Business News - UPI.com

Oman to buy $2.1B Raytheon missile system

Tue, 21 May 2013 16:03:53 -0400

MUSCAT, Oman, May 21 (UPI) -- The Persian Gulf sultanate of Oman is set to buy a $2.1 billion missile system built by the U.S. Raytheon Co. as part of a U.S. drive to install a coordinated air-defense system linking the region's Arab monarchies to counter Iran.

Ukraine destroys Soviet-era missiles

Tue, 21 May 2013 15:37:40 -0400

KIEV, Ukraine, May 21 (UPI) -- A rocket engine airframe disposal facility was opened in Ukraine Tuesday to destroy RS-22 (SS-24) missile components under the Strategic Arms Reduction Treaty.

Australia advises on avoiding 'resource curse'

Tue, 21 May 2013 15:06:40 -0400

SYDNEY, May 21 (UPI) -- If resource-rich developing countries can avoid the "resource curse," they could reduce their dependency on aid, said an Australian government official.

CEO Marchionne apologizes for ethnic slur

Tue, 21 May 2013 14:54:57 -0400

DETROIT, May 21 (UPI) -- A group representing Italian-Americans said an apology from the head of Chrysler and Fiat for use of a derogatory term was "heartfelt."

Northrop tapped for laser development

Tue, 21 May 2013 14:40:45 -0400

REDONDO BEACH, Calif., May 21 (UPI) -- Northrop Grumman has been picked by the U.S. Navy in the first development phase of a prototype laser weapon system.

Top listing of the week: $190 million, it's yours

Tue, 21 May 2013 13:31:02 -0400

GREENWICH, Conn., May 21 (UPI) -- The top listing among U.S. properties this week is a 12-bedroom colossus in Connecticut priced at $190 million, Realtor.com said.

Netherlands seeks continued F-16 training

Tue, 21 May 2013 12:40:10 -0400

WASHINGTON, May 21 (UPI) -- The Netherlands is seeking to continue training its F-16 pilots in the United States through a $191 million Foreign Military Sales arrangement.

Dimon, JPMorgan board members, survive vote -- some just barely

Tue, 21 May 2013 12:36:48 -0400

TAMPA, Fla., May 21 (UPI) -- The chairman and chief executive officer at U.S. financial giant JPMorgan Chase survived a shareholder vote to have his job split in two, vote tallies show.

Britain replenishing Hellfire inventory

Tue, 21 May 2013 12:25:04 -0400

LONDON, May 21 (UPI) -- Britain's Ministry of Defense has announced the signing of a $22.8 million contract for Hellfire missiles used by its Apache helicopters.

Rajat Gupta's lawyers contest conviction

Tue, 21 May 2013 12:09:31 -0400

NEW YORK, May 21 (UPI) -- Lawyers for former Goldman Sachs Group Inc. director Rajat Gupta are arguing in New York his insider trading conviction should be overturned.

BlackRock to buy investment firm MGPA

Tue, 21 May 2013 12:00:52 -0400

NEW YORK, May 21 (UPI) -- BlackRock Inc. said Tuesday it would purchase MGPA, an investment group with significant real estate assets in Asia and Europe.

Doosan DST finishes armored vehicle build

Tue, 21 May 2013 11:53:29 -0400

SEOUL, May 21 (UPI) -- South Korea's Doosan DST announced completion of production of an armored combat vehicle for the Indonesian Army.

Army orders more NVGs

Tue, 21 May 2013 11:50:01 -0400

ROANOKE, Va., May 21 (UPI) -- ITT Exelis has received a $48 million follow-on order from the U.S. Army for enhanced night vision goggles.

Growth seen for Israel's UAV exports

Tue, 21 May 2013 10:19:46 -0400

LONDON, May 21 (UPI) -- Israel's unmanned aerial vehicle manufacturers are the world's top UAV exporters, garnering $4.62 billion from 2005-12.

Former Saab CEO arrested in Sweden

Tue, 21 May 2013 09:30:51 -0400

STOCKHOLM, Sweden, May 21 (UPI) -- Police in Sweden said they have arrested former Saab Automobile chief executive officer Jan Ake Jonsson on suspicion of concealing funds from tax authorities.

Canadian UAS development gets government funding

Tue, 21 May 2013 09:28:11 -0400

ALMA, Quebec, May 21 (UPI) -- The government of Canada is helping fund the development of a center of excellence for unmanned aerial systems in the province of Quebec.

Rate of inflation slows in Britain

Tue, 21 May 2013 08:24:49 -0400

LONDON, May 21 (UPI) -- The Office for National Statistics in Britain said the annual inflation rate, helped by lower transportation costs, dropped from March to April to 2.4 percent.

Myanmar commits to energy transparency

Tue, 21 May 2013 08:23:51 -0400

WASHINGTON, May 21 (UPI) -- The U.S. government said it was committed to helping Myanmar improve transparency in the management of its natural resources.

Crude oil tops $96

Tue, 21 May 2013 08:00:10 -0400

NEW YORK, May 21 (UPI) -- Crude oil prices topped $96 in New York Tuesday morning with prices buoyed by a prolonged rally in equities.

Nabucco gets European member support

Tue, 21 May 2013 07:58:34 -0400

BUCHAREST, Romania, May 21 (UPI) -- Governments in central and southern Europe issued a joint declaration from Romania expressing support for the planned Nabucco natural gas pipeline.

British poll to weigh EU climate partnership

Tue, 21 May 2013 07:30:51 -0400

LONDON, May 21 (UPI) -- The British government said it wants to know from the public whether EU membership helps or inhibits work on the environment and climate change.

Outrage over 2010 BP spill charge dismissal

Tue, 21 May 2013 07:17:48 -0400

WASHINGTON, May 21 (UPI) -- A member of Congress who led an investigation into the BP oil spill in 2010 expressed outrage that a judge threw out a charge against a former BP executive.

U.S. groundwater running dry

Tue, 21 May 2013 07:03:47 -0400

WASHINGTON, May 21 (UPI) -- The depletion of groundwater from one of the largest aquifers in the United States since 2001 was faster than during the entire 20th century, the USGS finds.

Oil production starts offshore Australia

Tue, 21 May 2013 06:14:20 -0400

SYDNEY, May 21 (UPI) -- Australian energy company Santos said it expects to produce 15,000 barrels of oil per day from its Fletcher Finucane project offshore Western Australia.

More oil pipeline capacity planned for Texas

Tue, 21 May 2013 06:06:43 -0400

HOUSTON, May 21 (UPI) -- A 95-mile pipeline extension from western Oklahoma and the Texas panhandle will carry as much as 75,000 barrels of oil per day, a pipeline company said.