Dalje.com - Economy (English)

Grains close mixed Friday

Sat, 11 Feb 2012 01:00:00 +0200

CHICAGO, Feb. 10 (UPI) -- Grains futures on the Chicago Board of Trade closed mixed Friday with soybeans slightly higher, corn and wheat lower and oats flat. Corn was off 5 1/4 to off 8 1/2, soybeans were up 1 1/4 to up 1 3/4, wheat was off 16 to off...

Seoul's final bid to win $1B Israeli deal

Sat, 11 Feb 2012 01:00:00 +0200

TEL AVIV, Israel, Feb. 10 (UPI) -- Seoul has made a last-ditch attempt to secure for Korea Aerospace Industries a $1 billion contract to supply the Israeli air force with advanced training aircraft after a fiercely fought contest with Italy's Alenia...

Army displays hybrid vehicle

Sat, 11 Feb 2012 01:00:00 +0200

IRVINE, Calif., Feb. 10 (UPI) -- The U.S. Army is displaying hybrid electric vehicles by Quantum Fuel Systems Technologies Worldwide at the Chicago Auto Show. The display by the Army's Tank Automotive Research, Development and Engineering Center will...

Gold slides Friday, down for the week

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 10 (UPI) -- The price of gold dropped $19.60 an ounce in New York Friday, putting prices in negative territory for the week. On the Comex division of the New York Mercantile Exchange, gold dropped to $1,721.80, down from the week's starting...

U.S., Israel Test Arrow Block 4 missile

Sat, 11 Feb 2012 01:00:00 +0200

ARLINGTON, Va., Feb. 10 (UPI) -- The United States and Israel have flight tested the Arrow Weapon System to evaluate and verify the missile system's Block 4configuration. The test, conducted over the Mediterranean Sea, was a target-only exercise in...

Ford replaces two executives smoothly

Sat, 11 Feb 2012 01:00:00 +0200

DEARBORN, Mich., Feb. 10 (UPI) -- U.S. automaker Ford Motor Co. said Chief Financial Officer Lewis Booth and group Vice President for Product Development Derrick Kuzak would retire April 1. Booth will be replaced by Bob Shanks, who works with Ford's...

Designs Direct lamps recalled

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 10 (UPI) -- The U.S. Consumer Product Safety Commission announced a voluntary recall of Designs Direct rooster-themed lamps due to shock and fire risks. About 2,000 Living Traditions 21-inch Rooster Lamps were imported from China by...

Banks not free of foreclosure crisis

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 10 (UPI) -- Officials and industry observers said U.S. banks are not free and clear from foreclosure problems despite a $25 billion settlement announced Thursday. "Banks are not going to see the bright sunlight for some time to...

UAW to train members to protest

Sat, 11 Feb 2012 01:00:00 +0200

DETROIT, Feb. 10 (UPI) -- United Auto Workers chief Bob King said U.S. workers' rights are being trampled by "right-wing Republicans" and "1-percenters" and it's time to take action. King said the union would train members to take...

Counter-IED radars ordered

Sat, 11 Feb 2012 01:00:00 +0200

STERLING, Va., Feb. 10 (UPI) -- The U.S. subsidiary of Britain's Chemring Group PLC is supplying the Italian army with ground-penetrating radar to counter improvised explosive devices. The radar systems, as well as integration and training services,...

Video game sales crashed in January

Sat, 11 Feb 2012 01:00:00 +0200

LOS ANGELES, Feb. 10 (UPI) -- U.S. video game sales dropped sharply in January compared to a year earlier, industry research firm NPD Group Inc. said. Sales for game devices, also fell. The Los Angeles Times reported Friday that revenue from games...

Another C-17 aircraft for Britain

Sat, 11 Feb 2012 01:00:00 +0200

LONDON, Feb. 10 (UPI) -- A Boeing C-17 Globemaster will soon come off the assembly line and Britain is purchasing it to increase the country's C-17 fleet to eight aircraft. British Prime Minister David Cameron, speaking in Parliament this week, said...

Cruise lines revamp safety drill standards

Sat, 11 Feb 2012 01:00:00 +0200

ROME, Feb. 10 (UPI) -- Three cruise line trade associations said the foundering of the Costa Concordia in Italy in January had prompted adoption of new passenger safety drills. In a joint statement, the Cruise Lines International Association, European...

Heron UAS demonstrated for EU

Sat, 11 Feb 2012 01:00:00 +0200

TEL AVIV, Israel, Feb. 10 (UPI) -- The Heron unmanned aerial system by Israel Aerospace Industries was demonstrated for the European Union's border security agency. The Heron is a medium-altitude, long-endurance aircraft for intelligence, surveillance...

Upgraded Tornado has maiden flight

Sat, 11 Feb 2012 01:00:00 +0200

UNTERSCHLEISSHEIM, Germany, Feb. 10 (UPI) -- The first production model of the upgraded Tornado combat aircraft for the German air force has been flown to certify electronic improvements. Cassidian, which is responsible for the electronic upgrades,...

Navy orders nuclear power components

Sat, 11 Feb 2012 01:00:00 +0200

CHARLOTTE, N.C., Feb. 10 (UPI) -- The Babcock and Wilcox Nuclear Operations Group reports a second order for nuclear power components for the U.S. Navy under a contract awarded in 2010. The order is for the manufacture of components to support a number...

Markets skid early

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 10 (UPI) -- U.S. markets opened with losses Friday as the U.S. Department of Commerce said the U.S. trade deficit widened in December. The trade gap grew from $47.1 billion in November to $48.8 billion in December. Moreover, it rose by...

Canadian trade surplus more than doubles

Sat, 11 Feb 2012 01:00:00 +0200

OTTAWA, Feb. 10 (UPI) -- Canada's international trade surplus more than doubled to $2.7 billion in December, based on a 4.5 percent surge in exports, Statistics Canada reported Friday. Merchandise exports rose 4.5 percent to $42 billion while imports...

U.S. trade gap widened in 2012

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 10 (UPI) -- The U.S. trade deficit widened considerably in 2011 from 2010, the U.S. Census Bureau said Friday. The trade gap tacked on an additional $58 billion to reach $558. billion for the year. Exports in 2011 reached $2.1 trillion,...

