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Ex-Anthem CEO resigns from WellPoint board
Jan 19 2006 11:47PM (CT)
INDIANAPOLIS (AP) - The former chief executive of WellPoint Inc.'s predecessor company resigned Thursday from the health insurer's 17-member board of directors.
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Planet Hollywood breaks ground in Vegas
Jan 19 2006 11:47PM (CT)
LAS VEGAS (AP) - Flanked by beauty queens, Planet Hollywood executives broke ground Thursday on a high-rise time-share and condominium development planned next to the Aladdin Resort & Casino.
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Livedoor stock swamped with sell orders
Jan 19 2006 11:39PM (CT)
TOKYO (AP) - Prosecutors will soon question the chief executive of Internet startup Livedoor Co. on allegations of securities fraud, media reports said Friday as traders struggled to unload its shares even as the broader Tokyo market recovered.
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S. Korea says Japan to levy tarrif on Hynix
Jan 19 2006 11:37PM (CT)
SEOUL, South Korea (AP) - Japan will slap import duties of 27.2 percent on computer memory chips made by Hynix Semiconductor Inc. in retaliation for alleged government subsidies, the South Korean and Japanese governments said Friday.
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Group comes out against offer for Guidant
Jan 19 2006 11:36PM (CT)
BOSTON (AP) - A proxy advisory firm is recommending Guidant Corp. shareholders reject Johnson & Johnson's latest buyout proposal, a move that comes as J&J weighs whether to sweeten its offer for the medical device maker once again to trump Guidant's favored suitor of the moment, Boston Scientific Corp.
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Report: New bid offered for Albertson's
Jan 19 2006 11:34PM (CT)
BOISE, Idaho (AP) - A $9 billion deal to buy Albertson's Inc., the nation's second-biggest supermarket chain, might be revived less than a month after it fell apart, according to a published report.
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Scrushy said to pay for positive stories
Jan 19 2006 11:32PM (CT)
BIRMINGHAM, Ala. (AP) - A writer who turned out a stream of sympathetic newspaper stories about former HealthSouth Corp. CEO Richard Scrushy during his fraud trial says Scrushy secretly paid her $11,000 through a public relations firm and typically read her articles before publication.
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Former Enron CEO says legal team ready
Jan 19 2006 11:19PM (CT)
HOUSTON (AP) - Former Enron CEO Jeffrey Skilling is breaking a very long silence, offering a few personal insights and saying his lawyers are prepared for a trial that could send him to prison for decades if he is convicted.
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Japanese stocks extend rebound Friday
Jan 19 2006 10:59PM (CT)
TOKYO (AP) - Japanese stocks rose Friday morning, extending a rebound from the "Livedoor shock" that triggered huge selloffs earlier in the week.
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Motorola 4Q income soars to $1.2 billion
Jan 19 2006 10:48PM (CT)
CHICAGO (AP) - Motorola Inc., the world's second-largest maker of cell phones, rode the continuing momentum of its hot-selling Razrs to an 86 percent jump in fourth-quarter income.
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Sun-Times to streamline, cut 300 jobs
Jan 19 2006 10:35PM (CT)
CHICAGO (AP) - The company that owns the Chicago Sun-Times said Thursday it will cut 10 percent of its staff, or about 300 jobs, in an effort to streamline operations.
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S. America leaders talk pipeline project
Jan 19 2006 8:38PM (CT)
LA PAZ, Bolivia (AP) - Aiming to leverage their huge natural gas reserves, left-leaning leaders across South America are in serious talks to build a network of pipelines stretching thousands of kilometers (miles) to feed growing demand and wean themselves from American economic influence.
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Homebuilders bullish after gains in 1Q
Jan 19 2006 7:57PM (CT)
DALLAS (AP) - D.R. Horton Inc., the nation's largest homebuilder, on Thursday boosted its fiscal year earnings forecast, projected closing on a record 58,000 homes for the year and touted 29 percent first-quarter growth, despite signs that the housing market is leveling off.
