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China creates court for piracy cases
Mar 9 2006 11:24PM (CT)
BEIJING (AP) - China has created a special court to prosecute product piracy cases, a government spokesman said Friday, amid demands for Beijing to step up action against rampant illegal copying of movies, music, software and other goods.
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Group sets out to shake up Sharper Image
Mar 9 2006 10:59PM (CT)
SAN FRANCISCO (AP) - A major shareholder of Sharper Image Corp. on Thursday set out to oust the company's board of directors in a bid to retool the ailing retailer of high-tech gadgets and other offbeat merchandise.
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Final bids come due for Knight Ridder
Mar 9 2006 10:50PM (CT)
NEW YORK (AP) - Final bids were coming due for Knight Ridder Inc. Thursday, the end of a process that could not only determine the future of the No. 2 newspaper publisher in the country but also provide an important read on investor sentiment toward the industry.
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Clear Channel to spend extra on buyback
Mar 9 2006 10:25PM (CT)
SAN ANTONIO (AP) - Clear Channel Communications Inc., the nation's largest radio station owner, plans to repurchase $600 million of its common stock over the next 12 months.
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Strike staged against Aerolineas Argentinas
Mar 9 2006 9:54PM (CT)
BUENOS AIRES, Argentina (AP) - Two unions representing pilots and mechanics launched a 24-hour strike against Aerolineas Argentinas on Thursday, one day after Argentina's flagship carrier rejected workers' wage increase proposals.
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Acuity Brands Inc. to pay gov't $700,000
Mar 9 2006 8:59PM (CT)
WASHINGTON (AP) - Acuity Brands Inc. agreed to pay $700,000 to the Consumer Product Safety Commission to settle allegations that the company failed to report defects in its lighting products in a timely manner.
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Number of billionaires up to record 793
Mar 9 2006 8:48PM (CT)
NEW YORK (AP) - As emerging stock markets surged during the past year, 102 wealthy people around the world won a much-coveted title along with their stellar gains _ they all became billionaires.
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Fastow: No proof of deals with Skilling
Mar 9 2006 8:46PM (CT)
HOUSTON (AP) - The prosecution's star witness could offer no hard evidence Thursday of any improper deals with former Enron CEO Jeffrey Skilling that were used to help the company look stronger to Wall Street than it was.
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Japanese stocks continue to rise; dollar up
Mar 9 2006 8:10PM (CT)
TOKYO (AP) - Japanese stocks continued rising Friday after the Bank of Japan announced the end of its super-easy monetary policy, a move that relieved months of market uncertainty and signaled renewed confidence in Japan's economic recovery.
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Former Davis Oil Co. declares bankruptcy
Mar 9 2006 7:50PM (CT)
DENVER (AP) - A Texas oil company run by the son of the late Denver billionaire Marvin Davis has filed for bankruptcy protection and says a new set of investors will purchase the business.
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DreamWorks 4Q profit down but tops views
Mar 9 2006 7:40PM (CT)
LOS ANGELES (AP) - Fourth quarter profits fell by more than half at DreamWorks Animation SKG Inc. as DVD sales of "Madagascar" failed to match last year's box office receipts from the blockbuster "Shrek 2."
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Four Seasons Hotels posts $37.8M 4Q loss
Mar 9 2006 7:30PM (CT)
TORONTO (AP) - A total of $60.8 million in net pension plan expenses, asset writedowns and provisions plunged Four Seasons Hotels Inc. into a fourth-quarter net loss of $37.8 million, the company reported Thursday.
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Google acquires Upstartle
Mar 9 2006 7:30PM (CT)
MOUNTAIN VIEW, Calif. (AP) - Google Inc. has bought the maker of Writely, an online word processing program that gives the online search engine leader another potential weapon in its escalating battle with Microsoft Corp.
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Indoor tanning salons aim to boost profile
Mar 9 2006 7:30PM (CT)
DALLAS (AP) - Harvin Greene still loves looking tan, but with a 3-year-old daughter, she doesn't have much time anymore for sitting in the sun or keeping frequent appointments to use a tanning bed.