Oil lower, gas higher

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 10 (UPI) -- Crude oil prices dropped 1.8 percent overnight to $98 per barrel in New York with prices following equities lower. On the New York Mercantile Exchange, light, sweet West Texas Intermediate crude oil lost $1.84 in overnight...

Economic Outlook: My big, fat recession

Sat, 11 Feb 2012 01:00:00 +0200

Doubts about the euro are not subsiding, new leadership or not, rescue plan or not. The international bailout that has in various forms kept pundits, news organizations and politicians busy for at least two years is working its way like a pinball through...

Pakistan receives more revamped F-16 jets

Sat, 11 Feb 2012 01:00:00 +0200

ISLAMABAD, Pakistan, Feb. 10 (UPI) -- The last three of 18 new and upgraded F-16 fighter jets from the United States arrived in Pakistan, a report by the Indo-Asian News Service said. One F-16 D Block 52 and two F-16 Block 15 Mid-Life Upgrade aircraft...

Greece debt plan rejected as inadequate

Sat, 11 Feb 2012 01:00:00 +0200

ATHENS, Greece, Feb. 10 (UPI) -- Greece grappled with dire new demands after eurozone finance ministers rebuked its $4.4 billion in budget cuts as not enough to warrant a $173 billion bailout. The ministers, meeting in Brussels, told Greek Finance Minister...

Grain futures lower Thursday

Sat, 11 Feb 2012 01:00:00 +0200

CHICAGO, Feb. 9 (UPI) -- Grains futures on the Chicago Board of Trade closed mostly lower Thursday, although the dollar index was flat, closing down 0.09 percent to 78.62. Corn was off 3 3/4 to off 6 1/2, soybeans were off 4, wheat was off 8 to off...

Diamond trade crashes in Israel

Sat, 11 Feb 2012 01:00:00 +0200

TEL AVIV, Israel, Feb. 9 (UPI) -- The diamond industry in Israel is collapsing after police investigated an illegal bank in a diamond district, a former trade association president said. The illegal bank near the Ramat Gan Diamond Exchange was apparently...

Oil supplies little changed in week

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 9 (UPI) -- U.S. crude oil inventories were little changed in the week that ended Friday, the U.S. Energy Information Administration said. The agency said crude oil inventories rose by 300,000 barrels to 339.2 million barrels in the...

New amphibious vehicles debuted

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 9 (UPI) -- A U.S. manufacturer of amphibious vehicles has introduced two high-speed trucks for military, public safety and commercial operations. The Phibian, by Michigan's Gibbs Amphibians, is made of carbon fiber and features an off-road...

BAE refurbishing vehicles for Iraq

Sat, 11 Feb 2012 01:00:00 +0200

ANNISTON, Ala., Feb. 9 (UPI) -- BAE Systems has won a $31 million deal to refurbish U.S. military M113A2 armored personnel for Iraq under the Foreign Military Sales program. The refurbishment of 440 APCs will be performed in conjunction with the Anniston...

Wholesale inventories rose in October

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 9 (UPI) -- U.S. wholesale inventories rose 1 percent in December, reaching $473.2 billion, the Commerce Department said Thursday. Inventories were up 10 percent from December 2010, the department said, while the November estimate was...

SolarWorld touts work for Navy

Sat, 11 Feb 2012 01:00:00 +0200

HILLSBORO, Ore., Feb. 9 (UPI) -- Solar panels generating a total of 1.3 megawatts of power are installed at a U.S. Navy facility and ready to begin their first full year of operation. Oregon's SolarWorld said the 5,376 high-performance solar panels...

Mortgage rates up slightly in week

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 9 (UPI) -- Average fixed mortgage interest rates for long-term contracts rose slightly or held even in the week, the Federal Home Loan Mortgage Corp. said Thursday. Rates for 30-year contracts held steady at 3.87 percent with 0.8 points...

ECB and BOE leave interest rates as is

Sat, 11 Feb 2012 01:00:00 +0200

FRANKFURT, Germany, Feb. 9 (UPI) -- The European Central Bank and the Bank of England both left monetary policy unchanged Thursday, the banks said in separate announcements. The ECB left its key interest rate at 1 percent while the BOE maintained its...

Five banks, 49 states strike foreclosure deal

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 9 (UPI) -- Forty-nine states, the U.S. government and the five biggest mortgage servicers reached a $25 billion agreement to address problems with the foreclosure process. The complaints of widespread foreclosure abuses surfaced in...

New rules for Canadian landline telcos

Sat, 11 Feb 2012 01:00:00 +0200

OTTAWA, Feb. 9 (UPI) -- Canadian telephone companies providing landline service were ordered Thursday to implement new diagnostic services to customers by the national regulator. The Canadian Radio-television and Telecommunications Commission ruled...

Middle East remains major arms market

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 9 (UPI) -- The Middle East arms market holds promise for Europe's defense industry despite its political turmoil, a market intelligence and analysis company said. Forecast International, which has headquarters in the United States,...

Toyota to build more Highlanders in U.S.

Sat, 11 Feb 2012 01:00:00 +0200

CHICAGO, Feb. 9 (UPI) -- Toyota Motor Corp. said it plans to invest $400 million in its Princeton, Ind., plant to increase production of Highlander hybrid SUVs. The investment will add 400 jobs at the plant -- known as Toyota Motor Manufacturing Indiana...

Air Force, Navy give missile contracts

Sat, 11 Feb 2012 01:00:00 +0200

MELBOURNE, Fla., Feb. 9 (UPI) -- The U.S. military has awarded contracts to the Harris Corp. and Raytheon for air-to-air missiles and their components. Additional telemetry modules for the U.S. Air Force's AIM-120 AMRAAM missiles are to be produced...

Raytheon opening public safety center

Sat, 11 Feb 2012 01:00:00 +0200

DOWNEY, Calif., Feb. 9 (UPI) -- A center for public safety technologies and research is being opened in California next week by Raytheon, the company announced. The center is Downey, Calif., in southeastern Los Angeles County. "As a premier systems...

