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Oil prices steady after sharp climb
Apr 10 2006 11:35PM (CT)
SINGAPORE (AP) - Oil prices held steady in electronic trading Tuesday after hitting a seven-month high in New York the previous day amid concerns that Iran's nuclear standoff and violence in Nigeria could undermine supplies.
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Japan monetary policy stays unchanged
Apr 10 2006 11:21PM (CT)
TOKYO (AP) - Japan's central bank kept its monetary policy unchanged Tuesday at the end of a two-day policy board meeting.
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Hopkins modifies Cosmedicine relationship
Apr 10 2006 10:21PM (CT)
BALTIMORE (AP) - A skin care company will remove most references to Johns Hopkins Hospital from packages and promotional material on line of expensive skin-care products after concerns were raised about the medical institution's relationship with the company that produces them.
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Qantas plans to scrap its budget carrier
Apr 10 2006 9:54PM (CT)
SYDNEY, Australia (AP) - Qantas Airways Ltd. is scrapping its budget carrier Australian Airlines in July, and will focus on its key Qantas and low-cost Jetstar brands in local and international markets.
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Skilling tells Enron jury he's 'innocent'
Apr 10 2006 9:46PM (CT)
HOUSTON (AP) - Former Enron Corp. Chief Executive Jeffrey Skilling told jurors in his fraud and conspiracy trial Monday that he abruptly resigned from the energy trading company a few months before it collapsed because he was worn out and troubled by its falling share price _ not because he knew disaster loomed.
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Safeway to receive $315M tax settlement
Apr 10 2006 8:38PM (CT)
PLEASANTON, Calif. (AP) - Safeway Inc. said Monday that it will receive $315 million later this year under an Internal Revenue Service settlement covering most of the grocer's federal income tax returns during the 1990s.
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Donohue named director of SEC division
Apr 10 2006 8:37PM (CT)
WASHINGTON (AP) - Andrew Donohue, a Wall Street attorney, has been named the new director of the Securities and Exchange Commission division that oversees mutual funds and hedge funds, the agency said Monday.
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Japanese stocks flat, dollar mixed
Apr 10 2006 8:09PM (CT)
TOKYO (AP) - Japanese stocks were flat in early trade Tuesday, as investors awaited comments by the central bank's governor for indications about when interest rates may rise. The dollar was higher against the yen.
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Vioxx jurors will continue deliberating
Apr 10 2006 7:38PM (CT)
ATLANTIC CITY, N.J. (AP) - Jurors couldn't reach a verdict Monday on whether Merck & Co. should pay additional damages to a New Jersey man already awarded $4.5 million for a heart attack he blamed on the arthritis drug Vioxx.
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Alcoa sees robust first-quarter profit
Apr 10 2006 7:17PM (CT)
PITTSBURGH (AP) - Aluminum producer Alcoa Inc. on Monday saw its first-quarter profit more than double, well above Wall Street's estimates, thanks to strong demand and favorable aluminum prices.
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Ex-Qwest accountant discusses auditors
Apr 10 2006 7:08PM (CT)
DENVER (AP) - A former Qwest accountant charged with fraud said Monday that he relied on advice from outside auditors after federal regulators refused to provide accounting guidance about booking revenue from fiber-optic network swaps.
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EEOC sues Lucent on alleged discrimination
Apr 10 2006 6:58PM (CT)
ST. LOUIS (AP) - The U.S. Equal Employment Opportunity Commission sued Lucent Technologies Inc. on Monday, claiming the telecommunications equipment company violated the Age Discrimination Employment Act when it fired a veteran worker.
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Judge delays ruling on Comair contract
Apr 10 2006 6:53PM (CT)
CINCINNATI (AP) - A federal bankruptcy judge has agreed to postpone until at least April 17 a decision on whether to void Comair's contract with its flight attendants.
