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TiVo wins damages in suit vs. EchoStar
Apr 13 2006 11:49PM (CT)
MARSHALL, Texas (AP) - A federal jury awarded TiVo Inc. nearly $74 million in damages Thursday in a swift ending to a patent-infringement lawsuit against EchoStar Communications Corp., the parent of the Dish satellite television provider.
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Newspaper publishers post weaker results
Apr 13 2006 11:13PM (CT)
NEW YORK (AP) - Several newspaper publishers reported lower first-quarter results Thursday as sluggish advertising, higher newsprint prices, new costs for expensing stock options and one-time charges took their toll.
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Oil prices rise above $69 per barrel
Apr 13 2006 11:11PM (CT)
NEW YORK (AP) - Oil prices rose above $69 a barrel on Thursday ahead of the long weekend, as worries about possible supply disruptions overshadowed the news that U.S. crude inventories are at their highest level in eight years.
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Nissan CEO talks up new Altima
Apr 13 2006 10:58PM (CT)
SMYRNA, Tenn. (AP) - Nissan Motor Co. President and CEO Carlos Ghosn on Thursday visited an assembly plant where the redesigned 2007 Altima sedan will start production in October and said it's getting positive reviews just a day after the public debut.
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Japanese stocks lower; Dollar higher
Apr 13 2006 10:33PM (CT)
TOKYO (AP) - Japanese stocks fell slightly Friday morning as investors sold technology, finance and department store issues, reversing early gains. The dollar was higher against the yen and euro.
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Two Hyundai Motor executives detained
Apr 13 2006 9:59PM (CT)
SEOUL, South Korea (AP) - Prosecutors detained two top executives of Hyundai Motor Co. on Friday in an escalating scandal over allegations that the company created a slush fund to try and win business favors from government officials.
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China to let companies invest abroad
Apr 13 2006 9:47PM (CT)
BEIJING (AP) - China will let companies and individuals invest abroad directly for the first time, state media said Friday, in a move that could reduce currency tensions with Washington ahead of a U.S. visit by President Hu Jintao.
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Samsung Electronics reports 1Q profit
Apr 13 2006 8:32PM (CT)
SEOUL, South Korea (AP) - Samsung Electronics Co., the world's biggest manufacturer of memory chips, said Friday that its first-quarter profit rose 26 percent from the same period the year before amid strong demand for flat screen televisions.
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Livedoor delisted from Tokyo Stock Exchange
Apr 13 2006 8:31PM (CT)
TOKYO (AP) - Scandal-tainted Internet startup Livedoor was delisted from the Tokyo Stock Exchange on Friday, ending its six-year history as a publicly traded company.
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Patent case win key to TiVo survival
Apr 13 2006 7:54PM (CT)
SAN JOSE, Calif. (AP) - TiVo Inc. just got a new lease on life. A jury's $73.9 million damage award Thursday to the digital video recording pioneer in its patent lawsuit against EchoStar Communications Corp., gives the struggling company not only a welcome cash infusion but also new leverage to seek additional licensing revenue from the growing number of other DVR providers.
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Skilling: Gov't ignored facts about Enron
Apr 13 2006 6:14PM (CT)
HOUSTON (AP) - Former Enron Corp. Chief Executive Jeffrey Skilling struggled to hold his temper Thursday at being pegged a liar and a crook by federal prosecutors, telling jurors in his criminal trial that he was devastated the company he cherished had become a symbol for scandal.
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Employees prepare for life after Ford
Apr 13 2006 6:01PM (CT)
ST. PAUL, Minn. (AP) - Ford Motor Co.'s plans to close two plants puts 4,300 workers into turmoil. But they're getting something many other laid-off workers don't _ time.
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Bausch & Lomb shares rise amid probe
Apr 13 2006 5:52PM (CT)
ROCHESTER, N.Y. (AP) - After two days in a tailspin, shares of Bausch & Lomb Inc. edged up Thursday as federal officials investigate whether its newest contact lens solution is to blame for a fungal eye infection that can cause blindness.
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Former Cox CEO to pay to settle charges
Apr 13 2006 5:49PM (CT)
WASHINGTON (AP) - A former chief executive of media conglomerate Cox Enterprises Inc. has agreed to pay more than $100,000 to settle federal regulators' charges that he used advance knowledge of Cox's 2004 offer to buy out its publicly held cable TV unit to illegally profit from sales of company stock.
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Judge: Allstate policy exclusions 'valid'
Apr 13 2006 5:48PM (CT)
GULFPORT, Miss. (AP) - Provisions in Allstate Insurance Co.'s policies that exclude damage from Hurricane Katrina's flood waters are "valid and enforceable," a federal judge in Mississippi has ruled _ a setback for Gulf Coast policyholders whose claims were denied by the insurer.
