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New York Times wins 3 OPC awards
Apr 17 2006 11:17PM (CT)
NEW YORK (AP) - A journalist killed while covering the Iraq war is being honored with an Overseas Press Club Award for excellence in international journalism.
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Liberty predicts double-digit growth
Apr 17 2006 11:14PM (CT)
ENGLEWOOD, Colo. (AP) - Liberty Media Corp. on Monday issued guidance for two tracking stocks it will issue next month, predicting its video and online commerce business revenue will grow by double-digits this year.
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Japanese stocks climb on bargain-hunting
Apr 17 2006 10:29PM (CT)
TOKYO (AP) - Japanese stocks rose at midday Tuesday as bargain-hunting lifted blue chips after the market's recent decline, although concerns about rising oil prices weighed on sentiment. The dollar inched up against the yen.
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Oil prices settle above $70 a barrel
Apr 17 2006 9:46PM (CT)
WASHINGTON (AP) - Oil prices settled at a record high above $70 a barrel on Monday, rising more than $1 on concerns about supply disruptions in Nigeria and diplomatic tensions between the West and Iran over Tehran's nuclear ambitions.
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Japanese minister assesses rate rises
Apr 17 2006 9:32PM (CT)
TOKYO (AP) - Japanese Finance Minister Sadakazu Tanigaki said Tuesday recent rises in long-term interest rates are not desirable for the nation's economy.
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Birch Telecom emerges from bankruptcy
Apr 17 2006 7:27PM (CT)
KANSAS CITY, Mo. (AP) - Birch Telecom Inc. said Monday it has emerged from Chapter 11 bankruptcy protection, owned by creditors.
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Report: Venezuela took land from oil cos.
Apr 17 2006 7:17PM (CT)
CARACAS, Venezuela (AP) - Venezuela reclaimed more than 10,700 square miles in potential drilling acreage from private oil companies last month by requiring them to join new state-controlled joint ventures, a newspaper reported Monday.
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Venezuela to house new petrochemical plant
Apr 17 2006 7:04PM (CT)
RIO DE JANEIRO, Brazil (AP) - Brazilian company Braskem and Pequiven, a division of Venezuela's state-run oil firm PDVSA, have signed a memorandum of understanding for the construction of a petrochemicals complex in Venezuela, Braskem's chief executive said Monday.
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Wheeling-Pitt stock up on buyout reports
Apr 17 2006 6:53PM (CT)
CHARLESTON, W.Va. (AP) - Shares of Wheeling-Pittsburgh Corp. rose 12 percent Monday on reports the troubled steel manufacturer is weighing two competing takeover offers.
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CEO retires as Wendy's fights slow sales
Apr 17 2006 6:50PM (CT)
COLUMBUS, Ohio (AP) - Wendy's International Inc., the nation's third-largest hamburger chain, said Monday that Chairman and CEO Jack Schuessler has retired.
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Charles Schwab earns $243 million in 1Q
Apr 17 2006 6:33PM (CT)
SAN FRANCISCO (AP) - Charles Schwab Corp.'s quarterly profit surged to its highest level in six years as the stock brokerage continued to win over customers with lower prices and an advertising campaign highlighting the Main Street appeal of the company's namesake founder.
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Skilling denies tailoring Enron testimony
Apr 17 2006 6:26PM (CT)
HOUSTON (AP) - Former Enron Corp. Chief Executive Jeffrey Skilling denied Monday he had tailored his testimony to counter government allegations that he knew his company resorted to accounting tricks and other fraud to post impressive results.
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Walter steps down as Cardinal Health CEO
Apr 17 2006 6:15PM (CT)
COLUMBUS, Ohio (AP) - Cardinal Health Inc. founder Robert Walter, who turned a small food wholesaler into one of the nation's largest providers of health care products and services, stepped down Monday as chief executive and plans to leave as chairman within two years.
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Heart device makers face new challenge
Apr 17 2006 6:13PM (CT)
BOSTON (AP) - Proposed cuts in government reimbursement for expensive but potentially lifesaving heart devices including defibrillators and stents have created a new financial challenge for the fast-growing industry.
