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Newmont to pay $30M to end pollution suit
Feb 15 2006 11:26PM (CT)
JAKARTA, Indonesia (AP) - Newmont Mining Corp. agreed to pay Indonesia $30 million as part of an agreement reached Thursday to end a civil suit over allegations the company polluted a bay.
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Japanese stocks rise; dollar down vs. yen
Feb 15 2006 11:22PM (CT)
TOKYO (AP) - Japanese stocks rose Thursday morning as investors awaited Friday's fourth quarter economic growth figures for further signs that a much-anticipated economic recovery is on track.
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HP 1st-quarter profit up to $1.2 billion
Feb 15 2006 11:17PM (CT)
SAN JOSE, Calif. (AP) - Hewlett-Packard Co.'s fiscal first-quarter profit jumped 30 percent as the printer and computer company saw cost-saving benefits from a restructuring announced last year and strong sales in notebook computers and printing supplies.
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Washington Mutual trimming 2,500 jobs
Feb 15 2006 10:16PM (CT)
SEATTLE (AP) - Washington Mutual Inc., the nation's largest savings and loan, said Wednesday it will cut 2,500 jobs in the coming months by closing 10 home loan-processing centers and more than three dozen smaller support offices as it trims staff to match slower demand for mortgages.
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N.H. House rejects bill aimed at employers
Feb 15 2006 9:58PM (CT)
CONCORD, N.H. (AP) - The New Hampshire House soundly rejected a bill Wednesday that would make the state's largest employers spend 8 percent of their payroll on health insurance.
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Merck executive testifies in Vioxx trial
Feb 15 2006 9:43PM (CT)
NEW ORLEANS (AP) - Merck & Co. included the idea that its painkiller Vioxx might increase the risk of heart attacks in the first draft of a paper submitted to a top medical journal, but dropped it because a reviewer found the section "awkward," a company executive testified.
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Canada loses round in WTO appeal on duties
Feb 15 2006 8:52PM (CT)
TORONTO (AP) - The World Trade Organization ruled Wednesday that the United States complied with its international obligations in applying antidumping duties against Canadian lumber imports, a Canadian official said.
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California attorney general sues H&R Block
Feb 15 2006 8:31PM (CT)
SAN FRANCISCO (AP) - California Attorney General Bill Lockyer sued H&R Block Inc. Wednesday, seeking to overhaul a widely used loan program that entitles the nation's largest tax preparer to a chunk of its customers' tax refunds.
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RadioShack to probe errors in CEO resume
Feb 15 2006 8:30PM (CT)
DALLAS (AP) - The board of RadioShack Corp. said Wednesday it would hire outside lawyers to investigate errors in Chief Executive David Edmondson's resume, including claims that he earned two college degrees for which the school he attended has no records.
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Northwest fate may hang on judge's decision
Feb 15 2006 8:27PM (CT)
MINNEAPOLIS (AP) - Union negotiations at Northwest Airlines are in a critical phase this week, with a judge expected to rule Friday on whether the company can throw out contracts with pilots and flight attendants.
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Calpine ups director pay after layoffs
Feb 15 2006 8:23PM (CT)
SAN FRANCISCO (AP) - Calpine Corp.'s directors voted to almost triple their salaries a week after the bankrupt power generator unveiled a cost-cutting plan that will fire 300 employees, or about 9 percent of its work force.
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Office Depot 4Q profit doubles
Feb 15 2006 7:50PM (CT)
WEST PALM BEACH, Fla. (AP) - Office Depot Inc., the nation's second-largest chain of office supply stores, said Wednesday that its fourth-quarter profit doubled on lower costs and an uptick in revenue.
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Numerous U.S. areas see home price gains
Feb 15 2006 7:47PM (CT)
WASHINGTON (AP) - The sizzling housing market may have cooled at the end of 2005, but still-surging home prices did not reflect it, according to a report Wednesday from a real estate trade group.
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Expedia 4Q earnings, shares decline
Feb 15 2006 7:45PM (CT)
BELLEVUE, Wash. (AP) - Internet travel service provider Expedia Inc. said Wednesday its fourth-quarter profit declined in what the company called a "fiercely competitive environment," and shares tumbled after hours.
