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NEW YORK, March 9 (Xinhua) -- The U.S. stocks dropped on Wednesday, the two-year anniversary of the beginning of a bull market, as concerns of oil prices and Middle East unrest continued to weigh on investors' minds.U.S. crude oil price dipped on Wednesday as crude inventories rose more than expected, though Brent crude rose on fears caused by continued violence in Libya.Meanwhile, Rex Tillerson, the CEO of energy giant Exxon Mobil Corp., said on Wednesday that he didn't think the recent jump in oil prices was hurting the U.S. economy just yet, but it's getting close.The market was worrying that the surging oil prices would hurt global economic recovery. Adding to those concerns, the Portuguese government's two-year cost of borrowing hit the highest level since it joined the eurozone in a bond auction on Wednesday.Wednesday marked the two-year anniversary of the beginning of a bull market. On March 9, 2009, the Dow Jones Industrial Average closed at 6,547 and the Standard & Poor's 500 Index closed at 677. The Dow is back above 12,000 now and the S&P 500 index has almost doubled.Meanwhile, the wholesale report was slightly positive, but still failed to boost the market. According to the U.S. Commerce Department, the wholesale inventories climbed 1.1 percent in January. Sales at the wholesale level rose 3.4 percent, the largest gain since November 2009.Economists expected that as businesses kept expanding, demands for products would continue to grow. And larger sales may also encourage businesses to keep restocking their shelves and boost factory production.According to the report, a 10.6-percent rise in demand for petroleum helped lift sales, reflecting higher oil and gas prices.While some investors were concerned that surging oil prices might have a negative impact on economy, some others believed the boost in sales and inventories in January hinted that the economy could withstand the impact.The Dow Jones industrial average lost 1.29 points, or 0.01 percent, to 12,213.09. The Standard & Poor's 500 Index was down 1. 80 points, or 0.14 percent, to 1,320.02. The Nasdaq declined 14.05 points, or 0.51 percent, to 2,751.72.

HOUSTON, April 15 (Xinhua) -- A major contractor for the U.S. space shuttle on Friday announced plans to lay off about 50 percent of its employees this summer after NASA retires the orbiter fleet.The contractor, Houston-based United Space Alliance, said it will cut 2,600 to 2,800 jobs, including 1,850 to 1,950 employees in Florida, 750 to 800 employees in Texas, and 30 to 40 employees in Alabama, "due to the completion of tasks related to day-to-day operations of the Shuttle fleet."The cuts will be made in late July and early August after NASA completes the final flight of Endeavour, scheduled for April 29, and the flight of Atlantis on June 28."The accomplishments of this team are unmatched in human spaceflight," Virginia Barnes, the company's president, said in a news release. "It will be difficult to say goodbye to such tremendously talented and dedicated teammates, and we are committed to making this transition as smooth as possible for them."United Space Alliance has approximately 5,600 employees working at sites in Texas, Florida and Alabama, according to the the news release.

BEIJING, Feb. 25 (Xinhua) -- China's top legislature on Friday ended its bimonthly session, adopting a series of bills including a law on vehicle and vessel taxation, which is aimed at standardizing taxation and promoting environmental awareness and energy efficiency.The National People's Congress (NPC) Standing Committee also voted to adopt an amendment to the Criminal Law which reduces the number of crimes punishable by death by 13 to 55.Moreover, it passed the country's first law on intangible cultural heritage protection, which is expected to better preserve heritages of historic, literary, artistic or scientific value.At the session that opened on Wednesday, lawmakers validated the dismissal of Liu Zhijun from his post as the railways minister and appointed Sheng Guangzu, the former head of the General Administration of Customs, to replace Liu.The discipline watchdog of the Communist Party of China (CPC) said on Feb. 12 that Liu was under investigation for alleged "severe violation of discipline," while the CPC Central Committee's Organization Department said he had been removed from the post of the ministry's Party chief.Wu Bangguo, chairman of the NPC Standing Committee, said at the closing of the bimonthly session that the democratic rights of NPC members should be fully respected and guaranteed during the upcoming NPC plenary session.On Friday afternoon, the members of the NPC Standing Committee attended a lecture on China's water conservancy development.

WASHINGTON, March 30 (Xinhua) -- A trace amount of radioactive iodine has been found in a sample of milk from the west state of Washington, the U.S. Environmental Protection Agency and the Food and Drug Administration (FDA) said Wednesday.According to a joint statement from the two agencies, results from a screening sample taken March 25 from Washington detected 0.8 pCi/L of iodine-131, which is more than 5,000 times lower than the Derived Intervention Level set by the FDA.These types of findings are to be expected in the coming days and are far below levels of public health concern, including for infants and children, the statement said.Iodine-131 has a very short half-life of approximately eight days, and the level detected in milk and milk products is therefore expected to drop relatively quickly."Radiation is all around us in our daily lives, and these findings are a minuscule amount compared to what people experience every day. For example, a person would be exposed to low levels of radiation on a round trip cross country flight, watching television, and even from construction materials," said Patricia Hansen, an FDA senior scientist.

BEIJING, Feb. 20 (Xinhua) -- Chinese Vice Premier Wang Qishan on Sunday called for sound and fast development of the nation's tourism industry as he called it a strategic pillar of the national economy.The tourism industry has huge potential, which needs further opening up, reform and innovation. Market should play a fundamental role in allocating the resources, Wang told a meeting of tourism work.He stressed the diversified needs of customers should be met, and the market order should be standardized to protect customer's legitimate rights."Local authorities should work together to make tourism a strategic pillar industry," he said.Wang also noted tour guide forces play a very important role in the industry development.More training should be arranged in the areas of professional skills and ethics, as well as response to emergencies.The wage and social security system of the work force should also be improved, he said.