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Polo resolves software 'glitch'
Apr 15 2005 9:07PM (CT)
NEW YORK (AP) - Clothing retailer Polo Ralph Lauren Corp. said Friday that a glitch in its software that set off an alert about the theft of credit card information has been repaired.
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Congress renews interest in identity theft
Apr 15 2005 9:06PM (CT)
WASHINGTON (AP) - Responding to outrage from consumers whose personal information has been stolen from companies, Congress is primed to pass new laws to try to prevent break-ins and to require businesses to confess to customers when private data is taken.
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Economic powers to discuss oil prices
Apr 15 2005 7:15PM (CT)
WASHINGTON (AP) - The world's economic powers this weekend will explore ways to defend the global economy from any serious damage should oil and gasoline prices climb sharply higher.
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March industrial output inches higher
Apr 15 2005 6:48PM (CT)
WASHINGTON (AP) - Output at the nation's factories, mines and utilities rose by 0.3 percent in March despite the first decline in manufacturing in six months.
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MetLife would delay Travelers job cuts
Apr 15 2005 6:08PM (CT)
HARTFORD, Conn. (AP) - Amid intensifying political pressure, MetLife Inc. announced Friday it would delay some previously announced job cuts at Travelers Life & Annuity, the Hartford-based insurer it hopes to acquire this year.
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Bond prices rise as Dow industrials sink
Apr 15 2005 5:38PM (CT)
NEW YORK (AP) - Bond prices rose Friday, as Wall Street suffered its worst single day in nearly two years amid deepening concerns over economic growth and higher prices.
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Dynegy settles UC shareholder lawsuit
Apr 15 2005 5:23PM (CT)
HOUSTON (AP) - Dynegy Inc. has agreed to pay $468 million in cash and stock to settle a class-action shareholder lawsuit alleging the company misled investors about a natural gas deal wrongly used to boost cash flow, the company said Friday.
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UAW leader against smoking ban in plants
Apr 15 2005 5:08PM (CT)
DETROIT (AP) - United Auto Workers union president Ron Gettelfinger, who said earlier this week he won't reopen the union's contract with General Motors Corp. to deal with rising health care costs, said Friday he doesn't support banning smoking in assembly plants.
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Payday-lending stocks dip on Cash America
Apr 15 2005 4:58PM (CT)
CHARLOTTE, N.C. (AP) - Shares of Cash America International Inc. and other companies that provide "payday loans" tumbled Friday after Cash America withdrew its fiscal 2005 earnings forecast, citing uncertainty over tighter requirements issued last month by the Federal Deposit Insurance Corp.
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Cree Inc. profits aided by pinball game
Apr 15 2005 4:55PM (CT)
DURHAM, N.C. (AP) - Shares of Cree Inc. increased nearly 12 percent Friday after the semiconductor maker announced that quarterly profits jumped largely because of demand for its high-brightness light-emitting diodes used in a popular Japanese gambling game.
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Friday's commodities roundup
Apr 15 2005 4:52PM (CT)
NEW YORK (AP) - Crude-oil futures in New York settled lower Friday, pulled down by expiring options, but managed to halve earlier losses of more than a dollar.
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Genentech's stock surges on Avastin news
Apr 15 2005 4:38PM (CT)
SAN FRANCISCO (AP) - Genentech Inc.'s stock surged Friday after it was announced that its newest and hot-selling drug Avastin helped some of the sickest breast cancer patients live longer than expected.
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Wal-Mart freezes Coughlin's benefits
Apr 15 2005 4:30PM (CT)
LITTLE ROCK (AP) - Wal-Mart Stores Inc. disclosed Friday that it has frozen millions of dollars in benefits for former vice chairman Tom Coughlin, who resigned from Wal-Mart's board amid allegations of improper spending and a possible government investigation.
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Patent victory gives Lilly breathing room
Apr 15 2005 4:28PM (CT)
INDIANAPOLIS (AP) - Eli Lilly and Co.'s victory in a closely watched Zyprexa patent case has given the drugmaker some needed breathing room while it confronts a series of remaining challenges surrounding its best-selling drug: its shrinking U.S. market, a series of liability lawsuits and remaining patent challenges.
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Hardee's parent co. to restate results
Apr 15 2005 4:26PM (CT)
ST. LOUIS (AP) - The corporate parent of the Hardee's and Carl's Jr. restaurant chains said Friday it will restate its previous earnings reports to include roughly $2.6 million in lease-related expenses.
