The Korea Herald

Germany dampens expectations

Oct 18, 2011

German finance minister says no euro debt solution this weekendBerlin dampened expectations Monday that an upcoming EU summit will finally provide a solution to the eurozone debt crisis, amid warnings that market instability is damaging the real economy.Financial markets and the euro both rallied ea
China's economic growth slows to 9.1 percent in Q3

Oct 18, 2011

HONG KONG, Oct. 18 (Yonhap) -- China's economic growth slowed in the third quarter of the year from three months earlier, the statistical agency said Wednesday, amid the country's continuous monetary tightening and uncertainties of the global economy. The country's gross domestic product (GDP) grew
Stocks slide as Germany cools hope for debt deal

Oct 18, 2011

NEW YORK (AP) -- A week ago, markets were soaring on hopes that a fix for Europe's debt crisis was near. On Monday, stocks had their worst drop in two weeks after German leaders cast doubt on how fast that process would be.Expectations that a resolution to the crisis could be reached at a European s
Spain faces hard 2011 with big deficit: analysts

Oct 17, 2011

MADRID (AFP) ― Spain is on track to miss key targets for economic growth and deficit-cutting in 2011, analysts say, a grim scenario that is pounding its credit rating.Standard & Poor’s downgraded Spain’s credit rating Friday by a notch to “AA-,” a week after its rival Fitch Ratings sliced the rating
China growth may top 9 percent

Oct 17, 2011

China’s economy probably grew more than 9 percent in the third quarter, indicating the nation remains an engine of global growth even as Europe grapples with the sovereign debt crisis and the U.S. recovery falters. Gross domestic product increased 9.3 percent from a year earlier, according to the me
Hong Kong starts trading bullion in yuan

Oct 17, 2011

Hong Kong’s Chinese Gold & Silver Exchange Society, a century-old bullion bourse, will start trading gold quoted in yuan Monday, boosting the city’s status as an offshore hub for the currency. The gold product may generate as much as HK$6 billion ($770 million) in trades a day, exchange President Ha
Silicon Valley elite honor Jobs

Oct 17, 2011

PALO ALTO, California (AFP) ― Silicon Valley nobility paid tribute to revered Apple co-founder Steve Jobs on Sunday at a private memorial service held under tight security at Stanford University.Security teams from Apple and Stanford along with local police officers cordoned off the main quad on cam
Security heavy at private service for Steve Jobs

Oct 17, 2011

PALO ALTO, California (AP) -- Security is heavy at Stanford University as some of Silicon Valley's elite gather for a private memorial for Apple Inc. co-founder Steve Jobs.Attendees arrive for the private memorial service for Steve Jobs at Stanford University, Sunday, Oct. 16, 2011, in Stanfor
U.S. retail sales rise strongly led by autos

Oct 16, 2011

WASHINGTON (AP) ― U.S. consumers stepped up their spending on retail goods in September, a hopeful sign for the sluggish economy.They spent more on autos, clothing and furniture last month to boost retail sales 1.1 percent, the Commerce Department said Friday. It was the largest gain in seven months
Lines for iPhone turn into Jobs memorials

Oct 16, 2011

NEW YORK (AP) ― It wasn’t just the latest iPhone that drew people to Apple stores Friday. Many consumers waited in lines for hours ― sometimes enduring chilly temperatures and overnight thunderstorms ― to remember Steve Jobs, Apple’s visionary who died last week. The company’s first iPhone release s
'Angry Birds' maker may hold IPO in 2012, Mighty Eagle says

Oct 15, 2011

Rovio Entertainment Oy, the Finnish creator of “Angry Birds” mobile-phone games, may sell shares to the public as early as next year and is probably worth more than $1 billion, its chief marketing officer said. "We’re not ready to file for an IPO tomorrow,” Peter Vesterbacka, who also goes by the ti
S&P lowers Spain rating by a notch

Oct 14, 2011

WASHINGTON (AFP) ― Standard & Poor’s cut Spain’s long-term credit rating by one notch to “AA-” from “AA” with a negative outlook, following downgrades to the country’s top banks. S&P said Spain’s high unemployment, tighter financial conditions and “the likely economic slowdown in Spain’s main tradin
China unveils rule on foreign direct investment in yuan

Oct 14, 2011

HONG KONG (Yonhap) -- China promulgated Friday a rule on foreign direct investment (FDI) made in the yuan, a move seen to promote the use of the Chinese currency by foreign investors.The central People's Bank of China (PBOC) announced it has issued regulations about FDI settled in the Chinese curren
Slovakia approves expanded eurozone bailout fund

Oct 14, 2011

BRATISLAVA, Slovakia (AP) -- Slovakian lawmakers on Thursday approved expanding the size and powers of the EU bailout fund, overcoming an earlier rejection and removing the last hurdle to the fund's use as the continent's main weapon against the debt crisis.The parliament had rejected the changes to
Computer sales slow as people turn to tablets

Oct 13, 2011

Visitors try Samsung Electronics Co. Galaxy Tab 10.1 tablet computers at the company’s headquarters in Seoul. (Bloomberg)SAN FRANCISCO (AFP) ― Gartner research on Wednesday reported that worldwide sales of personal computers slowed in the recently ended quarter as people opted to spend money on smar