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Court accepts $3.4B Delphi plan
Jan 12 2007 11:37PM (CT)
NEW YORK (AP) - Delphi Corp. advanced in efforts to exit bankruptcy when a federal bankruptcy judge approved a complex equity plan that will inject up to $3.4 billion in the auto parts supplier.
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Delta pushes ahead on standalone plan
Jan 12 2007 10:51PM (CT)
ATLANTA (AP) - Delta Air Lines Inc., the nation's third-largest carrier, pushed ahead Friday with its effort to emerge from bankruptcy as a standalone company by formally asking the court to approve the disclosure statement to its reorganization plan.
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Duberstein resigns from Fannie Mae board
Jan 12 2007 7:57PM (CT)
WASHINGTON (AP) - Kenneth Duberstein, a prominent Republican consultant who has been a director of mortgage giant Fannie Mae since 1998, resigned from the board on Friday, the company announced.
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Wal-Mart picks new ad agencies
Jan 12 2007 7:10PM (CT)
NEW YORK (AP) - Wal-Mart Stores Inc. said Friday that it has picked Interpublic Group of Co.'s Martin Agency, known for its quirky ads for GEICO insurance company and UPS, to help spearhead the discounter's future image with consumers.
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Ford restructuring ahead of schedule
Jan 12 2007 6:59PM (CT)
NEW YORK (AP) - Ford Motor Co.'s plan to return to profitability by closing plants and slashing thousands of jobs in North America is ahead of schedule, Chief Executive Alan Mulally said Friday.
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Oil prices rebound by over $1 a barrel
Jan 12 2007 6:55PM (CT)
NEW YORK (AP) - Oil prices rebounded by more than $1 a barrel Friday, but analysts are hesitant to call a turnaround in a market that's down more than 13 percent this year on dampened heating fuel demand.
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Oil prices rebound by over $1 a barrel
Jan 12 2007 6:55PM (CT)
NEW YORK (AP) - Oil prices rebounded by more than $1 a barrel Friday, but analysts are hesitant to call a turnaround in a market that's down more than 13 percent this year on dampened heating fuel demand.
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Oil prices rebound by over $1 a barrel
Jan 12 2007 6:55PM (CT)
NEW YORK (AP) - Oil prices rebounded by more than $1 a barrel Friday, but analysts are hesitant to call a turnaround in a market that's down more than 13 percent this year on dampened heating fuel demand.
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Dolans raise Cablevision bid to $8.9B
Jan 12 2007 6:49PM (CT)
BETHPAGE, N.Y. (AP) - The controlling shareholders of Cablevision Systems Corp., the Dolan family, raised their bid on Friday to take the company private for $8.9 billion and said it was their final offer.
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BP CEO to retire ahead of schedule
Jan 12 2007 6:49PM (CT)
LONDON (AP) - (AP) _ BP's chief executive is stepping down by the end of July _ more than a year ahead of schedule _ after a series of high-profile mishaps including a deadly refinery blast in Texas and a giant oil spill in Alaska tarnished the image of one of the world's largest oil companies.
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HP spy probe investigator pleads guilty
Jan 12 2007 6:47PM (CT)
SAN JOSE, Calif. (AP) - Federal prosecutors scored their first victory in the investigation of Hewlett-Packard Co.'s ill-fated boardroom spying probe Friday, when a low-level private investigator pleaded guilty to identity theft and conspiracy charges. Bryan Wagner, 29, of Littleton, Colo., pleaded guilty to the two felony counts during his initial appearance in San Jose federal court.
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Northwest files reorganization plan
Jan 12 2007 4:53PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. has filed a bankruptcy reorganization plan that is 66 pages long, but short on details about what the airline will look like once it finishes its layover in Chapter 11.
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AirTran appeals to stockholders on offer
Jan 12 2007 3:31PM (CT)
MILWAUKEE (AP) - In a Jan. 11 story about AirTran raising its bid for Midwest Airlines, The Associated Press, relying on information from Jerome G. Schnedorf, chairman of the Midwest Airlines unit of the Air Line Pilots Association, misstated the time of a meeting. The pilots' group met with AirTran executives last month, not last week.
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AirTran appeals to stockholders on offer
Jan 12 2007 3:31PM (CT)
MILWAUKEE (AP) - In a Jan. 11 story about AirTran raising its bid for Midwest Airlines, The Associated Press, relying on information from Jerome G. Schnedorf, chairman of the Midwest Airlines unit of the Air Line Pilots Association, misstated the time of a meeting. The pilots' group met with AirTran executives last month, not last week.
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AirTran appeals to stockholders on offer
Jan 12 2007 3:31PM (CT)
MILWAUKEE (AP) - In a Jan. 11 story about AirTran raising its bid for Midwest Airlines, The Associated Press, relying on information from Jerome G. Schnedorf, chairman of the Midwest Airlines unit of the Air Line Pilots Association, misstated the time of a meeting. The pilots' group met with AirTran executives last month, not last week.
