The Korea Herald

Oil down over 6 pct after US credit downgrade

World BusinessAug 9, 2011

NEW YORK (AP) -- Oil plunged to its lowest price of the year Monday on concerns about the slowing global economy and future demand for oil and gas.Benchmark West Texas Intermediate crude fell $5.57, or 6.4 percent to settle at $81.31 per barrel on the New York Mercantile Exchange. That is the lowest
Gold price tops $1,700 as investors seek refuge

코리아 헤럴드Aug 9, 2011

NEW YORK (AP) -- The price of gold streaked past $1,700 an ounce for the first time Monday. Anxious investors sought safety in the metal as stocks tumbled around the world after the U.S. lost its AAA credit rating.Gold's allure stems in part from fears that the world's major economies are dangerousl
Britain burns: Riots spread through UK cities

World NewsAug 9, 2011

LONDON (AP) -- A chaotic wave of violence and looting raged across London and spread to three other major British cities on Tuesday, as authorities struggled to contain the country's worst unrest since race riots set the capital ablaze in the 1980s.British police officers stand around as a car, back
Questions and answers about the market's turmoil

World BusinessAug 9, 2011

NEW YORK (AP) -- Global stock markets tumbled Monday on the first trading day since Standard & Poor's downgraded long-term U.S. debt. The plunge came as investors grew anxious over a weakening U.S. economy and a widening debt crisis in Europe.Not everything went as expected. Some analysts had worrie
Woman with PhD in statistics wins lottery four times

Aug 9, 2011

A woman from Texas has reportedly won the lottery four times, prompting interest towards the secret of the unbelievable luck.Joan R. Gither, 63, has won four fortunes worth millions of dollars in the span of 15 years. First she won $5.4 million in 1993, and 10 years later $2 million. Then, another t
11 percent of college students at risk of gambling addiction

Social affairsAug 9, 2011

A Korean study has found that the prevalence of problem gambling in college students is nearly twice as high as that found by an earlier study on the general population.Daegu’s Catholic University conducted a study on 2,026 students nationwide, and found out that 11 percent of them were dependent on
Vietnamese wife booked for attempting to poison mother-in-law

Social affairsAug 9, 2011

GWANGJU, Aug. 9 (Yonhap) -- Police said Tuesday that a Vietnamese woman married to a South Korean man has been booked without detention on charges of attempting to poison her mother-in-law.Last week, the 23-year-old suspect, whose name is withheld, allegedly put poison in food she had prepared for h
U.S. markets fall sharply, Dow down more than 450

World BusinessAug 9, 2011

NEW YORK (AP) -- The U.S. stock market joined a sell-off around the world Monday in the first trading since Standard & Poor's downgraded American debt.The Dow Jones industrial average fell more than 450 points in afternoon trading. Treasury prices rose -- despite S&P's assessment that they wer
Stocks recoup losses on Bernanke hopes

Aug 9, 2011

US stocks open higher after Monday's routLONDON (AP) -- Speculation that the U.S. Federal Reserve may announce another round of monetary easing helped stock markets rebound Tuesday after many entered official bear market territory.Specialist Stephen D'Agostino works at his post on the floor of the N
US markets fall sharply after S&P downgrade

Aug 8, 2011

S&P downgrades Fannie, Freddie, other agencies linked to long-term U.S. debtNEW YORK (AP) — The U.S. stock market joined a sell-off around the world Monday in the first trading since Standard & Poor's downgraded American debt and gave investors another reason to be anxious.Traders work on the
S&P downgrades Fannie and Freddie, US-backed debt

Aug 8, 2011

WASHINGTON (AP) — Standard & Poor's Ratings Services on Monday downgraded the credit ratings of Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt.The agency also lowered the ratings for: farm lenders; long-term U.S. government-backed debt issued by 32 banks and credit
KTX train forced to stop

Social affairsAug 8, 2011

CHEONAN (Yonhap) -- A home-made high-speed train stopped abruptly on its way from Seoul to a southeastern town Monday due to unspecified technical problems, the train's operator said.A locally-built KTX-Sancheon train was forced to pull over near Cheonan-Asan Station, 92 kilometers south of Seoul, a
New Zealander sucked into plane engine and killed

Aug 8, 2011

WELLINGTON, New Zealand (AP) — A 51-year-old engineer working at an airplane testing facility has been sucked into an engine and killed.Domestic carrier Air New Zealand confirmed the man was performing routine maintenance on a Lockheed C-130 Hercules airplane engine just after 8 a.m. Monday at
Major firms withdrawing from MRO business

IndustryAug 8, 2011

Amid rising criticism over an oligopoly in the market, Korea’s large businesses are to keep their hands off affiliates in charge of sourcing spare parts, stationery and repair services for office equipment. SK Group became the latest conglomerate on Sunday to step back from its lucrative procurement
Lee vows to revamp disaster prevention, raise safety bars

PoliticsAug 8, 2011

President Lee Myung-bak on Monday vowed to revamp the national disaster prevention system and tighten safety standards, noting that last month’s deadly downpours could be repeated next year due to climate change.“The government’s priorities include comprehensive reexamination of existing disaster-pr