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Japan stocks slip, dollar up against yen
Mar 27 2006 10:39PM (CT)
TOKYO (AP) - Japanese stocks fell Tuesday at midday, with shipping and utility companies among the losers. The dollar was higher against the yen.
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Apple CEO Jobs uses shares to pay taxes
Mar 27 2006 8:34PM (CT)
SAN JOSE, Calif. (AP) - Apple Computer Inc. chief executive Steve Jobs used almost half of his 10 million restricted shares that vested this month to pay for applicable taxes, according to a regulatory filing.
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Ex-Enron accountant, lawyer settle charges
Mar 27 2006 8:18PM (CT)
WASHINGTON (AP) - A former accountant and a former lawyer for Enron Corp. have been fined $30,000 each by federal regulators who accused them of fraud in a scheme to manipulate earnings of the fallen energy giant.
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Duke says may close Cinergy merger shortly
Mar 27 2006 8:14PM (CT)
CHARLOTTE, N.C. (AP) - Duke Energy Corp. will close its $9 billion acquisition of Cincinnati-based Cinergy Corp. on Saturday in a deal that will form one of the nation's largest public utilities, Duke Energy said Monday.
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Enron trial focuses on Skilling stock sale
Mar 27 2006 7:24PM (CT)
HOUSTON (AP) - Former Enron Corp. Chief Executive Jeffrey Skilling was among American shareholders who sold stock at their first opportunity days after the Sept. 11, 2001 terrorist attacks.
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TransMontaigne OKs SemGroup takeover bid
Mar 27 2006 6:56PM (CT)
NEW YORK (AP) - TransMontaigne Inc., an oil and gas distributor that last week received a takeover bid from Morgan Stanley Inc., on Monday said it has accepted a competing offer from privately held SemGroup LP.
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Brazil finance minister quits amid scandal
Mar 27 2006 6:47PM (CT)
SAO PAULO, Brazil (AP) - Finance Minister Antonio Palocci, the architect of Brazil's economic recovery and market-friendly fiscal policy, resigned Monday after becoming caught up in a political scandal.
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Gannett won't renew McCorkindale contract
Mar 27 2006 6:42PM (CT)
NEW YORK (AP) - Gannett Co., the largest newspaper publisher in the country, said in a regulatory filing Monday that its employment contract with its chairman, Douglas McCorkindale, would not be renewed this June.
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Sharper Image CEO to receive cut in pay
Mar 27 2006 6:32PM (CT)
SAN FRANCISCO (AP) - Sharper Image Corp. said Monday its chairman and chief executive, Richard Thalheimer, will receive a voluntary 50 percent pay cut, followed by salary reductions of other executives, as part of the company's efforts to slash expenses.
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Former KPMG tax partner pleads guilty
Mar 27 2006 6:29PM (CT)
NEW YORK (AP) - A former KPMG LLP tax partner pleaded guilty Monday, saying he helped wealthy investors dodge millions of dollars in taxes with fraudulent documents, sham companies and phony tax shelters.
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Delta wins OK for lower interest rate
Mar 27 2006 6:14PM (CT)
ATLANTA (AP) - Delta Air Lines Inc. said Monday that it has won approval for a lower interest rate from lenders of its $1.9 billion debtor-in-possession financing, saving the company $30 million a year.
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Agency finds Enron billing irregularities
Mar 27 2006 6:12PM (CT)
WASHINGTON (AP) - The turnaround expert who led Enron Corp. through its bankruptcy engaged in unacceptable billing practices and has agreed to cut in half the $25 million he has been seeking as a "success fee," the Justice Department said Monday.
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Ore. utility to cut Enron ties, go public
Mar 27 2006 6:07PM (CT)
PORTLAND, Ore. (AP) - Portland General Electric said Monday it will make its divorce from Enron Corp. final on April 3, which it becomes a publicly traded company.
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Fed OKs BB&T acquiring Main Street Banks
Mar 27 2006 6:05PM (CT)
WASHINGTON (AP) - The Federal Reserve cleared the way for BB&T Corp., the nation's ninth-largest bank, to acquire Main Street Banks Inc. of Atlanta for nearly $623 million.
