Business News

NEW YORK, Dec. 12 (UPI) -- A disappointing earnings report from Best Buy and a downbeat outlook from Texas Instruments weighed on U.S. stocks Tuesday.

LONDON, Dec. 12 (UPI) -- Inflation in Britain has soared to its highest level in more than a decade, the Daily Telegraph reported Tuesday.

WASHINGTON, Dec. 12 (UPI) -- The U.S. Federal Reserve decided Tuesday to leave a key interest rate at 5.25 percent, as was widely expected, but hinted at future rate hikes.

SALT LAKE CITY, Dec. 12 (UPI) -- Liberty Mountain of Salt Lake City said Tuesday it is recalling about 5,900 of its Edelweiss Challenge climbing harnesses.

NEW YORK, Dec. 12 (UPI) -- Energy prices on the New York Mercantile Exchange were steady Tuesday but high-quality crude oil fell 20 cents to close at $61.02 per barrel.

COLLEGE PARK, Md., Dec. 12 (UPI) -- The U.S. trade deficit with China hit $24.4 billion in October, up $18.9 billion since December 2001 and the result of an undervalued yuan, an economist said.

ST. LOUIS, Dec. 12 (UPI) -- Air Comfort Products Division of Emerson Electric Co., St. Louis, is recalling about 4,000 of its 60-inch ceiling fans.

MOSCOW, Dec. 12 (UPI) -- The foreign production arm of Russia's LUKoil energy group is selling a half stake in a Kazakhstan oil company for about $980 million.

JACKSONVILLE, Fla., Dec. 12 (UPI) -- Trailer Bridge Inc. has won an award to be the exclusive carrier to Puerto Rico for all new Ford Motor Co. vehicles.

CHICAGO, Dec. 12 (UPI) -- Guggenheim Aviation Partners LLC, a U.S. investment firm, has ordered three Boeing Co. 777 air freighters with an option for another one.

FORT WORTH, Texas, Dec. 12 (UPI) -- General Electric Pension Trust and Crescent Real Estate Equities Co. have sold a co-owned Houston property for $87.3 million.

SANFORD, N.C., Dec. 12 (UPI) -- The Pantry Inc. said Tuesday it is purchasing 24 Sun Stop convenience stores in the southeastern United States.

STAMFORD, Conn., Dec. 12 (UPI) -- Connecticut's Olympus Partners said Tuesday it was paying $295.5 million for WII Components Inc., which makes doors as well as kitchen and bath components.

MARIETTA, Ga., Dec. 12 (UPI) -- The U.S. military has awarded Lockheed Martin Corp. an initial $128 million from a $256.2 million contract for four aircraft.

WASHINGTON, Dec. 12 (UPI) -- Cold, dry weather covered most U.S. farmlands last week, the U.S. Agriculture Department said Tuesday.