Business News

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.

CHICAGO, Dec. 30 (UPI) -- Grains closed mostly higher on the Chicago Board of Trade Tuesday as traders said selling and end-of-the-year news were both light.

SEATTLE, Dec. 31 (UPI) -- The seemingly simple business of importing honey has become so rife with international intrigue that one U.S. broker said he was leaving the business.

NEW YORK, Dec. 30 (UPI) -- U.S. markets rose Tuesday after the Treasury said it would supply $6 billion for struggling automotive financial firm GMAC.

LONDON, Dec. 30 (UPI) -- Trustees of Britain's HBOS bank's pension fund said they are considering a legal challenge to the bank's merger with Lloyds TSB to protect their pension plan.

MOSCOW, Dec. 30 (UPI) -- Russian and U.S. officials said a new poultry and pork trade agreement cuts the quota for U.S. poultry exported to Russia and raises some import duties.

KIEV, Ukraine, Dec. 30 (UPI) -- A billing dispute between Russia's natural gas giant Gazprom and the Ukraine government could turn into a winter delivery problem for Europe, the company said.

BRATISLAVA, Slovakia, Dec. 30 (UPI) -- The first Central European state to adopt the euro, Slovakia, is poised to officially join the Eurozone Thursday, officials said.

WASHINGTON, Dec. 30 (UPI) -- The home prices index for 20 U.S. metropolitan regions dropped for the 27th consecutive month in October, a closely watched housing index said.