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Japanese stocks rise but Sony falls
Mar 14 2006 11:16PM (CT)
TOKYO (AP) - Japanese stocks bounced back Wednesday morning as traders took a cue from Wall Street, where stocks rose earlier. But Sony Corp. fell nearly 2 percent following new reports that it would delay the release of its Playstation 3 game machine.
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Liberty Global reports 4th-quarter profit
Mar 14 2006 10:45PM (CT)
DENVER (AP) - International cable television operator Liberty Global Inc. on Tuesday reported a profit in the fourth quarter, crediting an increase in demand for broadband, digital television and Internet-based phone services.
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Florida sues Marsh & McLennan over fees
Mar 14 2006 10:36PM (CT)
TALLAHASSEE, Fla. (AP) - Florida authorities filed a lawsuit Tuesday accusing Marsh & McLennan Cos. Inc., the nation's largest insurance brokerage, of lying to clients and receiving improper commission fees.
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Trident Seafood to buy ConAgra business
Mar 14 2006 10:23PM (CT)
OMAHA, Neb. (AP) - ConAgra Foods Inc., one of the nation's largest packaged-foods companies, said Tuesday that it found a buyer for its imitation shellfish business which includes the Louis Kemp brand.
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Fox announces major Mexico oil find
Mar 14 2006 9:08PM (CT)
VERACRUZ, Mexico (AP) - President Vicente Fox climbed aboard a drilling platform in the Gulf of Mexico on Tuesday to formally announce a new deep-water oil discovery he said could eventually yield 10 billion barrels of crude oil.
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Agencies adopt new credit scoring system
Mar 14 2006 9:00PM (CT)
NEW YORK (AP) - The nation's three major consumer credit bureaus have created a new credit scoring system designed to make it easier for financial institutions to evaluate loan applications and to give consumers a better way of measuring their financial health.
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Sony set to outline PlayStation strategy
Mar 14 2006 8:59PM (CT)
TOKYO (AP) - The head of Sony's video game unit was set to outline strategy Wednesday on the PlayStation console amid Japanese media reports of delays in plans to offer the next-generation machine PlayStation 3 for sale this spring.
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Enron executive says Lay cold to criticism
Mar 14 2006 8:57PM (CT)
HOUSTON (AP) - A former Enron Corp. executive said Tuesday he and his staff were swept from the company's risk-assessment squad to another division after former Chief Executive Officer Jeffrey Skilling complained they had acted more like "cops" than deal facilitators.
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US Airways to recall flight attendants
Mar 14 2006 7:16PM (CT)
TEMPE, Ariz. (AP) - US Airways Group Inc. will recall up to 400 furloughed flight attendants as it prepares to ramp up its schedule for the busy summer travel season.
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CHC Helicopter shares advance 14 percent
Mar 14 2006 7:06PM (CT)
TORONTO (AP) - Shares of CHC Helicopter Corp., which provides transportation services to offshore oil fields, rose Tuesday after founder Craig Dobbin said he was considering taking the company private.
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Wheeling-Pittsburgh posts $23.4M 4Q loss
Mar 14 2006 7:01PM (CT)
MORGANTOWN, W.Va. (AP) - The parent of Wheeling Pittsburgh Steel Corp. blamed rising costs and falling steel prices for a fourth-quarter loss of $23.4 million, pushing shares down 5.38 percent.
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Wheeling Pittsburgh posts $23.4M 4Q loss
Mar 14 2006 7:01PM (CT)
MORGANTOWN, W.Va. (AP) - The parent of Wheeling Pittsburgh Steel Corp. blamed rising costs and falling steel prices for a fourth-quarter loss of $23.4 million, pushing shares down 5.38 percent.
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Venezuela to hike taxes for oil companies
Mar 14 2006 6:51PM (CT)
CARACAS, Venezuela (AP) - The Venezuelan government will raise income taxes from 34 percent to 50 percent for oil companies operating along the Orinoco River, Venezuela's oil minister said Tuesday.
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Union Pacific boosts 1Q earnings outlook
Mar 14 2006 6:47PM (CT)
OMAHA, Neb. (AP) - Union Pacific Corp., the nation's largest railroad operator, said Tuesday its first-quarter earnings will be better than predicted because of strong demand for commodity products and robust profit margins.
