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Crude oil prices fall on profit taking
Apr 6 2006 11:58PM (CT)
SINGAPORE (AP) - Crude oil futures fell Friday as traders took some profit after the contract briefly topped $68 a barrel in the previous session for the first time in more than two months.
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Japanese stocks lower; dollar higher
Apr 6 2006 11:00PM (CT)
TOKYO (AP) - Japanese stocks slipped Friday morning as investors took profits in real estate and auto stocks following the market's rapid pace of gains over past weeks. The dollar was higher against the yen and euro.
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DFW Airport seeks to limit gates at Love
Apr 6 2006 9:58PM (CT)
DALLAS (AP) - Dallas-Fort Worth International Airport would support ending limits on flights from Dallas Love Field if its smaller rival would agree to close nearly half its gates, according to a DFW report.
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Argentina holding down beef prices
Apr 6 2006 9:50PM (CT)
BUENOS AIRES, Argentina (AP) - Argentina's economy minister announced an agreement to freeze some domestic meat prices late Thursday, a move that could help ease an export ban on the country's beef.
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Padilla stepping down as Ford president
Apr 6 2006 9:42PM (CT)
DETROIT (AP) - Ford Motor's president and chief operating officer, Jim Padilla, is stepping down after 40 years at the automaker, the company said Thursday.
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Nortel aims to exit some businesses
Apr 6 2006 9:36PM (CT)
LAS VEGAS (AP) - Nortel Networks Corp. hopes to get out of any business in which it can't control 20 points of market share, said President and Chief Executive Mike Zafirovski said.
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Blockbuster will fight Netflix lawsuit
Apr 6 2006 9:34PM (CT)
DALLAS (AP) - If there's a bright side to being sued, movie-rental giant Blockbuster Inc. claims to have found it in its battle with Netflix Inc.
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China seeking stable trade ties with U.S.
Apr 6 2006 9:32PM (CT)
SHANGHAI, China (AP) - China expects some trade friction with the United States but views stable economic ties as crucial, a top Chinese trade negotiator said, as a trade mission signed more than two dozen contracts on products such as software, autos and soybeans.
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Ex-CEO denies Merck withheld information
Apr 6 2006 9:12PM (CT)
ATLANTIC CITY, N.J. (AP) - In his first appearance in a Vioxx trial, the former chief executive of Merck & Co. insisted Thursday that the company was up front about the safety risks of its troubled arthritis drug during his tenure _ despite a jury verdict to the contrary.
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Providence to divest from cos. in Sudan
Apr 6 2006 8:59PM (CT)
PROVIDENCE, R.I. (AP) - The Providence City Council voted Thursday to stop investing in companies that do business in Sudan as a protest against the African country, which has been accused of genocide in its Darfur region.
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SBA to probe alleged illegal lobbying
Apr 6 2006 8:53PM (CT)
WASHINGTON (AP) - The Small Business Administration will investigate allegations by a Republican senator that agency employees illegally lobbied special interest groups to sway the outcome of a congressional inquiry.
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Tenet Healthcare completes restatements
Apr 6 2006 7:15PM (CT)
WASHINGTON (AP) - Tenet Healthcare Corp. on Thursday filed amended quarterly reports with restated results for the first three quarters of 2005.
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Regulators monitoring risky mortgages
Apr 6 2006 7:10PM (CT)
WASHINGTON (AP) - Federal regulators are paying close attention to increasingly popular high-risk mortgages and the credit risks they pose for banks, the government's top thrift regulator said Thursday.
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Intervoice shares fall on low revenue
Apr 6 2006 6:59PM (CT)
AUSTIN, Texas (AP) - Intervoice Inc. shares slid Thursday, hurt by concerns about the developer of call automation systems' latest revenue data.
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Retailers see tepid sales in March
Apr 6 2006 6:59PM (CT)
NEW YORK (AP) - A moderating economy and cooler weather gave consumers little incentive to shop in March and left retailers with tepid sales for the second month in a row. The later arrival of Easter this year also hurt business, but should help boost results in April.
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Martha Stewart to launch line for Macy's
Apr 6 2006 6:36PM (CT)
NEW YORK (AP) - Martha Stewart Living Omnimedia Inc. said Thursday it will design a line of upscale home merchandise for Federated Department Stores Inc., operator of the Macy's and Bloomingdale's chains, set to roll out next year in Macy's across the country.
