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After Iran Strike, Israel Gets Cyber Unit

TEL AVIV, Israel, Aug. 16 (UPI) — Israel’s military has set up a cyberdefense division, primarily against the Iranian threat, thus boosting the country’s cyberwar capabilities after it allegedly attacked Tehran’s nuclear program in 2010 with the Stuxnet virus and changed the face of warfare. The Jerusalem Post reports that the new unit in the […]

Housing Starts Slide Slightly In July

WASHINGTON, Aug. 16 (UPI) — New home construction in the United States dropped 1.5 percent in July compared to June, the Commerce Department said Tuesday. Housing starts fell to a seasonally adjusted annual rate of 604,000, off from the revised June estimate of 613,000. Permits issued for privately owned housing units also fell compared to […]

Fitch Says U.S. Credit Rating Is Top Shelf

NEW YORK, Aug. 16 (UPI) — Fitch Ratings said the United States’ credit rating would remain at the top ranking of AAA and said its outlook remained stable. The affirmation comes just over a week after Standard & Poor’s downgraded the U.S. rating from Triple A to AA+, which triggered enormous upheaval in the stock […]

Europe’s GDP Growth Falls To 0.2 Percent

BRUSSELS, Aug. 16 (UPI) — The European Union’s economy grew 0.2 percent in the second quarter compared to the first, the statistical agency Eurostat said Tuesday. The economy grew 1.7 percent over the past 12 months, Eurostat said. The numbers were identical to quarter-to-quarter and year-over-year figures for the 17-member eurozone, which shares the euro […]

Retailers Expect Flat Back-to-school Sales

WASHINGTON, Aug. 15 (UPI) — A national trade group said U.S. retailers could expect back-to-school sales on par with 2010 or just slightly under that. The National Retail Federation predicted back-to-school shopping to average $604 per family, just $2 shy of what was predicted a year ago, The Detroit News reported Monday. Many stores this […]

Moody’s Says U.S. Growth Likely Diminished

NEW YORK, Aug. 15 (UPI) — A second rating service has lowered its expectations of the U.S. economy, saying the prospects of a substantial recovery soon have declined. Moody’s Analytics, which The Wall Street Journal defines as “a sister company to credit-ratings company Moody’s Investors Service,” has lowered its forecast for the real U.S. gross […]

Homeowners Go For Shorter Loans

WASHINGTON, Aug. 15 (UPI) — Nearly 40 percent of U.S. homeowners refinancing in the second quarter chose shorter loans, the Federal Home Loan Mortgage Corp. said Monday. Freddie Mac said 37 percent of those people off 30-year loans in a refinancing deal in the quarter chose a 15- or 20-year loan. It was the highest […]

Buffett Says Congress Coddles The Rich

NEW YORK, Aug. 15 (UPI) — Billionaire investor Warren Buffett said Congress has for too long spared the wealthiest Americans from paying their fair share in U.S. taxes. “I know well many of the mega-rich and, by and large, they are very decent people. They love America and appreciate the opportunity this country has given […]

SEC To Look At S&P Downgrade Of U.S. Debt

WASHINGTON, Aug. 13 (UPI) — Regulators will examine the straw that broke the Wall Street camel’s back, S&P’s downgrade of U.S. debt from AAA to AA+, sources told The Wall Street Journal. The U.S. Treasury Department has said the downgrade by credit rating agency Standard & Poor’s is the result of a $2 trillion mathematical […]

Wall Street Gyrations Jolt Luxury Retail

LOS ANGELES, Aug. 13 (UPI) — Wild swings in the stock market have luxury retailers worried a slowing economy may buckle leaving those who cater to wealthy U.S. shoppers high and dry. “We were all pumped, and now it’s like, boom. Another hit,” said Pol Atteu, who runs a women’s boutique in Beverly Hills, Calif., […]

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