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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 […]

Consumer Confidence Heads Higher

NEW YORK, Feb. 28 (UPI) — Consumer confidence in the United States regained some lost ground in February, the Conference Board said Tuesday. The index, which hit a two-year low in August, then posted gains in September, November and December, sliding a touch in October and January. But the index that assigns 1985 a base […]

Pending Home Sales Up In January

WASHINGTON (UPI) — A pending U.S. home sales index climbed 2 percent in January, the National Association of Realtors said Monday. The Pending Home Sales Index reached 97 with a climb that was twice the rate economists had expected. The NAR revised December’s pending home sales index to 95.1. The index in January reached 97, […]

Workers Return To Lower Wages

WASHINGTON (UPI) — U.S. economists say the millions of people looking for work are collectively eroding the compensation offered by employers. “If your employer knows you don’t have outside options, it reduces your bargaining power,” said economist Heidi Shierholz at the Economic Policy Institute in Washington. MartketWatch reported Monday economist Henry Farber at Princeton University […]

Automakers Throttle Back On Options

DETROIT, Feb. 27 (UPI) — Automakers are finding fewer options for customers means lower costs and fewer headaches for U.S. auto dealers, experts said. Different configurations for trim and extra features can create thousands of customized combinations for a vehicle mixing and matching sound systems, paint color and trim. But the trend now is to […]

Bank Fees Chase Customers Away

THOUSAND OAKS, Calif. (UPI) — A growing number of U.S. consumers pulled up stakes at their banks and switched to different financial institutions last year, a research firm said. A study by J.D. Powers & Associates of Thousand Oaks, Calif., found that 9.6 percent of bank customers switched banks in 2011, up from 8.7 percent […]

Buffett: Some Evicted Homeowners Won

NEW YORK (UPI) — Billionaire investor Warren Buffett said some people who lost their homes when the financial crisis hit came out ahead while their banks did not. In an annual letter to shareholders, Buffett said it was a “largely unnoted fact: Large numbers of people who have ‘lost’ their house through foreclosure have actually […]

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