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Report: Drought Threatens Health Of Poor

WASHINGTON (UPI) — A World Bank Group report said drought in the United States and Eastern Europe drove food prices up sharply, “threatening the health” of millions of people. The price of corn and wheat rose by 25 percent in July, while soybean prices rose 17 percent, the World Bank Group’s Food Price Watch report […]

Investment CEO Sees Gold Standard Return

WESTPORT, Conn. (UPI) — Peter Schiff, vocal critic of the U.S. Federal Reserve System, said he anticipates a currency crisis and a U.S. return to the gold standard within two years. The chief executive of the global investment firm Euro Pacific Capital said an immediate need to peg the value of a dollar to gold […]

Bernanke Hints At Policy Action On Growth

JACKSON HOLE, Wyo. (UPI) — U.S. Federal Reserve Chairman Ben Bernanke said Friday the central bank “will provide additional policy accommodation” to promote economic growth and hiring. Speaking at the Federal Reserve Bank of Kansas City Economic Symposium in Jackson Hole, Wyo., Bernanke said the U.S. economy faces “daunting” challenges, five years after “significant financial […]

Buffett Gives Away $3 Billion On Birthday

OMAHA (UPI) — U.S. billionaire Warren Buffett says he has pledged an additional $3 billion of Berkshire Hathaway stock to foundations operated by his children. In 1996, Buffett pledged 17.5 million Class B shares of his firm’s stock to each of his children’s foundations. Buffett, who turned 82 Thursday, said in an open letter how […]

Expert: Costco Caters To Ultra-Affluent

STEVENS, Pa., (UPI) –  It’s not surprising Mitt and Ann Romney enjoy shopping at Costco, because it is the only discount retailer that attracts the affluent, a U.S. expert says. Pamela Danziger, president of Unity Marketing and luxury market expert, said Costco was the only discount chain that attracted more ultra-affluent — consumers with more […]

Middle Income Students Have More Debt

MADISON, Wis., (UPI) –  Middle income families are more likely to rack up high student loan debt than students from both lower and higher income backgrounds, U.S. researchers say. “Many middle income families make too much money for their children to qualify for student aid packages,” study author Jason N. Houle of the University of […]

Identity Authentication Services Offered

DALLAS, (UPI) –  Subscription-based authentication services for U.S. law enforcement agencies accessing the FBI’s CJIS database are now on offer. Under an FBI policy enacted last year, law enforcement agencies must use advanced authentication — such as biometric systems, smartcard and software tokens — by October 2013 to verify the identities of officers or individuals […]

GE Aviation Supports Marine Surveillance

GRAND RAPIDS, Mich., (UPI) –  A $9 million contract to support surveillance sensors used by the U.S. Marine Corps has been given to GE Aviation. Covered under the contract is the Marines’ Ground-Based Operation Surveillance System for short- and long-range day/night surveillance “beyond the fence” in all terrain and weather conditions. The contract is administered […]

U.S. Arms Sales Hit Record $66 Billion

WASHINGTON, (UPI) –  Export of U.S. weapons abroad soared more than three times the previous level in 2011, at least partly because of the continuing tensions over Iran’s disputed nuclear program in the Persian Gulf region. From $21.4 billion of sales in 2010 the total for last year reached $66.3 billion, the largest for a […]

Citigroup Settles Suit For $590 Million

NEW YORK, (UPI) –  U.S. banking giant Citigroup said Wednesday it had agreed to a $590 million payment to settle allegations that it hid bank losses from shareholders in 2007. The class-action lawsuit said Citigroup “concealed the company’s failure to write down impaired securities containing subprime debt.” Citigroup reported a fourth quarter loss of $9.83 […]

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