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Tyco execs start recovering stolen money
Mar 9 2006 7:30PM (CT)
TRENTON, N.J. (AP) - Officials with Tyco International Ltd. said Thursday they have begun to recover some of the money that two former executives were jailed for looting from the conglomerate.
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Intuit ups outlook due to TurboTax sales
Mar 9 2006 7:30PM (CT)
SAN FRANCISCO (AP) - Intuit Inc. predicted its quarterly profit will be better than expected, primarily because more people are buying the online version of its market-leading tax preparation software. The news lifted the company's stock price by more than 6 percent.
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Cigarette sales tumble to 55-year low
Mar 9 2006 7:20PM (CT)
WASHINGTON (AP) - Cigarette sales are at a 55-year low, but public health advocates say more must be done to encourage the roughly 20 percent of Americans who still smoke to quit.
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Cigarette sales tumble to 55-year low
Mar 9 2006 7:20PM (CT)
WASHINGTON (AP) - Cigarette sales are at a 55-year low, but public health advocates say more must be done to encourage the roughly 20 percent of Americans who still smoke to quit.
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Biogen Idec, Elan shares rise on MS drug
Mar 9 2006 7:10PM (CT)
BOSTON (AP) - Shares of the makers of a multiple sclerosis drug surged after regulators recommended returning it to the market, and analysts on Thursday said the government appeared poised to let sales resume with fewer restrictions than expected.
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Money funds advance in latest week
Mar 9 2006 7:10PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds rose by $1.57 billion in the latest week to $853.98 billion, the Investment Company Institute said Thursday.
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Welch to teach leadership course at MIT
Mar 9 2006 6:50PM (CT)
CAMBRIDGE, Mass. (AP) - Former General Electric Co. CEO Jack Welch plans to share with students the business advice he offers in his books.
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Sikorsky to move operations during strike
Mar 9 2006 6:48PM (CT)
STAMFORD, Conn. (AP) - Sikorsky Aircraft has hired temporary workers and will move some operations out of state during a strike by nearly 3,600 Teamsters that is in its third week, a company spokesman told The Associated Press on Thursday.
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NYSE Group head opposes separate regulator
Mar 9 2006 6:12PM (CT)
WASHINGTON (AP) - The head of the newly public New York Stock Exchange said Thursday it doesn't plan to create a separate regulatory body to oversee the exchange.
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Oil prices rise, gas prices fall on data
Mar 9 2006 6:06PM (CT)
WASHINGTON (AP) - Crude oil prices rose Thursday, riding on the back of a rally in gasoline, while natural gas prices moved in the opposite direction after government data showed an abundance of domestic supply.
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U.S. Treasury prices climb after auction
Mar 9 2006 5:48PM (CT)
NEW YORK (AP) - U.S. Treasury prices edged higher Thursday after the market absorbed the sale of $8 billion of reopened 10-year notes and braced for Friday's payrolls report.
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EU nations demand biotech system changes
Mar 9 2006 5:38PM (CT)
BRUSSELS, Belgium (AP) - A majority of EU nations demanded on Thursday that the bloc changes the way it approves new biotech crops, arguing that previous approvals since the EU lifted its moratorium were done without proper research.
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PPR net profit in 2005 rises 11.2 percent
Mar 9 2006 5:33PM (CT)
PARIS (AP) - PPR SA said Thursday its net profit nearly halved in 2005 as it continued to shed non-core businesses, transforming itself from a diversified conglomerate to a luxury retail group focused on its Gucci Group luxury arm.
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Thursday's commodities roundup
Mar 9 2006 5:26PM (CT)
NEW YORK (AP) - Gold and other precious metals recovered Thursday from a steep sell-off Wednesday, lifted by speculative and trade buying, which some described as bargain hunting.
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Volkswagen to sell Europcar to Eurazeo
Mar 9 2006 5:25PM (CT)
BERLIN (AP) - Volkswagen AG said Thursday that it will sell its Europcar unit, Europe's biggest car rental company, to French investment firm Eurazeo SA in a deal valued at 1.26 billion euros ($1.5 billion).
