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Japanese stocks mixed; Dollar gains vs yen
Mar 30 2006 11:08PM (CT)
TOKYO (AP) - Japanese stocks were mixed Friday morning as investors collected profits following a recent surge that saw the Nikkei top the 17,000 level for the first time in 5 1/2 years. The dollar rose against the yen.
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Price of oil tops $67 per barrel
Mar 30 2006 10:22PM (CT)
WASHINGTON (AP) - The price of oil topped $67 a barrel Thursday amid persistent supply disruptions in the Gulf of Mexico and Nigeria, a U.N. standoff with Iran over its nuclear program and growing demand in the U.S. despite rising energy costs.
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Japan's jobless rate dips to 4.1 percent
Mar 30 2006 10:21PM (CT)
TOKYO (AP) - Japan's jobless rate fell to 4.1 percent in February, down from 4.5 percent from January and highlighting recent strengths in the labor market, the government said Friday.
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Sikorsky applies to build copters in Pa.
Mar 30 2006 10:18PM (CT)
STRATFORD, Conn. (AP) - Sikorsky Aircraft has filed a federal application to move the production of two helicopters from Connecticut to Pennsylvania.
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Ex-Merrill exec released from prison
Mar 30 2006 9:50PM (CT)
HOUSTON (AP) - A federal appeals court on Thursday ordered former Merrill Lynch executive William Fuhs released from prison pending his appeal of his conviction related to Enron Corp.'s fraudulent sale of power barges to the brokerage.
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Ex-Shenzhen bank chairman detained
Mar 30 2006 9:39PM (CT)
HONG KONG (AP) - Shenzhen Development Bank Co., the first Chinese bank to have a foreign investor as a controlling shareholder, said former Chairman Zhou Lin was been detained for allegedly extending illegal loans.
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Uruguay repays IMF debt due in 2006
Mar 30 2006 9:20PM (CT)
MONTEVIDEO, Uruguay (AP) - Uruguay said Thursday it will repay $630 million to the International Monetary Fund ahead of schedule, clearing all its 2006 obligations to the agency in a sign of the country's improving economic health.
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Aztar shares jump nearly 9 percent
Mar 30 2006 8:44PM (CT)
LAS VEGAS (AP) - Shares in casino operator Aztar Corp. jumped nearly 9 percent Thursday amid reports that real estate investment fund Colony Capital LLC had offered $41 per share for the company, trumping a rival bid.
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Seattle newspapers to seek arbitration
Mar 30 2006 8:08PM (CT)
SEATTLE (AP) - The Seattle Times Co. and the owner of its rival, the Seattle Post-Intelligencer, have asked a judge to let an arbitrator settle whether they can end their joint operating agreement.
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SEC must refile two claims vs. Nacchio
Mar 30 2006 8:00PM (CT)
DENVER (AP) - A federal judge on Thursday dismissed two claims the Securities and Exchange Commission made in its civil fraud lawsuit against former Qwest Communications CEO Joseph Nacchio but gave the agency two weeks to refile with more specific language.
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Finnair orders 9 Airbus A350s, 3 A340s
Mar 30 2006 7:42PM (CT)
PARIS (AP) - Finnish airline Finnair signed firm orders for nine Airbus A350-900 jets and agreed to buy three Airbus A340-300 wide-bodied jets to serve its Asian routes, the European aircraft maker said in a statement Thursday.
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Marsh boosts CEO pay to $10.7M in 2005
Mar 30 2006 7:39PM (CT)
NEW YORK (AP) - Marsh & McLennan Cos. Inc. disclosed Thursday that it had more than doubled the salary of its chief executive, Michael G. Cherkasky, who took over amid a scandal in 2004.
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GAO: Small businesses lose out on deals
Mar 30 2006 7:37PM (CT)
WASHINGTON (AP) - Small businesses lose out on hundreds of millions of dollars in Energy Department contracts each year because the government often gives no-bid work to large firms on flimsy grounds, congressional auditors say.
