President says special envoys help fill diplomatic hiatus

The Korea Herald > World > World Business

With Macron win confirmed, European market rally hits pause

LONDON (AP) -- When Emmanuel Macron topped the first round of voting in the French presidential election two weeks ago, French stocks soared to near-decade highs. On Monday, the reaction to his victory in the runoff was decidedly subdued: investors had been fully expecting it and seem wa...

Updated : 2017.05.08 19:30

[Graphic News] Tablet market extends slide as consumer habits shift

IDC reported an 8.5 percent drop in global tablet shipments to 36.2 million. This was the 10th straight quarterly decline for tablets.Apple led the market with a 24.6 percent share in the first quarte...

Updated : 2017.05.08 18:17

Fitch cuts S. Africa's credit rating to 'junk'

JOHANNESBURG (AFP) -- Ratings agency Fitch said Friday it had cut South Africa's credit rating to junk status, citing the recent political instability prompted by a controversial cabinet reshuffle.The agency downgraded the country's sovereign debt rating from 'BBB-' to 'BB+' but kept the ...

Updated : 2017.04.07 21:29

China to create new economic zone outside Beijing

BEIJING -- China will create a new special economic zone outside Beijing similar to those established in Shenzhen and Shanghai, the government said, in a bid to boost flagging growth and reduce the strain on the capital.The Xiongan New Area, located some 100 kilometres (62 miles) southwest...

Updated : 2017.04.02 20:49

Stock markets, pound subdued as UK triggers Brexit request

World stock markets were subdued Wednesday as Britain triggered the start of its exit from the European Union, a formal step that kicks off two years of negotiations that will have wide-ranging consequences for business in the region.Britain's FTSE 100 was faring worst in Europe, dropping ...

Updated : 2017.03.29 21:35

ECB says 'optimistic' for global deal on bank rules

FRANKFURT (AFP) - Regulators at the European Central Bank said Monday they are "optimistic" that talks on harmonising rules for banks around the world will soon end in a deal.The so-called "Basel III" round of banking talks has stalled in recent months as negotiators battle over questions ...

Updated : 2017.03.27 19:48

European regulators clear Dow Chemical-DuPont merger

BRUSSELS (AFP) -- The EU on Monday approved a $130 billion mega-merger of US agri-chemicals giants Dow Chemical and DuPont, paving the way for major consolidation in a sensitive sector for farmers and the environment.The decision by antitrust regulators was subject to Dupont selling "major...

Updated : 2017.03.27 19:38

Fed rate hike is likely after a robust February jobs report

WASHINGTON (AP) -- A second straight month of robust hiring pointed on Friday to a US economy healthy enough for the Federal Reserve to raise interest rates next week and to signal the likelihood of a...

Updated : 2017.03.11 14:32

Lego stacks up 'supernatural' record sales

STOCKHOLM -- Lego on Thursday announced record revenues for 2016, but slow profit growth marked the end of years of boost for the inventor of the famous multi-coloured plastic bricks.Revenues jumped by six percent last year compared to 2015, to 37.9 billion kroner (5 billion euros, $5.2 bi...

Updated : 2017.03.09 21:33

IMF's Lagarde 'optimistic' about US economy

International Monetary Fund chief Christine Lagarde on Sunday voiced optimism for US economic growth under President Donald Trump but warned it could herald trouble for the rest of the world."From the...

Updated : 2017.02.12 20:46

Twitter woes deepen as loss widens, user growth sputters

WASHINGTON (AFP) -- Twitter came under fresh pressure Thursday as the social network reported sluggish revenue and user growth, and widening losses in the past quarter.Pre-market trades showed Twitter shares slumping 10.8 percent as hopes faded for a rekindling of growth at the messaging p...

Updated : 2017.02.09 22:17

India to remove cash withdrawal limits

MUMBAI (AFP) -- Limits on cash withdrawals will be removed entirely from March 13, India's central bank said Wednesday, as it left interest rates on hold for the second time since a ban on high-value rupee notes.The Reserve Bank of India capped cash withdrawals after Prime Minister Narendr...

Updated : 2017.02.08 20:28

China reserves edge below $3 tril. as yuan pressure rises

China’s foreign-currency reserves edged just below $3 trillion in January, falling to the lowest since early 2011 after the yuan capped its steepest annual decline in two decades.Reserves decreased $12.3 billion to $2.998 trillion, the People’s Bank of China said Tuesday. That compares w...

Updated : 2017.02.07 18:23

Sony halves forecast as yen, movie unit hammer profit

TOKYO(AFP) -- Sony on Thursday halved its full-year profit forecast as it was battered by a near $1 billion writedown on its movie unit while a strong yen also dug into the Japanese firm's bottom line.The dour reading comes as the embattled entertainment giant struggles with a painful rest...

Updated : 2017.02.02 21:00

Global shares fall on uncertainty over US immigration flap

Shares fell in Europe and Asia on Monday, rattled by weak data and the potential impact of President Donald Trump's travel ban on seven Muslim-majority countries and other immigration actions.    KEEPING SCORE: Germany's DAX lost 0.6 percent to 11,744.80 and the CAC 40 in France shed 0....

Updated : 2017.01.30 19:06