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U.S. markets recover from steep losses
SEOUL, Aug. 14 (UPI) -- The Seoul High Court gave the former Samsung chairman a three-year suspended sentence and a hefty fine for illegal bond deals, South Korean officials said.
The court fined Lee Kun-hee 110 million won, or $89.2 million, for transactions that caused huge financial losses to a Samsung affilate, CNN reported.
Lee, 67, was convicted of illegally forcing the affiliate, Samsung SDS, to sell bonds with warrants to his son and daughters at a large discount in 1999. The move cost the company a reported 22.7 billion won, or $18 million.
Samsung is South Korea's largest conglomerate with sales of nearly $160 billion and exports of $70 billion in 2008, accounting for about one-fifth of all South Korean exports, the Yonhap News Agency said.
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JAKARTA, May 24 (UPI) --
Indonesia needs to address loopholes in its moratorium on deforestation, Greenpeace said.
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LISLE, Ill., May 24 (UPI) --
A new special operations tactical vehicle has been unveiled by three U.S. companies.
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First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
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It is a whole new ball of wax in Europe these days.
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