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AirTran appeals to stockholders on offer
Jan 12 2007 3:31PM (CT)
MILWAUKEE (AP) - In a Jan. 11 story about AirTran raising its bid for Midwest Airlines, The Associated Press, relying on information from Jerome G. Schnedorf, chairman of the Midwest Airlines unit of the Air Line Pilots Association, misstated the time of a meeting. The pilots' group met with AirTran executives last month, not last week.
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AirTran appeals to stockholders on offer
Jan 12 2007 3:31PM (CT)
MILWAUKEE (AP) - In a Jan. 11 story about AirTran raising its bid for Midwest Airlines, The Associated Press, relying on information from Jerome G. Schnedorf, chairman of the Midwest Airlines unit of the Air Line Pilots Association, misstated the time of a meeting. The pilots' group met with AirTran executives last month, not last week.
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AirTran appeals to stockholders on offer
Jan 12 2007 3:31PM (CT)
MILWAUKEE (AP) - In a Jan. 11 story about AirTran raising its bid for Midwest Airlines, The Associated Press, relying on information from Jerome G. Schnedorf, chairman of the Midwest Airlines unit of the Air Line Pilots Association, misstated the time of a meeting. The pilots' group met with AirTran executives last month, not last week.
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AirTran appeals to stockholders on offer
Jan 12 2007 3:31PM (CT)
MILWAUKEE (AP) - In a Jan. 11 story about AirTran raising its bid for Midwest Airlines, The Associated Press, relying on information from Jerome G. Schnedorf, chairman of the Midwest Airlines unit of the Air Line Pilots Association, misstated the time of a meeting. The pilots' group met with AirTran executives last month, not last week.
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AMD shares plunge 10 pct. on Q4 warning
Jan 12 2007 10:10AM (CT)
SAN FRANCISCO (AP) - Shares of Advanced Micro Devices Inc. fell more than 10 percent Friday, a day after the world's No. 2 microprocessor maker said that plunging prices for computer chips hacked into the company's fourth-quarter results.
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Consumers see brighter future in 2007
Jan 12 2007 9:14AM (CT)
WASHINGTON (AP) - Consumers greeted the new year in a much more optimistic frame of mind, with their confidence rising to a nearly one-year high in January.
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Processor charged with wasting salmon
Jan 12 2007 8:41AM (CT)
ANCHORAGE, Alaska (AP) - A defunct fish processor accused of letting 400 tons of Alaska salmon rot and stiffing the fishermen who sold it has been charged with five misdemeanors for what prosecutors called "an environmental and economic catastrophe."
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Hyundai blasts union for vote on walkout
Jan 12 2007 8:26AM (CT)
SEOUL, South Korea (AP) - Hyundai Motor Co.'s labor union voted Friday to walk off the job for part of the workday next week amid a dispute over bonus payments, but the beleaguered automaker warned a strike could lead to "the destruction of both the company and the union."
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Japan stocks rise; dollar up against yen
Jan 12 2007 6:42AM (CT)
TOKYO (AP) - Japanese stocks rose Friday, helped by another record close on Wall Street and the dollar's rise above 120 yen, a boon to the nation's key export sector.
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Dollar rises to 13-month high in Asia
Jan 12 2007 5:04AM (CT)
TOKYO (AP) - The dollar rose to a 13-month high versus the yen in Asia Friday amid optimism about U.S. consumption data, helping the economy achieve a soft landing.
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State Farm loses Katrina claim case
Jan 12 2007 4:45AM (CT)
GULFPORT, Miss. (AP) - A jury awarded $2.5 million in punitive damages against State Farm Fire and Casualty Co. for a Mississippi couple for denying their Hurricane Katrina claim. The decision could benefit hundreds of other homeowners challenging insurers for refusing to cover billions of dollars in storm damage.
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Calif. citrus farms brace for cold snap
Jan 12 2007 4:24AM (CT)
FRESNO, Calif. (AP) - A cold snap predicted in several western states this weekend is expected to lower temperatures in California to the teens, worrying farmers with a citrus crop still hanging on trees.
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South Korea, U.S. to restart trade talks
Jan 12 2007 3:14AM (CT)
SEOUL, South Korea (AP) - Kim Jong-hoon, South Korea's chief negotiator in free trade talks with the United States, looks toward the ground, his lips tightly pursed. The image, which appeared in full-page South Korean newspaper ads last month, seemed to clash with the government's upbeat outlook on the negotiations in text above the photo: "There is a ways to go, but hopes are increasing."
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Cingular rebranding at AT&T set to begin
Jan 12 2007 12:52AM (CT)
NEW YORK (AP) - Three years after AT&T Wireless subscribers found their cell-phone carrier was now Cingular Wireless, Cingular Wireless subscribers will soon be learning to call their carrier AT&T.
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Ex-currency trader ordered to pay $33M
Jan 12 2007 12:46AM (CT)
PORTLAND, Ore. (AP) - A former currency trader convicted of defrauding hundreds of investors has been ordered to pay more than $33 million in one of the largest fines against an individual sued by the U.S. Commodity Futures Trading Commission.
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