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Pfizer sues P&G over Crest mouthwash ad
Mar 3 2006 11:57PM (CT)
NEW YORK (AP) - Pfizer Inc. sued Procter & Gamble Friday, saying the company falsely advertised its Crest Pro Health mouthwash to gain an unfair advantage over its Listerine mouthwash.
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Bush concedes outsourcing hurts workers
Mar 3 2006 9:33PM (CT)
WASHINGTON (AP) - You lost your job. It's probably one of the most dreaded things you'll ever hear from your boss. Then you find out that your white-collar position moved to the other side of the globe _ to India. President Bush says he feels your pain and that education _ not trade protectionism _ is the answer to deal with the increasing globalized world in which we live and work.
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Dana Corp. files for bankruptcy protection
Mar 3 2006 8:06PM (CT)
TOLEDO, Ohio (AP) - Auto parts maker Dana Corp. filed for bankruptcy protection for its U.S. operations on Friday, joining a growing list of suppliers forced to make major restructuring moves because of the slumping U.S. auto industry.
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Stars to ride green cars to red carpet
Mar 3 2006 7:48PM (CT)
DETROIT (AP) - Oscar nominees Joaquin Phoenix, Jake Gyllenhaal and Frances McDormand are among those expected to step out of green vehicles and onto the red carpet at the Academy Awards ceremony Sunday.
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Buffett's letter eagerly awaited
Mar 3 2006 7:38PM (CT)
OMAHA, Neb. (AP) - The annual meeting of Berkshire Hathaway shareholders in Omaha has been called a carnival in celebration of capitalism.
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Northwest pilots reach pay-cut deal
Mar 3 2006 7:32PM (CT)
MINNEAPOLIS (AP) - Pilots reached a tentative pay-cut deal with Northwest Airlines Corp. Friday, a major step toward ending a showdown that put the bankrupt airline's future in doubt.
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FDA says too many drug studies delayed
Mar 3 2006 7:26PM (CT)
WASHINGTON (AP) - Drug companies sometimes are allowed to hurry medicines to market in exchange for a promise to continue studying their safety and effectiveness. Those studies haven't begun in two-thirds of cases, the government reported Friday.
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Dow, Nasdaq show single-digit declines
Mar 3 2006 7:17PM (CT)
NEW YORK (AP) - Stocks fluctuated before closing slightly lower Friday after a Federal Reserve governor's upbeat comments on inflation helped ease worries about a bleak forecast from Intel Corp. The major indexes finished mixed for the week.
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Adeza Biomedical shares fall
Mar 3 2006 6:55PM (CT)
NEW YORK (AP) - Adeza Biomedical Corp. stock fell Friday after the company's 2006 outlook missed analysts' estimates, raising questions about the success of its leading drug for women with high-risk preterm birth symptoms.
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CBRE Realty Finance plans IPO
Mar 3 2006 6:53PM (CT)
WASHINGTON (AP) - CBRE Realty Finance Inc. said Friday it plans an initial public offering of stock worth as much as $200 million.
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Former FDA head's stock sale reported
Mar 3 2006 6:51PM (CT)
WASHINGTON (AP) - A month before he abruptly resigned as Food and Drug Administration commissioner, Lester Crawford sold more than $50,000 in shares in a company that makes medical devices, according to financial disclosure forms obtained Friday by The Associated Press.
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Dubai firm OKs broader security review
Mar 3 2006 6:25PM (CT)
WASHINGTON (AP) - A United Arab Emirates company formally submitted Friday to a highly unusual, broader examination by the Bush administration of potential security risks over its plans to take over significant operations at major U.S. ports.
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Bonds fall; bearish mood prevails
Mar 3 2006 6:09PM (CT)
NEW YORK (AP) - U.S. Treasury prices settled near their lows Friday, amid little sign yet of any let-up from this week's sharply bearish sentiment.
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Audi fire reports renew inquiry
Mar 3 2006 6:08PM (CT)
WASHINGTON (AP) - The government said Friday it was re-examining a 2004 recall of Audi sedans for wiring problems after it received six reports of fires starting in the driver's side dashboard.
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Oil prices rise on supply fears
Mar 3 2006 6:04PM (CT)
NEW YORK (AP) - Oil prices rose Friday on lingering fears of supply disruptions out of Nigeria and Iran.
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AK Steel union postpones negotiations
Mar 3 2006 5:44PM (CT)
MIDDLETOWN, Ohio (AP) - The first negotiations scheduled to try to end a three-day lockout of 2,700 AK Steel workers at the company's biggest plant were postponed Friday because of a newspaper report that the company was in talks about being acquired by its bigger rival U.S. Steel Corp.
