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Sprint to cut 5,000 jobs; Stock plunges
Jan 8 2007 11:01PM (CT)
RESTON, Va. (AP) - Sprint Nextel Corp. reported Monday that its cell phone business suffered a net loss of 300,000 monthly subscribers in the fourth quarter and that the struggling wireless company will cut 5,000 jobs.
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Woman sues Kraft over Capri Sun labels
Jan 8 2007 9:06PM (CT)
NORTHFIELD, Ill. (AP) - A Florida woman is suing Kraft Foods Inc., accusing the Northfield-based company of mislabeling its Capri Sun juice drinks.
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Caremark says no to Express Scripts deal
Jan 8 2007 8:10PM (CT)
NASHVILLE, Tenn. (AP) - Caremark Rx Inc. rejected a buyout offer by a rival pharmacy benefits manager Monday and pledged to continue to pursue drugstore operator CVS Corp.'s bid to acquire Caremark.
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State Farm may settle Katrina cases
Jan 8 2007 7:31PM (CT)
GULFPORT, Miss. (AP) - State Farm Fire & Casualty Co. is negotiating a multimillion dollar settlement in Mississippi on thousands of lawsuits and other disputed policyholder claims from Hurricane Katrina, people with direct knowledge of the negotiations told The Associated Press on Monday.
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Toyota exec says Tundra fills big need
Jan 8 2007 6:55PM (CT)
DETROIT (AP) - The rollout of Toyota Motor Corp.'s redesigned Tundra pickup truck puts the Japanese automaker squarely into the last segment of the U.S. market where it hasn't been competing as strongly, an executive said Monday.
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Wal-Mart Stores shares slip
Jan 8 2007 6:32PM (CT)
NEW YORK (AP) - Shares of Wal-Mart Stores Inc. slipped Monday after a Goldman Sachs analyst lowered her rating on the world's largest retailer, saying that its strategy isn't clear and its turnaround plan is taking longer than expected to execute.
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Oil prices fall on weather worries
Jan 8 2007 6:31PM (CT)
NEW YORK (AP) - Oil prices declined Monday, resuming last week's plunge as heating oil supplies go unused due to mild weather in the Northeast United States.
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GE buying oil services company
Jan 8 2007 6:28PM (CT)
NEW HAVEN, Conn. (AP) - Citing strong global demand for energy, General Electric Co. said Monday it agreed to buy oil services company Vetco Gray for $1.9 billion from a group of private equity funds.
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Gap stock rises on news of possible sale
Jan 8 2007 6:27PM (CT)
SAN FRANCISCO (AP) - Gap Inc. shares surged Monday on a news report that the struggling retailer has hired the investment firm Goldman Sachs to consider a possible sale or other dramatic changes.
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Home Depot changes process on CEO pay
Jan 8 2007 6:25PM (CT)
ATLANTA (AP) - The Home Depot Inc., the world's largest home improvement store chain, said Monday its board will require that two-thirds of its independent directors approve any compensation granted to the company's chief executive.
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GM, Ford: China sales up sharply in 2006
Jan 8 2007 4:50PM (CT)
BEIJING (AP) - General Motors and Ford said Monday their sales in China's booming car market jumped last year, a boost for the U.S. automakers that have seen demand slump in their home markets.
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Forest Oil to buy Houston Exploration
Jan 8 2007 4:35PM (CT)
DENVER (AP) - Oil and gas producer Forest Oil Corp. moved Monday to expand in the booming Rockies and Texas regions, announcing a $1.5 billion cash-and-stock deal to acquire Houston Exploration Co.
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Group says insurers gouge customers
Jan 8 2007 3:10PM (CT)
WASHINGTON (AP) - A consumer group blasted U.S. insurance companies on Monday for charging motorists and homeowners more for coverage, while paying out less, at a time of record-setting profits.
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Group says insurers gouge customers
Jan 8 2007 3:10PM (CT)
WASHINGTON (AP) - A consumer group blasted U.S. insurance companies on Monday for charging motorists and homeowners more for coverage, while paying out less, at a time of record-setting profits.
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NCR to spin off data warehousing unit
Jan 8 2007 10:55AM (CT)
DAYTON, Ohio (AP) - ATM maker NCR Corp. said Monday it will spin off its data warehousing unit, separating its business into two publicly traded companies. Its shares climbed more than 6 percent.
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NCR to spin off data warehousing unit
Jan 8 2007 10:55AM (CT)
DAYTON, Ohio (AP) - ATM maker NCR Corp. said Monday it will spin off its data warehousing unit, separating its business into two publicly traded companies. Its shares climbed more than 6 percent.
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Nasdaq toughens rhetoric against LSE
Jan 8 2007 10:48AM (CT)
LONDON (AP) - The Nasdaq Stock Market Inc. increased the rhetoric in its hostile takeover bid for London Stock Exchange PLC on Monday, accusing the British exchange of "milking" customers and threatening to set up a rival London market.
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United Surgical agrees to $1.39B buyout
Jan 8 2007 10:17AM (CT)
DALLAS (AP) - United Surgical Partners International Inc., which operates short-term stay surgical facilities, on Monday said it agreed to a takeover offer worth about $1.39 billion from a group affiliated with the buyout specialist Welsh, Carson, Anderson & Stowe. Its shares climbed nearly 13 percent in morning trading.
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Report: Russia halts oil via Belarus
Jan 8 2007 10:00AM (CT)
MINSK, Belarus (AP) - A senior Russian official said Monday that Russia has been forced to stop delivering oil to Europe via Belarus after disruptions to the flow of exports it blamed on Minsk, the ITAR-TASS news agency reported.
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Thailand won't lift capital controls
Jan 8 2007 7:29AM (CT)
BANGKOK, Thailand (AP) - Thailand has no immediate plans to lift remaining capital controls imposed last month to curb the baht's appreciation, the central bank governor said Monday amid growing calls from foreign brokers to ease the restrictions.
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EU says oil supply OK despite Russia
Jan 8 2007 6:55AM (CT)
BRUSSELS, Belgium (AP) - Cuts in Russian oil shipments to the European Union through a pipeline in Belarus pose "no immediate risk" to energy supplies in the EU, the bloc's energy commissioner said Monday.
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U.S. automakers battle public bias
Jan 8 2007 5:35AM (CT)
WASHINGTON (AP) - Americans have a bias against cars made by U.S. automakers, but an AP-AOL Autos poll found flickers of loyalty that could offer hope for an industry struggling to survive.
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General Motors say China sales jumped
Jan 8 2007 5:28AM (CT)
BEIJING (AP) - General Motors said Monday its sales in China's booming car market grew by 32 percent last year, a boost for an automaker that has seen demand slump in its key North American market.
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