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Japanese stocks advance on car sales
Mar 1 2006 10:42PM (CT)
TOKYO (AP) - Japanese stocks bounced back Thursday morning on news of healthy auto sales in the U.S. for Japanese companies. The dollar edged higher against the yen and euro.
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Hovnanian's 1Q profits are flat
Mar 1 2006 10:36PM (CT)
TRENTON, N.J. (AP) - Profits for homebuilder Hovnanian Enterprises Inc. were flat in the first quarter amid other signs that the housing market is cooling.
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ABC rejects new KFC ad due to policy
Mar 1 2006 10:01PM (CT)
LOUISVILLE, Ky. (AP) - KFC's new television commercial that allows viewers to slowly replay the ad to find a secret message has been rejected by ABC because of the network's long-standing policy against subliminal advertising.
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Mexico officials: hotel won't be closed
Mar 1 2006 9:10PM (CT)
MEXICO CITY (AP) - Mexico City officials on Wednesday dropped threats to immediately close a major U.S.-owned hotel that had expelled Cuban guests, easing federal government concerns that a shutdown would hurt investment and cost hundreds of jobs.
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Boston Scientific delays Guidant deal close
Mar 1 2006 8:40PM (CT)
BOSTON (AP) - Boston Scientific Corp. said Wednesday its $27 billion acquisition of medical device maker Guidant Corp. will be delayed about a week, which would cost the company about $4.5 million per day in interest payments.
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Ex-Enron CFO Fastow to testify next week
Mar 1 2006 8:32PM (CT)
HOUSTON (AP) - Andrew Fastow, the former Enron Corp. chief financial officer who admitted he engineered schemes to hide company debt and inflate profits for years, will testify next week in the fraud and conspiracy trial of his former bosses, company founder Kenneth Lay and former Chief Executive Jeffrey Skilling.
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Saks posts 4Q loss, plans special dividend
Mar 1 2006 8:30PM (CT)
BIRMINGHAM, Ala. (AP) - Saks Inc. reported Wednesday a loss in its fiscal fourth quarter, reversing a year-earlier profit, weighed by charges related to the sale of some department stores and disappointing performance in its flagship luxury retail chain.
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January's high temps boost economy
Mar 1 2006 8:27PM (CT)
WASHINGTON (AP) - The warmest January in more than 100 years lured consumers out to the shopping malls to spend money at the fastest clip in six months, giving a strong boost to the economy as the new year began.
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Justice Dept. expects price-fix pleas
Mar 1 2006 8:23PM (CT)
SAN FRANCISCO (AP) - Four executives from Hynix Semiconductor Inc., a South Korean microchip maker, agreed Wednesday to plead guilty for their role in a scheme to fix the price of computer memory chips, the U.S. Justice Department said.
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Gateway agrees to pay $47 million to HP
Mar 1 2006 8:16PM (CT)
SAN JOSE, Calif. (AP) - Gateway Inc. agreed Wednesday to pay $47 million to Hewlett-Packard Co. to settle a series of patent lawsuits, and the rival computer makers entered into a seven-year cross-licensing deal.
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Honda stars in automaker sales
Mar 1 2006 8:12PM (CT)
DETROIT (AP) - Honda Motor Co. was a star in an otherwise ho-hum February for automakers, posting a 9 percent increase in U.S. sales over a year ago on the strength of its redesigned Civic sedan. Others reported more modest gains and declines on Wednesday, but said sales should pick up this spring as more new vehicles hit the market.
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OPEC president says oil priced fair
Mar 1 2006 8:07PM (CT)
WASHINGTON (AP) - While tight markets and global tensions have pushed up prices, the president of OPEC said Wednesday there's plenty of oil with the global surplus expected to grow at current production levels.
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Cancer drug OK'd as arthritis treatment
Mar 1 2006 8:00PM (CT)
BOSTON (AP) - The approval of the nation's top-selling cancer drug as a new treatment for rheumatoid arthritis could lead to further uses for Rituxan, which is being studied for other autoimmune disorders such as lupus.
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EPA proposes easing ethanol plant regs
Mar 1 2006 6:54PM (CT)
WASHINGTON (AP) - In an attempt to increase domestic production of alternative fuel sources, the Bush administration has proposed allowing ethanol plants to send more hazardous air pollutants into the air.