Crude oil nears $100

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 9 (UPI) -- Crude oil prices rose to nearly $100 per barrel Thursday morning in New York with prices staying within a recent trading range as inventories remained flat. The U.S. Energy Information Agency said Wednesday that crude oil supplies...

U.S. markets wobble at the start

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 9 (UPI) -- U.S. markets dropped after an initial push higher Thursday, as investors contemplated jobless claims, an interest rate decision in Europe and Greek debt. Weekly first-time jobless claim figures came in better than expected...

First-time jobless claims down by 15,000

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 9 (UPI) -- Initial unemployment claims fell by 15,000 to a seasonally adjusted 358,000 for the week ending Feb. 4, the U.S. Labor Department said Thursday. The previous week's figure was revised from 379,000 to 373,000, the department...

Northrop picked for training support

Sat, 11 Feb 2012 01:00:00 +0200

HERNDON, Va., Feb. 9 (UPI) -- A $103 million task order to support U.S. National Guard Mission Training Complexes has been given to Northrop Grumman by the U.S. Department of Interior. "We are extremely proud to have been selected to support the...

Economic Outlook: The foreclosure deal

Sat, 11 Feb 2012 01:00:00 +0200

Government officials are on the verge of an agreement worth as much as $26 billion with five major U.S. banks. The deal would cap a yearlong push to settle federal and state investigations of alleged foreclosure abuses by lenders and would represent...

Navy's medical research gets support

Sat, 11 Feb 2012 01:00:00 +0200

FAIRFAX, Va., Feb. 9 (UPI) -- General Dynamics has joined the roll of companies supporting U.S. Navy medical research through a five-year, indefinite-delivery/indefinite-quantity award. Under the Investigational Research Omnibus award, General Dynamics...

Navy contracts for avionics repair

Sat, 11 Feb 2012 01:00:00 +0200

WOODLAND HILLS, Calif., Feb. 9 (UPI) -- The U.S. Navy has given Northrop Grumman a five-year repair services contract for avionics equipment outfitted on Prowler jets and Seahawk helicopters. Covered under the indefinite-delivery/indefinite-quantity...

Honor for DynCorp mentoring

Sat, 11 Feb 2012 01:00:00 +0200

FALLS CHURCH, Va., Feb. 9 (UPI) -- A U.S. Defense Department award honoring large contracting firms that mentor small businesses is being given to DynCorp International. DynCorp, which has headquarters in Virginia, said the Nunn-Perry Award is in recognition...

Harris wins follow-on Aussie radio deal

Sat, 11 Feb 2012 01:00:00 +0200

CANBERRA, Australia, Feb. 9 (UPI) -- The Harris Corp. has won a $235 million order with Australia's Department of Defense for its Falcon radios, a Type-1 tactical voice and data communications system. The contract is for Falcon III AN/PRC-152(C) multi-band,...

Deal targets U.S. offshore tax cheats

Sat, 11 Feb 2012 01:00:00 +0200

PARIS, Feb. 9 (UPI) -- Five European countries say they will help Washington identify offshore U.S. tax cheats in exchange for Washington's reciprocation. The agreement, to streamline implementation of the U.S. Foreign Account Tax Compliance Act, will...

Greeks' debt talks sputtering

Sat, 11 Feb 2012 01:00:00 +0200

ATHENS, Greece, Feb. 9 (UPI) -- Last-gasp talks on savage Greek cuts were to resume Thursday after failing before dawn ahead of an evening eurozone meeting on Greece's $170 billion bailout. The holdup was sweeping new pension cuts -- which Greece's...

China, Canada sign nine agreements

Sat, 11 Feb 2012 01:00:00 +0200

BEIJING, Feb. 9 (UPI) -- China and oil-rich Canada, in line with visiting Canadian Prime Minister Stephen Harper's plans to diversify trade, signed nine agreements. The agreements concluded Wednesday in the presence of Harper and Chinese Premier Wen...

China plans 45 million new jobs by 2015

Sat, 11 Feb 2012 01:00:00 +0200

BEIJING, Feb. 9 (UPI) -- China says it plans to create 45 million jobs and bring its urban jobless rate below 5 percent in three years even as it faces slower economic growth. The forecast is contained in the Employment Growth Plan (2011-15). The document...

Hyundai Elantra gets two siblings

Sat, 11 Feb 2012 01:00:00 +0200

CHICAGO, Feb. 8 (UPI) -- Hyundai Wednesday showed off two siblings to its hot-selling Elantra sedan, a two-door sport coupe and a five-door hatchback, at the Chicago Auto Show. Elantra has been on a roll, picking up car of the year honors at the North...

January inflation jumps to 4.5 percent

Sat, 11 Feb 2012 01:00:00 +0200

BEIJING, Feb. 8 (UPI) -- China's January inflation jumped to 4.5 percent year-on-year, a three-month high, blamed largely on rising food prices, official data showed Thursday. The new rate, as measured by the consumer price index, came in higher than...

Trustee: Saab has potential bidders

Sat, 11 Feb 2012 01:00:00 +0200

TROLLHATTAN, Sweden, Feb. 8 (UPI) -- Insolvent Swedish automobile company Saab has attracted potential buyers, said a bankruptcy trustee, who did not want to reveal names. The Stockholm News reported Wednesday that Hans Bergqvist confirmed there were...

Grains mostly lower Wednesday

Sat, 11 Feb 2012 01:00:00 +0200

CHICAGO, Feb. 8 (UPI) -- Grains futures on the Chicago Board of Trade closed mostly lower with the U.S. dollar slightly higher Wednesday. Corn was off 1 3/4 to up 1/4, soybeans were off 1/2 to off 1, wheat was off 1 1/2 to off 6 3/4 and oats were off...

GM looks at Opel and gasps

Sat, 11 Feb 2012 01:00:00 +0200

RUSSELSHEIM, Germany, Feb. 8 (UPI) -- U.S. automaker General Motors Co. warned its European divisions Opel and Vauxhall that factories could close after fourth-quarter losses. GM called the losses in its European brands "horrendous." The European...