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U.S. weekly oil, gas rig count up by 31
Apr 13 2006 5:37PM (CT)
HOUSTON (AP) - The number of rigs actively exploring for oil and natural gas in the United States this week increased by 31 to 1,610.
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Alien Technology files IPO
Apr 13 2006 4:57PM (CT)
WASHINGTON (AP) - Alien Technology Corp., which makes radio frequency identification products, filed an initial public offering Thursday to sell up to $138 million in common stock, according to a filing with the Securities and Exchange Commission.
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Delta, pilots union continue negotiations
Apr 13 2006 4:47PM (CT)
ATLANTA (AP) - Intense talks between negotiators for Delta Air Lines Inc. and its pilots union continued for a third straight day Thursday without word of an agreement on long-term pay and benefit cuts that could avert a crippling strike at the nation's third-largest carrier.
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Nuvasive shares increase 6.7 percent
Apr 13 2006 4:45PM (CT)
NEW YORK (AP) - Nuvasive Inc. shares rose Thursday, a day after the Centers for Medicare and Medicaid Services released proposed changes to in-hospital reimbursement rates that weren't as severe as Wall Street had expected.
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Money funds fall in latest week
Apr 13 2006 4:43PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds fell by $2.44 billion in the latest week to $857.03 billion, the Investment Company Institute said Thursday.
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Hyundai unveils new Elantra at auto show
Apr 13 2006 4:40PM (CT)
NEW YORK (AP) - Hyundai Motor Co. hopes to give the Honda Civic and Toyota Corolla stiff competition with its redesigned Elantra sedan, introduced Thursday at the New York Auto Show.
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Tropicana agrees to fines over violations
Apr 13 2006 4:37PM (CT)
TAMPA, Fla. (AP) - Tropicana Beverages North America has agreed to pay more than $164,000 in fines for exposing workers to safety hazards at the company's Bradenton processing plant, the U.S. Occupational Safety and Health Administration said Thursday.
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Napster shares jump 12 percent on upgrade
Apr 13 2006 4:35PM (CT)
LOS ANGELES (AP) - Shares of Napster Inc. jumped Thursday, after ThinkEquity initiated coverage of the online music company with a "buy" rating.
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Meat processor targets clueless shoppers
Apr 13 2006 4:32PM (CT)
BURNSVILLE, Minn. (AP) - Dan Hogan admitted he had only a vague idea of what he was doing as he poked through the beef case, looking for dinner. Like many in his generation, the 32-year-old Burnsville man didn't pick up much cooking knowledge growing up.
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Massey Energy seeks to rebuff rejection
Apr 13 2006 4:28PM (CT)
CHARLESTON, W.Va. (AP) - Coal mining company Massey Energy Inc. took the unusual step of speaking directly to shareholders Thursday to rebuff an effort to replace two of its directors.
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Bond prices fall ahead of Easter weekend
Apr 13 2006 4:24PM (CT)
NEW YORK (AP) - Bond prices on Thursday dropped ahead of the long Easter weekend, pushing the yield on the 10-year note past 5 percent for the first time since mid-2002.
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Sony Ericsson 1Q net profit up to $132M
Apr 13 2006 4:06PM (CT)
STOCKHOLM, Sweden (AP) - Mobile-phone maker Sony Ericsson on Thursday said first-quarter earnings more than tripled as demand grew for its popular Walkman music phones and the company upped its global market forecast for 2006.
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Yukos seeks U.S. bankruptcy protection
Apr 13 2006 4:00PM (CT)
WASHINGTON (AP) - Russia's Yukos Oil Co. filed Thursday for bankruptcy-law protection from its creditors in the U.S. Bankruptcy Court in Manhattan.
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Alcoa to sell home exteriors business
Apr 13 2006 4:00PM (CT)
PITTSBURGH (AP) - Alcoa Inc., the world's biggest aluminum producer, announced plans Thursday to sell its U.S.-focused home exteriors business, saying the construction and remodeling products no longer fit with the company's global portfolio.
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Dell inks 5-year printer deal with Boeing
Apr 13 2006 3:59PM (CT)
ROUND ROCK, Texas (AP) - Computer maker Dell Inc. announced a five-year, multimillion dollar deal Thursday to manage jetmaker Boeing Co.'s printers in North America.
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Ford to shut plants in Minn., Va. in 2008
Apr 13 2006 3:50PM (CT)
DETROIT (AP) - Ford Motor Co., which is closing plants and cutting jobs in an effort to improve results from its North American auto business, said Thursday that it will shutter assembly plants in Norfolk, Va., and St. Paul, Minn., in 2008.
