The Korea Herald

American Airlines faces turbulent ride

World BusinessOct 5, 2011

NEW YORK (AP) ― American Airlines’ CEO is proud that his company, unlike its biggest rivals, avoided the bankruptcy process to remake itself. Investors aren’t so sure.As the economic outlook darkens, the airline industry is bracing for trouble. Among the biggest U.S. carriers, American has the most
Ford to pay workers $6,000 bonus in new contract

World BusinessOct 5, 2011

DETROIT (AP) ― The union that once set the gold standard for American wages is giving up pay raises in exchange for a piece of the auto industry’s profits and the promise of thousands of new jobs.Under agreements struck with Ford and General Motors, most of the companies’ factory workers will get pr
Truck bomb kills 70 in Somali capital

World NewsOct 5, 2011

MOGADISHU (AP) ― Al-Qaida-linked militants launched their deadliest single bombing in Somalia, killing 70 people and demonstrating how the group that blocked aid to famine victims can still mount devastating violence even after most of its fighters fled the capital in August.A truck loaded with drum
Bernanke warns economic recovery close to faltering

World NewsOct 5, 2011

WASHINGTON (AP) ― Europe has a debt crisis. America has a jobs crisis. Corporate profits could be in trouble. World financial markets are in turmoil. And no one seems prepared to ride to the rescue.Federal Reserve Chairman Ben Bernanke bluntly warned Congress on Tuesday of what most of America has s
Sprint gets iPhone, evens odds against AT&T, Verizon

World BusinessOct 5, 2011

Sprint Nextel Corp., the third- largest U.S. wireless operator, struck a deal to offer Apple Inc.’s latest iPhone, joining rivals AT&T Inc. and Verizon Wireless in selling the device. Sprint will begin selling the iPhone 4S on Oct. 14 along with its competitors. The iPhone 4S uses two antennas to im
Japan pushes forward with whale hunts

World NewsOct 5, 2011

TOKYO (AP) ― Japan will go ahead with its whaling program in the Antarctic later this year under heightened security to fend off activists who have vowed to disrupt the annual hunt, the country’s fisheries minister said.Japan’s whale hunts have become increasingly tense in recent years because of cl
S&P affirms Portugal credit rating

World NewsOct 5, 2011

PARIS (AFP) ― Standard and Poor’s said Tuesday it affirmed the credit ratings on bailed-out Portugal, with the outlook remaining negative, meaning the level could be lowered in the future.S&P, one of the top three ratings agencies, said Portugal was “strongly committed” to its EU-IMF debt rescue pro
Moody’s sees more European downgrades

World NewsOct 5, 2011

European countries with debt ratings below the top “AAA” level may see reductions in their rankings, Moody’s Investors Service said. “All but the strongest euro-area sovereigns are likely to face sustained negative pressure on their ratings,” Moody’s said in a statement. “Consequently, Moody’s expec
India to launch $45 tablet computer

World BusinessOct 5, 2011

NEW DELHI (AFP) ― India is set Wednesday to launch its long-awaited low-cost computer, a $45 tablet device designed to bring the information technology revolution to tens of millions of students.The touchscreen computer has a 18-centimeter screen, Wi-Fi Internet access, a media player and 180 minute
Faces and stories of a 10-year war

World NewsOct 5, 2011

KUNDUZ, Afghanistan (AP) -- The United States led the war in Afghanistan, but the stakes -- and the losses -- are high for all.At least 1,782 American soldiers have died over the past decade. NATO has lost 954 soldiers, with Germany supplying the biggest contingent after the U.S. and Britain.The Afg
Italy government bonds downgraded by Moody's

World BusinessOct 5, 2011

Moody's Investors Service Monday downgraded Italy's government bond ratings to ``A2'' with a negative outlook from ``Aa2,'' the result of high debt, a weak global economy and political uncertainties that delay corrective action.While the change moves the rating down three notches, it is still invest
Obama sends free trade deals to Congress

World BusinessOct 4, 2011

WASHINGTON (AFP) ― U.S. President Barack Obama on Monday sent long-stalled free trade deals with Colombia, Panama and South Korea to Congress and pressed lawmakers to approve them “without delay” after years of hold-ups.The pacts, signed under former President George W. Bush, are expected to boost U
Eurozone fights Greek default fears

World BusinessOct 4, 2011

LUXEMBOURG (AP) ― The eurozone’s financial chiefs were under pressure to find new ways to relieve Greece’s debt crisis on Monday, after Athens acknowledged that its deficit will be higher than it had promised in return for a massive bailout.Greece’s revelation calls into question whether Athens will
Amanda Knox cleared of killing roommate

World NewsOct 4, 2011

Amanda Knox may return to the U.S. as soon as today after an Italian appeals court acquitted the 24-year-old American of the 2007 murder of her British housemate Meredith Kercher. Judge Claudio Pratillo Hellman ruled that the Seattle native be freed immediately after a jury in Perugia, Italy found K
U.S. auto sales up in September on big trucks

World BusinessOct 4, 2011

DETROIT (AP) ― U.S. buyers shrugged off economic worries and snapped up SUVs and pickups last month, surprising the auto industry and raising hopes that a bumpy year will end on a high note.Big trucks typically sell when the housing market and construction industry are strong, gas prices are low and