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Norwegian field 'milestone' for BP

The start of production at the Skarv field in the Norwegian Sea marks the beginning of important regional activity for BP, a BP managing director said.

Statoil confirms new reserves in North Sea

The latest appraisal well in the Johan Sverdrup discovery off the southern Norwegian coast proved new hydrocarbon volumes, said Statoil.

Electric Boat to design new subs

The U.S. Department of Defense reports that General Dynamic's Electric Boat Corp. is being awarded a contract for a new class of ballistic missile submarine.

Seoul requests U.S. sale of Global Hawks

South Korea is looking to buy four RQ-4 Block 30 (I) Global Hawks from the United States through the Foreign Military Sales program.

Belgium receives first NH90

NHIndustries of France recently delivered the first of eight twin-engine NH90 tactical transport helicopters ordered by Belgium.

Typhoon, Hawk jets for Oman

The Sultanate of Oman has ordered 12 Eurofighter Typhoons and eight BAE 8 Hawk jet trainers in a deal worth more than $4 billion.

AgustaWestland orders Saab systems

Saab of Sweden has received a $15.3 million order from AgustaWestland Ltd. for helicopter self-protection and electronic intelligence systems.

New Air Force contract for Harris Corp.

An $85 million indefinite-delivery/indefinite-quantity contract has been given to the Harris Corp. by the U.S. Air Force for manpack tactical radios.

Mediaware delivers video analysis systems

General Dynamics Mediaware has delivered two D-VEX video surveillance analysis systems to the Australian army for use with drones.

UPI NewsTrack Business

Dow climbs 2.3 percent, S&P up 2.5 percent ... 'Field of Dreams' movie site sold ... Government clamping down on settlements ... Goldman Sachs pays ahead of new tax punch ... News from United Press International.
Goldman Sachs pays ahead of new tax punch

Goldman Sachs pays ahead of new tax punch

Goldman Sachs Group said it handed out shares to executives in December, dodging a tax hike in the process, The Wall Street Journal reported.

Oil prices climb with budget deal

Crude oil prices hovered near $93 per barrel Wednesday in New York, energy prices jumping in reaction to a tax deal announced in Washington.

Gold climbs Wednesday

Gold and silver made strong gains Wednesday after lawmakers in Washington said they had agreed on a tax bill that would avert the so-called fiscal cliff.

Dow climbs 2.3 percent, S&P up 2.5 percent

The first stock market session of 2013 began with a positive reaction to a new U.S. tax law that ended concern about a recession triggered by budget gridlock.

Grains lower in Chicago

Grain futures closed lower in Chicago Wednesday with the dollar index starting the day down, then closing slightly higher, up 0.09 percent.
'Field of Dreams' movie site sold

'Field of Dreams' movie site sold

Investors have completed the purchase of the Iowa baseball field from the movie "Field of Dreams" and say they plan to add 24 more ball fields to the facility.

Government clamping down on settlements

Federal agencies have begun to pay more attention to punitive settlements with corporations to ensure they are not used as U.S. tax write-offs, a study says.

WPP expands digital market in S. America

Latin America's growing potential as a homeland security and telecommunication market is to be explored as telecoms group WPP positions itself for market expansion in South America.

Lebanon opens bidding for East Med gas

As many as 40 international oil companies are expected to bid for offshore natural gas exploration blocks in Lebanon's sector of the eastern Mediterranean that lies north of major deepwater gas fields in Israeli waters.

New nuclear reactors for Japan?

Japan's new Prime Minister, Shinzo Abe, has indicated he would approve the construction of more nuclear reactors.

UPI NewsTrack Business

Markets jump out of the gate to start 2013 ... Manufacturing ends 2012 on strong note ... Avis to buy Zipcar for $500 million ... ArcelorMittal sells slice of Canadian unit ... News from United Press International.

Auto sales powered 2012 recovery

An economic analysis concluded that growth in the U.S. economy in 2012 was largely driven by automobile sales.

ArcelorMittal sells slice of Canadian unit

Steel making giant ArcelorMittal said it had agreed to sell 15 percent of ArcelorMittal Mines Canada to a largely Asian consortium for $1.1 billion.
Avis to buy Zipcar for $500 million

Avis to buy Zipcar for $500 million

U.S. car rental firm Avis Budget Group said it has agreed to purchase Zipcar for $500 million, expanding its offerings to hourly rentals.

Manufacturing ends 2012 on strong note

An index of U.S. manufacturing activity reached a seven-month high in the final month of 2012, a research firm said Wednesday.
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