South Korean stocks closed 0.46 percent lower on Monday due to rising uncertainties stemming from the Unites States, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) moved down 9.37 points to 2,009.52. Trading volume was low at 333.3 million shares worth 3.1 trillion won ($2.85 billion) with losers outpacing gainers 477 to 317."Investor sentiment was dented by the economic uncertainties in the U.S., despite rising hopes for th

A Pennsylvania woman was awarded $100 in damages from Walmart over a 2-cent disparity between an item’s tagged price and its scanned price.Murrysville District Judge Charles Conway sided with consumer activist Mary Bach of Murrysville, whose civil suit against Walmart claimed the company intentionally charged 2 cents more for Banquet “Brown ’N Serve” sausage than the price on the tag at the location near Delmont, the Pittsburgh Tribune-Review reported Monday.Conway awarded Bach, whose suit alleg

The value of worldwide shipments of smartphones are expected to dwarf that of PCs for the first time this year amid growing demand for mobile devices, data showed Monday.Global smartphone shipment value is forecast to reach US$239.6 billion this year, surpassing PC shipment value estimated at $218.6 billion, according to the data by market researcher Gartner Inc. and finance industry sources.If the estimated figures are on track, it will mark the first time smartphone shipments topped PC shipmen

South Korean stocks started lower Monday as investor sentiment was dented by rising concerns over the United States' sequestration, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.54 points, or 0.13 percent, to 2,016.35 in the first 15 minutes of trading.Shares lost ground across the board, with top chipmaker SK hynix moving down 1.14 percent and top flat panel manufacturer LG Display falling 0.49 percent. Top steelmaker POSCO lost 1.1 percent.Carmakers also traded l

South Korea’s financial regulator said Sunday it will ease rules for foreign companies wishing to be listed on the local bourse as part of a broader move to boost the stock market.The Financial Services Commission (FSC) will exempt overseas firms from listing evaluation if they meet certain criteria that qualifies them to be considered as blue-chip companies.Under the envisioned measures, candidates that have been listed for more than five years in offshore markets under an exchange agreement wi

Bank hit by tax probe and allegations of squeezing smaller firms

South Korean stocks are expected to trade higher this week on the back of rising hopes for the country’s economy following the upcoming inauguration of President-elect Park Geun-hye, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed up 37.71 points, or 1.9 percent, to 2,018.89 on Friday from the previous week.Earlier last week, the KOSPI moved up as the investor sentiment was heightened by a G20 meeting of finance ministers and central bankers, where officials

KAMCO blamed for buck-passing amid builder’s struggles to overcome crisis

Volkswagen AG, Europe’s largest automaker, forecast that 2013 operating profit will match last year’s level, falling short of analysts’ estimates, as the shrinking auto market in its home region weighs on earnings. Earnings before interest and taxes, which rose 2.1 percent to 11.5 billion euros ($15.2 billion) in 2012, probably won’t increase this year, Wolfsburg, Germany-based Volkswagen said Friday in a statement. The average estimate of 14 analysts surveyed by Bloomberg is for 2013 profit of