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Northwest employees weigh tentative deal
Mar 14 2006 6:22PM (CT)
MINNEAPOLIS (AP) - The tentative agreement being considered by Northwest Airlines Corp. flight attendants could lead to about 1,200 of them leaving the company early under a severance plan.
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U.S. seeks more control over Fannie Mae
Mar 14 2006 6:20PM (CT)
WASHINGTON (AP) - The Bush administration and a key House lawmaker on Tuesday cited the investigation that found a breakdown in financial controls at Fannie Mae to bolster their push for tighter federal control of the mortgage giant and its government-sponsored sibling, Freddie Mac.
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Alaska Airlines to retire MD-80 jets
Mar 14 2006 6:09PM (CT)
SEATTLE (AP) - Alaska Airlines will retire all of its MD-80 jets nearly a decade ahead of schedule and fly nothing but Boeing 737s by 2009.
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AP corrects Treasury-Bills story
Mar 14 2006 6:07PM (CT)
WASHINGTON (AP) - In a March 13 story about the weekly Treasury auction, The Associated Press reported erroneously the price of the three-month and six-month bills. The correct price for the three-month bill was $9,886.00, and the correct price for the six-month bill was $9,765.17. The AP reversed the two figures.
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Exec: Delta needs pilots' cuts to survive
Mar 14 2006 6:05PM (CT)
WASHINGTON (AP) - Delta Air Lines Inc. is "tapped out" and can't borrow any more money to cover its mounting losses, making deep pay and benefit cuts it is seeking from its pilots essential to its survival, the company's chief financial officer told an arbitration panel Tuesday.
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Execs: 2006 promising for cruise industry
Mar 14 2006 6:03PM (CT)
MIAMI BEACH, Fla. (AP) - Trips on cruise ships remain a popular vacation value and 2006 looks encouraging despite rising fuel prices and media reports focusing on crime and safety problems on vessels, top cruise executives said Tuesday.
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Firms issue bids on potential oil tracts
Mar 14 2006 5:59PM (CT)
NEW ORLEANS (AP) - Buoyed by still-high oil prices, 77 petroleum exploration companies issued 707 bids on 405 potential petroleum tracts off the coasts of Louisiana, Mississippi and Alabama, the U.S. Minerals Management Service said Tuesday.
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Sherwin-Williams boosts 1Q profit outlook
Mar 14 2006 5:58PM (CT)
CLEVELAND (AP) - The Sherwin-Williams Co. on Tuesday raised its profit outlook for the first quarter, crediting better sales at its paint stores and improved expense controls.
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Kansas City Southern to pay Grupo TMM $70M
Mar 14 2006 5:49PM (CT)
KANSAS CITY, Mo. (AP) - Railroad company Kansas City Southern Industries Inc. will pay Mexican firm Grupo TMM $70 million in cash and stock, part of its agreement last year to buy Transportacion Ferroviaria Mexicana, the largest railroad company in Mexico.
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Farmers face immigrant workers shortage
Mar 14 2006 5:37PM (CT)
OMEGA, Ga. (AP) - Randy Scarbor was counting on the 15 immigrant workers who lived on his farm to harvest his 60-acre sweet-potato crop last fall, but they vanished just as the work got under way. He instead was forced to bring in some less-motivated substitutes for the backbreaking job.
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Tuesday's commodities roundup
Mar 14 2006 5:35PM (CT)
NEW YORK (AP) - Gold rose Tuesday, gaining support from a softer U.S. dollar and rising crude oil prices.
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IRS suggests publicizing corporate returns
Mar 14 2006 5:26PM (CT)
WASHINGTON (AP) - Lawmakers should consider making corporate tax returns public to encourage businesses to follow tax laws, IRS Commissioner Mark Everson said Tuesday.
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Harris stock up 8.2 pct. on strong demand
Mar 14 2006 5:11PM (CT)
NEW YORK (AP) - Harris Corp. shares rose sharply Tuesday after the information-technology company forecast better-than-expected fiscal 2007 earnings on strong demand for radio frequency communications and broadcast products.
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Clear Channel: U.S. ends antitrust probes
Mar 14 2006 5:07PM (CT)
SAN ANTONIO (AP) - Clear Channel Communications Inc., the nation's largest radio station owner, says the Justice Department has closed two antitrust investigations into its broadcast and concert business without taking action.
