The Korea Herald

IMF chief wants ‘more firepower’ to fight crisis

World BusinessApr 4, 2012

WASHINGTON (AP) ― The managing director of the International Monetary Fund made an impassioned plea Tuesday for American leadership in the global economy as she called for the international community to give her organization “more firepower” to bolster tottering economies.Christine Lagarde told the annual meeting of the Associated Press that last week’s move by eurozone countries to boost their own rescue fund has strengthened her case to ask other large economies to expand the IMF’s financial w
Southeast Asian leaders: Lift Myanmar sanctions

World NewsApr 4, 2012

PHNOM PENH (AP) -- Southeast Asian leaders called Wednesday for Western countries, including the European Union, to lift punitive sanctions imposed on Myanmar now that the once-pariah nation has embraced democratic reforms.The leaders of the 10-member Association of Southeast Asian Nations made the call after concluding an annual summit in the Cambodian capital. Myanmar was represented at the gathering by President Thein Sein, who received a flurry of praise for the recent reforms in his poor So
India inducts new Russian-made nuclear submarine

World NewsApr 4, 2012

NEW DELHI (AFP) -- India is to return to the elite group of countries with a nuclear-powered submarine on Wednesday when it inducts a new vessel leased from Russia.Indian Defense Minister A.K. Antony is to formally commission the INS Chakra II at its base in Visakhapatnam, a navy shipyard on the country’s south east coast in the state of Andhra Pradesh.The 8,140-ton submarine, capable of firing a range of torpedoes as well as nuclear-tipped Granat cruise missiles, was offered by Moscow to India
Mali coup leader stays put, despite sanctions

World NewsApr 4, 2012

BAMAKO, Mali (AP) ― The day after an embargo was placed on Mali, the soldier who led a recent coup said Tuesday that he agrees with restoring constitutional order, but first Mali’s ills need to be addressed by holding a national convention which will decide on the best way forward.With Capt. Amadou Haya Sanogo refusing to step down, surrounding nations have imposed severe financial sanctions on Mali, including the closing of the country’s borders and the freezing of its account at the regional c
Violent storm leaves four dead in Japan

World NewsApr 4, 2012

TOKYO (AFP) -- A huge storm killed at least four people in Japan, police said Wednesday, as violent wind and rain battered the nation and disrupted transport for a second day.The storm has moved east and is now covering all of the north of Japan’s main island of Honshu and much of the northernmost island of Hokkaido, buffeting the region with strong winds caused by what meteorologists say is a severe low-pressure system.On Sado island, on Honshu’s northwest, gusts of up to 156 kilometers per hou
Romney makes clean sweep of three primaries

World NewsApr 4, 2012

Front-runner urges Republicans to now focus on fight against President ObamaMILWAUKEE (AP) ― Mitt Romney tightened his grip on the Republican presidential nomination Tuesday night, sweeping three primaries in Wisconsin, Maryland and Washington, D.C., and urged his party to shift focus to the general election showdown with President Barack Obama. The victories enabled Romney to pad his already considerable delegate lead over chief Republican rival Rick Santorum, who flashed defiance in the face o
Wife, daughter guilty of killing bookie

World NewsApr 4, 2012

A missing English bookmaker's wife was convicted Tuesday of killing him more than a decade ago with help from the couple's daughter.Shirley Banfield, 64, and Lynette Banfield, 40, were both sentenced to life in prison, The Guardian reported. Shirley Banfield must serve at least 18 years and her daughter 16.Don Banfield, 64, vanished in 2001. He had just signed a contract for the sale of his house
Fed signals no need for more monetary easing

World BusinessApr 4, 2012

The Federal Reserve is holding off on increasing monetary accommodation unless the U.S. economic expansion falters or prices rise at a rate slower than its 2 percent target. “A couple of members indicated that the initiation of additional stimulus could become necessary if the economy lost momentum or if inflation seemed likely to remain below” 2 percent, according to minutes of their March 13 meeting released Tuesday in Washington. That contrasts with the assessment at the FOMC’s January meetin
Philippines urges united ASEAN stand on South China Sea

World NewsApr 4, 2012

ASEAN should forge a common position on a proposed code of conduct aimed at easing tensions in the South China Sea before talking with China, Philippine President Benigno Aquino said Tuesday.Aquino told fellow leaders of the Association of Southeast Asian Nations that the fundamentals of the proposed code should be “internal” to the regional bloc’s members, according to a statement from the Philippine foreign ministry.“It is important that we maintain ASEAN centrality,” Aquino said at the annual
James Murdoch steps down as BSkyB chief

World NewsApr 4, 2012

LONDON (AP) ― Once his father’s heir apparent, James Murdoch has stepped down as chairman of British Sky Broadcasting, surrendering one of the biggest jobs in the Murdoch media empire in a bid to distance the broadcaster from a deepening phone hacking scandal.James Murdoch’s credibility and competence have come under severe questioning because of the phone hacking crisis and alleged bribery by British newspapers while he was in charge, and he faces further questioning in the scandal.“I am aware
Powerful tornadoes strike Texas

World NewsApr 4, 2012

WASHINGTON (AFP) ― At least two tornadoes ripped across northern Texas on Tuesday, flipping huge trucks like toys, tearing off roofs and grounding flights but apparently causing only minor casualties.One twister touched down in a parking lot full of tractor-trailers ― large trucks that move shipping-container sized cargos ― and television images showed several large vehicles twisting and flying dozens of feet up into the air.“It was raining and hailing like I said ... and then all of a sudden, t
U.S. gunman shot victims execution-style: police

World NewsApr 4, 2012

OAKLAND, California (AFP) ― A Korean-American former student accused of killing seven people at a private Christian college in California lined up his victims and shot them execution-style, police said Tuesday.The 43-year-old planned the killings after being expelled from the college near San Francisco, was “upset” at staff and other students and had displayed “no remorse,” a senior officer said.Police were holding the suspect in the fatal shootings that took place Monday at Oikos University in
Typhoon-strength storm kills two in Japan, brings chaos

World NewsApr 4, 2012

A typhoon-strength storm brought travel chaos to Japan on Tuesday, as violent winds and rain killed at least two people and left tens of thousands of people stranded.Gusts of up to 150 kilometres (93 miles) per hour have been recorded in western Japan, with coastal areas likely seeing even stronger winds, Japan's weather agency said.At least 163 people suffered injuries across the country, knocked
U.S auto sales seen highest since 2007

World BusinessApr 4, 2012

Carmakers post best sales in almost 5 years on small-car demand, higher confidenceDETROIT (AP) ― The recovery in the American auto industry has moved into the fast lane. With gas prices at nearly $4, smaller cars like the Ford Focus, Nissan Versa and Fiat 500 flew off dealer lots in March and gave U.S. car makers their best monthly sales in almost five years. Larger vehicles sold well, too, offering more evidence of growing confidence in the economic recovery. Small businesses, farmers and other
Romney wins Wisconsin in primary hat-trick: media

World NewsApr 4, 2012

Republican Mitt Romney notched a huge presidential primary triple win Tuesday, strengthening an already compelling case that he is the presumptive nominee in the battle for the White House. U.S. Republican presidential candidate Mitt Romney. (AFP-Yonhap News)Romney thumped his main rival Rick Santorum in Maryland and the US capital Washington, and was expected to win a tighter but more important r