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FDA: Merck had time to warn about Vioxx
Feb 10 2006 11:52PM (CT)
NEW ORLEANS (AP) - Merck & Co. could have warned that its popular painkiller Vioxx might increase the risk of heart attacks as soon as the first evidence showed up, rather than waiting two years for federal approval, a former Food and Drug Administration official testified Friday.
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'Throttling' angers Netflix renters
Feb 10 2006 11:26PM (CT)
SAN FRANCISCO (AP) - Manuel Villanueva realizes he has been getting a pretty good deal since he signed up for Netflix Inc.'s online DVD rental service 2 1/2 years ago, but he still feels shortchanged. That's because the $17.99 monthly fee that he pays to rent up to three DVDs at a time would amount to an even bigger bargain if the company didn't penalize him for returning his movies so quickly.
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Pfizer 2006 forecast below projections
Feb 10 2006 9:40PM (CT)
NEW YORK (AP) - Pfizer Inc. disappointed Wall Street on Friday with a 2006 earnings prediction that fell below analysts' forecasts while announcing revenue growth would be flat as it continues to struggle with patent losses.
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Nigerian sentenced in ChoicePoint ID case
Feb 10 2006 7:59PM (CT)
LOS ANGELES (AP) - A Nigerian national who pleaded guilty to identity theft charges related to information stolen from consumer data collector ChoicePoint Inc. was sentenced Friday to 10 years in prison and ordered to pay $6.5 million in restitution.
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Compensation rises in 2005 for AT&T CEO
Feb 10 2006 7:17PM (CT)
SAN ANTONIO (AP) - The chairman and chief executive of AT&T Inc. saw his annual compensation rise to nearly $12 million in 2005, according to the proxy statement that the company filed Friday.
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Judge OKs bonus plans for Delphi execs
Feb 10 2006 7:16PM (CT)
NEW YORK (AP) - A federal bankruptcy court judge Friday approved Delphi Corp.'s plan to re-institute a bonus program for its top executives despite criticism from the bankrupt auto parts maker's creditors and the unions that are fighting job cuts at the company.
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AP: Journal editors dispute Merck claim
Feb 10 2006 7:01PM (CT)
NEW YORK (AP) - The New England Journal of Medicine demanded changes before publishing results of the study that led Merck and Co. to pull the painkiller Vioxx from the market, and one of its top editors disputes the way the drugmaker is using it as a pillar of its legal defense in liability suits.
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Northwest pilots to vote on strike
Feb 10 2006 6:49PM (CT)
BLOOMINGTON, Minn. (AP) - Northwest Airlines Corp. pilots will begin voting Monday on whether to authorize a strike, a union official said Friday.
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Univision growth prompts possible sale
Feb 10 2006 6:41PM (CT)
LOS ANGELES (AP) - Conquering the U.S. Spanish-language television, radio and recorded music market has left Univision Communications Inc. with a quandry: Where to look for growth?
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Novacea files initial public offering
Feb 10 2006 6:36PM (CT)
WASHINGTON (AP) - Biopharmaceutical company Novacea Inc. filed an initial public offering Friday to sell up to $75 million in common stock.
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RAM Holdings plans initial public offering
Feb 10 2006 6:36PM (CT)
WASHINGTON (AP) - RAM Holdings Ltd. is planning an initial public offering to sell up to $250 million in common stock, according to a Friday filing with the Securities and Exchange Commission.
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GM, Ford execs seek to reduce dealerships
Feb 10 2006 6:34PM (CT)
ORLANDO, Fla. (AP) - Executives from General Motors Corp. and Ford Motor Co. said Friday they need to reduce the number of dealerships they have as their U.S. market share shrinks.
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Ford Vice Chairman Greg Smith to retire
Feb 10 2006 6:33PM (CT)
DEARBORN, Mich. (AP) - Ford Motor Co. Vice Chairman Greg Smith plans to retire after 32 years with the automaker, the company said Friday.
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Biogen Idec CEO awarded $1.2M bonus
Feb 10 2006 6:20PM (CT)
BOSTON (AP) - Biogen Idec Inc.'s top executive was awarded a $1.2 million bonus and a 10 percent salary increase after a year in which the biotechnology company withdrew a promising drug from the market, leading to job cuts and 32 percent drop in its stock price, according to a regulatory filing Friday.
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FCC releases report on video competition
Feb 10 2006 6:12PM (CT)
KELLER, Texas (AP) - Cable company revenues rose faster than inflation last year, but cable's share of the TV-viewing market declined as satellite services gained ground, the Federal Communications Commission said in a report released Friday.
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Petrobras to sign agreement with Bolivia
Feb 10 2006 6:10PM (CT)
RIO DE JANEIRO, Brazil (AP) - Brazil's state-run oil company Petrobras said Friday it will sign a long-term natural gas agreement with Bolivia's new leftist government.