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Liberty Mutual posts $1 billion 2005 profit
Mar 1 2006 6:47PM (CT)
BOSTON (AP) - Liberty Mutual Group said Wednesday its 2005 profit fell nearly 18 percent to $1 billion as a record hurricane season saddled the mutually owned insurer with almost $1.5 billion in hurricane-related pretax losses.
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Philly Wi-Fi network to pay for computers
Mar 1 2006 6:43PM (CT)
PHILADELPHIA (AP) - Philadelphia on Wednesday announced details of its deal with EarthLink Inc. for the construction of a high-speed wireless network that will span the city, including provisions for EarthLink to pay for computers, training, and subsidize Internet access for low-income households.
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Nielsen won't join Arbitron
Mar 1 2006 6:40PM (CT)
NEW YORK (AP) - Arbitron Inc., the radio ratings company, said Wednesday that Nielsen Media Research would not join it in developing a new technology for measuring broadcast audiences.
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Delta, pilots headed to arbitration
Mar 1 2006 6:30PM (CT)
ATLANTA (AP) - No deal was reached by a Wednesday deadline between Delta Air Lines Inc. and its pilots over long-term pay and benefit cuts, sending the carrier's request to throw out its pilot contract to arbitration.
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Govt. eyes oil, gas royalty error
Mar 1 2006 6:05PM (CT)
WASHINGTON (AP) - An error has allowed oil and gas companies to avoid paying federal royalties on hundreds of offshore leases issued in the late 1990s, an Interior Department official said Wednesday.
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Bonds fall in technical trading
Mar 1 2006 5:55PM (CT)
NEW YORK (AP) - Bond prices fell Wednesday, as technical forces overshadowed strong U.S. economic data, and traders and investors adjusted their positions.
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Vivendi Universal posts dip in 4Q profit
Mar 1 2006 5:49PM (CT)
PARIS (AP) - Media and telecom company Vivendi Universal reported a drop in fourth-quarter and full-year earnings Wednesday because of one-time gains a year earlier, but saw solid performances from its Maroc Telecom subsidiary and at its video games and music divisions.
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ThyssenKrupp eyes options to buying Dofasco
Mar 1 2006 5:44PM (CT)
FRANKFURT, Germany (AP) - German steelmaker ThyssenKrupp AG is reconsidering its proposed acquisition of Canadian steel company Dofasco Inc. as part of a new corporate strategy, a board member said Wednesday.
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BASF to buy Degussa unit for about $2.6B
Mar 1 2006 5:42PM (CT)
BERLIN (AP) - Chemical maker BASF AG said Wednesday it will buy Degussa AG's construction chemicals business for about $2.6 billion in a deal aimed at expanding its reach in a fast-growing market segment.
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T-Online reports plunge in 4Q earnings
Mar 1 2006 5:39PM (CT)
BERLIN (AP) - T-Online International AG, Europe's largest Internet service provider, said Wednesday its net profit plunged 82 percent in the fourth quarter amid stiff competition and higher costs.
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Pilgrim's Pride withdraws guidance for 2Q
Mar 1 2006 5:37PM (CT)
PITTSBURG, Texas (AP) - Pilgrim's Pride Corp., the nation's second-largest poultry producer, said Wednesday it is withdrawing its previously issued guidance for the second quarter and fiscal 2006, citing depressed prices for some chicken exports amid worries about avian influenza.
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Ethicists blast fake blood study
Mar 1 2006 5:37PM (CT)
CHICAGO (AP) - Imagine being in a car crash, lying unconscious and bleeding in an ambulance. With no blood on board, paramedics give you an experimental substitute, but even at the hospital, you get fake blood for several hours before doctors try the real thing.
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Spain's Telefonica posts 4Q profit jump
Mar 1 2006 5:36PM (CT)
MADRID, Spain (AP) - Telefonica SA, the largest telecommunications company in Spain and Latin America, Wednesday posted a 52 percent jump in fourth-quarter net profit, boosted by several Latin American acquisitions and Internet-driven growth in Spain.
