Business News

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.

MOUSTACHE ISLAND, Iraq, Dec. 31 (UPI) -- On Moustache Island, on the Tigris River, close to the Iraqi capital of Baghdad, American soldiers slowly worked their way through the groves and orchards, map grid by map grid, pulling apart piles of fallen branches and palm fronds, digging through dung piles used for fertilizer and checking large holes or mounds of dirt in a recent operation.

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.

ADELAIDE, Australia, Dec. 31 (UPI) -- After completing approval requirements, BAE Systems has officially acquired Australia-based defense supplies management company Tenix Toll Defense Logistics.

WASHINGTON, Dec. 31 (UPI) -- Russia is testing a new missile for its formidable S-400 Triumf air defense system that, if it performs according to its claimed specifications, is the most formidable long-range anti-aircraft and anti-missile defense system in the world.

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.

NEW YORK, Dec. 31 (UPI) -- Ringing in the new year is expected to be toned down this year, as revelers adjust to the downturn in the U.S. economy, observers said.

WASHINGTON, Dec. 31 (UPI) -- A senior aide to President-elect Barack Obama said escalating turmoil in the Middle East wouldn't derail a new U.S. economic stimulus bill.

TOKYO, Dec. 31 (UPI) -- Japan's 225-stock Nikkei index, the key Asian market barometer, ended 2008 down about 42 percent but recovery hopes remain high for next year.

PARIS, Dec. 30 (UPI) -- Foreign ministers from the European Union called for a 48-hour cease-fire in Gaza following a meeting Tuesday evening in Paris.

NEW YORK, Dec. 30 (UPI) -- Crude oil prices fell slightly Tuesday on the New York Mercantile Exchange, as faltering economies continue pointing to slower demand.

ROME, Dec. 30 (UPI) -- The group that purchased collapsed Italian airline Alitalia said it had adopted the defunct airline's name, uniform and logo Tuesday.

U.S. stocks rally Tuesday ... Gazprom warns Europe of delivery problem ... Slovakia poised to join Eurozone ... Honey importing becomes 'nasty' ... News from United Press International.