Business News

NEW YORK, Dec. 31 (UPI) -- Crude oil prices soared Wednesday on the New York Mercantile Exchange, although prices closed more than $50 below levels that closed out 2007.

CHICAGO, Dec. 31 (UPI) -- Grains closed sharply higher on the Chicago Board of Trade Wednesday, in line with an upbeat day on Wall Street.

NEW YORK, Dec. 31 (UPI) -- Cooperating with authorities could keep New York trader Bernard Madoff from dying in prison if he is convicted in a massive fraud case, an attorney said.

SHANGHAI, Dec. 31 (UPI) -- U.S. software giant Microsoft said convictions announced in China Wednesday involved a software counterfeit ring with global sales of more than $2 billion.

NEW YORK, Dec. 31 (UPI) -- U.S. stock indexes closed out a wild year on a positive note Wednesday with a final and light trading day.

KIEV, Ukraine, Dec. 31 (UPI) -- Ukraine's energy concern Naftogaz said without a new contract it would confiscate Russian Gazprom natural gas intended for European customers.

ROUND ROCK, Texas, Dec. 31 (UPI) -- U.S. computer giant Dell said Wednesday two top executives were departing as it reshaped the company to reflect how customers use computers.

PHILADELPHIA, Dec. 31 (UPI) -- Pennsylvania plastic container company Constar International Inc. said it filed for Chapter 11 bankruptcy protection to implement a debt-for-equity swap.

NEW YORK, Dec. 31 (UPI) -- A Snapple contract to supply New York City's municipal buildings with cold drinks is ending early due to slow sales, sources said.

WASHINGTON, Dec. 31 (UPI) -- President-elect Barack Obama's economic stimulus plan could include a permanent tax cut, senior adviser David Axelrod said.

NEW YORK, Dec. 31 (UPI) -- Market analysts expect a slow recovery in U.S. stock indexes in 2009 with more volatility ahead, especially for the first half of the year.

U.S. markets gain ... Stimulus bill on track, aide says ... In tight economy people stay put ... Year to end on a frugal note ... News from United Press International.

NEW YORK, Dec. 31 (UPI) -- Moving vans logged fewer miles this year as the tighter U.S. economy means fewer people are pulling up roots to move to new homes, company officials said.

WASHINGTON, Dec. 31 (UPI) -- The volume of applications for U.S. mortgages was essentially unchanged last week, the Mortgage Bankers Association said.

WASHINGTON, Dec. 31 (UPI) -- First-time claims for U.S. unemployment insurance fell sharply during the week ending Dec. 27, the U.S. Department of Labor reported Wednesday.