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Investor sentiment sours on Google
Feb 13 2006 10:27PM (CT)
SAN FRANCISCO (AP) - Google Inc.'s stock price dropped by more than 4 percent Monday, accelerating a recent shift in sentiment that has caused once-ebullient investors to become more circumspect about the online search engine leader.
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Valentine's Day research key for Hallmark
Feb 13 2006 10:25PM (CT)
KANSAS CITY, Mo. (AP) - Turns out love may actually be a universal language. The world's largest greeting card maker, Hallmark Cards Inc., has for the first time analyzed individual cities' data for top-selling Valentines, and it yielded a surprising result.
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Ex-gas trader wants indictment thrown out
Feb 13 2006 10:11PM (CT)
HOUSTON (AP) - A natural gas trader who pleaded guilty last year to filing false natural gas price data is asking a judge to throw out his indictment.
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Japanese stocks edge lower; dollar down
Feb 13 2006 9:42PM (CT)
TOKYO (AP) - Japanese stocks edged lower Tuesday during lackluster trading as investors waited for economic growth figures to be released later this week. The dollar was lower against the yen.
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Editor reverses testimony in Vioxx retrial
Feb 13 2006 8:45PM (CT)
NEW ORLEANS (AP) - The widow, son and youngest daughter of a Florida man who had a fatal heart attack after taking Vioxx for a month told jurors Monday how his death hurt them, and rested their case as the retrial of the first federal Vioxx case entered its second week.
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Genesee & Wyoming to sell division
Feb 13 2006 8:20PM (CT)
GREENWICH, Conn. (AP) - Railroad operator Genesee & Wyoming on Monday said it plans to sell its jointly owned Western Australia operations to an Australian group for $956 million.
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Moody's cuts Boston Scientific ratings
Feb 13 2006 7:47PM (CT)
BOSTON (AP) - Moody's Investors Service on Monday lowered Boston Scientific Corp.'s long-term debt ratings, citing the debt risks the medical device maker is taking on in its $27 billion acquisition of Guidant Corp.
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GM, Mich. officials to make announcement
Feb 13 2006 7:41PM (CT)
PONTIAC, Mich. (AP) - General Motors Corp. and Michigan officials were to make an announcement Tuesday about five of the automaker's manufacturing sites in the state.
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AMR CFO steps down to take Symantec post
Feb 13 2006 7:32PM (CT)
FORT WORTH, Texas (AP) - AMR Corp., the parent of American Airlines, said Monday that its chief financial officer is leaving to join software company Symantec Corp.
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Review of Whirlpool-Maytag deal extended
Feb 13 2006 7:31PM (CT)
BENTON HARBOR, Mich. (AP) - Whirlpool Corp. and Maytag Corp. said Monday that the Justice Department is extending its review of Whirlpool's proposed $1.79 billion acquisition of rival Maytag by a month to March 30.
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Court nixes suit against Pratt & Whitney
Feb 13 2006 7:11PM (CT)
HARTFORD, Conn. (AP) - The state Supreme Court has rejected a wrongful death claim by families who sued Pratt & Whitney over workers' brain cancer deaths, according to a plaintiff in the case.
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Merrill Lynch said seeking BlackRock stake
Feb 13 2006 7:08PM (CT)
NEW YORK (AP) - In a deal with broad ramifications for the securities industry, retail brokerage giant Merrill Lynch & Co. Inc. is in talks to trade its asset-management business for a large stake in money manager BlackRock Inc., according to reports published Monday.
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Lay reveals losses before Enron implosion
Feb 13 2006 7:07PM (CT)
HOUSTON (AP) - Enron Corp. founder Kenneth Lay disclosed hundreds of millions of dollars in quarterly losses and a surprise $1.2 billion writedown in shareholder equity six weeks before the company fell into bankruptcy proceedings in December 2001, jurors in his fraud and conspiracy trial heard Monday on a tape of a quarterly earnings conference call.
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Drug companies stop recruiting for test
Feb 13 2006 7:04PM (CT)
SAN FRANCISCO (AP) - Biotechnology company Genentech Inc. and its majority stockholder Roche Holding AG said Monday they temporarily halted recruiting volunteers for a large human test of the blockbuster cancer drug Avastin after more patients than expected died.
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Sara Lee to close Chicago coffee plant
Feb 13 2006 6:56PM (CT)
CHICAGO (AP) - Food and clothing manufacturer Sara Lee Corp. said Monday it is closing down operations at its Superior coffee roasting plant in Chicago, resulting in 80 jobs being eliminated.
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Target cites storm for reduced forecast
Feb 13 2006 6:54PM (CT)
NEW YORK (AP) - Target Corp. reduced its sales forecast for February, citing the impact of the record-breaking snowstorm that hit the Northeast on Sunday.
