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Oil prices fall in Asian trading
Jan 18 2007 11:57PM (CT)
SINGAPORE (AP) - Oil prices fell in Asian trading Friday after the U.S. Energy Department said U.S. crude inventories rose by the most in more than four years.
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China gets more McDonald's drive-thrus
Jan 18 2007 11:17PM (CT)
BEIJING (AP) - McDonald's Corp. and a Chinese oil company on Friday opened the first of a planned series of more than two dozen drive-through restaurants, launching an effort to tap China's growing taste for cars and Western fast food.
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Japanese shares fall amid profit-taking
Jan 18 2007 10:43PM (CT)
TOKYO (AP) - Japanese stocks fell Friday morning as investors took a breather following the nine-month highs the previous day. The dollar was higher against the yen.
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Magazine's car seat findings withdrawn
Jan 18 2007 8:48PM (CT)
WHITE PLAINS, N.Y. (AP) - Consumer Reports was forced on Thursday to retract a damning report on infant car seats after the federal government said test crashes on the seats were conducted at drastically higher speeds than the magazine had claimed.
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Key issues remain in U.S.-S.Korea talks
Jan 18 2007 8:45PM (CT)
SEOUL, South Korea (AP) - The chief U.S. negotiator in free trade talks with South Korea said Friday she is confident the two countries can strike a deal ahead of a looming deadline, though key issues remain.
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Bernanke warns budget could hurt economy
Jan 18 2007 8:30PM (CT)
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told Congress Thursday that the economy could be gravely hurt if the nation's fiscal house is not put in order and Social Security and Medicare aren't revamped.
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Tribune ponders proposals; no huge bids
Jan 18 2007 8:06PM (CT)
CHICAGO (AP) - Tribune Co. faces a difficult decision on its future after the only offers the media company received for its assets by an already-extended deadline fell short of expectations.
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Tribune ponders proposals; no huge bids
Jan 18 2007 8:06PM (CT)
CHICAGO (AP) - Tribune Co. faces a difficult decision on its future after the only offers the media company received for its assets by an already-extended deadline fell short of expectations.
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Retail money funds rise in latest week
Jan 18 2007 7:27PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds rose by $4.29 billion in the latest week to $981.73 billion, the Investment Company Institute said Thursday.
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GE buying part of Abbott's diagnostics
Jan 18 2007 7:09PM (CT)
HARTFORD, Conn. (AP) - General Electric Co. will acquire part of Abbott Laboratories' diagnostics business for $8.13 billion in cash, the two companies announced Thursday.
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Med schools curb drug-reps' free lunches
Jan 18 2007 6:11PM (CT)
RICHMOND, Va. (AP) - A growing number of U.S. medical schools and hospitals are realizing that there's some truth to the saying "There's no such thing as a free lunch" and are banning drug salespeople from providing meals and other gifts to doctors, medical students and residents.
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Med schools curb drug-reps' free lunches
Jan 18 2007 6:11PM (CT)
RICHMOND, Va. (AP) - A growing number of U.S. medical schools and hospitals are realizing that there's some truth to the saying "There's no such thing as a free lunch" and are banning drug salespeople from providing meals and other gifts to doctors, medical students and residents.
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Treasury bond prices gain despite data
Jan 18 2007 5:57PM (CT)
NEW YORK (AP) - U.S. Treasury prices enjoyed one of their best days in several weeks Thursday as investors took profits on recent market moves, brushing off a raft of robust economic data.
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Traditional phone use dropping
Jan 18 2007 5:51PM (CT)
WASHINGTON (AP) - The number of Americans with traditional landline telephones has declined sharply over the past three years _ a trend with ramifications for phone surveys that inform policy and market research.
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Traditional phone use dropping
Jan 18 2007 5:51PM (CT)
WASHINGTON (AP) - The number of Americans with traditional landline telephones has declined sharply over the past three years _ a trend with ramifications for phone surveys that inform policy and market research.
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Regulator: Fannie, Freddie yet troubled
Jan 18 2007 5:50PM (CT)
WASHINGTON (AP) - Fannie Mae and Freddie Mac have made progress toward correcting financial weaknesses, but tight government supervision is needed as the mortgage giants emerge from accounting scandals, a federal regulator said Thursday.
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Thursday's commodities roundup
Jan 18 2007 5:49PM (CT)
NEW YORK (AP) - Crude oil settled Thursday below $50 for the first time in 20 months, dragging other commodities with it.
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Dollar falls against euro and pound
Jan 18 2007 5:31PM (CT)
NEW YORK (AP) - The dollar fell against the euro and pound Thursday after a government report showed that consumer inflation moderated last year as the Federal Reserve hoped, perhaps reducing the need for any near-term interest rate increases.
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Rite Aid shareholders OK Eckerd deal
Jan 18 2007 5:14PM (CT)
HARRISBURG, Pa. (AP) - Rite Aid Corp. shareholders on Thursday overwhelmingly approved a deal worth almost $3 billion to buy more than 1,800 Brooks and Eckerd stores and become the largest drugstore operator on the East Coast.