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Proxy: Target CEO earned $45M in 2005
Apr 10 2006 5:08PM (CT)
MINNEAPOLIS (AP) - Target Corp. Chairman and Chief Executive Bob Ulrich made $45 million in 2005, including $34.9 million cashing in stock options and a $6.5 million bonus, the discount retailer disclosed on Monday in its proxy.
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Bond prices edge modestly higher
Apr 10 2006 4:40PM (CT)
NEW YORK (AP) - Bond prices edged modestly higher Monday, bringing an end to several days of sharp selling that had seen the yield on the benchmark 10-year note rise to multiyear highs.
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Bank of America to cut about 1,900 jobs
Apr 10 2006 4:40PM (CT)
DOVER, Del. (AP) - Bank of America said Monday that it is closing call centers in Delaware and two other states, cutting about 1,900 jobs as it continues its integration of former credit card giant MBNA Corp.
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PGE shares decline on NYSE trading debut
Apr 10 2006 4:31PM (CT)
PORTLAND, Ore. (AP) - Shares of Portland General Electric Co. stock fell nearly 5 percent on Monday, the company's first day of "Enron free" trading.
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Zale: SEC launches probe into accounting
Apr 10 2006 4:25PM (CT)
DALLAS (AP) - Jewelry retailer Zale Corp. said Monday the Securities and Exchange Commission has started a probe into its accounting, executive pay and other matters.
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Union OKs new Lockheed Martin contract
Apr 10 2006 4:23PM (CT)
FORT WORTH, Texas (AP) - Union workers at Lockheed Martin Aeronautics Co. accepted a new contract with higher wages and a limited increase in employee contributions to health care costs.
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Swiss officials threaten to fine Swisscom
Apr 10 2006 4:21PM (CT)
BERN, Switzerland (AP) - Swiss authorities have threatened to fine telecommunications company Swisscom AG 489 million Swiss francs ($376 million) for allegedly overcharging mobile phone customers who receive calls originating from other phone networks, the company said Monday.
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Serono withdraws offer to sell company
Apr 10 2006 4:20PM (CT)
GENEVA (AP) - Swiss biotechnology company Serono, the focus of takeover speculation for months, said Monday it was no longer up for sale because offers had fallen short of its value.
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Monday's commodities roundup
Apr 10 2006 4:15PM (CT)
NEW YORK (AP) - Silver futures rose Monday to their highest level in 23 years on the New York Mercantile Exchange, as fresh money from investors poured into the precious metals.
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Ohio steel mill explosions leave 3 hurt
Apr 10 2006 4:06PM (CT)
MIDDLETOWN, Ohio (AP) - A series of steam explosions ignited several fires and injured three workers at a steel mill where union employees have been locked out for six weeks, officials said.
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Groups urge U.S. to reject Wal-Mart bid
Apr 10 2006 4:03PM (CT)
WASHINGTON (AP) - Allies for once, a stream of officials from the banking industry, unions and consumer groups urged federal regulators on Monday to reject a bid by Wal-Mart Stores Inc. to expand its empire into the banking business.
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Alcoa forms venture with Chinese company
Apr 10 2006 4:00PM (CT)
PITTSBURGH (AP) - Alcoa Inc., the world's largest aluminum producer, said Monday it has formed a joint venture with a Chinese engraving company to make aluminum brazing sheets near Shanghai, China.
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Cablevision declares special dividend
Apr 10 2006 3:59PM (CT)
NEW YORK (AP) - Cablevision Systems Corp. has declared a special dividend of $3 billion, or $10 per share, the cable TV operator said in a regulatory filing Monday.
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Verilink slashes 20 percent of work force
Apr 10 2006 3:44PM (CT)
CENTENNIAL, Colo. (AP) - Verilink Corp., a computer network equipment manufacturer, said Monday it has laid off 20 percent of its work force and filed for bankruptcy reorganization as it works to restructure debt.