Drones over U.S. may pose security risks

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 8 (UPI) -- Thousands of tiny unmanned aircraft or drones flying into civilian airspace over the United States can pose a security threat as they may be difficult to monitor in the long run and some craft may fall into enemy hands, security...

Lloyds to lay off 1,000

Sat, 11 Feb 2012 01:00:00 +0200

LONDON, Feb. 8 (UPI) -- British bank Lloyds said it would cut 1,000 jobs, bringing its total job cuts since 2008 to 31,800. The Sun newspaper reported that the bank, which is 40 percent owned by taxpayers who helped the bank struggle through the financial...

Nokia to shed 4,000 jobs

Sat, 11 Feb 2012 01:00:00 +0200

SALO, Finland, Feb. 8 (UPI) -- Finnish mobile phone maker Nokia said it would cut 4,000 jobs in Hungary, Finland and Mexico as it concentrated its production in Asia. "Shifting device assembly to Asia is targeted at improving our time to market....

Ford unveils Shelby GT Mustang rag top

Sat, 11 Feb 2012 01:00:00 +0200

CHICAGO, Feb. 8 (UPI) -- Ford Motor Co. took the top off its 2013 Shelby Mustang GT500 Wednesday showing a convertible for enthusiasts at the Chicago Auto Show. The 5.8-liter, supercharged V8 kicks out 650 horsepower and 600 pound-feet of torque and...

More small firms indicate hiring plans

Sat, 11 Feb 2012 01:00:00 +0200

PRINCETON, N.J., Feb. 8 (UPI) -- U.S. small business owners are expressing more optimism about hiring than they have since January 2008, a Gallup poll indicates. In a survey conducted Jan. 9-13, 22 percent of small business owners said they were likely...

Britain tries bulk buying for energy

Sat, 11 Feb 2012 01:00:00 +0200

LONDON, Feb. 8 (UPI) -- British Energy Secretary Edward Davey says bulk buying energy would be a "game changer," producing lower energy bills for consumers. "I have long believed that collective purchasing will be a game-changer in terms...

South Korea orders more Viper systems

Sat, 11 Feb 2012 01:00:00 +0200

EL SEGUNDO, Calif., Feb. 8 (UPI) -- South Korea has ordered 1,537 more Viper under-the-hood mobile power systems for its military from Aura Systems Inc. of California. The new order brings the total of Viper systems ordered by Seoul to 2,137 units,...

Bridge-in-a-box system tested for military

Sat, 11 Feb 2012 01:00:00 +0200

SAN DIEGO, Feb. 8 (UPI) -- Testing of a mobile, bridge-in-a-box system that can handle a 30-ton vehicle has been successfully completed, California's ATA Engineering reports. The prototype of the system, called ARCS, consists of six segments of interleaved...

3M Corp. announces CEO shift

Sat, 11 Feb 2012 01:00:00 +0200

ST. PAUL, Minn., Feb. 8 (UPI) -- U.S. products giant 3M Corp. said Wednesday that Inge Thulin would succeed George Buckley as the firm's president and chief executive officer. Thulin is to take over the positions on Feb. 24, while Buckley, the current...

Three states set to join foreclosure deal

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 8 (UPI) -- Arizona, Florida and Michigan are set to join at least 40 other states in a settlement over foreclosure abuses by nationwide lenders, officials said. Twincities.com, the online version of the St. Paul, Minn., Pioneer Press,...

Job openings hit three-year high

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 8 (UPI) -- The U.S. Department of Labor said there were 3.4 million job openings on the last business day of December, a three-year high. While job openings rose from November's figure of 3.1 million, available jobs aren't high by historic...

Companies team on Special Ops contract bid

Sat, 11 Feb 2012 01:00:00 +0200

LISLE, Ill., Feb. 8 (UPI) -- Navistar Defense and two other companies are working together to develop a new combat vehicle for U.S. Special Operations Command. Navistar's partners in the endeavor are Indigen Armor of South Carolina and Virginia's Science...

Mortgage activity rises with rates at lows

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 8 (UPI) -- The Mortgage Bankers Association said U.S. mortgage activity rose 7.5 percent in the week ending Friday, as long-term interest rates hit record lows. Interest rates for 30-year, fixed-rate conforming mortgages fell from 4.09...

Yahoo! shakes up its board

Sat, 11 Feb 2012 01:00:00 +0200

SUNNYVALE, Calif., Feb. 8 (UPI) -- Struggling U.S. Internet giant Yahoo! said four directors, including its chairman, would step aside and that two new board members had been appointed. Chairman Roy Bostock and board members Gary Wilson, Arthur Kern...

Jet-powered UAS takes flight

Sat, 11 Feb 2012 01:00:00 +0200

SAN DIEGO, Feb. 8 (UPI) -- The second prototype of a jet-powered unmanned aircraft system has been successfully flown in California. The Predator C Avenger by General Atomics Aeronautical Systems Inc. can carry up to 3,500 pounds internally and bombs...

Air Canada adopts all-in pricing in ads

Sat, 11 Feb 2012 01:00:00 +0200

MONTREAL, Feb. 8 (UPI) -- Air Canada announced Wednesday it will begin advertising all-inclusive flight costs, weeks after a U.S. law went into effect requiring full price disclosure. In a release from its Montreal headquarters, Canada's largest airline...

Lockheed wins JIEDDO contract

Sat, 11 Feb 2012 01:00:00 +0200

ELLICOTT CITY, Md., Feb. 8 (UPI) -- Lockheed Martin reports it has received an indefinite-delivery/indefinite-quantity contract to support U.S. efforts to counter improvised explosive devices. The services contract for the Department of Defense's Joint...

JSOW C-1 on target

Sat, 11 Feb 2012 01:00:00 +0200

TUCSON, Feb. 8 (UPI) -- Developmental testing of the newest version Raytheon's air-to-ground Joint Standoff Weapon C-1 has been completed by the U.S. Navy. During the test, the JSOW C-1, fired from an F/A-18, twice successfully tracked and struck small,...

Crude oil back near $100

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 8 (UPI) -- Crude oil prices rebounded Wednesday morning, closing in on $100 per barrel as stocks markets showed gains in Asia and Europe. A weekly U.S. inventory report is issued late Wednesdays. A rise before the report, like the tail...

