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Foreclosure-Related Sales At 24 Percent

IRVINE, Calif. (UPI) — Nearly a quarter of all U.S. home sales in the fourth quarter involved distressed properties in some stage of foreclosure, private firm RealtyTrac said. RealtyTrac, an online marketplace for properties in foreclosure, said 24 percent of home sales in October through December involved homes either owned by lenders or in some […]

Trump To Purchase Doral Golf Resort

MIAMI, Feb. 28 (UPI) — Developer Donald Trump said his company would purchase the Doral golf resort in Miami out of bankruptcy for $150 million. The purchase will include the 692-room hotel that will be the largest in Trump’s impressive portfolio of properties, The Miami Herald reported Tuesday. Trump said he would put an additional […]

Rising Costs Imperil U.S.-Japan Jet Deal

TOKYO (UPI) — Japan might reconsider the deal if the price of Tokyo’s proposed purchase of U.S.-made F-35 Lightning II stealth jet fighters rise or delivery is delayed. “If the U.S. side makes an unrealistic proposal, we will cancel the purchase or consider (purchasing) other types of aircraft,” Japanese Defense Minister Naoki Tanaka told the […]

GDP Estimate Up To 3 Percent For Quarter

WASHINGTON (UPI) — The U.S. Commerce Department revised the fourth quarter gross domestic output estimate from 2.8 percent to 3 percent in a report issued Wednesday. The figure shows a further jump from the 1.8 percent growth of the third quarter. Economists had not expected an upward revision from the previous report in Wednesday’s release, […]

ECB Puts $713 Billion Into Circulation

FRANKFURT, Germany (UPI) — The European Central Bank said its emergency liquidity program loaned $713 billion to 800 banks, numbers that exceeded the banks’ December loan bonanza. In December, 523 banks participated in a low-interest loan program that put $655 billion into circulation, The New York Times reported Wednesday. The latest round of borrowing involved […]

Bernanke: Spike In Gas Prices To Fade

WASHINGTON (UPI) — U.S. Federal Reserve Chairman Ben Bernanke applauded recent financial policies in Europe Wednesday and said the gasoline price spike would be temporary. Describing the U.S. economic recovery as “uneven,” Bernanke said the Fed expects unemployment “to edge down only slowly towards levels consistent with the (Federal Open Market) Committee’s statutory mandate.” With […]

Iran Able To Manufacture Satellite Parts

TEHRAN, Feb. 28 (UPI) — Iran’s aerospace industry has evolved to the point where it can manufacture indigenous satellite components. Iran Electronic Industries Executive Director Ebrahim Mahmoudzadeh said Iranian aerospace specialists are able to manufacture all satellite devices and equipment and the country is capable of manufacturing all a satellite’s necessary components. “Some people still […]

Durable Goods Orders Sink 4 Percent

WASHINGTON (UPI) — U.S. durable goods orders dropped 4 percent in January, the sharpest decline in three years, the Commerce Department said Tuesday. After rising 3 percent in December, new orders for U.S. factories fell to $206.1 billion from $214.5 billion. As of January, new orders are down two of the past seven months, but […]

Home Price Indexes Fell In December

NEW YORK (UPI) — U.S. home prices declined in a 10-city index and in an encompassing 20-city composite index in December, the monthly S&P/Case-Shiller report said. The 20-city index fell from 137.31 to 136.63. The 10-city home price index dropped from 150.54 to 149.76. For both the 10-city and 20-city indexes, it was the eighth […]

AK-47 To Be Upgraded

IZHEVSK, Russia, Feb. 28 (UPI) — Russia’s AK-47, the world’s most popular assault rifle, is to receive an upgrade. The Russian Federation’s Izhmash Machine Building Plant factory in Udmurtia, which manufactures the AK-47, announced that the new version, designated the AK-12 is under development, The Guardian newspaper reported Tuesday. Among the changes, the AK-12 can […]

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