UPI NewsTrack Business WASHINGTON, May 8 (UPI) -- U.S. markets bounce up Thursday morning ... Bank of England lets lending rate stand ... BA executive humble on terminal problems ... Losses cause U.S. shareholders to sue ... News from United Press International.

Drug ads scrutinized by Congress WASHINGTON, May 8 (UPI) -- Drug company television ads have crossed ethical boundaries due to political appointments at the U.S. Food and Drug Administration, a congressman said.

Mortgage rates nearly unchanged in week WASHINGTON, May 8 (UPI) -- Interest rates for 30-year, fixed-rate mortgages declined in the United States in the last week, the Federal Home Loan Mortgage Corp. said Thursday.

Initial U.S. unemployment claims drop WASHINGTON, May 8 (UPI) -- First-time claims for U.S. unemployment insurance declined during the week ending May 3, the U.S. Department of Labor reported Thursday.

BA executive humble on terminal problems LONDON, May 8 (UPI) -- British Airways Chief Executive Officer Willie Walsh told a British transportation committee that problems at a new terminal were his responsibility.

Losses cause U.S. shareholders to sue WASHINGTON, May 8 (UPI) -- Shareholders in a rash of U.S. lawsuits claim they were duped by financial firms that have had share values drop on subprime mortgage losses, a source said.

Ford urges family unity in Kerkorian bid DEARBORN, Mich., May 7 (UPI) -- Ford Motor Co. Executive Chairman Bill Ford Jr. wants family members to unite against a challenge to family control of the company, a Detroit newspaper said.

Wheat lower, corn up in Chicago Wednesday CHICAGO, May 7 (UPI) -- Yield concerns sent wheat lower and corn higher on the Chicago Board of Trade Wednesday.

UPI NewsTrack Business WASHINGTON, May 7 (UPI) -- U.S. markets tumble hard Wednesday ... Luxury real estate meets market realities ... Gates says Internet still a Microsoft goal ... Healthcare costs tip against U.S. firms ... News from United Press International.

Slovakia can join Euro zone in 2009 BRATISLAVA, Slovakia, May 7 (UPI) -- The European Commission Wednesday declared Slovakia's economy is stable enough to adopt the euro as its currency, a commission report said.

U.S. markets tumble hard Wednesday NEW YORK, May 7 (UPI) -- U.S. stock indexes tumbled to the close Wednesday on reports of declines in pending home sales in March and a record price above $123 per barrel for crude oil.

Luxury real estate meets market realities FORT LAUDERDALE, Fla., May 7 (UPI) -- Many U.S. luxury homes are facing the same fate as foreclosed properties, the sometimes painful reality check of the cash auction, Realtors report.

Crude oil closes above $123 per barrel NEW YORK, May 7 (UPI) -- Crude oil prices reached a record of $123.55 per barrel on the New York Mercantile Exchange Wednesday.

Committee hears of mortgage lender abuses WASHINGTON, May 7 (UPI) -- Mortgage companies are frequently mismanaging accounts both inside and outside of U.S. bankruptcy courts, a law professor told an oversight committee.

Gates says Internet still a Microsoft goal TOKYO, May 7 (UPI) -- Software giant Microsoft Corp. has ended its pursuit of Internet search engine Yahoo! Inc., company Chairman Bill Gates said in Tokyo, Japan, Wednesday.

Healthcare costs tip against U.S. firms WASHINGTON, May 7 (UPI) -- Healthcare costs in the United States are rising faster than wages and productivity, an economic policy director said Wednesday.

Crude oil supplies rose during week WASHINGTON, May 7 (UPI) -- Crude oil inventories in the United States rose by 5.7 million barrels for the week ending May 2, a U.S. government agency said.

Pending home sales declined in March WASHINGTON, May 7 (UPI) -- Pending U.S. home sales drifted downward in March and will remain depressed through the spring, the National Association of Realtors said Tuesday.

UPI NewsTrack Business WASHINGTON, May 7 (UPI) -- U.S. markets mixed Wednesday morning ... Goldman Sachs predicts $200 a barrel oil ... Most Canadian grain stocks down in March ... Sprint Nextel close to closing WiMax deal ... News from United Press International.

Dollar's gain against euro calms fears WASHINGTON, May 7 (UPI) -- The U.S. dollar's six-year decline against the euro may have hit a turning point in recent weeks, several economists said.

Goldman Sachs predicts $200 a barrel oil NEW YORK, May 7 (UPI) -- U.S. financial giant Goldman Sachs projects crude oil prices could reach $200 a barrel in the next 24 months, a company document says.

Most Canadian grain stocks down in March OTTAWA, May 7 (UPI) -- Total stocks of major Canadian grains were down at the end of March since a year earlier, with the exception of corn and oats.

U.S. labor costs and productivity edge up WASHINGTON, May 7 (UPI) -- First quarter productivity and labor costs increased in tandem in the United States, with productivity ahead of forecasts and labor costs slightly below.

Sprint Nextel close to closing WiMax deal OVERLAND PARK, Kan., May 7 (UPI) -- U.S. telecommunications giant Sprint Nextel and Internet service Clearwire are close to announcing a joint WiMax venture, sources said Wednesday.

British Columbia freeze zaps orchards VANCOUVER, British Columbia, May 7 (UPI) -- Vast swaths of fruit orchards in southwestern British Columbia's fertile Okanagan Valley have been devastated by an Arctic freeze, growers reported.