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Penney CEO receives $4.8M in compensation
Apr 6 2006 6:26PM (CT)
PLANO, Texas (AP) - The chairman and chief executive of J.C. Penney Co. received total compensation of nearly $4.8 million last year, according to a company filing Thursday.
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Skilling testimony postponed til Monday
Apr 6 2006 6:14PM (CT)
HOUSTON (AP) - Jeffrey Skilling, the former Enron chief executive whose reputation for nurturing innovations that woke up the once-sleepy energy industry shattered along with the company, must wait until next week to provide much-awaited testimony in his fraud and conspiracy trial.
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BlackBerry maker RIM posts $18M profit
Apr 6 2006 6:11PM (CT)
TORONTO (AP) - Research In Motion Ltd., the Canadian maker of the popular BlackBerry wireless e-mail device, posted a modest fourth-quarter profit on Thursday, but its revenue fell short of forecasts.
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Citigroup to pay university $13 million
Apr 6 2006 6:09PM (CT)
SAN FRANCISCO (AP) - Citigroup Inc. will pay $13.25 million to the University of California to settle allegations linking the financial services company to the accounting fiasco that toppled WorldCom Inc. nearly four years ago.
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Sears may take Sears Canada private
Apr 6 2006 6:06PM (CT)
HOFFMAN ESTATES, Ill. (AP) - Sears Holdings Corp., the third-largest U.S. retailer, said Thursday it has succeeded in gaining enough commitments of shares from shareholders to take Sears Canada private.
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Rumored Airbus stake sale rattles union
Apr 6 2006 6:03PM (CT)
LONDON (AP) - Union leaders representing 13,000 British workers sought meetings with BAE Systems PLC management after reports Thursday the defense company was to sell its 20 percent stake in Airbus.
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White House expected to name FDIC head
Apr 6 2006 6:01PM (CT)
WASHINGTON (AP) - Sheila Bair, a Treasury Department official in the early years of the Bush administration, is expected to be named by the White House to head the Federal Deposit Insurance Corp.
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Labor official notes pension disparities
Apr 6 2006 6:00PM (CT)
WASHINGTON (AP) - The AFL-CIO, pushing for more federal regulation of lucrative corporate salaries and pensions, released information Thursday about some of the sweetest executive retirement deals in the country.
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Wine co. Constellation posts profit jump
Apr 6 2006 5:58PM (CT)
FAIRPORT, N.Y. (AP) - Constellation Brands Inc., the world's largest wine company, said Thursday its fourth-quarter profit surged 23 percent, lifted by sharply higher sales of imported beers but offset by a drop in wine sales.
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Auto parts supplier Visteon downgraded
Apr 6 2006 5:49PM (CT)
DETROIT (AP) - Fitch Ratings on Thursday downgraded auto parts supplier Visteon Corp.'s debt rating further into junk status because of concerns about the company's cash flow as it undertakes a major restructuring.
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Bonds drop ahead of jobs data
Apr 6 2006 5:44PM (CT)
NEW YORK (AP) - Bond prices plummeted Thursday as the market's bearish disposition provided the path of least resistance, in a move that could set the market up for volatility Friday, when the government releases its March jobs report.
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June gold hits $600 an ounce
Apr 6 2006 5:43PM (CT)
NEW YORK (AP) - Fund buying enabled the New York precious-metals to close sharply higher Thursday, with gold hitting its strongest level in a quarter century.
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Money funds rise in latest week
Apr 6 2006 5:35PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds rose by $2.23 billion in the latest week to $859.47 billion, the Investment Company Institute said Thursday.
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Judge allows lawsuit against Fleet Bank
Apr 6 2006 5:20PM (CT)
NEW YORK (AP) - An employee of the former Fleet Bank can move ahead with a lawsuit accusing her company of discriminating against thousands of older workers when it switched to a new type of pension plan, a federal judge has ruled.
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American Greetings posts higher 4Q profit
Apr 6 2006 5:20PM (CT)
CLEVELAND (AP) - American Greetings Corp., the nation's second-largest maker of greeting cards, reported Thursday that its profit nearly doubled in the fourth quarter on higher sales, decreased expenses and a lower tax rate.
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Boston Scientific, Guidant merger cleared
Apr 6 2006 5:12PM (CT)
BOSTON (AP) - Shares of Boston Scientific Corp. rose Thursday after the medical-device maker won antitrust clearance from the Federal Trade Commission's staff for its $27 billion acquisition of former rival Guidant Corp., whose shares also rose.
