The Korea Herald

France’s ‘AAA’ credit affirmed by S&P, Moody’s

IndustryAug 11, 2011

France’s top credit grade was affirmed by Standard & Poor’s, Moody’s Investors Service and Fitch Ratings as relative yields on the nation’s debt climb on concern that Europe’s sovereign debt crisis is intensifying. The outlook on France is stable and its “AAA” ranking is “warranted,” Moritz Kraemer,
Asia in balancing act as prices rise, growth weakens

IndustryAug 11, 2011

SINGAPORE (AP) ― Asia batted away the global recession sparked by the 2008 financial crisis. Fending off the latest wave of market turmoil may prove tougher.World stocks were pummeled this week by the first-ever downgrade of the U.S. credit rating and evidence of stalling recoveries in the U.S. and
U.S. budget deficit tops $1tr

IndustryAug 11, 2011

WASHINGTON (AP) ― The United States’ budget deficit has topped $1 trillion for a third straight year, adding pressure on Congress and the White House to make more progress on a long-term plan to shrink the growing imbalance.The Treasury Department said Wednesday that the deficit through July totaled
Korean Airport Corp. reappoints chief

IndustryAug 11, 2011

Sung Si-chul, chief executive and president of Korean Airport Corp., has been reappointed, the state-run airport operator said Thursday.The decision reflects Sung’s achievement in transforming Gimpo International Airport into East Asia’s business hub over the three years, the company said in a state
Ahn favored most as boss

IndustryAug 11, 2011

IT guru Ahn Cheol-soo was picked as the boss that salaried workers most want to work under, a survey released Thursday found. Ahn, who founded the computer vaccine developer AhnLab in 1995, one of Korea’s first-generation IT startups, got 46.9 percent of the vote in a survey of 796 salaried workers
Seoul concerned by fresh capital inflow from U.S.

Aug 11, 2011

The government said it is worried about cheap credit in the U.S. destabilizing the local economy as large funds into the region could worsen inflationary pressure. “The U.S. Federal Reserve’s pledge to maintain zero interest rate policy in the medium term could destabilize other economies even if th
Asian stocks lower after Wall Street tumbles

Aug 11, 2011

BANGKOK (AP) -- Asian stock markets followed Wall Street lower Thursday as concerns mounted over the worsening debt crisis in Europe and a slackening global economy.Oil prices hovered below $83 a barrel, while the dollar slipped against the yen and the euro. Markets continued to wobble am
U.S. stock futures advance after profit reports beat estimates

Aug 11, 2011

U.S. equity-index futures gained, signaling stocks may rebound from near the lowest levels in about a year, after companies from Cisco Systems Inc. to News Corp. reported better-than-estimated earnings.Cisco, the world’s largest maker of networking equipment, exceeded analyst’s profit estimates afte
More than half of workers had financial problem with colleagues

IndustryAug 11, 2011

(MCT)More than half of Korean workers were not paid back money they lent to colleagues, a poll showed on Thursday.According to Recruit, a local online job search engine, about 87.2 percent of the 532 respondents said that they had lent money to colleagues.But about 57.2 percent replied that they had
S. Korea ranks 7th among OECD nations in environmental R&D spending

IndustryAug 11, 2011

The rate of environmental research in South Korea's total government budget for research and development activities was 3.31 percent in 2009, the seventh highest among the Organization for Economic Cooperation and Development (OECD) countries, an OECD report showed Thursday.The ratio was also higher
BOK freezes key rate despite inflation risks

Aug 11, 2011

Central bank projects headwinds from debt woes in U.S. and Europe South Korea’s central bank on Thursday kept the key interest rate steady at 3.25 percent for the second month in a row, as global financial market turmoil sparked by the U.S. credit rating downgrade and Europe’s debt woes outweig
iPads trump oil: Apple is most valuable US company

IndustryAug 11, 2011

NEW YORK (AP) -- It doesn't take a visit to the Genius Bar to figure out how Apple became the most valuable company in America.Its lineup of sleek phones, computers and iPods, irresistible to customers even in tough economic times, propelled it to the No. 1 position by market value Wednesday, surpas
Stocks tank on European bank, US economy fears

Aug 11, 2011

Trader Peter Tuchman works on the floor of the New York Stock Exchange Wednesday. (AP-Yonhap News)LONDON (AP) -- Concerns over the financial health of Europe's banks and the state of the U.S. economy sent stocks sharply lower Wednesday, a day after the Federal Reserve's pledge to keep extremely low
Stocks in U.S., Europe slide as Treasuries rally

Aug 10, 2011

U.S. stocks tumbled, erasing more than half of yesterday’s rally, while European shares slid and Treasuries rose for a third day amid concern the economic recovery is faltering and the debt crisis is spreading to France. The euro weakened against 11 of 16 major peers, dropping 1.1 percent to $1.4220
Market rebounds on U.S. Fed pledge

Aug 10, 2011

Lee urges close cooperation with foreign governmentsSeoul stocks rebounded in wobbly steps and advanced a tiny 0.27 percent to close at 1,806.24 Wednesday, tracking overnight recoveries in the U.S. and Europe on the Federal Reserve’s pledge to keep money flow cheap for the next two years.The benchma