Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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[Weekender] Geeks have never been so chic in Korea
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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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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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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US Air Force blames power loss, weather for F-16 crash in S. Korea in May 2023
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Samsung expected to introduce new Exynos processor in next Galaxy series
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Social networks make push as shopping destinations
WASHINGTON (AFP) ― They’re not just for sharing anymore: Facebook and Twitter are now looking to play a bigger role in shopping.Both major social networks have unveiled plans to start using “buy” buttons on their sites, which could start having an impact on “social shopping” in the coming holiday season.The idea of using social networks such as Facebook to promote e-commerce has been around for some time, but so far has failed to deliver much. Facebook had some short-lived programs for “digital
Oct. 5, 2014
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GM recalls over 60,000 Cadillac, Pontiac sedans
DETROIT (AP) ― General Motors is recalling more than 60,000 vehicles in North America, the latest round of recalls this year for the automaker.The company outlined three new recalls Saturday, the biggest of which affects 46,873 vehicles in the U.S.The recalls are Pontiac G8s from the 2008 through the 2009 model years and 2011-2013 model Chevrolet Caprice PPV left-hand-drive sedans imported from Australia.The ignition switch key may shift from the “run” position when touched by the driver’s knee,
Oct. 5, 2014
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Why does Bernanke want a mortgage? Low interest rates and tax breaks
Ben Bernanke says he can’t refinance his house. With his book advance and speaking fees, why does the former Federal Reserve chairman even want a mortgage? Even for the wealthiest Americans who can afford to buy their houses outright, mortgages come with a double benefit: Interest rates low enough that returns on investments can beat them, and a tax subsidy that covers nearly half the interest cost. A 15-year loan carries a 3.36 percent interest rate this week, according to Freddie Mac. And at t
Oct. 5, 2014
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U.S. states probe JPMorgan data theft
NEW YORK (AFP) ― U.S. states are investigating a cyberattack against JPMorgan Chase that stole customer information, it emerged Friday, a day after the big bank revealed the massive scope of the breach.The attorney general of Illinois, Lisa Madigan, and her counterpart in Connecticut, George Jepsen, were the first to comment officially on the bank’s management of the data crisis.“This is among the most troubling breaches ever ― and not just because of its magnitude, but because it proves that th
Oct. 5, 2014
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Surge of hiring cuts U.S. jobless rate to 5.9%
WASHINGTON (AP) ― A surge in hiring last month helped drive the nation’s unemployment rate down to a six-year low of 5.9 percent ― within striking distance of what economists consider a healthy level. The encouraging numbers ― contained in the last government report on unemployment before the midterm elections ― pushed the Dow Jones average up 209 points to 17,010 and could give an important boost at the polls to Democrats and to incumbents in general.U.S. employers added a robust 248,000 jobs i
Oct. 5, 2014
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eBay to spin off PayPal
NEW YORK (AFP) ― U.S. online retail giant eBay unveiled plans Tuesday to spin off PayPal, aiming to help the unit compete better in the fast-moving online payments segment.The plan, to take effect next year, comes after months of pressure led by activist investor Carl Icahn, who had assailed eBay for poor management and claimed that keeping eBay tied with PayPal depressed the value of both.An eBay statement said that a board review concluded that “a changing competitive landscape creates enormou
Oct. 1, 2014
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Apple unveils gold iPad
Apple Inc. will add a gold color option for its full-size iPads in an effort to boost a category that’s posted declining shipments this year, according to people familiar with the plans. New versions of the company’s 9.7-inch iPads, anticipated to be unveiled this month, will include gold as a choice of color for the rear metal cover, adding to the silver and gray available for the lighter iPad Air, the people said, asking not to be identified ahead of an announcement. That brings the color pale
Oct. 1, 2014
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EU says Apple gets illegal tax benefits in Ireland
BRUSSELS (AP) ― Apple risks having to repay Ireland tax rebates worth billions of dollars after the European Union’s competition watchdog said Tuesday the company appears to be benefiting from illegal tax deals there. In a preliminary report into the company’s overseas tax practices, the 28-nation bloc’s executive Commission said the low tax treatment Ireland is granting Apple counts as state aid and could be illegal under EU law. If the finding is confirmed, Apple Inc. could face a huge repayme
Oct. 1, 2014
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News Corp. buys Move to boost its real estate
NEW YORK (AFP) ― Rupert Murdoch’s publishing group News Corp. is planning its biggest acquisition since splitting off its entertainment business, buying real estate listings website Move for $950 million.The U.S. media giant plans to offer $21 a share, or 37 percent higher than the NASDAQ price at closing Monday, according to a statement published Tuesday by the company.The transaction was unanimously approved by the board of Move and the two sides hope to complete the transaction before the end
Oct. 1, 2014
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Microsoft skips Windows 9 to emphasize advances