New Russian foreign investment laws begin MOSCOW, May 7 (UPI) -- New laws clarifying foreign investments went into effect Wednesday in Russia, the government said.

Grains' rally fades to finish Tuesday CHICAGO, May 6 (UPI) -- Grains rallied early on the Chicago Board of Trade Tuesday, with corn and wheat peaking with new highs at midday, before tailing off by close.

UPI NewsTrack Business WASHINGTON, May 6 (UPI) -- Midday comeback holds in Tuesday markets ... Judges reject huge Parmalat trial concept ... Chrysler promotion locks in gas prices ... Investigator recommends changes for BAE ... News from United Press International.

Midday comeback holds in Tuesday markets NEW YORK, May 6 (UPI) -- A rally from a tail-dragging morning lifted U.S. stock indexes out of the red by the close Tuesday afternoon.

Crude oil closes near $122 per barrel NEW YORK, May 6 (UPI) -- Supply worries and a report on increased global demand pushed the price of crude oil to a record close of $121.85 per barrel in New York Tuesday.

Weil-McLain gas broilers recalled WASHINGTON, May 6 (UPI) -- The U.S. Consumer Product Safety Commission announced a voluntary recall Tuesday of Weil-McLain CGs and CGi gas broilers due to carbon monoxide gas hazard.

Broil King gas grills recalled WASHINGTON, May 6 (UPI) -- The U.S. Consumer Products Safety Commission announced a voluntary recall Tuesday of Broil King gas grills due to fire or burn hazards.

Playworld System swing sets recalled WASHINGTON, May 6 (UPI) -- The U.S. Consumer Product Safety Commission announced a voluntary recall Tuesday of Playground Swing Sets made by Playworld Systems Inc. of Lewisburg, Pa.

Teamsters accuse Vegas local of duplicity LAS VEGAS, May 6 (UPI) -- Teamsters leaders in Las Vegas, Nev., have been turning jobs over to non-union workers at the expense of its own members, several members said Tuesday.

American Airlines to stop Oakland service OAKLAND, Calif., May 6 (UPI) -- American Airlines, citing high fuel costs, announced Tuesday it would stop serving the Oakland, Calif., airport.

Judges reject huge Parmalat trial concept PARMA, Italy, May 6 (UPI) -- Judges in Parma, Italy, ruled Tuesday that three trials involving Parmalat executives should not be incorporated into one trial.

Investigator recommends changes for BAE LONDON, May 6 (UPI) -- An independent investigator in Britain recommended 23 reform measures for BAE Systems, Europe's largest defense contractor, a report issued Tuesday said.

UPI NewsTrack Business WASHINGTON, May 6 (UPI) -- U.S. markets start Tuesday with slide ... Politicians vie for gas tax relief ... Swiss bank UBS to cut 5,500 jobs ... Canadian building permits dip in March ... News from United Press International.

Britain's PMI slowed to crawl in April LONDON, May 6 (UPI) -- The purchasing managers index in Britain slowed to a crawl in April, the Chartered Institute of Purchasing and Supply said Tuesday.

Chrysler promotion locks in gas prices AUBURN HILLS, Mich., May 6 (UPI) -- Chrysler announced it would provide cards that lock in gas prices at $2.99 a gallon for three years for most of its car buyers through June 2.

Cell phone service dealers are falling out NEW YORK, May 6 (UPI) -- U.S. companies that jumped on the cell phone service bandwagon in recent years are struggling and many are going out of business, industry observers said.

Retail sales decline slightly during week WASHINGTON, May 6 (UPI) -- Retail sales in the United States declined slightly on the week ending May 3, the International Council of Shopping Centers-USB reported Tuesday.

Politicians vie for gas tax relief WASHINGTON, May 6 (UPI) -- U.S. presidential hopefuls and lawmakers in several states are calling for suspension of gasoline taxes but it's unclear if such action would benefit drivers.

Heathcare strike in Sweden grows STOCKHOLM, Sweden, May 6 (UPI) -- About 7,000 healthcare professionals in Sweden have walked off the job demanding better pay, a healthcare organization estimated Tuesday.

Swiss bank UBS to cut 5,500 jobs GENEVA, Switzerland, May 6 (UPI) -- Swiss banking giant UBS announced Tuesday it would trim its workforce by 5,500 over the next year after reporting first-quarter losses of $10.9 billion.

Canadian building permits dip in March OTTAWA, May 6 (UPI) -- The total value of building permits in Canada dropped 4.5 percent in March to $5.6 billion, Statistics Canada reported Tuesday.

Two U.S. mortgage giants may be in trouble WASHINGTON, May 6 (UPI) -- Two companies that handled 80 percent of the U.S. mortgage business in the first quarter of 2008 may be in trouble, financial leaders in Washington said.

Indonesia may leave OPEC JAKARTA, May 6 (UPI) -- Indonesia may opt out of the Organization of Petroleum Exporting Countries as the country has become a net oil importer, its president said Tuesday.

Asia worries over food futures trading MADRID, May 6 (UPI) -- India, concerned over the recent jump in commodity prices, may do away with food futures trading.

U.S. spring planting remains slow in 2008 WASHINGTON, Minn., May 5 (UPI) -- Major U.S. corn states have less than half their acres sown compared with their five-year averages, the U.S. Department of Agriculture reported Monday.