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Alcatel board meets to review merger talks
Mar 30 2006 6:52PM (CT)
PARIS (AP) - The board of Alcatel SA met Thursday to discuss the continuing negotiations for a possible merger with U.S. rival Lucent Technologies Inc., but offered no hint on whether any deal is nearing completion.
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Ultrapetrol files initial public offering
Mar 30 2006 6:20PM (CT)
WASHINGTON (AP) - Ultrapetrol (Bahamas) Ltd. filed an initial public offering Thursday to sell up to $175 million in common stock, according to a filing with the Securities and Exchange Commission.
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RBS Global files initial public offering
Mar 30 2006 6:19PM (CT)
WASHINGTON (AP) - RBS Global Inc. filed Thursday for an initial public offering of up to $400 million in common stock, according to a filing with the Securities and Exchange Commission.
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Judge allows counterclaim against Parmalat
Mar 30 2006 6:18PM (CT)
CHARLOTTE, N.C. (AP) - A New York federal judge is allowing Bank of America Corp. to proceed with a counterclaim in the $10 billion lawsuit filed against it by bankrupt Italian dairy giant Parmalat.
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TVA to issue $1 billion in 50-year bonds
Mar 30 2006 6:08PM (CT)
KNOXVILLE, Tenn. (AP) - The Tennessee Valley Authority will issue $1 billion in 50-year noncallable bonds at a low rate, with proceeds going to retire existing debt, the nation's largest public utility said Thursday.
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Aventine Renewable Energy files IPO
Mar 30 2006 5:57PM (CT)
WASHINGTON (AP) - Aventine Renewable Energy Holdings Inc. filed an initial public offering Thursday to sell up to $50 million in common stock, according to a filing with the Securities and Exchange Commission.
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Winn-Dixie to sell 12 stores in Bahamas
Mar 30 2006 5:55PM (CT)
JACKSONVILLE, Fla. (AP) - Bankrupt supermarket chain Winn-Dixie Stores Inc. said Thursday it was selling its 12 stores in the Bahamas for $50 million to a company based there.
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Former Eastman Kodak manager sues company
Mar 30 2006 5:46PM (CT)
ROCHESTER, N.Y. (AP) - An Eastman Kodak Co. manager claims she was fired for protesting a cost-saving proposal that would have quietly compressed millions of digital images stored by customers on the world's leading online photography site.
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Bond prices fall on weakness in dollar
Mar 30 2006 5:43PM (CT)
NEW YORK (AP) - Bond prices dropped Thursday, due largely to weakness in the dollar, which led investors to sell longer-term Treasuries.
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Regulators review Knight Ridder takeover
Mar 30 2006 5:39PM (CT)
WASHINGTON (AP) - Antitrust regulators are reviewing the McClatchy Co.'s proposed $4.5 billion takeover of Knight Ridder Inc., including its plan to sell 12 newspapers it is acquiring.
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Lawyer accuses U.S. of pressuring KPMG
Mar 30 2006 5:33PM (CT)
NEW YORK (AP) - Prosecutors pressured KPMG LLP to agree that tax shelters for the wealthy were not legal so they could charge 17 former partners and managers criminally, a lawyer told a judge Thursday, arguing that the charges be dropped.
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Companies see benefits in charity efforts
Mar 30 2006 5:29PM (CT)
CINCINNATI (AP) - Greg Allgood's job at Procter & Gamble Co. has taken him to remote, disease-plagued villages in Kenya, into some of the Western Hemisphere's poorest slums in Haiti, across rebel-ridden territory in Uganda and to tsunami-devastated Sri Lanka and earthquake-ravaged Pakistan.
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Retail money funds fall in latest week
Mar 30 2006 5:21PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds fell by $2.71 billion in the latest week to $857.24 billion, the Investment Company Institute said Thursday.
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Study: Companies lack plans for avian flu
Mar 30 2006 5:21PM (CT)
NEW YORK (AP) - While some 70 percent of companies believe an avian flu pandemic would damage their profitability, only 47 percent have created a business continuity plan, according to a new study released on Thursday.