SAN FRANCISCO (AP) ― The next version of Microsoft’s flagship operating system will be called Windows 10, as the company skips version 9 to emphasize advances it is making toward a world centered on mobile devices and Internet services.The current version, Windows 8, has been widely derided for forcing radical behavioral changes. Microsoft is restoring some of the more traditional ways of doing things and promises that Windows 10 will be familiar for users regardless of which version of Windows
Oct. 1, 2014
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IMF urges infrastructure spending to boost recovery
The International Monetary Fund is urging countries to boost infrastructure spending to strengthen the sluggish global recovery. Increased investment in infrastructure such as roads and bridges is “one of the few remaining policy levers available to support growth” in advanced economies, given that monetary policy is already loose, IMF staff said Tuesday in a report to be included in its next World Economic Outlook. “In all economies it would help boost medium-term output,” they said. Policymake
Oct. 1, 2014
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ECB under pressure as inflation falls again
LONDON (AP) ― Inflation across the 18 euro countries dipped further toward zero in September, piling pressure on the European Central Bank to pull the trigger on its biggest stimulus weapon ― a large-scale program to create new money. Expectations that the bank will back such a program ― similar to the one pursued by the U.S. Federal Reserve ― mounted Tuesday after official figures showed consumer prices in the eurozone rose only 0.3 percent in the 12 months to September. The decline from the pr
Oct. 1, 2014
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Argentina defies U.S. judge by depositing debt payment
BUENOS AIRES (AFP) ― Argentina deposited a $161 million payment on its restructured debt Tuesday, defying a U.S. judge who ruled it in contempt of court and ordered it to pay two “holdout” creditors first.The Argentine government, forced into default for the second time in 13 years as a result of the bitter legal dispute, said it had deposited the payment in a Buenos Aires account of the state-run Banco Nacion, just in time for a Tuesday deadline.“By making said deposits, the Argentine Republic
Oct. 1, 2014
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Are toilets and bank accounts connected? In India, yes
Prime Minister Narendra Modi’s plan to develop India includes creating toilet access for all 1.2 billion people and opening a bank account for every adult who doesn’t already have one. India’s state-owned lenders are being called on to do both, threatening to erode profits and add expenditures at firms saddled with nonperforming loans. Modi has asked banks to open branches within 5 kilometers of all of India’s 664,000 villages in order to reach 75 million households that have no access to formal
Oct. 1, 2014
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China to start direct yuan-euro trading
Yuan and euro banknotes. (Bloomberg)SHANGHAI (AFP) ― China will begin direct trading between its yuan currency and the euro starting on Tuesday, the national foreign exchange market’s operator said, as Beijing seeks to broaden the unit’s global usage.The China Foreign Exchange Trade System already offers a platform for yuan-euro transactions but direct trading means the U.S. dollar will not be used as an intermediary currency to calculate rates, according to a statement released Monday.The marke
Sept. 30, 2014
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Judge holds Argentina in contempt over bond orders
NEW YORK (AP) ― A judge, calling civil contempt a rarity, ruled that Argentina was in contempt of court on Monday for its open defiance of his orders requiring that U.S. hedge funds holding Argentine bonds be paid the roughly $1.5 billion they are owed if the majority of the South American nation’s bondholders are paid interest on their bonds. U.S. District Judge Thomas P. Griesa made the announcement after a lawyer for U.S. hedge funds led by billionaire hedge fund investor Paul Singer’s NML Ca
Sept. 30, 2014
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More gloomy data casts doubt on Japan recovery
TOKYO (AFP) ― Japan’s factory output saw a surprise drop and household spending kept falling in August, data showed Tuesday, fanning fears about the impact of April’s sales tax rise on the economy.The figures will add to worries that the country’s tentative recovery has been knocked off kilter by the increased levy and strengthen the hand of those arguing against another hike next year.Industrial production shrank 1.5 percent month-on-month in August after rising 0.4 percent in July, the ministr
Sept. 30, 2014
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Fed’s Evans says patience on rates means 2016 with low inflation
Federal Reserve Bank of Chicago president Charles Evans said he favors holding the federal funds rate near zero until the first quarter of 2016 to ensure that the economy is able to withstand higher borrowing costs. “Under appropriate policy, and with a quite good economic outlook, I still only have inflation slowly coming up to our inflation objective,” Evans, who will have a vote next year on the Federal Open Market Committee, told reporters Monday after a speech to economists in Chicago. “So
Sept. 30, 2014
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EU to accuse Apple of taking illicit Irish state aid: report
BRUSSELS (AFP) -- The European Union said it will unveil on Tuesday details of investigations into sweetheart tax deals for Apple amid reports it will accuse the U.S. tech giant of getting illegal state aid.The probe into Apple's tax affairs in Ireland, where it has for years enjoyed an effective rate of less than 2.0 percent, found the schemes gave the company an unfair competitive advantage, the Financial Times and Wall Street Journal reported.The EU launched an investigation in June into tax
Sept. 29, 2014
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Air France pilots end long strike
PARIS (AP) ― Despite no deal in sight, Air France’s main pilots union on Sunday unilaterally ended a 14-day strike that grounded roughly half of the airline’s flights, stranded passengers worldwide, cost tens of millions of dollars and led France’s prime minister to decry a “selfish” walkout.After a late-night, 15-hour negotiating session with management, leaders of the SNPL pilot union walked away with no accord, but with the realization that the strike “is not an end in itself,” union spokesma
Sept. 29, 2014