The Korea Herald

Moody’s downgrades a dozen U.K. banks‘

Oct 7, 2011

LONDON (AP) -- Moody’s Investors Service has downgraded the debt ratings of a dozen British banks because of doubts over the strength of the government’s support.Moody’s said Friday that the downgrades include a two-notch downgrade to “A2” for government-controlled Royal Bank of Scotland, and a one-
BOE mulls extra stimulus measures

Oct 7, 2011

LONDON (AP) ― The Bank of England surprised markets Thursday by sanctioning another 75 billion pounds ($116 billion) injection into a British economy that’s suffering from the shockwaves of Europe’s debt crisis and the British government’s austerity program.The Bank’s rate-setting Monetary Policy Co
ECB leaves interest rates unchanged

Oct 6, 2011

BERLIN -- The European Central bank left interest rates unchanged on Thursday, holding off on a step many economists think the eurozone's chief monetary authority will eventually take by year-end to support a weakening economy.Markets waited for bank head Jean-Claude Trichet's last news conference t
Asian tech giants remember Jobs as ‘leading light’

Oct 6, 2011

HONG KONG (AFP) -- Asia‘s technology giants paid tribute to Steve Jobs on Thursday, with Sony and Samsung hailing the late Apple co-founder as the leading light of the digital age and an inspirational entrepreneur.Fans in tech-savvy Japan and Singapore held silent prayers at Apple stores while in Ch
Steve Jobs legacy reaches far beyond Apple

Oct 6, 2011

Steve Jobs was once known as the man who saved Apple computers. He will be remembered as one of the rare few who changed the world.Jobs guided Apple from the brink of financial ruin to a lofty place among the world’s most valuable companies before his death on Wednesday.But thinking of Jobs merely a
10 products that defined Steve Jobs‘ career

Oct 6, 2011

NEW YORK (AP) -- Steve Jobs had no formal schooling in engineering, yet he’s listed as the inventor or co-inventor on more than 300 U.S. patents. These are some of the significant products that were created under his direction:1. Apple I (1976) -- Apple’s first product was a computer for hobbyists a
Jobs tributes light up iPhones, iPads and Twitter worldwide

Oct 6, 2011

CHICAGO (AP) ― There’s no makeshift memorial or candlelight vigil for Steve Jobs at the Apple Store in downtown Chicago. The tributes and condolences are in tweets and news alerts pulsing through the iPhones, iPads and laptop computers inside.One customer visiting from Ireland says he heard the news
American Airlines faces turbulent ride

Oct 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

Oct 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
Sprint gets iPhone, evens odds against AT&T, Verizon

Oct 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
India to launch $45 tablet computer

Oct 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
Italy government bonds downgraded by Moody's

Oct 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

Oct 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

Oct 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
U.S. auto sales up in September on big trucks

Oct 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