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India Now World’s Leading Arms Importer

STOCKHOLM, Sweden (UPI) — Sweden’s International Peace Research Institute, which tracks the global arms trade, reports that India is the world’s leading arms importer. SIPRI’s latest report notes that for the period 2007-11, India accounted for 10 percent of global arms imports. While the bulk of India’s foreign weapons came from the Russian Federation, including […]

Housing Starts Slide, But Permits Are Up

WASHINGTON (UPI) — New home construction starts in the United States fell 1.1 percent January to February, the Commerce Department said Tuesday. Housing starts dropped to a seasonally adjusted annual rate of 698,000, compared with a upwardly revised figure for January of 706,000. The rate of single-family housing starts in the month was 457,000, which […]

Poll: Alternative Energy Loses Support

WASHINGTON (UPI) — Support for development of fuel sources such as wind and solar power has diminished in the United States during the past year, a survey found. The March 7-11 poll, conducted by the Pew Research Center for People & the Press, found 52 percent of those responding indicated support for alternative fuel was […]

UPS Buying TNT Express For $6.77 Billion

ATLANTA (UPI) — United Parcel Service Inc. has agreed to buy European rival TNT Express NV for $6.77 billion in an all-cash offer, the firms announced Monday. The deal for the Dutch logistics company will extend the presence of Atlanta’s UPS in China and in Latin America. It will also create a mega-firm with $60 […]

TaxMasters Files For Bankruptcy

HOUSTON (UPI) — Nationally advertised income tax consulting firm TaxMasters Inc., which is under suspicion of fraud in Texas, has filed for bankruptcy, court papers show. The company, which is based in Houston, is the defendant in a multi-count civil case filed by Texas Attorney General Greg Abbot. Abbott has charged the firm with misleading […]

Google Pledges To Help With Privacy Probe

MOUNTAIN VIEW, Calif. (UPI) — Internet giant Google said it would cooperate with U.S. and European regulators investigating whether it violated privacy laws. Google has already admitted it did an end run around privacy settings on Apple’s Safari Web browser so it could use a “+1″ button on some of its ads that would allow […]

14 Employees Lose Jobs Over Orange Shirts

DEERFIELD BEACH, Fla. (UPI) — Fourteen employees of a Deerfield Beach, Fla., law firm say they found themselves out of jobs after management mistook their orange shirts for a protest. The employees told the South Florida Sun Sentinel they all wore orange on payday Fridays so they would look like a group when they went […]

Youngest Seniors Getting Reverse Mortgages

WESTPORT, Conn. (UPI) — Twenty percent of U.S. adults who get a reverse mortgage are baby boomers ages 62-64, a much younger demographic than before, insurance officials said. Sandra Timmermann, director of the MetLife Mature Market Institute, said the special types of home loans that allow people to get payments from their home equity, evolved […]

Builder Confidence Unchanged In March

WASHINGTON (UPI) — U.S. builders remain cautious about the health of their industry, a national housing market index indicated. The National Association of Home Builders/Wells Fargo Housing Market Index was unchanged in March, holding at 28 after six consecutive months of gains. The break-even point on the index is 50 points. Below 50 means more […]

$25 Billion Made On Housing Market Rescue

WASHINGTON (UPI) — The U.S. Treasury said Monday it made a $25 billion profit on $225 billion invested in mortgage-backed securities during the financial crisis. The government began selling securities last year that were backed by the Federal Home Loan Mortgage Corp., known as Freddie Mac, and the Federal National Mortgage Association, known as Fannie […]

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