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Prosecutors: Former Qwest CEO a cheater
Mar 20 2007 11:55PM (CT)
DENVER (AP) - Former Qwest Communications CEO Joe Nacchio, a firm believer in the telephone company's future, was reluctant to sell shares in early 2001 and asked the board for an extension but was turned down, his attorney says.
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Prosecutors: Former Qwest CEO a cheater
Mar 20 2007 11:55PM (CT)
DENVER (AP) - Former Qwest Communications CEO Joe Nacchio, a firm believer in the telephone company's future, was reluctant to sell shares in early 2001 and asked the board for an extension but was turned down, his attorney says.
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Oracle's fiscal 3Q earnings up 35 pct.
Mar 20 2007 11:50PM (CT)
SAN FRANCISCO (AP) - Business software maker Oracle Corp. has a tough act to follow as it tackles the biggest quarter of its fiscal year.
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Adobe execs raise profit guidance
Mar 20 2007 11:47PM (CT)
SAN FRANCISCO (AP) - Adobe Systems Inc. executives are raising profit guidance after the company easily exceeded Wall Street expectations with a 37 percent surge in first-quarter profit.
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Probe of fatal blast cites lax oversight
Mar 20 2007 10:22PM (CT)
HOUSTON (AP) - The U.S. agency responsible for worker safety failed to inspect plants with enough care and frequency to prevent an accident like the 2005 explosion at BP's Texas City refinery that killed 15 people and injured 170, the worst U.S. industrial accident since 1990, a government report said Tuesday.
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Affiliated Computer gets $5.93B offer
Mar 20 2007 9:50PM (CT)
DALLAS (AP) - An investment group that includes the founder and chairman of Affiliated Computer Services is offering $5.93 billion in cash to take the information technology services company private.
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Global pharmaceutical sales up 7 pct.
Mar 20 2007 8:38PM (CT)
NEW YORK (AP) - Global pharmaceutical sales rose 7 percent to $643 billion last year, fueled by strong international demand for cancer treatments and robust growth in the U.S. market spurred by the Medicare drug benefit, a report released Tuesday said.
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Media baron ripped as corporate swindler
Mar 20 2007 6:35PM (CT)
CHICAGO (AP) - Former media baron Conrad Black's racketeering trial got under way Tuesday with a federal prosecutor calling him a corporate swindler who stole millions of dollars and his attorney ripping into the government's star witness as a liar.
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Media baron ripped as corporate swindler
Mar 20 2007 6:35PM (CT)
CHICAGO (AP) - Former media baron Conrad Black's racketeering trial got under way Tuesday with a federal prosecutor calling him a corporate swindler who stole millions of dollars and his attorney ripping into the government's star witness as a liar.
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Media baron ripped as corporate swindler
Mar 20 2007 6:35PM (CT)
CHICAGO (AP) - Former media baron Conrad Black's racketeering trial got under way Tuesday with a federal prosecutor calling him a corporate swindler who stole millions of dollars and his attorney ripping into the government's star witness as a liar.
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Media baron ripped as corporate swindler
Mar 20 2007 6:35PM (CT)
CHICAGO (AP) - Former media baron Conrad Black's racketeering trial got under way Tuesday with a federal prosecutor calling him a corporate swindler who stole millions of dollars and his attorney ripping into the government's star witness as a liar.
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Media baron ripped as corporate swindler
Mar 20 2007 6:35PM (CT)
CHICAGO (AP) - Former media baron Conrad Black's racketeering trial got under way Tuesday with a federal prosecutor calling him a corporate swindler who stole millions of dollars and his attorney ripping into the government's star witness as a liar.
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Media baron ripped as corporate swindler
Mar 20 2007 6:35PM (CT)
CHICAGO (AP) - Former media baron Conrad Black's racketeering trial got under way Tuesday with a federal prosecutor calling him a corporate swindler who stole millions of dollars and his attorney ripping into the government's star witness as a liar.
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Media baron ripped as corporate swindler
Mar 20 2007 6:35PM (CT)
CHICAGO (AP) - Former media baron Conrad Black's racketeering trial got under way Tuesday with a federal prosecutor calling him a corporate swindler who stole millions of dollars and his attorney ripping into the government's star witness as a liar.
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Revised Virgin plan gets tentative OK
Mar 20 2007 6:35PM (CT)
WASHINGTON (AP) - The Transportation Department on Tuesday removed a barrier to Virgin America's plans to start a U.S. airline, voicing support for its plan to comply with laws limiting foreign control of a domestic carrier.
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Home construction rebounds in February
Mar 20 2007 6:34PM (CT)
WASHINGTON (AP) - New home construction rebounded in February following a steep January slide. But analysts pointed to a further decline in building permits as a worrisome signal of future problems for the troubled housing industry.
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Apollo taking Claire's private for $3.1B
Mar 20 2007 6:33PM (CT)
MIAMI (AP) - Claire's Stores Inc. agreed to a $3.1 billion takeover proposal from New York-based private equity firm Apollo Management LP, the costume jewelry retailer said Tuesday.