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Cendant 4Q income up 50 percent to $537M
Feb 13 2006 6:27PM (CT)
NEW YORK (AP) - Hospitality and real-estate conglomerate Cendant Corp. said Monday its fourth-quarter income rose 50 percent on a hefty gain from discontinued operations, and the company lowered its first-quarter outlook on weaker results from its real-estate services and vehicle-rental businesses.
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Fannie Mae falls short of goals in 2005
Feb 13 2006 5:44PM (CT)
WASHINGTON (AP) - Mortgage giant Fannie Mae last year fell a bit short of some of the government-set goals for making home ownership affordable as it worked to untangle its accounting in an $11 billion scandal.
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Kanbay Int'l to buy Adjoined Consulting
Feb 13 2006 5:36PM (CT)
NEW YORK (AP) - Software company Kanbay International Inc. said Monday it has agreed to acquire privately-held Adjoined Consulting Inc. for $165 million in cash and stock, in a deal expected to be immediately cash accretive.
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Monday's commodities roundup
Feb 13 2006 5:34PM (CT)
NEW YORK (AP) - Precious metals dropped Monday after long liquidation took the shine out of gold, which fell to a five-week low at $541.80 an ounce.
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ProSiebenSat.1 owners won't sell company
Feb 13 2006 5:27PM (CT)
FRANKFURT, Germany (AP) - The U.S. holding company that controls German broadcaster ProSiebenSat.1 Media AG said Monday it doesn't plan to shop the company around again after regulators blocked a merger with rival Axel Springer AG.
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Statoil 4Q earnings decline 15 percent
Feb 13 2006 5:26PM (CT)
OSLO, Norway (AP) - Statoil ASA, an oil company controlled by Norway's government, on Monday reported a 15 percent drop in fourth-quarter profit, despite a sharp increase in revenue, mainly due to the write-down of the value of an oil field in Iran and a one-time tax payment.
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U.S. pledges enforcement of Cuba embargo
Feb 13 2006 5:06PM (CT)
WASHINGTON (AP) - A diplomatic rift with Mexico will not result in any changes in how the United States enforces laws that prohibit U.S. companies from doing business with Cuba, the Bush administration said Monday.
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Deutsche Post to buy Williams Lea stake
Feb 13 2006 5:04PM (CT)
FRANKFURT, Germany (AP) - Deutsche Post AG, Europe's biggest postal company and owner of shipper DHL, said Monday it will pay about $443 million for a 75 percent stake in Britain's Williams Lea Group Ltd. with an eye toward acquiring it completely.
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W&T Offshore shares up on outlook boost
Feb 13 2006 5:02PM (CT)
NEW YORK (AP) - W&T Offshore Inc. shares rose Monday after an analyst raised the company's investment ratings, citing its pending $1.34 billion buy of Kerr-McGee Corp.'s Gulf of Mexico oil and gas properties.
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Basin Water files for IPO
Feb 13 2006 5:00PM (CT)
WASHINGTON (AP) - Basin Water Inc., which makes systems to treat contaminated groundwater, Monday said it plans to go public in an initial offering of stock worth as much as $52.75 million.
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Roche stops recruiting for drug trials
Feb 13 2006 4:58PM (CT)
BASEL, Switzerland (AP) - Pharmaceutical maker Roche Holding AG said Monday it has stopped recruiting patients to test its cancer drug Avastin in late stage clinical trials after the deaths of some patients.
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Exec: VW brand must improve productivity
Feb 13 2006 4:57PM (CT)
FRANKFURT, Germany (AP) - Volkswagen AG's flagship brand must improve productivity and operations considered to be uncompetitive could be shut down, the head of the brand said.
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Co-founder of Chesapeake Energy resigns
Feb 13 2006 4:55PM (CT)
OKLAHOMA CITY (AP) - Tom L. Ward, who co-founded Chesapeake Energy Corp. and helped build it into the second largest independent U.S. producer of natural gas, announced his resignation Monday, saying he wants to pursue other interests.
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Oil prices finish above $61 per barrel
Feb 13 2006 4:50PM (CT)
NEW YORK (AP) - Oil futures fell Monday and analysts said retail gasoline prices could soon dip below $2 a gallon in some parts of the country. But traders said any relief would likely be short-lived, warning of an upturn in prices come spring.
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P&O shareholders vote to accept takeover
Feb 13 2006 4:31PM (CT)
LONDON (AP) - Shareholders in British shipping company Peninsular & Oriental Steam Navigation Co. overwhelmingly voted in favor of a takeover bid from Dubai's DP World Monday.
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WTO backs ruling against U.S. tax breaks
Feb 13 2006 4:08PM (CT)
GENEVA (AP) - The World Trade Organization upheld a ruling condemning tax breaks for some U.S. companies operating overseas, saying Monday that Washington has about three months to bring its legislation into line.
