The “fiscal cliff” took the stock market on a roller coaster Thursday. Small developments in the tense budget standoff yanked stocks back and forth throughout the day.In the end, U.S. stocks closed lower for the fourth day in a row, sending the unwelcome message that the budget standoff is still far from solved, the economy still far from healed.The erratic performance underscored how the “fiscal cliff” can yank the market back and forth. The term refers to automatic tax increases and government

Greece's four biggest banks need 27.5 billion euros ($36.4 billion) in recapitalization funds by the end of April, the national central bank said in a report released Thursday."Capital needs for all Greek commercial banks were estimated in May 2012 at 40.5 billion euros, of which the 27.5 billion euros corresponded to the four core banks," it said.The four banks, identified as the National Bank of Greece (NBG), Alpha, Eurobank, and Piraeus, will receive support from the state because they are co

South Korea's industrial output bounced back in November, raising expectations that industrial activities might be picking up, a government report showed Friday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries gained 2.9 percent last month from a year earlier, turning around from the previous month's 0.8 percent on-year contraction. The output also grew 2.3 percent on-month, marking the third straight month of expansion. The ser

South Korea posted a record current account surplus for November as exports gained ground, the central bank said Friday, giving support to the already-strong local currency to the U.S. dollar.The current account surplus reached US$6.88 billion in November, up from a revised $5.78 billion in the previous month, according to the Bank of Korea (BOK). The current account is the broadest measure of cross-border trade.The November surplus marked the 10th straight month of a surplus run, making the acc

Tokyo Electric Power Co., owner of the power plant which had the world’s biggest nuclear disaster since 1986, was sued by eight U.S. sailors claiming they were exposed to radiation and the utility lied about the dangers. The sailors aboard the USS Ronald Reagan nuclear-powered aircraft carrier were involved in disaster relief operations following the March 11, 2011 earthquake and tsunami in northeastern Japan that caused the meltdown, according to the complaint filed in U.S. federal court in San

A local court ordered two Hyundai Motor Co. contract workers Thursday to end their two-month protest atop a power-transmission tower, saying rejection of the ruling will cause them to pay daily fines of 300,000 won (US$280).The two workers began the protest on Oct. 17, demanding permanent employment of contract workers. They complain that contract workers are paid far less than regular workers, although both groups do the same type of work. Hyundai Motor currently has about 6,800 contract worker

Oscar-winning actress Kate Winslet has married her third husband in a secret ceremony -- tying the knot with Richard Branson's nephew Ned RocknRoll, The Sun tabloid reported on Thursday.Winslet, 37, was given away by her "Titanic" co-star Leonardo DiCaprio at an intimate service in New York attended by just a few close friends and family in early December, according to the paper.Although Winslet's spokeswoman confirmed the actress had married, it came as a surprise to her family -- her father Ro

Japan's new leaders set to work Thursday on dismantling plans to rid the country of nuclear power by 2040, pledging to review a post-Fukushima policy.The pro-business Liberal Democratic Party-led government also said they would give the green light to any reactors deemed safe by regulators, indicating shuttered power stations could start coming back online."We need to reconsider the previous administration's policy that aimed to make zero nuclear power operation possible during the 2030s," Toshi

President Francois Hollande said on Thursday that French troops would not interfere in the internal affairs of its former colony the Central African Republic, where rebels have seized a large chunk of territory in recent weeks."If we are present, it is not to protect a regime, it is to protect our nationals and our interests, and in no way to intervene in the internal affairs of a country, in this case Central Africa," he said. "Those days are gone."His comments came a day after hundreds of prot

The girlfriend of a suspect in the disappearance and death of a New Hampshire college student was arrested on Christmas Eve for giving alleged false alibis. Kathryn McDonough, 19, of Portsmouth is accused of hindering apprehension or prosecution and conspiracy to hinder apprehension or prosecution in the Oct. 9 disappearance of University of New Hampshire student Elizabeth "Lizzi" Marriott, 19, of Chester, Foster's Daily Democrat (Dover, N.H.) reported Wednesday.Bond was set at $35,000, Foster's

