Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Korea enters full election mode
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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Immigrant woman stabbed to death by Korean husband
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Herald Interview] Son Suk-ku chooses to be swayed by others in navigating life
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Seoul’s bus union prepares for strike
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Historic meet raises hopes
SINGAPORE (AP) ― Many thought it might never happen: The presidents of China and Taiwan― inheritors to the Communist and Nationalist regimes that fought a civil war and remained bitter rivals for decades ― coming together as equals for talks. While it isn’t yet clear what the impact will be, or whether and when it will happen again, on a rainy Saturday in Singapore, the possibility of a fundamental shift in relations between the feuding neighbors suddenly seemed possible. China’s Xi Jinping and
Nov. 8, 2015
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Release of Pacific trade text opens fight over ratification
The long-secret text of the Trans-Pacific Partnership free-trade deal was released Thursday to support from business but vows by labor, environmental and health groups in many countries to fight ratification.The massive document, posted online by several governments, offered the first detailed look at the world's biggest free trade area, which aims to break down barriers to commerce and investment between 12 countries comprising about 40 percent of the global economy.US President Barack Obama, w
Nov. 6, 2015
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[Newsmaker] iPhone sales propel rise in Apple’s profits
Apple said Tuesday that surging iPhone sales helped propel a sharp rise in quarterly profits, as the tech giant delivered a record 48 million of the smartphones.Profits rose 31 percent to $11.1 billion, while revenues jumped 22 percent from a year ago to $51.5 billion, Apple said.Customers look at products during the sales launch of the iPhone 6s and iPhone 6s Plus at the IAPM shopping mall in Shanghai, China. BloombergThe California tech giant, which in September unveiled revamped versions of t
Oct. 28, 2015
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GM recalling 1.4M cars; oil leaks can cause engine fires
For the third time in eight years, General Motors is recalling cars that can leak oil and catch fire, sometimes damaging garages and houses.The recall, which covers 1.4 million vehicles dating to the 1997 model year, is needed because repairs from the first two didn't work. More than 1,300 cars caught fire after they were fixed by dealers, the company said.In the previous recalls in 2008 and 2009, GM told owners to park the cars outside until repairs can be made since most of the fires happened
Oct. 27, 2015
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China takes one-third stake in U.K. nuclear project
China vowed Wednesday to finance one third of Britain's first nuclear power plant in decades in a project led by French energy giant EDF confirmed on the second day of President Xi Jinping's state visit.The blockbuster deal, signed in the presence of Xi and British Prime Minister David Cameron, was announced by EDF in an official statement as London rolls out the red carpet to Chinese investors.The agreement for the 18-billion pound ($28-billion, 24.5-billion-euro) project, which is scheduled fo
Oct. 21, 2015
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Greece adopts more painful reforms demanded by creditors
ATHENS (AFP) -- Greece's parliament on Friday narrowly adopted further reforms demanded by the country's international creditors in return for further bailout funds.A majority of 154 lawmakers, out of a total of 300 deputies in the single-chamber parliament, backed the sweeping bill, which provides for further tax hikes and pension cuts.The entire opposition, from the far left communists to the neo-Nazi Golden Dawn party voted against the legislation as a whole, even though some of their members
Oct. 17, 2015
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Jury hits Apple with $234 m tab in chip patent case
SAN FRANCISCO (AFP) -- A U.S. jury on Friday declared that Apple owes $234 million in damages for infringing on mobile chip technology patented by University of Wisconsin researchers."This is a case where the hard work of our university researchers and the integrity of patenting and licensing discoveries has prevailed," said Carl Gulbrandsen, managing director of the nonprofit Wisconsin Alumni Research Foundation which brought the suit."The jury recognized the seminal computer processing work th
Oct. 17, 2015
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GE beats 3Q forecasts as it refocuses on industry
Industrial conglomerate General Electric Co. on Friday reported a decline in third-quarter profit, but strong performances from its core units helped the company top Wall Street expectations.Jeff Immelt, chairman and CEO of General Electric. GE General Electric has been making a push to focus on industrial businesses _ making large, complicated equipment for other companies _ and shrinking its other businesses that focus on finance. The largest change involves selling most of GE Capital's
Oct. 16, 2015
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[Newsmaker] Twitter founder given a second chance as CEO
Twitter is embracing Jack Dorsey as its CEO in hopes that its once-spurned cofounder can hatch a plan to expand the short messaging service’s audience and end nearly a decade of financial losses.The hiring revealed Monday in a regulatory filing ends Twitter’s three-month search for a new leader. It marks Dorsey’s second stint as CEO since he helped start the San Francisco company more than nine years ago with Evan Williams, Biz Stone and Noah Glass.Jack Dorsey, chairman of Twitter Inc. (Bloomber
Oct. 6, 2015
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China says it has 'open attitude' toward U.S.-led Pacific trade deal
China said Tuesday it has an "open attitude" toward a U.S.-led free trade deal agreed upon by 12 Pacific-rim nations, reiterating its stance that Beijing would be open to joining the deal. China's commerce ministry made the remarks shortly after the U.S. and 11 other nations reached an agreement on the Trans-Pacific Partnership deal that covers about 40 percent of the global economy.The deal is the centerpiece of U.S. President Barack Obama's economic diplomacy in the Asia-Pacific region, while
