Most Popular
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Han Kang speaks up on Nobel Prize, thanks ‘enormous wave’ of blessing
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Han Kang declines press conference, not to celebrate, citing global wars
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Former Ador CEO gains ground in legal battle with Hybe, as whistleblower reveals plagiarism evidence
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Han Kang drives readers to bookstores both online and offline
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Han Kang: From blacklist to Nobel laureate
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No South Korean military drone entered Pyongyang skies: JCS
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Aunt sentenced to 15 years for throwing 11-month-old nephew from high-rise apartment
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Novelist Han Seung-won says daughter's historic Nobel win feels surreal
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Korea Zinc goes all in to fend off takeover
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'Heavy Snow,' Han So-hee's big screen debut, examines stereotypes of beauty
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Fed's favored inflation gauge shows cooling price pressures, clearing way for more rate cuts
The Federal Reserve's preferred inflation measure on Friday provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts this year and next. Prices rose just 0.1 percent from July to August, the Commerce Department said, down from the previous month’s 0.2 percent increase. Compared with a year earlier, inflation fell to 2.2 percent, down from 2.5 percent the previous month and barely above the Fed's 2 percent inflation
Sept. 27, 2024
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China’s biggest stock buying frenzy in years overwhelms exchange
Chinese equities capped their biggest weekly rally since 2008 with a burst of trading that overwhelmed the Shanghai stock exchange, underscoring a dramatic shift in investor sentiment after Xi Jinping’s government ramped up economic stimulus. In an echo of the rally that followed China’s massive stimulus during the global financial crisis, the CSI 300 Index of large-cap shares soared 4.5 percent on Friday — bringing this week’s gain to 16 percent. Trading activity was
Sept. 27, 2024
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WTO to examine China complaint over US electric vehicle subsidies
The World Trade Organization agreed Monday to establish an expert panel to examine US subsidies for electric vehicles after Beijing accused Washington of unfair competition. The United States slammed China's complaint, insisting the country was seeking "to distract from its own non-market policies and practices that undermine a fair, competitive, and mutually beneficial trading system." The world's second-largest economy initially brought the case to the WTO in March, chargin
Sept. 23, 2024
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US to propose ban on Chinese car software
WASHINGTON (Reuters) -- The US Commerce Department was expected on Monday to propose prohibiting Chinese software and hardware in connected and autonomous vehicles on American roads due to national security concerns, two sources told Reuters. The Biden administration has raised serious concerns about the collection of data by Chinese companies on US drivers and infrastructure as well as the potential foreign manipulation of vehicles connected to the internet and navigation systems. The proposed
Sept. 22, 2024
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Global stock markets diverge after global rally
Global stock markets diverged and the dollar was mixed against main rivals Friday following an equities rally triggered by a jumbo US interest rate cut this week. In early afternoon deals, European stocks pared back hefty gains from the previous session, won after the Federal Reserve opted for a bumper 50-basis-point rate reduction and pledged further cuts as inflation cools. There had been fears the move could signal officials were worried about the economy and were behind the curve in easing p
Sept. 20, 2024
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Boeing, union to resume talks as strike quiets Seattle plants
Negotiators from Boeing and the machinists union are scheduled to resume talks Tuesday after some 33,000 workers went on strike late last week. Members of the International Association of Machinists and Aerospace Workers District 751 have been picketing 24 hours a day following the walkout early Friday morning, shuttering Seattle-area factories that assemble the 737 MAX and 777. "Now is the moment to rise -- show Boeing that our voices aren't just loud; they are unstoppable," the
Sept. 17, 2024
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Powell at Jackson Hole: 'The time has come' for the Fed to soon begin reducing interest rates
JACKSON, Wyoming (AP) — With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday. Powell did not say when rate cuts would begin or how large they might be, but the Fed is widely expected to announce a modest quarter-point cut in its benchmark rate when it meets in mid-September. “The time has come for policy to adjust," Powell said in his keynot
Aug. 24, 2024
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[Graphic News] Samsung retains global smartphone market lead in Q2
Samsung Electronics has maintained its lead in the global smartphone market for the second consecutive quarter this year, according to data from market research firm International Data Corporation. In the second quarter, Samsung shipped 53.9 million smartphones, securing an 18.9 percent market share. Apple followed, shipping 45.2 million units and capturing 15.8 percent of the market. Overall, global smartphone shipments reached 285.4 million units, marking a 6.5 percent increase from last yea
Aug. 7, 2024
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[Graphic News] TikTok leads global social app revenue surge in Q1
Global in-app payment revenue for social applications reached an all-time high in the first quarter of 2024, with the Chinese platform TikTok leading the charge, according to a report by data analysis company Sensor Tower. In-app payment revenue for social apps worldwide hit $4.5 billion in Q1 2024, marking a 19 percent increase year-over-year. TikTok’s in-app purchases soared to over $2 billion, a 26 percent rise from the previous year, driven primarily by livestreaming sponsorships. Yo
July 18, 2024
