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Japanese stocks fall; Dollar lower
Feb 21 2006 11:20PM (CT)
TOKYO (AP) - Japan's benchmark stock index fell Wednesday morning following Wall Street's decline, as investors took profits in reaction to the previous day's sharp gains. The dollar slipped against the yen and euro.
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Witness: Skilling ordered earnings changes
Feb 21 2006 10:10PM (CT)
HOUSTON (AP) - Former Enron Corp. Chief Executive Jeffrey Skilling ordered last-minute changes to at least two quarterly earnings reports so the company could meet or beat analysts' expectations, a former vice president of investor relations testified Tuesday.
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Baidu.com 4Q profit surges; shares climb
Feb 21 2006 10:08PM (CT)
NEW YORK (AP) - Beijing-based Internet search engine Baidu.com Inc. on Tuesday posted a jump in fourth-quarter profit, topping Wall Street expectations and sending shares up sharply in after-hours electronic trading.
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Medtronic 3Q earnings climb 23 percent
Feb 21 2006 10:06PM (CT)
MINNEAPOLIS (AP) - Medical device maker Medtronic Inc. reported a 23 percent jump in quarterly income Tuesday as it continued to benefit from a recall at competitor Guidant Corp. But revenue disappointed Wall Street.
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Ford's Model T plant made a landmark
Feb 21 2006 9:22PM (CT)
DETROIT (AP) - The former Ford Motor Co. Piquette Plant, the birthplace of auto pioneer Henry Ford's Model T, was designated a National Historic Landmark on Tuesday.
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U.S. auto sales drop in early February
Feb 21 2006 7:22PM (CT)
DETROIT (AP) - Sales of new vehicles fell 8 percent overall during the first two weeks in February, but there was some indication General Motors Corp.'s new vehicles and lower prices are attracting buyers, an automotive data firm reported Tuesday.
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Leading economic indicators rise in Jan.
Feb 21 2006 7:02PM (CT)
NEW YORK (AP) - A closely watched gauge of future economic activity rose sharply in January, suggesting the nation's economy could see robust growth in the spring, a private research group said Tuesday.
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Anheuser-Busch to distribute Grolsch beer
Feb 21 2006 6:32PM (CT)
ST. LOUIS (AP) - Anheuser-Busch Cos. Inc. signed a deal Tuesday to be the sole U.S. distributor of Grolsch beer, a high-end European import.
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Taser Int'l develops shotgun shells
Feb 21 2006 6:28PM (CT)
PHOENIX (AP) - The nation's largest stun-gun manufacturer is working on a new way to deliver electricity to the human body: through 12-gauge shotgun shells.
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Federated goes forward with Macy's plans
Feb 21 2006 6:25PM (CT)
CINCINNATI (AP) - Federated Department Stores Inc., which reported a 59 percent jump in earnings on Tuesday on the strength of last year's acquisition of May Department Stores Co., said it is pushing ahead with plans to build its Macy's name into a national brand.
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Carnival: Fuel costs to pressure results
Feb 21 2006 6:23PM (CT)
NEW YORK (AP) - Carnival Corp., the world's biggest cruise operator, on Tuesday warned that its 2006 profit might be worse than expected because of rising fuel costs.
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Former RadioShack CEO to get cash payout
Feb 21 2006 6:22PM (CT)
DALLAS (AP) - Former RadioShack Corp. Chief Executive Dave Edmondson, who resigned Monday following questions about his resume's accuracy, will receive a cash payout worth at least $1.03 million, the company said Tuesday in a regulatory filing.
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Dial agrees to buy P&G deodorant brands
Feb 21 2006 6:20PM (CT)
BERLIN (AP) - The Dial Corp. has agreed to buy Right Guard and other deodorant brands from Procter & Gamble Co. for about $420 million.
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Bond prices slip
Feb 21 2006 5:54PM (CT)
NEW YORK (AP) - Treasurys fell slightly Tuesday after the release of a Federal Reserve document suggesting rate hikes are nearing their end.
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Starbucks to move workers to L.A. office
Feb 21 2006 5:51PM (CT)
SEATTLE (AP) - Starbucks Corp. plans to move some employees to an office in the Los Angeles area, in yet another sign of the company's growing interest in selling entertainment along with its lattes and Frappuccinos.
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Former CFO to return to Sun Microsystems
Feb 21 2006 5:48PM (CT)
SAN JOSE, Calif. (AP) - Sun Microsystems Inc. said former Chief Financial Officer Michael Lehman will return Wednesday to his old position, replacing current CFO Steve McGowan, who announced his plans to step down last October.