Elta supplying fire control radar

Sat, 11 Feb 2012 01:00:00 +0200

TEL AVIV, Israel, Feb. 8 (UPI) -- An unidentified country has ordered $158 million worth of fire control radars from Israel's Elta Systems Ltd. Elta's ELM-2032 would be installed on the customer's combat aircraft and would provide enhanced surveillance...

Markets tentatively higher in early going

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 8 (UPI) -- U.S. stock indexes rose modestly Wednesday morning following gains in Asia and Europe. Gains were muted with investors keeping a sharp focus on negotiations in Greece, which is attempting to piece together financial reform...

New satphone capability introduced

Sat, 11 Feb 2012 01:00:00 +0200

MELBOURNE, Fla., Feb. 8 (UPI) -- A handheld device to acquire and sustain satellite communications links in challenging environments has been introduced by two U.S. companies. The Harris Corp. and Coolfire Solutions LLC said the Reconn mobile SATCOM...

Economic Outlook: A slippery slope

Sat, 11 Feb 2012 01:00:00 +0200

With union workers protesting in the street, leaders in Greece met to hash out details of spending cuts that long ago crossed into draconian territory. However, the squeeze is still on. Speaking with an agreement to keep his name out of circulation,...

DCI to train Russian navy personnel

Sat, 11 Feb 2012 01:00:00 +0200

PARIS, Feb. 8 (UPI) -- Russian navy personnel who will serve on French-made assault ships are to receive training from France's Defense Conseil International group. The two Mistral class ships are being built by DCNS of France for the Russian navy and...

Teetering Greece says debt deal pending

Sat, 11 Feb 2012 01:00:00 +0200

ATHENS, Greece, Feb. 8 (UPI) -- Greece struggled to retain credibility after missing a third debt-deal deadline but vowed an accord was near amid a European concession to cut Greece's debt. An agreement on a "final draft document" of new draconian...

India-Iran work out oil payment deal

Sat, 11 Feb 2012 01:00:00 +0200

NEW DELHI, Feb. 7 (UPI) -- Iran, facing tough U.S. and European sanctions, reached a deal with India to accept 45 percent of payment for its oil in Indian currency, its ambassador said. Speaking to reporters in New Delhi, Iranian Ambassador Syed Mahdi...

Consumer credit rose in December

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 7 (UPI) -- Consumer borrowing rose by $20 billion in December to $2.49 trillion, the U.S. Federal Reserve said Tuesday. The Fed said non-revolving credit, which includes auto loans, personal loans and student loans, rose from $1.68...

Grains futures in Chicago slide, mostly

Sat, 11 Feb 2012 01:00:00 +0200

CHICAGO, Feb. 7 (UPI) -- Grains futures on the Chicago Board of Trade closed mostly lower with a bearish nudge from the U.S. dollar, which rose Tuesday. Corn was off 2 to off 6 3/4, soybeans were off 1/2 to off 1, wheat was off 6 1/4 to off 8 3/4 and...

Gold gains 1.3 percent

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 7 (UPI) -- The price of gold gained $23.10 an ounce Tuesday, turning around a two-day slide to settle at $1,748 per troy ounce in New York. On the Comex division of the New York Mercantile Exchange, silver added 43.7 cents to end the...

Aerospace, defense deals reach record totals in 2011

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 7 (UPI) -- Global aerospace and defense business reached record levels in 2011, up from $22 billion in 2010 to $44 billion, despite fears it could turn out to be a bad year overall for the industry, latest data indicated. Most fears were...

Chrysler to pay bonuses a month early

Sat, 11 Feb 2012 01:00:00 +0200

AUBURN HILLS, Mich., Feb. 7 (UPI) -- Chrysler Group Chief Executive Officer Sergio Marchionne said bonus checks would arrive early this year following the first company profit in 15 years. Chrysler earned a net profit of $183 million in 2011; it also...

Xstrata to merge with Glencore

Sat, 11 Feb 2012 01:00:00 +0200

ZUG, Switzerland, Feb. 7 (UPI) -- International mining giant Xstrata PLC said Tuesday it would merge with Glencore International AG, creating a company worth $90 billion. The deal, however, was on shaky ground, in part because it would merge a mining...

Menard settles discrimination suit

Sat, 11 Feb 2012 01:00:00 +0200

EAU CLAIRE, Wis., Feb. 7 (UPI) -- U.S. retail chain Menard says it has agreed to pay $1 million to settle a discrimination case filed by black workers who claimed they were denied promotions. Attorneys for the Wisconsin-based home improvement store...

Poland seeks U.S. munitions

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 7 (UPI) -- Poland is seeking to purchase missiles, bombs and other items from the United States for use on F-16s flown by its air force. The materials requested, worth an estimated $447 million, would be procured through a Foreign Military...

Honeywell ready for military budget cuts

Sat, 11 Feb 2012 01:00:00 +0200

MORRIS TOWNSHIP, N.J., Feb. 7 (UPI) -- Honeywell expects a decline in its defense and space business but says it will weather U.S. military budget cuts through increased efficiency and other methods. The outlook and plans were detailed by company Vice...

Retail sales rise in unseasonable week

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 7 (UPI) -- U.S. retail sales receipts at chain stores rose 1.8 percent in the week ending Saturday, the International Council of Shopping Centers said Tuesday. The week-to-week gain came with a weekly average temperature that was 12.9...

Shaw gets new cleanup contract

Sat, 11 Feb 2012 01:00:00 +0200

BATON ROUGE, La., Feb. 7 (UPI) -- The Shaw Group says will continue to provide the U.S. Army Corps of Engineers, Omaha District, with rapid environmental cleanup services. Under the new indefinite-delivery/indefinite-quantity award, Shaw, which has...

Jordan orders Falcon radios

Sat, 11 Feb 2012 01:00:00 +0200

MELBOURNE, Fla., Feb. 7 (UPI) -- The Kingdom of Jordan has placed a $26.4 million order for Falcon tactical radios with the Harris Corp. of the United States. The Falcon II and Falcon III systems will be the Jordanian military's core communications...

