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POPULAR NEWS
Shanghai Stocks Rally after Supporting Remarks (Review)

Shanghai stocks rebounded from early losses to surge more than two percent Friday after top economic officials made rare coordinated statements aimed at shoring up investor confidence in the country's troubled markets. The benchmark Shanghai Composite Index jumped 2.58 percent, or 64.05 points, to 2,550.47 but it still finished the week 2.1 percent lower. The Shenzhen Composite Index, which tracks stocks on China's second exchange, also gained 2.58 percent, or 31.80 points, to 1,263.81 but...

Stocks end mixed; Nasdaq suffers 0.6% weekly fall

Stocks saw a mixed finish to a choppy session Friday, with the Dow Jones Industrial Average taking back a modest portion of the previous session's more-than-300-point decline. The tech-heavy Nasdaq Composite lagged behind, falling 0.5% to finish around 7,449, according to preliminary figures, and leaving it with a 0.6% weekly loss. The S&P 500 ended less than 0.1% lower near 2,768, leaving it virtually unchanged on the week. The Dow rose around 65 points, or 0.3%, to close near...

Euro finds footing as EU softens Italy criticism

Foreign exchange markets reflected an improvement in risk sentiment after sluggish data on Chinese economic growth was offset by words of support Chinese authorities on Friday. Also, a European Union official attempted to ease tensions with Italy over the government™s fiscal plans, helping soothe fears of a budget showdown between Rome and Brussels and boosting the euro. European Economic Affairs Commissioner Pierre Moscovici said Italy was strongly committed to the EU and the euro, and...

Lawyers of Jailed South Korean President Resign
Tuesday, 17 October 2017 03:38 WIB | GLOBAL |Global

The seven defense lawyers of ousted South Korean President Park Geun-hye resigned en masse Monday to protest what they say is a biased corruption trial.

Speaking for the first time since the start of her trial, Park, who was removed from office and arrested in March, called the proceedings against her an act of "political revenge."

Park was impeached in December by parliament and in March fired by the country's top court, following revelations of her involvement in a massive corruption scandal centered on a friend of 40 years and some of the country's top businessmen, including Samsung heir Lee Jae-yong.

She faces charges of bribery, extortion, abuse of power and other high-profile corruption charges that could potentially send her to jail for life.

The lawyers' resignations were submitted because they took issue with the extension of her detention. Last week it was extended until April 2018.

The court said Park could destroy evidence if she were released.

One of the lawyers told South Korean news agency Yonhap, "Witnessing the grand principles of presumption of innocence and trial without detention helplessly collapsing, the lawyers feel no need to get involved in future court proceedings." He said, "As we've reached a conclusion that any defense argument for the defendant is meaningless, all of us decided to resign."

Park told the court "I've come to the conclusion that it's meaningless to believe that the court will handle the case only in accordance with the constitution and conscience."

The former president has maintained that she is innocent.

Park is the first elected leader to be removed from office in South Korea since democratic rule was established in 1987.

 

Source: VOA

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POPULAR NEWS
Shanghai Stocks Rally after Supporting Remarks (Review)

Shanghai stocks rebounded from early losses to surge more than two percent Friday after top economic officials made rare coordinated statements aimed at shoring up investor confidence in the country's troubled markets. The benchmark Shanghai Composite Index jumped 2.58 percent, or 64.05 points, to 2,550.47 but it still finished the week 2.1 percent lower. The Shenzhen Composite Index, which tracks stocks on China's second exchange, also gained 2.58 percent, or 31.80 points, to 1,263.81 but...

Stocks end mixed; Nasdaq suffers 0.6% weekly fall

Stocks saw a mixed finish to a choppy session Friday, with the Dow Jones Industrial Average taking back a modest portion of the previous session's more-than-300-point decline. The tech-heavy Nasdaq Composite lagged behind, falling 0.5% to finish around 7,449, according to preliminary figures, and leaving it with a 0.6% weekly loss. The S&P 500 ended less than 0.1% lower near 2,768, leaving it virtually unchanged on the week. The Dow rose around 65 points, or 0.3%, to close near...

Euro finds footing as EU softens Italy criticism

Foreign exchange markets reflected an improvement in risk sentiment after sluggish data on Chinese economic growth was offset by words of support Chinese authorities on Friday. Also, a European Union official attempted to ease tensions with Italy over the government™s fiscal plans, helping soothe fears of a budget showdown between Rome and Brussels and boosting the euro. European Economic Affairs Commissioner Pierre Moscovici said Italy was strongly committed to the EU and the euro, and...

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