Most Popular
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[Weekender] Geeks have never been so chic in Korea
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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US military commander in S. Korea during Gwangju uprising dies
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US expert says N. Korea might ignore Trump if he returns to White House
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[Photo News] Seoul seeks 'best sleeper'
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Yoon vows to advance freedom, welfare to uphold spirit of 1980 pro-democracy uprising
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Toyota at top in global sales over VW, GM
TOKYO (AP) ― Toyota kept its lead over rivals Volkswagen and General Motors as the world’s top-selling automaker in the first nine months of the year, Monday reporting record sales of 7.615 million vehicles, up nearly 3 percent from the previous year. Volkswagen said earlier this month it sold 7.40 million vehicles for January-September, barely edging out General Motors Co. in the closely watched auto sales race. GM reported sales of 7.372 million cars and trucks worldwide earlier this month. Ja
Oct. 27, 2014
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Ebola drugmaker Fujifilm to buy U.S. vaccine maker
TOKYO (AFP) ― Fujifilm said Monday it would buy a U.S. vaccine maker as the Japanese firm boosts its supply of an experimental Ebola drug to help stem the spread of the virus.The deal would see Fujifilm take a 49 percent stake in Kalon Biotherapeutics, with plans to buy the whole company “in the future,” the company said, without supplying financial details.Japan‘s leading Nikkei business daily said the acquisition would be worth several billion yen.Kalon, established in 2011 by the State of Tex
Oct. 27, 2014
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Court finds Dolce & Gabbana not guilty of tax evasion
ROME (AFP) ― The Italian Supreme Court on Friday overturned fraud convictions and 18-month jail terms against celebrated fashion duo Domenico Dolce and Stefano Gabbana, their company announced. “We have always been honest and we are extremely proud of this recognition by the Italian Court of Justice. Viva l’Italia,” the two fashion house chiefs said in a statement.“The Italian Supreme Court of Justice found Domenico Dolce and Stefano Gabbana not guilty of tax evasion,” a company press release sa
Oct. 26, 2014
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Italians challenge Renzi job reforms
ROME (AP) ― Hundreds of thousands of people marched in Rome Saturday to protest against Premier Matteo Renzi’s drive to make it easier to fire workers.Two noisy marches crisscrossed the heart of the Italian capital, snarling traffic for hours. Demonstrators cheered as CGIL labor confederation head Susanna Camusso promised more protests and strikes unless Renzi abandons efforts to give employers considerably more leeway to fire workers. The center-left premier contends businesses fear hiring work
Oct. 26, 2014
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25 lenders set to fail ECB’s health-check
Twenty-five lenders in the European Central Bank’s euro-area bank health check are poised to fail the regulator’s Comprehensive Assessment, according to a draft communique of the final results seen by Bloomberg News. One-hundred-and-five banks are shown passing the review, according to the draft statement. Of the lenders that failed, about 10 will still face capital shortfalls they need to plug, according to a person with knowledge of the matter, who asked not to be identified because they weren
Oct. 26, 2014
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Britain slams $2.6 billion EU budget demand
LONDON (AFP) ― A demand for Britain to pay an extra 2.1 billion euros ($2.6 billion) to the European Union shows the EU is a “thirsty vampire,” euroskeptic leader Nigel Farage said on Friday, as lawmakers voiced anger over the move.Farage, leader of the U.K. Independence Party, said Prime Minister David Cameron was powerless to prevent the payout being levied on Britain because its economy is growing faster than other European nations.“David Cameron once claimed that he had reduced the EU budget
Oct. 26, 2014
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Apple CEO meets Chinese official amid iCloud hacking row
BEIJING (AFP) ― Apple CEO Tim Cook met a senior Chinese official Wednesday, days after hackers targeted the company’s iCloud service in an attack which an anti-censorship group claims originated in China.Cook and Vice Premier Ma Kai “exchanged views on protection of users’ information” during a meeting at the ruling Communist Party’s Zhongnanhai leadership compound, the official Xinhua news agency said.The pair “also exchanged views on strengthening cooperation in information and communication f
Oct. 23, 2014
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Lew urges Germany to boost growth
WASHINGTON (AFP) ― U.S. Treasury Secretary Jacob Lew, in a meeting Wednesday with German Economy Minister Sigmar Gabriel, called on Germany to boost public spending to stimulate stuttering eurozone growth, the Treasury said.Lew and Gabriel, who met in Washington, discussed the slowdown in global economic growth and particularly in the 18-nation eurozone.The Treasury chief “emphasized the importance of strengthening public investment, and urged German and other European leaders to boost domestic
Oct. 23, 2014
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Lloyds said to cut 9,000 jobs
Lloyds Banking Group Plc, Britain’s largest mortgage provider, will announce about 9,000 job cuts next week as its customers shift to online services from physical branches, a person with knowledge of the matter said. The bank will detail the cuts, a target for branch closures and the increasing automation of its services as part of a new three-year plan on Oct. 28, when it releases third-quarter results, said the person, who asked not to be identified because the strategy hasn’t been finalized.