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Revlon 4Q profit up on Almay retooling
Mar 1 2006 5:35PM (CT)
NEW YORK (AP) - Cosmetics company Revlon Inc. said Wednesday its fourth-quarter profit increased 39 percent, helped by strong sales of its new Vital Radiance line and retooling of its Almay brand.
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Medco 4Q profit climbs on rising revenue
Mar 1 2006 5:31PM (CT)
TRENTON, N.J. (AP) - Medco Health Solutions Inc., one of the nation's biggest prescription benefit managers, on Wednesday said its fourth-quarter profit rose 33 percent on record revenues, a higher generic drug dispensing rate and new clients, including Medicare patients. Shares rose more than 6 percent to close out trading.
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Stocks Rebound, Dow Up 60 Points
Mar 1 2006 5:28PM (CT)
NEW YORK (AP) - Stocks rebounded Wednesday as reports of a surge in consumer spending and improving health in the manufacturing sector restored investors' confidence in the economy.
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Wednesday's Commodities roundup
Mar 1 2006 5:25PM (CT)
NEW YORK (AP) - Gold prices ended slightly higher Wednesday, after reaching its highest level in three weeks.
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Smithfield Foods' 3Q profit slides
Mar 1 2006 5:10PM (CT)
SMITHFIELD, Va. (AP) - Smithfield Foods Inc., the world's largest pork processor, said Wednesday its third-quarter profit fell 27 percent as pork prices declined and expenses increased.
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Cooper Tire posts 4Q loss on higher costs
Mar 1 2006 5:07PM (CT)
FINDLAY, Ohio (AP) - Tire manufacturer Cooper Tire & Rubber Co. said Wednesday it lost nearly $6.9 million in the fourth quarter as higher raw material and other costs offset rising sales.
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AK Steel starts using replacement workers
Mar 1 2006 5:01PM (CT)
MIDDLETOWN, Ohio (AP) - AK Steel Holding Corp. _ relying on hardball tactics used in other labor standoffs _ operated its Middletown Works plant Wednesday with salaried and replacement workers after locking out nearly 2,700 union employees.
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Berkshire Hathaway buys Business Wire
Mar 1 2006 4:51PM (CT)
OMAHA, Neb. (AP) - Berkshire Hathaway Inc., billionaire Warren Buffett's investment company, on Wednesday said it had completed the purchase of Business Wire, a privately held distributor of press releases.
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Waste Industries USA 4Q profit rises
Mar 1 2006 4:49PM (CT)
RALEIGH, N.C. (AP) - Garbage collection company Waste Industries USA Inc. said Wednesday its fourth-quarter profit rose 48 percent, aided by productivity gains and higher pricing.
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Washington Post 4Q profit edges lower
Mar 1 2006 4:42PM (CT)
WASHINGTON (AP) - Newspaper publisher Washington Post Co. on Wednesday reported a slight drop in fourth-quarter earnings, as gains at its education and cable businesses were offset by declines at other divisions.
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NWA flight attendants reach pay-cut deal
Mar 1 2006 4:37PM (CT)
MINNEAPOLIS (AP) - Negotiators for flight attendants reached a pay-cut deal with Northwest Airlines Corp. on Wednesday as the carrier continued talks with the pilots' union.
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Jury picked for second N.J. Vioxx trial
Mar 1 2006 4:17PM (CT)
ATLANTIC CITY, N.J. (AP) - A 10-person jury _ five of them casino-hotel workers _ was picked Wednesday to hear the cases of two men who blame Merck & Co. and its withdrawn arthritis drug Vioxx for their heart attacks.
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Starbucks to offer Rwandan-grown coffee
Mar 1 2006 3:52PM (CT)
SEATTLE (AP) - Starbucks Corp. announced Tuesday that it will soon start selling its first Rwandan-grown coffee in North American stores.
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SEC warns about 'paid autosurf' scams
Mar 1 2006 3:41PM (CT)
WASHINGTON (AP) - The Securities and Exchange Commission is warning the public about scams involving investment Web sites that promise to pay people for looking at online ads.
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Oil prices rise to nearly $62 a barrel
Mar 1 2006 3:31PM (CT)
WASHINGTON (AP) - Crude-oil futures rose Wednesday in spite of U.S. government data that showed growing supplies, and the president of OPEC said he sees no problem with prices above $60 a barrel so long as the global economy continues to grow.
