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Drug sales in developing nations surge
Mar 21 2006 10:23PM (CT)
NEW YORK (AP) - Economic expansion in developing countries helped boost pharmaceutical sales in countries like China and Mexico to double-digit growth last year, outpacing sales in larger markets such as the U.S., Japan and Germany, according to a report released Tuesday.
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McClatchy: Bloc of papers likely broken up
Mar 21 2006 10:05PM (CT)
PHILADELPHIA (AP) - The bloc of 12 newspapers being sold by the McClatchy Co. as part of its acquisition of Knight Ridder Inc. will likely be broken up and bought by several buyers, McClatchy said Tuesday.
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Head of Repsol Bolivian subsidiary resigns
Mar 21 2006 10:04PM (CT)
LA PAZ, Bolivia (AP) - The president of Spanish-Argentine energy company Repsol YPF's Bolivian subsidiary resigned Tuesday amid an investigation into allegations that it smuggled oil out of the country.
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Cos. may find relief after Quattrone case
Mar 21 2006 9:00PM (CT)
NEW YORK (AP) - Thanks to an appeals court, Internet stock king Frank Quattrone gets a new trial and tens of thousands of businesses around the country might have to worry less about the paperwork they trash.
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Japanese stocks lower; Dollar slips
Mar 21 2006 8:47PM (CT)
TOKYO (AP) - Japan's benchmark Nikkei stock index opened lower Wednesday on selling in securities house and pharmaceutical issues. The dollar slipped against the yen and euro.
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Glisan: Defendants knew about Enron woes
Mar 21 2006 8:29PM (CT)
HOUSTON (AP) - The only former Enron executive to go straight to prison after pleading guilty to a crime testified Tuesday that former company chiefs Kenneth Lay and Jeffrey Skilling lied about Enron's strength in 2001 when it was failing.
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Judge OKs Fruit of the Loom settlements
Mar 21 2006 7:41PM (CT)
LOUISVILLE, Ky. (AP) - A federal judge has approved two class-action settlements totaling $42 million against Fruit of the Loom Inc.
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Calif. to get $50M in Ameriquest case
Mar 21 2006 7:40PM (CT)
LOS ANGELES (AP) - The parent of Ameriquest Mortgage Co. will pay up to $50 million in restitution for California borrowers as part of a settlement brokered with state attorneys general over claims of deceptive lending practices, a prosecutor said Tuesday.
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Companies to settle patent challenge
Mar 21 2006 7:22PM (CT)
NEW YORK (AP) - Shares of Bristol-Myers Squibb Co. rose nearly 10 percent in after-hours trading on Tuesday after it and partner Sanofi-Aventis SA agreed to settle a patent challenge to the blood thinning drug Plavix.
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Glisan dons suit and tie for Enron trial
Mar 21 2006 7:17PM (CT)
HOUSTON (AP) - Ben Glisan Jr.'s appearance as the government's last major witness against former Enron Corp. chiefs Kenneth Lay and Jeffrey Skilling wasn't his debut as a prosecution witness. But he was better dressed.
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Nike 3Q earnings beat Wall Street views
Mar 21 2006 7:07PM (CT)
BEAVERTON, Ore. (AP) - Nike Inc. said Tuesday profit jumped 19 percent to almost $326 million in its third quarter to easily beat Wall Street estimates as the world's largest manufacturer of athletic shoes and clothing began operating under its new chief executive, Mark Parker.
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Corning develops heavy metal-free glass
Mar 21 2006 6:51PM (CT)
ROCHESTER, N.Y. (AP) - A heavy metal-free glass developed by Corning Inc. will trim production and recycling costs at a time when prices for the super-thin screens used in liquid-crystal-display televisions are falling more sharply than ever.
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Bernanke questions companies owning banks
Mar 21 2006 6:48PM (CT)
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke is raising concerns about a legal provision that lets companies own a certain kind of bank, including one Wal-Mart Stores Inc. wants to operate in Utah.
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Panel: Guidant system relied on engineers
Mar 21 2006 6:36PM (CT)
INDIANAPOLIS (AP) - Guidant Corp.'s series of recalls and warnings last year arose from its long-standing policy of relying on engineers, not doctors, to assess whether flaws in its heart devices posed a safety threat to patients, a review found.
