Business News

NEW YORK, Dec. 22 (UPI) -- The U.S. Commerce Department said Wednesday the economy expanded during the third quarter at a revised 4.0 percent annual rate as purchases of foreign goods and

WASHINGTON, Dec. 22 (UPI) -- The U.S. Mortgage Bankers Association said Wednesday mortgage applications inched higher during the week ended Friday.

Strong economic news boosts stocks ... U.S. economy stronger in 3Q than thought ... Russia expects 5.8 percent growth in 2005 ... Putin says he knows who bought Yukos .. EU upholds antitrust against Microsoft ... News from United Press International.

SANTA BARBARA, Calif., Dec. 22 (UPI) -- Fastclick Inc. of Santa Barbara, Calif., filed an initial public offering Wednesday to sell up to $92 million in common stock.

INDIANAPOLIS, Dec. 22 (UPI) -- An Indianapolis bankruptcy judge has OK'd a $117 million deal between Southwest Airlines and ailing ATA Airlines, the Indianapolis Star reported Wednesday.

WASHINGTON, Dec. 22 (UPI) -- The U.S. gross domestic product increased at an annual rate of 4 percent in the third quarter of 2004, slightly higher than economists had expected.

BRUSSELS, Dec. 22 (UPI) -- The European Union cut members' fishing quotas Wednesday rather than close some fishing areas as EU administrators had proposed, and environmentalists wanted.

JAKARTA, Dec. 22 (UPI) -- Newmont Mining of Denver, the world's biggest gold producer, knew three years ago that it was putting tons of toxic mercury vapors into Indonesia's air.

MOSCOW, Dec. 22 (UPI) -- Russia's poverty level should be reduced to 5 percent by 2015, Economic Development and Trade Minister German Gref said Wednesday.

MOSCOW, Dec. 22 (UPI) -- Russia still hopes to double its gross domestic product in the next decade, Prime Minister Mikhail Fradkov said Wednesday.

MOSCOW, Dec. 22 (UPI) -- The Russian economy is expected to grow 5.8 percent next year, Economic Development and Trade Minister German Gref said Wednesday.

NEW YORK, Dec. 22 (UPI) -- Investors this year rewarded companies that grew by acquisitions, in one case boosting the buyer's share price by more than 50 percent.

TOKYO, Dec. 22 (UPI) -- Japanese authorities have indicted the former vice president of a major bank for allegedly misleading regulators.

MOSCOW, Dec. 22 (UPI) -- The owners of Russia's biggest steel mill are believed to have bought $790 million of their own shares, Interfax news agency said Wednesday.

MOSCOW, Dec. 22 (UPI) -- Russia's five core economic sectors increased output by 6.6 percent in the first 11 months of this year, Interfax news agency said Wednesday.