The Korea Herald

Sinopec to acquire Canada’s Daylight Energy for $2.1b

Oct 10, 2011

China Petrochemical Corp., the country’s biggest refiner, agreed to buy Daylight Energy Ltd. for about CA$2.2 billion ($2.11 billion) in cash to add oil and gas assets in Canada. The offer of CA$10.08 a share from China Petrochemical, known as Sinopec, is more than double Daylight’s closing price of
How bad can it get if the U.S. falls into recession?

Oct 10, 2011

NEW YORK (AP) ― Are investors overreacting to the prospect of a recession?The slightly better jobs report on Friday notwithstanding, the odds of a recession appear to be climbing, and that’s bringing back scary memories. Though stocks may look cheap thanks to record corporate profits, that was also
China sees higher quality at lower prices in H.K.

Oct 10, 2011

Pan Jingdan traveled more than 40 miles to shop in Hong Kong during China’s Golden Week holiday. Unlike the thousands of Chinese tourists who lined up outside luxury goods stores, she stuffed her bags with shampoo, cosmetics and Unilever’s Dove shower gel. “It’s so much cheaper here, especially if y
Libya oil chief optimistic on output

Oct 10, 2011

TRIPOLI, Libya (AP) ― Libya’s oil production stands at about 25 percent of its prewar levels but could return to an output of 1.6 million barrels per day in about 15 months, the country’s oil chief said Sunday.The OPEC country’s output all but stopped during the months of fighting to oust Moammar Ga
Flying in Africa still pricey despite busier skies

Oct 10, 2011

CAPE TOWN (AFP) -- It has never been easier to fly to Ouagadougou, Juba or Maputo but Africa’s increasingly busy skies are still among the most expensive in the world.Budget carriers are cropping up in the bigger countries, with South African taxi operators last month becoming the latest to enter th
Jobs’ death turns eyes on $76b cash

Oct 10, 2011

A woman leaves a post-it note at a memorial for Steve Jobs, outside an Apple store in Palo Alto, California. (Bloomberg)At a meeting with Apple Inc. finance chief Peter Oppenheimer this year, investor Kishore Rao asked the company to tap its billions in cash to pay a dividend. Oppenheimer had heard
Merkel, Sarkozy reach agreement on bank sector

Oct 10, 2011

BERLIN (AP) -- The leaders of Germany and France, the eurozone's two biggest economies, say they have reached agreement on strengthening Europe's shaky banking sector.German Chancellor Angela Merkel says she and French President Nicolas Sarkozy ``are determined to do the necessary to ensure the reca
France, Belgium, Luxembourg agree on Dexia plan

Oct 10, 2011

BRUSSELS (AP) -- The governments of France, Belgium and Luxembourg said Sunday they had approved a plan for the future of embattled bank Dexia, but they offered no details.In a three-sentence statement issued by the Belgian prime minister's office, they said they supported a proposal by the bank's m
Greece expects $27b solar project

Oct 9, 2011

Greece’s Energy Minister George Papaconstantinou said he expects an agreement by the end of the year that will advance a 20 billion-euro ($27 billion) solar power project, part of an initiative to boost the economy. Papaconstantinou said he plans to sign a pact with European Union officials and rene
Chinese automaker to build plant in Brazil

Oct 9, 2011

SAO PAULO (AFP) ― Chinese automaker JAC Motors said Friday it will invest $500 million to build a factory in Brazil’s northeastern Bahia state, its first outside China.The factory, slated to open in 2014, will have the capacity to produce 100,000 units, Jianghuai Automobile Co. said in a statement.
Smartphone war pauses as world mourns Steve Jobs

Oct 9, 2011

SAN FRANCISCO (AFP) -- The launch of a hot new Google smartphone was delayed as the world mourned the loss of legendary Apple co-founder Steve Jobs and sales began of the latest iPhone.Unconfirmed word also spread that a private funeral was taking place for Jobs, who died Wednesday at the age of 56
Dow, Saudi firm sign $20b deal

Oct 9, 2011
UAW summons leaders; may signal Chrysler deal

Oct 9, 2011

DETROIT (AP) ― The United Auto Workers has asked local union leaders from Chrysler factories to meet in Detroit, normally a sign the union has agreed to a new contract with an automaker.UAW spokeswoman Michele Martin confirmed that union leaders will meet on Monday. She said negotiations for a labor
Private funeral held for Jobs

Oct 9, 2011

SAN FRANCISCO (AP) ― The Wall Street Journal is reporting that the funeral for Apple co-founder Steve Jobs is being held Friday.The newspaper cited an unnamed person familiar with the matter. The person described the ceremony as a small private gathering. The person would not say where or when Frida
H.K. student’s Apple tribute is Internet hit

Oct 9, 2011

HONG KONG (AFP) ― A Hong Kong design student said Friday he was overwhelmed and felt “unreal” after his somber logo in tribute to Apple founder Steve Jobs caused a worldwide Internet sensation.The design, featuring Jobs’ silhouette incorporated into the bite of a white Apple logo on a black backgrou