Navy testing railgun launcher

Sat, 11 Feb 2012 01:00:00 +0200

ARLINGTON, Va., Feb. 7 (UPI) -- A prototype electromagnetic railgun launcher built for the U.S. Navy by General Atomics is to undergo testing at the Naval Surface Warfare Center. The Navy said delivery of the prototype last month represents "the...

Hyperspectral imaging for UAVs

Sat, 11 Feb 2012 01:00:00 +0200

HAIFA, Israel, Feb. 7 (UPI) -- Israel's Elbit Systems Ltd. reports it has developed a hyperspectral sensing payload for its Hermes 450 and Hermes 900 drones. The hyperspectral imaging technology enables simultaneous imaging of the region of interest...

F-35 sensors used in military exercise

Sat, 11 Feb 2012 01:00:00 +0200

LINTHICUM, Md., Feb. 7 (UPI) -- Electronic sensors that will be used on F-35 aircraft have been deployed in a major U.S. Navy and U.S. Marine Corps amphibious exercise. Northrop Grumman said the AN/AAQ-37 active electronically scanned array radar and...

Northrop spotlighting aerial systems

Sat, 11 Feb 2012 01:00:00 +0200

LONDON, Feb. 7 (UPI) -- Northrop Grumman plans to showcase a range of aircraft security systems, from radars to unmanned aerial vehicles, at the Singapore Air Show this month. Included in its displays is a variety of Q-4 high-altitude, long-endurance...

Iran shipping line masks 'arms vessels'

Sat, 11 Feb 2012 01:00:00 +0200

DUBAI, United Arab Emirates, Feb. 7 (UPI) -- Iran's state shipping line is reported to renaming many of its freighters in a bid to circumvent international sanctions on arms transfers and the clandestine supply of high-tech equipment for its contentious...

BAE to support Wedgetail EW systems

Sat, 11 Feb 2012 01:00:00 +0200

ADELAIDE, Australia, Feb. 7 (UPI) -- Electronic warfare systems aboard Australia's Wedgetail early warning and control aircraft are to be performed by BAE Systems Australia. BAE said it was awarded the contract by Boeing, the manufacturer of the 737...

Air France grounds flights due to strike

Sat, 11 Feb 2012 01:00:00 +0200

PARIS, Feb. 7 (UPI) -- Air France said Tuesday a significant percentage of flights could be canceled due to a strike by pilots, flight attendants and ground crew. The airline said it would only guarantee half of its long-distance flights. In addition,...

Oil prices hold steady Tuesday

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 7 (UPI) -- The price for a barrel of crude oil was little changed Tuesday on the New York Mercantile Exchange, giving up 20 cents overnight to reach $96.71 per barrel. Home heating oil picked up 2.27 cents to $3.1934 a gallon. Reformulated...

U.S. markets sputter at the start

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 7 (UPI) -- U.S. markets continued a downward track Tuesday as union workers in Greece called a 24-hour strike to protest a new austerity budget package. Leaders of the Greek government Monday announced an agreement to cut 15,000 public...

Canadian construction intentions jump

Sat, 11 Feb 2012 01:00:00 +0200

OTTAWA, Feb. 7 (UPI) -- The value of building permits Canadian municipalities issued in December rose 11.1 percent on a monthly basis to $6.8 billion, Statistics Canada said Tuesday. The agency said the construction intentions were the highest since...

Japan sold 1.02 trillion yen in November

Sat, 11 Feb 2012 01:00:00 +0200

TOKYO, Feb. 7 (UPI) -- Japan's efforts to check its rising currency against the U.S. dollar included an as-yet-unannounced sale of 1.02 trillion yen in November, data showed Tuesday. The early November currency market intervention to stem the rising...

ABC-TV, Univision may start news channel

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 7 (UPI) -- ABC-TV and Univision Communications Inc. are in talks to start a 24-hour cable-news channel for English-speaking U.S. Latinos, The Wall Street Journal reported. The unnamed channel would combine the resources of ABC News and...

CFOs: Humor a key part of workplace 'fit'

Sat, 11 Feb 2012 01:00:00 +0200

MENLO PARK, Calif., Feb. 6 (UPI) -- A sense of humor is important for fitting into a company's corporate culture and may be key to getting -- or staying -- employed, a U.S. survey says. The survey, developed by Accountemps, conducted by an independent...

Grains mostly higher Monday

Sat, 11 Feb 2012 01:00:00 +0200

CHICAGO, Feb. 6 (UPI) -- Corn finished mixed but wheat, soybeans and oats closed slightly higher on the Chicago Board of Trade Monday. Corn was off 1/4 to up 3/4, soybeans were up 1/2 to up 1 1/2, wheat was off 3 to up 7 3/4, oats were up 9 to up 12...

Two tacks for fighting airline fees emerge

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 6 (UPI) -- A senator from Louisiana and a congressman from North Carolina said bills attempting to curb excessive airline fees would likely receive bipartisan support. Sen. Mary Landrieu and Rep. Larry Kissell, both Democrats, have...

Unmanned craft may share civilian airspace

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 6 (UPI) -- The race is on to develop unmanned aircraft that can safely share airspace reserved for civilian aviation. There's both military and commercial interest in having unmanned aircraft that can fly unaided by human pilots, most...

Gold slides for second straight session

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 6 (UPI) -- The price of gold lost $15.40 an ounce Monday to settle at $1,724.90 on the Comex division of the New York Mercantile Exchange. Silver fell by 7 cents to end the session at $33.67 an ounce. The euro was lower at $1.3123 from...

Thales UK supplies submarine sonar

Sat, 11 Feb 2012 01:00:00 +0200

LONDON, Feb. 6 (UPI) -- A new submarine being built for the British navy will be fitted with an integrated search and attack sonar system by Thales UK. The system -- Sonar 2076 -- was ordered by BAR Systems Submarine Solutions, the prime contractor...

Protective flooring on way to military

Sat, 11 Feb 2012 01:00:00 +0200

DENVER, Feb. 6 (UPI) -- Skydex Technologies of Colorado reports more than $5.3 million in contracts last month from U.S. clients for its shock mitigation products. Two agreements for its Convoy Deck product came from BAE Systems and General Dynamics...

