SEOUL (Reuters) -Kakao Corp’s co-CEO Namkoong Whon has stepped down, the company said on Wednesday, after an outage that shut down South Korea’s largest mobile chat app and other services, triggering widespread backlash from authorities and the public. The resignation, effective Wednesday, leaves co-CEO Hong Euntaek as sole CEO. The company apologised for the outage…
SEOUL (Reuters) -Kakao Corp’s co-CEO Namkoong Whon has stepped down, the company said on Wednesday, after an outage that shut down South Korea’s largest mobile chat app and other services, triggering widespread backlash from authorities and the public. The resignation, effective as of Wednesday, leaves co-CEO Hong Euntaek as sole CEO. The company apologised on…
BEIRUT (AP) — Lebanon’s parliament late Tuesday approved some amendments to a banking secrecy law that has been a key demand of the International Monetary Fund before it agrees to a bailout program amid the country’s economic meltdown. Despite the changes, legal advocacy groups say the alterations to the law will likely not be enough…
By Jonathan Cable LONDON (Reuters) – The European Central Bank will go for another jumbo 75 basis point increase to its deposit and refinancing rates when it meets on Oct. 27 as it tries to contain inflation running at five times its target, a Reuters poll found. As in much of the world, euro zone…
SEOUL (Reuters) -Shares of South Korea’s Kia Corp reversed losses and edged up on Wednesday after the automaker said on Tuesday that its third-quarter earnings will reflect an additional provision of 1.54 trillion won ($1.08 billion) for engine recalls from years ago. Kia’s shares fell shortly after the market open. Hyundai Motor and affiliate Kia…
WASHINGTON (AP) — President Joe Biden will announce the release of 15 million barrels of oil from the U.S. strategic reserve Wednesday as part of a response to recent production cuts announced by OPEC+ nations, and he will say more drawdowns are possible this winter, as his administration rushes to be seen as pulling out…
By Marianna Parraga and Matt Spetalnick WASHINGTON (Reuters) -U.S. officials have made clear that allowing oil major Chevron to expand in Venezuela depends on a grand gesture: the Venezuelan government and opposition returning to election talks in Mexico at least for a first round, three people close to the matter said this week. Under a…
WASHINGTON (Reuters) – The U.S. Transportation Department (USDOT) on Tuesday said it would allow Delta Air Lines and United Airlines to temporarily delay resuming flights to Cuba. United last month said it has been working for months to relaunch Havana service but faces hurdles, while Delta also said it was facing issues in reestablishing service….
By Rajesh Kumar Singh CHICAGO (Reuters) -United Airlines Holdings on Tuesday reported higher-than-expected third-quarter earnings and forecast a stronger profit in the current quarter due to a robust rebound in travel demand. Its shares jumped nearly 8% to $40.14 in extended trading. The Chicago-based carrier reported an adjusted profit of $2.81 per share for the…
United Airlines earned $942 million in the third quarter as vacationers paid higher fares and packed planes over the summer, and the airline offered an upbeat forecast of late-year earnings. United’s CEO said Tuesday that concern about inflation and the economy does not seem to be discouraging people from buying airline tickets. He said that…