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Cargo magazine to close after May issue
Mar 27 2006 6:04PM (CT)
NEW YORK (AP) - Cargo magazine, a shopping guide for men that was launched by Conde Nast Publications Inc. with much fanfare two years ago, is shutting down with its May issue, the publisher announced Monday.
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Analyst: Merck will manage Vioxx fallout
Mar 27 2006 5:58PM (CT)
NEW YORK (AP) - If the plaintiffs in the Vioxx case currently being tried in New Jersey win, the damage awards are likely to be modest and not affect Merck & Co's ability to manage the financial fallout from the thousands of lawsuits related to the painkiller, a Wall Street analyst wrote Monday.
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Trinad group offers to buy Majesco shares
Mar 27 2006 5:56PM (CT)
WASHINGTON (AP) - A shareholders group including Trinad Capital Master Fund Ltd. made an offer to Majesco Entertainment Co. to buy 2 million shares from the video-game maker at a price of $1.50 a share.
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Bonds slide as market awaits Fed meeting
Mar 27 2006 5:51PM (CT)
NEW YORK (AP) - Bonds slipped in light trading Monday, as traders and investors waited for the outcome of the Federal Reserve meeting that began Monday.
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Boeing to build longer version of 787
Mar 27 2006 5:31PM (CT)
SEATTLE (AP) - Boeing Co. has committed to building a longer version of its fuel-efficient 787 jet to meet demand from several airlines, the head of the new airplane program said Monday.
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Measure of returns sought on ad dollars
Mar 27 2006 5:19PM (CT)
NEW YORK (AP) - Major national advertisers are most concerned with measuring actual returns on the dollars they spend on advertising, according to a survey released Monday.
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GM to follow price plan despite sales drop
Mar 27 2006 5:17PM (CT)
DETROIT (AP) - General Motors Corp. expects its U.S. market share to continue to fall in the first quarter of this year due to aggressive competition, but said it won't reverse its strategy of lowering prices and relying less heavily on discounts, GM marketers said Monday.
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Nature's Sunshine shares fall 6.2 percent
Mar 27 2006 5:15PM (CT)
NEW YORK (AP) - Shares of Nature's Sunshine Products Inc. fell Monday after Nasdaq told the herbal-products maker it could be delisted for failing to file its annual report on time.
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KarstadtQuelle agrees to sell assets
Mar 27 2006 5:09PM (CT)
BERLIN (AP) - Struggling German retailer KarstadtQuelle AG on Monday agreed to sell all of its department store real estate assets in a deal worth 4.5 billion euros ($5.39 billion) that enables it to pay off all its debts.
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Schering board backs Bayer takeover offer
Mar 27 2006 5:05PM (CT)
BERLIN (AP) - The supervisory board of drugmaker Schering AG offered its backing Monday to fellow German company Bayer AG's 16.3 billion euro ($19.6 billion) offer for the company.
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Allergan sees 2006 sales of up to $2.95B
Mar 27 2006 5:03PM (CT)
LOS ANGELES (AP) - Botox-maker Allergan Inc. said Monday its 2006 sales would be between $2.81 billion and $2.95 billion, reflecting the biomedical company's recent acquisition of Inamed Corp.
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Kodak triples CEO's compensation in 2005
Mar 27 2006 5:01PM (CT)
ROCHESTER, N.Y. (AP) - Eastman Kodak Co. tripled Chief Executive Antonio Perez's compensation to $10.4 million last year as he took charge of the photography company during its difficult digital transition.
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BMC Software to buy Identify Software
Mar 27 2006 5:00PM (CT)
DALLAS (AP) - BMC Software Inc. said Monday it has agreed to buy diagnostic software maker Identify Software Ltd. for $150 million in cash.
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Monday's commodities roundup
Mar 27 2006 4:59PM (CT)
NEW YORK (AP) - Silver rose to a new 19-year high Monday, prompting a rise in other precious metals as buyers poured in amid anticipation of final approval for a silver exchange-traded fund.
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N.C. OKs Lincoln National acquiring rival
Mar 27 2006 4:59PM (CT)
PHILADELPHIA (AP) - North Carolina regulators approved Lincoln National Corp.'s $7.5 billion acquisition of rival insurance company Jefferson-Pilot Corp., the last major regulatory hurdle the deal faced.