Evolvent wins medical support award

Sat, 11 Feb 2012 01:00:00 +0200

FAIRFAX, Va., Feb. 6 (UPI) -- A subsidiary of ManTech International has been selected by the U.S. Air Force for services in support of Air Force Medical Service. The indefinite-delivery/indefinite-quantity contract given to Evolvent Technologies is...

EU stands firm on airline pollution policy

Sat, 11 Feb 2012 01:00:00 +0200

BRUSSELS, Feb. 6 (UPI) -- The European Commission said Monday it will enforce new regulations for greenhouse gas emissions by airlines, despite China's refusal to participate. Starting Jan. 1, airlines using airports in the European Union must comply...

Gen. Cartwright joins Opera Solutions

Sat, 11 Feb 2012 01:00:00 +0200

JERSEY CITY, N.J., Feb. 6 (UPI) -- Data analytics solutions company Opera Solutions LLC announced that a former vice chairman of the U.S. Joint Chiefs of Staff is joining its advisory board. As a member of the board, retired U.S. Marines Gen. James...

Poll: Corporations dodge taxes

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 6 (UPI) -- Small U.S. business owners are unhappy with the amount of taxes large corporations and their executives pay, a recent survey indicates. In a survey conducted by the American Sustainable Business Council, the Main Street Alliance and...

New info system for first responders

Sat, 11 Feb 2012 01:00:00 +0200

TORRANCE, Calif., Feb. 6 (UPI) -- The U.S. Department of Homeland Security has a contracted technology systems integrator for Phase II development of a helmet display for first responders. Physical Optics Corp. of California said the Small Business...

CACI wins ONE contract

Sat, 11 Feb 2012 01:00:00 +0200

ARLINGTON, Va., Feb. 6 (UPI) -- Communications capabilities of the U.S. Department of Defense and other U.S. agencies are to be improved by CACI International. CACI, which has headquarters in Virginia, announced it is one of nine companies selected...

'Halftime in America' back on YouTube

Sat, 11 Feb 2012 01:00:00 +0200

AUBURN HILLS, Mich., Feb. 6 (UPI) -- A spokesman from the National Football League denied the organization had asked Google to remove from YouTube an "Imported from Detroit" ad from Chrysler. During the 2011 Super Bowl, Chrysler made a stir...

IAI and Boeing drive to active Arrow-3

Sat, 11 Feb 2012 01:00:00 +0200

TEL AVIV, Israel, Feb. 6 (UPI) -- Israel Aerospace Industries and the Boeing Co. are driving to complete development of Israel's Arrow-3 anti-ballistic missile interceptor amid the Persian Gulf confrontation between Iran and the West. If that standoff,...

Key states lean toward foreclosure deal

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 6 (UPI) -- California and New York appear ready to join in an agreement with national banks to settle widespread foreclosure processing abuses, officials said. New York Attorney General Eric Scheiderman has said progress is being made...

U.S. threatens to cut aid to Egypt

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 6 (UPI) -- The United States warned Egypt it could lose about $1.4 billion in U.S. aid for planning to try 19 Americans in a criminal court on financial charges. The Americans, among 43 foreign workers charged with spending money from...

Markets slide in early going

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 6 (UPI) -- U.S. markets pared back from last week's gains Monday morning, as stock markers were flat in Asia and weaker in Europe. Discussions of debt reduction in Greece are coming to a head. Financial leaders are saying Greece needs...

Crude oil slips under $97

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 6 (UPI) -- The price for a barrel of crude oil shed nearly $1 Monday on the New York Mercantile Exchange, dropping to under $97 per barrel. Crude oil for March delivery lost 93 cents to reach $96.91 per barrel. Home heating oil picked...

Economic Outlook: Stimulus game

Sat, 11 Feb 2012 01:00:00 +0200

A deal on mortgage relief for homeowners caught up in a paperwork scandal is nearly complete, officials are saying. This is, of course, the new stimulus package, put together through the judicial system, rather than the legislative process. President...

Sides apart ahead of Greek reform deadline

Sat, 11 Feb 2012 01:00:00 +0200

ATHENS, Greece, Feb. 6 (UPI) -- Greek politicians said they were far apart as a noon deadline loomed to agree on severe reforms needed to get a $170 billion bailout vital to avoiding default. Prime Minister Lucas Papademos set the deadline for the three...

Disagreement over Greek austerity deal

Sat, 11 Feb 2012 01:00:00 +0200

ATHENS, Greece, Feb. 5 (UPI) -- Greek Prime Minister Lucas Papademos convened with international lenders Sunday in last-minute austerity talks, officials say. A medium-term package is being negotiated with the "troika" -- a group comprised...

Networking Week to coach job seekers

Sat, 11 Feb 2012 01:00:00 +0200

HAVERFORD, Pa., Feb. 5 (UPI) -- Career coach Ford R. Myers will be holding International Networking Week in Haverford, Pa., from Feb. 6-10. Myers, author of "Get The Job You Want, Even When No One's Hiring," says job seekers can get hired...

Auto Outlook: Obama praises U.S. auto comeback

Sat, 11 Feb 2012 01:00:00 +0200

U.S. President Barack Obama spent about 25 minutes at the Washington Auto Show last week to kick some tires and make some political points highlighting the industry's turnaround. On his visit, which wasn't part of his official schedule, the president...

Micron names Durcan CEO

Sat, 11 Feb 2012 01:00:00 +0200

BOISE, Idaho, Feb. 4 (UPI) -- Micron Technology Inc. Saturday named Mark Durcan chief executive of the U.S. semiconductor device maker, replacing Steven Appleton, who died in a plane crash. Appleton, 51, was killed Friday when the small plane he was...

Weeplay infant bodysuits recalled

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 4 (UPI) -- The U.S. Consumer Product Safety Commission announced a voluntary recall of 128,000 infant body suits made by Weeplay Kids due to a choking hazard. The snaps on the body suits can detach, raising the risk of choking, the...