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Verizon files complaint on Cablevision
Mar 21 2006 6:29PM (CT)
NEW YORK (AP) - Verizon Communications Tuesday said it filed a complaint with the Federal Communications Commission against Cablevision Systems Corp., alleging the cable company employed anti-competitive practices in negotiations relating to sports programming.
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Bonds decline after Bernanke speech
Mar 21 2006 6:28PM (CT)
NEW YORK (AP) - Bonds slipped Tuesday, after a speech by Federal Reserve Chairman Ben Bernanke Monday night played down the broader economic importance of the yield curve for monetary policy makers.
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NitroMed execs quit without explanation
Mar 21 2006 5:56PM (CT)
BOSTON (AP) - Two top executives of NitroMed Inc., which won federal regulators' first clearance for a drug approved for use in a specific racial group, resigned Tuesday without explanation from the small drug company.
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Delta pilots begin new round of picketing
Mar 21 2006 5:46PM (CT)
WASHINGTON (AP) - Delta Air Lines Inc. is in better competitive shape than its executives portray and has performed so well recently that it doesn't need any of the $325 million or so in cuts it is seeking from its pilots, the pilots union sought to show Tuesday.
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Oil prices steady amid Nigeria worries
Mar 21 2006 5:45PM (CT)
WASHINGTON (AP) - Crude oil prices steadied Tuesday as traders weighed expectations of further U.S. oil inventory increases against anxieties over recent supply disruptions in Nigeria and the impact of international pressure on Iran over its nuclear program.
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Time to pay to end probes by 23 states
Mar 21 2006 5:31PM (CT)
HARRISBURG, Pa. (AP) - The publisher of Time magazine has agreed to pay nearly $4.5 million to end investigations by 23 states into whether it deceptively marketed and billed people for subscription renewals, Pennsylvania's attorney general said Tuesday.
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Merck: Vioxx not cause of heart attacks
Mar 21 2006 5:28PM (CT)
ATLANTIC CITY, N.J. (AP) - After two weeks on the defensive, Merck & Co. began presenting its side of the Vioxx story to a jury Tuesday, hoping to show that the popular arthritis drug was thoroughly tested before being sold and didn't cause the heart attacks suffered by two New Jersey men.
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Jones Apparel considers possible sale
Mar 21 2006 5:22PM (CT)
NEW YORK (AP) - Jones Apparel Group Inc. said Tuesday its board is considering a possible sale of the entire clothing and accessories maker whose brands include Jones New York, Evan-Picone and Gloria Vanderbilt. Its shares soared more than 12 percent.
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Airline funds group to oppose expansion
Mar 21 2006 5:18PM (CT)
DALLAS (AP) - American Airlines is funding a new organization to oppose Southwest Airlines Co.'s campaign to ease flight restrictions at Dallas Love Field.
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Shell buys Canada heavy-oil land leases
Mar 21 2006 5:17PM (CT)
LONDON (AP) - A unit of energy company Royal Dutch Shell PLC Tuesday said it purchased leases to explore for heavy oil on 10 parcels of land in the Canadian province of Alberta for 465 million Canadian dollars, or about $400 million.
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Multimedia shares rise on news of deal
Mar 21 2006 5:06PM (CT)
NEW YORK (AP) - Shares of Multimedia Inc. climbed Tuesday, as Wall Street continued to digest Friday's news about a deal for Multimedia to operate bingo operations at 65 Mexican facilities now under construction.
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GM shares up amid talks with UAW, Delphi
Mar 21 2006 5:05PM (CT)
DETROIT (AP) - Shares of General Motors Corp. rose more than 5 percent Tuesday amid expectations that the company could soon announce a deal with the United Auto Workers that would help avert a strike at Delphi Corp., its key supplier and former subsidiary.
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Corus shares rise on merger talks report
Mar 21 2006 5:03PM (CT)
LONDON (AP) - Corus Group PLC shares rose more than 11 percent Tuesday on a report that the steelmaker has held talks about a possible merger with Evraz Group SA, Russia's largest steelmaker.
