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Chavez: China to become a top oil client
Mar 23 2007 10:42PM (CT)
CARACAS, Venezuela (AP) - President Hugo Chavez said China is set to rival the United States as Venezuela's top oil buyer as he announced new plans with the Asian powerhouse to jointly ship oil, build refineries and expand crude production.
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Report: Zell offer $33/share for Tribune
Mar 23 2007 7:35PM (CT)
LOS ANGELES (AP) - Billionaire investor Sam Zell has presented a $33 per share proposal for Tribune Co., according to a published report.
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Report: Zell offer $33/share for Tribune
Mar 23 2007 7:35PM (CT)
LOS ANGELES (AP) - Billionaire investor Sam Zell has presented a $33 per share proposal for Tribune Co., according to a published report.
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Morgan Stanley to spin off Discover
Mar 23 2007 6:15PM (CT)
NEW YORK (AP) - Morgan Stanley announced Friday its long-expected plans to spin off its Discover operation, saying it would distribute shares in the fourth-largest debit and credit card network to the investment bank's shareholders. Morgan Stanley had announced Dec. 19, when it released its fourth-quarter results, that it would spin off Discover sometime in the next year. The move comes as rival Visa International plans to go public in 2007, following in the footsteps of Mastercard Inc.'s flotat
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GM CEO Rick Wagoner gets stock bonuses
Mar 23 2007 5:28PM (CT)
DETROIT (AP) - General Motors Corp. Chief Executive Rick Wagoner and several senior company executives have received performance-based stock awards, according to documents filed with federal regulators.
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Freddie Mac has slight profit increase
Mar 23 2007 5:24PM (CT)
WASHINGTON (AP) - Rising foreclosures slightly dented the quality of Freddie Mac's holdings last year, the mortgage finance giant said Friday as it reported a slight increase in profit to $2.2 billion. Freddie Mac's chief executive foresees some degree of economic contagion in the future from the turmoil in the high-risk mortgage market.
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DaimlerChrysler shares gain on bid talk
Mar 23 2007 5:21PM (CT)
DETROIT (AP) - Shares of DaimlerChrysler AG pushed to a new 52-week high on Friday as speculation swirled that a Canadian auto supplier and a private equity partner would bid for Chrysler, the German company's ailing U.S. arm.
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Existing home sales rise 3.9 percent
Mar 23 2007 5:19PM (CT)
WASHINGTON (AP) - Sales of existing homes rose in February by the largest amount in nearly three years, but worsening troubles in subprime mortgages were viewed as a roadblock to a full-fledged rebound. The National Association of Realtors reported Friday that existing home sales climbed 3.9 percent last month, pushed up by a milder-than-normal winter that boosted sales in areas of the country such as the Northeast.
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Judge rules against Vonage on patents
Mar 23 2007 5:16PM (CT)
ALEXANDRIA, Va. (AP) - A federal judge on Friday ordered a permanent injunction against Internet phone carrier Vonage for use of rival Verizon Communications Inc.'s patents. But the injunction, which could potentially cause major disruptions to the service provided by Vonage to its 2 million customers, will not take effect for at least two weeks. U.S. District Judge Claude Hilton said he will wait two weeks to officially enter the injunction while he considers Vonage's request for an extended st
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Cablevision loses suit on network DVRs
Mar 23 2007 3:59PM (CT)
NEW YORK (AP) - Cablevision Systems lost a suit filed by Hollywood studios who claimed that the cable company's next-generation digital video recording device would have broken copyright laws.
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GE offers $1.14B for Sanyo Electric unit
Mar 23 2007 3:45PM (CT)
TOKYO (AP) - General Electric Co. plans to launch a tender offer next week worth up to $1.14 billion for all shares of the financial unit of Japanese electronics maker Sanyo Electric Co., the diversified U.S. industrial, financial services and media conglomerate said Friday.
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GE offers $1.14B for Sanyo Electric unit
Mar 23 2007 3:45PM (CT)
TOKYO (AP) - General Electric Co. plans to launch a tender offer next week worth up to $1.14 billion for all shares of the financial unit of Japanese electronics maker Sanyo Electric Co., the diversified U.S. industrial, financial services and media conglomerate said Friday.