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EU, Central America to decide on talks
Feb 13 2006 3:52PM (CT)
TEGUCIGALPA, Honduras (AP) - The European Union and Central American officials will decide whether to launch free trade talks in May, officials said Monday.
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TVA blames fuel costs for rate hike
Feb 13 2006 3:42PM (CT)
KNOXVILLE, Tenn. (AP) - Electric rates will go up nearly 10 percent this spring for customers of the Tennessee Valley Authority after the board on Monday approved its first midyear increase in at least 25 years.
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Delta seeks OK on jet lease renegotiation
Feb 13 2006 3:25PM (CT)
NEW YORK (AP) - Delta Air Lines Inc. asked a New York bankruptcy court judge Monday to approve its renegotiation of 88 airplane leases, a move that will save it about $200 million a year.
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VeriSign to buy 3united Mobile Solutions
Feb 13 2006 3:19PM (CT)
NEW YORK (AP) - VeriSign Inc. agreed to acquire 3united Mobile Solutions AG for 55 million euros, or about $65.5 million, expanding VeriSign's portfolio of content services for communications providers in Eastern Europe.
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'Chocolate lounges' seen as rising trend
Feb 13 2006 3:15PM (CT)
CHICAGO (AP) - Former co-workers Karina Godinez, Cheryl Miller and Tara Kennedy gathered at Ethel's Chocolate Lounge in the swanky Lincoln Park neighborhood to celebrate one upcoming wedding and two first pregnancies.
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Merck: Vioxx cases shouldn't be combined
Feb 13 2006 2:45PM (CT)
ATLANTIC CITY, N.J. (AP) - Merck & Co. has filed a motion opposing a judge's plan to consolidate two Vioxx cases into one trial, saying their differing circumstances would make for a "Frankenstein's monster" of a case for jurors to consider.
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Vimpelcom makes $5B offer for Kyivstar
Feb 13 2006 2:29PM (CT)
MOSCOW (AP) - Russia's second-largest mobile operator, OAO Vimpelcom Communications, said Monday it made a $5 billion stock offer for leading Ukrainian telecom Kyivstar.
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Albany Molecular stock falls
Feb 13 2006 2:28PM (CT)
NEW YORK (AP) - Albany Molecular Research Inc. stock fell Monday after the company said revenue in the latest quarter fell from a year ago due to declining royalties from sales of Allegra, a non-sedative antihistamine.
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Aetna president to take over as CEO
Feb 13 2006 2:24PM (CT)
HARTFORD, Conn. (AP) - After helping lead the fiscal turnaround of Aetna Inc. as its president, Ronald A. Williams will take over as the company's chief executive.
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A.C. Moore shares climb
Feb 13 2006 1:16PM (CT)
NEW YORK (AP) - The stock of A.C. Moore Arts & Crafts Inc. climbed Monday after an analyst speculated that the expected departure of Chief Executive Jack Parker might lead to a sale of the company.
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Report: Deutsche Boerse may seek merger
Feb 13 2006 1:03PM (CT)
FRANKFURT, Germany (AP) - Deutsche Boerse AG, which operates the German stock exchange, is reportedly considering a merger or some sort of cooperation with a U.S. counterpart, the Financial Times reported Monday.
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CSX to pay $2M for 2001 Md. tunnel fire
Feb 13 2006 1:01PM (CT)
Baltimore (AP) - CSX Transportation has agreed to pay Baltimore $2 million to settle costs associated with cleaning up after a 2001 train derailment and tunnel fire.
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Credit Suisse takes $322M charge in 4Q
Feb 13 2006 12:53PM (CT)
ZURICH, Switzerland (AP) - Banking giant Credit Suisse group said Monday it is taking an unexpected charge of 421 million Swiss francs ($322 million) to its fourth-quarter net profit because it is advancing some share-based compensation to employees.
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Steelmaker ThyssenKrupp's 1Q profit falls
Feb 13 2006 12:37PM (CT)
FRANKFURT, Germany (AP) - German steelmaker ThyssenKrupp AG said Monday its first-quarter net profit fell 23 percent because of a decline in earnings at its stainless steel and automotive units.
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Regulators OK Arcelor move on Erdemir
Feb 13 2006 12:27PM (CT)
BRUSSELS, Belgium (AP) - European Union regulators on Monday cleared the proposed acquisition of Turkish steelmaker Erdemir by Luxembourg-based Arcelor SA, the world's second largest steelmaker, and the Turkish pension and investment fund Oyak Group.
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Cooper Tire recalling about 288,000 tires
Feb 13 2006 12:13PM (CT)
WASHINGTON (AP) - Cooper Tire & Rubber Co. said Monday that it was recalling about 288,000 replacement tires used on passenger cars and light trucks because of concerns about slow leaks and cracking in the tires.
