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U.S. Drought Sparks Global Food Price Hike

UNITED NATIONS (UPI) — The drought afflicting the U.S. midsection is causing food prices to rise globally, the United Nations said Thursday. The United Nations’ monthly Food Price Index indicated food prices rose 6 percent in July after three months of decline, CNNMoney reported. Record-high grain prices, specifically corn prices, were blamed for the increase. […]

Fixed Mortgage Rates Inch Up

MCLEAN, Va. (UPI) — Fixed rates for U.S. home loans rose higher because of the recent stronger-than-expected employment report, Freddie Mac reported Thursday. The 30-year fixed averaged 3.59 percent and the 15-year fixed averaged, 2.84 percent, still near the historic low, the Federal Home Loan Mortgage Corp., based in McClain, Va., said in a release. […]

Banks Profiting From Low Home Loan Rates

NEW YORK (UPI) — Low interest rates are increasing mortgage profits for U.S. banks, analysts say. Mortgage bankers know they’re making big gains from home loans but say they can’t afford to cut, blaming tougher regulations for higher expenses, The New York Times reported Thursday. “There is a much higher cost to originating mortgages relative […]

American Airlines Pilots Reject Contract

FORT WORTH, Texas, (UPI) — The American Pilots Association, representing Texas-based American Airlines, voted down a tentative contract offer. The vote was 2,935 pilots approving the agreement and 4,500 pilots rejecting it, APA said on its Web site. Before the vote, APA officials told members that Chapter 11 bankruptcy restructuring of American Airlines “was a […]

Marines Test Unmanned Ground Vehicles

OSHKOSH, Wis., (UPI) — Unmanned ground cargo vehicles deployed in convoy formation have been tested by the U.S. Marine Corps and Oshkosh Defense. The Wisconsin company said the convoy test, in which the vehicles were equipped with its TerraMax UGV technology, was a continuation of the Marine Corps Warfighting Lab’s Cargo UGV initiative. “Seven Marines […]

Crude Oil Continues Its Price Climb

NEW YORK, (UPI) — Light sweet crude oil advanced in early trading Wednesday on the New York Mercantile Exchange, adding 21 cents to $93.88 a barrel. Natural gas prices were off 3 cents, to $2.932 per million British thermal units. Reformulated blendstock gasoline picked up just more than a penny to $2.0062 a gallon. Home […]

Bernanke: Fed Never Influenced By Politics

WASHINGTON, (UPI) — Federal Reserve Chairman Ben Bernanke said the U.S. central bank is never swayed by political pressures and declared Europe needed its own version of the Fed. “It really helps an economy to have a strong and independent central bank,” Bernanke told public educators at the Fed town hall-style meeting in Washington and […]

Microsoft Tablet Worries Partner Companies

REDMOND, Wash., (UPI) — Taiwanese computer maker Acer is urging Microsoft to “think twice” about bringing out its Surface tablet computer in competition with its own partners. While Microsoft’s hopes to compete with the iPad and Android tablets on the market, the Surface will also be competing with similar devices from Microsoft’s own OEM hardware […]

eBay To Offer Same-Day Delivery

SAN FRANCISCO, (UPI) — U.S. online auction and sales site eBay says it is testing a system that will allow same-day shipping of goods purchased from local retailers. Although the service, called eBay Now, is still in beta testing, the company began sending invitations Sunday to eBay users in San Francisco that will allow them […]

Community Development Banks Receive Awards

WASHINGTON, (UPI) — The U.S. Treasury Department announced Monday more than $186 million in awards were made to 210 organizations serving low-income communities. The awards, provided through two programs, are the largest single announcement of award monies and recipients in the Community Development Financial Institutions Fund’s history, the Treasury Department said in a release. The […]

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