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Bernanke sees economy growing in 2006
Feb 15 2006 7:23PM (CT)
WASHINGTON (AP) - New Federal Reserve Chairman Ben Bernanke said Wednesday the economy is on track for good growth this year, sticking closely to predecessor Alan Greenspan's script with one big difference: His comments were much easier to understand.
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Rice: Skilling misleading on Enron unit
Feb 15 2006 6:59PM (CT)
HOUSTON (AP) - Former Enron Corp. Chief Executive Jeffrey Skilling misled employees and Wall Street about a flailing business unit's strength in early 2001, but the unit's former CEO said Wednesday he never corrected his boss.
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Canada OKs Arcelor's purchase of Dofasco
Feb 15 2006 6:14PM (CT)
LUXEMBOURG (AP) - Steelmaker Arcelor SA, the target of a hostile bid from Mittal Steel Co., said Wednesday it had received the last necessary regulatory approval to acquire steel firm Dofasco Inc. after Canada approved the deal.
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MeadWestvaco to move headquarters to Va.
Feb 15 2006 6:13PM (CT)
RICHMOND, Va. (AP) - Packaging company MeadWestvaco Corp. is moving its corporate headquarters from Connecticut to Virginia, the company announced Wednesday.
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Treasury prices finish little changed
Feb 15 2006 6:02PM (CT)
NEW YORK (AP) - Treasury prices ended little changed Wednesday, after a familiar message on inflation and the economy from Federal Reserve Chairman Ben Bernanke that left investors bracing for more interest rate hikes ahead.
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Pratt & Whitney to make GE engine parts
Feb 15 2006 6:01PM (CT)
EAST HARTFORD, Conn. (AP) - Pratt & Whitney said Wednesday it is starting a business that will produce spare parts for a jet engine manufactured by rival General Electric Co.
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Ford analyst sees market share dropping
Feb 15 2006 5:52PM (CT)
DETROIT (AP) - Ford Motor Co.'s top U.S. sales analyst said Wednesday the automaker's U.S. market share will probably continue to decline this year despite its turnaround efforts.
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Lucent shareholders OK exec pay proposals
Feb 15 2006 5:48PM (CT)
MURRAY HILL, N.J. (AP) - Shareholders of Lucent Technologies Inc. on Wednesday approved proposals urging the board of the telecommunications-equipment maker to link executive compensation more closely to company performance.
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Biogen Idec 4Q profit soars to $55.6M
Feb 15 2006 5:46PM (CT)
BOSTON (AP) - Biogen Idec Inc. on Wednesday said its fourth-quarter profit almost doubled on strong sales of a multiple sclerosis medication and a cancer drug.
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Baxter board OKs $1.5B stock buyback
Feb 15 2006 5:39PM (CT)
DEERFIELD, Ill. (AP) - Medical products maker Baxter International Inc. said Wednesday its board of directors has authorized the repurchase of as much as $1.5 billion of the company's common stock.
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Phelps Dodge rejects calls to add debt
Feb 15 2006 5:37PM (CT)
PHOENIX (AP) - Copper miner Phelps Dodge Corp. said Wednesday it rejected calls by hedge-fund manager Atticus Capital LLC to add debt to its books to pay for further share repurchases, a proposal it called "reckless."
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Procter & Gamble asks court for injunction
Feb 15 2006 5:36PM (CT)
CHARLOTTE, N.C. (AP) - Procter & Gamble Co. said Wednesday it is asking a federal court for an injunction against the manufacturer of a private-label mouthwash.
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Applied Materials 1Q profit down to $143M
Feb 15 2006 5:34PM (CT)
SAN FRANCISCO (AP) - Applied Materials Inc. said Wednesday its first-quarter profit fell 51 percent, hurt by charges, while sales and orders rose.
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Wednesday's commodities roundup
Feb 15 2006 5:34PM (CT)
NEW YORK (AP) - Gold prices dropped Wednesday due to fund selling, while the U.S. dollar made gains against the euro.
