The Korea Herald

Thailand floodwaters threaten Bangkok industry

Nov 7, 2011

Thai floodwaters today will test barriers protecting two Bangkok industrial parks near the main international airport as a deluge that has swamped hundreds of factories over the past month courses through the capital. A water mass north of Bangkok should reach Lat Krabang and Bang Chan industrial zones in the eastern part of the city, according to Jate Sopitpongstorn, a spokesman for the Bangkok Metropolitan Administration. The estates include a factory operated by Honda Motor Co., which abandon
Tokyo Exchange in takeover talks with Osaka: Nikkei

Nov 7, 2011

Tokyo Stock Exchange Group Inc. and Osaka Securities Exchange Co. have entered final takeover talks, forging a deal that would unite Japan’s largest bourse operators next year, Nikkei reported, without citing anyone.Tokyo Stock Exchange, which runs the main venue in the world’s third-largest equity market, would offer to buy between 50 percent and 66 percent of Osaka, according to the newspaper. Nikkei said Monday that Tokyo Stock Exchange would be valued 1.5 to 2 times more than Osaka, which ha
Occupy protests inspires T-shirts, trademark bids

Nov 7, 2011

SAN FRANCISCO (AP) _ The revolution will be trademarked and put on T-shirts if an increasing number of entrepreneurs succeed in their attempts to profit from the Occupy demonstrations.A few T-shirts began to appear several days after the first protest began on Sept. 17 with a march through the stree
Initial agreement reached in Greece power-sharing

Nov 7, 2011

ATHENS, Greece (AP) _ Greece's embattled prime minister and main opposition leader agreed Sunday to form an interim government to ensure the country's new European debt deal and oversee early elections, capping a week of political turmoil that saw Greece facing a catastrophic default and threatening
Apple doles out $60m stock grants to execs

Nov 6, 2011

Apple Inc., seeking to retain its management team in the wake of former Chief Executive Officer Steve Jobs’s death last month, gave $60 million restricted-stock grants to most of its senior vice presidents. Software executive Scott Forstall, hardware manager Bob Mansfield, Chief Financial Officer Peter Oppenheimer, marketing chief Phil Schiller, General Counsel Bruce Sewell and operations manager Jeff Williams each received 150,000 in restricted stock units, which vest between 2013 and 2016, acc
CEO Corzine steps down at MF Global

Nov 6, 2011

WASHINGTON (AP) ― He set out to create a mini-Goldman Sachs. In the end, he built a mini-Lehman Brothers.Jon Corzine’s resignation Friday from the securities firm he led capped a week of high drama and swift failure.Less than a week ago, Corzine had expected to sell his firm, MF Global. By week’s end, it had collapsed into bankruptcy. And Corzine had hired a criminal defense lawyer in the face of an investigation of the firm by the FBI and federal prosecutors.MF Global’s collapse points to the r
Fed-up consumers planning for ‘Bank Transfer Day’

Nov 6, 2011

NEW YORK (AP) ― It’s moving day for bank customers.A grassroots movement that sprang to life last month is urging bank customers to close their accounts in favor of credit unions by Saturday.The spirit behind “Bank Transfer Day” caught fire with the Occupy Wall Street protests around the country and had more than 79,000 supporters on its Facebook page as of Friday. The movement has already helped beat back Bank of America’s plan to start charging a $5 debit card fee.It’s not clear to what extent
Papandreou wins confidence vote

Nov 6, 2011

ATHENS (AP) ― Greek Prime Minister George Papandreou survived a confidence vote early Saturday, calming a vicious revolt in his Socialist party with an emotional pledge to step aside if necessary and seek a cross-party government lasting four months to safeguard a new European debt agreement.Papandreou won the critical parliamentary confidence motion 153-145 after a week of drama in Athens that horrified Greece’s European partners, spooked global markets and overshadowed the Group of 20 summit i
Former ‘60 Minutes’ commentator Andy Rooney dies

Nov 6, 2011

NEW YORK (AP) ― Andy Rooney, the curmudgeonly commentator who spent more than 30 years wryly talking about the oddities of life for the TV news magazine “60 Minutes,” died Friday night, CBS said. He was 92.Just a month ago, Rooney delivered his last regular essay on the CBS news magazine.CBS said he died Friday night in New York from complications from a recent surgery.Rooney, also a syndicated newspaper columnist, talked about what was in the news. But he was just as likely to use his weekly te
Greek PM abandons referendum on Greek debt plan

Nov 4, 2011

ATHENS (AP) -- Greece's prime minister abandoned his explosive plan to put a European rescue deal to popular vote Thursday, keeping his government alive -- but passionate squabbling in Athens left the country's solvency in doubt and the eurozone in turmoil.Prime Minister George Papandreou reversed c
Lee expresses support for increasing IMF rescue fund

Nov 3, 2011

CANNES, France-- South Korean President Lee Myung-bak expressed support for a proposal to beef up the rescue fund of the International Monetary Fund when he met with European Union leaders on Thursday, an official said. Senior presidential press secretary Choe Geum-nak quote
Greek government teeters, lawmakers urge PM to resign

Nov 3, 2011

ATHENS, Greece (AP) -- Demands mounted Thursday for Greek Prime Minister George Papandreou to resign and let a coalition government approve a European bailout plan instead of holding a risky referendum on it.Papandreou's proposal earlier this week to put the hard-fought bailout package to a referend
Sarkozy, Obama push for financial crisis solution

Nov 3, 2011

CANNES, France (AP) _ French President Nicolas Sarkozy says he and the U.S. president agree that businesses should contribute to resolving the global financial crisis. Sarkozy said after meeting with Barack Obama in Cannes that the pair ``found a common analysis to make the financi
Russia clinches final deal to join WTO

Nov 3, 2011

MOSCOW (AFP) ― Russia stood Thursday on the verge of ending its tortuous 18-year wait to get into the World Trade Organization after accepting a Swiss-mediated deal that removed reservations by its arch-foe Georgia.The decisive breakthrough came after months of closed-door diplomacy in Switzerland between two rival neighbors that have only had limited ties since waging a five-day war in 2008.Russia is now finally poised to shed its status as the world’s largest economy outside the world’s premie
‘Too soon’ to discuss China buying more EFSF, Zhu says

Nov 3, 2011

It’s “too soon” for China to discuss further bond purchases from Europe’s revamped rescue fund, Vice Finance Minister Zhu Guangyao told reporters in Cannes, France, on the eve of a summit of world leaders. While there are proposals to bolster the European Financial Stability Facility, “there are no concrete plans yet so it’s too early to talk about further investments in these tools,” Zhu said Wednesday. Zhu said the rescue fund, already part of China’s portfolio, is an “important tool” to addre