HSBC, Europe's biggest bank, might consider pulling out of a $6.3 billion deal to take over South Korea's No. 6 bank, Korea Exchange Bank, its Asia chief said on Wednesday.
Lehman Brothers almost struck a deal with Korean financial institutions as part of raising $6 billion in capital, and may yet arrange one by the end of the year, the Financial Times reported on its website, citing people familiar with the matter.
The consumer across the world is under considerable pressure. Record oil prices, the credit crunch and inflationary pressures all appear to be taking their toll on people’s willingness to spend. We got some better data from the UK on Tuesday, but the trend across Europe has been weak since the turn of the year, and many of the big players are beginning to become very worried.
South Korean regulators said on Thursday Intel had abused its dominant position in the local market and ordered the world's top semiconductor maker to pay a fine of about $26 million.
South Korea's foreign reserves posted their second-biggest loss in a decade in May, data showed on Tuesday, after dealers reported authorities dumped some $2.5 billion during the month to prop up the local currency.
Asian markets edged up Friday, led by exporters in Japan, as fears of a deep U.S. recession receded, but gains were capped by worries that inflation will cut into growth and lead to higher borrowing costs.
South Korea's current account surplus hit a three-year high in April as exports grew faster than imports, central bank data showed on Friday, helping push the won up sharply to a fresh 3-week high against the dollar.
Asian markets rallied Thursday with Japanese shares making their biggest daily gain in amonth, after a monthly gauge of U.S. business spending rose to its highest this year. Tokyo closed 3 percent higher, but China's main index slumped.
Asian markets were mostly lower Wednesday, as a cloudy U.S. economic outlook and lingering inflation fears left investors skittish. Australia, Japan and South Korea all closed over 1 percent lower.
Asian markets rebounded Tuesday from the previous session's dip, as bargain hunters scoured the market after five days of losses. Both Japan and South Korea finished over 1% higher.
Asian stocks retreated into negative territory Monday, with most markets down more than 1% on fears that slowing U.S. consumer demand will hurt Asia's export-oriented economies. Japan shed 2.3% while South Korea slipped 1.5%.
Asian markets were mixed Friday following a pullback in oil prices. A stronger U.S. dollar lifted some exporters in the region. Japan managed to close slightly higher but Australia shed 1 percent, weighed down by declining resource stocks.
Asian markets pared back earlier losses Thursday to give a mix performance, though prospects of higher inflation and a weak U.S. economy kept investors cautious. Japan and Australia both managed to close in positive territory.
Asian stocks were sharply lower Wednesday as fears about consumer demand in the face of high oil prices rattled investors. Japan closed 1.6% lower while Australia shed 1.4%.
Asian stocks ended lower on Tuesday, snapping a six-day rising trend, weighed by retailers as oil continued a relentless rise, keeping inflation fears high.
Asian markets hit a new four-month high Monday as a relentless rise in oil prices bolstered resource shares, but wariness about inflation and doubts about the U.S. economy kept gains in check.
Asian stocks rose cautiously Friday with markets modestly higher with Australia finishing just below the 6,000 level. But Japan closed in negative territory on profit-taking after spending most of the session in the black.
Asian markets ended mostly higher Thursday after investors welcomed benign U.S. consumer data which eased inflation fears. South Korea led the advanced finishing over 2 percent higher.
Asian markets turned mostly higher after a lackluster start Wednesday. Both Japan and Australia closed the session 1 percent higher.
Asian markets were mostly higher Tuesday with Tokyo and Seoul both gaining over 1%. But Chinese markets were weighed down by uncertainty following a devastating earthquake in Sichuan.