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Caremark Rx 4Q earnings rise to $290.7M
Feb 15 2006 5:13PM (CT)
NASHVILLE, Tenn. (AP) - Pharmacy benefits manager Caremark Rx Inc. on Wednesday said profit rose more than 40 percent in the fourth quarter, driven by its prescriptions by mail business.
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Tyson Foods to close beef plants in Neb.
Feb 15 2006 5:11PM (CT)
SPRINGDALE, Ark. (AP) - Tyson Foods Inc. said Wednesday that it would close two Nebraska beef facilities with 1,665 workers and move the work to a plant being renovated in that state.
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Merrill Lynch secures stake in Blackrock
Feb 15 2006 4:57PM (CT)
NEW YORK (AP) - Retail brokerage giant Merrill Lynch & Co. Inc. has agreed to combine its asset-management business with money manager BlackRock Inc. in exchange for a nearly 50 percent stake in BlackRock.
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Herbalife rebounds from founder's death
Feb 15 2006 4:39PM (CT)
LOS ANGELES (AP) - Herbalife International thrived under founder Mark Hughes. Handsome, young and buoyed by his rags-to-riches story, Hughes built a billion-dollar business over two decades by inspiring legions of people around the world to buy and sell his nutritional supplements and other health products. But his death in 2000 from a drug and alcohol overdose sent the company reeling.
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Italian regulators fine Eni $345 million
Feb 15 2006 4:13PM (CT)
ROME (AP) - Italian antitrust regulators are fining energy giant Eni SpA 290 million euros ($345 million) for abusing its dominant position by "hindering the entrance of independent operators" on the national market for natural gas.
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IRobot shares fall 21 percent
Feb 15 2006 4:00PM (CT)
NEW YORK (AP) - Shares of IRobot Corp. fell sharply Wednesday after the manufacturer of behavior-based robots said it will increase its research and development, and selling and marketing budgets _ leading to a decrease in its 2006 results.
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Judge OKs Delta jet lease renegotiations
Feb 15 2006 3:24PM (CT)
NEW YORK (AP) - A federal bankruptcy judge Wednesday approved Delta Air Lines Inc.'s lease renegotiations for 88 jets, a move that will save it about $200 million a year.
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Chile agency OKs plans for open-pit mine
Feb 15 2006 3:21PM (CT)
SANTIAGO, Chile (AP) - Ambitious plans for an open-pit mine high in the Andes mountains were unanimously approved Wednesday by a Chilean environmental agency, but the project's future remained unclear because the agency rejected its most controversial aspect _ relocating three glaciers to reach the gold underneath.
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Saab's 4Q profits fall on restructuring
Feb 15 2006 2:29PM (CT)
STOCKHOLM, Sweden (AP) - Swedish defense and aerospace company Saab AB posted an almost 8 percent drop in fourth-quarter net profit Wednesday, mainly as a result of restructuring charges.
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FDA issues new guidance on whole grains
Feb 15 2006 2:18PM (CT)
WASHINGTON (AP) - The Food and Drug Administration issued new guidelines Wednesday to help people figure out which bread or cereal meets the government's recommendations for eating heart-healthy whole grains.
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Total 4Q net income drops to $2.78 billion
Feb 15 2006 2:01PM (CT)
PARIS (AP) - Hurricanes and high raw material costs drove French oil company Total SA's fourth-quarter profit down 37 percent, the company said Wednesday, but surging oil prices still lifted it to a record profit for the full year.
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London shares fall
Feb 15 2006 12:50PM (CT)
LONDON (AP) - Share prices fell on the London Stock Exchange Wednesday.
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SEC pulls 25 stock registrations
Feb 15 2006 12:36PM (CT)
WASHINGTON (AP) - The Securities and Exchange Commission Wednesday revoked the stock registrations of 25 companies that failed to file quarterly and annual reports with the commission _ the largest such effort in a single day.
