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Facebook acquires FriendFeed for $47.5M

PALO ALTO, Calif., Aug. 16 (UPI) — The U.S. social networking Web site Facebook has purchased the social aggregator FriendFeed for $47.5 million, The Washington Post said Sunday.

Author says she was Madoff’s mistress

NEW YORK, Aug. 16 (UPI) — Bernard Madoff had a two-decade affair with the chief financial officer of a charity that invested tens of millions of dollars with him, a new book says.

Non-alcoholic drinks a hit in Sweden

STOCKHOLM, Sweden, Aug. 15 (UPI) — Sales of non-alcoholic products in Sweden by the country’s retail alcohol monopoly have increased dramatically so far in 2009, figures show.

California man pleads in Swiss bank case

MALIBU, Calif., Aug. 15 (UPI) — A California man has agreed to plead guilty to stashing at least $1 million in a Swiss bank without paying U.S. taxes, federal prosecutors said.

Swedish consortium a possible Volvo bidder

GOTHENBURG, Sweden, Aug. 15 (UPI) — A primarily Swedish consortium eyeing a possible bid to buy Volvo Cars from Ford Motors has the support of a Volvo workers union, a business daily reports.

Lobstermen face low prices, tough economy

MARSHFIELD, Maine, Aug. 15 (UPI) — Maine lobstermen are facing hard times as Americans cut back on consumption of the seafood delicacy and prices fall, industry players say.

Colonial BancGroup sold to BB&T

MONTGOMERY, Ala., Aug. 15 (UPI) — The Federal Deposit Insurance Corp. says it has sold failed southern U.S. bank Colonial BancGroup Inc. to BB&T Corp.

Hyundai leader extends N. Korea visit

PYONGYANG, North Korea, Aug. 15 (UPI) — The chairwoman of South Korea’s Hyundai Group is staying longer than planned in North Korea, awaiting a chance to see leader Kim Jong Il, officials say.

UPI NewsTrack Business

Back-to-school shopping season a bust … More Americans are ditching landlines … Three Madoff homes to be auctioned off … ‘Relaxation drinks’ touted as newest thing … News from United Press International.

UBS deal called drag on Swiss government

ZURICH, Switzerland, Aug. 15 (UPI) — UBS Ag has become a liability for the Swiss government as the United States pressures it to relax its strict banking secrecy laws, analysts say.

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