Protesters have taken to the streets of Hamburg, Germany, for the second day of anti-capitalism demonstrations as world leaders prepare to meet for this weekend’s 12th annual G-20 summit. Tens of thousands of people marched across the port city Thursday to display their frustrations about societal inequalities in what they dubbed a “Welcome to Hell” […]
Read moreIndonesia suffered its worst financial crisis in 1997 to 1998. The Asian Financial Crisis that hit the nation severely affected its economy, with some reports indicating a 13.7 percent contraction in growth. In one year, the Rupiah weakened from 2,500 against the U.S. dollar, to 10,000 Rupiah — with the pair peaking at 17,000. Twenty […]
Read moreBerkshire Hathaway Energy, a unit of Warren Buffett‘s Berkshire Hathaway Inc, said on Friday it would acquire Oncor Electric Delivery Company LLC in a deal that puts Oncor’s equity value at about $11.25 billion. Berkshire Hathaway Energy said it agreed to buy reorganized Energy Future Holdings Corp (EFH), Dallas-based Oncor’s bankrupt parent, for $9 billion […]
Read moreSince May, hackers have been penetrating the computer networks of companies that operate nuclear power stations and other energy facilities, as well as manufacturing plants in the United States and other countries. Among the companies targeted was the Wolf Creek Nuclear Operating Corporation, which runs a nuclear power plant near Burlington, Kan., according to security […]
Read moreSouth Korean police said on Friday it raided the headquarters of Korean Air Lines Co. Ltd. as part of an investigation into embezzlement and breach of trust. A police official said it was a probe into allegations that company funds were used to pay for construction work at the home of Korean Air Chairman Cho […]
Read moreThe United States is not interested in making concessions to North Korea anytime soon, following what is widely believed to be that country’s first launch of an intercontinental ballistic missile (ICBM), according to analysts at research firm Eurasia Group. Evan Medeiros, managing director and practice head for Asia at Eurasia Group, wrote in a July […]
Read moreBeijing traffic authorities are investigating whether Baidu broke any laws after CEO Robin Li tested an autonomous car in city streets. Li rode in two different driverless cars in Beijing on his way to speak at a company event for developers on Wednesday. He live broadcast part of the trip from the passenger seat in […]
Read moreChina should focus on fixing fundamental problems that may trigger a financial crisis instead of witch-hunting, an economist said Friday. Speaking to CNBC’s “Squawk Box,” independent economist Andy Xie said China has managed to avoid a financial crisis now by tightening capital controls, but there’s more to be done. “Any other country would’ve collapsed, but […]
Read moreTwo U.S bombers flew over the disputed South China Sea, the U.S. Air Force said in a statement on Friday, asserting the right to treat the region as international territory, despite China’s territorial claims in the busy waterway. Before their flight on Thursday, the two B-1Bs trained with Japanese jet fighters in the neighboring East […]
Read moreThe Bank of Japan stepped up plans for its bond-buying on Friday as Japanese government bond (JGB) yields crept higher, causing the yen and oil to drop. On Friday, the BOJ said it would buy an unlimited number of 10-year JGBs at a yield of 0.110 percent, and it increased the size of its regular […]
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