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Mich. AG takes legal action vs. Wal-Mart
Mar 1 2006 3:23PM (CT)
LANSING, Mich. (AP) - An investigation by the state attorney general's office at five Wal-Mart stores found up to 80 percent of the merchandise didn't carry price tags, Attorney General Mike Cox said Wednesday.
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Spain's Gas Natural posts higher 4Q profit
Mar 1 2006 3:22PM (CT)
MADRID, Spain (AP) - Gas Natural SDG SA, Spain's biggest natural gas distributor, said Wednesday its profit rose almost 16 percent in the fourth quarter and 17 percent for the full year.
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Greenbrier up after Bear Stearns upgrade
Mar 1 2006 2:49PM (CT)
NEW YORK (AP) - Greenbrier Cos. stock rose Wednesday after Bear Stearns upgraded the railroad industry supplier on encouraging channel checks and better earnings visibility.
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Alliant Energy sells three power plants
Mar 1 2006 2:29PM (CT)
MADISON, Wis. (AP) - Alliant Energy Corp. said Wednesday it has completed the sale of three power plants in China to a company in Thailand.
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Bayer AG expects $1.9B net 2005 earnings
Mar 1 2006 2:04PM (CT)
BERLIN (AP) - Bayer AG, which makes health care products and specialty materials, said in an early release of some of its figures on Tuesday that net earnings for the year 2005 would more than double to 1.6 billion euros ($1.9 billion).
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FCC fines co. for sending unwanted faxes
Mar 1 2006 1:36PM (CT)
WASHINGTON (AP) - A California company that provides health care discount cards may be fined more than $750,000 for sending unsolicited faxes, the Federal Communications Commission said.
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Lamborghini CEO watching emerging markets
Mar 1 2006 1:34PM (CT)
GENEVA (AP) - Lamborghini, like most automakers, is keeping a watchful eye on emerging markets like China, India and Russia, mindful of the millions that could be made as affluent consumers look to buy upscale.
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Russian panel to rule on pipeline's impact
Mar 1 2006 1:27PM (CT)
MOSCOW (AP) - A Russian state-mandated expert panel will rule on the environmental impact of a planned oil pipeline through Siberia amid allegations the government packed the commission with supporters of a route that comes close to the world's largest freshwater lake.
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German industrial union stages walkouts
Mar 1 2006 1:20PM (CT)
BERLIN (AP) - Workers at automaker DaimlerChrysler AG and other firms staged brief warning walkouts Wednesday as Germany's biggest industrial union stepped up the pressure in ongoing wage talks.
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Shortfalls expose Italy energy weakness
Mar 1 2006 1:17PM (CT)
ROME (AP) - When Russia's gas exports to Europe began to falter this year, Italy's dominant energy supplier, Eni SpA, was one of the victims, reporting shortages in daily deliveries. But then it became a target itself, accused of abusing its dominant market position and putting Italy's energy security at risk.
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Judge gives tentative OK to Ford-UAW deal
Mar 1 2006 12:39PM (CT)
DETROIT (AP) - A federal judge has given tentative approval to the United Auto Workers' health-care concessions agreement with Ford Motor Co.
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BellSouth details directors' connections
Mar 1 2006 12:18PM (CT)
ATLANTA (AP) - Three BellSouth Corp. directors have ties to businesses that the company paid a total of more than $1.3 million in fees last year, according to a regulatory filing issued Wednesday.
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GM says company can stem losses in Europe
Mar 1 2006 11:55AM (CT)
GENEVA (AP) - General Motors Corp. hopes to stem its losses in Europe this year after several years of poor results, and plans no changes to its brand lineup, the chief executive of the world's biggest automaker said Wednesday.
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Manufacturing expands faster in Feb.
Mar 1 2006 11:37AM (CT)
NEW YORK (AP) - Manufacturing expanded at a faster rate in February than in January, a private research group said Wednesday, signaling the U.S. economy is on a firm footing.
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Kroszner sworn in as newest Fed governor
Mar 1 2006 11:09AM (CT)
WASHINGTON (AP) - Randall Kroszner was sworn in Wednesday as the newest governor of the Federal Reserve, where he'll have a voice in setting interest rates and financial policy in the United States.