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Day traders charged with securities fraud
Mar 21 2006 5:01PM (CT)
NEW YORK (AP) - Several former and current officers, directors, and managers of a Manhattan day trading firm were charged Tuesday in a superseding indictment with participating in a "front-running" securities fraud scheme that generated more than $800,000 in illegal profits, prosecutors said.
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Bally shares advance on takeover report
Mar 21 2006 4:56PM (CT)
CHICAGO (AP) - Shares in Bally Total Fitness Holding Corp. soared to a nearly four-year high Tuesday following a published report that Britain's Virgin Group is considering a takeover of the health-club operator.
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Prince to succeed Weill as Citigroup chair
Mar 21 2006 4:54PM (CT)
NEW YORK (AP) - Citigroup Inc.'s board on Tuesday announced that it has selected Chief Executive Officer Charles Prince to succeed Sanford I. Weill as chairman when he retires April 18 at the annual meeting of the nation's largest financial institution.
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Nike 3Q earnings beat Wall Street views
Mar 21 2006 4:51PM (CT)
BEAVERTON, Ore. (AP) - Nike Inc. on Tuesday reported third-quarter profit rose 19.2 percent as the world's top athletic shoe maker realized strong sales in its core U.S. market.
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Tuesday's commodities roundup
Mar 21 2006 4:48PM (CT)
NEW YORK (AP) - Silver climbed to a new 19-year high Tuesday on news that a much anticipated silver exchange traded fund was partially approved by the U.S. Securities and Exchange Commission.
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Colgate-Palmolive to buy Tom's of Maine
Mar 21 2006 4:47PM (CT)
PORTLAND, Maine (AP) - Colgate-Palmolive Co. announced Tuesday it's buying Tom's of Maine, the leading maker of natural toothpaste, which used to tweak big toothpaste makers for putting artificial additives like saccharin in their products.
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Movie Gallery shares decline 8.1 percent
Mar 21 2006 4:29PM (CT)
NEW YORK (AP) - Movie Gallery Inc. shares dropped Tuesday after the video-rental company said it will delay filing its annual report with the Securities and Exchange Commission and post a loss for 2005.
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Geico under fire for pricing practice
Mar 21 2006 4:20PM (CT)
CHICAGO (AP) - Berkshire Hathaway Inc.'s Geico Corp. insurance unit has come under attack by a consumer advocacy group and competitor for a pricing practice the opponents feel can shortchange less profitable customers, including minorities and blue-collar workers.
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Reports: 2 raiders seek to split Vivendi
Mar 21 2006 4:18PM (CT)
PARIS (AP) - Two corporate raiders are building stakes in Vivendi Universal SA to try to break up the conglomerate and force management to choose between its telecommunications and media assets, according to media reports.
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H&R Block encounters woes during makeover
Mar 21 2006 3:52PM (CT)
KANSAS CITY, Mo. (AP) - The $250 million lawsuit accusing H&R Block Inc. of fraudulent marketing of its retirement accounts shows the perils the company faces as it continues to remake itself into something besides just the place to go every winter with your W-2.
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Companies enter home air-cleaning market
Mar 21 2006 3:46PM (CT)
DALLAS (AP) - Nicholas Garzon has such trouble with asthma and allergies that the 13-year-old's mother gave him an over-the-counter antihistamine each night to help him sleep. Gina Garzon had removed all carpeting from her home in Miami, covered the mattresses and tried portable air cleaners, with little apparent benefit.
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Russia said wants to be EU energy partner
Mar 21 2006 3:35PM (CT)
BRUSSELS, Belgium (AP) - Russia wants to show that it can be a "credible, stable and reliable" energy partner for the European Union and is ready to start negotiations that could lead to a formal pact, European Commission President Jose Manuel Barroso said Tuesday.
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Court halts Gas Natural bid for Endesa
Mar 21 2006 3:20PM (CT)
MADRID, Spain (AP) - A Spanish court said Tuesday it has suspended the hostile $26.7 billion bid launched by Spain's Gas Natural for power utility Endesa on grounds that it could violate European Union competition regulations.