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U-Store-It Trust shares dip after 4Q miss
Mar 3 2006 5:42PM (CT)
CLEVELAND (AP) - Shares of self-storage facility owner and operator U-Store-It Trust tumbled on Friday as two analysts expressed concern over the size of management bonuses following fourth-quarter earnings that missed Wall Street estimates.
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Intel lowers revenue forecast on share loss
Mar 3 2006 5:08PM (CT)
SAN JOSE, Calif. (AP) - In a troubling sign for a tech industry dominated by Intel Corp. chips, the world's No. 1 semiconductor company sharply cut its first-quarter revenue forecast Friday after seeing weaker-than-expected demand and a "slight" share loss to rivals.
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AK Steel up on reported U.S. Steel talks
Mar 3 2006 4:54PM (CT)
CINCINNATI (AP) - AK Steel's shares climbed more than 23 percent Friday after a published report said it was in talks about being acquired by its bigger rival U.S. Steel Corp.
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Fortis posts earnings early after theft
Mar 3 2006 4:52PM (CT)
AMSTERDAM, Netherlands (AP) - A briefcase containing a draft version of the earnings report of Belgian-Dutch bank Fortis NV/SA was stolen, prompting the bank to report its 32 percent rise in full-year profit a week early on Friday.
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Service sector hits growth spurt
Mar 3 2006 4:51PM (CT)
NEW YORK (AP) - The nation's service sector _ a wide range of businesses such as banking, restaurants and insurance _ expanded at a faster pace in February than Wall Street economists had expected, a private research group said Friday.
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Investor seeks five seats on Heinz board
Mar 3 2006 4:51PM (CT)
PITTSBURGH (AP) - H.J. Heinz Co. said Friday that a group led by billionaire investor Nelson Peltz plans to nominate five candidates to the food company's 12-member board. Its stock rose more than 2 percent.
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GE's CEO takes bonus in shares, not cash
Mar 3 2006 4:48PM (CT)
STAMFORD, Conn. (AP) - General Electric Co. Chief Executive Jeff Immelt will not take a cash bonus for 2005, opting instead to take performance shares worth up to $6 million if the company has strong financial results.
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Friday's commodities roundup
Mar 3 2006 4:45PM (CT)
NEW YORK (AP) - Silver rose again Friday, reaching a fresh 19-year high as market watchers await news on the proposal of a silver exchange-traded fund.
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Analysts: Wendy's may end up for sale
Mar 3 2006 4:43PM (CT)
COLUMBUS, Ohio (AP) - Major shareholders are more likely to push Wendy's to sell the third-largest hamburger chain now that they have succeeded in their demands to shake up the company, analysts say.
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Delta seeks millions to pay advisers
Mar 3 2006 4:31PM (CT)
ATLANTA (AP) - Delta Air Lines Inc., the nation's third-largest carrier, asked a bankruptcy court judge Friday to approve $3.9 million in payments to some of the airline's advisers.
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Adelphia founder's son sentenced
Mar 3 2006 4:30PM (CT)
NEW YORK (AP) - A son of Adelphia Communications Corp. founder John Rigas was sentenced Friday to 10 months home confinement by a judge who said he was "close to being a pawn" in a family-run cable television business portrayed as a house of fraud.
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U.S., Mexico smooth out cement deal
Mar 3 2006 4:00PM (CT)
WASHINGTON (AP) - Negotiators from the United States and Mexico have resolved the final sticking points in a deal that will end a 16-year dispute between the two nations over cement, officials said Friday.
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Microsoft wants U.S. courts in EU fight
Mar 3 2006 3:54PM (CT)
BRUSSELS, Belgium (AP) - Microsoft Corp. is asking U.S. courts to compel Sun Microsystems Inc., IBM Corp., Oracle Corp. and Novell Inc. to hand over correspondence with EU regulators on Microsoft's antitrust battle in Europe.
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Web-site operator LoopNet plans IPO
Mar 3 2006 2:55PM (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 3 2006 2:55PM (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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Court approves Calpine plan
Mar 3 2006 2:54PM (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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Quanta Capital shares fall
Mar 3 2006 2:53PM (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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PHH Corp. shares fall
Mar 3 2006 2:10PM (CT)
NEW YORK (AP) - PHH Corp. stock fell Thursday after the mortgage company delayed the filing of its 10-K form with the Securities and Exchange Commission, citing accounting adjustments related to its spin-off from Cendant Corp.
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Former Qwest exec fined $250,000
Mar 3 2006 1:18PM (CT)
DENVER (AP) - Former Qwest Communications International Inc. executive Marc B. Weisberg was fined $250,000 Friday and sentenced to 60 days of home detention after pleading guilty to wire fraud.