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Alcatel board to review Lucent talks
Mar 27 2006 4:57PM (CT)
PARIS (AP) - Alcatel SA's board will meet Thursday to review the company's merger talks with U.S. rival Lucent Technologies Inc., the French telecom equipment maker said Monday.
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Sanofi-Aventis buys stake in Zentiva
Mar 27 2006 4:56PM (CT)
PARIS (AP) - Sanofi-Aventis SA, the world's third-largest pharmaceutical company, said Monday it bought a 25 percent stake in Czech drugmaker Zentiva for 430 million euros ($515 million).
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Walgreen earnings climb 7 percent in 2Q
Mar 27 2006 4:53PM (CT)
CHICAGO (AP) - Despite a mild flu season that kept many people out of doctors' offices and pharmacies, Walgreen Co. on Monday said its earnings rose 7 percent during the second quarter thanks to strong holiday merchandise sales.
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Comair seeks OK to toss out contracts
Mar 27 2006 4:41PM (CT)
NEW YORK (AP) - Comair Inc., a unit of Delta Air Lines Inc., on Monday asked a New York bankruptcy court to let it toss out contracts with its 970 flight attendants as part of an effort to cut $42 million in annual costs the regional carrier says it needs to climb out of bankruptcy.
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Austria trade union federation head quits
Mar 27 2006 4:31PM (CT)
VIENNA, Austria (AP) - The head of Austria's trade union federation stepped down Monday after revelations that he knew about the use of union funds to underwrite huge losses made by Bank Fuer Arbeit und Wirtschaft AG.
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Zurich American settles insurance probe
Mar 27 2006 4:29PM (CT)
ALBANY, N.Y. (AP) - Thousands of companies and governments nationwide that bought insurance through a broker expecting the lowest rates will share in the proceeds from a $153 million settlement of a bid-rigging scheme involving Zurich American Insurance Co.
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Rejected greeting card ideas hang in Mo.
Mar 27 2006 4:12PM (CT)
KANSAS CITY, Mo. (AP) - Some were sent away for being too profane, others for making snide comments at inopportune times. Now the greeting cards that never made it to the stores hang solemnly on a wall at Hallmark Cards Inc.
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Silver reaches new 19-year record
Mar 27 2006 3:56PM (CT)
NEW YORK (AP) - Silver hit a fresh 19-year high Monday on anticipation of a silver exchange-traded fund, driving an impressive rally in precious metals.
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Zurich settles insurance probe
Mar 27 2006 3:08PM (CT)
ALBANY, N.Y. (AP) - Thousands of companies and governments nationwide that bought insurance through a broker expecting the lowest rates will share in $88 million of restitution from Monday's settlement of a bid-rigging scheme involving Zurich American Insurance Co.
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Craft beer industry enjoys resurgence
Mar 27 2006 2:33PM (CT)
PORTLAND, Maine (AP) - Like most small breweries, Gritty McDuff's went through a lull as sales of craft beer leveled off in the late 1990s. Now Gritty's and the craft beer industry as a whole are enjoying a resurgence, with sales growing at their fastest pace in a decade.
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Former Raytheon CEO in tentative SEC deal
Mar 27 2006 2:11PM (CT)
WASHINGTON (AP) - The former chief executive of defense contractor Raytheon Co. has agreed to pay a civil fine and return part of his 2000 bonus in a tentative accord with federal regulators over alleged accounting violations at the company in 2000-2001.
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GM offer puts spotlight on worker buyouts
Mar 27 2006 2:02PM (CT)
WASHINGTON (AP) - What would you do if your boss offered you a wad of cash to quit? Take the dough and split or stay and live with the fear that you might be axed anyway?
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Bernanke gets his first crack at rates
Mar 27 2006 1:54PM (CT)
WASHINGTON (AP) - As Ben Bernanke takes the chairman's seat, Federal Reserve watchers wonder how many more interest rate increases are in store.
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Gutierrez calls on China to open markets
Mar 27 2006 1:32PM (CT)
CHONGQING, China (AP) - U.S. Commerce Secretary Carlos Gutierrez on Monday called on China to open its markets to foreign goods and settle currency disputes, warning it could face protectionist sentiment in the United States if its record trade surplus keeps growing.