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IRS extends hurricane losses deadline
Feb 10 2006 6:03PM (CT)
WASHINGTON (AP) - The IRS on Friday gave people hit by hurricanes last year an extra six months to decide whether to claim losses related to the disasters on 2004 or 2005 tax returns.
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Bank of America withdraws some Visa cards
Feb 10 2006 5:50PM (CT)
CHARLOTTE, N.C. (AP) - Bank of America Corp. has withdrawn an undetermined number of Visa cards because of concerns about a security breach with a merchant, a company spokeswoman said Friday.
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TeliaSonera 4Q net profit rises to $354M
Feb 10 2006 5:05PM (CT)
STOCKHOLM, Sweden (AP) - TeliaSonera Corp., the Nordic region's largest telecommunications operator, Friday reported higher sales but weak profits in key markets.
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Fortune Brands agrees to acquire SBR
Feb 10 2006 5:04PM (CT)
DEERFIELD, Ill. (AP) - Fortune Brands Inc., maker of Jim Beam bourbon, Moen faucets, Master Lock padlocks and Titleist golf gear, said Friday it has agreed to acquire SBR Inc., a privately held window maker, for about $630 million in stock and debt.
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Visteon posts 4Q profit of $1.34B on gain
Feb 10 2006 5:01PM (CT)
DETROIT (AP) - Visteon Corp., the nation's second-largest auto parts maker, posted a profit Friday for what would have been yet another money-losing quarter if not for a $1.8 billion cash infusion from the sale of 23 plants to former parent Ford Motor Co.
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Friday's commodities roundup
Feb 10 2006 4:53PM (CT)
NEW YORK (AP) - Gold, silver and other precious metals fell Friday, knocked for the second time this week by a wave of fund and other speculative long liquidation.
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India chides Europe on view of Mittal bid
Feb 10 2006 4:28PM (CT)
NEW DELHI (AP) - India's trade minister on Friday criticized European governments opposing a bid by Mittal Steel for European steelmaker Arcelor, warning their stance could derail global trade talks and saying their resistance smacked of racism.
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Delta pilots want wage scales restored
Feb 10 2006 4:24PM (CT)
ATLANTA (AP) - A Delta Air Lines Inc. official told management employees Friday that the company's pilots are asking that their wage scales be restored to December 2004 levels after a certain period.
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Enron trial spawns trading, betting
Feb 10 2006 4:16PM (CT)
HOUSTON (AP) - Long before Enron Corp. drowned in scandal, its former chiefs Kenneth Lay and Jeffrey Skilling trumpeted the company's savvy in creating trading markets beyond energy. Now it turns out they are the subjects of futures contracts that allow investors to wager on whether they will be convicted of fraud and conspiracy charges.
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Indonesia seeks new deal with Freeport
Feb 10 2006 4:12PM (CT)
JAKARTA, Indonesia (AP) - Indonesia wants to renegotiate its profit-sharing agreement with U.S. mining giant Freeport because of soaring mineral prices on the global market, Indonesia's vice president said Friday.
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Ex-Bank of China managers plead not guilty
Feb 10 2006 4:02PM (CT)
LAS VEGAS (AP) - Two former Bank of China managers and their wives pleaded not guilty Friday to charges they embezzled $485 million in China and tried to launder the money in Hong Kong, Canada and the United States.
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Low-cost airline pioneer Laker dies
Feb 10 2006 3:48PM (CT)
MIAMI (AP) - Sir Freddie Laker, who changed the face of air travel with his low-cost trans-Atlantic Skytrain service that challenged the industry giants in the 1970s, has died. He was 83.
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Push is on for LNG to boost its supplies
Feb 10 2006 3:35PM (CT)
HOUSTON (AP) - Since hurricanes Katrina and Rita slammed the Gulf Coast nearly five months ago, the region has lost more than 610 billion cubic feet of natural gas production. That's about 3 percent of the nation's annual production and enough to power homes in eight Southern states, including Texas, Louisiana and Mississippi for one year, according to the American Gas Association.
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Texas town to house LNG storage facility
Feb 10 2006 3:27PM (CT)
QUINTANA, Texas (AP) - The only business left in this beachfront town of 38 residents is the Quintana Yacht Club _ a restaurant with fresh seafood but no yachts. That number doubles next year.
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For U.S., dependence on LNG carries risks
Feb 10 2006 3:25PM (CT)
WASHINGTON (AP) - The United States is increasingly going overseas to meet its natural gas needs, setting in motion a significant shift with a familiar, if unpleasant, side effect for the world's largest energy consumer.