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Blockbuster CEO to leave by end of year
Mar 20 2007 6:33PM (CT)
SAN ANTONIO (AP) - The chairman and chief executive of struggling movie-rental company Blockbuster Inc. got the company's board to give him a slightly bigger bonus for 2006, but not without agreeing to give up his job. John Antioco, who has been the CEO for nearly a decade, will leave the company by the end of the year, Blockbuster announced Tuesday.
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Oil prices finish up in light trading
Mar 20 2007 3:27PM (CT)
NEW YORK (AP) - Crude oil prices ended higher Tuesday in light trading ahead of the weekly inventory report. Gasoline futures briefly jumped to a more than six-month high on expectations of summer driving demand and refinery disruptions, but later gave back its gains.
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Fannie Mae ends deal with New Century
Mar 20 2007 2:20PM (CT)
LOS ANGELES (AP) - Fannie Mae will no longer allow New Century Financial Corp. to sell mortgage loans to the U.S. government-sponsored company, alleging the troubled lender has breached the terms of its contracts, New Century said Tuesday.
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Death toll tops 100 in Russia coal mine
Mar 20 2007 1:51PM (CT)
NOVOKUZNETSK, Russia (AP) - Rescuers pulled more bodies from a Siberian coal mine Tuesday as investigators tried to pinpoint what sparked a methane gas explosion that killed 105 miners in Russia's deadliest mining disaster in a decade.
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Fed expected to maintain current rates
Mar 20 2007 1:41PM (CT)
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke and his colleagues are expected to strike a reassuring tone about the country's economic health Wednesday despite persistent worries that problems with risky mortgages could spread.
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Halliburton lowers 1Q earnings outlook
Mar 20 2007 12:59PM (CT)
HOUSTON (AP) - Oil services firm Halliburton Co. on Tuesday said it expects first-quarter earnings below Wall Street estimates as its energy services group struggles with decreased drilling and completion activities in Canada and the northern United States.
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ABN, Barclays shares rise
Mar 20 2007 12:53PM (CT)
AMSTERDAM, Netherlands (AP) - Shares in ABN Amro Holding NV and Barclays PLC rose Tuesday, as investors applauded the idea of a potential combination of the two banks _ or bet that their talks will falter and each may eventually be bought by someone else.
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Misunderstanding blamed in car seat story
Mar 20 2007 11:54AM (CT)
WHITE PLAINS, N.Y. (AP) - Consultants hired by Consumer Reports to investigate how it botched a story about infant car seats concluded Tuesday that a major misunderstanding between the magazine and the lab that conducted the test resulted in the error.
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Treasury prices rise after housing report
Mar 20 2007 10:58AM (CT)
NEW YORK (AP) - U.S. Treasury prices were higher Tuesday morning following a mixed housing report and ahead of this week's Federal Reserve meeting.
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Lear board backs Icahn-led buyout
Mar 20 2007 10:40AM (CT)
DETROIT (AP) - Lear Corp.'s board is recommending that shareholders of the auto parts supplier vote in favor of a buyout offer valued at about $2.8 billion from a group affiliated with billionaire investor Carl Icahn, according to a federal filing Tuesday.
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Mogul testifies in fund manager trial
Mar 20 2007 9:34AM (CT)
TOKYO (AP) - Takafumi Horie, who was convicted last week of securities laws violations, testified for the defense Tuesday in the trial of a prominent Japanese fund manger accused of insider trading, Japanese media reports said.
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China eases hold on foreign banks
Mar 20 2007 9:28AM (CT)
BEIJING (AP) - China on Tuesday approved four foreign banks to begin local currency services to individual Chinese customers, opening up access to the country's 30 trillion yuan ($4 trillion; 3 euros trillion) in household savings and surging demand for credit cards and other financial services.
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Ranbaxy reportedly drops buyout bid
Mar 20 2007 9:26AM (CT)
NEW DELHI (AP) - India's Ranbaxy Laboratories Ltd. has withdrawn its bid for the generic drug unit of German pharmaceutical company Merck KGaA because it was found to be overvalued, a person familiar with the deal said Tuesday.
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Dollar rises against euro in Europe
Mar 20 2007 6:16AM (CT)
BERLIN (AP) - The dollar edged up against the euro the Japanese yen on Tuesday as markets awaited this week's decision on interest rates by the U.S. Federal Reserve.
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BOJ leaves interest rates unchanged
Mar 20 2007 3:32AM (CT)
TOKYO (AP) - The Bank of Japan held its benchmark interest rate steady at 0.5 percent at the end of a two-day policy meeting Tuesday after lifting it a quarter point last month amid signs of continued economic growth.
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Md. legislators consider raw milk bill
Mar 20 2007 1:49AM (CT)
WESTMINSTER, Md. (AP) - It may look just like milk at the grocery store, but dairy farmer Donald Dell says his product is superior.
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