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Owner of Kaufmann's agrees to settle probe
Mar 14 2006 5:05PM (CT)
ALBANY, N.Y. (AP) - The department store chain that owns Kaufmann's has agreed to settle an investigation into claims of misleading advertising practices and "phony sales promotions," said New York Attorney General Eliot Spitzer.
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Deutsche Post posts gain in 4Q earnings
Mar 14 2006 5:03PM (CT)
FRANKFURT, Germany (AP) - Deutsche Post AG, parent of the DHL express-delivery service, said Tuesday its fourth-quarter profit rose 25 percent but warned its operating profit likely would be flat this year because of the costs of integrating recent acquisitions.
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Munich Re 4Q profit soars despite storms
Mar 14 2006 5:02PM (CT)
FRANKFURT, Germany (AP) - Munich Re AG, the world's largest reinsurer by gross premiums, said Tuesday its fourth-quarter profit quadrupled and its annual earnings rose despite the furious series of hurricanes that struck the Gulf of Mexico last year.
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U.S., EU lock horns over plane subsidies
Mar 14 2006 4:53PM (CT)
GENEVA (AP) - The United States and the European Union locked horns Tuesday in their WTO dispute over government subsidies to Boeing Co. and Airbus, with Washington rejecting Brussels' demand for more information on support programs to the U.S.-based plane maker.
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Goldman Sachs 1Q profit soars to new high
Mar 14 2006 4:51PM (CT)
NEW YORK (AP) - Goldman Sachs Group Inc.'s earnings were so good, so far beyond Wall Street's forecasts, that the company's chief financial officer felt he should qualify things a little.
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Gasoline futures surge nearly 7 percent
Mar 14 2006 4:47PM (CT)
WASHINGTON (AP) - Gasoline futures surged nearly 7 percent Tuesday on word of a large refinery snag, marking an almost 50-cent-per-gallon increase over the past month that is sure to send pump prices higher.
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Commerce secretary urges China to change
Mar 14 2006 4:46PM (CT)
WASHINGTON (AP) - Commerce Secretary Carlos Gutierrez said Tuesday that China's failure to change its economic policies plays into the hands of American lawmakers eager to "build protectionist barriers around the U.S. market."
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FTC OKs sale of Albertson's to consortium
Mar 14 2006 4:46PM (CT)
BOISE, Idaho (AP) - Albertson's Inc., the nation's second-largest grocery store chain, announced Tuesday that the Federal Trade Commission has approved the $9.7 billion sale of the company to a consortium led by Minnesota-based grocer Supervalu Inc. and drugstore chain CVS Corp.
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Boots Group to eliminate up to 2,250 jobs
Mar 14 2006 4:44PM (CT)
LONDON (AP) - British pharmacy chain Boots Group PLC said Tuesday it will cut up to 2,250 jobs at its warehouses as it prepares to combine with Alliance UniChem PLC this year.
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Canada OKs Whirlpool purchase of Maytag
Mar 14 2006 4:42PM (CT)
DES MOINES, Iowa (AP) - Government regulators in Canada approved Whirlpool's proposed purchase of appliance rival Maytag Corp. on Tuesday.
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FDIC OKs rule to boost accounts coverage
Mar 14 2006 4:37PM (CT)
WASHINGTON (AP) - The Federal Deposit Insurance Corp.'s board of directors on Tuesday approved an interim rule to boost deposit insurance coverage on certain retirement accounts to $250,000 from $100,000.
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Unisys to sell stake in Japan affiliate
Mar 14 2006 4:34PM (CT)
TOKYO (AP) - U.S. technology services company Unisys Corp. plans to sell its entire 27.8 percent stake in its Japanese affiliate, Nihon Unisys Ltd, the Japanese company said Wednesday.
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Dow Jones to pay $202M to settle dispute
Mar 14 2006 4:32PM (CT)
NEW YORK (AP) - Dow Jones & Co., publisher of The Wall Street Journal, on Tuesday said it has agreed to pay $202 million to settle a longstanding contract dispute with Market Data Corp. and Cantor Fitzgerald Securities.