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Citigroup, Wachovia report strong profits
Apr 15 2005 4:06PM (CT)
NEW YORK (AP) - Citigroup Inc., the nation's largest financial institution, and Wachovia Corp., a fast-growing regional bank based in Charlotte, N.C., reported strong first-quarter earnings on Friday, soundly beating analysts' projections.
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Westar Energy settles shareholder suits
Apr 15 2005 4:04PM (CT)
TOPEKA, Kan. (AP) - Westar Energy Inc. has agreed to settle a series of shareholder lawsuits for $32.5 million, the utility said Friday.
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Saks shares tumble after filing delay
Apr 15 2005 4:03PM (CT)
NEW YORK (AP) - Saks Inc.'s shares tumbled more than 7 percent Friday, after the department store operator delayed its annual report and annual meeting amid an expanding regulatory and internal investigation into its payment and accounting practices. The company also said some employees had been put on leave.
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Coca Cola HBC, Coca-Cola Co. buy Vlasinka
Apr 15 2005 3:57PM (CT)
ATHENS, Greece (AP) - Greece's Coca Cola Hellenic Bottling Co. and Atlanta-based The Coca-Cola Co. together have bought Serbian mineral water company Vlasinka, the Greek company said Friday.
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Raytheon stock dips as CFO put on leave
Apr 15 2005 3:53PM (CT)
BOSTON (AP) - Shares in defense contractor Raytheon Co. dipped Friday after the company placed its chief financial officer on leave and offered to settle a government inquiry into accounting practices at one of its units.
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GE's 1Q profit surges on global sales
Apr 15 2005 3:50PM (CT)
STAMFORD, Conn. (AP) - General Electric Co. said Friday that first-quarter profit rose 25 percent from a year ago, powered by recently acquired health care and entertainment businesses, growing global sales and renewed strength across most of its businesses.
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Charles Schwab profit dips on price cuts
Apr 15 2005 3:48PM (CT)
SAN FRANCISCO (AP) - Charles Schwab Corp.'s first-quarter profit dropped 10 percent, dragged down by restructuring costs and price cuts that trimmed the discount stock brokerage's revenue.
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Web growth, innovation threatens papers
Apr 15 2005 3:42PM (CT)
SAN FRANCISCO (AP) - Craig Newmark already has tormented newspapers by creating a Web site where anyone can post ads at little or no cost, capturing an ever-growing share of the classified advertising market that had been one of the industry's most dependable sources of revenue.
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Former Bank of America official sentenced
Apr 15 2005 3:36PM (CT)
ST. LOUIS (AP) - A former Bank of America trust officer was sentenced Friday to five years in federal prison on charges that she pilfered more than $1 million from customer accounts, using some of the money to buy a home and car.
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Brookstone to be acquired by consortium
Apr 15 2005 3:28PM (CT)
MERRIMACK, N.H. (AP) - Brookstone Inc., a retailer of high-end gadgets, on Friday said it agreed to be acquired by a group of investors comprising two Singapore companies and a domestic private equity firm for $20.50 per share, in a deal worth about $445 million.
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Scrushy team tries to discredit testimony
Apr 15 2005 1:58PM (CT)
BIRMINGHAM, Ala. (AP) - Lawyers for ousted HealthSouth chief Richard Scrushy tried to discredit the government's analysis of his vast riches Friday with a dizzying blitz of questions about accounts and computer databases.
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Mediator: Lamy most likely to get backing
Apr 15 2005 1:48PM (CT)
GENEVA (AP) - Former European Union trade chief Pascal Lamy is the candidate most likely to attract consensus as the new director-general of the World Trade Organization, a key mediator said Friday.
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Journal Communications net earnings surge
Apr 15 2005 1:13PM (CT)
MILWAUKEE (AP) - Journal Communications Inc. reported Friday that its first quarter net earnings increased 10.9 percent, including a $4.8 million after-tax gain from discontinued operations related to the sale of its NorthStar Print Group.
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Antonveneta's board approves takeover bid
Apr 15 2005 1:00PM (CT)
ROME (AP) - Italy's Banca Antonveneta SpA said Friday its board had backed a 6.3 billion euros ($8.1 billion) takeover offer from Dutch bank ABN Amro for the 87 percent in Antonveneta it does not already own.
