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Wed, Dec 31, 2025 05:49 PM All times are UTC

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Amorepacific apologizes for employees’ ₩3 billion heist

May 18, 2022 09:26 am UTC| Business Economy

AmorePacific, a South Korean beauty, and cosmetics chaebol issued an apology on Tuesday, May 17, after it was revealed that three of its staff stole money from the company. The employees were said to have embezzled a total...

Reebok stores in Russia up for sale, Turkish retailer FLO Magazacilik reportedly in talks to take over

May 18, 2022 08:23 am UTC| Business Economy

Reebok is selling over 100 of its stores in Russia and Turkeys retail company, FLO Magazacilik, is currently in discussion for the acquisition of the properties. The talks were reportedly confirmed by the latters chairman,...

Samsung reportedly raising prices of its semiconductor products

May 18, 2022 07:46 am UTC| Business Economy

Samsung Electronics Co. is reportedly mulling on hiking prices for its chips. It is considering up to a 20% increase, and this was first reported on Friday. The company is said to be currently in talks with foundry...

Court picks KG Group as SsangYong Motor preferred bidder

May 18, 2022 07:31 am UTC| Business Economy

SsangYong Motor is in search of a new buyer after its acquisition deal with Edison Motors Company failed to push through. The race to acquire the South Koreabased automobile manufacturer opened again, and companies have...

Nike inks Stanford's Rachel Heck as first NIL golfer

May 17, 2022 23:23 pm UTC| Sports Economy Business

US sportswear brand Nike has signed Stanford Universitys Rachel Heck as its first name, image, and likeness (NIL) golf athlete. Heck is presently ranked third in the World Amateur Golf Rankings, with significant...

Digital Currency Revolution

S. Korea's blockchain gaming industry rattled by TerraUSD, Luna debacle

May 17, 2022 23:23 pm UTC| Digital Currency Economy Business

South Korean gaming firms that feature virtual coins and other blockchain functionalities remain on alert over the adverse effects of the recent collapse of the TerraUSD and Luna cryptocurrencies. Cryptocurrencies...

S. Korean patent applications for biodegradable plastic jump 18% annually in last 5 years

May 17, 2022 23:23 pm UTC| Nature Economy Business

The number of South Korean patent applications in biodegradable plastic almost doubled from 97 filed in 2016 to 190 in 2020, as plastic waste emerged as a major social issue in the wake of the COVID-19 pandemic. The...

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Economy

U.S. Stock Futures Slip as Year-End Trading Turns Cautious

U.S. stock index futures edged lower on Tuesday evening as investors prepared for the final trading session of the year, with market sentiment dampened by thin liquidity, lingering Federal Reserve uncertainty, and fading...

Asian Markets End Year on AI Optimism as Precious Metals and Currencies Shine

Asian stocks edged lower on the final trading day of the year, capping a period in which investors largely looked past tariff-related uncertainty and instead focused on the powerful rally in artificial intelligence chip...

U.S. Dollar Slides Toward Biggest Annual Loss Since 2017 as 2026 Risks Loom

The U.S. dollar held steady in thin year-end trading but remained on track for its sharpest annual decline since 2017, as a mix of interest rate cuts, fiscal concerns, and uncertainty around U.S. trade policy weighed...

Oil Prices Slide in 2025 as Oversupply and Geopolitical Risks Shape Market Outlook

Global oil prices declined sharply in 2025, with Brent crude posting its longest stretch of annual losses on record as rising supply continued to outpace demand despite persistent geopolitical tensions. Brent crude futures...

China Manufacturing PMI Rebounds in December, Offering Boost to Economic Growth Outlook

Chinas manufacturing activity unexpectedly returned to expansion in December, ending eight consecutive months of contraction and providing policymakers with renewed confidence as they worked to achieve the countrys annual...

Politics

Philippines Challenges Chinese Research Vessel Spotted Near Cagayan Coast

The Philippine Coast Guard (PCG) has deployed an aircraft to challenge a Chinese deep-sea research vessel spotted operating near the northern Philippines, underscoring rising maritime tensions in the West Philippine Sea...

Salvador Nasralla Challenges Honduras Election Results Amid Fraud Allegations

Honduran presidential candidate Salvador Nasralla has formally challenged the results of Honduras recent presidential election, intensifying political tensions following a narrowly decided and controversial vote. Nasralla,...

U.S. Appeals Court Allows Trump Administration to Enforce Medicaid Funding Ban on Planned Parenthood

A U.S. appeals court has ruled in favor of the Trump administration, allowing it to enforce a controversial Medicaid funding restriction targeting Planned Parenthood in several Democratic-led states. On Tuesday, a...

Zohran Mamdani Names Steve Banks as New York City Corporation Counsel Amid Clash With Trump

Incoming New York City Mayor Zohran Mamdani has announced his pick for corporation counsel, selecting Steve Banks as the citys top lawyer in a move that underscores his administrations combative stance toward President...

U.S. Lifts Sanctions on Three Intellexa-Linked Executives Amid Spyware Controversy

The administration of President Donald Trump has lifted U.S. sanctions on three executives connected to the controversial spyware consortium Intellexa, according to a notice published on the U.S. Treasury Departments...

Science

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Technology

SoftBank Completes $41 Billion OpenAI Investment in Historic AI Funding Round

SoftBank Group has officially completed a massive $41 billion investment in OpenAI, marking one of the largest private funding rounds in global technology history. The deal gives the Japanese conglomerate an estimated 11%...

Elon Musk’s xAI Expands Supercomputer Infrastructure With Third Data Center to Boost AI Training Power

Elon Musk announced on Tuesday that his artificial intelligence startup, xAI, has acquired a third building to further expand its computing infrastructure, signaling a major step in the companys effort to compete with...

ByteDance Plans Massive AI Chip Spending Boost as Nvidia Demand Grows in China

Chinas technology giant ByteDance is preparing to significantly ramp up its artificial intelligence investment, with plans to spend about 100 billion yuan (approximately $14 billion) on AI chips in 2026, according to a...

Samsung Electronics Secures Annual U.S. Licence for China Chip Equipment Imports in 2026

Samsung Electronics has obtained an annual licence from the United States government that allows the South Korean technology giant to import critical semiconductor manufacturing equipment into its China-based facilities...

Applied Digital Stock Rises on AI Cloud Spinoff Plan and ChronoScale Launch

Applied Digital (NASDAQ: APLD) shares climbed about 1.2% in after-hours trading on Monday after the company announced a proposed business combination designed to spin off its cloud computing operations into a new,...