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AK Steel ordered to pay $46.2M in suit
Mar 2 2006 11:46PM (CT)
CINCINNATI (AP) - A federal judge has ordered AK Steel Corp. to pay at least $46.2 million to 1,250 former employees in a class action lawsuit over pension benefits.
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Fidelity: 2005 profit grew 20 percent
Mar 2 2006 11:46PM (CT)
BOSTON (AP) - Fidelity Investments said Thursday its 2005 profit grew 20 percent to $1.3 billion, even though the nation's largest mutual fund manager fell far behind rivals in attracting new mutual fund investors.
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Northwest, pilots continue negotiating
Mar 2 2006 11:41PM (CT)
MINNEAPOLIS (AP) - The threat of mutually assured destruction kept Northwest Airlines and its pilots at the bargaining table on Thursday.
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Wendy's to consider selling Baja Fresh
Mar 2 2006 11:02PM (CT)
COLUMBUS, Ohio (AP) - Bowing to investor wishes, Wendy's International Inc. on Thursday said it would consider selling its Baja Fresh chain and accelerate the separation of its coffee-and-doughnut brand in a bid to counter slumping sales.
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Japanese stocks drop on CPI data
Mar 2 2006 10:59PM (CT)
TOKYO (AP) - Japanese stocks fell Friday morning after consumer price data suggested that the central bank may soon end its ultra-loose monetary policy. The dollar rose against the yen.
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Japanese CPI rises for 3rd straight month
Mar 2 2006 10:51PM (CT)
TOKYO (AP) - Japanese consumer prices rose for the third straight month in January, the government said Friday, raising chances that the Bank of Japan will move soon to tighten its ultra-loose monetary policy.
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Overstock.com chairman may step down
Mar 2 2006 9:52PM (CT)
SALT LAKE CITY (AP) - The chairman of Internet retailer Overstock.com told a newspaper Thursday that he may step down in a disagreement with his son's "jihad" against market analysts and financial writers.
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Google execs paint bright picture
Mar 2 2006 9:01PM (CT)
SAN FRANCISCO (AP) - Google Inc. provided stock market analysts with more color about its secretive operations Thursday, painting a bright picture that appeared aimed at defusing growth concerns raised by the search engine leader's chief financial officer earlier this week.
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Former Enron executive rocks court
Mar 2 2006 8:58PM (CT)
HOUSTON (AP) - Former Enron Corp. Chief Executive Jeffrey Skilling told other top executives "they're on to us," when a small analyst firm produced a research note critical of the company's sales to partnerships run by then-Chief Financial Officer Andrew Fastow, a former top executive testified in a bombshell revelation Thursday.
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Mo. proposes tax break for some vehicles
Mar 2 2006 8:41PM (CT)
JEFFERSON CITY, Mo. (AP) - After you kick the tires and sniff the new car smell, Missouri lawmakers want you stop and see where the vehicle was built.
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China official: 'No timetable' on controls
Mar 2 2006 8:23PM (CT)
BEIJING (AP) - China has "no timetable" for further easing of its foreign-exchange controls, a state news agency on Friday quoted a senior official as saying, possibly setting up a new conflict with Washington over the value of the Chinese currency.
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Judge rules against Sovereign directors
Mar 2 2006 7:46PM (CT)
HARRISBURG, Pa. (AP) - A federal judge ruled Thursday that directors of Sovereign Bancorp Inc. may be removed without cause, a major win for the company's largest investor in a continuing legal fight.
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Leading GOP lawmaker fights ports deal
Mar 2 2006 7:39PM (CT)
WASHINGTON (AP) - One of the most prominent House Republicans on military issues said Thursday he would try to scuttle a Dubai-based company's effort to manage U.S. ports as lawmakers' complaints about the Bush administration's handling of the issue continued to spread.
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Chevron gets Canadian oil leases
Mar 2 2006 7:19PM (CT)
SAN FRANCISCO (AP) - Chevron Corp., the second largest U.S. oil company, said Thursday it acquired five oil leases covering 180,000 acres for an undisclosed price in northern Alberta, Canada.
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Blockbuster takes dig at Netflix
Mar 2 2006 6:55PM (CT)
DALLAS (AP) - Movie-rental giant Blockbuster Inc., jumping on a recent admission by online rival Netflix Inc., is boasting that it doesn't discriminate against frequent renters when it runs short of popular titles.
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Gulf Coast banks urged to be generous
Mar 2 2006 6:49PM (CT)
NEW ORLEANS (AP) - The Bush administration's Gulf Coast recovery chief urged bankers Thursday to be "risky" and to open their accounts to help jump-start rebuilding of the hurricane-ravaged region.