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I-Flow posts 4th-quarter loss of $5.26M
Feb 21 2006 5:33PM (CT)
NEW YORK (AP) - I-Flow Corp. posted a loss in the latest quarter, after hurricanes and a drug shortage slowed the medical device maker's sales.
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Carlsberg 4Q earnings slip 1 percent
Feb 21 2006 5:33PM (CT)
COPENHAGEN, Denmark (AP) - Danish brewer Carlsberg A/S said Tuesday its fourth-quarter earnings dropped 1 percent as higher costs for beer production and distribution watered down a 5.6 percent sales growth.
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EDS CFO to take similar position at eBay
Feb 21 2006 5:31PM (CT)
PLANO, Texas (AP) - Electronic Data Systems Corp. said Tuesday its chief financial officer will leave the computer-services company next month to take a similar position with online retailer eBay Inc.
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Skandia approves realignment of board
Feb 21 2006 5:29PM (CT)
STOCKHOLM, Sweden (AP) - Swedish insurer Skandia approved an almost complete realignment of its board Tuesday following its hostile takeover by Old Mutual PLC, hours after reporting a narrower fourth-quarter loss.
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Tuesday's commodities roundup
Feb 21 2006 5:26PM (CT)
NEW YORK (AP) - Precious metals rose Tuesday, lifted by speculative buying on the back of a rise in energy prices.
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Cadbury Schweppes posts 2005 profit gain
Feb 21 2006 5:25PM (CT)
LONDON (AP) - Cadbury Schweppes PLC reported a 45.7 percent jump in 2005 profit Wednesday, boosted by strong growth throughout its product range.
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Clear Channel posts 4Q profit of $461.6M
Feb 21 2006 5:23PM (CT)
SAN ANTONIO (AP) - Clear Channel Communications Inc., the nation's largest radio-station owner, said Tuesday it swung to a fourth-quarter profit, most of it generated by the company's spinoff of its live-entertainment subsidiary.
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TRW Automotive reports 4Q profit of $59M
Feb 21 2006 5:19PM (CT)
DETROIT (AP) - TRW Automotive Holdings Corp., one of the world's largest auto suppliers, posted a profit in the fourth quarter due to aggressive cost-cutting and growing demand for safety equipment, but predicted Tuesday that sales will weaken this year as U.S. automakers cut North American production.
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Sturm Ruger CEO to retire on February 28
Feb 21 2006 5:11PM (CT)
FAIRFIELD, Conn. (AP) - William Ruger Jr. will retire as chairman and chief executive officer of Sturm, Ruger and Co., marking the first time in the 67-year history of the firearms manufacturer that a Ruger has not led the company.
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H.J. Heinz to sell European seafood unit
Feb 21 2006 5:10PM (CT)
NEW YORK (AP) - Food company H.J. Heinz Co. said Tuesday it has agreed to sell its European seafood business to Lehman Brothers Merchant Banking for 425 million euros ($506.1 million).
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US Airways reports 4Q loss on fuel costs
Feb 21 2006 5:09PM (CT)
PHOENIX (AP) - US Airways Group Inc. blamed high fuel prices for its quarter-billion dollar loss in the fourth quarter. But the company's CEO said the task of merging US Airways and America West was going smoothly, and he predicted the nation's fifth-largest carrier would be profitable on an operating basis in 2006.
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Kraft: Health focus should aid turnaround
Feb 21 2006 5:09PM (CT)
CHICAGO (AP) - Kraft Foods Inc. is continuing to shift to healthier snacks and other items as it tries to overcome a long stretch of disappointing results, Chief Executive Officer Roger Deromedi told a conference of food industry analysts Tuesday.
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Domino's Pizza 4Q profit beats estimates
Feb 21 2006 5:02PM (CT)
ANN ARBOR, Mich. (AP) - Domino's Pizza Inc., the world's No. 2 pizza chain after Pizza Hut, on Tuesday reported higher fourth-quarter profit, aided by an asset sale in Mexico. The company also increased its dividend by 20 percent to 12 cents, and forecast long-term earnings growth between 11 percent and 13 percent.
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MeriStar Hospitality agrees to buyout
Feb 21 2006 4:53PM (CT)
COLLEGE PARK, Md. (AP) - Hotel real estate company MeriStar Hospitality Corp. said Tuesday it has agreed to a $2.6 billion buyout by an arm of The Blackstone Group, the latest in a string of large lodging buys by the private investment firm.
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Moody's reduces GM's debt rating further
Feb 21 2006 4:48PM (CT)
DETROIT (AP) - Moody's Investors Service lowered General Motors Corp.'s debt rating further into "junk" territory Tuesday, citing uncertainty the company can establish competitive wages and benefits without filing for bankruptcy protection.