Oct. 6, 2015
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Obama hails TPP for opening new markets for American products
U.S. President Barack Obama hailed a landmark deal to tear down barriers to trade among 12 Pacific Rim nations, saying the free trade agreement will open new markets for American products around the world.After marathon negotiations, trade ministers of the U.S. and 11 other nations reached the Trans Pacific Partnership deal earlier in the day to create the world's largest trading bloc, which accounts for about 40 percent of global gross domestic product.Along with the historic agreement on curbi
Oct. 6, 2015
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Pacific-Rim nations led by U.S. agree to historic trade accord
A dozen Pacific-rim nations agreed to an historic trade pact that would cut trade barriers on items ranging from cars to rice, setting up a potentially contentious ratification vote before a skeptical U.S. Congress.After a week of final talks in Atlanta, an agreement has been reached on completion of the Trans-Pacific Partnership, a pact more than five years in the making designed to boost commerce among nations that produce 40 percent of global economic output, said Akira Amari, a Japanese econ
Oct. 5, 2015
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Shell says it will cease Alaska offshore Arctic drilling
Royal Dutch Shell will cease exploration in Arctic waters off Alaska‘s coast following disappointing results from an exploratory well backed by billions in investment and years of work. The announcement was a huge blow to Shell, which was counting on offshore drilling in Alaska to help it drive future revenue. Environmentalists, however, had tried repeatedly to block the project and welcomed the news. Shell has spent upward of $7 billion on Arctic offshore exploration, including $2.1 billion
Sept. 28, 2015
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Oil prices ease in Asia
Oil prices fell in Asia Monday as investors looked for further clues about the health of the Chinese and U.S. economies, the world‘s top crude consumers. U.S. benchmark West Texas Intermediate for November delivery eased 48 cents to $45.22 and Brent crude for November dipped 47 cents to $48.13.(123rf) Markets were rocked last week by news that a key gauge of manufacturing activity in China fell to a six-and-a-half-year low in September, the latest sign of slowdown in growth for the world’s secon
Sept. 28, 2015
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[Newsmaker] New VW boss tries to save carmaker
Volkswagen's new boss began trying to pull the embattled carmaker out of the wreckage of a pollution test rigging scandal Saturday, as the United States and Switzerland halted the sale of the group's new diesel cars. The 62-year-old former Porsche chief Matthias Mueller was tapped Friday to replace Martin Winterkorn, who resigned over stunning revelations by US environmental authorities that the German carmaker had fitted some of its diesel cars with software capable of cheating environmental
Sept. 27, 2015
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[Newsmaker] Volkswagen just latest scalp for independent campaigners
Volkswagen’s worldwide pollution cheating has been exposed in large part thanks to independent campaigners, a growing force in the scrutiny of multinationals whose activities can escape the gaze of official regulators.The revelations shaking Volkswagen, the world’s biggest automobile manufacturer by sales with a workforce of 590,000 people, can be traced to the work of the U.S.-based group International Council on Clean Transportation, which has a worldwide staff of 27.A red 2016 Volkswagen AG G
Sept. 24, 2015
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We 'screwed up': Volkswagen US chief
NEW YORK (AFP) - The chief executive of Volkswagen America, Michael Horn, used unusually candid language to apologize and admit wrongdoing after the German car giant was caught cheating in US pollution measuring tests."Our company was dishonest, with the EPA and the California Air Resources board, and with all of you and – in my German words – we have totally screwed up," Horn said at an event in New York late Monday, according to video posted by CNBC.Horn pledged to "make things right with the
Sept. 22, 2015
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[Newsmaker] Volkswagen slams into false emissions scam
German auto giant Volkswagen’s shares plummeted nearly 20 percent Monday as investigations spread into revelations that hundreds of thousands of its diesel cars have software that secretly thwarts U.S. pollution tests.Volkswagen, the world’s largest automaker by sales in the first half of this year, said it had halted all diesel vehicle sales in the United States during a probe into the scandal, which could lead to fines of more than $18 billion.In addition to the environmental fines, U.S. autho
Sept. 22, 2015
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Federal Reserve holds rate at zero; cites China worries
The Federal Reserve held its key interest rate locked at zero Thursday, citing worries about how the slowdown in China will hit the US economy. Fed Chair Janet Yellen said the economy continues to grow moderately and that a rate increase could still take place before the end of the year. However, policy makers were still focused on the spillover from China's troubles and those in other major emerging market economies. "A lot of our focus has been on risks around China, but not just China,
Sept. 18, 2015
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Global stock markets waver as Fed decision nears
Europe was off to a tepid start with Britain's FTSE 100 down 0.4 percent to 6,205.60. France's CAC 40 dipped 0.2 percent to 4,631.50. Germany's DAX was nearly unchanged at 10,222.81. Futures showed that Wall Street was set to lose ground. Dow futures fell 0.2 percent. S&P 500 futures dropped 0.3 percent. HIKE OR NO HIKE: Two months ago, it seemed almost certain that the Fed was going to raise rates in September. Now, after the turmoil in financial markets and concerns about China's economy, t
Sept. 17, 2015