The Korea Herald

Japan weighs entombing nuclear plant

Mar 31, 2011

Japan is considering pouring concrete into its crippled Fukushima atomic plant as the United Nation’s nuclear watchdog agency warned that a potential uncontrolled chain reaction could cause further radiation leaks.Chief Cabinet Secretary Yukio Edano Wednesday ruled out the possibility that the two undamaged reactors at Tokyo Electric Power Co.’s six-unit Daiichi plant would be salvaged. Units 1 th
Inflation worries push consumer confidence lower

Mar 30, 2011

NEW YORK (AP) ― Rising prices at the gas pump and in grocery aisles are starting to crimp shoppers’ outlook.The Conference Board’s Consumer Confidence Index fell sharply from a three-year high in February, reversing five straight months of improvement.The decline raises questions about Americans’ ability and willingness to spend in coming months.The index fell more than expected to 63.4 from a rev
Developing economies’ lead over rivals has risks

Mar 30, 2011

WASHINGTON (AP) ― The world’s biggest economies are recovering from the Great Recession at troublesome speeds: too fast or too slow. China, India and other major developing countries quickly returned to breakneck rates of growth after escaping the worst of the economic downturn in 2008 and 2009. Their rapid recoveries showed for the first time that emerging economies have grown big and strong enou
Thailand will adjust rates to curb inflation

Mar 29, 2011

Thailand’s central bank may raise interest rates further as oil above $100 a barrel and surging food prices add to inflation pressures stoked by the fastest economic growth in 15 years.“The risk on growth is probably less of a concern, so the risk balance is tilted toward inflation,” Governor Prasarn Trairatvorakul said in an interview with Bloomberg Television in Bangkok Monday. “You can expect f
Markets more predictable than you think

Mar 28, 2011

Stock movements may seem irrational, but they tend to follow patterns even in times of crisisNEW YORK (AP) ― The threat of severe nuclear contamination from a breached Japanese nuclear reactor still looms. The outcome of the escalating war in Libya is uncertain. Yet The Standard & Poor’s 500 index ended the week up 2.7 percent. The Dow Jones industrial average rose 3.1 percent. So what happened to
European carmakers may be forced to idle plants on Japan quake

Mar 25, 2011

Volkswagen AG, PSA Peugeot Citroen and other European automakers may be forced to halt production in coming weeks as component suppliers in earthquake-ravaged Japan struggle to restart factories.The recovery to normal production levels may take months and cost the industry “billions of euros” in lost revenue, said Lars Holmqvist, head of the region’s Clepa auto suppliers association in a telephone
Portugal woes steal show at EU summit

Mar 25, 2011

EU leaders sign off on new crisis strategy amid fears over Portugal’s finances, Irish banksBRUSSELS (AP) ― On the day that EU leaders presented what they hoped was the final version of their plan to solve the region’s debt troubles, their summit in Brussels was overwhelmed by debate over Portugal’s political crisis.The meeting, which concluded early Friday, was supposed to mark the moment when gov
40 Japanese auto suppliers in difficulty, Nissan CEO says

Mar 24, 2011

Nissan Motor Co. Chief Executive Officer Carlos Ghosn said about 40 component suppliers in Japan remain in difficulty after the nation’s record earthquake, complicating automakers’ efforts to restart car production.Electronic components, plastics and rubber are in short supply and will affect Japanese automakers and rivals outside the country, Ghosn, 57, said in a telephone interview. Carmakers ar
‘Color’ app shares with people around you

Mar 24, 2011

LOS ANGELES (AP) ― We’ve all been to weddings where the bride and groom hand out disposable cameras to capture every angle of their big day. Now, a new application called Color allows you to do something similar with your phone, by sharing your images, videos and comments with anyone who comes within 50 feet of you.The free app figures out if other users are close to you by using a secret blend of
Yen drops on ...speculation G7 to maintain intervention

Mar 21, 2011

The yen fell for a second day on speculation the Group of Seven nations will continue to sell the currency to curb its appreciation.The yen slid against all of its 16 major counterparts, extending losses from March 18 after G7 nations followed Japan’s lead and sold the currency as it reached a postwar high, endangering the recovery from its biggest earthquake. The euro rose versus the yen on prosp
‘Disaster could cost Japan $235b’

Mar 21, 2011

World Bank: Japan may need 5 years to rebuild from devastating quake, tsunamiSINGAPORE (AP) ― Japan may need five years to rebuild from the catastrophic earthquake and tsunami that has caused up to $235 billion of damage, the World Bank said Monday.The March 11 disaster ― which killed more than 18,000 people and ravaged northeastern Japan ― will likely shave up to 0.5 percentage point from the cou
Sony, Toyota disruptions may last weeks after quake

Mar 20, 2011

Toyota Motor Corp. and Sony Corp., two of Japan’s biggest manufacturers, are facing worst-case scenarios of long-term production shortfalls as scores of plants remain closed and workers are idled in the aftermath of the March 11 earthquake and tsunami.“The current situation is still difficult,” Chisato Kitsukawa, a spokesman for Tokyo-based Sony, by phone Saturday. The company has shut eight plant
Nintendo 3DS could help vision theraphy

Mar 20, 2011

Optometrists: 3-D screen on Nintendo 3DS could help kids with vision disordersNEW YORK (AP) ― U.S. eye specialists are welcoming the Nintendo 3DS game device, dismissing the manufacturer’s warnings that its 3-D screen shouldn’t be used by children 6 or younger because it may harm their immature vision.On the contrary, the optometrists say, it’s a good idea to get your kids to try the 3-D screen, e
IBM to pay $10m to settle Asian bribe case

Mar 20, 2011

WASHINGTON (AFP) ― IBM has agreed to pay $10 million to settle charges it gave cash and gifts to Chinese and South Korean officials to win contracts for mainframe and personal computers and other products.The agreement with the U.S. Securities and Exchange Commission calls for the U.S. computer titan to pay disgorgement of $5.3 million, interest of $2.7 million and a civil penalty of $2 million.Un
U.K. inflation rate rose to 4.2% in Feb.

Mar 20, 2011

U.K. inflation probably accelerated at the fastest pace since October 2008 in February, which may sharpen the divide among Bank of England policy makers on whether to raise interest rates to tame price pressures.Consumer prices rose 4.2 percent from a year earlier compared with a 4 percent increase in January, according to the median forecast of 32 economists in a Bloomberg News survey. The Office