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GE to buy Zenon Environmental for $656M
Mar 14 2006 4:31PM (CT)
STAMFORD, Conn. (AP) - General Electric Co. will buy a water treatment company in Canada for $656 million in a deal that will accelerate the conglomerate's plans to tap into a fast growing market in a thirsty world, company officials said Tuesday.
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Bernanke: Budget deficits endanger economy
Mar 14 2006 4:25PM (CT)
WASHINGTON (AP) - The persistence of big budget deficits raises risks to the country's long-term economic health and they need to be curbed, says Federal Reserve Chairman Ben Bernanke.
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EU advises WTO on sanctions against U.S.
Mar 14 2006 4:04PM (CT)
GENEVA (AP) - The European Union advised the World Trade Organization on Tuesday that it would reintroduce trade sanctions against the United States in two months unless Washington complies with a WTO ruling against tax breaks for U.S. companies operating overseas.
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Arbitrator sought to end Germany strike
Mar 14 2006 3:19PM (CT)
BERLIN (AP) - German authorities and a labor union said Tuesday they were bringing in arbitrators to help end a five-week strike by public workers protesting plans to make them work longer.
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Euronext to revive Deutsche Boerse talks
Mar 14 2006 2:49PM (CT)
PARIS (AP) - Euronext said Tuesday it was seeking to resume talks with Deutsche Boerse, signaling a retreat from its earlier plans to bid for the London Stock Exchange _ now the target of an offer from the U.S.-based Nasdaq.
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Schering's board rejects Merck's $18B bid
Mar 14 2006 2:18PM (CT)
FRANKFURT, Germany (AP) - Schering AG's board rejected a 14.9 billion euro ($17.7 billion) takeover bid from fellow German drugmaker Merck KGaA on Tuesday, and its chief executive insisted the company was better off independent.
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French watchdog fines perfume makers
Mar 14 2006 1:53PM (CT)
PARIS (AP) - Some of France's top perfume makers, from Chanel to Yves Saint Laurent, have been fined millions of dollars for allegedly colluding with vendors on prices over a three-year period, the antitrust authority announced Tuesday.
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SEC chief speaks about exchange regulation
Mar 14 2006 1:33PM (CT)
WASHINGTON (AP) - The rapidly changing landscape of the markets, with big stock exchanges transforming into for-profit businesses, means that regulators must re-examine the system of U.S. exchanges' self-regulation, the government's top securities regulator said Tuesday.
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Japan corporate bankruptcies up in Feb.
Mar 14 2006 1:17PM (CT)
TOKYO (AP) - Japanese corporate bankruptcies rose 6.4 percent in February from the previous year to 777 cases, but debts left behind by insolvent companies declined, a private credit research agency said Tuesday.
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Bonds rise on mixed U.S. retail sales data
Mar 14 2006 12:42PM (CT)
NEW YORK (AP) - Bonds rose Tuesday, as investors pared back bearish positions after the U.S. government released a mixed reading on retail sales.
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Farmers fret over losing immigrant workers
Mar 14 2006 12:40PM (CT)
OMEGA, Ga. (AP) - Randy Scarbor was counting on the 15 immigrant workers who lived on his farm to harvest his 60-acre sweet-potato crop last fall, but they vanished just as the work got underway. He instead was forced to bring in some less-motivated substitutes for the backbreaking job.
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EU gives Germany deadline on budget
Mar 14 2006 12:31PM (CT)
BRUSSELS, Belgium (AP) - The European Union on Tuesday gave Germany until July 14 to explain how it plans to bring its annual budget deficit below 3 percent of gross domestic product next year.
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China GrenTech plans IPO worth up to $10M
Mar 14 2006 12:02PM (CT)
WASHINGTON (AP) - China GrenTech Corp., a Chinese wireless product and service provider, is planning an initial public offering of American depositary shares worth a potential $100 million.
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EU trade chief: China not yet qualified
Mar 14 2006 11:57AM (CT)
STRASBOURG, France (AP) - European Union trade chief Peter Mandelson on Tuesday told China to remove barriers on imports of European goods if it wants to be recognized as a market economy by the 25-nation bloc.