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CME to be exclusive energy future e-trader
Apr 6 2006 5:05PM (CT)
NEW YORK (AP) - The Chicago Mercantile Exchange Inc. will become the exclusive electronic trader of energy futures and options listed on the New York Mercantile Exchange, the two companies said Thursday.
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Developers' group buys Riviera casino
Apr 6 2006 4:27PM (CT)
LAS VEGAS (AP) - Las Vegas hotel and casino operator Riviera Holdings Corp. on Thursday agreed to be bought by a group of private developers for about $211.5 million.
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3M boosts first-quarter guidance
Apr 6 2006 4:26PM (CT)
MINNEAPOLIS (AP) - 3M Co., a maker of items ranging from Scotch tape to optical films, boosted its first-quarter earnings guidance on Thursday, saying growth across its businesses came in stronger than expected. Its shares jumped 5.1 percent.
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Report: U.S. officials investigating BP
Apr 6 2006 4:11PM (CT)
LONDON (AP) - U.S. environmental regulators are conducting a criminal investigation into the management of pipelines in Alaska's North Slope by British energy group BP PLC, a newspaper reported Thursday.
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SEC chief walks fine line, surprising some
Apr 6 2006 4:06PM (CT)
WASHINGTON (AP) - In late February, Christopher Cox, the chairman of the Securities and Exchange Commission, was jolted to learn from news stories that his agency had subpoenaed two financial journalists as part of an investigation.
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Boeing shares top $80 for first time
Apr 6 2006 4:00PM (CT)
CHICAGO (AP) - Boeing Co.'s stock rose to the latest in a series of all-time highs Thursday, boosted in part by two Wall Street upgrades after the jetmaker delivered more commercial aircraft than expected in the first quarter.
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Business tycoon J.B. Fuqua dies at 87
Apr 6 2006 3:58PM (CT)
ATLANTA (AP) - J.B. Fuqua, a business tycoon and philanthropist who built a multibillion dollar conglomerate and became an important figure in the Georgia Democratic Party, has died of complications from bronchitis. He was 87.
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Goodman Global stock climbs in IPO
Apr 6 2006 3:57PM (CT)
WASHINGTON (AP) - Shares of Goodman Global Inc. climbed Thursday, as the heating and air conditioning systems manufacturer had its trading debut on the New York Stock Exchange.
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Analysts unsettled by marketing of Vioxx
Apr 6 2006 3:50PM (CT)
NEWARK, N.J. (AP) - Although a New Jersey jury spared Merck & Co. a double hit to the pocketbook, analysts are concerned that its negative findings on the marketing of Vioxx could continue to hurt the company as it defends itself against almost 10,000 lawsuits filed by users of the now-pulled arthritis drug.
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Rite Aid profit surges in fourth quarter
Apr 6 2006 3:43PM (CT)
HARRISBURG, Pa. (AP) - Rite Aid Corp.'s earnings soared in the fourth quarter on the strength of a huge income tax benefit and improving pharmacy sales, the nation's third largest drugstore chain reported Thursday.
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Tyco Electronics to move headquarters
Apr 6 2006 3:34PM (CT)
HARRISBURG, Pa. (AP) - Tyco Electronics Corp. plans to move its corporate headquarters to the Philadelphia area, although it will not move any employees from its suburban Harrisburg offices, company officials said.
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Merrill Lynch says stocks aren't cheap
Apr 6 2006 3:33PM (CT)
NEW YORK (AP) - Merrill Lynch warned Thursday that stock prices may be more expensive than they appear and that equity markets could be in for a "rough quarter."
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News Corp. to put takeover defense to vote
Apr 6 2006 3:25PM (CT)
NEW YORK (AP) - News Corp., the media conglomerate controlled by Rupert Murdoch, has reached a settlement with a group of shareholders who sued the company over its handling of a "poison pill" anti-takeover defense.
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Ford offers incentives to buy SUV hybrids
Apr 6 2006 2:56PM (CT)
DEARBORN, Mich. (AP) - Ford Motor Co. said Thursday it is expanding zero-percent financing to buyers nationwide on the hybrid versions of its Escape and Mercury Mariner sport utility vehicles.