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Home Depot 4Q profit beats expectations
Feb 21 2006 4:42PM (CT)
ATLANTA (AP) - The Home Depot Inc., the nation's largest home improvement store chain, reported Tuesday a more than 23 percent jump in fourth-quarter profit on strong sales and reiterated that it expects to see continued growth in 2006.
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E.On launches $34.72B all-cash Endesa bid
Feb 21 2006 4:31PM (CT)
MADRID, Spain (AP) - German utility E.On AG launched a 29.1 billion euro ($34.72 billion) all-cash bid for Endesa SA on Tuesday, topping a previous offer from Gas Natural by more than 30 percent and threatening to disrupt carefully laid plans for Spanish power-market consolidation.
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Oil prices rise amid attacks in Nigeria
Feb 21 2006 4:09PM (CT)
LONDON (AP) - Crude oil prices climbed Tuesday amid concerns about supply disruptions following militant attacks on oil pipelines in Nigeria.
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Delta defends management severance plan
Feb 21 2006 3:54PM (CT)
ATLANTA (AP) - Delta Air Lines Inc. defended its proposal for a severance plan for officers and directors, saying in a Tuesday bankruptcy court filing that "management attended to the rest of the company's employees first and itself last."
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Citgo to cooperate with oil program probe
Feb 21 2006 3:41PM (CT)
WASHINGTON (AP) - Citgo Petroleum Corp. says it plans to cooperate with the House Energy chairman's request for documents on Venezuela's program that provides heating oil to poor Americans.
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Advanced Analogic stock down 8.9 percent
Feb 21 2006 3:26PM (CT)
NEW YORK (AP) - Shares of Advanced Analogic Technologies Inc. slid Tuesday, following news that the semiconductor company was named in a patent complaint by Linear Technology Corp.
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Marvell buys Avago business for $240M
Feb 21 2006 3:24PM (CT)
SAN FRANCISCO (AP) - Computer-chip maker Marvell Technology Group Ltd. Tuesday said it is buying the printer-chip business of Avago Technologies for $240 million in cash, its third acquisition in the past six months.
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Sporting News weighs offers from suitors
Feb 21 2006 3:12PM (CT)
ST. LOUIS (AP) - The Sporting News is considering a number of offers from interested buyers, although the St. Louis-based company has not decided to offer itself for sale, said Rick Allen, president and chief executive officer.
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Putin signs aircraft corporation decree
Feb 21 2006 3:02PM (CT)
MOSCOW (AP) - Russian President Vladimir Putin has signed a decree to create an aircraft corporation, intending to pull the nations' struggling manufacturers under one roof, the Kremlin announced Tuesday.
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Christopher Cox returns to work at SEC
Feb 21 2006 3:01PM (CT)
WASHINGTON (AP) - Securities and Exchange Commission Chairman Christopher Cox returned to work Tuesday after several weeks recovering from surgery to remove a tumor, the agency said.
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GM to eliminate 3rd shift at Ohio plant
Feb 21 2006 2:52PM (CT)
DAYTON, Ohio (AP) - General Motors Corp. has settled on July 17 as the date it will eliminate the third shift at its truck-assembly plant in suburban Moraine.
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Wis. court denies status to Wal-Mart suit
Feb 21 2006 2:43PM (CT)
MADISON, Wis. (AP) - A state appeals court on Tuesday denied class-action status to a lawsuit brought by Wal-Mart Stores Inc. employees who claimed they were forced to work through breaks.
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E.On launches takeover bid for Endesa SA
Feb 21 2006 2:30PM (CT)
MADRID, Spain (AP) - German utility E.On AG launched a 29.1 billion euro ($34.72 billion) all-cash bid for Endesa SA on Tuesday, topping a previous offer from Gas Natural by more than 30 percent and threatening to disrupt carefully laid plans for Spanish power-market consolidation.
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Evergreen Solar shares rise on contract
Feb 21 2006 2:26PM (CT)
NEW YORK (AP) - Evergreen Solar Inc. stock rose Tuesday after the solar-power products maker announced a $100 million supply contract with a company in Germany.
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Supreme Court to hear MedImmune case
Feb 21 2006 2:20PM (CT)
GAITHERSBURG, Md. (AP) - The U.S. Supreme Court agreed Tuesday to hear a case on whether drug-maker MedImmune Inc. has the right to sue rival Genentech Inc. over a lucrative drug patent.
