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DrKoop.Com has stock registration revoked
Apr 12 2005 11:44PM (CT)
WASHINGTON (AP) - Three small companies, including a health Web site named for former Surgeon General C. Everett Koop, had their right to issue and trade stock terminated by an administrative law judge at the Securities and Exchange Commission for failing to file mandatory periodic financial reports on time.
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Winn-Dixie bankruptcy case moved to Fla.
Apr 12 2005 11:35PM (CT)
NEW YORK (AP) - A federal judge decided Tuesday to move the bankruptcy case of supermarket giant Winn-Dixie Stores Inc. to its home town in Florida.
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Merck asks judge to dismiss Vioxx trial
Apr 12 2005 11:30PM (CT)
NEW YORK (AP) - Accusing the plaintiff in the case of lying, drug company Merck & Co. asked a judge Tuesday to dismiss the first scheduled trial over its now defunct Vioxx pain reliever, which is slated to begin next month.
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Dollar falls in Asia after swings in N.Y.
Apr 12 2005 11:08PM (CT)
TOKYO (AP) - The dollar slipped against the Japanese yen in Asian trading Wednesday morning, although it seemed to be steadying after a roller-coaster session Tuesday in New York.
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Ventas to buy Provident Senior Living
Apr 12 2005 11:07PM (CT)
LOUISVILLE, Ky. (AP) - Ventas Inc., a real estate investment trust which specializes in the health care field, has agreed to buy privately held Provident Senior Living Trust in a cash-and-stock deal valued at $1.2 billion.
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Mitsubishi announces another recall
Apr 12 2005 10:51PM (CT)
TOKYO (AP) - Mitsubishi Motors Corp., a Japanese automaker whose sales have plunged on recurring recalls, has announced another recall affecting 179,000 cars for a defect in the air conditioning system that caused at least two injuries.
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Judge to drop three charges vs. Scrushy
Apr 12 2005 10:47PM (CT)
BIRMINGHAM, Ala. (AP) - A federal judge said Tuesday she would dismiss three perjury charges from the 58 total counts against Richard Scrushy as jurors heard testimony about the former HealthSouth Corp. CEO's vast fortune.
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Ex-AIG chief gave wife 41.4 million shares
Apr 12 2005 10:45PM (CT)
NEW YORK (AP) - Three days before he resigned as head of American International Group Inc., Maurice "Hank" Greenberg gave his wife 41.4 million of his shares in the insurance company, according to a regulatory filing Tuesday.
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Tokyo stocks mixed; dollar lower vs. yen
Apr 12 2005 10:17PM (CT)
TOKYO (AP) - Tokyo stocks were mixed Wednesday morning due to growing uncertainties over diplomatic disputes between Japan and China. The dollar was trading lower against the Japanese yen but up versus the euro.
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Fed debated approach on interest rates
Apr 12 2005 9:59PM (CT)
WASHINGTON (AP) - Federal Reserve policy-makers last month expressed concerns about inflation and considered abandoning their stance of only increasing interest rates gradually, according to minutes of their March meeting released Tuesday. In the end, they decided to stay the course.
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Firms release positive data on MS drug
Apr 12 2005 9:59PM (CT)
BOSTON (AP) - The makers of a recently withdrawn multiple sclerosis drug released positive results Tuesday from a two-year study and said they continue to hold out hope that Tysabri could eventually be found safe to return to the market.
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LexisNexis: Files may have been breached
Apr 12 2005 9:52PM (CT)
LONDON (AP) - Criminals may have breached computer files containing the personal information of 310,000 people, a tenfold increase over a previous estimate of how much data was stolen from information broker LexisNexis, the company's parent said Tuesday.
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Nike reveals info on overseas factories
Apr 12 2005 7:46PM (CT)
BEAVERTON, Ore. (AP) - After years of criticism over its labor practices abroad, Nike Inc. is disclosing for the first time the names and locations of more than 700 factories that produce its sneakers, apparel and other products.
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Safeway chair pay package totals $19.5M
Apr 12 2005 6:56PM (CT)
SAN FRANCISCO (AP) - Safeway Inc. Chairman Steven Burd's pay package totaled $19.5 million in 2004 _ a tumultuous year marked by a Southern California labor dispute that embittered the grocer's workers and alienated shoppers.
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Petco gives in, will end large-bird sales
Apr 12 2005 6:37PM (CT)
SAN DIEGO (AP) - Petco Animal Supplies Inc. said Tuesday it will stop selling large birds in a deal with an animal rights group, which agreed to end its boycott of the pet supply chain.
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Groups to consider suing AIG for $400M
Apr 12 2005 6:08PM (CT)
SACRAMENTO (AP) - Leaders of the nation's largest public retirement systems said Tuesday they will ask their boards to approve suing troubled insurance giant American International Group, Inc. to recover $400 million in losses suffered since the company's problems surfaced in February.