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US Airways adjusts plane deal with Embraer
Feb 10 2006 3:09PM (CT)
SAO PAULO, Brazil (AP) - US Airways Group Inc. will buy larger planes than originally planned from Brazilian manufacturer Embraer, the two companies announced Friday.
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Overseas furniture not issue for consumers
Feb 10 2006 2:37PM (CT)
LEXINGTON, N.C. (AP) - Bob Stec works in a company town _ a furniture town. A town so tightly tied to the business of making tables and chairs and sofas and beds that they share the same name. But Bob Stec is an importer.
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Telecom carriers Choice One, CTC to merge
Feb 10 2006 2:33PM (CT)
BOSTON (AP) - CTC Communications Corp. and Choice One Communications Inc., two privately held telecommunications carriers, Friday said they will combine to form a company with more than 100,000 customers, most of them businesses in the Northeast.
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Lance shares fall on 4Q results, outlook
Feb 10 2006 2:28PM (CT)
CHARLOTTE (AP) - Lance Inc. stock fell Friday after the snack-maker's fourth-quarter results showed its recent acquisition of Tom's Foods Inc. is taking a bigger bite out of earnings than Wall Street expected.
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Oil prices still hover near $62 a barrel
Feb 10 2006 1:53PM (CT)
VIENNA, Austria (AP) - Crude-oil futures fell Friday on reports of falling demand and bulging supplies, though oil prices are still hovering near $62 a barrel amid concerns about unrest and political tensions in major producing nations.
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Sempra builds 1st LNG terminal in Mexico
Feb 10 2006 1:32PM (CT)
ENSENADA, Mexico (AP) - In late 2003, Sempra Energy's bid to build the first liquefied natural gas terminal in western North America was in deep trouble. Plans to import gas from Bolivia sparked a popular uprising that killed dozens of people and toppled the government there.
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J.L. French Automotive files Chapter 11
Feb 10 2006 1:25PM (CT)
WASHINGTON (AP) - J.L. French Automotive Castings Inc. on Friday filed for Chapter 11 bankruptcy protection, the latest such filing to rock the auto-parts industry.
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Wabash National shares fall on downgrade
Feb 10 2006 1:22PM (CT)
NEW YORK (AP) - Wabash National Corp. stock fell Friday after Bear Stearns downgraded the truck trailer manufacturer, citing valuation and a weak 2006 outlook.
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Black eager to proceed with fraud trial
Feb 10 2006 1:19PM (CT)
CHICAGO (AP) - Former media tycoon Conrad Black said Friday he's eager to get on with his fraud and racketeering trial and reiterated his defiance of the case he has called a massive smear job against him.
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Softbank returns to profit in 3rd quarter
Feb 10 2006 1:17PM (CT)
TOKYO (AP) - Japanese Internet service company Softbank Corp. reported a profit Friday for its third fiscal quarter, reversing a year-earlier loss with the help of rising revenue from its broadband Internet service.
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Amer Sports posts jump in 4Q net profit
Feb 10 2006 12:55PM (CT)
HELSINKI, Finland (AP) - Finnish sports-equipment maker Amer Sports Corp., the owner of the Wilson and Precor brands, reported a 31 percent increase in fourth-quarter net profit but a doubling of revenue, mainly from acquiring French sports company Salomon.
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Puma 4Q earnings up 15 percent to $52.7M
Feb 10 2006 12:53PM (CT)
FRANKFURT, Germany (AP) - Puma AG, a maker of athletic shoes and apparel, reported a better-than-expected 15 percent increase in fourth-quarter earnings Friday and looked ahead to strong sales during this year's soccer World Cup.
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VW warns up to 20,000 jobs may be cut
Feb 10 2006 12:52PM (CT)
FRANKFURT, Germany (AP) - Volkswagen AG warned that as many as 20,000 jobs could be cut in the next three years under a restructuring plan announced Friday, as Europe's biggest automaker tries to trim costs at home and improve its tiny U.S. market share.
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BioMimetic Therapeutics plans IPO
Feb 10 2006 12:26PM (CT)
WASHINGTON (AP) - BioMimetic Therapeutics Inc. Friday said it's planning an initial public offering of stock worth as much as $50 million.
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QinetiQ's IPO brings windfall to firm
Feb 10 2006 11:56AM (CT)
LONDON (AP) - Shares of British defense company QinetiQ Group PLC made a solid stock-exchange debut on Friday, bringing a controversial windfall return to the Washington-based private-equity firm Carlyle Group.
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Mazda third-quarter profit up on sales
Feb 10 2006 11:51AM (CT)
TOKYO (AP) - Mazda Motor Corp. said Friday its third-quarter profit jumped 39 percent from the previous year, and raised its full-year forecast to what would become a record for the Japanese automaker for the second straight year.
