Fire at Hankook Tire not expected to disrupt normal production

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China to start direct yuan-euro trading

Yuan and euro banknotes. (Bloomberg)SHANGHAI (AFP) ― China will begin direct trading between its yuan currency and the euro starting on Tuesday, the national foreign exchange market’s operator said,...

Updated : 2014.09.30 20:17

Judge holds Argentina in contempt over bond orders

NEW YORK (AP) ― A judge, calling civil contempt a rarity, ruled that Argentina was in contempt of court on Monday for its open defiance of his orders requiring that U.S. hedge funds holding Argentine bonds be paid the roughly $1.5 billion they are owed if the majority of the South America...

Updated : 2014.09.30 20:16

More gloomy data casts doubt on Japan recovery

TOKYO (AFP) ― Japan’s factory output saw a surprise drop and household spending kept falling in August, data showed Tuesday, fanning fears about the impact of April’s sales tax rise on the economy.The figures will add to worries that the country’s tentative recovery has been knocked of...

Updated : 2014.09.30 20:16

Fed’s Evans says patience on rates means 2016 with low inflation

Federal Reserve Bank of Chicago president Charles Evans said he favors holding the federal funds rate near zero until the first quarter of 2016 to ensure that the economy is able to withstand higher borrowing costs. “Under appropriate policy, and with a quite good economic outlook, I stil...

Updated : 2014.09.30 20:15

EU to accuse Apple of taking illicit Irish state aid: report

BRUSSELS (AFP) -- The European Union said it will unveil on Tuesday details of investigations into sweetheart tax deals for Apple amid reports it will accuse the U.S. tech giant of getting illegal state aid.The probe into Apple's tax affairs in Ireland, where it has for years enjoyed an e...

Updated : 2014.09.29 21:37

Air France pilots end long strike

PARIS (AP) ― Despite no deal in sight, Air France’s main pilots union on Sunday unilaterally ended a 14-day strike that grounded roughly half of the airline’s flights, stranded passengers worldwide...

Updated : 2014.09.29 20:52

Alibaba approved for private bank in China

SHANGHAI (AFP) ― Chinese e-commerce giant Alibaba, which completed the world’s largest stock offering earlier this month, has received approval to set up a private bank, it was announced Monday.The ...

Updated : 2014.09.29 20:51

China hails free trade zone on one-year anniversary

SHANGHAI (AFP) ― China on Monday hailed the one-year anniversary of its first free-trade zone, but foreign companies expressed disappointment over the pace of pledged reforms as they await real business opportunities.When the FTZ was set up in China’s commercial hub Shanghai, officials p...

Updated : 2014.09.29 20:51

EU to accuse Apple of taking illicit Irish state aid: report

LONDON (AFP) ― The European Union is to accuse U.S. tech giant Apple of taking illegal aid from the Irish state through sweetheart tax deals over two decades, the Financial Times reported Monday.A Eu...

Updated : 2014.09.29 20:51

Protests hit H.K. banks, travel and business

HONG KONG (AFP) ― Hong Kong’s shares tumbled Monday and the local dollar hit a six-month low against the greenback as pro-democracy protests brought parts of the city to a standstill with with many ...

Updated : 2014.09.29 20:50

Investor pushes Yahoo to buy AOL

SAN FRANCISCO (AP) ― Yahoo CEO Marissa Mayer is getting some unsolicited advice on how to turn around the long-struggling Internet company, just like some of her predecessors who tangled with investo...

Updated : 2014.09.28 21:00

EU OKs chatting on flights

BERLIN (AP) ― European skies may soon be alive with the sound of small talk with new safety guidance allowing the use of all portable electronics, including cellphones, at any time during flights. Un...

Updated : 2014.09.28 20:56

Russia, EU lock horns at WTO over vehicle duties

GENEVA (AFP) ― Russia on Friday blocked a European Union move to get the World Trade Organization to order Moscow to void Moscow’s import duties on vans from Germany and Italy.The wrangling over the vehicle duties is part of a raft of politically-charged trade disputes between the EU and...

Updated : 2014.09.28 20:56

Six banks may face record fines over currency rigging

LONDON (AFP) ― Six banks may face record fines in Britain as they begin talks about a settlement following an investigation into allegations of rigging currency markets, the Financial Times reported ...

Updated : 2014.09.28 20:55

U.S. economy’s Q2 rebound faster than thought

WASHINGTON (AP) ― The U.S. economy’s bounce-back last quarter from a dismal winter was even faster than previously thought, a sign that growth will likely remain solid for rest of the year.The econo...

Updated : 2014.09.28 20:54