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Union files charges against Wal-Mart
Apr 12 2005 5:36PM (CT)
NEW YORK (AP) - The United Food and Commercial Workers Union, which is trying to organize workers at Wal-Mart Stores Inc., filed unfair labor practice charges against the world's largest retailer Tuesday to get it to release documents related to the ouster of its former vice chairman and alleged anti-union efforts.
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Bond prices up on Federal Reserve report
Apr 12 2005 5:24PM (CT)
NEW YORK (AP) - Bond prices rose sharply on Tuesday, sending their yields lower, as investors expressed relief that a report from the Federal Reserve showed less concern about inflation than had been feared.
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Group wants Morgan Stanley board meeting
Apr 12 2005 5:17PM (CT)
WASHINGTON (AP) - The Council of Institutional Investors, a group of big public and corporate pension funds, decided Tuesday to ask the board of Morgan Stanley and a cadre of dissident executives fighting for control of the Wall Street investment house for meetings to ask questions, an official of the council said.
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Court lifts injunction against Amazon.com
Apr 12 2005 5:13PM (CT)
NEWARK, N.J. (AP) - A state appellate court on Tuesday lifted an injunction imposed against Amazon.com Inc. in a disagreement over merchandise exclusivity rights with Toys R Us Inc. The contract dispute could go to trial later this spring.
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NYSE specialists face criminal indictment
Apr 12 2005 5:11PM (CT)
NEW YORK (AP) - Fifteen specialists who managed trades on the floor of the New York Stock Exchange used their inside positions to earn an estimated $20 million in illicit gains for themselves and their firms, federal authorities charged Tuesday.
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Tuesday's commodities roundup
Apr 12 2005 4:59PM (CT)
NEW YORK (AP) - Crude-oil futures in New York lost nearly $2 Tuesday to settle at their lowest level in six weeks, as an industry report went a long way toward easing worries about tight global oil supplies later this year.
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Anheuser-Busch threatens Mo. rice boycott
Apr 12 2005 4:20PM (CT)
WASHINGTON (AP) - Anheuser-Busch Cos., the nation's No. 1 buyer of rice as well as its largest brewer, says it won't buy rice from Missouri if genetically modified, drug-making crops are allowed to be grown in the state.
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Kraft agrees to sell operation to Kellogg
Apr 12 2005 4:16PM (CT)
NORTHFIELD, Ill. (AP) - Kraft Foods Inc., the largest U.S. food manufacturer, said Tuesday it has agreed to sell its fruit snacks operation to Kellogg Co. for about $30 million.
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Beverly: Investors to cease proxy battle
Apr 12 2005 3:58PM (CT)
FORT SMITH, Ark. (AP) - Nursing home operator Beverly Enterprises Inc. said Tuesday it would allow an investor group whose $1.5 billion takeover offer had previously been rejected to participate in an auction of the company, and that the investor group would stop its proxy battle.
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Cessna plans to hire 500 new workers
Apr 12 2005 3:56PM (CT)
WICHITA, Kan. (AP) - Cessna Aircraft Co. plans to hire as many as 500 sheet-metal workers to meet rising demand for business jets.
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Verizon submits documents for MCI buyout
Apr 12 2005 3:54PM (CT)
NEW YORK (AP) - Verizon Communications Inc. submitted to federal regulators Tuesday the documents it plans to distribute to MCI Inc. shareholders so they can vote on Verizon's proposed $7.5 billion buyout of the long-distance telephone company.
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Abbott Labs 1Q earnings up 1.8 percent
Apr 12 2005 3:47PM (CT)
NORTH CHICAGO, Ill. (AP) - Health-care products maker Abbott Laboratories Inc. said Tuesday that first-quarter earnings rose 1.8 percent, helped by a 16 percent jump in sales that included double-digit gains in medical products and pharmaceuticals.
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Lutz: Train U.S. engineers 'to be doers'
Apr 12 2005 3:46PM (CT)
DETROIT (AP) - General Motors Corp. executive Bob Lutz said Tuesday that U.S. automakers could streamline their design process if American engineers were trained more like their Asian and European counterparts.
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Tom Ford to make products for Estee Lauder
Apr 12 2005 3:39PM (CT)
NEW YORK (AP) - Cosmetics maker Estee Lauder Cos. has enlisted former Gucci fashion designer Tom Ford to develop beauty products under its namesake flagship brand for sale at its counters nationwide in an effort to turn around sluggish sales.
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Shareholders OK Mittal's purchase of ISG
Apr 12 2005 3:37PM (CT)
ROTTERDAM, Netherlands (AP) - Shareholders in the United States and the Netherlands approved the final step in tycoon Lakshmi Mittal's bid to create one of the world's largest steel businesses, the company said Tuesday.
