Business News - UPI.com

Oil spilled in Canadian train derailment

Wed, 22 May 2013 06:14:33 -0400

REGINA, Saskatchewan, May 22 (UPI) -- Two rails cars that were included in a derailment in Saskatchewan lost their entire oil cargoes, a provincial official said.

Obama threatens Keystone XL veto

Wed, 22 May 2013 06:00:27 -0400

WASHINGTON, May 22 (UPI) -- U.S. President Barack Obama would veto a House measure that would fast-track the approval of the planned Keystone XL oil pipeline, the White House said.

Moniz open to considering LNG exports

Wed, 22 May 2013 05:40:13 -0400

WASHINGTON, May 22 (UPI) -- U.S. Energy Secretary Ernest Moniz said he'd review the prospects for export licenses for liquefied natural gas on a case-by-case basis.

Scotland says oil, greens, support independence

Wed, 22 May 2013 05:34:14 -0400

EDINBURGH, Scotland, May 22 (UPI) -- Scotland has the economic resources available to endure as an independent country in part because of its energy sector, First Minister Alex Salmond said.

Bernanke testimony follows charge he withheld information

Wed, 22 May 2013 03:00:00 -0400

WASHINGTON, May 22 (UPI) -- U.S. Federal Reserve Chairman Ben Bernanke's Capitol Hill testimony Wednesday follows lawmakers charging he purposely withheld strategic information from them.

U.S., Myanmar sign trade framework agreement

Wed, 22 May 2013 00:51:06 -0400

WASHINGTON, May 22 (UPI) -- The United States and Myanmar signed a trade and investment framework agreement, coinciding with the visit of Myanmar President Thein Sein.

Oettinger: EU studying 'fracking' as it seeks to cut energy prices

Wed, 22 May 2013 00:04:00 -0400

BRUSSELS, May 22 (UPI) -- The European Union will carefully weigh the risks of shale gas development this year but also needs to stem high energy prices, the EU's energy chief says.

Japan April trade deficit hit record $8.57B

Tue, 21 May 2013 23:54:48 -0400

TOKYO, May 21 (UPI) -- Japan posted a record trade deficit of 879.93 billion yen ($8.576 billion) for April as a lower yen pushed import costs higher, the government said Wednesday.

Argentine beef trade decimated by policy shifts

Tue, 21 May 2013 18:10:55 -0400

BUENOS AIRES, May 21 (UPI) -- To the joy of neighboring rivals, Argentina's beef exports are dwindling and traders blame government policies.

Crude oil slips under $96

Tue, 21 May 2013 17:59:06 -0400

NEW YORK, May 21 (UPI) -- Crude oil prices fell back to less than $96 in New York Tuesday despite the prolonged rally in equities.

Dow Jones industrial average posts 22nd high of the year

Tue, 21 May 2013 17:54:16 -0400

NEW YORK, May 21 (UPI) -- Investors took to heart speeches by two regional U.S. Federal Reserve presidents and sent the Dow Jones industrial average to its 22nd high of the year Tuesday.

Unspent billions of Chilean defense fund remain a mystery

Tue, 21 May 2013 16:39:07 -0400

SANTIAGO, Chile, May 21 (UPI) -- More than $4 billion of cash reserved for Chilean military procurement remains unspent because of mysterious workings of funding arrangements.

Oman to buy $2.1B Raytheon missile system

Tue, 21 May 2013 16:03:53 -0400

MUSCAT, Oman, May 21 (UPI) -- The Persian Gulf sultanate of Oman is set to buy a $2.1 billion missile system built by the U.S. Raytheon Co. as part of a U.S. drive to install a coordinated air-defense system linking the region's Arab monarchies to counter Iran.

Ukraine destroys Soviet-era missiles

Tue, 21 May 2013 15:37:40 -0400

KIEV, Ukraine, May 21 (UPI) -- A rocket engine airframe disposal facility was opened in Ukraine Tuesday to destroy RS-22 (SS-24) missile components under the Strategic Arms Reduction Treaty.

Australia advises on avoiding 'resource curse'

Tue, 21 May 2013 15:06:40 -0400

SYDNEY, May 21 (UPI) -- If resource-rich developing countries can avoid the "resource curse," they could reduce their dependency on aid, said an Australian government official.

CEO Marchionne apologizes for ethnic slur

Tue, 21 May 2013 14:54:57 -0400

DETROIT, May 21 (UPI) -- A group representing Italian-Americans said an apology from the head of Chrysler and Fiat for use of a derogatory term was "heartfelt."

Northrop tapped for laser development

Tue, 21 May 2013 14:40:45 -0400

REDONDO BEACH, Calif., May 21 (UPI) -- Northrop Grumman has been picked by the U.S. Navy in the first development phase of a prototype laser weapon system.

Top listing of the week: $190 million, it's yours

Tue, 21 May 2013 13:31:02 -0400

GREENWICH, Conn., May 21 (UPI) -- The top listing among U.S. properties this week is a 12-bedroom colossus in Connecticut priced at $190 million, Realtor.com said.

Netherlands seeks continued F-16 training

Tue, 21 May 2013 12:40:10 -0400

WASHINGTON, May 21 (UPI) -- The Netherlands is seeking to continue training its F-16 pilots in the United States through a $191 million Foreign Military Sales arrangement.

Dimon, JPMorgan board members, survive vote -- some just barely

Tue, 21 May 2013 12:36:48 -0400

TAMPA, Fla., May 21 (UPI) -- The chairman and chief executive officer at U.S. financial giant JPMorgan Chase survived a shareholder vote to have his job split in two, vote tallies show.

Britain replenishing Hellfire inventory

Tue, 21 May 2013 12:25:04 -0400

LONDON, May 21 (UPI) -- Britain's Ministry of Defense has announced the signing of a $22.8 million contract for Hellfire missiles used by its Apache helicopters.

Rajat Gupta's lawyers contest conviction

Tue, 21 May 2013 12:09:31 -0400

NEW YORK, May 21 (UPI) -- Lawyers for former Goldman Sachs Group Inc. director Rajat Gupta are arguing in New York his insider trading conviction should be overturned.

BlackRock to buy investment firm MGPA

Tue, 21 May 2013 12:00:52 -0400

NEW YORK, May 21 (UPI) -- BlackRock Inc. said Tuesday it would purchase MGPA, an investment group with significant real estate assets in Asia and Europe.

Doosan DST finishes armored vehicle build

Tue, 21 May 2013 11:53:29 -0400

SEOUL, May 21 (UPI) -- South Korea's Doosan DST announced completion of production of an armored combat vehicle for the Indonesian Army.

Army orders more NVGs

Tue, 21 May 2013 11:50:01 -0400

ROANOKE, Va., May 21 (UPI) -- ITT Exelis has received a $48 million follow-on order from the U.S. Army for enhanced night vision goggles.