As many as 56 earthquakes hit the Korean Peninsula this year, the second largest number since the nation began seismic observations in 1978, the state weather agency said Thursday.A 3.9 magnitude earthquake that was reported in Muju in the central region on May 11 was the strongest one of the year, according to the Korea Meteorological Administration (KMA).This year's tally compares with the annual average of 43.6 quakes between 1999 and 2011, the weather agency said, adding a record-setting 60

Dallas Cowboys nose tackle Josh Brent has been indicted for felony intoxication manslaughter following a car crash that killed a teammate, prosecutors say.The Dallas County District Attorney's office Wednesday announced the indictment against Brent, who police say was driving during a Dec. 8 crash that claimed the life of his passenger, Cowboys linebacker Jerry Brown.Authorities said Brent, 24, had a blood alcohol content of .189 -- more than twice the legal limit -- when he hit a curb and flipp

South Korea's gender equality improved slightly last year, but the equality level deteriorated when it comes to safety due to the recent rise of heinous crimes against women, a government report showed Thursday.According to the 2012 report on Korea's gender equality by the Korean Women's Development Institute, the nation's equality index was 63.5 out of the full score of 100 for last year, up 0.3 points from 63.2 in 2010.The index measures gender equality in eight major categories: family, welfa

Tens of thousands of people have signed a petition calling for British CNN host Piers Morgan to be deported from the U.S. over his gun control views.Morgan has taken an aggressive stand for tighter U.S. gun laws in the wake of the Newtown, Connecticut, school shooting. Last week, he called a gun advocate appearing on his “Piers Morgan Tonight” show an “unbelievably stupid man.”Now, gun rights activists are fighting back. A petition created Dec. 21 on the White House e-petition website by a user

South Africa's anti-apartheid hero Nelson Mandela was discharged from hospital on Wednesday after almost three weeks being treated for a lung infection but will continue to receive medical care at home, the presidency said.The much-loved 94-year-old had been admitted to a hospital in the capital Pretoria on December 8, the latest health scare for South Africa's first black president."Former president Nelson Mandela was discharged from hospital this evening," said a statement from President Jacob

Toyota Motor Corp. says it has reached a settlement worth more than $1 billion in a case involving unintended acceleration problems in its vehicles.The company said Wednesday the deal will resolve hundreds of lawsuits from Toyota owners who said the value of their cars and trucks plummeted after a series of recalls stemming from claims that Toyota vehicles accelerated unintentionally.Steve Berman, a lawyer representing Toyota owners, said the settlement is the largest in U.S. history involving a

South Korean stocks started lower on Thursday due to falls in major mobile operators, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.12 points, or 0.26 percent, to 1,977.13 in the first 15 minutes of trading.Mobile carriers slumped after an ex-dividend date. Top player SK Telecom tumbled 4.73 percent and KT lost 4.8 percent.Techs, however, outperformed the KOSPI with LG Display jumping 2.5 percent.The local currency was trading at 1,074.05 won to the U.S. dollar as

South Korean manufacturers' business confidence for January rebounded from a 44-month low tallied in the previous month as some economic data showed improved performances, the central bank said Thursday.The index of manufacturers' outlook on business conditions came in at 70 for January, up from 67 tallied for December, according to a monthly survey by the Bank of Korea (BOK). The index measures manufacturers' expectations for the coming month.A reading below the benchmark 100 means pessimists o

As North Korean leader Kim Jong-un wraps up his first year in power, marked by the reckless purging of several old guard elites, he may replace the country's No. 2 leader, Kim Yong-nam, and some other top officials next year, according to a North Korea expert here."Who replaces Kim Yong-nam may tell us about the future direction of the restructuring of the political system," said Alexandre Mansourov, a specialist in Northeast Asian security. He now works as a visiting scholar at the U.S.-Korea I

President Barack Obama and members of Congress prepared for one last try to avert across-the-board tax increases and spending cuts known as the fiscal cliff, as the U.S. Treasury Department warned Wednesday that it will begin taking action to prevent the government from hitting its debt limit.Treasury Secretary Timothy Geithner said in a letter to congressional leaders that the department will use accounting measures to save approximately $200 billion. That could keep the government from reachin