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U.S. markets recover from steep losses
DETROIT, Dec. 1 (UPI) -- Ford Motor Co. said it was reviewing its position on Swedish car company Volvo Car Corp., which it purchased in 1999.
As the Ford struggles with declining sales, it may end up selling Volvo, the Detroit Free Press reported Monday.
"Given the unprecedented external challenges facing Ford and the entire industry, it is prudent for Ford to evaluate options for Volvo as we implement our ONE Ford plan," Ford President Alan Mulally said.
"Volvo is a strong global brand with a proud heritage of safety and environmental responsibility and has launched an aggressive plan to right-size its operations and improve its financial results," Mulally said.
"As we conduct this review, we are committed to making the best decision for both Ford and Volvo going forward."
The review would likely take several months, the newspaper said.
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ERBIL, Iraq, May 24 (UPI) --
Plans for Iraq's semiautonomous Kurdish enclave to build an oil pipeline to Turkey points to a major political and economic realignment in the Middle East that will impact heavily on Iraq.
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SEATTLE, May 24 (UPI) --
The flight decks and avionics of the U.S. and NATO Airborne Warning and Control System aircraft fleet will be modernized under a $368 million Boeing contract.
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First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
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It is a whole new ball of wax in Europe these days.
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