Chung stays out of jail, but at a price

Hyundai Motor Co Chairman Chung Mong-koo (left), convicted of embezzlement in February, won a suspension of his prison sentence, contingent upon his promise to donate 1 trillion won ($1 billion) to charity.

Milestones in checkered career

1970: Chung joins Hyundai Motor as a director at the Seoul office.

Russian firms may catch up with Total, Exxon

Russian oil stocks, left behind in the global industry rally, are now set to outpace such competitors as Exxon Mobil Corp and BP Plc in the second half of the year.

Oil rises to five-week high in NY

Crude oil rose to a five-week high in New York on speculation US gasoline stockpiles had fallen as refiners reduced production.

Kazakhstan calls for shared control of field

Kazakhstan called on Eni SpA and partners to cede some control over the Kashagan field after failing to meet cost targets and production deadlines at the biggest oil discovery in more than three decades.

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Business International

Shipping demand drives up fuel oil

Fuel oil for the first time in two years is rising faster than gasoline, jet fuel and diesel, increasing the cost of ocean freight and electricity.

Revival in US takeovers after brush with death

Speculation about higher takeover offers for US companies is beginning to recover from a near-death experience in August.

Sony Ericsson CEO Flint to quit

Sony Ericsson Mobile Communications Ltd, the mobile-phone joint venture of Sony Corp and Ericsson AB, said Chief Executive Officer Miles Flint will step down on November 1 and be succeeded by Hideki Komiyama.

Economy 'on fire' Down Under

Australia's economy sped ahead last quarter as a boom in business and government spending outstripped all expectations, reviving speculation interest rate could have to rise yet further to curb inflation.

IN BRIEF (Page 16)