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Monkeys, humans fall ill from trial drug
Mar 21 2006 3:01PM (CT)
LONDON (AP) - The experimental drug that caused convulsions and organ failure in the first humans it was tested on only left monkeys with swollen glands, and there was nothing to predict the disastrous effects on people, the drug company's chief scientist said Tuesday.
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Six OfficeMax directors to leave in April
Mar 21 2006 3:00PM (CT)
NEW YORK (AP) - OfficeMax Inc. will be saying goodbye to half its board of directors at its annual meeting April 20, according to the company's proxy statement, filed Tuesday with the Securities and Exchange Commission.
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UK consumer prices rise 2.0 pct. in Feb.
Mar 21 2006 2:59PM (CT)
LONDON (AP) - Consumer prices rose 2.0 percent in the United Kingdom in February compared with a year earlier, up from 1.9 percent growth in January, the government said Tuesday.
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Hispanic-owned businesses growing quickly
Mar 21 2006 2:41PM (CT)
WASHINGTON (AP) - Fueled by a rapidly expanding Hispanic consumer market, the number of Hispanic-owned businesses is growing much faster than the national rate for other companies.
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Aviva not ruling out higher Prudential bid
Mar 21 2006 2:39PM (CT)
LONDON (AP) - Aviva PLC, Britain's largest insurance company, said Tuesday it is not ruling out increasing its offer of 17 billion pounds ($30 billion) for Prudential PLC.
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Italian co. designs jeans for Muslims
Mar 21 2006 2:06PM (CT)
ROME (AP) - They're high around the waist, wide around the leg and have lots of pockets for holding watches, bracelets, glasses and other knickknacks.
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Verizon to donate on retirements or death
Mar 21 2006 1:41PM (CT)
NEW YORK (AP) - Most Verizon Communications Inc. directors will send a gift either when they retire from the telecom company's board or when they die: The company will make a total of $8.5 million in donations to the charities of their choice.
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Firms rescue jewelers from bankruptcy
Mar 21 2006 1:27PM (CT)
LONDON (AP) - Royal jewelers Asprey & Garrard, suppliers of gems to the rich and famous for more than 200 years, have been rescued from bankruptcy by U.S. firms including billionaire investor Ron Burkle's company.
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Nymex ends after hours trade early
Mar 21 2006 12:33PM (CT)
NEW YORK (AP) - The New York Mercantile Exchange said Tuesday a back-office issue forced the world's top energy marketplace to end after-hours trading several minutes early.
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CBOT shares rise after membership sale
Mar 21 2006 12:08PM (CT)
CHICAGO (AP) - Chicago Board of Trade stock rose Tuesday, a day after a full membership at the exchange sold for a record $3.105 million.
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French lawmakers OK bill on iTunes, iPods
Mar 21 2006 11:58AM (CT)
PARIS (AP) - French lawmakers approved an online copyright bill Tuesday that would require Apple to break open the exclusive format behind its market-leading iTunes music store and iPod players.
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Brazil probes European, Japanese companies
Mar 21 2006 11:53AM (CT)
SAO PAULO, Brazil (AP) - Brazil is investigating seven large European and Japanese companies to determine whether they violated antitrust laws in a bid to fix prices for equipment used to generate electricity in the country.
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Pepsi sues Coke over Powerade ad
Mar 21 2006 11:43AM (CT)
CHICAGO (AP) - Pepsi is taking on Coke in federal court, but this time it's a power struggle rather than a cola war. PepsiCo Inc.'s Gatorade beverage business filed a lawsuit Monday in U.S. District Court against Coca-Cola Co.'s Powerade unit to stop an ad campaign that it claims is false and deceptive.
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EU's Barroso urges less nationalism
Mar 21 2006 11:23AM (CT)
BRUSSELS, Belgium (AP) - European Commission President Jose Manuel Barroso called on EU leaders Tuesday to avoid nationalist, protectionist policies, ahead of a summit this week meant to forge agreement to set out a single energy policy for the bloc.
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Chairman of Rogers Communications resigns
Mar 21 2006 11:13AM (CT)
TORONTO (AP) - Rogers Communications Inc., Canada's largest provider of cable TV and wireless communications services, said Tuesday that Garfield Emerson is resigning as its chairman and as a longtime member of its board.