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GM may take charge in 1Q for health plan
Apr 13 2006 3:46PM (CT)
DETROIT (AP) - General Motors Corp. said Thursday that it could take a charge of as much as $3 billion in the first quarter for payments it needs to make to a new health fund for retired workers, according to a filing with federal regulators.
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Thursday's commodities roundup
Apr 13 2006 3:43PM (CT)
NEW YORK (AP) - Gold slipped Thursday, but remained above the $600 per ounce level despite some traders taking profits ahead of the weekend.
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GE 1Q earnings jump 9 percent to $4.3B
Apr 13 2006 3:40PM (CT)
STAMFORD, Conn. (AP) - General Electric Co. said Thursday its first-quarter profit rose 9 percent as strong sales of aircraft engines, locomotives, medical equipment and financial services offset weaknesses in energy and its NBC television network.
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Fidelity to close funds to new investors
Apr 13 2006 3:37PM (CT)
BOSTON (AP) - Fidelity Investments said Thursday it is closing two large and recently popular mutual funds to new investors, two weeks after closing its biggest fund, the $65 billion Contrafund.
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Countries sign digital TV standard memo
Apr 13 2006 3:31PM (CT)
BRASILIA, Brazil (AP) - Brazil moved toward adopting a high-definition TV system based on the Japanese standard, choosing it over the one used in the United States.
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McDonald's: 1st-quarter profit on target
Apr 13 2006 3:27PM (CT)
OAK BROOK, Ill. (AP) - McDonald's Corp. said Thursday it expects to report first-quarter earnings of about 49 cents per share, in line with Wall Street's expectations but down more than 12 percent from a year ago when it recorded a substantial tax gain.
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Rein to become Walgreen CEO on July 12
Apr 13 2006 3:25PM (CT)
DEERFIELD, Ill. (AP) - Walgreen Co., the nation's largest drugstore chain by sales, announced Thursday that President Jeffrey Rein will become chief executive officer on July 12 at the next board of directors meeting.
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Candy-maker to buy dog treat manufacturer
Apr 13 2006 2:58PM (CT)
KANSAS CITY, Mo. (AP) - Mars Inc., maker of Snickers, Milky Way and M&M's candies, is buying the manufacturer of the country's best-selling dog treat.
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VNU pushes back annual meeting
Apr 13 2006 1:54PM (CT)
AMSTERDAM, Netherlands (AP) - The embattled management board of Dutch publisher VNU NV said it will clear all other items from the agenda of next week's shareholders' meeting to focus on a contested 7.5 billion euros ($9.1 billion) takeover bid.
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Buffett devotes time to college students
Apr 13 2006 1:53PM (CT)
OMAHA, Neb. (AP) - Warren Buffett is known for shrewd financial deals, but the world's second-richest man also invests some of his time to help guide business students.
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Mortgage rates at highest in nearly 4 yrs.
Apr 13 2006 1:41PM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages climbed this week to their highest point in nearly four years, a development that could put a further crimp in housing activity.
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McClatchy 1Q profit falls 14 percent
Apr 13 2006 1:37PM (CT)
NEW YORK (AP) - The McClatchy Co., a newspaper publisher which is buying Knight Ridder Inc., posted first-quarter results Thursday that were well below analysts' expectations, sending its stock down nearly 5 percent.
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Qualcomm to pay $1.8M to settle complaint
Apr 13 2006 1:15PM (CT)
WASHINGTON (AP) - Qualcomm Inc. has to agreed to pay a $1.8 million penalty for violating antitrust rules in its recent $600 million purchase of Flarion Technologies Inc., the Justice Department said Thursday.
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Rolls-Royce offers money for pensions debt
Apr 13 2006 12:50PM (CT)
LONDON (AP) - Jet-engine maker Rolls-Royce Group PLC on Thursday pledged 500 million British pounds ($875 million) toward tackling its pensions deficit if workers agree to close its final salary plans to new members.
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Honda may cut hybrid production
Apr 13 2006 12:31PM (CT)
NEW YORK (AP) - Honda Motor Co. may cut production of the Honda Accord hybrid because sales have been so slow, Honda Executive Vice President Dick Colliver said Thursday at the New York Auto Show.
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Bayer makes $20B bid for Schering official
Apr 13 2006 12:16PM (CT)
BERLIN (AP) - Bayer AG on Thursday made its official takeover bid for fellow German drugmaker Schering AG, offering 16.5 billion euros ($20.01 billion), slightly more than its previous 16.3 billion euro ($19.76 billion) offer that Schering's board had recommended be accepted.
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German economy seeks kick from World Cup
Apr 13 2006 12:03PM (CT)
FRANKFURT, Germany (AP) - Germany is hoping that the million soccer fans expected for the World Cup will give its torpid economy a mighty kick.
