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Business

Moody’s downgrades Spain’s sovereign debt three notches

MADRID, June 13 (Xinhua) — International rating agency Moody’s downgraded on Wednesday the Spanish sovereign debt from A3 to Baa3 with a negative outlook. Moody’s explained that the bailout the Spanish government is intended to ask is one of the main reasons of this decision as the move will increase…
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Business

‘Cool-biz’ dress code in vogue

Japan initiated the current global trend for the “cool-biz’’ dress code as part of its efforts to reduce electricity consumption, following an explosion at the Fukushima nuclear power plant early last year after an earthquake triggered a tsunami. Since the incident, the Japanese government has shut down all nuclear power…
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Samsung to offer Facebook-like service

Samsung Electronics is expected to make a foray into the social network service (SNS) market early next year by introducing a Facebook-like service, according to Samsung officials, Tuesday. They said that the electronics giant is developing a social networking service it hopes could eventually compete with Facebook. The new website…
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Business

Difficlties go on despite financial assistance to Spain

<Nikkei Editorial on June 12> Member nations of European Union(EU) has decided to give Spanish Bank financial assistance of 100 billion Euro (about 10 trillion yen) at maxium. We welcome the decision, though belated, of removing the cause for concern on the part of the regional market. Despite the decision,…
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Business

Legislature to vote on US beef amendments

The Legislative Yuan is scheduled to vote on the so-called beef amendments today. The Democratic Progressive Party (DPP) caucus said yesterday it’s staging an unprecedented 120-hour filibuster that could kill the package. If passed, amendments to Act Governing Food Sanitation would relax Taiwan’s zero-tolerance policy against U.S. beef imports containing…
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Business

Roundup: Wall Street unimpressed by Spain bailout

NEW YORK, June 11 (Xinhua) — U.S. stocks retreated on Monday and closed at session lows following a short rally as enthusiasm about the Spanish bank aid package faded. When the market closed, the Dow Jones industrial average fell 142.97 points, or 1.14 percent, to 12,411.23. The Standard & Poor’…
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Can Korea withstand impact of ‘perfect storm’?

Can Korea withstand the impact of a “perfect storm” ― a swooning toxic Europe, a faltering U.S. recovery and a slowing China? Policymakers are trying to be reassuring, pointing to their huge foreign currency war chest and protections against massive capital outflow Others cite an ever-growing trade dependency, vulnerability of…
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Business

Doosan Group goes paperless with iPad

Doosan Group Chairman Park Yong-maan is a chief executive who quickly adapts to change. He frequently tweets the public and tries out new technologies to stay ahead of the pack. In this spirit of adaptation and innovation, Park is now trying to make Korea’s oldest conglomerate become a paperless operation…
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Business

Samsung changes 2 top officials

Conglomerate adopts emergency footing Samsung Electronics said Thursday that its CEO and Vice Chairman Choi Gee-sung will serve as the head of the group’s future strategy planning division, which will make him the top secretary and right-hand man of Group Chairman Lee Kun-hee. Kwon Oh-hyun, who has been the head…
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Mobile carriers urge KCC to block Kakao’s free phone service

The domestic mobile carriers ― SK Telecom, KT and LG Uplus ― are expected to urge the telecommunications regulator to block Kakao Talk’s free voice service, which started here Tuesday. They claim that the free call service offered by the nation’s most popular mobile messenger service provider could deal a…
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