Bloomberg South Korean President Moon Jae-in vowed to never accept North Korea’s nuclear program, while also saying he was prepared to meet Kim Jong Un under the right conditions. “Denuclearisation on the Korean Peninsula, which South Korea and North Korea jointly declared in the past, is a position that we could never concede,” Moon said on Wednesday during an extended ...

SEOUL / Reuters Rescue crews were forced to retreat from a stricken Iranian oil tanker in the East China Sea on Wednesday following an explosion on the ship as a fire raged for a fourth day after a dramatic collision. The blast happened on board the tanker in the afternoon after rescue crews were dousing the ship with foam in ...

Bloomberg Peru’s President Pedro Pablo Kuczynski reshuffled his cabinet in a bid to breathe new life into his moribund government after his decision to free former autocrat Alberto Fujimori from jail sparked a wave of criticism. Kuczynski swore in nine new ministers at the presidential palace in Lima. Cabinet Chief Mercedes Araoz and Finance Minister Claudia Cooper remain in their ...

Bloomberg South African President Jacob Zuma said he would appoint a commission of inquiry into allegations that the Gupta family was allowed to influence state decisions and that he would abide by a court ruling for the Chief Justice to select its leader. The High Court in December rejected Zuma’s arguments that he alone can set up the commission and ...

The UK’s obvious turnabout on the desirability of a no-deal exit from the European Union shows how completely the tables have turned in the Brexit negotiations. With less than a year to seal a trade deal, the EU is nudging the UK towards an understanding that the only benign outcome is agreeing to a long transition period. That could allow ...

I repeat myself. For years, I have advocated a wall along our Southern border, which would (I believe) discourage illegal immigration without stopping it altogether. But let’s face it: Whatever the virtues or vices of a wall, it has largely become a political symbol. President Trump and Republicans love it; Democrats and immigration groups despise it. It’s time to break ...

Now this is embarrassing. Shares in Samsung Electronics Co. dropped almost 6 percent in two days this week after operating income for the three months ended December missed analyst estimates. But it wasn’t South Korea Inc.’s crown jewel capturing most investors’ attention. That accolade went to SillaJen Inc., a little-known biotech firm with $5 million in sales. Its turnover was ...

Stock markets started the year on a strong note, and everyone seems to be asking the same question: How much more can high-risk assets appreciate? The dollar may provide the answer. The US currency’s weakness throughout 2017 provided much support for the domestic economy, arguably more than even the anticipation of tax cuts that boosted equities. It has also been ...

Suppose you have two loans. The first is a student loan of $40,000 with an interest rate of 6 percent, and the second is a credit-card balance of $12,000 with an interest rate of 11 percent. You find that at the end of each month, you have about $1,000 left over, and you want to use it to pay down ...

Ever since it took over from national authorities as the euro zone’s supervisor-in-chief, the European Central Bank (ECB) has prided itself on taking a tough stance when it comes to bad loans. But has the ECB neglected other risks in the financial sector? This is the thesis of a curious paper published by the Bank of Italy at the end of ...