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Oil prices climb above $62 a barrel
Mar 23 2007 2:40PM (CT)
NEW YORK (AP) - Oil prices jumped above $62 a barrel Friday and gasoline futures continued to surge as unrest in the Middle East and Nigeria helped vault front-month crude prices to their highest level since December.
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Oil prices climb above $62 a barrel
Mar 23 2007 2:40PM (CT)
NEW YORK (AP) - Oil prices jumped above $62 a barrel Friday and gasoline futures continued to surge as unrest in the Middle East and Nigeria helped vault front-month crude prices to their highest level since December.
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Stocks gain modestly on home sales data
Mar 23 2007 2:35PM (CT)
NEW YORK (AP) - Stocks tried to carve out modest gains Friday after a surprise jump in sales of existing homes last month lent strength to the growing notion that the housing sector may not be as weak as feared. Technology stocks lagged, however, following a handful of profit warnings this week.
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Stocks gain modestly on home sales data
Mar 23 2007 2:35PM (CT)
NEW YORK (AP) - Stocks tried to carve out modest gains Friday after a surprise jump in sales of existing homes last month lent strength to the growing notion that the housing sector may not be as weak as feared. Technology stocks lagged, however, following a handful of profit warnings this week.
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Vote on `.xxx' Internet address nears
Mar 23 2007 1:46PM (CT)
NEW YORK (AP) - Online pornographers and religious groups are in a rare alliance as a key Internet oversight agency nears a decision on creating a virtual red-light district through a ".xxx" Internet address.
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Vote on `.xxx' Internet address nears
Mar 23 2007 1:46PM (CT)
NEW YORK (AP) - Online pornographers and religious groups are in a rare alliance as a key Internet oversight agency nears a decision on creating a virtual red-light district through a ".xxx" Internet address.
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Rat poison found in tainted pet food
Mar 23 2007 1:34PM (CT)
ALBANY, N.Y. (AP) - Rat poison was found in the pet food suspected of causing kidney failure that killed at least 16 cats and dogs, but scientists still don't know how it got there, state officials said Friday.
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Rat poison found in tainted pet food
Mar 23 2007 1:34PM (CT)
ALBANY, N.Y. (AP) - Rat poison was found in the pet food suspected of causing kidney failure that killed at least 16 cats and dogs, but scientists still don't know how it got there, state officials said Friday.
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Rat poison found in tainted pet food
Mar 23 2007 1:34PM (CT)
ALBANY, N.Y. (AP) - Rat poison was found in the pet food suspected of causing kidney failure that killed at least 16 cats and dogs, but scientists still don't know how it got there, state officials said Friday.
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Rat poison found in tainted pet food
Mar 23 2007 1:34PM (CT)
ALBANY, N.Y. (AP) - Rat poison was found in the pet food suspected of causing kidney failure that killed at least 16 cats and dogs, but scientists still don't know how it got there, state officials said Friday.
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IMF: Global economy on track for growth
Mar 23 2007 11:35AM (CT)
WASHINGTON (AP) - The global economy is still on track for healthy growth despite the adverse impact on U.S. business prospects of a housing slump and skittishness about risky mortgages, the head of the International Monetary Fund said Friday.
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Treasury bond prices decline
Mar 23 2007 10:49AM (CT)
NEW YORK (AP) - The release of surprisingly strong figures for existing home sales in February wiped out early gains in Treasury bond prices on Friday, bringing prices just below the previous session's close.
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Asia Media to launch IPO in Japan
Mar 23 2007 9:30AM (CT)
TOKYO (AP) - Asia Media Co., a Beijing-based provider of TV program guides, will next month become the first company from mainland China to launch an intial public offering in Japan, officials said Friday.
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Asia Media to launch IPO in Japan
Mar 23 2007 9:30AM (CT)
TOKYO (AP) - Asia Media Co., a Beijing-based provider of TV program guides, will next month become the first company from mainland China to launch an intial public offering in Japan, officials said Friday.
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EU regulators pause Sony-BMG probe
Mar 23 2007 9:25AM (CT)
BRUSSELS, Belgium (AP) - EU regulators suspended an antitrust investigation into Sony Corp. and Bertelsmann AG's 2004 deal to merge their music units after the companies failed to turn over necessary data, the European Commission said Friday.