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SEC setting new media subpoenas code
Mar 2 2006 6:37PM (CT)
WASHINGTON (AP) - The Securities and Exchange Commission will adopt a new policy on subpoenaing journalists, SEC Chairman Christopher Cox said Thursday in a move to resolve a controversy over the agency's recent demands for reporters' records.
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Thursday's Commodities Roundup
Mar 2 2006 6:34PM (CT)
NEW YORK (AP) - Silver futures reached a fresh 19-year high Thursday on anticipation over possible approval of a silver exchange-traded fund, and on news of a strike at a Mexico mine.
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Thursday's Commodities Roundup
Mar 2 2006 6:22PM (CT)
NEW YORK (AP) - Silver futures reached a fresh 19-year high Thursday on anticipation over possible approval of a silver exchange-traded fund, and on news of a strike at a Mexico mine.
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Ross buys business from Collins & Aikman
Mar 2 2006 6:21PM (CT)
DETROIT (AP) - International Automotive Components Group, a joint venture headed by billionaire financier Wilbur Ross Jr., said Thursday it has acquired a portion of auto supplier Collins & Aikman Corp.'s European business for an undisclosed amount.
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S. American gas line in question
Mar 2 2006 6:20PM (CT)
WASHINGTON (AP) - A proposed pipeline that would provide Venezuelan natural gas to South America may never materialize because of financing and other problems, an Energy Department official said Thursday.
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Clorox CEO suffers apparent heart attack
Mar 2 2006 6:08PM (CT)
OAKLAND, Calif. (AP) - Gerald E. Johnston, chairman and chief executive of Clorox Co., has suffered a heart attack, the company said Thursday.
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Money funds fell in latest week
Mar 2 2006 6:05PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds fell by $2.02 billion in the latest week to $852.41 billion, the Investment Company Institute said Thursday.
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Japan steelmakers see record profit, sales
Mar 2 2006 5:51PM (CT)
TOKYO (AP) - Japan's top four steelmakers on Thursday forecast record sales and profit for the fiscal year through March, and one raised its planned dividends on strong sales of high-grade steel products.
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17 Sinclair stations join Fox mini-network
Mar 2 2006 5:34PM (CT)
NEW YORK (AP) - Seventeen TV stations owned by Sinclair Broadcast Group Inc. will carry programming from a new mini-network being launched by News Corp.'s Fox television unit this fall, the companies announced Thursday.
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Dial sells Armour Foods business for $183M
Mar 2 2006 5:32PM (CT)
BERLIN (AP) - Germany's Henkel KGaA said Thursday that its Dial Corp. unit has sold its Armour Foods business, which produces canned meat and prepared meals, for $183 million to Pinnacle Foods Group Inc., whose brands include Lender's bagels, Swanson frozen dinners and Log Cabin syrup.
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Adidas posts 4Q loss on Reebok acquisition
Mar 2 2006 5:31PM (CT)
FRANKFURT, Germany (AP) - Adidas-Salomon AG swung to a loss in the fourth quarter because of costs related to its takeover of athletic-shoe maker Reebok and expenses ahead of this summer's soccer World Cup, the athletic apparel maker said Thursday.
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Boeing directors to face annual election
Mar 2 2006 5:29PM (CT)
CHICAGO (AP) - Boeing Co. said in a regulatory filing Thursday that all members of its board of directors must be elected annually instead of every three years.
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Anheuser-Busch corners Grolsch imports
Mar 2 2006 5:23PM (CT)
ST. LOUIS (AP) - Anheuser-Busch Cos. Inc., the biggest U.S. brewer, announced Thursday it will become the sole U.S. importer of Grolsch beer nine months earlier than expected.
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Univision profits down in fourth quarter
Mar 2 2006 5:22PM (CT)
LOS ANGELES (AP) - Spanish-language media conglomerate Univision Communications Inc. said Thursday that fourth-quarter profit declined as a result of charges from its cost reduction plan, payments to programming supplier Grupo Televisa and the decline in value of its investment in Entravision Communications Corp.
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Arbitron shares fall after Nielsen move
Mar 2 2006 5:17PM (CT)
NEW YORK (AP) - Shares of Arbitron Inc. tumbled Thursday, a day after the radio ratings company said Nielsen Media Research would not join it in a joint venture to use a new technology for measuring broadcast audiences.
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Ford predicts $1 billion restructure tab
Mar 2 2006 5:15PM (CT)
DETROIT (AP) - Ford Motor Co. expects to spend $1 billion before taxes this year on restructuring in North America and Europe, according to the company's annual report.