Oct. 23, 2014
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Yahoo profit rises on Alibaba divestment
SAN FRANCISCO (AFP) ― Yahoo said Tuesday its quarterly profit surged with its sale of shares in Chinese Internet powerhouse Alibaba, and also saw improving results from its mobile Internet initiatives.Net profit jumped to $6.8 billion, which included $6.3 billion from its Alibaba shares. But profits excluding one-time items were stronger than expected, and pumped up Yahoo shares by 2.7 percent in after-hours trade.Revenue from operations inched up a percent to $1.15 billion, according to third q
Oct. 22, 2014
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Ukraine, Russia end gas talks without breakthrough
BRUSSELS (AP) ― Ukraine and Russia on Tuesday failed to get a decisive breakthrough in their standoff over gas supplies to Kiev and will resume European Union-sponsored talks next week. Russian President Vladimir Putin and his Ukraine counterpart Petro Poroshenko had agreed on a broad thrust of a deal on Friday, but the issues on how, when and how much Ukraine should pay continued to divide the sides. “One obstacle is that Ukraine has not paid its gas bills for seven months,” said EU Energy Comm
Oct. 22, 2014
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Shaky Japanese economy hit by growing trade deficit
TOKYO (AFP) ― Japan’s shaky economy was dealt another blow Wednesday, as official data showed a widening September trade deficit that puts the world’s number-three economy on track to log a record annual shortfall.The worse-than-expected deficit of 958.3 billion yen ($8.96 billion) comes on the back of a string of weak figures and a sharp contraction in the second-quarter, which raised fears that a recovery in Japan’s economy has been derailed.The latest numbers translated into a trade deficit o
Oct. 22, 2014
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EU fines JPMorgan over rate rigging
BRUSSELS (AFP) ― The European Commission fined U.S. banking giant JPMorgan more than 61 million euros ($78 million) on Tuesday for its role in rigging benchmark international interest rates.JPMorgan worked with Royal Bank of Scotland in 2008-09 to fix interest rates on Swiss franc LIBOR contracts, another example of major banks colluding “instead of competing with each other,” EU Competition Commissioner Joaquin Almunia said.“Our economy needs a healthy, transparent, well-functioning financial s
Oct. 22, 2014
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APEC chiefs meet amid global worries
BEIJING (AFP) ― The global economic recovery is beset by “downside risks,” China’s vice-premier told Asia-Pacific finance ministers Wednesday, a day after growth in the world’s second-largest economy hit a five-year low.The meeting in Beijing of ministers from the Asia-Pacific Economic Cooperation forum precedes the group’s annual summit next month, when Chinese President Xi Jinping is to host counterparts including U.S. President Barack Obama, Russian President Vladimir Putin and Japanese Prime
Oct. 22, 2014
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New iPhones deliver big profits
SAN FRANCISCO (AFP) ― New big-screen iPhones helped propel Apple’s profit and revenue in the last quarter, as the California tech giant smashed earnings expectations.The company reported on Monday that profit rose 13 percent to $8.5 billion, as revenues jumped to $42.1 billion in the fiscal fourth quarter ending Sept. 27.Apple said it sold more than 39 million iPhones in the quarter, boosted by last month’s launch of the large-screen iPhone 6 and 6 Plus, which hit some markets on Sept. 19. That
Oct. 21, 2014
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China’s growth slowest in 5 years
BEIJING (AP) ― China’s economic growth waned to a five-year low of 7.3 percent last quarter, raising concerns of a spillover effect on the global economy but falling roughly in line with Chinese leaders’ plans for a controlled slowdown.The third quarter figures, released Tuesday, put China on course for annual growth somewhat lower than the 7.5 percent targeted by leaders, though they have indicated there is wiggle-room in their plan. The world’s No. 2 economy grew 7.5 percent from a year earlie
Oct. 21, 2014
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Fed’s Dudley warns banks must improve culture or be broken up
Banks must change the way employees are compensated and take other steps to fix a corporate culture that encourages misdeeds or face being broken up, said William C. Dudley, president of the Federal Reserve Bank of New York. If bad behavior persists, “the inevitable conclusion will be reached that your firms are too big and complex to manage effectively,” Dudley told industry leaders in a speech Monday at the New York Fed. “In that case, financial stability concerns would dictate that your firms
Oct. 21, 2014
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Germany, France to draw up investment plans
BERLIN (AP) ― Germany and France agreed Monday to draw up proposals by the beginning of December to boost investment as they try to come up with a strategy that will help shore up the European economic recovery.Though the decision to come up with an investment plan shows the two countries trying to work together closely, the divide between Berlin and Paris on economic matters is wide.The German government has faced pressure from abroad to pump more money into the economy to help bolster both its
Oct. 21, 2014
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Russia inspecting more than 200 outlets: McDonald’s
Russian consumer-safety regulators are conducting inspections at more than 200 McDonald’s Corp. restaurants around the country. Russian courts have temporarily closed nine restaurants, the Oak Brook, Illinois-based company said in a statement on its Russian corporate website. McDonald’s said it disagreed with the decisions and that it will appeal to a higher court. McDonald’s arrived in Soviet-era Russia in 1990 and was seen as a symbol of the nation’s rising prospects, helping open the communis
Oct. 20, 2014
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IBM agrees to pay Globalfoundries $1.5b to take unit in retreat from chips
International Business Machines Corp. agreed to pay Globalfoundries Inc. $1.5 billion to take an unprofitable chip-manufacturing unit off its hands, according to two people with knowledge of the matter. IBM will also receive $200 million worth of assets, making the net value of the deal $1.3 billion, said the people who asked not to be identified because the agreement is private. The companies plan to announce the deal Monday, the people said. IBM put out a statement Sunday saying it planned to
Oct. 20, 2014