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Burlington stockholders OK acquisition
Mar 30 2006 5:14PM (CT)
HOUSTON (AP) - Burlington Resources Inc. stockholders on Thursday approved the proposed sale of the energy company to ConocoPhillips, the nation's third-largest integrated oil company.
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Venezuela tightens grip on oil industry
Mar 30 2006 5:11PM (CT)
CARACAS, Venezuela (AP) - Venezuela had a blunt message this week for Exxon Mobil, one of the world's most powerful oil companies: Get off my crude-rich turf.
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Associated British Ports rejects $4B bid
Mar 30 2006 5:03PM (CT)
LONDON (AP) - Associated British Ports Holdings, which operates 21 ports across Britain and an automotive import-export business in the U.S., said Thursday it had received and rejected a 2.3 billion pound ($4 billion) preliminary bid from a private equity consortium.
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Nokia boosts outlook for mobile devices
Mar 30 2006 4:58PM (CT)
HELSINKI, Finland (AP) - Nokia Corp. raised the global growth outlook for mobile devices Thursday as the world's largest cell phone maker anticipated huge demand from emerging markets in Asia and Africa.
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China GrenTech shares up in trading debut
Mar 30 2006 4:58PM (CT)
WASHINGTON (AP) - Shares of China GrenTech Corp. rose Thursday as the Chinese telecommunications-equipment company had its trading debut on the Nasdaq Stock Market.
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Thursday's commodities roundup
Mar 30 2006 4:58PM (CT)
NEW YORK (AP) - Precious metals shot to new multiyear records Thursday at the New York Mercantile Exchange, with silver marking a 23-year high and gold making its best performance since 1981.
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Google stock down on share-selling plans
Mar 30 2006 4:57PM (CT)
SAN FRANCISCO (AP) - Google Inc. shares fell 1.7 percent Thursday after the online search engine leader disclosed it would sell another 5.3 million shares as the company's stock is added to the Standard & Poor's 500 index.
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H&R Block sees 8.6 percent rise in clients
Mar 30 2006 4:56PM (CT)
KANSAS CITY, Mo. (AP) - H&R Block Inc., the tax preparer that has been struggling with a series of troubles in recent months, said Thursday it saw an 8.6 percent increase in the number of total tax clients served in the first half of March, the majority coming through digital channels.
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Ashland agrees to purchase Degussa unit
Mar 30 2006 4:55PM (CT)
FRANKFORT, Ky. (AP) - Ashland Inc. said Thursday it has agreed to purchase a German company's Stockhausen water treatment business in a $144 million cash deal that would expand the Kentucky company's global reach.
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Bank of New York shares climb on report
Mar 30 2006 4:48PM (CT)
NEW YORK (AP) - Bank of New York shares rose more than 4 percent in trading on Thursday after a report that JPMorgan Chase & Co. was looking to buy its 300 branches in a deal valued at about $4 billion.
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Delta pilots march through Ga. airport
Mar 30 2006 4:44PM (CT)
ATLANTA (AP) - Almost 275 Delta Air Lines Inc. pilots marched through the world's busiest airport Thursday to vent their anger over the company's effort to throw out their contract so it can impose up to $325 million in long-term pay and benefit cuts.
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Delphi seen asking judge to cancel deals
Mar 30 2006 4:42PM (CT)
DETROIT (AP) - In a move that would send shudders through an ailing U.S. auto industry, Delphi Corp. was expected to ask a federal judge to cancel its union contracts Friday following months of trying to reach an agreement with General Motors Corp. and its unions to lower workers' wages.
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MedCath shares fall 8.7 percent
Mar 30 2006 4:41PM (CT)
CHARLOTTE (AP) - Shares of MedCath Corp. fell Thursday amid speculation that the federal government may cut reimbursement rates.