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Kraft OKs $2B buy back plan
Mar 2 2006 5:06PM (CT)
NORTHFIELD, Ill. (AP) - Kraft Foods Inc., the nation's largest food company, said Thursday its board of directors has authorized a plan to buy back as much as $2 billion of its stock.
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Costco shares rise despite profit drop
Mar 2 2006 5:05PM (CT)
SEATTLE (AP) - Costco Wholesale Corp., the nation's largest wholesale-club operator, said Thursday that its fiscal second-quarter profit slipped 3 percent, but the results still beat Wall Street expectations, nudging its shares to its highest level in five years.
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Vote set for Boston Scientific-Guidant deal
Mar 2 2006 5:04PM (CT)
INDIANAPOLIS (AP) - Shareholders from both companies will decide March 31 whether to approve Boston Scientific Corp.'s $27.2 billion acquisition of medical-device maker Guidant Corp.
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GM, Toyota extend research deal
Mar 2 2006 4:56PM (CT)
DETROIT (AP) - General Motors Corp. and Toyota Motor Co., the world's two largest automakers, said Thursday they're ending their work together on hydrogen fuel cells but will continue to collaborate on safety and energy research for the next two years.
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Wal-Mart Stores raises annual dividend
Mar 2 2006 4:55PM (CT)
BENTONVILLE, Ark. (AP) - Wal-Mart Stores Inc., the world's largest retailer, said Thursday it would raise its annual dividend by 11.7 percent to 67 cents per share, an increase that will give shareholders $2.7 billion in dividend income in the current fiscal year.
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Tenet Healthcare 4Q loss narrows
Mar 2 2006 4:52PM (CT)
DALLAS (AP) - Hospital operator Tenet Healthcare Corp. posted a narrower fourth-quarter loss, but the results were worse than Wall Street expected, and the company faces a growing problem with unpaid bills by uninsured patients and the corrosive effects of government investigations into its business practices.
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Venezuela: Citgo to take steps to shun SEC
Mar 2 2006 4:48PM (CT)
CARACAS, Venezuela (AP) - Venezuela will take steps to stop its U.S. subsidiary Citgo Petroleum Corp. from having to file public financial reports with the U.S. Securities and Exchange Commission, the oil minister said Thursday.
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Deutsche Telekom's 4Q net profit down
Mar 2 2006 4:46PM (CT)
FRANKFURT, Germany (AP) - Deutsche Telekom AG, Europe's largest telecom and parent of the T-Mobile cell-phone brand in the U.S., said Thursday its fourth-quarter profit fell 43 percent due to a charge on its British wireless operations and lower sales of traditional telephone services.
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American begins flights from Love Field
Mar 2 2006 4:25PM (CT)
DALLAS (AP) - American Airlines on Thursday began flying from Love Field for the first time in five years, raising the stakes in a showdown with rival Southwest Airlines Co., which is based at the Dallas airport.
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Chevron buys oil sands leases in Canada
Mar 2 2006 4:24PM (CT)
NEW YORK (AP) - Chevron Corp. said Thursday it plans to develop a giant oil sands project in northern Canada, the latest in a string of investments that is quickly turning the region around Ft. McMurray, Alberta, into one of the world's fastest growing oil-producing regions.
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Dana's missed payments prompt worries
Mar 2 2006 4:23PM (CT)
TOLEDO, Ohio (AP) - Dana Corp.'s inability to make $21 million in interest payments this week prompted investors and analysts on Thursday to question whether the struggling auto parts maker is moving closer to seeking bankruptcy protection. The company's stock fell by almost half.
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Judge rules Amazon breached contract
Mar 2 2006 4:00PM (CT)
NEWARK, N.J. (AP) - Amazon.com Inc. breached a deal with Toys R Us that was supposed to give the toy seller exclusive rights to supply some products on the Seattle-based Web site, a New Jersey judge ruled Thursday as she allowed the companies to sever their online partnership.
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Hallmark reports flat sales for the year
Mar 2 2006 3:52PM (CT)
KANSAS CITY, Mo. (AP) - Hallmark Cards Inc. said Thursday its 2005 sales stayed flat at $4.2 billion when adjusted for two subsidiaries it has sold.
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British court OKs Dubai company takeover
Mar 2 2006 3:32PM (CT)
LONDON (AP) - Britain's High Court approved on Thursday the proposed takeover of British shipping icon P&O by a Dubai state-owned port operator, a deal that has caused an uproar in the United States among lawmakers worried about port security.