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Mack Trucks adds jobs as demand rises
Apr 15 2005 12:58PM (CT)
HAGERSTOWN, Md. (AP) - Mack Trucks Inc. is boosting employment at its plants due to strong demand for its heavy-duty trucks.
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IPOs scheduled to debut next week
Apr 15 2005 12:48PM (CT)
NEW YORK (AP) - The following is a list of initial public offerings planned for the coming week, as provided by Informa Global Markets EquityWatch.
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Avastin treatment hits primary endpoint
Apr 15 2005 12:28PM (CT)
NEW YORK (AP) - Biotech company Genentech Inc. and Swiss drug maker Roche Holding AG said Friday that an interim analysis of clinical trial data showed that cancer treatment Avastin met its primary endpoint of increasing survival rates in breast cancer patients.
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Leica shares sink on CEO resignation news
Apr 15 2005 12:12PM (CT)
FRANKFURT, Germany (AP) - Shares of Leica Camera AG plunged more than 20 percent Friday after the company said its chief executive would step down next week.
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EU nations to ban suspect corn imports
Apr 15 2005 12:01PM (CT)
BRUSSELS, Belgium (AP) - European Union nations voted Friday to ban U.S. shipments of suspect corn gluten animal feed unless the bloc has full assurance that the imports are free of non-authorized genetically modified corn.
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Norwegian authorities order rig shutdown
Apr 15 2005 11:48AM (CT)
OSLO, Norway (AP) - Norwegian authorities on Friday ordered the offshore oil rig Eirik Raude to remain shut down until the cause of its third spill into ecologically fragile Arctic waters since February has been investigated.
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Citigroup profit up on banking growth
Apr 15 2005 11:42AM (CT)
NEW YORK (AP) - Citigroup Inc., the nation's largest financial institution, said Friday that first-quarter earnings rose 3 percent from a year ago, helped by growth in retail banking as well as corporate and investment banking. Its shares rose in morning trading.
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Head of meatpacker Swift & Co. resigns
Apr 15 2005 11:38AM (CT)
GREELEY, Colo. (AP) - John Simons, the only president and chief executive officer that meatpacker Swift & Co. has ever had, has resigned.
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MG Rover officials look to break co. up
Apr 15 2005 11:35AM (CT)
LONDON (AP) - MG Rover Group arrived at the end of the road Friday as administrators for the stricken company _ Britain's last major car manufacturer _ said they intend to break it up, laying off 5,000 workers, after the Shanghai Automotive Industry Corp. made clear it was not interested in a joint venture.
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IBM shares slip on weak earnings report
Apr 15 2005 11:32AM (CT)
NEW YORK (AP) - International Business Machines Corp. shares dropped more than 6 percent Friday after its surprise announcement that its first-quarter earnings fell below analysts' expectations, hurt by an inability to close sales and higher pensions expenses.
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Skype tops 100 million downloads
Apr 15 2005 11:22AM (CT)
STOCKHOLM, Sweden (AP) - The company that makes the Skype software for letting Internet users call one another for free anywhere in the world is launching two premium services as the number of downloads topped 100 million on Friday.
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Tribune profit climbs, circulation lower
Apr 15 2005 10:59AM (CT)
CHICAGO (AP) - Media and entertainment company Tribune Co., which publishes the Chicago Tribune, New York Newsday and the Los Angeles Times, reported a 19 percent increase in net first-quarter earnings despite a 9 percent drop in newspaper circulation and lower broadcast revenue.
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German government, opposition strike deal
Apr 15 2005 10:39AM (CT)
BERLIN (AP) - The German government and the conservative opposition on Friday agreed to let the long-term unemployed earn extra money in addition to their jobless benefits.
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KeyCorp 1Q profit up on fee income growth
Apr 15 2005 10:33AM (CT)
CLEVELAND (AP) - KeyCorp, a large regional banking company, said Friday that first-quarter earnings rose 5.6 percent from a year ago, reflecting stronger demand for commercial loans and growth in fee income.
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Bertelsmann to buy bookstore chain Privat
Apr 15 2005 10:28AM (CT)
FRANKFURT, Germany (AP) - Bertelsmann AG said Friday it was acquiring France's biggest independent chain of book stores, Privat, but didn't disclose the terms of the deal.
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Tower Automotive to lay off 800 workers
Apr 15 2005 9:37AM (CT)
NOVI, Mich. (AP) - Auto parts supplier Tower Automotive Inc., which declared bankruptcy earlier this year, said Friday it is closing three facilities and laying off 800 workers as part of a restructuring.
