North korea american

Treasury Secretary Janet Yellen testifies before the House Ways and Means Committee during a hearing on the 2023 on Capitol Hill in Washington, Wednesday, June 8, 2022. [AP] U.S. Treasury Secretary Janet Yellen will be visiting Korea on July 19 and 20. According to the U.S. Treasury Department and the Korean Finance Ministry, Yellen will be stopping in Japan on July 12 and 13 and attending the G20 finance minister and central bank governor meeting in Bali July 15 and 16 before arriving in Korea. On Tuesday, the ministry said Yellen will be meeting with Korean Finance Minister Choo Kyung-ho, the first between the two. They are to discuss economic and financial cooperation and the strengthening of multilateral arrangements. Yellen's visit comes at a time of global economy uncertainties, which have been affecting local financial markets and the value of the won. Korea stocks are down almost 20 percent this year, and the currency is off almost 15 percent. A currency swap with … [Read more...] about U.S. Treasury Secretary Janet Yellen to visit Korea in July

The price of Haepyo canola oil and pressed olive oil will increase by up to 20.8 percent from next month. Ottogi also recently raised the price of commercial cooking oil by 20 percent. Cooking oil, such as canola oil and olive oilm are on display at a large mart in Seoul on Tuesday. [YONHAP] A lighting manufacturing company is losing money on each sale after raw material prices jumped 60 percent. "As we can't raise the price on our products at the rate raw material prices have increased, we face huge losses with the more orders we get," the owner of the manufacturing company said. "I'm considering downsizing our factory as raw material prices will likely rise for a long time." A new survey by the Bank of Korea found that four out of every 10 companies said this year raw material prices have risen by more than 20 percent compared to last year. Two out of every 10 companies said they are considering changes to employment or reducing new business investments in response to … [Read more...] about Losing money on each sale, Korean companies cut back

Financial Supervisory Service building in Yeouido, western Seoul. [YONHAP] Assets of financial holding companies increased 7.4 percent in the first half compared to six months earlier as demand for loans rose, Financial Supervisory Service (FSS) data showed Tuesday. Total assets of the 10 financial holding companies increased 194 trillion won ($164 billion) to reach 2,823 trillion won. The 10 companies are KB, Shinhan, Nonghyup, Woori, Hana, BNK, DGB, JB, Korea Investment and Meritz Holdings. By categories, assets owned by investment firms grew the fastest — increasing 18.9 percent or 48.3 trillion won. This was due to an increase in the value of equities they hold and increases in deposits by retail investors for stock trading. Assets of commercial banks increased by 6.5 percent or 128.6 trillion won from a surge in loans. At credit card companies, assets grew by 7.1 percent or 10.3 trillion won from January to June. For insurance companies, assets increased by 3.7 percent … [Read more...] about Finance sector sees healthy rise in assets in first half

By JILL LAWLESS and JOSEPH WILSON MADRID (AP) — Turkey agreed Tuesday to lift its opposition to Sweden and Finland joining NATO, a breakthrough in an impasse clouding a leaders’ summit in Madrid amid Europe’s worst security crisis in decades triggered by the war in Ukraine. After urgent top-level talks, alliance Secretary General Jens Stoltenberg said “we now have an agreement that paves the way for Finland and Sweden to join NATO.” Russia’s invasion of Ukraine has prompted Sweden and Finland to abandon their long-held nonaligned status and apply to join NATO. But Turkish President Recep Tayyip Erdogan had blocked the move, insisting the Nordic pair change their stance on Kurdish rebel groups that Turkey considers terrorists. Finnish President Sauli Niinistö said the three countries’ leaders signed a joint agreement after talks on Tuesday. Turkey said it had “got what it wanted” including “full cooperation … in the fight against” the rebel groups. The agreement comes at … [Read more...] about Turkey lifting objections to Sweden, Finland joining NATO

- A + A LONDON (June 28): Walgreens Boots Alliance Inc is abandoning the sale of the Boots drugstore chain in the UK citing "unexpected and dramatic change" in the global financial markets since launching the sales process in January. The American healthcare group had been in talks with a consortium between Reliance Industries Ltd and Apollo Global Management Inc over the more than £5 billion (US$6.1 billion) sale of Britain's biggest pharmacy chain. As a result of "market instability severely impacting financing availability, no third party has been able to make an offer that adequately reflects the high potential value of Boots", Walgreens said in a statement on Tuesday. The recent strong performance of Boots, and its key No7 beauty brand, is also behind the decision to retain the business, the company added in the statement. The Boots sale was considered a litmus test for dealmaking in the UK with credit markets becoming increasingly fragile. The easy financing … [Read more...] about Walgreens abandons Boots sale amid volatile debt market