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KMG America shares fall on 2006 warning
Mar 9 2006 5:18PM (CT)
NEW YORK (AP) - Shares of KMG America Corp. fell sharply after the insurance company warned that product-approval delays would push 2006 profit well below Wall Street's expectations.
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Global Power Equipment Group shares fall
Mar 9 2006 5:18PM (CT)
NEW YORK (AP) - The stock of Global Power Equipment Group Inc. fell Thursday after the maker of components for gas-turbine power plants said cost overruns at several projects would hurt earnings for its latest quarter.
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Fortis 4Q profit up 24 percent to $548M
Mar 9 2006 5:15PM (CT)
AMSTERDAM, Netherlands (AP) - The Belgian-Dutch bank and insurance company Fortis NV said Thursday its fourth-quarter earnings rose 24 percent, as a rise in banking profits outweighed a fall in insurance earnings.
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Correction: Gemstar-TV Guide Int'l story
Mar 9 2006 5:10PM (CT)
LOS ANGELES (AP) - In a March 8 story about Gemstar-TV Guide International Inc., The Associated Press erroneously reported earnings expectations. The company expects its TV Guide operations to incur losses between $100 million and $110 million during 2005 and 2006, not during the next two years.
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United restructuring to cost $335M-plus
Mar 9 2006 5:10PM (CT)
CHICAGO (AP) - United Airlines' three-year bankruptcy restructuring, the largest and longest in the industry's history, will end up costing the carrier more than $335 million in fees to lawyers and consultants, court documents show.
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Investors to cash in on NYSE Group stock
Mar 9 2006 5:06PM (CT)
NEW YORK (AP) - Private equity firm General Atlantic Partners LLC and Wall Street stalwart Goldman Sachs Group Inc. took a chance on Archipelago Holdings Inc. as it was just starting up in January 1997. With Archipelago now a part of the NYSE Group, those early investors are poised to cash in big.
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E.On posts 71 percent jump in 2005 profit
Mar 9 2006 5:00PM (CT)
BERLIN (AP) - E.On AG, Germany's biggest utility, on Thursday posted a 71 percent jump in full-year profit on one-time gains and said it was determined to win a takeover battle for Spain's Endesa SA.
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BMW reports flat net profit for 2005
Mar 9 2006 4:57PM (CT)
BERLIN (AP) - BMW AG on Thursday posted flat net profit for 2005 as rising costs and currency effects offset record sales of the German company's luxury autos.
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Deutsche Bank cuts 2005 profit by $298M
Mar 9 2006 4:55PM (CT)
BERLIN (AP) - Deutsche Bank AG said Thursday it was reducing its 2005 net profit by 250 million euros ($298 million) to cover newly discovered legal risks dating back nearly a decade.
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Eagle Test Systems stock flat in IPO
Mar 9 2006 4:53PM (CT)
WASHINGTON (AP) - The stock of semiconductor test-equipment maker Eagle Test Systems Inc. ended unchanged from its offering price Thursday, its first day of trading as a public company.
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Arrest warrant issued for Repsol YPF exec
Mar 9 2006 4:52PM (CT)
LA PAZ, Bolivia (AP) - Bolivian authorities issued an arrest warrant Thursday for the local president of Spanish-Argentine energy company Repsol YPF after he failed to testify in an oil-smuggling investigation.
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Chenevert elected UTC president, COO
Mar 9 2006 4:48PM (CT)
HARTFORD, Conn. (AP) - The president of jet engine maker Pratt & Whitney has been elected president and chief operating officer of United Technologies Corp., moving him closer to UTC's top job, the industrial conglomerate announced Wednesday evening.
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GM shares up on word of Delphi, UAW deal
Mar 9 2006 4:39PM (CT)
DETROIT (AP) - General Motors Corp. shares rose Thursday on word the automaker was close to a deal with Delphi Corp. and the United Auto Workers to help Delphi's hourly workers, but the UAW cast some doubt by hotly denying an agreement is imminent.
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Imax goes on auction block; 4Q profit up
Mar 9 2006 4:35PM (CT)
TORONTO (AP) - Canadian big-screen movie company Imax Corp. is on the auction block after several unsolicited inquiries prompted its management to look at strategic alternatives, the company announced Thursday as it reported a 54 percent rise in fourth-quarter profit.
