FSC suspends 4 more second-tier banks 2 days after promising no new suspensions in H1Financial regulators’ ongoing crackdown on savings banks is increasing the chances of a bank run under which a great number of customers withdraw their deposits.The Financial Services Commission suspended operations of four more saving banks over the weekend, raising the possibility of a massive exit by depositors

In this photo released by Japanese robot maker Vstone Co., robots wait for the start to demonstration a race during a press conference Wednesday, Feb. 16, 2011. (AP Photo/Vstone Co.)TOKYO (AP) – A technology company is organizing the world's first marathon for robots in Japan, a country known for its love of gizmos.So far, five robots have entered the event, expected to last four days next week. O

DETROIT (AP) ― Ford Motor Co. is teaming up with Russian automaker Sollers to make and distribute cars in Russia, one of the fastest growing auto markets.Under a deal announced Friday, Sollers will build Fords at Russian plants, helping boost a struggling local industry. Ford will have access to a huge market that could bolster its revenues.Financial details weren’t disclosed, but the automakers s

Bayerische Motoren Werke AG’s Rolls- Royce Motor Cars unit said it’s developing a single vehicle from its Phantom model series that’s fully powered by electricity.The car will debut at the Geneva Motor Show on March 1 and will tour this year as the company collects data that “will be crucial in informing future decisions on alternative drive- trains for Rolls-Royce Motor cars,” BMW said in an e-ma

U.S. lawmakers vote to cut $61 billion in government spendingWASHINGTON (AFP) ― Historic spending cuts approved Saturday by the U.S. House of Representatives face a grim future in the Senate, raising the prospects of a government shutdown and ramping up the public relations blame game.After a marathon floor debate running well past midnight, the Republican-controlled House voted to cut about $61 b

Troubled company’s CEO scans production lines at home and abroadLG Electronics’ top man Koo Bon-joon’s air mileage must be piling up at record speed with all the overseas trips he has logged since taking over the distressed electronics maker last September.Koo, 50, has been particularly travel-happy over the past few months, according to those close to the company, embarking on frequent trips to e

Honda Korea is offering a larger discount and longer installment period for the compact car Civic until the end of the month. Until the end of the month, those purchasing the Civic ― either the 1.8 and 2.0 ― can choose between a 4 million won ($3,600) discount, and two special rate financing programs. Honda CivicThe financing schemes are a 36-month zero interest installment program and a low inter

The new Range Rover TDV8 Vogue was launched on the local market on Feb. 14.The vehicle is fitted with a LR-TDV8 4.4-liter engine that puts out 313 brake horsepower and 8-speed automatic transmission. Range Rover TDV8 VogueThe vehicle manages 9.6 kilometers per liter, which according to the company is 18.5 percent more efficient than the previous engine. The new engine also emits 14 percent less gr

Kia Motors Corp.’s Forte Eco Plus, the country’s first vehicle fitted with an idle stop-and-go-system for automatic transmission, will go on sale today.The idle stop-and-go-system automatically shuts down the engine when the vehicle comes to a halt and restarts the engine when the car is back on the move to reduce fuel consumption and greenhouse gas emissions. Forte Eco Plus. (Kia Motors Corp)Acco