BEIJING (AP) ― China reported an unexpectedly large April trade surplus, likely fueling U.S. pressure over currency controls and market access as American and Chinese officials hold high-level talks in Washington.China’s global trade surplus widened to $11.4 billion as import growth fell amid government efforts to cool an overheated economy and exports rose by nearly 30 percent, data showed Tuesda

EU officials say Greece may need more help with debt as S&P downgrades Greek bondsLONDON (AP) ― Two major credit agencies signaled their concern about Greece’s massive debt on Monday, lending new credence to the view that European authorities must do more to help the country a year after it barely avoided bankruptcy with a bailout.Experts from the European Union and the International Monetary Fund

A top government financial regulator on Monday expressed his concern about public criticism of the financial supervisory authorities following a series of scandals.Speaking at a meeting with reporters, Financial Services Commission Chairman Kim Seok-dong admitted his responsibility for the bribery scandals at the Financial Supervisory Service, an executive arm of the FSC.“I, as the chief regulator

South Korea and Japan held director-general level talks on a bilateral free trade agreement in Seoul on Monday.Monday’s meeting was the second to be held by director-general level officials from the two countries since the first round of talks held on Sept. 16 in Tokyo.At the latest talks, officials from the two countries discussed non-tariff barriers and other trade-related issues, and plans for

Company aims to earn W2tr from green chemicals businessSK Chemicals will aim to make 3 trillion won ($2.8 billion) in sales in 2015, chief executive Kim Chang-geun recently told his company, SK Chemicals said Monday.SK Chemicals is a pharmaceuticals and chemicals maker affiliated to the country’s third largest conglomerate, SK Group. The company currently holds the largest share of Korea’s market

Data shows practice leads to collusion between lenders and watchdogOne in three savings banks suspended in the last decade had hired former officials from the financial watchdog or the central bank as auditors, a report said.Analysts said the data demonstrates long-held collusive ties that public agencies have had with the lenders they supervise.The findings by the Korea Federation of Savings Bank

Louis Vuitton, the French maker of laminated canvas handbags, is the world’s most valuable luxury brand for the sixth consecutive year, a research group said. The brand, owned by Paris-based LVMH Moet Hennessy Louis Vuitton SA, has a value of $24.3 billion, an increase of 23 percent from 2010, according to Millward Brown Optimor’s 2011 BrandZ study published Monday. That’s almost as much as the co