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Report: Disney in talks to acquire Pixar
Jan 19 2006 7:33PM (CT)
LOS ANGELES (AP) - The Walt Disney Co.'s possible acquisition of Pixar Animation Studio could make Pixar CEO Steve Jobs a member of Disney's board and its single largest shareholder, a newspaper reported Thursday.
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SEC settlement with ex-Qwest CFO collapses
Jan 19 2006 6:58PM (CT)
DENVER (AP) - A former Qwest finance chief who admitted to insider trading as part of the company's multibillion-dollar accounting scandal faces a trial on civil fraud charges because a tentative settlement with regulators has collapsed.
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Pfizer 4Q profit slips nearly 3 percent
Jan 19 2006 6:15PM (CT)
NEW YORK (AP) - Pfizer Inc., the world's biggest drug maker, said Thursday that fourth-quarter profit fell about 3 percent as sales retreated from year-ago levels, but the results topped Wall Street estimates when one-time charges are excluded.
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Retail money funds rise in latest week
Jan 19 2006 6:03PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds rose by $765.4 million in the latest week to $847.48 billion, the Investment Company Institute said Thursday.
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Judge grants access to Guidant documents
Jan 19 2006 5:57PM (CT)
CORPUS CHRISTI, Texas (AP) - The New York Times and two Texas plaintiffs won access Thursday to documents they say show Guidant Corp. continued selling some models of its heart defibrillators after knowing the devices could malfunction.
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Bonds fall amid solid U.S. economic data
Jan 19 2006 5:49PM (CT)
NEW YORK (AP) - Data showing solid labor market and manufacturing conditions stoked a mildly bearish mood in the Treasurys market Thursday, while a rebound in global equities also kept up the heat on prices.
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Tenet to restate past financial results
Jan 19 2006 5:29PM (CT)
DALLAS (AP) - Hospital operator Tenet Healthcare Corp. said Thursday it will restate financial results for five years because of errors in accounting on managed-care contracts.
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Exec: Northwest not prepared for strike
Jan 19 2006 5:27PM (CT)
NEW YORK (AP) - On the third day of Northwest Airlines' bid to have its union contracts tossed out by a bankruptcy court, an airline executive testified that a strike by employees would cause it to liquidate and that it has not prepared for any work stoppage.
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Lufthansa sees operating profit of $667M
Jan 19 2006 5:21PM (CT)
FRANKFURT, Germany (AP) - German airline Lufthansa AG said Thursday it expected an operating profit of 550 million euros ($667 million) for 2005 because of improved passenger numbers.
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Wachovia, PNC post gains in 4Q earnings
Jan 19 2006 5:19PM (CT)
CHARLOTTE, N.C. (AP) - Wachovia Corp., the nation's fourth-largest bank, said its earnings grew 18 percent in the fourth quarter, fueled largely by strong growth in fees, deposits and loans. The results were in line with analysts' estimates.
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Thursday's commodities roundup
Jan 19 2006 5:16PM (CT)
NEW YORK (AP) - Gold made a stunning comeback Thursday from a recent sell-off after buyers took advantage of low levels at the New York Mercantile Exchange.
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Investors lukewarm about Home Depot plan
Jan 19 2006 4:59PM (CT)
ATLANTA (AP) - The Home Depot Inc.'s bold five-year plan announced Thursday to shift more of its overall sales away from its retail core to its division serving professional contractors got a lukewarm response from investors. The company said it would slow the pace of new store openings but still maintain strong earnings growth.
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Union Pacific 4th-quarter earnings surge
Jan 19 2006 4:51PM (CT)
OMAHA, Neb. (AP) - Union Pacific Corp., the nation's largest railroad operator, said Thursday its profit nearly quadrupled in the fourth quarter from results weighed down by a hefty charge a year ago. The increase was a more modest 27 percent excluding the charge.
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UnitedHealth 4Q earnings rise to $870M
Jan 19 2006 4:50PM (CT)
MINNEAPOLIS (AP) - UnitedHealth Group Inc., the nation's second-largest health insurer, on Thursday said fourth-quarter profit climbed almost 18 percent as revenue rose 15 percent and as it added 3.6 million new customers. The company also raised its full-year guidance.
