The Korea Herald

Verizon workers return to work without deal

Aug 21, 2011

Striking employees to keep negotiating on health care benefits, pension and work rulesNEW YORK (AP) ― Thousands of striking Verizon workers will return to work starting Monday night, though their contract dispute isn’t over yet.Both the company and the union say they have agreed to narrow the issues
Obama to Congress: Work together to aid jobless

Aug 21, 2011

U.S. President tells Congress to put country over politics and find ways to get people back to workVINEYARD HAVEN, Massachusetts (AP) ― President Barack Obama says members of Congress should put country before politics, set aside their differences and find ways to get people back to work.The preside
Rompuy opposes common euro bonds

Aug 21, 2011

European Union President Herman Van Rompuy ruled out issuing common bonds as a cure for the debt crisis, saying any joint borrowing should wait until European economies and budgets are better aligned.With three countries drawing financial aid and national debts ranging from 6.6 percent of gross dome
HP buys Autonomy as it exits mobile

Aug 19, 2011

PALO ALTO, Califonia (AP) ― Hewlett-Packard Co. is buying Autonomy Corp. to expand its line-up of business software products as it lowers its profile in consumer electronics.The acquisition, announced Thursday, comes amid a flurry of other dramatic moves that will reshape HP, the world’s largest tec
Google-Motorola deal highlights patent arms race

Aug 18, 2011

NEW YORK (AP) ― When an Internet company plunks down $12.5 billion to buy a struggling cellphone company for its collection of patents, it’s another sign that, for the high-tech industry, patents have become a mallet wielded by corporations to pummel their competitors.Google Inc. announced the deal
Gold brokers revel in precious metal revival

Aug 18, 2011

NEW YORK (AP) ― For what is normally a sleepy month, there are so many customers at the Gold Standard, a New York company that buys jewelry, that it feels like Christmas in August. Uncle Ben’s Pawn Shop in Cleveland has never seen a rush like this.Welcome to the new American gold rush. The price of
Core wholesale inflation up most in 6 months

Aug 18, 2011

Companies paid more for wholesale goods, though inflation pressures mutedWASHINGTON (AP) ― A key measure of wholesale inflation rose in July by the most in six months.The measure, called core wholesale inflation, excludes volatile food and energy prices. It surged 0.4 percent last month.But most eco
‘Greece, Ireland, Portugal should default’

Aug 18, 2011

European politicians should let Greece, Ireland and Portugal default while taking steps to ensure Italy and Spain won’t, according to Pacific Investment Management Co.’s Neel Kashkari.“They are delaying and denying as long as possible because the medicine to actually put out this crisis tastes so ba
French, German leaders want elected eurozone chief

Aug 18, 2011

Markets cool on French, German proposals to shore up euro, including ‘economic government’BRUSSELS (AP) ― The leaders of France and Germany said Wednesday that they want the heads of the eurozone countries to elect the president of a new “economic government” who would direct regular summits to resp
HTC sues Apple in new patent dispute

Aug 17, 2011

WILMINGTON, Delaware (AP) ― Taiwanese smartphone maker HTC Corp. is accusing Apple Inc. of violating three patents covering smartphones and other technologies, the latest round in an ongoing dispute between the two companies.HTC filed the latest lawsuit Monday in U.S. District Court in Wilmington, D
Tobacco firms sue FDA over new labeling rule

Aug 17, 2011

COLUMBIA, South Carolina (AP) ― Four of the five largest U.S. tobacco companies sued the federal government Tuesday over new graphic cigarette labels that include the sewn-up corpse of a smoker and a picture of diseased lungs, saying the warnings violate their free speech rights and will cost millio
Merkel, Sarkozy propose eurozone government

Aug 17, 2011

PARIS (AP) -- The leaders of France and Germany called Tuesday for greater economic discipline and unity among European nations but declined to take immediate financial measures seen by many investors as the only way to halt the continent's spiraling debt crisis.The Dow Jones industrial average fell
Buffett calls for more taxes on ‘mega-rich’

Aug 16, 2011

NEW YORK (AP) ― Billionaire investor Warren Buffett is calling on the “mega-rich” to pay more in taxes.Buffett said Monday in a New York Times opinion piece that he would immediately raise rates on households with taxable income of more than $1 million, and he would add an additional increase for th
Asian stocks higher on Japan economic news

Aug 15, 2011

BANGKOK (AP) ― Asian stock markets rose Monday as data showed the economy of earthquake-battered Japan shrank less than expected.Oil prices hovered above $85 a barrel as investor worries began to ease after Wall Street closed in positive territory Friday after a dizzying week of sharp gains and loss
Central bank action eases Europe’s crisis, for now

Aug 15, 2011

FRANKFURT, Germany (AP) ― The European Central Bank pulled Italy and Spain back from immediate financial disaster on Monday, driving down the countries’ dangerously high interest rates by buying up billions of euros worth of their bonds on the open market.But the rescue mission does not address the