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Judge OKs payment of fees for Winn-Dixie
Apr 6 2006 2:17PM (CT)
JACKSONVILLE, Fla. (AP) - A federal bankruptcy judge approved Thursday the payment of about $16 million in fees for attorneys and consultants trying to help Winn-Dixie Stores, Inc. emerge from bankruptcy.
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Flight attendants object to NWA price plan
Apr 6 2006 2:11PM (CT)
EAGAN, Minn. (AP) - Flight attendants at Northwest Airlines Corp. are raising safety concerns about the airline's program to sell exit-row seats with extra legroom to passengers willing to pay a $15 fee.
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Citi Trends stock rises on March sales
Apr 6 2006 1:33PM (CT)
NEW YORK (AP) - Shares of Citi Trends Inc. leaped Thursday, a day after the urban apparel and accessories retailer posted same-store sales well above its expectations.
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Yukos executive arrested in Russia
Apr 6 2006 1:26PM (CT)
MOSCOW (AP) - An executive recently assigned to saving Yukos, Russia's former biggest oil producer, from bankruptcy has been arrested on charges of embezzlement and money-laundering, prosecutors said Thursday.
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Nantucket banning chain stores downtown
Apr 6 2006 1:10PM (CT)
NANTUCKET, Mass. (AP) - Nantucket joined several other historic tourist towns across the country in approving a measure that would ban chain stores from the island's downtown, a move endorsed by more than 480 residents at a town meeting.
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Georgia, Moldova say wine ban is political
Apr 6 2006 12:54PM (CT)
MOSCOW (AP) - Wine flows freely at Genatsvale, one of Moscow's many Georgian restaurants, as diners tuck into warm cheese bread and quaff glasses of traditional Georgian vintages _ Mukuzani, Kindzmarauli _ seated next to a decorative stream flowing through the room.
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Greenpeace accuses McDonald's on rainforest
Apr 6 2006 12:36PM (CT)
RIO DE JANEIRO, Brazil (AP) - Greenpeace on Thursday said McDonald's Corp. was fueling the destruction of the Amazon rainforest by using soybeans grown in the region as feed for chickens that end up served in the fast-food chain's European restaurants.
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EU to speed clearance for some medicines
Apr 6 2006 12:30PM (CT)
BRUSSELS, Belgium (AP) - The European Union agreed Thursday to allow drug companies to put new medicines on the market without going through lengthy regulatory processes in cases where early use of the drug is likely to save lives or ease severe suffering.
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Vodafone unveils new structure
Apr 6 2006 12:20PM (CT)
LONDON (AP) - Vodafone Group PLC, the world's largest mobile phone company by revenues, unveiled a new organizational structure Thursday that included plans to break into key telecoms services that combine fixed and mobile networks.
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Australian unemployment drops to 5 pct.
Apr 6 2006 12:19PM (CT)
SYDNEY, Australia (AP) - Australian unemployment dropped to a 30-year low of 5 percent in March, the government announced Thursday.
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Gold futures top $600 an ounce
Apr 6 2006 12:18PM (CT)
NEW YORK (AP) - Gold futures climbed Thursday to more than $600 an ounce for the first time in 25 years, as other surging commodities, especially in the energy markets, stoked investors' inflation concerns.
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Utah mining company building a new city
Apr 6 2006 12:15PM (CT)
WEST JORDAN, Utah (AP) - It's a plan for development that will take more than 50 years from start to finish, on the largest piece of privately owned land next to a U.S. metropolis for an expected half-million residents.
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DaimlerChrysler: 7,800 workers to leave
Apr 6 2006 12:09PM (CT)
STUTTGART, Germany (AP) - DaimlerChrysler AG said Thursday that 7,800 employees have agreed to leave its Mercedes Car Group, bringing it close to its target of 8,500 voluntary job cuts in Germany.
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German union rejects employers' offer
Apr 6 2006 11:54AM (CT)
BERLIN (AP) - Germany's biggest industrial union rejected employers' first formal pay offer in a dispute over wages for factory workers and warned it might step up a campaign of brief strikes that saw 47,000 workers walk off the job on Thursday.
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Rates on 30-year mortgages climb
Apr 6 2006 11:30AM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages rose this week to the highest level in 2 1/2 years as financial markets began to worry more about inflation.
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Armenia to give Gazprom pipeline control
Apr 6 2006 11:24AM (CT)
MOSCOW (AP) - Armenia has agreed to give Russia's Gazprom control of part of an Armenian-Iranian pipeline and a power generating unit at an electric plant, the natural gas company said Thursday.