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UnitedHealth Group 4Q profit up to $870M
Jan 19 2006 4:50PM (CT)
MINNEAPOLIS (AP) - UnitedHealth Group Inc., the nation's second-largest health insurer, on Thursday said fourth-quarter profit climbed almost 18 percent as revenue rose 15 percent and as it added 3.6 million new customers. The company also raised its full-year guidance.
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Philips plans to buy Lifeline for $750M
Jan 19 2006 4:47PM (CT)
AMSTERDAM, Netherlands (AP) - Philips Electronics NV plans to buy Lifeline Systems Inc., a medical-services company, for around $750 million, Philips said Thursday.
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Harley-Davidson 4Q profit up 10 percent
Jan 19 2006 4:39PM (CT)
MILWAUKEE (AP) - Motorcycle maker Harley-Davidson Inc. reported Thursday that fourth-quarter profit rose 10 percent as the company benefited from higher sales overseas, pushing its results above Wall Street expectations.
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Federated to close 5 distribution centers
Jan 19 2006 4:37PM (CT)
CINCINNATI (AP) - Federated Department Stores Inc. said Thursday it will close five distribution centers, affecting up to 750 jobs, as it strives to cut costs and realign its Macy's division following the acquisition of May Department Stores Co. last year.
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Apple shares down 4.2 percent on Nasdaq
Jan 19 2006 4:36PM (CT)
SAN JOSE, Calif. (AP) - Apple Computer Inc.'s record-breaking first quarter easily topped Wall Street targets, but a soft forecast amid high expectations disappointed investors. Apple shares slid $3.46, or 4.2 percent, to close at $79.04 Thursday on the Nasdaq Stock Market.
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EBay shares rebound on analysts' view
Jan 19 2006 4:31PM (CT)
SAN JOSE, Calif. (AP) - Shares of eBay Inc. rose Thursday as some investors bet that the online auction house's earnings momentum may prove to be even stronger than the company is forecasting.
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Tribune stock falls on revenue decline
Jan 19 2006 4:19PM (CT)
CHICAGO (AP) - Shares in Tribune Co. tumbled Thursday after the media company reported a 6.1 percent drop in revenue last month on declines in both its newspaper and television businesses.
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Pfizer 4Q profit slips nearly 3 percent
Jan 19 2006 4:15PM (CT)
NEW YORK (AP) - Pfizer Inc., the world's biggest drug maker, said Thursday that fourth-quarter profit fell about 3 percent as sales retreated from year-ago levels, but the results topped Wall Street estimates when one-time charges are excluded.
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Digital Music Group increases IPO price
Jan 19 2006 4:09PM (CT)
WASHINGTON (AP) - Digital Music Group Inc. on Thursday increased the estimated price range for its pending initial public offering to $9 to $11 per share from $8 to $10.
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Hong Kong distributor acquires Wham-O
Jan 19 2006 3:52PM (CT)
SAN FRANCISCO (AP) - Wham-O Inc., the maker of vintage toys like the Frisbee, Slip'N Slide and Hula Hoop, has been sold to a Hong Kong distributor that's trying to build a one-stop shop for outdoor fun.
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Bechtel drops water claim against Bolivia
Jan 19 2006 3:19PM (CT)
SAN FRANCISCO (AP) - Construction and engineering giant Bechtel Corp. has dropped its $25 million claim against the Bolivian government for canceling a water contract that caused deadly protests over increased rates, a company spokesman said Thursday.
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Investment group sues Japanese media co.
Jan 19 2006 2:55PM (CT)
NEW YORK (AP) - A New York-based investment group sued a Japanese media company Thursday, saying it had been wrongfully accused of being associated with members of Japanese organized crime.
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Pa. manufacturing sector slows in January
Jan 19 2006 2:54PM (CT)
NEW YORK (AP) - The manufacturing sector in the Philadelphia region slowed in January, although some important indicators of factory activity strengthened.
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Deutsche Bank said not being investigated
Jan 19 2006 2:50PM (CT)
FRANKFURT, Germany (AP) - Prosecutors said Thursday that Deutsche Bank AG is not being investigated in an insider trading case that has targeted DaimlerChrysler supervisory board chief Hilmar Kopper.