Bumbleride strollers recalled

Sat, 11 Feb 2012 01:00:00 +0200

WASHINGTON, Feb. 4 (UPI) -- Bumbleride Inc. of San Diego is recalling about 28,000 strollers with wheels that can break and cause them to tip over, regulators said. The firm has received 36 reports of incidents with front wheels cracking, including...

Second bid could surface for Saab

Sat, 11 Feb 2012 01:00:00 +0200

TROLLHATTAN, Sweden, Feb. 4 (UPI) -- Chinese company Beijing Automotive Investment BAIC said it is interested in bidding on bankrupt Swedish automaker Saab. "Yes, we are considering it, but it's also a rather complicated business," said company...

Apple alters iBooks agreements

Sat, 11 Feb 2012 01:00:00 +0200

CUPERTINO, Calif., Feb. 4 (UPI) -- U.S. technology giant Apple said the content created with iBooks Author software belongs to the author, not to the company. The original agreement had provoked some concern that Apple appeared to be saying in its iBooks...

Iran pledges to defy Western embargo

Sat, 11 Feb 2012 01:00:00 +0200

TEHRAN, Feb. 4 (UPI) -- Iranian Oil Minister Rostam Qassemi said Iran will hold firm on defiance of pressure from foreign countries to abandon an alleged nuclear weapons program. "We will not give up our righteous stance," Qassemi said at...

Cold strains Europe's natural gas supply

Sat, 11 Feb 2012 01:00:00 +0200

MOSCOW, Feb. 4 (UPI) -- A sometimes lethal cold snap in Europe has put strain on natural gas supplies, an EU spokesperson said. With temperatures in some regions as low as minus 35 degrees Celsius, "I can confirm that there has been a decrease...

Hormel to phase out gestation crates

Sat, 11 Feb 2012 01:00:00 +0200

AUSTIN, Minn., Feb. 4 (UPI) -- U.S. meat producer Hormel Foods Corp. said it would give up constricting gestation crates for its pigs by 2017. The company is following in the footsteps of meat producers Tyson, Triumph, Smithfield Foods Inc., and Seaboard...

Greek unions and bosses reject wage cuts

Sat, 11 Feb 2012 01:00:00 +0200

ATHENS, Greece, Feb. 4 (UPI) -- Greek unions joined with employers to tell the Greek government enough was enough, turning down proposed pay cuts. The government is caught between demands from the international troika – the European Union, the European...

Sign of the times: Knockoffs get humble

Sat, 11 Feb 2012 01:00:00 +0200

LOS ANGELES, Feb. 4 (UPI) -- Be it ever so humble, even knockoffs in California are trading down these days, fashion and retail experts said. What used to be limited to a parasitic relationship with exclusive brands has spread to lower-shelf merchandise,...

Gold price fall $18 an ounce

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 3 (UPI) -- The price of gold lost $19 an ounce Friday to settle at $1,740.30 on the Comex division of the New York Mercantile Exchange. Silver fell by 43 cents, to end the session at $33.75 an ounce. The euro was virtually flat at $1.3146,...

N.Y. AG files foreclosure fraud charges

Sat, 11 Feb 2012 01:00:00 +0200

NEW YORK, Feb. 3 (UPI) -- New York Attorney General Eric Schneiderman Friday charged Bank of America, J.P. Morgan Chase and Wells Fargo with fraudulent foreclosure practices. The banks' "creation and use of a private national mortgage electronic...

Corn, soybeans, oats higher on CBOT

Sat, 11 Feb 2012 01:00:00 +0200

CHICAGO, Feb. 3 (UPI) -- Corn, soybeans and oats finished lower but wheat bucked the trend Friday on the Chicago Board of Trade. Corn was up 1 1/4 to up 3 1/4, soybeans were up 15 1/4 to 15 1/2, wheat was off 2 to off 4, oats were up 1 to up 6 1/4. Corn...

Thales bids for $3B Saudi missile deal

Sat, 11 Feb 2012 01:00:00 +0200

RIYADH, Saudi Arabia, Feb. 3 (UPI) -- French military electronics giant Thales is negotiating with Saudi Arabia for a contract, worth up to $3 billion, to upgrade the kingdom's air-defense network, particularly those guarding key military and government...

NATO acquiring UAVs

Sat, 11 Feb 2012 01:00:00 +0200

OSLO, Norway, Feb. 3 (UPI) -- Norway reports that defense ministers of NATO states have decided to acquire unmanned aerial surveillance aircraft. Common solutions have tied NATO together for over 60 years and give the nations of the alliance access...

Hungary's Malev airline halts operations

Sat, 11 Feb 2012 01:00:00 +0200

BUDAPEST, Hungary, Feb. 3 (UPI) -- Hungary's state-owned airline Malev Hungarian said Friday it would shut down temporarily due to a critical cash drain. The company said "cash outflow has accelerated to such an extent that the airline's situation...

Air France unions initiate four-day strike

Sat, 11 Feb 2012 01:00:00 +0200

PARIS, Feb. 3 (UPI) -- Union workers at Air France said they will go on strike for four days, Monday through Thursday, to protest a proposed labor law. The Local reported Friday the four-day strike, ending Feb. 9, is in protest of a law that would require...

Nammo opens Australia subsidiary

Sat, 11 Feb 2012 01:00:00 +0200

RAUFOSS, Norway, Feb. 3 (UPI) -- A Norway ammunition manufacturer has established an Australian subsidiary to serve the country's military. Nammo said the move will also help expand industrial ventures throughout the region. "The decision to set...

BAE continues missile component link

Sat, 11 Feb 2012 01:00:00 +0200

EDINBURGH, Australia, Feb. 3 (UPI) -- BAE Systems Australia will continue to make components for the Evolved Sea Sparrow Missile under a contract from U.S. company Raytheon. The contract guarantees production work on the components in Australia through...

Testing starts on torpedo launchers

Sat, 11 Feb 2012 01:00:00 +0200

ADELAIDE, Australia, Feb. 3 (UPI) -- U.S.-designed torpedo launchers being modified for Australia's new Air Warfare Destroyers have entered the testing phase of development. Babcock Pty Ltd., which was contracted by Raytheon Australia to adapt the Mk32...