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Kindly capitalists fill fair-trade niche
Feb 15 2006 12:33PM (CT)
ROCHESTER, N.Y. (AP) - Teresa Fritschi seeks out artisans in hidden corners of Scotland, pays generously for their lamb's-wool blankets, Orkney driftwood chairs and organic-tweed jackets, and peddles their indigenous craftsmanship to a far-flung audience over the Internet.
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CAFTA delays costing jobs, investment
Feb 15 2006 12:29PM (CT)
GUATEMALA CITY (AP) - Jacobo Kattan was hoping to build an industrial park and create 8,000 new jobs after the expected implementation of a regional free-trade pact last month. Instead, he's had to fire 2,000 workers and close three clothing factories.
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Chinese computer maker makes Olympic push
Feb 15 2006 12:22PM (CT)
TURIN, Italy (AP) - The Lenovo Internet cafe in the Olympic Village seems a marketer's dream. The Lenovo name is splashed on the wall and each of the 34 work stations where athletes and trainers from Australia to Sweden tap out e-mails to friends and family.
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French bank BNP Paribas says 4Q profit up
Feb 15 2006 12:16PM (CT)
PARIS (AP) - BNP Paribas SA, one of France's biggest banks, said Wednesday that strong revenue growth from its international retail business and corporate investment bank helped lift its fourth-quarter profit by 15 percent.
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Kazakhstan to buy stake in oil producer
Feb 15 2006 12:12PM (CT)
ASTANA, Kazakhstan (AP) - Kazakhstan's prime minister said Wednesday that his government was in the final stages of talks to buy a 33 percent share in a major Canada-based oil producer acquired by China.
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Commerzbank reports solid outlook for 2006
Feb 15 2006 12:05PM (CT)
FRANKFURT, Germany (AP) - Commerzbank AG, which saw fourth-quarter earnings more than triple, said Wednesday it wants to make acquisitions in Eastern Europe and expand its retail business at home by courting more small businesses.
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Media honcho Redstone is sued by his son
Feb 15 2006 12:01PM (CT)
NEW YORK (AP) - The son of Sumner Redstone, the controlling shareholder of CBS Corp. and Viacom Inc., is suing his father over what he says is a campaign to cut him out of family business interests.
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Mittal Steel's 4Q profit declines
Feb 15 2006 11:52AM (CT)
LONDON (AP) - Mittal Steel Co., the world's largest steelmaker, said it is winning over European politicians opposed to its hostile bid for competitor Arcelor SA as it unveiled substantial declines in fourth-quarter and full-year earnings Wednesday.
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Japan Air chief rejects calls he resign
Feb 15 2006 11:14AM (CT)
TOKYO (AP) - The president of Japan Airlines Corp. on Wednesday rejected calls by several board members that he resign, saying his main responsibility lay in regaining confidence in Japan's largest carrier after an embarrassing spate of safety lapses.
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Lego reports return to profitability
Feb 15 2006 10:45AM (CT)
COPENHAGEN, Denmark (AP) - Danish toy maker Lego Group said Wednesday it returned to profitability in 2005 and expects to post a profit in 2006, while warning that it expected a "difficult year" and will move at least some production facilities to low-wage countries.
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China announces plan to combat pollution
Feb 15 2006 10:40AM (CT)
SHANGHAI, China (AP) - China announced a plan Wednesday to combat widespread pollution and leave a better environment for future generations, citing the need to stave off possible social instability.
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Nasdaq unveils new listing standards
Feb 15 2006 10:18AM (CT)
NEW YORK (AP) - The Nasdaq Stock Market Inc. on Wednesday unveiled plans to create new listing standards for its listed companies, a move designed to help the Nasdaq better compete with the New York Stock Exchange for prestigious corporations.
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Stocks slip on interest rate jitters
Feb 15 2006 9:55AM (CT)
NEW YORK (AP) - Stocks fell slightly Wednesday as strong data from the manufacturing sector resurrected investors' fears that the Federal Reserve would raise short-term interest rates higher than Wall Street has anticipated.