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Rite Aid shareholders OK Eckerd deal
Jan 18 2007 5:14PM (CT)
HARRISBURG, Pa. (AP) - Rite Aid Corp. shareholders on Thursday overwhelmingly approved a deal worth almost $3 billion to buy more than 1,800 Brooks and Eckerd stores and become the largest drugstore operator on the East Coast.
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Merrill Lynch 4Q profit beats estimates
Jan 18 2007 4:52PM (CT)
NEW YORK (AP) - Merrill Lynch & Co., the nation's largest retail brokerage, on Thursday said robust stock trading and gains from its private equity business catapulted 2006 profit to a record. The news sent the company's stock to a new 52-week high.
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2 former CVS executives are charged
Jan 18 2007 3:24PM (CT)
PROVIDENCE, R.I. (AP) - Two former executives at drugstore chain CVS Corp. were charged Thursday in a federal probe into influence peddling at the Rhode Island Statehouse.
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Oil prices fall below $50 per barrel
Jan 18 2007 2:21PM (CT)
NEW YORK (AP) - Oil prices briefly fell below $50 per barrel for the first time since May 25, 2005, after the government reported larger-than-expected jumps in crude oil and gasoline inventories.
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Harley-Davidson 4Q profit up 9.7 pct
Jan 18 2007 1:41PM (CT)
MILWAUKEE (AP) - Harley-Davidson Inc. said Thursday that strong international sales of its iconic motorcycles helped drive its fourth-quarter profit up 9.7 percent _ just a touch above Wall Street expectations _ but U.S. sales were flat.
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Earnings surge at Bank of NY in 4Q
Jan 18 2007 11:31AM (CT)
NEW YORK (AP) - The Bank of New York Co., one of the nation's largest trust banks, on Thursday reported an increase in fourth-quarter earnings on strength in its corporate trust business, depositary receipts and global custody services.
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UnitedHealth reports 4Q profit of $1.2B
Jan 18 2007 11:30AM (CT)
MINNEAPOLIS (AP) - UnitedHealth Group Inc. on Thursday reported a fourth-quarter profit of $1.2 billion, in line with analyst expectations, but its lingering stock options problems cast a shadow over the results.
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UnitedHealth reports 4Q profit of $1.2B
Jan 18 2007 11:30AM (CT)
MINNEAPOLIS (AP) - UnitedHealth Group Inc. on Thursday reported a fourth-quarter profit of $1.2 billion, in line with analyst expectations, but its lingering stock options problems cast a shadow over the results.
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Report: China palace Starbucks may close
Jan 18 2007 8:09AM (CT)
BEIJING (AP) - Managers of China's vast Forbidden City palace are deciding whether to close a Starbucks outlet on its grounds after protests led by a state TV personality, a news report said Thursday.
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Wine industry pumps $162B into economy
Jan 18 2007 6:07AM (CT)
ROCHESTER, N.Y. (AP) - With 935,000 acres of vineyards and grape farms, nearly 5,000 wineries and 1.1 million jobs, the wine-and-grape industry sends an estimated $162 billion rippling through the U.S. economy each year, a consulting firm said.
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BOJ keeps interest rates unchanged
Jan 18 2007 5:50AM (CT)
TOKYO (AP) - The Bank of Japan decided Thursday to keep interest rates unchanged amid mounting political pressures to hold off on raising borrowing costs to sustain the nation's economic recovery.
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Saudis to increase oil output capacity
Jan 18 2007 5:31AM (CT)
NEW DELHI (AP) - Saudi Arabia plans to increase its crude oil production capacity nearly 40 percent by 2009 and double its refining size over the next five years to keep pace with growing global demand, the country's oil minister said Thursday.
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Gates Foundation renews library venture
Jan 18 2007 3:46AM (CT)
SEATTLE (AP) - The Bill & Melinda Gates Foundation is renewing its effort to support free access to the Internet in U.S. libraries by providing new computers and high-speed connections to those that have struggled to keep up with technology.
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Retailers assess citrus freeze impact
Jan 18 2007 2:34AM (CT)
CINCINNATI (AP) - Grocery retailers are taking stock of the impact California's freeze will have on supplies and the prices of citrus, strawberries and other damaged crops in their stores.
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IKEA plans move into North Carolina
Jan 18 2007 1:22AM (CT)
CHARLOTTE, N.C. (AP) - In the home state of America's furniture industry, where competition from abroad has shuttered dozens of manufacturing plants and led to thousands of lost jobs, a new foreign invader is on the way.
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Apple reports record 1Q profit
Jan 18 2007 12:52AM (CT)
SAN JOSE, Calif. (AP) - With the iPod juggernaut still soaring, Apple Inc. reaped record profits during the holiday quarter and stands to remain a Wall Street darling despite issuing a second-quarter forecast that fell below analyst expectations.
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Citrus freeze leaves thousands jobless
Jan 18 2007 12:23AM (CT)
SANGER, Calif. (AP) - The deep freeze that has destroyed some $1 billion worth of California citrus could also mean months of unemployment for thousands of farmworkers, packers and truck drivers during what is already a lean season for those who work in agriculture, industry officials say.
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