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Berkshire Hathaway to acquire Russell
Apr 17 2006 5:55PM (CT)
NEW YORK (AP) - Russell Corp., which makes sweat shirts, workout clothes and sporting goods, on Monday said it agreed to be acquired by billionaire investor Warren Buffett's Berkshire Hathaway Inc. for nearly $600 million.
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Sharper Image 4Q profit falls 62 percent
Apr 17 2006 5:53PM (CT)
SAN FRANCISCO (AP) - Sharper Image Corp.'s quarterly profit plunged 62 percent as the retailer of high-tech gadgets and offbeat merchandise continued to struggle to overcome a sales funk that has provoked a shareholder rebellion.
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Schuessler retires as Wendy's Int'l CEO
Apr 17 2006 5:25PM (CT)
DUBLIN, Ohio (AP) - Wendy's International Inc., the nation's third-largest hamburger chain, said Monday that chairman and CEO Jack Schuessler has retired.
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4th suitor emerges for Aztar in bid war
Apr 17 2006 5:23PM (CT)
LAS VEGAS (AP) - The bidding war for casino operator Aztar Corp. heated up as a fourth suitor offered to top three other offers with a cash bid of $1.7 billion, Aztar said Monday.
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Level 3 to buy ICG in cash-and-stock deal
Apr 17 2006 5:14PM (CT)
DENVER (AP) - Network operator Level 3 Communications Inc. continued its buying spree with a deal Monday to purchase ICG Communications for $163 million in cash and stock.
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Bond prices rise modestly on housing data
Apr 17 2006 5:07PM (CT)
NEW YORK (AP) - Bond prices rose modestly Monday, recovering a little from the heavy losses of recent weeks on the back of weak housing data.
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Study: Health insurers are near-monopolies
Apr 17 2006 5:01PM (CT)
SAN FRANCISCO (AP) - Consolidation among health insurers is creating near-monopolies in virtually all reaches of the United States, according to a study released Monday.
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China bank said in talks with Bear Stearns
Apr 17 2006 4:55PM (CT)
NEW YORK (AP) - One of China's biggest state-controlled banks is discussing investing up to $4 billion in a deal that could end up giving it a minority stake in the U.S. investment firm Bear Stearns Cos., a published report said Monday.
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51Job shares climb on analyst's comments
Apr 17 2006 4:45PM (CT)
NEW YORK (AP) - Stock of China's 51Job Inc. jumped Monday after a Citigroup analyst listed the human resources company, among others, as a potential Google Inc. takeover target.
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Boeing to lay off about 900 Kan. workers
Apr 17 2006 4:34PM (CT)
WICHITA, Kan. (AP) - Citing defense budget cuts and delays, Boeing Co. announced Monday it would restructure its Wichita operations and lay off about 900 workers or about 25 percent of its current work force at the plant.
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Experts: Ethanol makers have room to grow
Apr 17 2006 4:27PM (CT)
TOLEDO, Ohio (AP) - Only a handful of investors knew about The Andersons Inc. and its grain storage and rail car businesses a few months ago. Even in its hometown, the company is better known for stores that feature a wide range of microbrews, fresh breads and garden supplies. But the company's recent entry into the burgeoning ethanol industry has sent its stock soaring.
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Tyco to pay $50M penalty to settle charges
Apr 17 2006 4:23PM (CT)
TRENTON, N.J. (AP) - Tyco International Ltd. will pay the Securities and Exchange Commission a $50 million civil penalty to settle allegations the high-tech conglomerate's prior management violated securities laws, cooked the books and overstated financial results by at least $1 billion.
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Harrah's to sell Lake Charles riverboats
Apr 17 2006 4:21PM (CT)
BATON ROUGE, La. (AP) - Harrah's Entertainment Inc. plans to sell two Lake Charles riverboat casinos later this year to Pinnacle Entertainment Inc., though it is unclear whether they will remain in southwest Louisiana, casino officials told state gambling regulators on Monday.
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BASF again extends offer for Engelhard
Apr 17 2006 4:19PM (CT)
BERLIN (AP) - German chemical company BASF AG said Monday it is again extending its $4.9 billion takeover offer for U.S. specialty chemicals company Engelhard Corp. and has yet to decide whether it will revise its bid.