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Bank of England expects economic growth
Feb 15 2006 9:48AM (CT)
LONDON (AP) - The Bank of England expects growth in the British economy will accelerate by midyear from its lowest levels in more than a decade even as government statistics released Wednesday showed the quarterly jobless rate has risen to the highest level in three years.
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50 securities firms to give up windfalls
Feb 15 2006 9:47AM (CT)
TOKYO (AP) - Fifty securities firms, including UBS and Lehman Brothers, will give up over 20 billion yen ($170 million) in profits gained from a trading error, donating the gains to a fund for strengthening Japan's stock trading system, a securities deal group said.
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German bank to pay $29M for tax fraud
Feb 15 2006 9:46AM (CT)
NEW YORK (AP) - A German bank charged with tax fraud will pay $29 million after admitting it helped wealthy Americans dodge taxes over a seven-year period, its lawyers have agreed in court.
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GM to keep making Opel minivan in Spain
Feb 15 2006 9:11AM (CT)
MADRID, Spain (AP) - General Motors Corp.'s European division said Wednesday it will keep making the Opel Meriva minivan in Spain, citing cost, productivity and other factors as it chose an existing assembly line _ rather than one in Poland _ to produce the new generation of the vehicle.
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Danone's profit more than triples in '05
Feb 15 2006 7:43AM (CT)
PARIS (AP) - French food giant Groupe Danone on Wednesday reported net profit more than tripled to 1.46 billion euros ($1.74 billion) in 2005, bouncing back a year after heavy charges to its U.S. and European water delivery businesses.
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Calif. farmers launch agritourism project
Feb 15 2006 7:14AM (CT)
BEAUMONT, Calif. (AP) - The route to Riley's Farm starts at an exit off Interstate 10, followed by a nine-mile drive through the center of this bustling city, past the new subdivisions popping up everywhere and finally up a winding road.
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Australia seeks talks on wheat import halt
Feb 15 2006 6:53AM (CT)
SYDNEY, Australia (AP) - Australia will send envoys to Iraq to discuss Baghdad's decision to halt imports from an Australian wheat exporter accused of corruption during the U.N. oil-for-food program, the prime minister said Wednesday.
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Credit Suisse posts 15 percent rise in 4Q
Feb 15 2006 6:43AM (CT)
ZURICH, Switzerland (AP) - Credit Suisse Group, Switzerland's second-largest bank, posted a 15 percent rise in fourth-quarter net profit Wednesday and said it would raise its payout to shareholders.
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Nintendo DS machine to work as portable TV
Feb 15 2006 5:58AM (CT)
TOKYO (AP) - The Nintendo DS handheld video-game machine will work as a portable TV with a card equipped with a tuner and antenna that allows people to watch digital broadcast, the company president said Wednesday.
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BHP reports highest half-year profit
Feb 15 2006 5:34AM (CT)
SYDNEY, Australia (AP) - Anglo-Australian mining giant BHP Billiton on Wednesday posted the highest half-year net profit in Australian corporate history thanks to soaring commodity prices driven up by voracious demand from China.
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Thai Airways says profits drops 33 pct.
Feb 15 2006 5:32AM (CT)
BANGKOK, Thailand (AP) - Thai Airways International said Wednesday that net profit fell 33 percent in the October-December quarter as high oil prices took a big bite out of operating expenses.
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Japan Airlines cooperating in cargo probe
Feb 15 2006 3:02AM (CT)
TOKYO (AP) - Japan Airlines Corp. said Wednesday it was fully cooperating with an investigation by U.S. and European authorities into alleged price fixing with several other carriers in the air cargo industry.
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Boston Scientific, Guidant await approval
Feb 15 2006 2:55AM (CT)
INDIANAPOLIS (AP) - If it hopes to stay on track with its acquisition timetable, Boston Scientific Corp. has about six weeks to complete its $27.2 billion deal to buy medical device maker Guidant Corp.
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Tata America sued over tax refunds
Feb 15 2006 2:15AM (CT)
SAN FRANCISCO (AP) - An Indian employee of an information technology consulting company filed a lawsuit Tuesday alleging he and other foreign workers were required to give their employers their tax refunds.
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