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Forecasters Seeing Signs Of Economic Life

WASHINGTON (UPI) — U.S. economic forecasters say lower oil prices and gains in the automotive and housing sectors offer signs the economy will improve slightly in coming months. The New York Times said Friday economists expect growth to pick up over the next few months although the pace will remain sluggish. The consulting group Macroeconomic […]

JPMorgan Chase Boosts Loss Estimate

NEW YORK (UPI) — JPMorgan Chase says losses from a massive trading blunder in the bank’s London have reached $5.8 billion and could go as high as $7 billion. The bank Friday said it will be forced to restate its first-quarter results after it was discovered traders may have been trying to hide the losses […]

Peregrine CEO Arrested

CHICAGO (UPI) — Russell Wasendorf Sr., chief executive of Peregrine Financial Group Inc.,based in Iowa, was arrested Friday for allegedly lying to regulators, prosecutors said. Wasendorf’s first court appearance was scheduled for Friday in Cedar Rapids, Iowa, The Wall Street Journal reported. He is accused of making false statements to federal commodities market regulators regarding […]

FAA: Delta Faces Fines For Slow Repairs

WASHINGTON, (UPI) — U.S. airline regulators said Wednesday Delta Airlines could be fined almost $1 million for postponing repairs on two planes while the aircraft kept flying. In one case, the Federal Aviation Administration has assessed a fine of $687,500, CNN reported. It involves a Boeing 737 with chips in the nose cone in the […]

Companies Partner For Border Security

SCOTTSDALE, Ariz., (UPI) — A long-term partnering for border protection and security systems has been agreed to by General Dynamics C4 Systems and EADS North America. The agreement basically marries General Dynamics’ border protection systems with EADS sensor and radar capabilities and, they say, a “perfect match” for systems such as the Integrated Fixed Tower […]

Chevy Offers Money-Back Guarantee

DETROIT, (UPI) — General Motors is upping the incentives to get cars off U.S. dealership lots, including a money-back guarantee on Chevrolets, auto analysts say. GM has announced no-haggle pricing for its 2012 Chevys at participating dealers and is giving customers up to two months to return most models for a a cash refund, the […]

Lockheed Martin Cuts Workers

WASHINGTON, (UPI) — Faced with shrinking defense and equipment acquisition budgets Lockheed Martin has cut its workforce by 5 percent in one business sector. The affected area is the company’s Mission Systems & Sensors business unit. Lockheed said this week it had sent pink slips to 308 U.S.-based MSS employees. In May, under a voluntary […]

Nemo Unveils New Troop Shelters

DOVER, N.H., (UPI) — A U.S. company that produces tents and backcountry sleep systems has launched a new product line for the military – the Advanced Linking Combat Shelters. According to Nemo Equipment Inc., the Advanced Linking Combat Shelters, the 1P SE and 2P SE, are a significant improvement over systems currently in use by […]

More Disclosure Proposed For Mortgages

WASHINGTON (UPI) — The Consumer Financial Protection Bureau proposed new rules for U.S. mortgage lenders that would better prepare buyers for potentially unpleasant surprises. The bureau said Monday its proposals were aimed at providing consumers with a simpler picture of how much their loan will cost them over the years so they can avoid finding […]

Economists Favor Keeping Bush Tax Cuts

WASHINGTON (UPI) — A survey of economists said extending President George W. Bush’s controversial tax cuts would be a good way to stoke the U.S. economy. CNNMoney asked 15 economists to rank the proposed steps Congress could take to help spur on the recovery, and nine endorsed extending the Bush cuts, which are due to […]

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