Yoon seeks rebound, taps 5-term lawmaker as chief of staff
-
4
Korean, Romanian leaders discuss defense tech, nuclear energy
-
5
Medical standoff deepens as doctors reject new med school plan, talks
-
6
[Graphic News] 77% of young Koreans still financially dependent
-
7
[Herald Interview] Why Toss invited hackers to penetrate its system
-
8
N. Korea sends economic delegation to Iran amid suspected military cooperation
-
9
S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
-
10
S. Korean envoys convene to navigate strategy amid Middle East tensions
-
Musk hints at top secret Tesla masterplan
Tesla Motors CEO Elon Musk on Sunday tweeted his intention to soon publish part two of his “top secret Tesla masterplan” following an embattled several weeks for the Silicon Valley heavyweight.The tweet, which read “Working on Top Secret Tesla Masterplan, Part 2. Hoping to publish later this week” comes amid inquiries into two crashes of Tesla cars, as well as ongoing questions regarding Musk's plans to combine his electronic vehicle company, Tesla, with his solar panel maker company SolarCity.
July 11, 2016
-
Osborne visits U.S. to urge investors to ‘stick with’ Britain
Chancellor of the Exchequer George Osborne heads to Wall Street aiming to shore up investor confidence in the U.K.’s economy and financial markets roiled by the vote to quit the European Union.Leaving behind what’s set to be another week of political disarray at home, Osborne is embarking on a two-week shuttle tour of the U.S., China and Singapore in a bid to persuade financiers to stick with the U.K. as it prepares to end its union with the world’s largest trading bloc.“While Britain’s decision
July 11, 2016
-
Yen rises to top this week on haven demand as U.S. payrolls loom
Brexit fallout has given investors plenty of reasons to flock to the yen, making it the best-performing major currency this week. Friday could bring another, as markets brace for a closely watched U.S. jobs report.The yen has climbed 1.9 percent against the dollar since July 1 as an investor flight from U.K. property forced a number of funds to halt withdrawals, sending the pound down the most among developed-market peers. Britain’s referendum two weeks ago has fanned concerns about global growt
July 8, 2016
-
S&P cuts EU rating as warnings grow on Brexit’s impact
Ratings agency Standard and Poor‘s cut the credit rating for the European Union by one notch on Thursday saying that the bloc had grown more uncertain after Brexit.“After the decision by the U.K. electorate to leave the EU as a consequence of the June 23 consultative referendum, we have reassessed our opinion of cohesion within the EU, which we now consider to be a neutral rather than positive rating factor,” the agency said in a statement.According to the statement, S&P cut the EU’s rating to “
July 1, 2016
-
U.S.-Korea FTA effective in increasing American exports: U.S. report
The free trade agreement between the United States and South Korea resulted in an increase of $4.8 billion-$5.3 billion in total American exports, the second-largest among a total of 13 free trade deals the U.S. has concluded, the U.S. trade agency said in a report Wednesday.The International Trade Commission report shows that the Korea-U.S. pact, often dubbed "KORUS FTA," is highly effective in increasing U.S. exports, contrary to claims by Republican presidential candidate Donald Trump that th
June 30, 2016
-
[Newsmaker] Anti-EU figurehead Farage vindicated by Brexit vote
Nigel Farage has devoted his career to campaigning to leave the European Union, a once-impossible seeming goal he has now achieved following a referendum campaign peppered with his signature controversies. UK Independence Party (UKIP) leader Nigel Farage in London on June 22, 2016 (AFP/Niklas Hallen)It was the rise of Farage’s UK Independence Party (Ukip) which effectively forced Prime Minister David Cameron to first promise a referendum in 2013. Farage has played a high-profile role this year i
June 26, 2016
-
EU calls for UK’s early exit
The European Union wants a quickie divorce, but Britain wants time to think things over. Senior EU politicians demanded Saturday that the U.K. quickly cut its ties with the 28-nation bloc _ a process Britain says won‘t begin for several months _ as the political and economic shockwaves from the U.K.’s vote to leave reverberated around the world. "There is a certain urgency ... so that we don‘t have a period of uncertainty, with financial consequences, political consequences," French Foreign Mi
June 26, 2016
-
Brexit divorce 'not amicable' but must be quick: Juncker
European Commission chief Jean-Claude Juncker said Britain's planned departure from the European Union was "not an amicable divorce" but called for it to be quick."I do not understand why the British government needs until October to decide whether to send the divorce letter to Brussels," he told German public broadcaster ARD late Friday."I'd like it immediately."He admitted that the EU had hoped Britain would stay but that now it was key to make the separation process as speedy and painless
June 25, 2016
-
China-backed AIIB approves first 4 loans worth $509 million
The China-backed Asian Infrastructure Investment Bank (AIIB) has approved its first four loans worth US$509 million as the bank holds its first annual meeting. Three of the four loans were co-financed with other multilateral lenders such as the Asian Development Bank and the World Bank. The loans will be funded for infrastructure projects in Pakistan, Indonesia, Tajikistan and Bangladesh, the bank said in a statement. The AIIB "looks to take its place as one of the leading multilateral financial
June 25, 2016
-
SoftBank's founder reverses retirement plans, says heir apparent 'victim'