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Analysts stand behind Google stock value
Feb 13 2006 12:08PM (CT)
NEW YORK (AP) - The idea of Google Inc. shares losing half of its value _ a whopping $50 billion _ was soundly brushed off Monday by Wall Street analysts who believe the company will continue to be a technology juggernaut.
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Court rejects Sumitomo suit against UFJ
Feb 13 2006 11:29AM (CT)
TOKYO (AP) - A Japanese court rejected a lawsuit Monday from Sumitomo Trust & Banking Co. against UFJ Holdings Inc. for scuttling a planned alliance and merging with another banking company.
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Warrior Energy Services plans IPO
Feb 13 2006 11:25AM (CT)
WASHINGTON (AP) - Warrior Energy Services Corp. Monday said it plans to go public in an initial stock offering worth as much as $172.5 million.
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Agilent Technologies 1Q profit soars
Feb 13 2006 11:05AM (CT)
PALO ALTO, Calif. (AP) - Agilent Technologies Inc., a maker of electronic test and measurement products, said Monday that its fiscal first-quarter profit ballooned, lifted by a gain from the sale of its semiconductor products business and its stake in Lumileds.
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Windsor Energy Resources files for IPO
Feb 13 2006 11:00AM (CT)
WASHINGTON (AP) - Windsor Energy Resources Inc. has registered for an initial public offering of up to $175 million in common stock.
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Luna Innovations files for IPO
Feb 13 2006 10:51AM (CT)
WASHINGTON (AP) - Luna Innovations Inc. has registered for an initial public offering of up to $57.5 million in common stock, according to a filing with the Securities and Exchange Commission.
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Reports: Putin wants G8 debt forgiveness
Feb 13 2006 10:48AM (CT)
MOSCOW (AP) - Russian President Vladimir Putin on Monday said the poorest former Soviet republics should be included in a debt forgiveness package that was agreed at last year's summit of the leaders of the world's richest nations.
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Petrobras may invest $5 billion in Bolivia
Feb 13 2006 10:29AM (CT)
SAO PAULO, Brazil (AP) - Petrobras, Brazil's state-owned oil company, and unnamed partners could invest US$5 billion in Bolivia in coming years to extract natural gas from the second-largest reserves in South America, the company said Monday.
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Livedoor ex-president Horie faces charges
Feb 13 2006 10:11AM (CT)
TOKYO (AP) - The former president of the Internet services company Livedoor was charged with securities laws violations on Monday, the latest chapter in a scandal that has riveted Japan.
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Shenhua expects to boost coal production
Feb 13 2006 10:03AM (CT)
HONG KONG (AP) - Shenhua Energy Co., China's largest coal producer, plans to increase its production by 64 percent in the next four years, the company said in a statement.
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Rosneft's nine-month profit rises sixfold
Feb 13 2006 9:22AM (CT)
MOSCOW (AP) - Russian state-owned oil group OAO Rosneft reported a sixfold increase in net profit over the first nine months of 2005 thanks to high world oil prices and its acquisition of the biggest production unit of the embattled Yukos oil company.
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Ford, Chevy spar over 2005 sales data
Feb 13 2006 9:07AM (CT)
ORLANDO, Fla. (AP) - Ford Motor Co. told dealers Sunday that new data shows the Ford brand outsold the Chevrolet brand in 2005, contradicting General Motors Corp.'s claim that Chevy came out on top.
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German public workers expand strike
Feb 13 2006 8:56AM (CT)
BERLIN (AP) - German public employees expanded their week-old strike to much of the country Monday in a deepening dispute over plans to make some of them work 40 hours a week compared to their current 38.5 hours.
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Nanjing may sign another short-term lease
Feb 13 2006 8:54AM (CT)
LONDON (AP) - The company that owns the factory site of carmaker MG Rover said Monday that China's Nanjing Automobile (Group) Corp. is likely to sign another short-term lease for the plant while it forms a long-term strategy.
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Hong Kong market watchdog probes 5 IPOs
Feb 13 2006 8:17AM (CT)
HONG KONG (AP) - Hong Kong's stock-market watchdog said Monday it is investigating five sponsors of initial public offerings on the territory's stock market as an attempt to raise corporate governance in preparation for another wave of Chinese listings this year.
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Management program links female farmers
Feb 13 2006 3:47AM (CT)
MONTGOMERY CITY, Mo. (AP) - Working a combine was no problem for Ann Whitehead, one of five daughters who grew up on a farm. But with little understanding of the business side of agriculture, she was lost when she asked a local banker for a farm loan.
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Iraq suspends dealings with exporter AWB
Feb 13 2006 2:09AM (CT)
SYDNEY, Australia (AP) - Iraq has suspended business dealings with Australia's monopoly wheat exporter until a government inquiry examining alleged corruption under the U.N. oil-for-food program is finished, the company said Monday.
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