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Buckeye Tech stock falls after outlook
Mar 27 2006 1:09PM (CT)
NEW YORK (AP) - Buckeye Technologies Inc. stock fell Monday in the first day of trading after the specialty fibers maker lowered its March quarter earnings outlook due to high energy bills and costs associated with a manufacturing plant upgrade.
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Venezuela willing to back off airline ban
Mar 27 2006 12:56PM (CT)
CARACAS, Venezuela (AP) - Venezuela said Monday it was willing to temporarily back off a March 30 ban on U.S. airlines as aviation officials discuss Caracas' demands that American authorities drop safety-based restrictions against its carriers.
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No result in latest German wage talks
Mar 27 2006 12:52PM (CT)
BERLIN (AP) - A third round of wage talks for German industrial workers ended Monday with no result, and the country's biggest industrial union threatened a round of warning walkouts later this week.
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Houston Wire & Cable files for IPO
Mar 27 2006 12:40PM (CT)
WASHINGTON (AP) - Houston Wire & Cable Co. has registered for an initial public offering of up to $112.7 million in common stock, according to a filing with the Securities and Exchange Commission.
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Infosys to set up new software center
Mar 27 2006 11:56AM (CT)
HYDERABAD, India (AP) - India's second-largest software exporter, Infosys Technologies Ltd., will set up a new software development center in the southern city of Hyderabad that will employ 25,000 people, the company said Monday.
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Suez asks EU to intervene in Enel dispute
Mar 27 2006 11:28AM (CT)
PARIS (AP) - France's Suez SA said Monday it has filed a complaint with European regulators against Enel SPA, the Italian power company that has said it is considering a bid for the Paris-based energy, waste and water utility.
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CHG Healthcare Services files for IPO
Mar 27 2006 11:24AM (CT)
WASHINGTON (AP) - CHG Healthcare Services Inc. registered Monday for an initial public offering of up to $115 million in common stock, according to a filing with the Securities and Exchange Commission.
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True Value ready to fight big-box rivals
Mar 27 2006 11:12AM (CT)
CHICAGO (AP) - True Value Co. CEO Lyle Heidemann spends a lot of his time shopping these days _ and that's a good thing for a chain that had lost its way in retail.
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Hyundai to build Czech Republic plant
Mar 27 2006 10:54AM (CT)
PRAGUE, Czech Republic (AP) - South Korea's Hyundai Motors Co. Ltd. said Monday it plans to invest up to 1 billion euros ($1.2 billion) in a manufacturing plant in the eastern Czech Republic.
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Dollar slips against euro, pound and yen
Mar 27 2006 10:45AM (CT)
BERLIN (AP) - The dollar slipped Monday against the euro and other major currencies as markets awaited a decision on interest rates by the U.S. Federal Reserve.
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Malaysia Airlines loses subsidies, routes
Mar 27 2006 10:20AM (CT)
KUALA LUMPUR, Malaysia (AP) - The government will end subsidies to flag carrier Malaysia Airlines and let it operate only 19 domestic routes _ in competition with budget carrier AirAsia _ under a major restructuring announced Monday that will shed thousands of jobs.
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Union to meet DaimlerChrysler bosses
Mar 27 2006 10:16AM (CT)
BERLIN (AP) - Union representatives said Monday they will meet this week with DaimlerChrysler AG management to try to ease the blow to workers who will be affected by the company's decision to stop producing the Smart ForFour model.
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Gas prices jump nearly 15 cents per gallon
Mar 27 2006 10:06AM (CT)
CAMARILLO, Calif. (AP) - Retail gas prices across the country climbed an average of nearly 15 cents in the past two weeks, according to a survey released Sunday.
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EU hopes for aviation pact with U.S.
Mar 27 2006 9:52AM (CT)
BRUSSELS, Belgium (AP) - The European Union hopes to get a preliminary "open skies" air services agreement with the United States in the first half of the year, its top transportation official said Monday.
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Cingular, union reach tentative agreement
Mar 27 2006 9:44AM (CT)
ATLANTA (AP) - Three hours before a threatened midnight strike, an agreement was reached Sunday night between Cingular Wireless and the union representing about 11,000 of its customer service employees in nine southeastern states.
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Ex-Kanebo execs sentenced for false info.