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Venezuela sees boosting trade with Cuba
Apr 10 2006 3:34PM (CT)
HAVANA (AP) - Friendly ties between Cuba and Venezuela are now much more than political, opening the way to a burgeoning trade relationship estimated to reach more than $3.5 billion this year _ about 50 percent richer than in 2005, according to Venezuela's ambassador to Cuba.
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Cable TV races to keep up with consumers
Apr 10 2006 3:19PM (CT)
ATLANTA (AP) - There's a big power shift in the world of paid television, and it's not between the traditional rivals of cable and satellite. Consumers are getting more control over what and how they watch, and cable operators are doing everything they can to cater to their rapidly evolving desires.
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Luxury cars to be shown at N.Y. Auto Show
Apr 10 2006 3:10PM (CT)
DETROIT (AP) - Despite consumers' growing affection for smaller and more fuel-efficient cars, luxury vehicles are holding their own in the U.S. market, and automakers hope to maintain that momentum with new models that will be introduced this week at the New York Auto Show.
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RWE urged to consider selling utilities
Apr 10 2006 2:32PM (CT)
FRANKFURT, Germany (AP) - Several U.S. municipalities on Monday urged German utility RWE AG to consider selling some of its water utilities to the communities they serve instead of to financial investors.
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Momenta Pharma stock falls on dispute
Apr 10 2006 2:16PM (CT)
NEW YORK (AP) - Momenta Pharmaceuticals Inc. stock fell Monday after an appeals court sent a patent dispute related to the company's lead drug candidate back to U.S. District Court.
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Disney to make 4 ABC shows free online
Apr 10 2006 2:02PM (CT)
BURBANK, Calif. (AP) - The Walt Disney Co. said Monday its TV group plans to offer four ABC prime-time shows including "Desperate Housewives" and "Lost" online for free beginning in May.
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Myogen shares fall over drug concerns
Apr 10 2006 2:02PM (CT)
NEW YORK (AP) - Myogen Inc. stock fell Monday on concerns that two areas of the company's latest trial for a pulmonary arterial hypertension drug didn't show significant improvement compared with a December trial.
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Group seeks ban on fat-blocking pill
Apr 10 2006 1:33PM (CT)
WASHINGTON (AP) - A private group asked health officials Monday to ban the prescription version of the fat-blocking drug orlistat, citing a link to what some scientists believe are precancerous lesions in the large intestine.
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Sentence may be adjusted for ex-Qwest exec
Apr 10 2006 12:48PM (CT)
DENVER (AP) - A former Qwest executive facing a year of probation in a $34 million fraud scheme may have his sentence converted to time already served, attorneys said Monday.
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Wacker Chemie shares surge 22 pecent
Apr 10 2006 12:45PM (CT)
FRANKFURT, Germany (AP) - Shares of Wacker Chemie AG rose nearly 22 percent on their first day of trading Monday in the biggest initial public offering in Germany since 2004.
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Shares in Norway's DNO oil company surge
Apr 10 2006 12:44PM (CT)
OSLO, Norway (AP) - Shares in the small Norwegian oil company DNO ASA soared nearly 11 percent Monday on promising tests of a crude discovery in northern Iraq.
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College grads seek jobs, culture in cities
Apr 10 2006 12:39PM (CT)
WASHINGTON (AP) - College graduates are flocking to America's big cities, chasing jobs and culture and driving up home prices. Though many of the largest cities have lost population in the past three decades, nearly all have added college graduates, an analysis by The Associated Press found.
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In Japan, day trading surges in popularity
Apr 10 2006 12:37PM (CT)
FUJISAWA, Japan (AP) - When Takao Uchida's plan to launch his own business fell through three years ago, he knew right away how to use his 2.5 million yen, or $21,550, in savings. He withdrew it from his nearly zero-interest bank account and bought stocks.
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Consortium to manage Ugandan railway
Apr 10 2006 12:23PM (CT)
KAMPALA, Uganda (AP) - Uganda has signed a contract with a South African-led consortium to manage its railway, four months behind schedule because of a court case, an official said Monday.