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Tokyo Stock Exchange's weakness exposed
Jan 19 2006 2:48PM (CT)
TOKYO (AP) - An unfolding scandal at an Internet startup and a market sell-off that followed are exposing a stunning weakness at the Tokyo Stock Exchange that could undermine global investors' confidence in the exchange.
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LVMH revenue climbs 11 percent in 2005
Jan 19 2006 2:32PM (CT)
PARIS (AP) - The world's largest luxury goods group LVMH Moet Hennessy Louis Vuitton SA said Thursday that double-digit growth in nearly all of its divisions boosted full-year revenue by 11 percent.
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Dec. slump shows housing may be cooling
Jan 19 2006 1:21PM (CT)
WASHINGTON (AP) - Construction of new single-family homes surged to an all-time high in 2005 but construction activity fell sharply in December, sending a signal that the nation's long housing boom could be cooling off.
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Japan official nixes U.S. beef demands
Jan 19 2006 1:17PM (CT)
TOKYO (AP) - Japan's agriculture minister rejected U.S. demands that Tokyo accept beef from cows older than 20 months, saying Japan would not change the condition under which the ban on U.S. beef imports was lifted last December.
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Japan leaves economic view unchanged
Jan 19 2006 12:48PM (CT)
TOKYO (AP) - The Japanese economy shows continued strength in private consumption and capital expenditure, the government said Thursday in its latest monthly economic assessment. It was the sixth straight month that it expressed the same view.
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Merrill Lynch profit up on trading revenue
Jan 19 2006 12:38PM (CT)
NEW YORK (AP) - Wall Street brokerage Merrill Lynch & Co. said Thursday its fourth-quarter profit jumped 25 percent, citing stronger trading revenue. The company also reported record full-year net earnings.
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Nestle completes full purchase of Dreyer's
Jan 19 2006 12:24PM (CT)
VEVEY, Switzerland (AP) - Nestle SA, the world's biggest food company, said Thursday it has completed the full purchase of Dreyer's Grand Ice Cream Holdings Inc.
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Rates on 30-year mortgages dip for 6th week
Jan 19 2006 12:16PM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages fell for a sixth straight week, dropping to the lowest level in three months, according to a weekly survey released Thursday.
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Wachovia profit surges on fee, loan growth
Jan 19 2006 11:44AM (CT)
CHARLOTTE, N.C. (AP) - Wachovia Corp., the nation's fourth-largest bank, said Thursday its earnings rose 18 percent in the final quarter of the year, fueled largely by strong growth in fees, deposits and loans.
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Winn-Dixie wants to give CEO $2M bonus
Jan 19 2006 11:40AM (CT)
JACKSONVILLE, Fla. (AP) - Supermarket chain Winn-Dixie Stores Inc. is asking a federal bankruptcy judge to approve a $2 million retention bonus for president and CEO Peter Lynch, saying he has helped turn the company around.
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D.R. Horton's 1Q profit climbs on sales
Jan 19 2006 11:16AM (CT)
FORT WORTH, Texas (AP) - D.R. Horton Inc., the nation's largest homebuilder, on Thursday reported its first-quarter profit grew 29 percent on improved sales and margins, and boosted its fiscal-year earnings guidance.
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Baosteel, Magang in strategic tie-up
Jan 19 2006 11:11AM (CT)
SHANGHAI, China (AP) - China's biggest steelmaker, Baosteel, and smaller rival Magang have announced a strategic agreement as consolidation in the highly competitive sector intensifies.
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AMD shares soar on fourth-quarter profit
Jan 19 2006 10:51AM (CT)
SAN JOSE, Calif. (AP) - Advanced Micro Devices Inc. shares rose more than 10 percent in early trading Thursday, a day after posting a profit for the fourth quarter on a 45 percent boost in revenue as its microprocessor sales hit a new record.
