Tag: Business
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South Korea’s finance minister says current FX level ‘excessive’
SEOUL, June 23 : South Korea’s Finance Minister Koo Yun-cheol said at a cabinet meeting on Tuesday that the current foreign exchange level at around mid-1,500 won per U.S. dollar is “excessive” compared to the country’s fundamentals. Asked by South Korean President Lee Jae Myung about why the won is so weak d
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Oil gains after selloff, awaits progress on Strait of Hormuz flows
June 23 : Oil prices rebounded on Tuesday after a sharp fall the previous session supported by tempered optimism over U.S.-Iran peace talks, while investors awaited clearer signs of progress in restoring crude flows through the Strait of Hormuz.Brent crude futures gained 24 cents, or 0.38 per cent, to $78.15
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Japan’s factory activity expands at faster pace in June as new orders surge
TOKYO, June 23 : Japan’s manufacturing sector sustained robust growth in June, with new orders surging to their fastest pace in more than four years, though cost pressures continued to intensify due to the repercussions from the Iran war, a survey showed on Tuesday.The S&P Global flash Japan Manufacturing Pur
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In South Korea, a job or partner at Samsung, SK Hynix is the new ‘A+’ catch
SEOUL, June 23 : The global AI boom has turned South Korean chipmaking giants SK Hynix and Samsung Electronics into stock market darlings. It has also thrust their employees into the top tier of the country’s highly competitive marriage market.South Korean matchmaking firms say people working at the firms are
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Meta to pause internal mouse-tracking tech while examining data security issues
(Corrects to say ‘documentation showed’ not ‘document said’ in paragraph 12)By Katie Paul and Jaspreet SinghJune 22 : Meta said on Monday it will pause an internal program that tracks employee mouse movements and digital activity for AI training as the social media giant investigates data security con
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Japan’s Katayama, US Treasury’s Bessent hold online talks, source says
TOKYO, June 22 : Japanese Finance Minister Satsuki Katayama held an online meeting with U.S. Treasury Secretary Scott Bessent late on Monday, a source close to the discussion said, as concerns grow over sharp currency swings.The meeting focused on policy responses to the historically weak yen, potentially inc
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‘Five Eyes’ intelligence alliance warns that new AI models pose urgent cyber risk
WASHINGTON, June 22 : Cutting-edge artificial intelligence technology is poised to supercharge offensive hacking capabilities and urgent action is needed to face up to the threat, U.S., British, Canadian, Australian and New Zealand officials said on Monday.The intelligence alliance commonly known as the “Fi
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Oracle workforce shrinks by about 21,000 employees amid AI adoption
June 22 : Oracle’s total workforce declined 13 per cent, or about 21,000 employees in fiscal 2026, as the cloud computing giant continued restructuring its business, partly driven by the adoption of AI across its operations.The company had a total workforce of 141,000 as of May 31, 2026, compared with about 1
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Solar manufacturing group seeks US tariff probe into Korean imports
June 22 : Three solar panel makers asked U.S. trade officials to investigate cell imports from South Korea, saying producers including Hanwha’s Qcells are using them to evade longstanding U.S. tariffs on Chinese products, according to a petition viewed by Reuters.The petition was filed with the Department of
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BP, Marathon, 7-Eleven, Walmart sued for allegedly using AI to boost California gas prices
June 22 : Gas station operators including BP, Circle K, Marathon Petroleum, 7-Eleven, Walmart and Albertsons were sued on Monday by California drivers who accused them of using artificial intelligence to boost prices at the pump.According to a proposed class action, the defendants violated California’s main a
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