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Gap woes deepen in bleak holiday season
Jan 4 2007 9:43PM (CT)
SAN FRANCISCO (AP) - Gap Inc. suffered through a miserable holiday shopping season that will decimate its fourth-quarter profit, raising investor hopes for a management shake-up or an opportunistic bid to buy the long-slumping retailer.
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Stores report disappointing Dec. sales
Jan 4 2007 8:45PM (CT)
NEW YORK (AP) - December's lackluster retail sales left the nation's merchants wondering Thursday about their chances for a turnaround in 2007 _ even as several big merchants were scaling back their fourth-quarter earnings expectations.
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Japanese stocks lower, dollar down
Jan 4 2007 7:49PM (CT)
TOKYO (AP) - Japanese stocks fell Friday morning on profit-taking ahead of a three-day weekend. The dollar was lower against the yen.
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Shoppers not sold on new Macy's stores
Jan 4 2007 6:38PM (CT)
CINCINNATI (AP) - Federated Department Stores Inc. still hasn't sold shoppers at former May stores on their new Macy's replacement.
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Boeing announces record 2006 jet orders
Jan 4 2007 6:37PM (CT)
CHICAGO (AP) - Boeing Co. reported a record 1,044 commercial airplane orders for 2006 Thursday, all but formally regaining the lead from troubled Airbus in the important sales category amid strong demand for its fuel-conscious 787 Dreamliner and single-aisle 737.
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FAA: Atlanta airport is nation's busiest
Jan 4 2007 6:34PM (CT)
ATLANTA (AP) - For the second year in a row, Hartsfield-Jackson Atlanta International Airport has retained its title as the nation's busiest in terms of flights, according to government data released Thursday.
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Crude settles at lowest level since 2005
Jan 4 2007 6:25PM (CT)
NEW YORK (AP) - Oil prices shed more than $2 Thursday to settle at their lowest level since June 2005, after the U.S. government reported higher-than-expected inventories of gasoline, heating oil and diesel fuel amid warm winter temperatures.
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Assets in retail money market funds rise
Jan 4 2007 6:17PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds rose by $9.01 billion in the latest week to $973.78 billion, the Investment Company Institute said Thursday.
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Thursday's commodities roundup
Jan 4 2007 6:15PM (CT)
NEW YORK (AP) - Precious metals traveled in opposite directions Thursday, with gold weakening along with the euro and crude oil but silver bouncing. Copper extended a drop in the previous session to hit the lowest level since April.
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Factory orders rise less than expected
Jan 4 2007 5:55PM (CT)
WASHINGTON (AP) - Economic indicators flashed mixed signals Thursday, with retailers reporting disappointing holiday results, service industries slowing at year's end and factory orders falling.
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ConocoPhillips says 4Q margins off
Jan 4 2007 5:44PM (CT)
HOUSTON (AP) - ConocoPhillips shares fell Thursday after the oil company said its fourth-quarter refining and marketing margins are expected to be significantly lower than in the third quarter.
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ConocoPhillips says 4Q margins off
Jan 4 2007 5:44PM (CT)
HOUSTON (AP) - ConocoPhillips shares fell Thursday after the oil company said its fourth-quarter refining and marketing margins are expected to be significantly lower than in the third quarter.
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Treasury bonds rise on housing report
Jan 4 2007 5:36PM (CT)
NEW YORK (AP) - U.S. Treasurys prices rose modestly Thursday, as both the latest housing and service-sector reports came in a bit below expectations.
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Rates on 30-year mortgages unchanged
Jan 4 2007 5:33PM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages were unchanged in the first week of the new year after posting three consecutive increases to close out 2006.
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Dollar gains against euro and pound
Jan 4 2007 5:19PM (CT)
NEW YORK (AP) - The dollar rose against the euro and pound Thursday, buoyed by foreign investors buying U.S. investments amid disappointing economic data.
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Constellation Brands 3Q profit edges up
Jan 4 2007 5:10PM (CT)
FAIRPORT, N.Y. (AP) - Constellation Brands Inc., the world's biggest winemaker, said Thursday its profit edged up 1 percent in its third quarter, helped by sales of imported beer and branded wine but crimped once more by heightened competition in Britain.
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Monsanto 1Q profit rose 53 percent
Jan 4 2007 5:07PM (CT)
ST. LOUIS (AP) - Monsanto Co. reported Thursday its fiscal first-quarter earnings surged 53 percent and the world's biggest seed company said strong early orders for next year's crop suggest it will hit the high end of its earnings guidance for the full year.
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Express Scripts woos Caremark owners
Jan 4 2007 4:49PM (CT)
NASHVILLE, Tenn. (AP) - Express Scripts Inc., which has launched a hostile bid for rival pharmacy benefits manager Caremark Rx Inc., took its case directly to Caremark shareholders Thursday, urging them in a letter to vote against a buyout offer from CVS Corp.
