The Korea Herald

IMF to release Greek funds despite EU delay

Jun 17, 2011
Greek riots, political chaos hammer markets

Jun 16, 2011

ATHENS, Greece (AP) -- Greece's prime minister, struggling to ensure Parliamentary approval for a crucial austerity bill, said he would reshuffle his Cabinet and seek a vote of confidence for his new government after coalition talks with opposition parties failed. The negotiations collapsed Thursday as rioters clashed with police in the streets of Athens during a general strike and renewed fears...
Bernanke urges GOP to back higher debt limit

Jun 15, 2011

Fed chief says brinkmanship threatens to backfire and harm the economy WASHINGTON (AP) ― Federal Reserve Chairman Ben Bernanke on Tuesday urged Republicans to support raising the nation’s borrowing limit. He said threatening to block the increase to gain deeper federal spending cuts could backfire and worsen the economy. Even a short delay in making payments on the nation’s debt would cause sev...
S&P cuts Greece credit rating to lowest

Jun 14, 2011

ATHENS, Greece (AP) -- Standard & Poor's cut Greece's credit rating deeper into junk territory Monday, saying the country is likely to default on its massive debts at least once by 2013 -- a decision Athens said ignored its efforts to secure continued funding in coming years The rating agency said the downgrade from B to CCC ``reflects our view that there is a significantly higher likelihood of ...
Hackers nab card data from Citi customers

Jun 10, 2011

NEW YORK (AP) ― Citigroup Inc. has become the latest victim in a string of high-profile data thefts by hackers targeting some of the world’s best-known companies. The New York bank said Thursday that about 200,000 Citibank credit card customers in North America had their names, account numbers and email addresses stolen by hackers who broke into Citi’s online account site. The breach comes afte...
ECB’s Trichet signals rate increase in July

Jun 10, 2011

FRANKFURT, Germany (AP) ― The head of the European Central Bank signaled another likely interest rate hike in July, warning that higher oil and commodity prices must not be allowed to fuel an inflationary spiral as Europe’s economy grows. Jean-Claude Trichet also reiterated the bank’s opposition to letting Greece restructure its massive debts and was skeptical about a German proposal to get Gree...
More ads hit online TV as Web audiences grow

Jun 9, 2011

Television networks gradually show more commercials online as viewer habits change LOS ANGELES (AP) ― One of the rewards of watching TV online is not having to sit through as many commercials. Now the networks are chipping away at that little luxury. CBS shows twice as many ads per show on its website as it did last year. The CW network shows four times as many. Dozens of shows from major cable...
Lagarde: Pleased with China talks

Jun 9, 2011

BEIJING (AP) ― French Finance Minister Christine Lagarde said Thursday she is “very positive” after talks with Chinese officials about her candidacy to head the International Monetary Fund and said Beijing’s stake in the body should increase. Lagarde is on a global tour to promote her candidacy to succeed Dominique Strauss-Kahn, who quit after he was charged with sexually assaulting a New York h...
Taxpayer loss on auto bailout narrows

Jun 2, 2011

White House touts value of emergency loans to GM and Chrysler WASHINGTON (AP) ― Taxpayers will lose about $14 billion in the government’s $80 billion bailout of Chrysler and GM, the White House said Wednesday, portraying the outcome as good news since the losses are far lower than originally anticipated. Seizing on the figures, the Obama administration took credit for the resurgence of the U.S....
MS demos new Windows 8 for PC

Jun 2, 2011

RANCHO PALOS VERDES, California (AP) ― Microsoft Corp. demonstrated its new operating system at the “D: All Things Digital” conference on Wednesday, a full version of Windows that will operate on tablets and personal computers. For now, it’s called Windows 8. Executives said that as mobile devices have gotten more powerful, they are able to run the full version of Windows. The operating system ...
Japan, EU to start trade talks

May 29, 2011

BRUSSELS (AP) ― Japan and the European Union agreed at a summit meeting Saturday to begin negotiations on a free trade agreement that would deepen economic ties between two of the world’s largest economies. As a bloc, the EU is the world’s largest economy; Japan is number four. Negotiations will be preceded by what the leaders called a “scoping exercise” to ensure that both sides share the same ...
Culture clash dents Brazil push

May 29, 2011

China eyes huge economic, business gains in S. American nation SAO PAULO (AP) ― Stocking shelves in a Chinese grocery store, Thiago warned that he didn’t want to be caught chatting during working hours. Within seconds, however, the Brazilian unleashed a pent-up flood of complaints about the owners, who lingered just beyond hearing distance. “My bosses have never heard of a day off,” said the 20...
Economies around the world growing more slowly

May 27, 2011

WASHINGTON (AP) ― From the United States to Europe and even to booming China, the global economy is showing signs of strain. Most major economies are expected to keep growing. But evidence is mounting that many around the world are struggling to expand as fast as they did last year. European governments are struggling with debts and squeezed budgets. Britain’s economy scarcely grew at the start...
Crisis, stagflation stalk global recovery: OECD

May 26, 2011

OECD sees world growth of 4.2%, urges Fed to raise rates PARIS (AFP) ― Crisis still stalks the global economy with stagflation lurking and Japan set for recession this year despite moderate overall recovery, the OECD said on Wednesday, warning against complacency. The Organization for Economic Cooperation and Development held its 2011 global growth forecast steady at 4.2 percent in its latest s...
Greece’s return to bond markets in 2012 unlikely

May 23, 2011

EU head calls for independent privatization body to tackle debt BERLIN (AP) ― Greece’s prime minister admitted for the first that his country might not be able to tap the markets for its borrowing needs next year as the head of the eurogroup urged the debt-ridden country to set up an independent privatization body overseen by the European Union to bring down its ballooning debt level. Tweet Sha...