- A + A CHICAGO (June 28): In a year that has seen widespread selling of technology stocks and long-time market leaders fall into bear territory, the woes of Netflix Inc stand alone. The video-streaming company has plummeted 69% this year, abandoned by both investors and analysts as back-to-back disappointing quarterly reports raised concerns about user trends in an industry that’s becoming more competitive and losing its pandemic-related tailwinds. The drop is the most of any Nasdaq 100 or S&P 500 component, and much worse than the former index’s 26% decline. The growth outlook has weakened to the point that Netflix has cut hundreds of jobs and changed its tune on two longstanding principles: it is cracking down on password sharing, and will introduce an ad-based subscriber tier to the platform. That’s on top of a backdrop where high inflation has pushed the Federal Reserve to hike rates sharply, sparking recession fuels and fueling a rotation out of tech. … [Read more...] about The number of Netflix bulls is dwindling

- A + A KUALA LUMPUR (June 28): Poh Huat Resources Holdings Bhd's net profit for the second quarter ended April 30, 2022 (2QFY22) jumped 81.75% to RM23.08 million from RM12.7 million in the same period last year, mainly driven by higher furniture shipments from Malaysia. Quarterly revenue grew 12.57% to RM186.34 million from RM165.53 million, as production activities for both the group's operations in Malaysia and Vietnam continued to do well on the back of sustained orders from its customers in North America. "In particular, our Malaysia operations registered strong growth compared to the previous year's corresponding quarter as we ramped up production to clear order backlogs following the resumption of production after MCO 3.0 (Movement Control Order 3.0). Our Vietnam operations also registered higher shipment, albeit at a more modest level," Poh Huat said. As such, its earnings per share almost doubled to 8.71 sen from 4.79 sen previously, its bourse filing … [Read more...] about After 82% jump in 2Q profit, Poh Huat sees signs of demand slowdown in US amid soaring prices

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) This week, Russia defaulted on its foreign debt for the first time since the Bolshevik revolution after it failed to pay interest on two bonds during a 30-day grace period that expired Sunday. But to put the event in context, we don't need to go as far back as 1918. Instead, we can look to 1998 . That's the year Russia defaulted on ruble-denominated bonds, triggering a "Moscow meltdown" that infected markets around the globe. Quick rewind: In August 1998 , following years of upheaval after the fall of the Soviet Union, the Russian government defaulted on its local debt and devalued the ruble. The move sparked chaos in Russia, driving up inflation, causing an economic contraction and triggering bank … [Read more...] about Russia’s last default sparked a crisis. This time is different

The past two years have seen more than a tenth of Americans move from low-paying labor jobs to positions in tech. Dubbed as “new collar workers,” many of these people used recent lockdowns to learn new skills that have helped them find higher salary roles with greater flexibility. This workforce of people from non-conventional backgrounds can bridge the tech talent shortage, but only if companies can adapt their recruitment processes accordingly. advertisement advertisement Players like Google, Apple, and IBM have taken the step of dropping college degree requirements to attract new collar workers, but bringing on board new workers requires more than eliminating formal education requisites. Even before the pandemic, nearly one third of developers considered themselves self-taught, meaning the relevance of the college degree had already slipped. With the tech industry adding 12,300 jobs from February to March this year, … [Read more...] about How ‘new collar workers’ can help companies push past the Great Resignation

Asian league executives including PBA’s Willie Marcial during the EASL Draw on Tuesday at Shangri-La The Fort. –PBA IMAGES MANILA, Philippines—Commissioner Willie Marcial said the PBA is open to welcoming players from other Asian leagues like the Japan B.League and Korean Basketball League as imports amid the influx of Filipino talents overseas. Marcial is meeting with KBL commissioner Kim Hee Ok Tuesday night with one of the points of discussion a potential “exchange of players” as brought up by the Korean league. “Asian imports are welcome here with us any time,” Marcial said in Filipino Tuesday during the East Asia Super League grouping ceremony at Shangri-La Fort where top officials from other top-tier Asian leagues were present. “The KBL has also told us about exchange of players. I told them, we’ll see how it will work with the league and the (PBA) teams.” The B.League has become a hot destination for Filipino players with the likes of the Ravena brothers Kiefer and … [Read more...] about PBA open to ‘exchange of players’ with other Asian leagues