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Korean Air extends 1.1 trillion funding to keep Hanjin International's hotel biz afloat

Sep 18, 2020 05:11 am UTC| Business

Korean Air is injecting 1.1 trillion won into its subsidiary company Hanjin International to help pay debt worth 1.045 trillion won and cover 58 billion won in operating expenses for the latters 73-story Wilshire Grand...

KT, Kakao to develop robots that assist children and elderly

Sep 18, 2020 04:25 am UTC| Business

KT Corp. and Kakao Corp.s telecom unit, Stage Five, will develop an artificial intelligence-powered companion robot targeting children and the elderly. The robot will feature basic movement, such as nodding and folding...

KT to build 5G testing sites in 4 S. Korean locations

Sep 17, 2020 06:30 am UTC| Business

KT Corp will build 5G test facilities nationwide valued at 28.5 billion-won to support companies developing new services on the high-speed network. The project is expected to be completed by 2023 and would provide...

LG Chem to form new company for its battery business

Sep 17, 2020 06:14 am UTC| Business

LG Chem Ltd. will create a new company for its battery business as it anticipates further profitability due to the growing demand from electric vehicle makers. The EV battery market has been on a roll as automakers...

BMW Korea investigated for alleged cover up of fire-inducing defects

Sep 17, 2020 05:35 am UTC| Business

About 20 prosecutors and investigators raided BMW Koreas main office and server storage in Seoul on Wednesday to investigate alleged attempts to cover up mechanical defects responsible for engine fires over the past...

Plane design, administrative flaw blamed for Boeing 737 crashes

Sep 17, 2020 04:55 am UTC| Business

A congressional investigation partly attributed Boeing 737 Maxs design and development and the Federal Aviation Administrations (FAA) failure in the certification process and oversight of the planemaker to the two fatal...

Lego to invest $400 million more in developing sustainable materials

Sep 17, 2020 03:02 am UTC| Business

Danish toymaker Lego would invest $400 million over the next three years to enable the use of sustainable materials instead of oil-based plastic for its products as well as phase out single-use plastic in packaging by...

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Economy

Copper Prices Hold Near Three-Week Low Amid Strong Dollar and Global Slowdown Fears

London copper prices stabilized on Tuesday after earlier slipping to a three-week low, as market sentiment remained pressured by a strengthening U.S. dollar and growing concerns over a potential global economic slowdown....

RBA Raises Interest Rates to 4.35% Amid Rising Inflation Risks and Middle East Tensions

The Reserve Bank of Australia (RBA) increased its benchmark interest rate by 25 basis points to 4.35% on Tuesday, a move widely anticipated by markets. The decision reflects growing concerns over inflation, particularly as...

Asian Currencies Hold Steady as RBA Rate Hike and Middle East Tensions Shape Market Sentiment

Asian currencies traded in a narrow range on Tuesday as investors remained cautious amid escalating geopolitical tensions between the United States and Iran, while also focusing on central bank policy signals. Market...

European Stocks Volatile as U.S.-Iran Tensions Threaten Oil Supply and Global Markets

European stock markets showed volatility on Tuesday as escalating tensions between the United States and Iran raised concerns about global oil supply disruptions and economic stability. The pan-European Stoxx 600 index...

Iran Warns No Military Fix for Hormuz Crisis as Talks Show Progress

Irans Foreign Minister Seyed Araghchi has cautioned that escalating military actions will not resolve the ongoing Hormuz crisis, emphasizing instead the importance of diplomatic negotiations. In a recent statement,...

Politics

NATO Tensions Rise as Trump Reduces U.S. Troops in Germany

European leaders are intensifying diplomatic efforts to keep the United States committed to NATO as tensions escalate following President Donald Trumps controversial decision to withdraw 5,000 U.S. troops from Germany....

Dominican Republic Halts GoldQuest Mining Project Amid Environmental Protests

The Dominican Republic has ordered the suspension of all activities tied to GoldQuest Minings proposed gold and copper development, following large-scale protests driven by environmental concerns. President Luis Abinader...

South Korea Probes Explosion on HMM Vessel in Strait of Hormuz Amid Rising Tensions

South Korea announced an investigation into the cause of an explosion and fire aboard a South Korean-operated cargo ship in the Strait of Hormuz, a critical global shipping route. The incident, which occurred on Monday,...

Armed Suspect Shot Near White House After Firing at Secret Service Officers

A tense security incident unfolded near the White House on Monday when U.S. Secret Service officers confronted an armed and suspicious individual, leading to an exchange of gunfire and a brief lockdown of the area....

Rudy Giuliani Hospitalized in Critical but Stable Condition After Pneumonia

Former New York City Mayor Rudy Giuliani is recovering in a Florida hospital after being diagnosed with pneumonia, according to his spokesperson. The 81-year-old political figure remains in critical but stable condition,...

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

Intel Emerges as Key Contender in Apple’s Chip Manufacturing Strategy Shift

Apple Inc. (NASDAQ: AAPL) is reportedly exploring new partnerships with Intel Corp. (NASDAQ: INTC) and Samsung Electronics (KS: 005930) to manufacture its main processors, signaling a potential shift in its long-standing...

Palantir Reports Record Growth, Raises 2026 Revenue Outlook Above Expectations

Palantir Technologies delivered its strongest sales growth since going public, reporting impressive first-quarter 2026 results that exceeded Wall Street expectations and boosted investor confidence. The company announced...

Anthropic Secures $1.5B AI Venture Backed by Wall Street Giants, Shaking Software Sector

Anthropic has reportedly secured $1.5 billion in funding for a new artificial intelligence joint venture backed by major Wall Street firms, signaling a significant shift in the AI and enterprise software landscape....

Meta Plans $13B AI Data Center Financing in Texas Amid Surging Big Tech Investment

Meta Platforms is reportedly partnering with Morgan Stanley and JPMorgan Chase to secure a massive $13 billion financing package for its planned data center in El Paso, Texas. According to sources cited by Reuters, the...

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...