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Wachovia posts record 1Q profit of $1.62B
Apr 15 2005 9:31AM (CT)
CHARLOTTE, N.C. (AP) - Wachovia Corp. on Friday posted a record first-quarter profit of $1.62 billion, or $1.01 a share, up from $1.25 billion, or 94 cents, a year earlier. The bank attributed the strong results to gains by all its major businesses.
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Borders announces management changes
Apr 15 2005 9:24AM (CT)
ANN ARBOR, Mich. (AP) - Borders Group Inc., the nation's second-largest bookseller behind Barnes & Noble Inc., on Friday announced three management reassignments.
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BBC journalists to protest job cuts
Apr 15 2005 9:09AM (CT)
LONDON (AP) - Some British Broadcasting Corp. journalists have voted to take action to protest thousands of job cuts, their union said Friday, although they stopped short of a strike.
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Knight Ridder 1Q profit up on ad revenue
Apr 15 2005 9:04AM (CT)
SAN JOSE, Calif. (AP) - Knight Ridder Inc., the second-largest newspaper publisher in the country, reported Friday that its first-quarter earnings rose 8 percent on solid advertising revenue.
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Samsung's first-quarter profit plummets
Apr 15 2005 8:44AM (CT)
SEOUL, South Korea (AP) - Samsung Electronics Co. reported a worse-than-expected 52 percent slump in first quarter profit as prices of liquid crystal displays and computer memory chips fell amid a supply glut.
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U.S., India delay finalizing agreement
Apr 15 2005 8:40AM (CT)
BANGALORE, India (AP) - India has delayed signing an aviation technology agreement with the United States that was meant to be concluded along with a commercial airline pact the two countries signed this week, the U.S. transportation secretary said Friday.
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Report: DaimlerChrysler holders approached
Apr 15 2005 8:14AM (CT)
FRANKFURT, Germany (AP) - DaimlerChrysler AG's largest shareholders have been approached by private equity firms about acquiring their stakes in a bid to breakup the automaker, the Financial Times reported in Friday's edition.
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Dixons acquires right to buy retailer
Apr 15 2005 7:54AM (CT)
MOSCOW (AP) - U.K.-based electronics retailer Dixons Group PLC said Friday it has signed a deal for the right to buy Russia's biggest retailer for $1.9 billion, an agreement that highlights the promise of Russia's consumer market.
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Sony Ericsson posts 61 percent profit drop
Apr 15 2005 7:44AM (CT)
STOCKHOLM, Sweden (AP) - Sony Ericsson Mobile Communications AB, the world's sixth-largest mobile phone maker, said Friday that profit dropped 61 percent in the first quarter as the western European market declined and handset prices fell.
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EMI expects better profit, full-year sales
Apr 15 2005 7:30AM (CT)
LONDON (AP) - EMI Group PLC, one of the world's largest music companies, said Friday that its full-year sales and profits will be better than it forecast in February, thanks to a smaller-than-expected drop in music sales.
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Automakers head for Shanghai Auto Show
Apr 15 2005 7:19AM (CT)
SHANGHAI, China (AP) - Top world automakers will showcase new models in China's commercial center of Shanghai next week in hopes of reviving languishing domestic sales.
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China bans management buyouts for some
Apr 15 2005 7:09AM (CT)
SHANGHAI, China (AP) - China on Friday announced it was banning executives at major state-owned companies from buying government shareholdings, acting to prevent theft of state assets as the country moves to reform its stock markets.
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Tokyo's main stock index falls for 5th day
Apr 15 2005 6:23AM (CT)
TOKYO (AP) - Tokyo's benchmark stock index tumbled Friday for a fifth straight day, pulling technology and issues linked to domestic economy down following Wall Street's overnight plunge. The U.S. dollar strengthened against the Japanese yen, but sank versus the euro.
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Atlantic Monthly magazine leaving Boston
Apr 15 2005 4:25AM (CT)
BOSTON (AP) - The Atlantic Monthly, a magazine headquartered in Boston for nearly 150 years, has announced plans to move to its parent company's headquarters in Washington.
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Michigan man fights to save ash trees
Apr 15 2005 1:06AM (CT)
HARSENS ISLAND, Mich. (AP) - State officials fear a 40-acre farm near the Canadian border could be hosting an unwelcome and infamous visitor: the emerald ash borer, an exotic beetle blamed for killing or infesting 7 million ash trees in Michigan.
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