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Black & Decker boosts 1Q profit estimate
Apr 12 2005 3:34PM (CT)
TOWSON, Md. (AP) - Black & Decker Corp. on Tuesday raised its estimate for first quarter earnings, citing strong sales in its North American power tools and accessories business. Its shares jumped 10 percent.
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Ameritrade 2Q earnings fall 12 percent
Apr 12 2005 3:33PM (CT)
OMAHA, Neb. (AP) - Online broker Ameritrade Holding Corp. said Tuesday that its second-quarter profit slipped 12 percent as trading volume fell off sharply during the period.
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Abercrombie & Fitch to cut pay for CEO
Apr 12 2005 3:07PM (CT)
NEW YORK (AP) - Abercrombie & Fitch Co. will cut pay for its chief executive to settle a lawsuit brought by a shareholder, an indication that a case pending against directors at Walt Disney Co. is having repercussions despite its unresolved status.
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Oil prices slip to $52 per barrel
Apr 12 2005 3:06PM (CT)
VIENNA, Austria (AP) - Oil prices fell to their lowest level in six weeks Tuesday, dropping nearly $2 a barrel after the International Energy Agency forecast slower growth in oil demand this year.
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Slim without big foothold in U.S. market
Apr 12 2005 3:04PM (CT)
MEXICO CITY (AP) - Latin America's richest man is now more than a billion dollars richer. But after selling his stake in MCI to Verizon, Carlos Slim of Mexico is once again without a major foothold in the U.S. market.
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Judge won't recuse in Morgan Stanley case
Apr 12 2005 3:01PM (CT)
WEST PALM BEACH, Fla. (AP) - Morgan Stanley failed Tuesday to get the judge presiding over its legal battle with financier Ronald Perelman taken off the case.
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U.S. narrows deficit to $71.23B in March
Apr 12 2005 2:52PM (CT)
WASHINGTON (AP) - The government ran a deficit of $71.23 billion in March, down significantly from the record amount of red ink recorded in February.
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Co. offers assets to help MG Rover Group
Apr 12 2005 2:29PM (CT)
LONDON (AP) - The directors of Phoenix Venture Holdings, which owns the MG Rover Group, said Tuesday that they have offered assets of up to 30 million pounds ($57 million) to help the stricken car manufacturer as it attempts to resuscitate takeover talks with Chinese automaker Shanghai Automotive Industry Co.
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Toyota signs deal to buy land from Mich.
Apr 12 2005 2:19PM (CT)
ANN ARBOR, Mich. (AP) - Toyota Motor Corp. said Tuesday it has signed a deal to buy 690 acres from the state for a research and development center that is expected to add 400 new jobs.
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Asbestos stocks rise as deal approaches
Apr 12 2005 1:33PM (CT)
WASHINGTON (AP) - Asbestos-related stocks rose sharply Tuesday as key Senate Democrats appeared ready to accept major concessions in an asbestos injury trust-fund bill circulated Tuesday.
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Venezuela's oil minister comments on OPEC
Apr 12 2005 1:14PM (CT)
CARACAS, Venezuela (AP) - The Organization of Petroleum Exporting Countries does not need to raise its output quota and may not need to do so before this summer, Venezuela's oil minister said Tuesday.
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SmartWool signs 7-year deal for wool
Apr 12 2005 1:13PM (CT)
STEAMBOAT SPRINGS, Colo. (AP) - Outdoor clothing maker SmartWool Corp. has signed a seven-year, $30 million deal to buy about 400 metric tons of wool annually from New Zealand Merino Co.
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Woman awarded nearly $1M in lawsuit
Apr 12 2005 1:07PM (CT)
DALLAS (AP) - A 63-year-old woman has been awarded nearly $1 million in an age-discrimination suit against a company run by a 72-year-old woman who insulted her, the former employee's attorneys said.
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Levi's bounces back with 1Q profit
Apr 12 2005 12:42PM (CT)
SAN FRANCISCO (AP) - Levi Strauss & Co. reversed a year-ago loss and boosted its sales in the first quarter, marking a modest step in the long-struggling clothing maker's turnaround efforts.
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Miss. pups may boost gray wolf population
Apr 12 2005 12:39PM (CT)
ST. LOUIS (AP) - The endangered Mexican gray wolf population could swell by 10 percent this spring, after two wolves in captivity gave birth this weekend, and three more are expecting.
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Kozlowski trial postponed due to illness
Apr 12 2005 12:38PM (CT)
NEW YORK (AP) - Proceedings were canceled in the retrial of former Tyco International Ltd. top executives L. Dennis Kozlowski and Mark H. Swartz on Tuesday after Kozlowski came down with an apparent case of food poisoning, one of his lawyers said Tuesday.
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France considers Airbus aid request
Apr 12 2005 12:20PM (CT)
PARIS (AP) - France increased the tension in a trans-Atlantic dispute on aircraft subsidies, announcing Tuesday that it is considering an Airbus request for government aid to help develop its planned rival to Boeing's 787 "Dreamliner."