TOKYO (AFP) -- The boss of SoftBank Group on Wednesday admitted his desire to hang on to power a little longer had pushed away the former Google executive seen as his heir apparent.Masayoshi Son told an annual shareholders meeting he had changed his mind about the timeline for stepping down to make way for right-hand man Nikesh Arora.The India-born executive quit the telecoms corporation Tuesday, just two years after being plucked from a high-profile job at the US tech giant, with SoftBank sayin
June 22, 2016
-
Fed keeps interest rate steady as Brexit vote looms
WASHINGTON (AFP) -- The Federal Reserve held its key interest rate unchanged Wednesday, in part due to concerns about the disruption Britain‘s looming “Brexit” vote could have on global markets.While voicing confidence in continued U.S. economic growth, Fed Chair Janet Yellen said the June 23 referendum on Britain quitting the European Union was an important factor in the Fed keeping monetary policy on hold.“Clearly, this is very important decision for the United Kingdom and for Europe,” she sai
June 16, 2016
-
Alibaba sees growth rising to 48 percent in first forecast
Alibaba Group Holding Ltd. said that revenue growth will accelerate this fiscal year as China’s largest e-commerce company provided its first financial forecast since going public in 2014.The company predicts sales will rise at least 48 percent in the year ending March 2017 as it pushes into new markets and businesses beyond e-commerce. Part of that growth comes from Alibaba’s rapid deal-making: it spent about $18.7 billion on acquisitions and stock buybacks over the past year, including on e-co
June 14, 2016
-
Microsoft shifts to social with huge LinkedIn deal
WASHINGTON (AFP) -- Microsoft on Monday shifted its focus to social networking with a massive $26.2 billion deal for professional social network LinkedIn.With its biggest-ever acquisition and one of the largest in the tech sector, Microsoft is adding tools to connect with business as it moves further away from its roots as a pure software firm.The acquisition aims to position the former tech sector as a Facebook-like entity oriented to business, with an array of services centered around cloud co
June 14, 2016
-
World Bank slashes global growth forecast to 2.4%
WASHINGTON (AFP) -- A worried World Bank slashed its growth forecast for the global economy Tuesday, saying advanced economies are rebounding more slowly than expected and low commodity prices continue to hurt other countries.The Bank said that the global economy should grow at just 2.4 percent this year, the same lethargic pace of 2015 and much slower than the 2.9 percent it predicted in January.It said that the slow growth in advanced economies is holding back developed countries, with world t
June 8, 2016
-
Fed Chair Yellen says poor U.S. jobs report 'concerning'
PHILADELPHIA (AFP) -- Federal Reserve Chair Janet Yellen said Monday the dismal U.S. jobs report for May was "concerning" and "disappointing", but stressed she was still optimistic on the outlook for U.S. economic growth."One should never attach too much significance to any single monthly report," Yellen said, adding that the overall labor market situation has been "quite positive".Even so, in her first comments since Friday's monthly jobs market data shocked markets and sent the dollar tumbling
June 7, 2016
-
ECB holds rates, gives current stimulus time to work
VIENNA (AP) -- The European Central Bank is expected to underline that its current stimulus measures are boosting the economy of the 19 countries that use the euro_ and need time to work before any new monetary jolts are added. After the bank left its key interest rates unchanged at its meeting Thursday, President Mario Draghi is likely to repeat his calls for national governments to take more steps themselves to boost growth and not rely on the central bank so much. He has called for government
June 2, 2016
-
Bullard says world well prepared for U.S. rate hike
The president of the U.S. Federal Reserve Bank of St. Louis hinted at a possible U.S. rate hike in the near future Monday, claiming the world is well prepared for a U.S. rate hike."My sense is that markets are well prepared for a possible rate increase globally," James Bullard told reporters here. "My idea is that if all goes well, this will come out smoothly, and you won't get too much of a reaction in the global financial market."The St. Louis FRB president was on a visit to attend an internat
May 30, 2016
-
Janet Yellen says Fed could raise rates in coming months
Federal Reserve Chair Janet Yellen said Friday that an interest rate hike would be appropriate in the coming months if the economy keeps improving.While economic growth was relatively weak at the end of last year and beginning of this year, it appears to be picking up now based on recent data, Yellen said during a discussion at Harvard University.She said she expects the Fed to “gradually and cautiously increase” its key interest rate “and probably in the coming months, such a move would be appr
May 28, 2016
-
China weakens yuan fixing to lowest since 2011
China’s central bank weakened its currency fixing to the lowest since March 2011 as the dollar strengthened.The reference rate was lowered by 0.3 percent to 6.5693 per dollar. A gauge of the dollar’s strength rose to a two-month high Tuesday as traders boosted wagers that U.S. interest rates will rise. The yuan weakened 0.1 percent to 6.5636 in a third day of losses as of 10:27 a.m. in Hong Kong.A resurgent greenback is shaking up a strategy that the People’s Bank of China pursued over the past
May 25, 2016
-
China criticizes U.S. steel anti-dumping measures
BEIJING (AP) -- China has criticized U.S. anti-dumping penalties imposed on Chinese steel amid mounting complaints Beijing is exporting at improperly low prices to clear a backlog at home.The Commerce Ministry complained Wednesday that the duties of 522 percent announced on cold-rolled steel used in automobiles and other manufacturing were excessive and called on Washington to rescind them.Beijing faces mounting criticism from the United States and Europe over a flood of low-cost steel that West
May 19, 2016