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China reports rise in industrial accidents
Feb 10 2006 11:48AM (CT)
SHANGHAI, China (AP) - More than 6,000 people died in accidents in China's coal mines and petroleum industries last year, with the proportion of those killed in major disasters rising sharply, the government reported Friday.
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Textile workers get crash course in survival
Feb 10 2006 11:41AM (CT)
PONTE DA BARCA, Portugal (AP) - Ninety textile workers in northern Portugal have waged a personal battle against the dispassionate forces of the world economy.
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Sony BMG names new CEO to replace Lack
Feb 10 2006 11:11AM (CT)
FRANKFURT, Germany (AP) - The chief executive and chairman of the board are trading hats in a shake-up at Sony BMG Music Entertainment, the powerhouse record company behind such pop stars as Britney Spears, OutKast and Travis Tritt.
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Consumer prices in Germany fell in Jan.
Feb 10 2006 11:01AM (CT)
FRANKFURT, Germany (AP) - Consumer prices in Germany fell 0.5 percent in January, a decline from the previous month driven by seasonal factors, the government's Federal Statistics Office reported Friday.
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PSA International drops bid for P&O
Feb 10 2006 10:22AM (CT)
SINGAPORE (AP) - A takeover battle for British shipper Peninsular & Oriental Steam Navigation Co. effectively ended Friday when Singapore-based PSA International pulled out of the running.
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Estimate: French economy grew in 4Q
Feb 10 2006 10:04AM (CT)
PARIS (AP) - France's economic growth slowed in the fourth quarter of 2005 after a dynamic third quarter, according to a flash estimate by national statistics institute Insee.
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Criminal complaint filed vs. Livedoor
Feb 10 2006 9:54AM (CT)
TOKYO (AP) - Japan's Securities and Exchange Surveillance Commission said Friday it has filed criminal complaints against Livedoor Co., its former president Takafumi Horie, three other former executives and Livedoor Marketing for alleged violations of the securities law.
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Trade regulator questions Intel employees
Feb 10 2006 9:50AM (CT)
SEOUL, South Korea (AP) - South Korean antitrust investigators questioned employees at Intel Corp.'s local subsidiary this week as part of an inquiry that began last year, a company spokesman said Friday.
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Top cardiologist Topol leaving clinic
Feb 10 2006 7:34AM (CT)
CLEVELAND (AP) - Dr. Eric Topol, the world-renowned cardiologist who challenged the safety of the pain reliever Vioxx, is leaving The Cleveland Clinic to become a genetics professor.
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Enron witness to testify for seventh day
Feb 10 2006 6:54AM (CT)
HOUSTON (AP) - The first government witness in the fraud and conspiracy trial of former Enron Corp. chiefs Kenneth Lay and Jeffrey Skilling put in six days in the witness chair, with more to come.
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AIG to pay $1.64 billion to settle charges
Feb 10 2006 6:53AM (CT)
NEW YORK (AP) - American International Group Inc., one of the world's largest insurance companies, has agreed to pay $1.64 billion to resolve allegations that it used deceptive accounting practices to mislead investors and regulatory agencies.
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Consumers gain confidence in economy
Feb 10 2006 6:49AM (CT)
WASHINGTON (AP) - Consumers' confidence in the economy and their own financial fortunes climbed to a 16-month high as better prospects for jobs and wages lifted people's spirits.
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FCC: Cable 'a la carte' would save money
Feb 10 2006 6:03AM (CT)
WASHINGTON (AP) - Most cable TV subscribers would save money if allowed to pay for only the channels they want, a Federal Communications Commission study said Thursday, reversing the agency's earlier finding that consumers wouldn't benefit.
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Oracle to lay off about 2,000 employees
Feb 10 2006 6:01AM (CT)
SAN FRANCISCO (AP) - Business software maker Oracle Corp. said Thursday that it will cut about 2,000 jobs, or more than 3 percent of its work force, as it digs for bigger profits from its recent $5.85 billion takeover of Siebel Systems Inc.
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Iowa State aims to save chicken research
Feb 10 2006 3:39AM (CT)
AMES, Iowa (AP) - Iowa State University is working to safeguard the genetic material of what scientists there say is an irreplaceable collection of research chickens.
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Hillenbrand names Soderberg as new CEO
Feb 10 2006 12:17AM (CT)
BATESVILLE, Ind. (AP) - Casket and hospital-bed maker Hillenbrand Industries Inc. has appointed a member of its board as chief executive.
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Discrimination claims fall for third year
Feb 10 2006 12:03AM (CT)
WASHINGTON (AP) - Fewer charges of discrimination against private employers were filed with the U.S. Equal Employment Opportunity Commission last year for a third straight year.
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