Mar 27 2006 8:54AM (CT)
TOKYO (AP) - A court sentenced two former executives of Japanese cosmetics maker Kanebo to suspended prison terms for falsifying financial statements, a court official said Monday.
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Syntax-Brillian to form joint LCD venture
Mar 27 2006 8:45AM (CT)
HONG KONG (AP) - Syntax-Brillian Corp., a U.S. maker of high-definition televisions, said Monday it signed an agreement with five Asian companies to create a joint venture that will produce liquid crystal display TVs in China.
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Japanese parliament passes FY06 budget
Mar 27 2006 8:33AM (CT)
TOKYO (AP) - Japan's parliament on Monday approved a 79.7 trillion yen ($678 billion) budget for the 2006 fiscal year that will cut spending by about 3 percent, slashing outlays in nearly all parts of government in a push for fiscal reform.
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Head of Hyundai unit detained in probe
Mar 27 2006 8:28AM (CT)
SEOUL, South Korea (AP) - Prosecutors on Monday detained the top executive of an affiliate of South Korea's largest automaker, Hyundai Motor Co., as they widened a probe into suspicions that the company used its subsidiaries to create slush funds to bribe government officials.
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UAW: Delphi makes latest proposal for cuts
Mar 27 2006 8:07AM (CT)
DETROIT (AP) - Delphi Corp. has delivered its latest proposal for cuts in wages and benefits to the United Auto Workers, which represents the majority of the auto-parts supplier's 34,000 hourly workers, the union said.
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KarstadtQuelle sells dept. store assets
Mar 27 2006 6:59AM (CT)
BERLIN (AP) - Struggling German retailer KarstadtQuelle AG on Monday sold all of its department store real estate assets in a euro4.5 billion ($5.39 billion) deal that it said wipes its slate clean of financial liabilities.
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Report: Kremlin envoy opposes new pipeline
Mar 27 2006 5:51AM (CT)
MOSCOW (AP) - The Kremlin's top representative in Siberia voiced opposition to the route of a planned oil pipeline that would run less than a kilometer ( 1/2-mile) from the world's largest freshwater body, the Vedomosti business daily reported Monday.
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Hog farm battle reaches northeast Missouri
Mar 27 2006 5:26AM (CT)
MARK TWAIN LAKE, Mo. (AP) - Dick Lawler says he won't surrender Mark Twain Lake, a recreation and drinking water resource for 21 communities in northeast Missouri, to a hog farm proposed nearby.
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Japanese shun U.S. beef, eat Australian
Mar 27 2006 5:10AM (CT)
TOKYO (AP) - Kenji Miyoda, savoring a bowl of rice topped with beef from Australia, raw egg and spicy sauce, believes Australian beef is far safer than American beef.
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With estate planning, plan for worst
Mar 27 2006 3:05AM (CT)
NEW YORK (AP) - For parents with children who are minors, it's important to prepare for worst-case scenarios when creating an estate plan. Some might say the thought of both parents dying or becoming incapacitated while their children are still young seems farfetched. But the recent death of Dana Reeve, not long after the death of her husband actor Christopher Reeve, leaving a 13-year-old son, highlighted the fact that these things can happen.
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Microsoft fights S.Korean antitrust ruling
Mar 27 2006 1:47AM (CT)
SEOUL, South Korea (AP) - Microsoft Corp. filed a lawsuit on Monday challenging a set of punitive measures that South Korea's antitrust regulators imposed on the U.S. software company for its alleged unfair business practices.
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Australia's stock exchanges plan merger
Mar 27 2006 1:28AM (CT)
SYDNEY, Australia (AP) - The Australian Stock Exchange announced Monday it plans to merge with the country's futures exchange group SFE Corp. in a move the companies said would create the world's ninth largest listed exchange group.
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Report: China's economic growth slows
Mar 27 2006 1:17AM (CT)
SHANGHAI, China (AP) - China's economy is expected to grow 8.9 percent in 2006, slowing from 9.9 percent last year, the central bank's research department said in a report published Monday.
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Life insurance offered to cancer survivors
Mar 27 2006 12:39AM (CT)
HARTFORD, Conn. (AP) - The Hartford Financial Services Group Inc. will make life insurance coverage more accessible to men with prostate cancer, recognizing rising survival rates with early detection.
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