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Danish companies feel cartoon boycott pain
Feb 21 2006 1:51PM (CT)
KUWAIT CITY (AP) - It's been 22 years since the Kuwaiti Danish Dairy Co. broke with its partners in Denmark, took Caroline the cow off its packaging and began importing raw materials for ice cream and cheese from other countries.
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EU ministers mull plans to hike visa fees
Feb 21 2006 1:30PM (CT)
BRUSSELS, Belgium (AP) - European Union justice and interior ministers considered plans Tuesday to raise travel visa fees for non-EU nationals by about 70 percent to 60 euros ($71), saying the higher fee was needed to help pay for more secure travel documents.
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Eircom says it received takeover approach
Feb 21 2006 12:40PM (CT)
LONDON (AP) - Irish telecommunications company Eircom Group PLC said Tuesday it had received a preliminary takeover approach from Australian investment bank Babcock & Brown.
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British bankers may be extradited to U.S.
Feb 21 2006 12:30PM (CT)
LONDON (AP) - Three British bankers may be extradited to the United States to face Enron-related fraud charges, the High Court ruled Tuesday in a judgment marking the first test case of controversial laws introduced to speed up the transfer of suspected terrorists.
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Waffle House to start taking credit cards
Feb 21 2006 12:22PM (CT)
ATLANTA (AP) - Waffle House, which for more than half a century prided itself on serving the 'poor ol' cash customer,' now is looking to help diners who use credit cards.
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Japan's trade with China rises in 2005
Feb 21 2006 12:11PM (CT)
TOKYO (AP) - Japan's trade with China rose 12.7 percent in 2005 to $189.4 billion, marking the seventh straight year of growth, a government-affiliated trade organization said Tuesday.
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Gentex CFO plans to retire in Jan.
Feb 21 2006 11:40AM (CT)
WASHINGTON (AP) - Gentex Corp., which makes automotive mirrors, said chief financial officer Enoch Jen will retire in January.
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Wintegra files for IPO of up to $86.25M
Feb 21 2006 11:36AM (CT)
WASHINGTON (AP) - Wintegra Inc., a semiconductor maker, has filed for an initial public offering of up to $86.25 million in common stock.
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Nissan to unveil 4 light commercial models
Feb 21 2006 10:41AM (CT)
YOKOHAMA, Japan (AP) - Nissan Motor Co. said Tuesday that it will introduce four new light commercial models by the end of March 2008 to enhance its sales of buses, vans and small trucks.
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EU issues rosy 2006 growth forecasts
Feb 21 2006 9:44AM (CT)
BRUSSELS, Belgium (AP) - The European Commission issued an optimistic outlook for the EU economy Tuesday, saying it expects growth for the 25-nation bloc at 2.2 percent in 2006 and at 1.9 percent for the 12 nations that have the euro as their currency.
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Arcelor says it has acquired Dofasco stake
Feb 21 2006 9:00AM (CT)
LUXEMBOURG (AP) - Steelmaker Arcelor SA, which is resisting a hostile bid by Mittal Steel Co., says it has acquired 88.4 percent of Canadian steel company Dofasco Inc. and plans to extend its $4.87 billion takeover offer until March 7.
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Lockheed downplays U.S. effect on jets
Feb 21 2006 5:41AM (CT)
SINGAPORE (AP) - Lockheed Martin Corp., the biggest U.S. defense contractor, on Tuesday downplayed the potential effect of Washington's political influence on India's planned purchase of 126 new fighter jets.
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China to expand use of nuclear power
Feb 21 2006 5:39AM (CT)
SHANGHAI, China (AP) - China's reliance on nuclear energy is bound to grow, with new atomic power plants likely even in inland areas, industry experts said Tuesday, stressing Beijing's keenness to develop competitive technologies of its own.
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Asian air show begins in Singapore
Feb 21 2006 5:32AM (CT)
SINGAPORE (AP) - Boeing Co. snagged the first big deal at Asia's biggest air show Tuesday, an order for 10 jets from Indian budget carrier Spicejet, as aviation companies tried to coax regional customers to splurge on superjumbos and sophisticated jet technology.
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Ga. farmers preserve ham-and-egg contest
Feb 21 2006 5:26AM (CT)
VALDOSTA, Ga. (AP) - When Southern farmers faced backbreaking work from sunup to sundown, it was important to start the day with an energy-packed breakfast that often included ham and eggs.
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Australia bars Singapore Airlines route
Feb 21 2006 5:13AM (CT)
SYDNEY, Australia (AP) - The Australian government on Tuesday denied Singapore Airlines access to the lucrative route between Sydney and Los Angeles, despite years of lobbying from Singapore.
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