Business News - UPI.com

General Dynamics to provide communications support

Wed, 16 May 2012 12:59:21 -0400

FAIRFAX, Va., May 16 (UPI) -- General Dynamics Advanced Information Systems has been contracted by the U.S. Department of Homeland Security for communications support.

Record low rates push mortgage activity up

Wed, 16 May 2012 12:53:18 -0400

WASHINGTON, May 16 (UPI) -- The Mortgage Bankers Association said U.S. mortgage activity rose 9.2 percent in the week ended Friday with interest rates hitting record lows.

Eurozone CPI at 2.6 percent

Wed, 16 May 2012 12:38:00 -0400

BRUSSELS, May 16 (UPI) -- The 12-month consumer price index in the 17-member eurozone rose 2.6 percent in April, the European Union's data office said Wednesday.

Mozambique gas find hikes East Africa boom

Wed, 16 May 2012 12:29:46 -0400

MAPUTO, Mozambique, May 16 (UPI) -- Mozambique's drive to become a major natural gas producer got a major boost last week with the discovery of a large offshore field in the Indian Ocean containing an estimated 20 trillion cubic feet.

Industrial production rose in April

Wed, 16 May 2012 12:00:26 -0400

WASHINGTON, May 16 (UPI) -- Industrial production rose 1.1 percent in April after two months of holding unchanged, the U.S. Federal Reserve said Wednesday.

Home construction starts rose in April

Wed, 16 May 2012 11:41:33 -0400

WASHINGTON, May 16 (UPI) -- New home construction starts in the United States rose in April, but permits that predict future business fell, the Commerce Department said Wednesday.

India to reduce Iran oil imports

Wed, 16 May 2012 11:31:31 -0400

NEW DELHI, May 16 (UPI) -- India said it will reduce crude oil imports from Iran this year by 11.1 percent.

U.S. stocks rise early Wednesday

Wed, 16 May 2012 11:16:04 -0400

NEW YORK, May 16 (UPI) -- U.S. stocks turned higher Wednesday morning, despite worries over the Greek economy that have put pressure on markets for the past week.

BAE looks to East Malaysia

Wed, 16 May 2012 10:56:16 -0400

KUALA LUMPUR, Malaysia, May 16 (UPI) -- Senior executives at BAE Systems are to visit East Malaysia to expand cooperative ventures with local companies.

Northrop signs MOUs with Brazilian firms

Wed, 16 May 2012 10:48:23 -0400

ITAJUBA, Brazil, May 16 (UPI) -- Northrop Grumman has signed agreements with two Brazilian companies for possible precision aerospace and defense machining work.

General Dynamics debuts new machine gun

Wed, 16 May 2012 10:41:55 -0400

CHARLOTTE, N.C., May 16 (UPI) -- A new machine gun with a punch similar to a .50-caliber weapon but lighter in weight has been displayed by General Dynamics Armament and Technical Products.

Oil price skids on potential buildup

Wed, 16 May 2012 10:40:53 -0400

NEW YORK, May 16 (UPI) -- Crude oil prices dropped to nearly $93 a barrel on the New York Mercantile Exchange Tuesday as U.S. stockpiles are expected to have grown this week.

T-6C trainer completes demo tour

Wed, 16 May 2012 10:36:38 -0400

WICHITA, Kan., May 16 (UPI) -- A Hawker Beechcraft military training aircraft has finished up a two-month tour of the Asia-Pacific region to demonstrate its capabilities.

How will global warming impact water availability?

Wed, 16 May 2012 10:34:07 -0400

WASHINGTON, May 16 (UPI) -- A general increase in average temperatures means there's less snowmelt feeding river basins in the United States, a study found.

Groups spar over Canadian oil sands

Wed, 16 May 2012 10:22:10 -0400

OTTAWA, May 16 (UPI) -- Industry advocates say "radical" environmentalists are blocking Canada's economic development, but oil sand critics say development comes with inherent risks.

Canadian manufacturing sales advance

Wed, 16 May 2012 10:20:27 -0400

OTTAWA, May 16 (UPI) -- Petroleum and coal helped Canadian manufacturing sales advance 1.9 percent to 49.7 billion in March, Statistics Canada reported Wednesday.

U.S. says most oil, gas acreage is idle

Wed, 16 May 2012 10:11:04 -0400

WASHINGTON, May 16 (UPI) -- More than two-thirds of the onshore and offshore acreage leased for oil and natural gas exploration remains idle, the U.S. Department of Interior said.

California groups back fracking ban

Wed, 16 May 2012 10:08:28 -0400

LOS ANGELES, May 16 (UPI) -- Environmental groups say no amount of regulation can ensure so-called fracking of oil and natural gas deposits is safe for California.

EPA to spend millions on California cleanup

Wed, 16 May 2012 10:01:35 -0400

LOS ANGELES, May 16 (UPI) -- A $6.6 million settlement with the Environmental Protection Agency will help pay for the cleanup of harmful solvents at a former industrial site in California.

Economic Outlook: Facebook's faceoff

Wed, 16 May 2012 09:39:00 -0400

By ANTHONY HALL
United Press International
U.S. automaker General Motors, one of Facebook's biggest accounts, is quitting the social media Web site, saying it is not cost effective to advertise there.

Shell proposes LNG hub for western Canada

Wed, 16 May 2012 09:24:56 -0400

VANCOUVER, British Columbia, May 16 (UPI) -- British supermajor Shell announced it teamed up with its Asian partners to develop a proposal for a liquefied natural gas export hub in western Canada.

Anadarko finds gas off Mozambique coast

Wed, 16 May 2012 08:59:45 -0400

HOUSTON, May 16 (UPI) -- U.S. energy company Anadarko Petroleum Corp. announced it made a major new natural gas discovery off the coast of Mozambique.

BG Group makes 5th gas find in Tanzania

Wed, 16 May 2012 08:57:57 -0400

READING, England, May 16 (UPI) -- British energy company BG Group said Wednesday it made its fifth consecutive natural gas discovery off the southern coast of Tanzania.

Elgin leak killed, Total announces

Wed, 16 May 2012 08:55:09 -0400

ABERDEEN, Scotland, May 16 (UPI) -- French supermajor Total announced Wednesday it stopped the natural gas leak at the Elgin platform off the coast of Scotland in the North Sea.

Ankara assumes Nabucco West will win

Wed, 16 May 2012 08:52:15 -0400

ANKARA, Turkey, May 16 (UPI) -- Ankara assumes that Nabucco West would be an extension of a natural gas pipeline already planned for the country, an official said.