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FTC fines weight loss pill firms $25M
Jan 4 2007 4:48PM (CT)
WASHINGTON (AP) - Now that you've indulged in all those holiday goodies and made that New Year's resolution to shed some pounds, the government says don't count on a diet pill to help.
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Ukraine survives despite gas price hike
Jan 4 2007 3:03PM (CT)
KIEV, Ukraine (AP) - The warnings in Ukraine verged on the apocalyptic when Russia sharply raised prices for natural gas a year ago. Many feared factories would close, leading to mass layoffs and grinding industry to a halt. But Ukraine's economy leaped ahead, its businesses quickly adapting to the higher costs.
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Ukraine survives despite gas price hike
Jan 4 2007 3:03PM (CT)
KIEV, Ukraine (AP) - The warnings in Ukraine verged on the apocalyptic when Russia sharply raised prices for natural gas a year ago. Many feared factories would close, leading to mass layoffs and grinding industry to a halt. But Ukraine's economy leaped ahead, its businesses quickly adapting to the higher costs.
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Firms woo customers with hand sanitizers
Jan 4 2007 2:52PM (CT)
FAYETTEVILLE, Ga. (AP) - In a Jan. 3 story about businesses offering hand sanitizers to customers, The Associated Press erroneously reported the source of data on hand sanitizer sales in the U.S. That information was from Information Resources, Inc., not ACNielsen as reported.
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Firms woo customers with hand sanitizers
Jan 4 2007 2:52PM (CT)
FAYETTEVILLE, Ga. (AP) - In a Jan. 3 story about businesses offering hand sanitizers to customers, The Associated Press erroneously reported the source of data on hand sanitizer sales in the U.S. That information was from Information Resources, Inc., not ACNielsen as reported.
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Growth in service sector slows in Dec.
Jan 4 2007 2:31PM (CT)
WASHINGTON (AP) - The U.S. service sector expanded at a slower rate in December than in the previous month, a trade group said Thursday, signaling a cooling of a critical component of overall economic growth.
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Lilly to settle more Zyprexa lawsuits
Jan 4 2007 1:47PM (CT)
INDIANAPOLIS (AP) - Eli Lilly and Co. said Thursday it will settle about 18,000 additional lawsuits alleging the drugmaker did not adequately warn patients that its anti-psychotic medication Zyprexa carries a heightened risk of diabetes.
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Eli Lilly settling more Zyprexa suits
Jan 4 2007 11:06AM (CT)
NEW YORK (AP) - The drugmaker Eli Lilly and Co. said Thursday it will settle more liability lawsuits for its anti-psychotic medication Zyprexa for less than $500 million.
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Goodyear cutting work at Canadian plant
Jan 4 2007 11:05AM (CT)
AKRON, Ohio (AP) - Goodyear Tire & Rubber Co. will halt tire production at its Valleyfield, Quebec, plant and trim the work force there to 200 from 1,000 by June 30, the tiremaker said Thursday.
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KPMG acquitted in Norway bankruptcy case
Jan 4 2007 7:04AM (CT)
OSLO, Norway (AP) - A partner with accounting firm KPMG was sentenced to 30 days in jail Thursday for negligent accounting in one of this country's worst bankruptcies, while the Norwegian branch of the firm was acquitted.
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Antibiotics said costly to poultry farmers
Jan 4 2007 5:31AM (CT)
SPRINGFIELD, Mo. (AP) - Antibiotics in chicken feed have long been targeted by critics as a health issue, but a new study by Johns Hopkins University researchers says they also are a money-loser for poultry farmers.
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Ford CEO cancels order for Lexus
Jan 4 2007 1:25AM (CT)
DEARBORN, Mich. (AP) - Ford CEO Alan Mulally said he respects Toyota and its luxury brand, but that he canceled his order for a Lexus after taking the top job at the U.S. automaker. He said traveled to Japan last month to meet with Toyota executives just to show his appreciation, and not in an effort to bring the companies any closer.
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Ads ask jewelers to boycott Alaska mine
Jan 4 2007 12:45AM (CT)
ANCHORAGE, Alaska (AP) - An ad campaign launched this week is asking jewelers to boycott gold from a proposed open pit mine that many Alaska Natives fear will ruin their way of life.
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Jeff Bezos shows off spacecraft test
Jan 4 2007 12:42AM (CT)
HOUSTON (AP) - Amazon.com founder Jeff Bezos is asking engineers to join his fledgling and secretive private aerospace business, breaking a long silence about his operation in a remote section of West Texas by posting photos and videos on the company's Web site of a test launch of a reusable spacecraft.
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Britain debates key globalization puzzle
Jan 4 2007 12:37AM (CT)
LONDON (AP) - Headlines ahead of the New Year portrayed a country of job seeking-Britons brushed aside by Bulgarians and overrun by Romanians.
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Auto executives see more bankruptcies
Jan 4 2007 12:27AM (CT)
DETROIT (AP) - Auto executives worldwide expect slower North American sales growth and more parts supplier bankruptcies during the next five years, according to a survey taken by the auditing and consulting firm KPMG LLP.
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