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Blockbuster fourth-quarter profit soars
Mar 9 2006 4:32PM (CT)
DALLAS (AP) - Blockbuster Inc., the nation's largest movie retail chain, said Thursday its fourth-quarter profit increased significantly. The news capped a tumultuous year that included proxy fights, discussions of bankruptcy protection and a contested decision to end late fees.
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Union wants judge to deny Comair request
Mar 9 2006 4:29PM (CT)
CINCINNATI (AP) - The union representing Comair flight attendants asked a federal bankruptcy judge late Wednesday to deny the airline's request to void its contract with about 1,000 flight attendants.
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Regulator: Poland wrong to question deal
Mar 9 2006 4:14PM (CT)
WARSAW, Poland (AP) - The Polish government has no right to question EU approval of Italian bank UniCredit's takeover of Poland's BPH, Warsaw's chief competition regulator said Thursday.
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WTO members seek to revive trade talks
Mar 9 2006 3:54PM (CT)
GENEVA (AP) - World Trade Organization members keep setting deadlines in an effort to conclude a binding trade liberalization pact by the end of this year _ and they keep missing them.
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EU antitrust officials review complaints
Mar 9 2006 3:47PM (CT)
BRUSSELS, Belgium (AP) - The EU's antitrust commissioner said Thursday that regulators are looking into complaints from Italy's Enel over the French government move that blocked a possible takeover bid for French utility company Suez.
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Winn-Dixie given extension to file plan
Mar 9 2006 3:36PM (CT)
JACKSONVILLE, Fla. (AP) - Bankrupt supermarket chain Winn-Dixie Stores Inc. was given a 30-day extension until April 19 to file its reorganization plan Thursday, but the company still hopes to emerge from bankruptcy this summer.
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Merrill Lynch offices searched in Milan
Mar 9 2006 2:35PM (CT)
ROME (AP) - Merrill Lynch & Co. said its offices in Milan were searched on Thursday as part of a probe into last year's equity swap involving IFIL, the Agnelli family holding company which owns 30 percent of car-maker Fiat SPA.
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Mining company acquires Niger properties
Mar 9 2006 2:29PM (CT)
TORONTO (AP) - The Canadian mining and exploration company Northwestern Mineral Ventures announced Thursday it had acquired two prospective uranium properties in the West African country of Niger, one of the world's leading uranium producers.
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Beverage makers shift focus from sodas
Mar 9 2006 2:24PM (CT)
ATLANTA (AP) - Beverage makers who once relied heavily on carbonated soft-drink sales are putting more focus on water and sports drinks as consumers show increasing interest in drinks that are lighter and are perceived to be healthier.
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British Airways plans to cut $780 million
Mar 9 2006 2:17PM (CT)
LONDON (AP) - British Airways PLC, which is facing tough competition from budget airlines and coping with surging fuel costs, announced another cost-cutting program Thursday.
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30-year mortgage rates jump to 2-year high
Mar 9 2006 1:52PM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages jumped to the highest level in 2 1/2 years this week, driven higher by inflation worries in financial markets.
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Japan joins stride of global economy
Mar 9 2006 1:37PM (CT)
TOKYO (AP) - The Bank of Japan on Thursday ditched a five-year policy that has kept domestic borrowing costs next to nothing, marking a historic milestone in the country's economic comeback and joining a global trend away from easy money.
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SFBC International shares jump
Mar 9 2006 1:37PM (CT)
NEW YORK (AP) - SFBC International Inc. shares surged Thursday after the drug-development services company reported a better-than-expected fourth quarter and a strong 2006 outlook.
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Dollar slips versus yen
Mar 9 2006 1:02PM (CT)
NEW YORK (AP) - The dollar slipped versus the yen Thursday, following the Bank of Japan's decision overnight to end its ultra-loose monetary policy.
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N.J. judge says port lease remains valid
Mar 9 2006 12:29PM (CT)
NEWARK, N.J. (AP) - A New Jersey judge on Thursday axed a bid by officials from two states to end Port Newark's lease with a company that plans to sell operations at major U.S. ports to an Arab-owned company.