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Best Buy 4Q profit climbs 13 percent
Mar 30 2006 4:29PM (CT)
MINNEAPOLIS (AP) - Robust sales of flat-panel televisions, digital music players and laptop computers propelled Best Buy Co. Inc. to a 13 percent increase in fourth-quarter profits, the nation's largest consumer electronics retailer said Thursday.
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Nasdaq abruptly drops LSE takeover bid
Mar 30 2006 4:12PM (CT)
LONDON (AP) - Nasdaq Stock Market Inc. abruptly dropped its 2.4 billion pound (euro3.5 billion; US$4.2 billion) bid for London Stock Exchange PLC without explanation on Thursday, sending shares in the bourse sharply lower.
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Rates on 30-year mortgages rise
Mar 30 2006 4:09PM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages rose this week after the Federal Reserve pushed a key short-term rate up for the 15th time and indicated that more rate increases were possible.
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Coca-Cola rolls out new ad campaign
Mar 30 2006 4:06PM (CT)
ATLANTA (AP) - The Coca-Cola Co., the world's largest beverage maker, hopes to make its products more important to people and relevant in their lives with its latest advertising campaign.
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Court blames former Ahold CFO for scandal
Mar 30 2006 3:42PM (CT)
AMSTERDAM, Netherlands (AP) - A Dutch enterprise court on Thursday put the burden of blame on the former chief financial officer of Royal Ahold NV for an accounting scandal that nearly drove the global food giant into bankruptcy three years ago.
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Merck rests defense in latest Vioxx trial
Mar 30 2006 3:39PM (CT)
ATLANTIC CITY, N.J. (AP) - Merck & Co. rested its defense Thursday in a closely watched trial aimed at determining whether the company's now-withdrawn arthritis drug Vioxx caused the heart attacks of two New Jersey men. Closing arguments are set for Monday.
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Glaxo begins trials on 2 bird flu vaccines
Mar 30 2006 2:04PM (CT)
LONDON (AP) - Pharmaceutical company GlaxoSmithKline PLC said Thursday it has begun international clinical trials of two pandemic vaccines against the H5N1 strain of bird flu in humans.
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ViroPharma stock rises on positive data
Mar 30 2006 2:03PM (CT)
NEW YORK (AP) - Shares of ViroPharma Inc. climbed Thursday, after preliminary Phase II study results showed its antiviral drug maribavir is safe and effective against CMV, or cytomegalovirus.
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Petrobras: Pipeline cost exceeds estimate
Mar 30 2006 1:51PM (CT)
SAO PAULO, Brazil (AP) - The cost of building a natural gas pipeline spanning South America would exceed the most recent estimate of $25 billion, the chief executive of Brazil's state-owned petroleum company said in an interview published Thursday.
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SigmaTel shares fall on revenue warning
Mar 30 2006 1:49PM (CT)
AUSTIN, Texas (AP) - SigmaTel Inc. shares fell sharply after the maker of computer chips for audio players said it would post a loss that would be deeper than expected and warned that first-quarter revenue will fall short of forecasts.
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Deutsche Boerse board backs Euronext talks
Mar 30 2006 1:47PM (CT)
FRANKFURT, Germany (AP) - The supervisory board of Germany's Deutsche Boerse AG on Thursday backed managers' plans for talks on a possible combination with the four-nation Euronext exchange, the Frankfurt exchange operator said Thursday.
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Compass gets complaint on U.N. contracts
Mar 30 2006 1:41PM (CT)
LONDON (AP) - British catering company Compass Group PLC said Thursday it has received a second complaint alleging corrupt activities in some of its contracts with the United Nations.
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German industrial workers continue strikes
Mar 30 2006 1:39PM (CT)
FRANKFURT, Germany (AP) - Thousands of German industrial workers staged brief walkouts on Thursday, part of an ongoing campaign to press employers for a large wage increase.
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Livedoor auditors subject to complaints
Mar 30 2006 12:54PM (CT)
TOKYO (AP) - Japan's securities watchdog said Thursday it has filed complaints against an auditor and an auditing adviser over what it considers false earnings reports of Internet portal Livedoor Co.