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Replidyne files for IPO
Apr 6 2006 11:00AM (CT)
WASHINGTON (AP) - Replidyne Inc. has registered for an initial public offering of up to $100 million in common stock, according to a filing with the Securities and Exchange Commission.
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Adam Geller named AP national writer
Apr 6 2006 10:51AM (CT)
NEW YORK (AP) - Adam Geller, a business writer for The Associated Press since 2000, has been named an AP national writer, based in New York.
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Dollar rises against euro
Apr 6 2006 10:47AM (CT)
FRANKFURT, Germany (AP) - The dollar rose against the euro Thursday as the European Central Bank left interest rates unchanged and dampened expectations of an increase next month.
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ECB dampens rate hike speculation
Apr 6 2006 10:47AM (CT)
FRANKFURT, Germany (AP) - European Central Bank President Jean-Claude Trichet said Thursday that the conditions for growth remained strong but dampened speculation that interest rates could be increased in May.
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Luxembourg drops changes to takeover law
Apr 6 2006 10:14AM (CT)
BRUSSELS, Belgium (AP) - Luxembourg's parliament Thursday dropped a proposed change to the country's takeover laws that could have helped Arcelor SA fight off a hostile bid from rival steelmaker Mittal Steel Co.
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Collins & Aikman plans to cut 1,200 jobs
Apr 6 2006 9:42AM (CT)
TROY, Mich. (AP) - Auto parts supplier Collins & Aikman Corp. on Thursday said it plans to cut about 1,200 jobs, or 7.5 percent of its work force, as part of a decision to leave the automotive fabrics business.
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Wendy's finishing deli sandwich rollout
Apr 6 2006 9:05AM (CT)
COLUMBUS, Ohio (AP) - Wendy's International Inc. is finishing the nationwide rollout of its Frescata deli sandwiches, part of its strategy to bolster sagging sales.
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Russia may pay big part of Paris Club debt
Apr 6 2006 8:07AM (CT)
MOSCOW (AP) - Russia could pay $12 billion of the country's outstanding $25.2 billion debt to the Paris Club of creditor nations in August, Finance Ministry officials said Thursday.
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China Construction Bank sees profit drop
Apr 6 2006 6:51AM (CT)
HONG KONG (AP) - China Construction Bank Corp., the country's third-largest lender by assets, said Thursday its 2005 net profit fell 4 percent from the year earlier as it increased provisions for bad loans.
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EU high court rejects Opel appeal
Apr 6 2006 6:38AM (CT)
BRUSSELS, Belgium (AP) - The European Union's high court Thursday upheld a fine of 35.5 million euros ($43.5 million) against General Motors Corp.'s Dutch subsidiary Opel Nederland for restricting cross border sales in the region.
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Lloyds of London reports $181M loss in '05
Apr 6 2006 6:37AM (CT)
LONDON (AP) - Lloyd's of London, the world's biggest insurance market, said Thursday it posted a widely anticipated pretax loss for 2005 on the back of hefty claims from hurricane damage.
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Bank of England holds interest rates
Apr 6 2006 6:34AM (CT)
LONDON (AP) - The Bank of England kept its key interest rate at 4.5 percent on Thursday, leaving the cost of borrowing unchanged for the eighth consecutive month.
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Farmers: California roads need repairs
Apr 6 2006 4:44AM (CT)
FRESNO, Calif. (AP) - Farmers say the country roads crisscrossing California's fertile Central Valley are crumbling, potholed disasters.
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Bank: Growth in Asia economies to slow
Apr 6 2006 12:50AM (CT)
MANILA, Philippines (AP) - Growth in Asia's developing economies will slow but stay robust at 7.2 percent this year, from 7.4 percent in 2005, but the outlook could worsen due to bird flu fears and high oil prices, the Asian Development Bank said Thursday.
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Claire's looks beyond tween, U.S. market
Apr 6 2006 12:36AM (CT)
NEW YORK (AP) - By selling barrettes, jewelry and other accessories to girls ages 8 to 14, Claire's Stores Inc. has carved out a profitable niche in the crowded retail market.
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China to relax foreign currency policies
Apr 6 2006 12:34AM (CT)
BEIJING (AP) - China's government plans to let businesses and its public hold more foreign exchange, state media on Thursday quoted a central bank official as saying, amid pressure on Beijing to ease its strict currency controls.
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