Business News - UPI.com

Bank of Japan to loan $13 billion

Thu, 08 Jan 2009 02:07:33 -0500

TOKYO, Jan. 8 (UPI) -- Japan's financial institutions are being offered $13 billion in emergency loans from the Bank of Japan, the central bank said Thursday.

2 charged in alleged $15M fraud scheme

Wed, 07 Jan 2009 21:00:30 -0500

CHICAGO, Jan. 7 (UPI) -- Two executives with a currency trading firm have been arrested on charges they ran a $15 million Ponzi-like scheme, authorities in Chicago said Wednesday.

Vought gives striking workers ultimatum

Wed, 07 Jan 2009 20:35:04 -0500

NASHVILLE, Jan. 7 (UPI) -- Hundreds of striking Vought Aircraft Industries employees in Tennessee have been given an ultimatum: Return to work or lose their jobs to replacement workers.

MGM cancels 200 condo units in Vegas

Wed, 07 Jan 2009 20:15:21 -0500

LAS VEGAS, Jan. 7 (UPI) -- MGM Mirage said Wednesday it has canceled construction of 200 condominiums at its CityCenter development in Las Vegas, saving $600 million.

U.S. red ink to reach $1.2 trillion

Wed, 07 Jan 2009 20:05:51 -0500

WASHINGTON, Jan. 7 (UPI) -- The Congressional Budget Office said Wednesday the U.S. budget deficit will approach $1.2 trillion this year, not counting further economic stimulus efforts.

Crude oil prices slip Wednesday

Wed, 07 Jan 2009 18:36:36 -0500

NEW YORK, Jan. 7 (UPI) -- Crude oil prices fell sharply on the New York Mercantile Exchange Wednesday, as weak economies continue to point to falling demand.

Grains sharply lower in Chicago Wednesday

Wed, 07 Jan 2009 18:19:41 -0500

CHICAGO, Jan. 7 (UPI) -- Grains closed sharply lower on the Chicago Board of Trade Wednesday, following along with a steep decline in crude oil prices.

UPI NewsTrack Business

Wed, 07 Jan 2009 17:48:02 -0500

U.S. markets fall hard on job news ... Paulson says GSEs need a new structure ... Walt Disney World settles 5-year-old suit ... Motorola to introduce eco-friendly phone ... News from United Press International.

Economy replaces fuel as airline concern

Wed, 07 Jan 2009 17:47:03 -0500

DALLAS, Jan. 7 (UPI) -- Industry analysts said U.S. airlines may need to make further cuts in their schedules in 2009 with the economy now eclipsing concerns of rising fuel costs.

U.S. markets fall hard on job news

Wed, 07 Jan 2009 17:32:43 -0500

NEW YORK, Jan. 7 (UPI) -- U.S. stocks indexes were sharply lower Wednesday with employment concerns pointing to further erosion in the economy.

Paulson says GSEs need a new structure

Wed, 07 Jan 2009 17:13:49 -0500

WASHINGTON, Jan. 7 (UPI) -- U.S. Treasury Secretary Henry Paulson Jr. Wednesday called for restructured models for the nation's largest mortgage brokers.

Walt Disney World settles 5-year-old suit

Wed, 07 Jan 2009 15:41:36 -0500

ORLANDO, Fla., Jan. 7 (UPI) -- Walt Disney World has settled a prolonged legal battle with a Pennsylvania company that designed one of its more controversial rides, officials said.

Hyundai offers buyers layoff protection

Wed, 07 Jan 2009 15:31:58 -0500

FOUNTAIN VALLEY, Calif., Jan. 7 (UPI) -- Hyundai Motor America said U.S. customers who buy new cars, then lose their jobs within a year of purchase can return the vehicle -- as simple as that.

Motorola to introduce eco-friendly phone

Wed, 07 Jan 2009 14:57:10 -0500

SCHAUMBURG, Ill., Jan. 7 (UPI) -- U.S. technology giant Motorola Inc. said it would introduce an eco-friendly mobile phone at the Consumer Electronics Show in Las Vegas.

Investor lawsuits rose in 2008

Wed, 07 Jan 2009 14:44:41 -0500

NEW YORK, Jan. 7 (UPI) -- The financial downturn and problems related to the subprime mortgage meltdown have triggered a wave of class action lawsuits, U.S. researchers said.

British retailers face dismal prospects

Wed, 07 Jan 2009 14:38:07 -0500

LONDON, Jan. 7 (UPI) -- Retail closings in Britain could hit a record in 2009 as the credit crisis continues to crimp consumer spending, a research group said Wednesday.

South Korea running 'high' recession risk

Wed, 07 Jan 2009 14:35:26 -0500

SEOUL, Jan. 7 (UPI) -- The Korea Development Institute said Wednesday that South Korea's risk of running into a recession is "high" due to declines in spending and exports.

Marks & Spencer to lay off 1,230

Wed, 07 Jan 2009 14:29:33 -0500

LONDON, Jan. 7 (UPI) -- British retailer Marks & Spencer said it would trim 1,230 jobs and close 25 Simply Food outlets after posting declining sales for its holiday shopping season.

Media workers halt strike in South Korea

Wed, 07 Jan 2009 14:03:28 -0500

SEOUL, Jan. 7 (UPI) -- A media workers' union in South Korea halted its strike Wednesday while the passage of a law allowing new firms to own television networks was put on hold.

Journalists say unrest could rise in China

Wed, 07 Jan 2009 12:49:51 -0500

BEIJING, Jan. 7 (UPI) -- Three Chinese journalists warned social conflicts could arise from the global economic downturn and China's faltering expansion.

Satyam chairman confesses, then resigns

Wed, 07 Jan 2009 12:15:08 -0500

NEW DELHI, Jan. 7 (UPI) -- The chairman of a leading Indian technology company resigned after admitting $1.04 billion reflected on the company's books in September did not exist.

UPI NewsTrack Business

Wed, 07 Jan 2009 11:27:52 -0500

U.S. markets tumble Wednesday ... Month of job losses hits 693,000 ... Canadian poll: Gloom, but growth in 2009 ... Russia, Ukraine trade blame on gas dispute ... News from United Press International.

Month of job losses hits 693,000

Wed, 07 Jan 2009 10:42:26 -0500

ROSELAND, N.J., Jan. 7 (UPI) -- The U.S. shed 693,000 non-farm jobs November to December, a research group said Wednesday.

Mortgage volume down in week

Wed, 07 Jan 2009 10:16:29 -0500

WASHINGTON, Jan. 7 (UPI) -- The volume of applications for U.S. mortgages decreased last week, falling by a seasonally adjusted 8.2 percent, an industry group said.

Job cuts hit record for December

Wed, 07 Jan 2009 09:48:14 -0500

CHICAGO, Jan. 7 (UPI) -- A record number of U.S. job cut announcements in December put the year's total 59 percent higher than 2007, a private research firm said Wednesday.