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Retail sales slow down in February
Mar 2 2006 3:24PM (CT)
NEW YORK (AP) - Retail sales growth slowed last month as the reappearance of winter weather after a warm January chilled consumers' interest in spring apparel.
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Oil prices rise to almost $63 a barrel
Mar 2 2006 2:58PM (CT)
LONDON (AP) - Crude futures rose Thursday as traders focused on output disruptions in Nigeria and other geopolitical threats to supplies.
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Stock prices fall on retail sales worries
Mar 2 2006 2:48PM (CT)
NEW YORK (AP) - Stocks fell moderately Thursday as disappointing retail sales reports prompted fresh concerns about a slowdown in the economy as well as a dropoff in corporate revenues.
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Russian minister warns of stock bubble
Mar 2 2006 2:14PM (CT)
MOSCOW (AP) - Russia's economic minister on Thursday warned the government that recent record growth in the local stock market threatens to raise equity prices to unfounded levels, news agencies reported.
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Enel to buy stake in RusEneregoSbyt
Mar 2 2006 1:42PM (CT)
ROME (AP) - Italian power company Enel SpA said Thursday it will pay $105 million for a 50 percent stake in Russian energy trading company RusEneregoSbyt, as it bolsters its presence in the Russian electricity market.
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ECB ups key interest rate to 2.5 percent
Mar 2 2006 12:59PM (CT)
FRANKFURT, Germany (AP) - The European Central Bank raised its key interest rate to 2.5 percent Thursday, saying it expected faster economic growth in the euro zone but had not committed itself to a string of future rate increases.
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Swiss Re's shares end lower on profit drop
Mar 2 2006 12:52PM (CT)
ZURICH, Switzerland (AP) - Swiss Reinsurance Co., the world's second-largest reinsurance company, said Thursday its net profit for 2005 dropped 41 percent because of record claims from Hurricane Katrina and other disasters.
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30-year mortgage rates fall for 2nd week
Mar 2 2006 12:46PM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages edged down slightly this week, the second consecutive decline, according to a nationwide survey of rates.
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Many Wal-Mart workers in Pa. on Medicaid
Mar 2 2006 12:44PM (CT)
HARRISBURG, Pa. (AP) - Almost one in six Wal-Mart employees in Pennsylvania was enrolled in the state's health care program for the poor and disabled last year, a newspaper reported Thursday.
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Quanta Capital shares fall
Mar 2 2006 12:43PM (CT)
NEW YORK (AP) - Insurance company Quanta Capital Holdings Ltd. stock plummeted Thursday as a wider-than-expected fourth-quarter loss led to a downgrade from A.M. Best Co. and the company hiring a financial adviser.
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French court: GE unit must translate docs
Mar 2 2006 12:27PM (CT)
PARIS (AP) - A French appeals court said Thursday that a subsidiary of U.S. industrial products, financial services and media conglomerate General Electric Co. must provide its workers with French translations of internal company documents _ after employees complained about having to use English at work.
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Bond prices down
Mar 2 2006 12:21PM (CT)
NEW YORK (AP) - Treasury bond prices fell by midday Thursday.
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Court OKs Calpine employee severance plan
Mar 2 2006 12:15PM (CT)
WASHINGTON (AP) - A federal bankruptcy judge has signed off on Calpine Corp.'s severance plan, which the energy trader hopes will spur morale among its 3,000 workers and stave off an employee exodus while it reorganizes under Chapter 11.
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Web site operator LoopNet plans IPO
Mar 2 2006 11:27AM (CT)
WASHINGTON (AP) - LoopNet Inc., which operates a Web site listing commercial real-estate properties for sale or lease, plans to go public in an initial offering of stock worth as much as $86.2 million.
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Northstar Neuroscience plans IPO
Mar 2 2006 11:26AM (CT)
WASHINGTON (AP) - Northstar Neuroscience Inc., which makes an implantable stimulation system that aids the recovery of stroke patients, said it plans to go public in an initial offering of stock valued at up to $85 million.
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World Bank urges fight on malnutrition
Mar 2 2006 10:19AM (CT)
WASHINGTON (AP) - The World Bank recommends that poor governments focus their limited resources on combating malnutrition among pregnant women and children younger than 2 because that is when irreparable damage happens.
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Citigroup chair, chief executive get raises
Mar 2 2006 10:12AM (CT)
NEW YORK (AP) - Citigroup Inc., the nation's largest financial institution, paid its two top executives more than $20 million each in 2005, according to a filing with the Securities and Exchange Commission.
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LVMH profit rose 21 percent in 2005
Mar 2 2006 9:50AM (CT)
PARIS (AP) - Luxury goods company LVMH SA said Thursday that its net profit jumped 21 percent last year thanks to a strong second half in its core wine and spirits and leather products divisions in the United States and Asia.
