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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HSBC agrees on $550m payment to end U.S. mortgage claims
WASHINGTON (AP) ― British bank HSBC has agreed to pay $550 million to resolve U.S. claims that it misled U.S. mortgage giants Fannie Mae and Freddie Mac about risky mortgage securities it sold them before the housing market collapsed in 2007.The Federal Housing Finance Agency, which oversees Fannie and Freddie, announced the settlement Friday with HSBC. London-based HSBC is Europe’s largest bank and also has extensive operations in the U.S. Its U.S. division has about $289 billion in assets, mak
Sept. 14, 2014
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Argentina faces new devaluation
BUENOS AIRES (AFP) ― Recession-hit Argentines are flocking to buy dollars, nervous over the government’s latest debt default and pressure from the business community to devalue the peso for the second time this year.Officially, a dollar is worth 8.42 Argentine pesos.But it takes 14.26 pesos to buy one on the black market, a gap that only shows signs of widening.President Cristina Kirchner has tried to convince Argentines to stop hoarding greenbacks and spend their pesos instead.“You have to inve
Sept. 14, 2014
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Tech giants bet on ‘smart home’ revolution
BERLIN (AFP) ― It’s long been the stuff of science fiction, but tech giants hope the “smart home,” where gadgets talk to each other and the fridge orders the milk, will soon become reality.The futuristic vision of wireless domestic bliss that puts people and their smartphones or tablets at the center of an “Internet of Things” is a key theme at this year’s IFA consumer electronics fair in Berlin.Industry titans such as Google, Samsung and Apple have been battling for an early lead in the race to
Sept. 11, 2014
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Li promises more open economy
BEIJING (AP) ― China’s premier promised Wednesday to open the world’s No. 2 economy wider to foreign companies, promising favorable conditions despite a wave of anti-monopoly investigations that business groups say might be aimed at limiting competition. Speaking at a business conference, Premier Li Keqiang made no mention of the probes against foreign automakers, drug and technology suppliers and other companies. The U.S. Chamber of Commerce said in a report this week the investigations unfairl
Sept. 11, 2014
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Scotland-registered banks may shift to England under independence
LONDON (AFP) ― Lloyds and Royal Bank of Scotland may move their registered offices from Edinburgh to England if Scots vote for independence next week, Lloyds and a Treasury source said on Wednesday.Currently, the state-backed banks are legally registered in Scotland due to historical ties with the country, but plans are being made to review this in the event of a “Yes” vote.“While the scale of potential change is currently unclear, we have contingency plans in place which include the establishme
Sept. 11, 2014
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Japan e-commerce giant Rakuten to buy cash-back site Ebates for $1b
TOKYO (AP) ― Rakuten Inc. announced Tuesday it plans to buy U.S.-based cash-back site Ebates for $1 billion, part of a series of overseas acquisitions aimed at building what the Japanese e-commerce company says will be the “world’s largest product line-up.”With goods ranging from toys and cat beds to luxury watches and golf clubs, Rakuten is the top Internet retailer in Japan. It has made numerous overseas acquisitions, including Cyprus-based Internet phone application Viber Media and led a $100
Sept. 10, 2014
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Honda unveils self-driving car
DETROIT (AP) ― Honda shared its vision of the hands-free highway commute Tuesday, a car that can safely drive itself on the freeway while the driver’s hands are off the wheel. While the car is just a prototype, Honda says the technology could start appearing on Honda cars in 2020 and beyond. The prototype ― an Acura RLX sedan ― has cameras that monitor lane marking and multiple radar sensors on the front and sides. On top is a beacon that uses laser beams to continually scan the car’s surroundin
Sept. 10, 2014
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Facebook’s value tops $200b on mobile-ad optimism
Facebook Inc.’s market value exceeded $200 billion to put it among the world’s biggest corporations, as investors bet on the company to capitalize on the future of mobile advertising. Facebook shares rose 0.8 percent to $77.89 at Tuesday’s close in New York, valuing the company at $201.6 billion, according to data compiled by Bloomberg. That made it the 22nd-largest company in the world, behind Verizon Communications Inc. and ahead of Toyota Motor Corp. The stock has jumped 9.3 percent since Jul
Sept. 10, 2014
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Microsoft in $2b talks for ‘Minecraft’ maker
SAN FRANCISCO (AFP) ― Microsoft is in talks to buy the Swedish company behind the wildly popular “Minecraft” video game in a deal valued at more than $2 billion, The Wall Street Journal said Tuesday.U.S. technology colossus Microsoft and game maker Mojang AB were not commenting on the report, which was based on an undisclosed source purported to be privy to developments.“Minecraft” has won a tremendous following, with players spending countless hours managing resources, building with virtual blo
Sept. 10, 2014
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Japan Inc. cautious on India despite premiers’ love-in
TOKYO (AFP) ― Even as the friendship between Shinzo Abe and Narendra Modi blossomed during the new Indian leader’s first foreign trip, Japan Inc. refused to get misty-eyed, wary of the pitfalls of doing business on the subcontinent.A five-day tour that began with a bear hug and a day of sightseeing in the ancient Japanese capital of Kyoto worked itself up through a crescendo of mutual compliments that culminated in Tokyo’s pledge to spend $34 billion in India over the next five years.Companies l