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Cigarette makers, states fight over money
Apr 17 2006 4:17PM (CT)
WASHINGTON (AP) - Tobacco companies put more than $700 million aside Monday rather than hand it over to the states in their battle over how much cigarette makers owe this year under a landmark 1998 settlement.
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Monday's commodities roundup
Apr 17 2006 4:06PM (CT)
NEW YORK (AP) - Concerns about Iran's nuclear program spurred gold to its strongest level in more than a quarter century and crude oil to its highest settlement price ever on Monday.
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HCA forecasts earnings falling in 1Q
Apr 17 2006 4:04PM (CT)
NASHVILLE, Tenn. (AP) - Hospital operator HCA Inc. said Monday it expects first-quarter earnings to fall from the year-ago period because although revenue is rising so is the number of uninsured patients.
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Toyota touts impact on U.S. in billboards
Apr 17 2006 4:03PM (CT)
CINCINNATI (AP) - For years the saying went, what's good for General Motors is good for America. Japanese automaker Toyota Motor Corp. has a new promotional campaign that says it's good for America, too.
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Check printer Deluxe hires Schram as CEO
Apr 17 2006 3:57PM (CT)
ST. PAUL (AP) - Deluxe Corp., the nation's largest check printer, said Monday it has hired NCR Corp. executive Lee Schram as its chief executive, and is counting on him to turn around its declining business.
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Knight Ridder 1Q earnings drop to $28.4M
Apr 17 2006 3:51PM (CT)
NEW YORK (AP) - Knight Ridder Inc., the newspaper publisher being sold to McClatchy Co., posted sharply lower first-quarter earnings Monday on weaker advertising, particularly at three of the 12 newspapers McClatchy is not keeping, and other factors including higher interest costs.
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Citigroup, Wachovia posts high 1Q results
Apr 17 2006 3:42PM (CT)
NEW YORK (AP) - Citigroup Inc. on Monday led two other top-10 ranked U.S. banks in reporting higher first-quarter earnings, showing that banks can offset the impact of higher interest rates through diversified businesses.
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McDonald's to tout healthier menu choices
Apr 17 2006 3:35PM (CT)
OAK BROOK, Ill. (AP) - McDonald's Corp. will promote its healthier menu choices to counter negative publicity expected from a new book co-written by the author of "Fast Food Nation," Chief Executive Jim Skinner said Monday.
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Venture capital fundraising rises in 1Q
Apr 17 2006 3:06PM (CT)
SAN FRANCISCO (AP) - Venture capitalists secured $6.53 billion for their future investments during the first quarter, putting the industry on pace to boost its fundraising efforts for the fourth consecutive year.
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Gold, silver futures hit new highs
Apr 17 2006 2:16PM (CT)
NEW YORK (AP) - Gold and silver futures soared Monday to their strongest levels in more than two decades, boosted by geopolitical concerns and a sharply softer U.S. dollar.
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Venezuela to complete buyback of bonds
Apr 17 2006 2:11PM (CT)
CARACAS, Venezuela (AP) - Venezuela plans to complete its buyback of $3.9 billion in bonds by the end of May as the world's fifth-largest exporter attempts to reduce its public debt amid high oil prices, officials said Monday.
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Citigroup shares up on strong 1Q report
Apr 17 2006 2:00PM (CT)
NEW YORK (AP) - Citigroup Inc., the nation's largest financial institution, on Monday reported its first-quarter profit rose 4 percent, beating Wall Street projections on record investment banking and international revenues.
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IMF looks at ways to remain relevant
Apr 17 2006 1:46PM (CT)
WASHINGTON (AP) - The International Monetary Fund, grappling with challenges raised by globalization, is doing some soul searching about ways it can sharpen its focus.
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Genesco stock climbs after upgrade
Apr 17 2006 1:45PM (CT)
NEW YORK (AP) - Shares of Genesco Inc. climbed Monday after JP Morgan raised its rating to "overweight" from "neutral," citing the company's dominant market position and growth potential.
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BP has 2nd pipe break at Alaska facility
Apr 17 2006 1:37PM (CT)
LONDON (AP) - British oil giant BP PLC said Monday that a second pipeline ruptured at its Alaskan facility, a month after the company reported its largest-ever spill at an oilfield on Alaska's Northern Slope.
