The Korea Herald

Fears over US economy cause world market rout

World BusinessSept 2, 2011

LONDON (AP) -- Worries that the U.S. economy is stalling and may be heading back into recession caused a severe slump in stock markets around the world on Friday.With European indexes already shaken by concerns that Greece may miss its required deficit reduction targets, worse-than-expected U.S. job
US creates no jobs in August

World BusinessSept 2, 2011

WASHINGTON (AP) -- U.S. employers stopped adding jobs in August, an alarming setback for an economy that has struggled to grow and might be at risk of another recession.The government also reported that the unemployment rate remained at 9.1 percent. It was the weakest jobs report since September 201
Japan’s P.M. picks allies for key cabinet spots

World NewsSept 2, 2011

TOKYO (AP) ― Japan’s new Prime Minister Yoshihiko Noda picked close allies Friday for key positions in his cabinet as he tries to steer his troubled nation through disaster recovery, a nuclear crisis and a lengthy economic slump.Cabinet Secretary Osamu Fujimura announced the picks, including Koichir
El-Erian sees ECB cutting interest rates

World BusinessSept 2, 2011

The European Central Bank will probably cut interest rates as the chance of a recession in the euro zone has risen to 50 percent, Mohamed El-Erian, chief executive officer of Pacific Investment Management Co., said in an interview. “I would expect the ECB to change course,” he said. “They’re going t
U.S. carmakers report strong Aug. sales

World BusinessSept 2, 2011

Fears that car buyers would stay away from dealerships in August never materialized.Instead, Americans were lured by new models, cheaper financing and the need to replace aging cars. As a result, August sales rose 7.5 percent compared with the same month last year, according to Autodata Corp.Most ma
Chilean students stage kiss-in for reforms

World NewsSept 2, 2011

SANTIAGO, Chile (AP) _ More than 100 students have held a kiss-in in a central plaza of the Chilean capital as part of a peaceful protest demanding education reforms.Chilean couples kiss during a demonstration demanding structural changes in the educational sector in downtown Santiago, Chile, Thursd
Sarkozy warns G20 of need for growth above austerity

World BusinessSept 1, 2011

PARIS (AFP) ― The Group of 20 developed and developing economies must ensure growth first and avoid the risk of a fresh global recession even if budgets are tight, French President Nicolas Sarkozy said Wednesday.Sarkozy, current head of the G20, said France wanted to see its Cannes summit in Novembe
Wen: China to focus on taming inflation

World BusinessSept 1, 2011

China’s top priority is stabilizing prices and the government doesn’t plan to alter the direction of economic policies, Premier Wen Jiabao said. The slowdown in the economy is “reasonable” and within government expectations, Wen wrote in an article in the ruling Communist Party’s Qiushi magazine. An
Iran leader: West cannot ‘confiscate’ Arab Spring

World NewsSept 1, 2011

TEHRAN (AP) ― Iran’s top leader warned the Arab world Wednesday not to allow Western powers and Israel to “confiscate” the region’s pro-reform uprisings, in comments that appear to reflect the Islamic republic’s unease about their standing in a profoundly altered Middle East.Iran has tried to walk t
10th anniversary of 9/11 nears, U.S. ups security

World NewsSept 1, 2011

The south tower of the World Trade Center collapses during the September 11 terrorist attack in 2001. (AP-Yonhap News)WASHINGTON (AP) ― As the United States prepares for the 10-year anniversary of the 9/11 attacks, a date al-Qaida has cited as a potential opportunity to strike again, security is int
Court case reveals details of secret flights

World NewsSept 1, 2011

WASHINGTON (AP) — The secret airlift of terrorism suspects and American intelligence officials to CIA-operated overseas prisons via luxury jets was mounted by a hidden network of U.S. companies and coordinated by a prominent defense contractor, newly disclosed documents show.More than 1,
Logger cuts off own toes after foot is pinned

World NewsSept 1, 2011

DENVER (AP) — Jon Hutt was doing logging work all alone in a remote Colorado forest when his six-ton trailer fell onto his right foot.The pain was excruciating, no one was around to hear his cries for help and he couldn't free himself from the big piece of equipment. Montrose Colo., resi
Libyan rebels say they’re closing in on Gadhafi

World NewsAug 31, 2011

HEISHA, Libya (AP) ― Libyan rebels say they’re closing in on Moammar Gadhafi and have issued an ultimatum to regime loyalists in the fugitive dictator’s hometown of Sirte, his main remaining bastion: surrender this weekend or face an attack.“We have a good idea where he is,” a top rebel leader said
Pfizer: New cancer pill gives hope, new strategy

World BusinessAug 31, 2011

TRENTON, New Jersey (AP) ― Pfizer Inc.’s just-approved drug Xalkori, the first new medicine in more than six years for deadly lung cancer, proves the value of precisely targeting rare diseases linked to gene variants, cancer specialists and Pfizer executives said Tuesday.The drug was approved Friday
Automakers bet consumers want compact cars

World BusinessAug 31, 2011

Companies to build more compact cars, hoping bumpy economy won’t slow trendDETROIT (AP) ― Automakers are gearing up to make more compact cars this year. It’s another bet on a part of the car market that has thrived this year as consumers fret about the economy but still want a new set of wheels.Gene