Business News

U.S. stocks trend down at midday ... Home sales rise slightly in November ... Champagne prices to bubble up in '08 ... Trading flat in Aussie shares ... News from United Press International.

WASHINGTON, Dec. 31 (UPI) -- Existing-home sales rose slightly in November, indicating the U.S. housing market is stabilizing slightly, the National Association of Realtors said Monday.

SCARSDALE, N.Y., Dec. 31 (UPI) -- People wanting to taste the good life, such as sipping pricey Champagne, might to do so now as U.S. analysts say luxury items will cost more in 2008.

WASHINGTON, Dec. 31 (UPI) -- The crisis afflicting the U.S. Air Force's F-15 domestic defense fleet is far wider, more serious and more deeply rooted than the American public seems to realize. It is rooted in more than 15 years of systematic neglect of U.S. air power by Republicans and Democrats alike.

MOSCOW, Dec. 31 (UPI) -- An anti-missile shield, or America's ambition to establish one in Europe, has become the event of the year in security and strategic terms. The most discussed subject in Russia has been an adequate but asymmetrical response.

SYDNEY, Dec. 31 (UPI) -- The Australian share market ended 2007 in negative territory after a flat day of trading ahead of the New Year holiday.

NEW YORK, Dec. 30 (UPI) -- Technical problems forced operators of the Webkinz Web site to shut it down for more than 24 hours, disappointing children who got Webkinz toys for Christmas.

CANBERRA, Australia, Dec. 29 (UPI) -- Australians who have run up credit card bills they are unable to repay may face the loss of their homes, a consumer advocacy group says.

MOSCOW, Dec. 29 (UPI) -- Inflation in Russia is expected to reach 12 percent by the end of 2007, Russian Finance Minister Alexei Kudrin said Saturday.

CUPERTINO, Calif., Dec. 29 (UPI) -- A series of patents by the U.S. computer giant Apple Inc. has led to speculation about new technology that may soon become available.

DULLES, Va., Dec. 29 (UPI) -- American Online announced it will no longer support its Netscape Internet browser as of Feb. 1, citing a declining share of the browser market.

ROME, Dec. 29 (UPI) -- The Italian cabinet has approved negotiations aimed at Air France-KLM acquiring the government's controlling stake in struggling Alitalia.

BEIJING, Dec. 29 (UPI) -- China's yuan rose sharply against the U.S. dollar adding weight to rumors China would bow to international pressure and allow the currency to appreciate.

Liquidators move into busy season ... British housing market weakens ... Chicago gives Trump hotel the go-ahead ... Former Sears chairman Brennan dies ... News from United Press International.

WASHINGTON, Dec. 29 (UPI) -- Liquidators nationwide already are reselling the millions of dollars in gifts returned after each holiday.