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Geithner To Remain As Treasury Secretary

WASHINGTON, Aug. 8 (UPI) — U.S. Treasury Secretary Timothy Geithner has told President Obama he plans to stay in his job through the fall of 2012. Geithner has been battling the U.S. economic crisis since 2007, first as a Federal Reserve official then as Treasury secretary, and had considered leaving after Congress raised the debt […]

Fannie Mae Posts More Big Losses

WASHINGTON, Aug. 6 (UPI) — Fannie Mae posted a $2.9 billion net loss for the second quarter and has now had losses in 15 of the last 16 quarters, U.S. officials said. The government-backed mortgage agency will ask the U.S. government for another $2.8 billion in bailout funds after it makes its quarterly dividend payments […]

Gold, Silver Lose Luster

NEW YORK, Aug. 5 (UPI) — Gold futures settled lower Friday on the Comex division of the New York Mercantile Exchange but still finished up for the week. Gold fell $7.20, or 0.4 percent, to $1,651.80 an ounce. However, for the week, gold prices gained 1.3 percent as investors worried about whether the global economy […]

Bell Boeing Submits New Osprey Proposal

PATUXENT RIVER, Md., Aug. 5 (UPI) — The Bell Boeing V-22 Osprey program has submitted a proposal to the U.S. government for a second multiyear contract to produce the aircraft. Work on the V-22 under the first award, which runs to fiscal year 2012, is on-time and under budget the company said. Under that contract, […]

Online Brand Ad Model Adapted To Politics

LOS ANGELES, Aug. 5 (UPI) — SocialVibe, a leading U.S. digital advertising company, said it launched political advertising tailored to campaigns and political action committees. SocialVibe’s engagement ads are used by many of the world’s largest brands to offer people something of value for interacting with an ad. The political ad product presents messaging to […]

USPS Posts $3.1 Billion Loss In Latest Quarter

WASHINGTON, Aug. 5 (UPI) — The U.S. Postal Service said it lost $3.1 billion in the third quarter and warned a default on federal payments was possible without congressional action. The third-quarter financial statement reflected the “anemic state of the economy” of the past three months and the growth of electronic communication at the expense […]

Deal Reached On Voting For 3 Trade Pacts

WASHINGTON, Aug. 5 (UPI) — U.S. Senate leaders said they reached agreement to bring three long-delayed trade deals up for a vote when Congress returns from its August recess. As part of the deal, Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell also agreed to vote on the Trade Adjustment Assistance program, which […]

Cobham Gets Missile Defense Awards

ARLINGTON, Va., Aug. 5 (UPI) — Cobham Analytic Solutions has been awarded nine task orders for engineering support to the U.S. Missile Defense Agency. The orders carry a combined total of $227 million over two years. The task order awards were competed under the MDA Engineering and Support Services omnibus contract vehicle and covers support […]

U.S. Unemployment Dips To 9.1 Percent

WASHINGTON, Aug. 5 (UPI) — The United States added 117,000 jobs in July and the unemployment rate dropped from 9.2 percent to 9.1 percent, the Labor Department said Friday. Job gains in May and June were revised upward by a combined 56,000, the department said. Private-sector companies hired 154,000 workers but governments at all levels […]

Small Businesses Said Best For Growth

UNIVERSITY PARK, Pa., Aug. 4 (UPI) — Small local businesses, not big nationwide companies, could be the key for communities to ignite long-term economic growth, U.S. economists say. Economists at Penn State University say small, locally owned businesses and startups usually generate higher incomes in a community, whereas big, non-local companies can actually depress a […]

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