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Microsoft defends itself at EU hearing
Mar 30 2006 12:42PM (CT)
BRUSSELS, Belgium (AP) - Microsoft Corp. and the EU squared off Thursday for a hearing that gives the software giant a last chance to defend itself before regulators decide whether to impose daily fines of 2 million euros ($2.4 million).
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Gazprom chief: Belarus must pay euro rates
Mar 30 2006 12:06PM (CT)
MOSCOW (AP) - Russia's natural-gas monopoly OAO Gazprom said Thursday that Belarus must pay European rates for its gas _ an apparent bargaining ploy to win control over its neighbor's gas pipeline system and one that could stir trouble between the allies.
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Dow Chemical may slash 350 jobs in W.Va.
Mar 30 2006 12:05PM (CT)
SOUTH CHARLESTON, W.Va. (AP) - Dow Chemical Co. announced Thursday it will cut up to 350 jobs from its South Charleston operations over the next three years, the latest reductions at a plant the chemical giant acquired from Union Carbide five years ago.
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Las Vegas Sands prepared to invest $3.6B
Mar 30 2006 12:01PM (CT)
SINGAPORE (AP) - Las Vegas Sands Corp., one of four contenders to build Singapore's first casino resort, said Thursday it's prepared to invest $3.6 billion on the project.
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Markets in Japan and India surge
Mar 30 2006 11:55AM (CT)
TOKYO (AP) - Stock markets in Japan and India soared Thursday as demand for blue chip stocks fueled the performances of both.
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Dollar falls against euro
Mar 30 2006 11:41AM (CT)
BERLIN (AP) - The dollar fell to a nine-day low against the euro on Thursday, erasing its gains made after the Federal Reserve raised interest rates earlier in the week.
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Comcast adds NBC to on-demand offerings
Mar 30 2006 11:41AM (CT)
PHILADELPHIA (AP) - More than a dozen popular television shows from NBC Universal's stable of network and cable programs, from "Law & Order" to "Monk," are being added to Comcast Corp.'s on-demand service, the companies announced Thursday.
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S.Korea prosecutors raid Lone Star offices
Mar 30 2006 11:32AM (CT)
SEOUL, South Korea (AP) - South Korean prosecutors on Thursday raided the offices of U.S. investment fund Lone Star over its purchase in 2003 of a majority stake in Korea Exchange Bank, tax irregularities and alleged illegal overseas money transfers.
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India's Ranbaxy Labs buys Belgian drug co.
Mar 30 2006 11:15AM (CT)
NEW DELHI (AP) - India's leading drug company, Ranbaxy Laboratories Ltd., said Thursday it bought a Belgian generic drug manufacturer in its third acquisition this week as it works to expand its European presence.
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Statoil says repairs may take until June
Mar 30 2006 11:04AM (CT)
OSLO, Norway (AP) - Statoil ASA on Thursday said repairs to a critical North Sea platform will take until mid-June, six months after a massive natural gas leak shut it down.
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Japan auto production rises 3 pct. in Feb.
Mar 30 2006 11:04AM (CT)
TOKYO (AP) - Japanese auto production rose 3 percent in February from the same month a year a go, marking the fourth straight month of gains, an industry group said Thursday.
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Rosneft names ex-Morgan Stanley VP as CFO
Mar 30 2006 10:30AM (CT)
MOSCOW (AP) - Russia's state-owned Rosneft oil company has appointed a former Morgan Stanley vice president as its chief financial officer as it prepares for an initial public offering this summer.
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Cadbury scraps TV ads after poor showing
Mar 30 2006 10:19AM (CT)
LONDON (AP) - Cadbury Schweppes PLC has scrapped a much-touted Dr Pepper television campaign featuring the tagline, "There's more to it," after the ads scored poorly with test audiences.
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Schroeder named chairman of gas pipeline
Mar 30 2006 10:09AM (CT)
MOSCOW (AP) - Former German Chancellor Gerhard Schroeder was appointed chairman on Thursday of the consortium building a strategically vital gas pipeline linking Russia's vast reserves with German markets _ and awarded a salary of about $300,000.