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$2.68M spent on Charles Schwab's security
Mar 21 2006 11:09AM (CT)
NEW YORK (AP) - Charles R. Schwab, chairman and chief executive officer of brokerage firm The Charles Schwab Corp, is protected by the company _ literally.
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U.S. lawmakers to press China on currency
Mar 21 2006 10:43AM (CT)
BEIJING (AP) - Two U.S. senators who are proposing possible trade sanctions on Beijing said Tuesday they hope for progress toward easing China's controversial exchange-rate controls in talks this week with Chinese officials.
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Ex-CEO of China Aviation Oil sentenced
Mar 21 2006 9:34AM (CT)
SINGAPORE (AP) - The former chief executive of China Aviation Oil (Singapore) Ltd. was sentenced to four years and three months in jail and fined 335,000 Singapore dollars ($207,150) on Tuesday for his role in the Beijing-backed jet fuel trader's near-collapse in 2004.
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EU OKs acquisition of Formula One series
Mar 21 2006 9:22AM (CT)
BRUSSELS, Belgium (AP) - European Union antitrust regulators cleared the acquisition of the Formula One Group racing series by CVC Capital Partners Ltd. on Tuesday, provided the British investment group divests its Spanish subsidiary Dorna.
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Putin commits to gas supplies for China
Mar 21 2006 9:17AM (CT)
BEIJING (AP) - Russian President Vladimir Putin announced plans Tuesday to step up energy supplies to China with a gas pipeline opening within five years, but there was no word of an agreement to build a separate pipeline sought by Beijing to deliver Siberian oil to China.
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Deutsche Telekom links with Microsoft
Mar 21 2006 8:37AM (CT)
FRANKFURT, Germany (AP) - Deutsche Telekom AG said Tuesday it has formed an alliance with Microsoft Corp. to offer Internet television services to subscribers in Germany this year.
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Nissan Motor to sell Nissan Diesel stake
Mar 21 2006 7:46AM (CT)
TOKYO (AP) - Nissan Motor Co. will sell 13 percent of Nissan Diesel to Swedish truck-maker Volvo AB for 1.5 billion Swedish kronor, or $196 million, the two companies said Tuesday.
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Schering board member steps down
Mar 21 2006 7:40AM (CT)
BERLIN (AP) - Schering AG, which is trying to fend off a takeover bid from fellow German drugmaker Merck KGaA, said Tuesday a member of its supervisory board has stepped down to avoid a conflict of interest.
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Suez, GDF hold 'indirect' talks with Enel
Mar 21 2006 7:37AM (CT)
PARIS (AP) - Suez SA and Gaz de France SA held "indirect" talks with Italy's Enel SpA after they announced a government-backed deal to combine the French utility companies last month, but the discussions have ended, Suez said Tuesday.
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Thales: Exec arrested by S. Korean police
Mar 21 2006 7:32AM (CT)
PARIS (AP) - French defense electronics company Thales SA said Tuesday its main representative in Seoul has been arrested by South Korean police for allegedly holding confidential defense-related information.
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Ind. court refuses to hear Conseco founder
Mar 21 2006 7:20AM (CT)
INDIANAPOLIS (AP) - The Indiana Supreme Court refused to hear Conseco Inc. founder Stephen Hilbert's appeal of a judge's order that he repay the insurance company more than $80 million in stock loans.
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Investors dubious of Oracle takeover spree
Mar 21 2006 7:11AM (CT)
SAN FRANCISCO (AP) - After pouring nearly $20 billion into a recent takeover spree, Oracle Corp. is having trouble convincing investors the money has been well spent.
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Farm groups urged to voice labor needs
Mar 21 2006 5:25AM (CT)
MOSES LAKE, Wash. (AP) - Farmers and farm groups need to speak up soon about their labor needs before Congress enacts sweeping immigration reform, U.S. Sen. Patty Murray said at a round table of agricultural interests.
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Gas prices rise above $2.50 a gallon
Mar 21 2006 4:24AM (CT)
WASHINGTON (AP) - The average retail price of gasoline soared by almost 14 cents last week, rising above $2.50 a gallon for the first time since late October.
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