Creditors of JoongAng Ilbo Co. picked DaouKiwoom-CJ consortium as the preferred bidder for one of the major South Korean newspaper publishers as they closed bidding for the debt-laden company earlier in the day, industry sources said Monday. According to the sources, the DaouKiwoom-CJ consortium beat Orion and four others in a race to take over JoongAng Ilbo, a deal estimated at between 400 billion won ($300 million) and 500 billion won. In July this year, JoongAng Ilbo entered the debt workout program, led by main creditor Hana Bank and other lenders, amid liquidity problems at its parent, JoongAng Group. Creditors' debt collection has been suspended for three months, allowing the company to avoid court-led rehabilitation proceedings. JoongAng Holdings owns a 64.7 percent stake in JoongAng Ilbo and is controlled by the founding family of JoongAng Group.
Read full articleThe Department of Homeland Security (DHS) has ordered that products from the Chinese AI startup DeepSeek be removed from federal agency IT systems and barred from government contracting. The order, which initially went out in July, was published on the Federal Register website Monday. It said DeepSeek’s AI models present “multiple threat vectors,” noting the...
In New York last month, US-China talks on artificial intelligence opened up a path of cooperation. This was affirmed by the Xi-Trump summit in Washington where both presidents agreed to establish a formal AI dialogue and hotline. With the next AI meeting set to happen in November, it is imperative that both countries further cooperation. The AI ecosystem is in flux. American tech companies are draining their coffers as they commit vast sums to chips, data centres and energy before the revenue...
Asian-Americans are laser-focused on the economy and healthcare costs and increasingly disenchanted with US President Donald Trump and his Republican Party leading into the highly consequential November 3 midterm elections, according to a survey released on Monday. While the general trend among Asian-American and Pacific Islanders (AAPI) mirrors the broader US electorate, the minority community’s views are frequently more pronounced, seen in part because they have been the object of more raids,...
Stocks in the AI industry bounced back on Wall Street and recovered some of their steep losses from last week, but the rest of the market and stocks worldwide were shaky.
Prime Minister Anthony Albanese provides an update on the alleged 'deliberate attack' on independent MP Helen Haines.
US President Donald Trump said on Monday he was open to a three-way meeting with Chinese President Xi Jinping and Russian President Vladimir Putin during his visit to China next month, with nuclear weapons on the agenda. “We would have it to talk about nuclear weapons and denuclearisation,” Trump told reporters outside the White House before travelling to Kansas. “If President Xi wants to have it, I’d have it.” Trump said the proposed meeting was his suggestion and linked it to his November...
Another e-bike rider was killed in a collision over the weekend in Huntington Beach, marking the second time in months an e-bike rider was killed in the coastal city.
After a sinkhole swallowed his driveway in September, Nicolas Cage has received permits to remove debris and guard the home from further damage brought by tropical storms.
Steve Verheul said the United States won’t simply drop issues like the Online News Act and digital sovereignty that it has identified as trade irritants.
A man has been arrested after federal MP Helen Haines was struck by a vehicle in front of her Victorian electorate office.
Protesters have blocked the famous Louvre museum in Paris as French authorities introduce limited curfews.
The Bureau of Meteorology is warning South-East Queensland will be hit with a month's worth of rain in a week.