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Venezuela suspends ban on U.S. airlines
Mar 30 2006 10:09AM (CT)
CARACAS, Venezuela (AP) - Venezuela has pushed back until the end of April a ban to block U.S. airlines from flying here in retaliation for U.S. safety restrictions against its carriers.
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Petrobras says future in Bolivia uncertain
Mar 30 2006 10:07AM (CT)
SAO PAULO, Brazil (AP) - Brazil's state-owned petroleum company says its future operations in Bolivia are unclear, and the company is worried about a declaration that Brazil has treated its is gas-rich neighbor like a "semi-colony," Petrobras chief executive Sergio Gabrielli said in an interview published Thursday.
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Finnair orders nine Airbus A350 jets
Mar 30 2006 9:11AM (CT)
PARIS (AP) - Finnish airline Finnair signed firm orders for nine Airbus A350-900 jets and agreed to buy three Airbus A340-300 wide-bodied jets to serve its Asian routes, the European aircraft maker said Thursday.
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Japan, US to protect intellectual property
Mar 30 2006 8:55AM (CT)
TOKYO (AP) - The United States and Japan pledged Thursday to cooperate more closely to protect and enforce intellectual property rights, infringements of which cost U.S. companies hundreds of billions of dollars a year.
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Yahoo, Sumitomo Mitsui team up online
Mar 30 2006 7:06AM (CT)
TOKYO (AP) - Yahoo Japan and Sumitomo Mitsui Banking said Thursday they will team up to create a joint online financial service business _ the first tie-up between a mega bank and major Internet portal in Japan.
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Germany's jobless rate dips in March
Mar 30 2006 6:28AM (CT)
FRANKFURT, Germany (AP) - Germany's jobless rate edged downward in March, falling slightly to 12 percent and breaking back below the politically sensitive 5 million mark, according to government figures released Thursday.
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GM in talks to sell stake in Isuzu Motors
Mar 30 2006 6:02AM (CT)
TOKYO (AP) - General Motors Corp. said Thursday it is in talks to sell its stake in Isuzu Motors Ltd. as the troubled company jettisons assets to drum up badly needed cash and hang onto its title as world's biggest automaker.
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Boards want paper trail on exec pay
Mar 30 2006 5:57AM (CT)
NEW YORK (AP) - Amid accusations that corporate directors have been rubber-stamping executive pay packages, board members are looking to create a paper trail that proves they're doing their homework.
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Drought blamed for meager wildflowers
Mar 30 2006 4:46AM (CT)
ENNIS, Texas (AP) - The spring forecast across the Texas landscape is bleak for bluebonnets, poor for primroses and iffy for Indian paintbrushes _ and the winter drought is to blame.
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Regulators OK Whirlpool-Maytag merger
Mar 30 2006 1:54AM (CT)
WASHINGTON (AP) - Whirlpool Corp. aims to close its acquisition of troubled rival Maytag Corp. next week after antitrust regulators said consumers won't suffer from the combination.
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China's SAIC scraps plan with Korean firm
Mar 30 2006 1:44AM (CT)
SHANGHAI, China (AP) - Chinese automaker SAIC said Thursday it has scrapped plans to build a joint venture factory to produce SUVs with South Korea's Ssangyong Motor Co., although the two are discussing other forms of cooperation.
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Philippine airline offering 2 cent seats
Mar 30 2006 1:27AM (CT)
MANILA, Philippines (AP) - A Philippine discount airline, Cebu Pacific, is offering seats for one peso (2 cents) in a bid to boost sales.
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Former diversity manager sues Honda
Mar 30 2006 1:23AM (CT)
MARYSVILLE, Ohio (AP) - A woman who oversaw diversity programs for Honda of America at its U.S. manufacturing operations in Ohio was fired for complaining about racial discrimination at the company, according to a federal agency's lawsuit.
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