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WTO criticizes US duties on Canada lumber
Apr 13 2006 11:50AM (CT)
GENEVA (AP) - The World Trade Organization ruled Thursday that the United States had failed to bring its import duties on Canadian lumber into line with international trade rules.
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NY Times profit falls in first quarter
Apr 13 2006 11:42AM (CT)
NEW YORK (AP) - The New York Times Co. reported Thursday that it earned $35 million in the first quarter, down sharply from $111 million a year ago when the media company recorded a big gain from the sale of its headquarters building.
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Tribune profit falls 28 percent in 1Q
Apr 13 2006 11:38AM (CT)
CHICAGO (AP) - Tribune Co., the newspaper publisher and radio and TV station operator, said Thursday that first-quarter profit fell 28 percent as revenue edged lower and the company absorbed stock-based compensation expenses and one-time charges.
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Ford recalling nearly 150,000 SUVs
Apr 13 2006 11:36AM (CT)
WASHINGTON (AP) - Ford Motor Co. said Thursday it would recall nearly 150,000 Ford Escape and Mercury Mariner sport-utility vehicles after the government and the automaker reached different conclusions in safety tests measuring the driver's head protection in a crash.
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Federated won't reopen New Orleans Macy's
Apr 13 2006 10:34AM (CT)
CINCINNATI (AP) - The Macy's store in New Orleans, closed since Hurricane Katrina hit the Gulf Coast, will not reopen, said a spokeswoman for parent company Federated Department Stores Inc.
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Union: Ford to close St. Paul plant in '09
Apr 13 2006 10:32AM (CT)
MINNEAPOLIS (AP) - Ford Motor Co. plans to close its St. Paul, Minn., assembly plant in 2009, the United Auto Workers local told its members Thursday.
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Dollar rises versus euro
Apr 13 2006 10:12AM (CT)
BERLIN (AP) - The dollar gained slightly versus the euro, as the U.S. currency got a boost Thursday from government data that showed the economy is on solid footing.
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IMF: Globalization can't be relied on
Apr 13 2006 10:07AM (CT)
WASHINGTON (AP) - Central bankers trying to control inflation may have to work harder in the future as oil prices remain high and corporations begin spending cash reserves, the International Monetary Fund said Thursday.
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Report: China's economy grows 8.5 pct.
Apr 13 2006 10:05AM (CT)
SHANGHAI, China (AP) - China's sizzling economic growth slowed to an estimated 8.5 percent in the first three months of this year and will gradually slow to 7.5 percent by the end of the year, a government report said Thursday.
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InBev pays $1.2B for stake in Quinsa
Apr 13 2006 7:24AM (CT)
BRUSSELS, Belgium (AP) - InBev SA, the world's biggest beer producer, on Thursday paid $1.2 billion to raise its stake in Quinsa Industrial SA, the largest brewer in Argentina and three other South American countries.
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Circuit City 4Q earnings soar 65 percent
Apr 13 2006 5:18AM (CT)
RICHMOND, Va. (AP) - Circuit City Stores Inc. reported solid revenue growth and higher profits in the fourth quarter as it benefited from internal improvements and exceptionally strong sales of flat-panel televisions. Its shares rose more than 7 percent.
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NW pilots to get equity in reorganization
Apr 13 2006 5:16AM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. pilots will hold an $888 million claim to be paid in stock when the carrier emerges from bankruptcy, the pilot's union said in a presentation to members.
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Ghosn: Hybrids could see sales slowdown
Apr 13 2006 5:11AM (CT)
NEW YORK (AP) - Nissan Motor Co. Chief Executive Carlos Ghosn said Wednesday he feels vindicated that hybrids could be seeing a sales slowdown, since he has repeatedly warned that it is too early to fully back the technology.
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Planned Tyco breakup may not create value
Apr 13 2006 5:10AM (CT)
NEW YORK (AP) - A breakup of the conglomerate Tyco International Ltd. may not be the magic bullet company management needs to create value for shareholders.
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Soybean cyst nematode is a $250M problem
Apr 13 2006 2:56AM (CT)
CHAMPAIGN, Ill. (AP) - Soybean planting in Illinois is just weeks away, and while farmers worry about the possibility of plant-killing rust, some crop researchers are sounding a different alarm: Beware the soybean cyst nematode.
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AMD posts 1Q net income of $185 million
Apr 13 2006 12:01AM (CT)
SAN FRANCISCO (AP) - Advanced Micro Devices Inc. on Wednesday said it swung to a first-quarter profit that exceeded Wall Street expectations, as Intel Corp.'s smaller rival benefited from market-share gains and the spinoff of its unprofitable flash memory subsidiary.
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