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Bookham shares fall on lowered outlook
Apr 17 2006 1:21PM (CT)
NEW YORK (AP) - Bookham Inc. shares plunged Monday after the optical-component maker warned that a shifting product mix and charges associated with the shutdown of its British manufacturing operations would push third-quarter results below the company's expectations.
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Wachovia posts higher 1Q profit
Apr 17 2006 12:05PM (CT)
CHARLOTTE, N.C. (AP) - Wachovia Corp., the nation's fourth-largest bank, said Monday its first-quarter profit rose 7 percent, boosted by strong fee income.
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Foreign purchases of U.S. securities up
Apr 17 2006 11:40AM (CT)
WASHINGTON (AP) - Foreign purchases of U.S. securities totaled $86.9 billion in February _ their highest level in three months, according to the latest data from the Treasury Department.
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Judge: Allstate policy exclusions 'valid'
Apr 17 2006 11:35AM (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 ruled last week _ a setback for Gulf Coast policyholders whose claims were denied by the insurer.
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Tata Consultancy quarterly profit soars
Apr 17 2006 9:58AM (CT)
BOMBAY, India (AP) - India's biggest software company, Tata Consultancy Services Ltd., said Monday its quarterly profit soared 72.31 percent and annual profit increased 41.16 percent from last year.
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China reaffirms plans for currency reform
Apr 17 2006 9:05AM (CT)
BEIJING (AP) - China will push ahead with foreign-exchange reforms and allow the market to have more influence over its currency, the country's top foreign exchange regulator said in remarks published Monday.
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Hu Jintao to meet with Microsoft, Boeing
Apr 17 2006 7:23AM (CT)
SEATTLE (AP) - Chinese President Hu Jintao will kick off his visit to the United States this week by meeting with two major corporations that embody both the difficulties and the opportunities for U.S. companies in China.
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Community group challenges JPMorgan Chase
Apr 17 2006 7:03AM (CT)
NEW YORK (AP) - A community group has filed a challenge with the Federal Reserve, calling for public hearings on JPMorgan Chase & Co.'s deal for 338 Bank of New York branches in New York, New Jersey and Connecticut, the group announced Monday.
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New Jersey lamb production on the rise
Apr 17 2006 4:09AM (CT)
MOORESTOWN, N.J. (AP) - Farmer Charlene Carlisle sold her first pair of lambs 12 years ago. Now she keeps about 200 lambs, ewes and rams on her farm, where they gradually have replaced the hundreds of dairy cows her husband had raised for nearly 20 years.
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AOL, Shanghai Media to air Chinese shows
Apr 17 2006 4:07AM (CT)
SHANGHAI, China (AP) - AOL this week will begin broadcasting news programs supplied by Shanghai Media Group's broadband unit, the Shanghai company said Monday.
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S.Korea won't let timing affect trade pact
Apr 17 2006 3:59AM (CT)
SEOUL, South Korea (AP) - South Korea's top trade official vowed Monday his country won't allow a tight negotiating schedule to dictate the signing of a free trade agreement with the United States.
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Exchange-traded fund investing complex
Apr 17 2006 3:47AM (CT)
ANNANDALE, Va. (AP) - Should you invest in an exchange-traded fund that invests in initial public offerings? It's a complex question.
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With booming economy, China cuts spending
Apr 17 2006 2:35AM (CT)
BEIJING (AP) - Chinese leaders who say its booming economy is growing too fast want to cut spending on energy-guzzling factories and other wasteful projects, rather than slow its overall expansion, economists said Monday.
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Crash tests show benefit of side air bags
Apr 17 2006 2:26AM (CT)
WASHINGTON (AP) - For motorists seeking greater protection in crashes, test results released Sunday by the insurance industry show the benefits of paying for optional side air bags.
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Obesity finds niche in American marketing
Apr 17 2006 12:28AM (CT)
NEW YORK (AP) - From the cradle to the grave and most points between, obesity has found its niche in American marketing. Make that a wide berth. Baby seats, doorways and caskets are but a few examples from a long list of life's accouterments that are getting much bigger to accommodate much bigger people. There are also vacation resorts for those embarrassed to be seen in a bathing suit.
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