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Entergy reports $1.5B in hurricane damage
Jan 19 2006 10:14AM (CT)
NEW ORLEANS (AP) - Utility holding company Entergy Corp. said Thursday its damages from hurricanes Katrina and Rita totaled $1.5 billion and predicted its fourth-quarter earnings will drop from a year ago.
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PNC Financial profits climb 16 percent
Jan 19 2006 10:05AM (CT)
PITTSBURGH (AP) - Bank holding company PNC Financial Services Group Inc. on Thursday said profit jumped 16 percent in the fourth quarter on stronger earnings in its retail banking operations.
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Beazer Homes boosts 1Q profit on closings
Jan 19 2006 10:02AM (CT)
ATLANTA (AP) - Beazer Homes USA Inc., one of the nation's biggest builders of single-family homes, posted a 29 percent rise in fiscal first-quarter profit as an increase in home closings, particularly in the Southeast and mid-Atlantic regions, boosted results.
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Skandia to call extraordinary meeting
Jan 19 2006 9:30AM (CT)
STOCKHOLM, Sweden (AP) - Swedish insurer Forsakrings AB Skandia on Thursday said it will call an extraordinary general meeting that is expected to give Old Mutual PLC control of the company's board.
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Euro-zone inflation falls in December
Jan 19 2006 9:21AM (CT)
BRUSSELS, Belgium (AP) - Euro-zone annual inflation fell to 2.2 percent in December from 2.3 percent the previous month as oil prices cooled, the EU statistical agency Eurostat said Thursday.
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Gazprom eyes partnerships for future
Jan 19 2006 8:44AM (CT)
BERLIN (AP) - Russian natural gas monopoly Gazprom sees partnerships with Western energy producers as key to its future, the deputy CEO said Thursday, citing cooperation with German companies as successes while dismissing reports it was looking to buy Scottish Power.
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Novartis' 4Q profit flat on charges
Jan 19 2006 7:10AM (CT)
BASEL, Switzerland (AP) - Swiss pharmaceutical giant Novartis AG reported a fourth-quarter net profit Thursday that was virtually flat due to one-time charges.
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North Korean leader's trip raises hopes
Jan 19 2006 6:23AM (CT)
SEOUL, South Korea (AP) - North Korean leader Kim Jong Il's secretive trip to China is raising hopes that Pyongyang is contemplating more economic reforms inspired by the free-market policies that have turned China into one of the world's fastest growing economies.
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Thai trade negotiator with U.S. resigns
Jan 19 2006 5:48AM (CT)
BANGKOK, Thailand (AP) - The chief Thai negotiator in talks with the United States for a free trade agreement has resigned because criticism of the planned pact has demoralized him, Prime Minister Thaksin Shinawatra said Thursday.
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Konica Minolta to leave camera business
Jan 19 2006 5:38AM (CT)
TOKYO (AP) - Konica Minolta Holdings Inc. said Thursday it will pull out of its money-losing camera business and will sell part of a plant, development knowledge and other assets for digital cameras to Sony Corp.
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Jet Airways to buy rival Air Sahara
Jan 19 2006 5:36AM (CT)
NEW DELHI (AP) - India's leading private carrier Jet Airways said Thursday it is buying rival Air Sahara for $500 million in a takeover that will create the country's largest airline.
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Researchers win genome sequencing grant
Jan 19 2006 4:55AM (CT)
CHAMPAIGN, Ill. (AP) - A team of researchers won a $10 million federal grant to provide the first complete sequence of the swine genome _ a genetic map they say could help farmers produce better hogs, give consumers tastier pork and ultimately benefit human health.
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Toyota to introduce Camry in Super Bowl ad
Jan 19 2006 3:55AM (CT)
DETROIT (AP) - Toyota Motor Corp. aims to break new ground _ and tug on some heartstrings _ with a bilingual ad that will run during this year's Super Bowl.
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Dick's needs good quarter from Galyan's
Jan 19 2006 2:02AM (CT)
CHICAGO (AP) - Shares of Dick's Sporting Goods Inc. have risen about 30 percent since mid-October, but the retailer needs a solid fourth quarter, particularly from its Galyan's acquisition, for the stock to climb higher.
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