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Germany to ban use of China's Huawei, ZTE in 5G network
Germany said Thursday it will phase out the use of components from Chinese telecom giants Huawei and ZTE in its 5G networks in the coming years due to national security concerns. Parts from the firms will no longer be used in "core" 5G mobile networks by the end of 2026 at the latest, the interior ministry said. In 5G access and transmission infrastructure, the systems of the telecom firms must be replaced by the end of 2029. "We are protecting the central nervous systems of Germa
July 11, 2024
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European shares fall on French election uncertainty; log weekly gain
European shares fell on Friday, weighed down by losses in banks and energy stocks as investors became more cautious ahead of the second round of voting in French parliamentary elections. The pan-European STOXX 600 index ended 0.2% lower, after notching a more than one-week high early in the day. The index, however, clocked a 1% gain for the week. French financial markets have come under selling pressure since President Emmanuel Macron called for a snap election last month, with concerns that a f
July 6, 2024
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[Graphic News] Qatar Airways named world’s top airline, Korean Air No. 2
Qatar Airways has been named the world's best airline by aviation rating website AirlineRatings.com. The Doha-based carrier has taken the title, “Airline of the Year 2024,” on the world’s only safety and product rating website. AirlineRatings.com releases an annual ranking of the top 25 airlines, based on criteria including: aircraft safety, flight crew service, serious accident history and passenger evaluations. This year, Korean Air secured second place on the list, fo
June 28, 2024
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Apple and Meta have discussed AI partnership: WSJ
Facebook parent Meta Platforms has discussed integrating Meta's generative AI model into Apple Inc's recently announced AI system for iPhones, the Wall Street Journal reported on Sunday. Apart from Google and Meta, AI startups Anthropic and Perplexity have also been in discussions with Apple to bring their generative AI to Apple Intelligence, the Journal reported, citing people familiar with the matter. Apple, Meta, Perplexity and Anthropic did not respond immediately to requests for c
June 23, 2024
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Fed freezes key interest rate for 7th straight time, forecasts one rate cut this year
The US Federal Reserve on Wednesday held its benchmark lending rate steady for a seventh consecutive time and projected one rate cut later this year as it noted "modest further progress" towards its 2 percent inflation target. After the two-day Federal Open Market Committee meeting, the central bank announced the decision to maintain the rate in the 5.25 to 5.50 percent range, a 23-year high. The decision came hours after new data showed inflation eased slightly last month. FOMC member
June 13, 2024
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Tycoon Musk launches Starlink in Indonesia
Tech billionaire Elon Musk launched Sunday his Starlink service on Indonesia's resort island of Bali as the country aims to extend internet to its remote areas. Millions of people in Indonesia, a vast archipelago of more than 17,000 islands, are not currently hooked up to reliable internet services. Musk, making his first visit to the Southeast Asian nation, inaugurated the satellite unit services at a clinic in Bali's capital Denpasar on Sunday afternoon. He also signed an agreement o
May 19, 2024
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Biden unveils tariff hikes on Chinese EVs, solar cells, semiconductors, other imports
US President Joe Biden plans to quadruple tariffs on Chinese electric vehicles and hike duties for solar cells, semiconductors and other "strategic" sectors, the White House said Tuesday, as he is revving up his reelection campaign. The Biden administration announced a new package of tariff increases, casting it as an endeavor to protect American workers and businesses from what it calls China's unfair trade practices, and accusing China of flooding global markets with "artif
May 15, 2024
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[Graphic News] Samsung tops global smartphone market in Q1
Samsung Electronics has reclaimed the top spot in global smartphone sales, surpassing Apple. According to market research firm IDC, Samsung Electronics ranked first in market share (20.8 percent), with 60.1 million smartphones sold, in the first quarter of this year. Apple, which sold 50.1 million smartphones, retreated to second place in Q1 with 17.3 percent of the market share. Samsung’s sales fell by 0.7 percent compared to the first quarter of last year, but Apple sales showed a shar
April 30, 2024
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US probes whether Tesla Autopilot recall did enough to make sure drivers pay attention
The US government's auto safety agency is investigating whether last year's recall of Tesla's Autopilot driving system did enough to make sure drivers pay attention to the road. The National Highway Traffic Safety Administration says in documents posted on its website Friday that Tesla has reported additional crashes involving Autopilot since the recall, raising concerns at the agency about the effectiveness of the remedy. The recall involved more than 2 million vehicles, nearly
April 26, 2024
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EU toughens safety rules for online retailer Shein
The European Union on Friday added Chinese-founded online retailer Shein to its list of digital companies that are big enough to come under stricter safety curbs. The company joins Facebook, TikTok, X, YouTube and others on a list of "very large online platforms" which have more than 45 million monthly active users in the European Union. From the end of August -- four months after the designation -- Shein will have to abide by tougher rules set out in the Digital Services Act (DSA),
April 26, 2024
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Fed: Elevated inflation will likely delay rate cuts this year
Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates. “Recent data have clearly not given us greater confidence" that inflation is coming fully under control and "instead indicate that it’s likely to take longer than expected to achieve that confidence,” Powell said during a panel discussion at the Wilson Cen
April 17, 2024