The Korea Herald

Greek risk hits U.S., Europe markets

Sept 13, 2011

LONDON (AP) ― Fear that Greece will default on its debt, perhaps triggering a financial chain reaction that will cause another global recession, hurt European stocks Monday and sent American stocks lower for a time.The market tension came after a German politician suggested Greek finances are so bad
ECB signals rates on hold

Sept 9, 2011
IMF to slash Irish growth forecasts

Sept 8, 2011

The International Monetary Fund will cut its Irish economic growth estimate for this year and next as the outlook for its main trading partners, the euro region, U.S. and U.K. “worsened substantially.” The Washington-based fund will lower its 2011 gross domestic product forecast for the country to 0
ECB expected to confirm rates on hold

Sept 8, 2011

FRANKFURT (AP) ― Many economists think the European Central Bank will signal Thursday that it now sees less risk of unexpected inflation ― and will make it clear that interest rates will not be heading higher for some time.No rate change is expected when the bank’s 23 member governing council meets
Italy Senate OKs austerity plan

Sept 8, 2011

ROME (AP) ― Italy’s Senate approved Premier Silvio Berlusconi’s disputed austerity package Wednesday, ending weeks of uncertainty that roiled financial markets unsure that the government was serious about cutting its deficit and avoiding becoming Europe’s next debt crisis victim.The upper chamber vo
Fiat’s Marchionne becomes Chrysler chairman

Sept 7, 2011

Chrysler Group LLC, the U.S. automaker majority-owned by Fiat SpA, named two new directors and elected Sergio Marchionne, chief executive officer of both automakers, as Chrysler’s chairman. Chrysler said it named Leo Houle and John Lanaway as independent directors, effective immediately. The directo
German court upholds bailouts

Sept 7, 2011

KARLSRUHE, Germany (AP) _ Germany's high court on Wednesday upheld the country's participation in eurozone bailout funds, but ruled that parliament should be more involved in such decisions.The ruling means that while Germany's agreement to take part in the financial rescue of Greece will not be aff
Coca-Cola sees ‘huge opportunity’ to spur per-capita China sales

Sept 6, 2011

Coca-Cola Co., the world’s largest soft-drink maker, is investing in bottling plants and delivery trucks in China as it targets an increase in average per-person consumption from the current two drinks a month. The maker of Sprite, China’s best-selling soft drink, has a “huge opportunity from a per
LVMH weighs bid for Amanresorts luxury hotel chain

Sept 6, 2011

LVMH Moet Hennessy Louis Vuitton SA is among companies that might be seeking to acquire luxury-hotel chain Amanresorts International Pte, said two people with knowledge of the matter. DLF Ltd., an Indian real estate developer, has received at least five non-binding bids of $400 million to $450 milli
China loses WTO appeal on tires

Sept 6, 2011

The World Trade Organization rejected China’s appeal of a ruling that backed U.S. duties on Chinese tire imports, saying the Obama administration hadn’t violated global trade rules in imposing the three-year levies. WTO judges found last December that the tariffs on $1.8 billion of car and light-tru
Many U.S. schools adding iPads, trimming textbooks

Sept 5, 2011

HARTFORD, Connecticut (AP) ― For incoming freshmen at western Connecticut’s suburban Brookfield High School, hefting a backpack weighed down with textbooks is about to give way to tapping out notes and flipping electronic pages on a glossy iPad tablet computer.A few hours away, every student at Burl
Murdoch turns down $6m bonus over hacking

Sept 5, 2011

LOS ANGELES (AP) ― News Corp.’s 38-year-old heir apparent, James Murdoch, says he’s declining his $6 million bonus for the past fiscal year because of the phone hacking scandal at the British tabloid he oversaw as an executive.Even without the bonus, he was awarded a pay package totaling $11.5 milli
Bid to block AT&T deal reflects telecom industry

Sept 4, 2011

WASHINGTON (AP) ― The Obama administration has explained its effort to block AT&T’s purchase of T-Mobile USA by saying it will fight mergers that would reduce competition and hurt consumers.Yet few think the lawsuit the administration filed Wednesday signals a more aggressive stance toward acquisiti
Before Jobs, Sam Walton and Bill Gates took exits

Sept 3, 2011

NEW YORK (AP) -- As CEOs, Sam Walton, Bill Gates and Steve Jobs possessed common traits. They were tireless workers, demanding bosses and sticklers for detail. They were visionaries, too, who reshaped their respective industries.Their companies faced similar challenges when their iconic leaders left
Fears over US economy cause world market rout

Sept 2, 2011

LONDON (AP) -- Worries that the U.S. economy is stalling and may be heading back into recession caused a severe slump in stock markets around the world on Friday.With European indexes already shaken by concerns that Greece may miss its required deficit reduction targets, worse-than-expected U.S. job