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Five trends shaping the luxury industry after the Covid-19 crisis

May 14, 2020 10:06 am UTC| Business

The Covid-19 crisis has hit the luxury and fashion industry hard. According to a study conducted by the Boston Consulting Group, sales in these two sectors could drop by 25% to 30% compared to 2019. The economic and...

NCSoft Elicits Record Q1 Sales From Home-Confined Gamers

May 14, 2020 10:03 am UTC| Business

NCSofts brisk sales of mobile games pushed its quarterly revenue by 104 percent 731.1 billion won. The sales, which surged 54 percent to 553.2 billion won in the first quarter from the previous one, accounted for 75.6...

Doosan Towers to be Sold for W700B as Part of Restructuring Plan

May 14, 2020 10:01 am UTC| Business

Doosan Group is in the final stage of negotiation for the sale of its Doosan Tower to Mastern Investment Management for roughly 700 billion won. Doosan has been using the property, located at the Dongdaemun Shopping...

KB Kookmin Bank to Invest W209 B in Canadian Gas Pipeline Project

May 14, 2020 10:01 am UTC| Business

South Koreas KB Kookmin Bank has signed a commitment worth over 209 billion won to finance a 667-kilometer natural gas pipeline project in Canada by TransCanada Energy (TC Energy). The pipeline will bring natural gas...

What is public interest journalism? Providing reliable information to those who need it most

May 13, 2020 09:32 am UTC| Business

Before the arrival of the internet, most journalism was produced in pretty well-off advertising businesses. The proximity of money and public interest journalism was often a source of tension, but rarely rupture. Every now...

Korea Western Power Invests in 240 MW Swedish Wind Farm with NH-Amundi

May 13, 2020 09:24 am UTC| Business

State-run Korea Western Power will co-invest with NH-Amundi Asset Management in a 240-megawatt wind farm project in Sweden. According to the two firms memorandum of understanding, they would build 56 wind turbines in...

SK Biopharmaceutical Targets Share in US Antiepileptic Drug Market with Xcopri

May 13, 2020 06:52 am UTC| Business

SK Biopharmaceutical is eyeing a share of the 4 trillion won US antiepileptic drug market with its cenobamate tablet Xcopri, which treats partial-onset seizures in adults. The drug, approved by the US Food and Drug...

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Economy

Eurozone Recession Risks Rise as Middle East Conflict Threatens Growth, ECB Official Warns

Concerns that the eurozone could face a recession are increasingly valid as geopolitical tensions in the Middle East continue to disrupt global markets, according to European Central Bank (ECB) Governing Council member and...

Yen Stabilizes After Suspected Intervention as Global Currency Markets Stay Cautious

The Japanese yen showed signs of stability in early Asian trading, gaining modest ground after several volatile sessions driven by suspected government intervention. The currency strengthened by 0.1% to 156.885 per dollar,...

Asian Stocks Rise as South Korea Hits Record High on AI Chip Rally

Asian stock markets opened the week on a positive note, led by a strong surge in South Korean equities and renewed momentum in Hong Kongs technology sector. Investor sentiment across the region improved as markets reacted...

Bank of Korea Signals Potential Interest Rate Hikes as Inflation Remains Elevated

The Bank of Korea (BOK) is signaling a shift toward a more hawkish monetary policy stance, with senior officials indicating that interest rate hikes may soon be back on the table. Ryoo Sang-dai, senior deputy governor and...

Asian Stocks Rise Slightly as Oil Prices Hold Steady Amid Middle East Uncertainty

Asian markets inched higher on Monday while oil prices remained stable, as investors weighed geopolitical developments in the Middle East alongside a packed week of corporate earnings and economic data. Sentiment improved...

Politics

Ukraine Drone Strikes Hit Russian Oil Port Primorsk and Naval Targets

Ukraine has intensified its long-range drone campaign against Russia, targeting key energy infrastructure and military assets in a large-scale overnight assault. Ukrainian forces reportedly struck the Baltic Sea port of...

Taiwan President Lai Ching-te Visits Eswatini Amid Rising China Pressure

Taiwan President Lai Ching-te has arrived in Eswatini, marking a significant diplomatic move after his earlier trip was delayed due to restricted airspace access reportedly influenced by China. The visit underscores...

Japan Signals Potential Shift on Arms Exports, Opening Door to Ukraine Support

Japans recent decision to relax its long-standing weapons export restrictions has created a potential pathway for future defense cooperation with Ukraine, according to Kyivs ambassador to Tokyo. While no immediate arms...

Poland Sees No Delays in U.S. Patriot Missile Defense Deliveries Despite Stockpile Concerns

Poland has not received any signals suggesting delays in the delivery of U.S.-made Patriot air defense systems, according to Defence Minister Wladyslaw Kosiniak-Kamysz. His statement comes amid growing concerns across...

Trump Announces “Project Freedom” to Aid Stranded Ships in Strait of Hormuz

U.S. President Donald Trump has unveiled a new humanitarian initiative called Project Freedom, designed to assist neutral commercial vessels stranded in the Strait of Hormuz due to escalating Middle East tensions. The...

Science

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

NASA Artemis II: First Crewed Moon Mission Since Apollo Takes Four Astronauts on 10-Day Lunar Journey

NASAs Artemis II mission launched Wednesday, marking humanitys return to crewed lunar exploration for the first time since the Apollo era. Carrying four astronauts aboard the Orion spacecraft, this historic 10-day mission...

NASA's Artemis II Mission: First Crewed Lunar Journey Since Apollo

NASA's Artemis II Crew Arrives in Florida for Historic Moon Mission

The four astronauts chosen for NASAs Artemis II mission have touched down at Kennedy Space Center in Florida, marking the beginning of final launch preparations for the first crewed lunar journey in over 50 years. NASA...

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

Technology

Anthropic’s $1.5B AI Venture with Wall Street Firms Targets Private Equity Market

Anthropic is reportedly nearing completion of a major $1.5 billion joint venture with leading financial institutions, including Blackstone and Goldman Sachs, aimed at expanding the use of artificial intelligence tools...

Samsung Appoints New TV Business Head Amid Rising Competition from Chinese Rivals

Samsung Electronics, the worlds leading TV manufacturer, has made a significant leadership change in its television division for the first time in over two years. The company announced that Lee Won-jin, formerly head of...

U.S. Cybersecurity Pushes Faster Patch Deadlines Amid Rising AI-Driven Threats

U.S. cybersecurity officials are exploring significantly shorter deadlines for fixing critical vulnerabilities in government IT systems, driven by growing concerns that hackers are leveraging advanced artificial...

Apple Q2 2026 Earnings Surge as iPhone 17 Sales Drive Record Revenue

Apple delivered a strong fiscal Q2 2026 performance, reporting record-breaking revenue and profit growth fueled by robust iPhone sales and expanding services. The tech giant posted earnings of $2.01 per share on $111.18...

FBI Warns of China’s Expanding Hack-for-Hire Network Amid Extradition Case

The Chinese governments alleged hack-for-hire ecosystem is rapidly expanding and becoming increasingly difficult to control, according to a senior FBI official. Speaking on Thursday, FBI Assistant Director Brett Leatherman...