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Second UAE company confirms U.S. probe
Mar 2 2006 8:42AM (CT)
LONDON (AP) - A second United Arab Emirates company, Dubai International Capital LLC, confirmed Thursday that the U.S. has launched a national security investigation into one of its acquisitions.
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India, U.S. agree on economic cooperation
Mar 2 2006 6:25AM (CT)
NEW DELHI (AP) - India and the United States agreed Thursday on a sweeping agenda for economic and scientific cooperation, one day after the two countries set a three-year target to double their trade.
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Japanese lawmakers approve $690B budget
Mar 2 2006 6:16AM (CT)
TOKYO (AP) - Japan's powerful lower house of parliament on Thursday approved a nearly 80 trillion yen ($690 billion) draft budget for fiscal 2006 that would slash spending to reflect government efforts at fiscal reform.
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Some Korail workers return to work
Mar 2 2006 6:05AM (CT)
SEOUL, South Korea (AP) - Korea Railroad Corp. said Thursday that some striking workers were returning to duty following a warning they faced possible dismissal, raising hopes train service may increasingly normalize.
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Court fines three China Aviation execs
Mar 2 2006 5:56AM (CT)
SINGAPORE (AP) - Three Beijing-based directors of China Aviation Oil (Singapore) Ltd. were fined by a Singapore court Thursday for offenses related to the jet fuel trader's $550 million derivatives trading scandal in 2004.
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Japan Airlines seeks return to profit
Mar 2 2006 5:42AM (CT)
TOKYO (AP) - Money-losing Japan Airlines earmarked 62 billion yen ($535 million) Thursday to beef up safety in an effort to win back customer trust after a series of flight problems.
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Israeli software company faces U.S. probe
Mar 2 2006 5:28AM (CT)
WASHINGTON (AP) - The same Bush administration review panel that approved a ports deal involving the United Arab Emirates has notified a leading Israeli software company that it faces a rare, full-blown investigation over its plans to buy a smaller rival.
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Lawmakers push limits on crop modification
Mar 2 2006 5:27AM (CT)
HONOLULU (AP) - State senators have advanced two bills putting limits on the genetic modification of taro and coffee, crops that are key to Hawaii's identity.
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Monsanto, Pioneer battle for seed market
Mar 2 2006 4:28AM (CT)
ST. LOUIS (AP) - The battle of the biotech giants heated up this week, with Monsanto Co. and Pioneer Hi-Bred moving to strengthen their hold in the multibillion-dollar market for genetically engineered seeds.
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Hynix calls plea deal a 'personal issue'
Mar 2 2006 4:22AM (CT)
SEOUL, South Korea (AP) - Hynix Semiconductor Inc. on Thursday distanced itself from a price-fixing scandal in the United States, saying a decision by its executives there to plead guilty to inflating chip prices is a "personal issue."
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Govt. eyes error that cost U.S. billions
Mar 2 2006 4:09AM (CT)
WASHINGTON (AP) - How it happened or who's responsible is a mystery eight years after the fact. But what may have been a simple error _ or perhaps something more ominous _ has given a multimillion-dollar windfall to a group of oil and gas companies and could cost the government billions of dollars more in the years to come.
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Advertising fails to spur Feb. auto sales
Mar 2 2006 2:42AM (CT)
DETROIT (AP) - Auto sales rose only slightly in February despite heavy Olympic and Super Bowl advertising and some new incentives and increased sales to corporate fleets. Still, automakers say they're optimistic sales will pick up once new vehicles hit dealerships this spring.
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Gateway agrees to pay $47 million to HP
Mar 2 2006 2:22AM (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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Young Shanghai workers change jobs often
Mar 2 2006 2:02AM (CT)
SHANGHAI, China (AP) - Shanghai residents under age 30 changed jobs every 17.5 months on average last year, the city said Thursday, raising concerns that frequent job-hoppers are failing to develop needed career skills.
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Casino workers to decide next Vioxx case
Mar 2 2006 1:49AM (CT)
ATLANTIC CITY, N.J. (AP) - In this casino town, it'll be casino workers who help decide whether drug manufacturer Merck & Co. is to blame for heart attacks suffered by two New Jersey men who were taking Vioxx.
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Judge orders destruction of 4.3M eggs
Mar 2 2006 12:09AM (CT)
COLUMBUS, Ohio (AP) - A judge ordered the destruction of 4.3 million eggs that state agriculture officials deemed unfit to eat because they were stored at room temperature at one of the nation's largest egg farms.
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