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Johanns: Time short to reach trade deal
Mar 14 2006 11:25AM (CT)
BERLIN (AP) - Negotiators have only about six weeks left to reach a deal if they want to conclude a landmark world trade treaty by the end of this year, U.S. Agriculture Secretary Mike Johanns said Tuesday.
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KT&G to proceed with shareholders' meeting
Mar 14 2006 11:14AM (CT)
SEOUL, South Korea (AP) - KT&G Corp., South Korea's dominant tobacco company, said Tuesday its annual shareholders' meeting will go ahead this week, setting up a showdown with dissident investors led by U.S. billionaire Carl Icahn.
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Dollar lower against euro
Mar 14 2006 10:56AM (CT)
BERLIN (AP) - The dollar edged lower against the euro Tuesday as new data showed the U.S. current account deficit rose to an all-time high last year and February retail sales fell.
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Wheeling-Pittsburgh posts $23.4M 4Q loss
Mar 14 2006 10:31AM (CT)
WHEELING, W.Va. (AP) - The steelmaker Wheeling-Pittsburgh Corp. reported a fourth-quarter loss of $23.4 million Tuesday as steel prices fell and costs rose.
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EU nations seek new Russia energy pact
Mar 14 2006 10:17AM (CT)
BRUSSELS, Belgium (AP) - European Union energy ministers called Tuesday for a new energy pact with Russia to guarantee Europe's supply of natural gas and oil, just months after a price dispute between Russia and Ukraine temporarily turned off Europe's gas.
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German economic indicator falls in March
Mar 14 2006 8:57AM (CT)
FRANKFURT, Germany (AP) - German finance professionals' optimism about prospects for Europe's biggest economy declined in March for a second month in a row after reaching a two-year high in January, a report released Tuesday showed.
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Future unknown for 12 Knight Ridder papers
Mar 14 2006 8:56AM (CT)
MINNEAPOLIS (AP) - The future of the St. Paul Pioneer Press has been a question mark for years, but never more so than now. It was sold, then put up for sale again, on the same day. By the owner of the rival Star Tribune.
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EU warns of sanctions on U.S. goods
Mar 14 2006 8:48AM (CT)
GENEVA (AP) - The European Union advised the World Trade Organization on Tuesday that it would reintroduce trade sanctions against the United States in two months unless Washington complies with a WTO ruling condemning tax breaks for U.S. companies operating overseas.
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Survey: 30 pct. of companies to hire more
Mar 14 2006 7:54AM (CT)
MILWAUKEE (AP) - Thirty percent of U.S. companies intend to increase staffing levels in the second quarter this year, according to a survey of 16,000 employers prepared for release Tuesday.
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S. Korea requests consultations with Japan
Mar 14 2006 6:36AM (CT)
SEOUL, South Korea (AP) - South Korea said Tuesday it had sought consultations with Japan over a dispute about computer chip tariffs, the first step in possibly bringing the case to the World Trade Organization for settlement.
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China's legislature endorses economic plan
Mar 14 2006 4:43AM (CT)
BEIJING (AP) - China's ceremonial legislature on Tuesday endorsed a government plan calling for lower-than-expected 8 percent economic growth in 2006, while Premier Wen Jiabao rebuffed speculation over further currency adjustments.
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Former Livedoor president, execs charged
Mar 14 2006 4:27AM (CT)
TOKYO (AP) - The former president of disgraced Internet company Livedoor, four other executives and the company itself were charged Tuesday with falsifying financial reports, prosecutors said.
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North Fork execs may get $288M in deal
Mar 14 2006 2:07AM (CT)
NEW YORK (AP) - The top three executives at North Fork Bancorp. Inc. would receive at least $288 million from the regional bank's $14.6 billion acquisition by Capital One Financial Corp., including almost $185 million for the chief executive.
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TiVo to offer KidZone feature
Mar 14 2006 1:32AM (CT)
SAN JOSE, Calif. (AP) - Thanks to digital video recorders, a new generation of children will grow up accustomed to getting television when they want it. Now, TiVo Inc. is making it easier for parents to make sure at least some of those shows are educational.
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N.Y. Times to scrap weekday stock tables
Mar 14 2006 1:17AM (CT)
NEW YORK (AP) - The New York Times will replace the six pages of stock tables it prints Tuesdays through Saturdays with daily spreads of graphics and charts containing financial information.
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