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BOE holds interest rates for seventh month
Mar 9 2006 10:00AM (CT)
LONDON (AP) - The Bank of England kept its key interest rate at 4.5 percent on Thursday, leaving the cost of borrowing unchanged for the seventh consecutive month.
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Icahn-led group may raise offer for KT&G
Mar 9 2006 9:45AM (CT)
SEOUL, South Korea (AP) - Investors led by U.S. billionaire Carl Icahn said Thursday they were ready to consider raising their informal offer to acquire South Korea's former government tobacco monopoly, but stopped short of making a formal bid.
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Exxon to appeal Aceh torture case ruling
Mar 9 2006 9:05AM (CT)
JAKARTA, Indonesia (AP) - Exxon Mobil Corp. said Thursday it would appeal the ruling by a U.S. judge to allow villagers to sue the oil giant for alleged abuses by Indonesian troops at facilities it operated in Aceh province.
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Remicade gets EU approval to treat colitis
Mar 9 2006 7:37AM (CT)
KENILWORTH, N.J. (AP) - Drug maker Schering-Plough Corp. and Centocor Inc., the biotech unit of Johnson & Johnson, said Thursday that European regulators approved Remicade for the treatment of ulcerative colitis.
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Russian high court rejects pipeline appeal
Mar 9 2006 7:29AM (CT)
MOSCOW (AP) - Russia's Supreme Court on Thursday rejected an appeal over the route of a controversial Siberian oil pipeline that will go past Lake Baikal, the world's largest freshwater lake, an environmental campaigner said.
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Japan halts part of J.P. Morgan operations
Mar 9 2006 7:26AM (CT)
TOKYO (AP) - Japan's financial watchdog on Thursday penalized the Tokyo branch of J.P. Morgan Securities Asia for alleged violations of securities laws.
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France's Carrefour reports profit drop
Mar 9 2006 6:27AM (CT)
PARIS (AP) - Carrefour SA, the world's second-largest retailer, reported a 16 percent drop in net income in 2005 due to one-time charges, but said it will spend 10 billion euros ($11.9 billion) over the next three years to open up new stores and strengthen its brand name.
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TiVo rolls out new pricing structure
Mar 9 2006 5:40AM (CT)
SAN JOSE, Calif. (AP) - To attract more subscribers, TiVo Inc. is launching a new pricing plan next week that eliminates the upfront charge for its digital video recorders and sets bundled service packages based commitments of one to three years.
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E.On posts 71 percent rise in 2005 profits
Mar 9 2006 5:23AM (CT)
BERLIN (AP) - E.On AG, Germany's biggest utility, on Thursday posted a 71 percent jump in full-year profit on one-time gains and said it was determined to win a takeover battle for Spain's Endesa SA.
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U.S. Chamber of Commerce criticizes SEC
Mar 9 2006 5:21AM (CT)
WASHINGTON (AP) - The U.S. Chamber of Commerce, which already has taken the Securities and Exchange Commission to court over mutual fund governance, now is criticizing the agency's legal actions against companies as overly punitive.
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BOJ Head: Interest rates will stay zero
Mar 9 2006 4:53AM (CT)
TOKYO (AP) - The head of the Bank of Japan said Thursday that even as the central bank abandons its super-easy monetary policy, interest rates will stay near zero for some time to make sure the economy is strengthening.
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NYSE Group stock surges in trading debut
Mar 9 2006 1:41AM (CT)
NEW YORK (AP) - Investors welcomed the NYSE Group Inc. to Wall Street Wednesday, sending shares of the newly public New York Stock Exchange up 25 percent in its first trading session on the Big Board.
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China launches copyright protection plan
Mar 9 2006 1:29AM (CT)
BEIJING (AP) - China's government has created a plan to intensify intellectual property rights protection this year, the government said Thursday.
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United Technologies names Chenevert COO
Mar 9 2006 12:33AM (CT)
HARTFORD, Conn. (AP) - The president of jet engine maker Pratt & Whitney has been elected president and chief operating officer of United Technologies Corp., moving him closer to UTC's top job, the industrial conglomerate said Wednesday.
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