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EU regulators pause Sony-BMG probe
Mar 23 2007 9:25AM (CT)
BRUSSELS, Belgium (AP) - EU regulators suspended an antitrust investigation into Sony Corp. and Bertelsmann AG's 2004 deal to merge their music units after the companies failed to turn over necessary data, the European Commission said Friday.
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Calif. fines Blue Cross $1 million
Mar 23 2007 7:30AM (CT)
LOS ANGELES (AP) - State regulators fined California's largest health insurance provider $1 million for violating state law, saying an investigation found that the company systematically dropped policyholders after they became sick or pregnant, a newspaper reported Friday.
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Calif. fines Blue Cross $1 million
Mar 23 2007 7:30AM (CT)
LOS ANGELES (AP) - State regulators fined California's largest health insurance provider $1 million for violating state law, saying an investigation found that the company systematically dropped policyholders after they became sick or pregnant, a newspaper reported Friday.
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Calif. farm sues Taco Bell for libel
Mar 23 2007 4:22AM (CT)
SANTA ANA, Calif. (AP) - The Southern California farm that grew the green onions that were first linked to and then cleared in last year's E. coli outbreak has filed a libel lawsuit against Taco Bell Corp.
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Key stakeholder rejects bid for Qantas
Mar 23 2007 4:08AM (CT)
SYDNEY, Australia (AP) - A key stakeholder in Qantas Airways said Friday it would not accept a $8.9 billion bid for the airline, throwing into doubt one of Australia's biggest proposed takeovers. Qantas stock sank 3.1 percent on the news.
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Key stakeholder rejects bid for Qantas
Mar 23 2007 4:08AM (CT)
SYDNEY, Australia (AP) - A key stakeholder in Qantas Airways said Friday it would not accept a $8.9 billion bid for the airline, throwing into doubt one of Australia's biggest proposed takeovers. Qantas stock sank 3.1 percent on the news.
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Japanese stocks climb; dollar down
Mar 23 2007 4:07AM (CT)
TOKYO (AP) - Japanese stocks rose Friday for a fourth straight session, climbing to their highest in nearly a month, led by autos, banking and oil issues.
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Iowa livestock become targets of threats
Mar 23 2007 3:22AM (CT)
IOWA CITY, Iowa (AP) - A dozen of one farmer's cows have been gunned down since August. Another lost a 370-head hog nursery in a January fire investigators believe was intentionally set.
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Forum lets taxpayers turn tables on IRS
Mar 23 2007 3:18AM (CT)
OMAHA, Neb. (AP) - Taxpayers were given the chance to turn the tables on the Internal Revenue Service, responding to the agency's request for an audit of its services.
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Brazil's new forestry law draws praise
Mar 23 2007 3:12AM (CT)
RIO DE JANEIRO, Brazil (AP) - New rules that allow sustainable logging of national forests in the threatened Amazon drew guarded praise from both environmentalists and loggers.
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Feds seize $660,000 from ex-Ford manager
Mar 23 2007 1:23AM (CT)
MILWAUKEE (AP) - Federal prosecutors have forced a retired Ford Motor Co. manager to hand over nearly $660,000 he amassed in what they called a kickback scheme with trucking companies that generated millions over several years.
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Palm 3Q profit drops 61 pct. amid rumors
Mar 23 2007 12:11AM (CT)
SAN JOSE, Calif. (AP) - Lingering questions about Palm Inc.'s future did not get any clearer as the smart phone maker reported record Treo sales, a 61 percent drop in profits, and a lukewarm forecast.
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Palm 3Q profit drops 61 pct. amid rumors
Mar 23 2007 12:11AM (CT)
SAN JOSE, Calif. (AP) - Lingering questions about Palm Inc.'s future did not get any clearer as the smart phone maker reported record Treo sales, a 61 percent drop in profits, and a lukewarm forecast.
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Nike to change shopping experience
Mar 23 2007 12:07AM (CT)
PORTLAND, Ore. (AP) - Nike Inc. won't say where, how or when _ but it wants to change the way consumers shop. "Consumers want a more compelling and relevant experience wherever and whenever they shop," Nike President and Chief Executive Mark Parker said Thursday as the company released its third-quarter results and said it had a soft year with some specialty mall retailers.
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