The Korea Herald

Fed says bond program to end soon

Apr 28, 2011

WASHINGTON (AP) ― The economy and job creation have strengthened enough for the Federal Reserve to end on schedule a program of buying Treasury bonds to help the economy, the Fed said Wednesday. Ending a two-day meeting, the Fed made no changes to the program. The decision was unanimous. The bond purchases were intended to lower loan rates, encouraging spending and boost stock prices. But critic...
BOJ seen holding fire, cutting growth forecast

Apr 28, 2011
Apple earnings strong, couldn’t meet iPad demand

Apr 21, 2011
Citi’s Q1 profit falls 32% on lower loans

Apr 19, 2011

NEW YORK (AP) ― Citigroup’s first-quarter income fell 32 percent on lower revenue from investment banking and a decline in consumer loans. The bank was able to set aside fewer reserves for losses as more borrowers were able to keep up with their debt payments. The New York bank said Monday that it earned $3 billion, or 10 cents per share, compared with $4.4 billion, or 15 cents a share in the fi...
Foreign direct investment in China surges 33%

Apr 19, 2011

Foreign direct investment surged 33 percent in March from a year earlier as rising inflation and interest rates failed to damp overseas confidence in the world’s fastest-growing major economy. Foreign investments added $12.5 billion to China’s economy, the Ministry of Commerce said in a statement in Beijing Tuesday. Investments increased at an annual rate of 29 percent in the first quarter. Chi...
Geithner confident Congress will raise debt limit

Apr 18, 2011

Treasury secretary says Republicans agreed to increase the $14.3 trillion ceiling WASHINGTON (AP) ― Treasury Secretary Timothy Geithner says Republican leaders have privately assured the Obama administration that Congress will raise the government’s borrowing limit in time to prevent an unprecedented default on the nation’s debt. But a top Republican quickly pushed back Sunday and said there wa...
World Bank, IMF lead move to help North Africa

Apr 15, 2011

WASHINGTON (AFP) ― Global finance chiefs moved to aid strife-torn North Africa Thursday as the International Monetary Fund and World Bank warned of more potential social unrest from high food prices and joblessness. Finance ministers of leading economies and development bank heads discussed ways to help Egypt, Tunisia and other regional economies rebuild, as the annual spring meetings of the Wor...
Ireland passes IMF/EU test, Fitch ups outlook

Apr 15, 2011
G20 eyes anti-crisis plan, mulls recovery risks

Apr 15, 2011
U.S. Congress OKs budget cuts; fights await

Apr 15, 2011

Record spending cuts win approval, on way to Obama for signing, but bigger deficit fights loom WASHINGTON (AP) ― Congress sent President Barack Obama hard-fought legislation cutting a record $38 billion from federal spending on Thursday, bestowing bipartisan support on the first major compromise between the White House and newly empowered Republicans in Congress. “Welcome to divided government,...
Obama proposes $4tr in deficit cuts

Apr 14, 2011

U.S. president pitches spending cuts, laying down markers for 2012 campaign WASHINGTON, D.C. (AP) ― President Barack Obama coupled a call for $4 trillion in long-term deficit reductions with a blistering attack on Republican plans for taxes, Medicare and Medicaid on Wednesday, laying down markers for a roiling debate in Congress and the 2012 presidential campaign to come. Obama said spending cu...
BRICS grapple with China dominance in trade

Apr 13, 2011
G20 to work on imbalances plan

Apr 13, 2011
Moody’s may downgrade Toyota rating

Apr 6, 2011

TOKYO (AP) ― Moody’s Investors Service warned Wednesday it may downgrade its credit rating for Toyota Motor Corp. due to the financial fallout from suspended car production following the March 11 quake and tsunami. The rating agency said Toyota’s financial and operating performance will worsen as a result of the disasters, which are causing major disruptions in auto parts supply and have forced ...
Fed’s energy cost worries could mean rate hike

Apr 6, 2011

Notes released from March 15 meeting show growing worries about inflation WASHINGTON (AP) ― Federal Reserve officials raised concerns last month that a big jump in energy prices could weaken the economy and unleash inflation, prompting a few to suggest the possibility of tightening credit this year. Such a move usually involves boosting interest rates, although the minutes from the Fed’s closed...