Sept. 10, 2014
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Moody’s negative on Brazil in new blow to Rousseff
RIO DE JANEIRO (AFP) ― Ratings agency Moody’s lowered its outlook for Brazil Tuesday, in the latest blow to President Dilma Rousseff’s economic record, just weeks before voters decide if she will be reelected.Moody’s dropped its outlook for the world’s seventh largest economy from stable to negative just over a week after Brazil was declared in recession.Now, as the country prepares to go to the polls on Oct. 5, the U.S.-based agency warned that “sustained low growth and worsening debt metrics”
Sept. 10, 2014
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WB warns of global jobs crisis
SYDNEY (AFP) ― The world is facing a global jobs crisis that is hurting the chances of reigniting economic growth and there is no magic bullet to solve the problem, the World Bank warned on Tuesday.In a study released at a G20 Labor and Employment Ministerial Meeting in Australia, the Bank said an extra 600 million jobs needed to be created worldwide by 2030 just to cope with the expanding population.“There’s little doubt there is a global jobs crisis,” said the World Bank’s senior director for
Sept. 10, 2014
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Fed pressures big banks to shrink
WASHINGTON (AP) ― The Federal Reserve is pushing the biggest U.S. banks to shrink so that they’re less of a risk to the financial system.In testimony at a Senate hearing Tuesday, Fed Gov. Daniel Tarullo highlighted several proposals that regulators are working on. They include imposing additional capital requirements for the eight largest banks ― including JPMorgan Chase, Citigroup and Bank of America ― that exceed the levels mandated by international regulators. That means the banks would have
Sept. 10, 2014
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European Stocks Decline Amid Uncertainty Over Ukraine, Scotland
European stocks dropped for a fourth day, their longest streak of losses in five weeks, as the region’s governments weighed tougher sanctions on Russia and concern grew the U.K. may be heading for partition. U.S. index futures were little changed, while Asian shares fell.Sports Direct International Plc slid 3.3 percent after saying its performance in its first accounting quarter was hurt by England’s early exit from World Cup soccer tournament. Bilfinger SE lost 2.3 percent after announcing job
Sept. 10, 2014
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Due to poor sales, Amazon cuts price of its Fire phone to 99 cents
SAN FRANCISCO (UPI) -- Amazon launched their answer to the smartphone earlier this summer to much fanfare. Touting features other phones don't have, like Firefly that will allow users to photograph barcodes on products instantly placing them on a shopping list. Firefly can even recognize music, movies, artwork on a wall and even TV shows.Fast-forward a few months, and Amazon has slashed the price of it's much lauded phone to .99 cents. That price is with a two-year contract with AT&T, the exclus
Sept. 9, 2014
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World Bank warns of global jobs crisis
SYDNEY (AFP) -- The world is facing a global jobs crisis that is hurting the chances of reigniting economic growth and there is no magic bullet to solve the problem, the World Bank warned on Tuesday.In a study released at a G20 Labour and Employment Ministerial Meeting in Australia, the Bank said an extra 600 million jobs needed to be created worldwide by 2030 just to cope with the expanding population."There's little doubt there is a global jobs crisis," said the World Bank's senior director fo
Sept. 9, 2014
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China's promised reforms moving too slowly: EU businesses
BEIJING (AFP) -- European businesses in China on Tuesday warned the Communist Party urgently to implement promised reforms or risk seeing growth in the world's second-largest economy plummet and incomes stagnate."The 'golden age' for business in China is drawing to a close," the European Union Chamber of Commerce in China said."China is nearing the end of its window of opportunity to create the framework to rebalance the economy," it added in its annual European Business in China Position Paper.
Sept. 9, 2014
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Apple feeds frenzy with selective silence
SAN FRANCISCO (AFP) – It is a marketing strategy that few experts would recommend and even fewer companies can pull off.But the less Apple says about its eagerly anticipated event on Tuesday at a performing arts center in Silicon Valley, the more frenzied the speculation becomes.In keeping with its style, Apple has revealed little about what is expected to be the unveiling of the company's first "big thing" since the death of legendary co-founder and driving force Steve Jobs nearly three years a
Sept. 8, 2014
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Verizon to pay $7.4 million for U.S. privacy violations
WASHINGTON (AFP) ― U.S. telecom giant Verizon has agreed to pay a $7.4 million fine to settle a probe into its privacy practices, including accessing customer data for marketing purposes, officials said Wednesday.The Federal Communications Commission said Verizon failed to notify some 2 million of its landline customers about how their personal data would be accessed and used. Pedestrians walk past a Verizon Wireless store in New York. (Bloomberg)Verizon also agreed to notify customers of their
Sept. 4, 2014
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Chrysler, Nissan lead U.S. auto sales rise
DETROIT (AP) ― The seismic shift in American car-buying toward trucks and crossover SUVs is creating great deals on compact and midsize cars.The shift, which has been going on for more than a year, is hurting car sales so much that automakers are offering bigger discounts to keep moving metal.The change became even more pronounced in August, with companies such as General Motors and Chrysler reporting that truck sales, including crossover SUVS, were up while car sales fell.The increasing SUV and
Sept. 4, 2014