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Euro-zone inflation down from January rate
Mar 1 2006 11:07AM (CT)
BRUSSELS, Belgium (AP) - Inflation in the 12 nations using the euro was 2.3 percent in February compared with a year ago, down from January's 2.4 percent, according to a preliminary estimate Wednesday from the EU statistical agency Eurostat.
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EU, U.S. end dispute on contract bidding
Mar 1 2006 11:03AM (CT)
BRUSSELS, Belgium (AP) - The European Union and the United States on Wednesday lifted rules forbidding companies on one side of the Atlantic from bidding for government contracts across the ocean, ending a decade-old trade dispute.
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German union, state reach agreement
Mar 1 2006 11:01AM (CT)
BERLIN (AP) - Labor negotiators in the Hamburg region have reached an agreement to resolve a dispute over public employees' working hours that has triggered weeks of strikes, German union and state officials said Wednesday.
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EU tries to cool tempers on GDF-Suez plan
Mar 1 2006 10:03AM (CT)
BRUSSELS, Belgium (AP) - European Commission President Jose Manuel Barroso tried to cool Italian and French tempers Wednesday over the hastily arranged Gaz de France deal for the French utility Suez, but warned that protectionist policies will do more economic harm than good.
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Chief executive of Japan Airlines to quit
Mar 1 2006 9:05AM (CT)
TOKYO (AP) - The chief executive of troubled Japan Airlines Corp. will step down, the nation's biggest carrier said Wednesday, amid growing financial woes and a spate of embarrassing safety lapses.
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Paid college consultants help kids get in
Mar 1 2006 8:19AM (CT)
WASHINGTON (AP) - As high school seniors across the country wait anxiously for the responses to their college applications, some can take comfort in knowing they sent out the best money can buy.
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Paint makers won't face punitive damages
Mar 1 2006 8:09AM (CT)
PROVIDENCE, R.I. (AP) - Three paint manufacturers found liable for creating a public nuisance in Rhode Island won't face punitive damages because they stopped making lead pigment years ago, a judge ruled.
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Growth concerns push down Google stock
Mar 1 2006 6:41AM (CT)
SAN FRANCISCO (AP) - Google Inc.'s shares plummeted by as much as 13 percent Tuesday after the company's chief financial officer raised the specter of slower earnings growth _ a remark that soured recent investor enthusiasm that had been building for the Internet's leading search engine.
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Bank of China files IPO application
Mar 1 2006 6:32AM (CT)
HONG KONG (AP) - Bank of China, the mainland's No. 2 lender, has filed an application this week with Hong Kong's stock exchange for its initial public stock offering, a person familiar with the deal said Wednesday.
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Poultry grower lobby Oklahoma lawmakers
Mar 1 2006 6:18AM (CT)
OKLAHOMA CITY (AP) - Embattled poultry growers and producers descended on the state Capitol to lobby lawmakers and urge an end to a federal lawsuit that accuses them of polluting watersheds with chicken litter.
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U.S.: 'Worst is behind' for Japan economy
Mar 1 2006 5:55AM (CT)
TOKYO (AP) - The "worst is behind" for Japan's once moribund economy but neighboring China must do more to balance its breakneck growth rate and allow its currency to be more flexible, U.S. Undersecretary of Treasury Tim Adams said Wednesday.
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AK Steel locks out union workers
Mar 1 2006 2:25AM (CT)
MIDDLETOWN, Ohio (AP) - AK Steel locked out nearly 2,700 hourly workers after their contract expired without a new agreement early Wednesday, and will use temporary workers to continue filling orders, a company spokesman said.
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ECB likely to increase interest rate
Mar 1 2006 1:44AM (CT)
FRANKFURT, Germany (AP) - The European Central Bank will likely raise interest rates amid expectations the continent's economy will strengthen, with economists alert for clues about how far the bank intends to go in coming months.
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Australian economy grew 2.7 percent in 4Q
Mar 1 2006 1:20AM (CT)
SYDNEY, Australia (AP) - Australia's economy grew 2.7 percent in the fourth quarter from a year ago, thanks to gains in business investment and consumer spending, the Australian Bureau of Statistics reported Wednesday.
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