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Pioneer, Syngenta to market biotech seed
Apr 10 2006 10:26AM (CT)
DES MOINES, Iowa (AP) - Seed company Pioneer Hi-Bred International Inc. and rival Switzerland-based biotechnology company Syngenta AG announced a joint venture Monday that will license the sale of newly developed corn and soybean seed genetics and biotech traits.
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Perlegen Sciences files for IPO
Apr 10 2006 10:14AM (CT)
WASHINGTON (AP) - Biopharmaceutical company Perlegen Sciences 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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IBM unveiling new encryption chip
Apr 10 2006 10:03AM (CT)
BOSTON (AP) - In an effort to boost the level of data security on portable computers, cell phones and other gadgets, IBM Corp. is unveiling a method for injecting encryption capabilities into the heart of the machines' circuitry.
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Dollar mixed in European trading
Apr 10 2006 9:47AM (CT)
BERLIN (AP) - The dollar slipped Monday against the euro and pound but edged up against the Japanese currency in European trading.
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IKEA races to cash in on China's market
Apr 10 2006 9:42AM (CT)
BEIJING (AP) - The restaurant at IKEA's newest store seats 700. Its lobby is a cavernous three stories high. To show off the Swedish home furnishing maker's goods, there are showrooms the size of five football fields with 77 model living rooms, kitchens and bedrooms.
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Airbus considering improvements to A350
Apr 10 2006 9:39AM (CT)
PARIS (AP) - Airbus said Monday it would consider improving the design of its wide-bodied A350 airliner after the planned fuel-efficient jet drew criticism from senior aviation executives.
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Swiss businessman charged in Infineon probe
Apr 10 2006 8:47AM (CT)
MUNICH, Germany (AP) - Prosecutors investigating a corruption scandal at German chip maker Infineon AG said Monday they have filed the first charges in the case against a Swiss businessman suspected of paying kickbacks in return for sponsorship contracts.
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Corn growers expect rise in foreign sales
Apr 10 2006 7:49AM (CT)
WASHINGTON (AP) - Corn farmers are expected to grow less of their crop but sell more to foreign customers, pushing price forecasts higher, the Agriculture Department said Monday.
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EU sets May target for Mittal bid ruling
Apr 10 2006 7:05AM (CT)
BRUSSELS, Belgium (AP) - European Union regulators have set a May 19 target for an antitrust ruling on Mittal Steel Co.'s 19 billion euro ($23 billion) hostile takeover bid for rival steel giant Arcelor SA, the EU said Monday.
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Vivendi developing talent in China market
Apr 10 2006 6:53AM (CT)
SHANGHAI, China (AP) - French entertainment and telecommunications company Vivendi Universal SA wants to find and promote local entertainers in China, banking on strong demand for music among its legions of young consumers, company chairman Jean-Bernard Levy said Monday.
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Samsung, Sony to expand LCD production
Apr 10 2006 6:33AM (CT)
SEOUL, South Korea (AP) - Samsung Electronics Co. and Sony Corp. plan to invest about $2 billion to expand joint production of liquid crystal display panels to meet soaring global demand for flat-screen televisions.
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Farmers watch debate on immigration reform
Apr 10 2006 2:38AM (CT)
FRESNO, Calif. (AP) - Fourth-generation vegetable farmer Will Rousseau keeps one eye on his crops and another on Capitol Hill, where Congress is debating immigration bills that could mean bounty or bust for farms dependent on migrant labor.
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Smoother portfolio ride can boost returns
Apr 10 2006 1:49AM (CT)
NEW YORK (AP) - A zigzagging portfolio can cause anxious investors to do things they may later regret. So why not try and smooth some of those jagged lines?
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China facing pressures over U.S. trade gap
Apr 10 2006 1:13AM (CT)
WASHINGTON (AP) - The Chinese are bringing their checkbooks to buy American jetliners, computer programs and farm products. But the multibillion-dollar shopping spree may fail to ease growing trade tensions with the United States without significant policy changes by Beijing.
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