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Marks & Spencer: next six months crucial
Apr 12 2005 12:19PM (CT)
LONDON (AP) - Struggling retailer Marks & Spencer reported a slide in fourth-quarter sales Tuesday, citing an early 2005 slowdown, but expressed confidence the situation would turn around by the end of the year.
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WTO head: gov'ts must pick up the slack
Apr 12 2005 11:56AM (CT)
GENEVA (AP) - The World Trade Organization's members must do a better job of driving negotiations forward and meeting deadlines if they want to seal a proposed treaty to liberalize global commerce by 2006, the organization's top official said Tuesday.
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London shares decline
Apr 12 2005 11:50AM (CT)
LONDON (AP) - Share prices fell on the London Stock Exchange Tuesday.
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Verizon files MCI registration statement
Apr 12 2005 10:33AM (CT)
NEW YORK (AP) - Verizon Communications Inc., the nation's largest telecom services provider, said Tuesday it filed a registration statement with the Securities and Exchange Commission in connection with the company's proposed acquisition of MCI Inc.
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Media General posts 1Q loss on charge
Apr 12 2005 9:11AM (CT)
RICHMOND, Va. (AP) - Media General Inc., the newspaper publisher and TV station operator, reported a hefty first-quarter loss on Tuesday after it changed the way it values its broadcast licenses, resulting in a $325.5 million accounting charge.
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Brussels Air completes Virgin Express buy
Apr 12 2005 9:03AM (CT)
BRUSSELS, Belgium (AP) - SN Brussels Airlines completed its purchase of Virgin Express Holdings PLC on Tuesday. The deal is intended to improve both carriers' competitiveness in Europe's cluttered market.
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Bulgaria, Greece and Russia sign pact
Apr 12 2005 8:58AM (CT)
SOFIA, Bulgaria (AP) - Bulgaria, Greece and Russia signed a 522 million euros ($677 million) agreement Tuesday for the construction of a trans-Balkan pipeline that will bypass Turkey's busy Bosporus strait.
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LexisNexis breach may be worse than thought
Apr 12 2005 8:23AM (CT)
LONDON (AP) - Publisher and data broker Reed Elsevier Group PLC said Tuesday that up to 10 times as many people as originally thought may have had their profiles stolen from one of its U.S. databases.
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Judge nixes Stewart's bid for new sentence
Apr 12 2005 7:56AM (CT)
NEW YORK (AP) - Martha Stewart's bid for an early release _ or at least to be able to leave home more often for work _ was dashed by a federal judge who ordered her to serve the full five months of house arrest.
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Yukos lawyers predict a guilty verdict
Apr 12 2005 7:54AM (CT)
MOSCOW (AP) - One day after a court adjourned to consider its ruling in the high profile trial of Mikhail Khodorkovsky, foreign lawyers for the jailed Russian oil tycoon said they expected a judge would convict him on what they called politically driven charges.
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U.S. trade official warns China on piracy
Apr 12 2005 7:28AM (CT)
BEIJING (AP) - A U.S. trade official on Tuesday accused China of failing to take product piracy seriously, rejecting Beijing's claim that it is stamping out a multibillion-dollar trade in counterfeit goods.
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EU conditionally OKs Apollo's acquisition
Apr 12 2005 7:13AM (CT)
BRUSSELS, Belgium (AP) - The European Union on Tuesday cleared U.S. investment group Apollo Management LP's acquisition of the German plastics manufacturer Bakelite AG, subject to the companies entering into long-term supply agreements for a specific raw material.
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Toray to boost carbon fiber material output
Apr 12 2005 6:48AM (CT)
TOKYO (AP) - Japanese manufacturer Toray Industries Inc. said Tuesday it will spend 25 billion yen ($232 million) to boost production of carbon fiber materials in Japan, mainly for U.S. aircraft maker Boeing Co.'s new jet.
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Fortis bank bids nearly $1.3B for Disbank
Apr 12 2005 6:34AM (CT)
AMSTERDAM, Netherlands (AP) - Fortis NV bid nearly a billion euros ($1.3 billion) Tuesday to acquire Turkey's Disbank, a purchase that would make it the largest foreign retail bank in Turkey.
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Publisher Judith Regan moving to L.A.
Apr 12 2005 5:21AM (CT)
NEW YORK (AP) - Judith Regan, publisher of HarperCollins' ReganBooks imprint, is planning to move her publishing and media group to Los Angeles from New York by the end of the year to focus on television and film projects.
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Longaberger lays off 360 workers
Apr 12 2005 12:48AM (CT)
NEWARK, Ohio (AP) - The Longaberger Co. said Monday it is laying off about 360 workers because of lower than expected sales at the nation's largest handmade basket-maker.
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