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Adecco posts 63 percent profit
Mar 3 2006 1:10PM (CT)
CHESEREX, Switzerland (AP) - Employment agency Adecco SA on Friday posted a 63 percent rise in fourth-quarter net profit to 171 million euros ($204 million), largely because of a 65 million euro ($78 million) gain from the sale of one of its units.
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Dubai port deal is delayed over protest
Mar 3 2006 12:40PM (CT)
LONDON (AP) - A Miami company objecting to the takeover of British shipping company P&O by Dubai's state-owned DP World said Friday it has been granted the right to take the case to Britain's Court of Appeal _ a move that puts the deal on hold.
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Eurazeo: would keep VW unit independent
Mar 3 2006 12:28PM (CT)
FRANKFURT, Germany (AP) - French private equity company Eurazeo SA said Friday it would maintain the independence of car rental company Europcar if its bid for the Volkswagen AG unit is successful.
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Envoy accuses China over product piracy
Mar 3 2006 9:47AM (CT)
BEIJING (AP) - China is failing to do enough to prevent growing product piracy and could be forced to answer formal complaints over it in the World Trade Organization if it doesn't take more aggressive action, a U.S. trade envoy said Friday.
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Germans, Russians agree on merger rules
Mar 3 2006 9:09AM (CT)
FRANKFURT, Germany (AP) - Germany's financial services regulator said Friday it has signed a memorandum of understanding with Russia's central bank aimed at helping smooth the governmental review of any deals involving Russian and German companies.
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EU lifts high end of growth forecast
Mar 3 2006 8:48AM (CT)
BRUSSELS, Belgium (AP) - The European Commission on Friday raised the upper end of its economic growth forecast for the first quarter in the 12 nation-region which shares the euro as its currency.
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Budweiser appeals sales ban in Portugal
Mar 3 2006 8:17AM (CT)
STRASBOURG, France (AP) - Anheuser-Busch has appealed a ruling by the European Court of Human Rights that stopped the beer maker from selling its Budweiser brand in Portugal, the court said Friday.
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EU seeks info on French energy deal
Mar 3 2006 8:16AM (CT)
BRUSSELS, Belgium (AP) - The European Commission wants France to explain by March 17 its role in state-controlled Gaz de France SA's hastily arranged deal to acquire French energy rival Suez SA, an agency official said.
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Wendy's may sell its Baja Fresh chain
Mar 3 2006 6:57AM (CT)
COLUMBUS, Ohio (AP) - Wendy's International Inc. is exploring a sale of its underperforming Baja Fresh Mexican Grill unit and plans to boost its board ranks with three new directors endorsed by an influential investor.
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Japanese CPI rises for 3rd straight month
Mar 3 2006 6:09AM (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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More Korail employees return to work
Mar 3 2006 6:05AM (CT)
SEOUL, South Korea (AP) - Authorities took a harder line Friday against striking South Korean railway workers even as numbers taking part in the illegal walkout decreased under threat of dismissal from work and amid police detentions.
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NYT reporter named Atlantic Monthly editor
Mar 3 2006 5:54AM (CT)
NEW YORK (AP) - The Atlantic Monthly, which was founded in 19th-century Boston by a group of writers including Ralph Waldo Emerson and Henry Wadsworth Longfellow, has named a New York Times reporter to lead the magazine.
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Japanese stocks drop on CPI data
Mar 3 2006 5:42AM (CT)
TOKYO (AP) - Japanese stocks fell for a third day Friday after consumer price figures suggested that the central bank may soon end its ultra-loose monetary policy. The dollar rose against the yen.
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Fortis posts earnings early after theft
Mar 3 2006 5:35AM (CT)
AMSTERDAM, Netherlands (AP) - Belgian-Dutch bank Fortis NV/SA, which had planned to release its full year earnings on March 9, published an abbreviated version of the report on Friday after a briefcase containing information about the results was stolen, the company said.
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Peach growers hope to dodge late frost
Mar 3 2006 5:10AM (CT)
ALBANY, Ga. (AP) - Georgia and South Carolina peach growers have cleared the first hurdle for producing the sweet, juicy fruit, but they are still a long way from the finish line.
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AK Steel aims to avoid industry scrap pile
Mar 3 2006 4:16AM (CT)
MIDDLETOWN, Ohio (AP) - AK Steel, which has locked out workers in a contract dispute, says U.S. steelmaking's recent history shows that failing to cut labor costs could leave the independent company by the wayside like so much scrap iron.
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Overstock.com chairman may step down
Mar 3 2006 12:28AM (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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