The Korea Herald

Merkel: Europe's rescue fund needs to be expanded

Sept 26, 2011

BERLIN (AP) -- German Chancellor Angela Merkel said Sunday that she would not rule out letting a eurozone country default on its debts once the currency union has its permanent rescue fund in place.In an hour-long interview with ARD television, Merkel underlined the importance of an expanded mechani
Chinese target Arctic with Iceland land deal: experts

Sept 26, 2011

REYKJAVIK (AFP) ― A Chinese businessman’s plans to buy a swathe of Iceland for a resort have sparked local skepticism, amid speculation it is a bid by Beijing to get its hands on Arctic riches.The melting Arctic ice cap means lucrative oil and gas deposits under the seabed could soon become accessib
Boeing delivers first 787 after years of delays

Sept 26, 2011

Boeing delivers its first 787 jet on Sunday. It's been a long time coming.The new jet, which was supposed to be flying passengers three years ago, has been delayed by production and design problems. But now it's here, and airlines expect it to offer travelers much more comfort, open up new routes an
Hope for new approach in euro crisis buoys markets

Sept 26, 2011

PARIS (AP) -- Hopes that European leaders will consider new ways to fight the debt crisis, including a contained Greek default, reassured investors on Monday, though analysts said more specifics will have to emerge before a rally gains traction.Over the weekend, European officials said Germany and o
Russian minister to quit over Medvedev

Sept 26, 2011

MOSCOW (AP) ― Russia’s finance minister has said he will step down rather than serve under Dmitry Medvedev if the president becomes prime minister next year as planned.Alexei Kudrin has been finance minister since 2000 and his conservative fiscal policies are widely credited with helping Russia weat
Europe aims to beef up crisis fund

Sept 25, 2011
Groupon says sales half earlier figure, loses COO

Sept 25, 2011

SAN FRANCISCO (AP) ― Groupon Inc. chopped its stated revenue by more than half in an updated SEC filing Friday as it corrected the way it accounts for money it receives selling coupons. The online deal site also said that its chief operating officer, Margo Georgiadis, has gone back to Google, where
UBS CEO resigns over rogue trading loss

Sept 25, 2011

Gruebel resigns over $2.3b rogue trading loss; bank to restructure investment unitGENEVA (AP) ― UBS chief executive Oswald Gruebel has resigned over a $2.3 billion loss caused by rogue trading at its investment division, which is to be restructured now to prevent similar incidents in future, the Swi
Lagarde: Global economy enters ‘dangerous phase’

Sept 23, 2011

WASHINGTON (AP) ― The head of the International Monetary Fund says the global economy has entered a dangerous phase and that heavy debt burdens could “suffocate” a recovery. Nations must work together to meet the growing risks, IMF Managing Director Christine Lagarde said Thursday. Banks must provid
Greece closer to getting bailout

Sept 21, 2011

International debt inspectors to return to Athens next weekATHENS (AP) ― Debt-saddled Greece has moved closer to getting the vital bailout funds it needs to avoid a disastrous default after persuading international debt inspectors to return to Athens and resume reviewing its austerity program.T
Fed begins meeting, tiptoes toward easing

Sept 21, 2011
EU, IMF raise concerns over bank capital

Sept 21, 2011

EU official warns more banks may need recapitalization; IMF calls for higher buffersBRUSSELS (AP) ― The European Union and the International Monetary Fund on Tuesday raised concerns over the health of European banks as the continent’s debt crisis worsens.The EU’s competition commissioner warned that
Are Netflix’s best days over?

Sept 20, 2011

NEW YORK (AP) ― Netflix is trying to boost business by chopping its services into two separate parts. Unfortunately for investors, the company’s stock price is what’s really been cleaved.The company that once seemed like it could do no wrong has seen its stock lose half its value in the last two mon
Over 500 villagers protest pollution from China factory

Sept 19, 2011

SHANGHAI (AP) ― Police detained at least 20 people after hundreds of villagers in eastern China demonstrated against pollution they blame on a solar panel factory, with some protesters storming the compound and overturning vehicles, local authorities said Monday.The government in Haining city, west
China Southern A380 threats Cathay Pacific

Sept 18, 2011

China Southern Airlines Co.’s focus on domestic flights made it Asia’s largest carrier by passengers. Now, it’s adding Airbus SAS A380s to help challenge Cathay Pacific Airways Ltd. and Singapore Airlines Ltd. on routes to Europe and North America. The carrier, which flew 76.5 million passengers las