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Contraceptive sponge to return to market
Apr 22 2005 11:45PM (CT)
TRENTON, N.J. (AP) - The Today Sponge contraceptive, pulled from the market a decade ago, will soon be back in U.S. stores after receiving regulatory approval.
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Washington University workers get deal
Apr 22 2005 8:03PM (CT)
ST. LOUIS (AP) - Students ended a 19-day sit-in Friday at Washington University after it agreed to improvements for contract workers in jobs like groundskeeping and food service.
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L.A. doctor to get $1.35B in settlement
Apr 22 2005 6:56PM (CT)
LOS ANGELES (AP) - Orthopedic surgeon Gary Michelson said Friday he is considering philanthropic alternatives for some of the $1.35 billion Medtronic Inc. plans to pay him to end a patent dispute.
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America West confirms US Air merger talks
Apr 22 2005 6:06PM (CT)
PHOENIX (AP) - America West Airlines, the nation's eighth largest carrier, confirmed Friday that it's in merger talks with US Airways, but said there's no assurance that the discussions will lead to a deal.
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Medtronic settles patent fight for $1.35B
Apr 22 2005 5:24PM (CT)
MINNEAPOLIS (AP) - Medtronic Inc. ended a long-running patent fight on Friday by agreeing to pay $1.35 billion to a Los Angeles doctor who invented much of its spinal-treatment technology.
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United, pension agency reach settlement
Apr 22 2005 5:22PM (CT)
CHICAGO (AP) - The government's pension-protection agency agreed Friday to stop fighting United Airlines' plan to eliminate its defined-benefit pension plans, removing the biggest remaining obstacle to what would be the largest pension default in U.S. history.
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Nasdaq to buy Instinet network for $934.5M
Apr 22 2005 5:12PM (CT)
NEW YORK (AP) - The Nasdaq Stock Market Inc. is purchasing Instinet Group Inc.'s electronic trading network for $934.5 million, a move designed to improve Nasdaq's position as competition grows among the world's stock markets.
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Charter execs sentenced for fraud charges
Apr 22 2005 5:07PM (CT)
ST. LOUIS (AP) - Four former executives of Charter Communications Inc. _ each expressing remorse and regret _ were sentenced Friday for their roles in schemes that artificially inflated revenues and subscriber numbers at the nation's third-largest cable television provider.
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Lawyers donated to Vioxx judge's campaign
Apr 22 2005 5:03PM (CT)
MONTGOMERY, Ala. (AP) - The judge handling the first scheduled wrongful death trial over the pain reliever Vioxx received $60,000 in campaign contributions last year from political action committees funded by the law firm that filed the suit.
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Ryanair to pay $3.57B for 70 Boeing jets
Apr 22 2005 4:49PM (CT)
NEW YORK (AP) - Irish budget airline Ryanair Holdings PLC will pay $3.57 billion for the 70 Boeing Co. airplanes it has ordered, a large discount on the listed price, the carrier said Friday.
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Danone sells control of water unit to Coke
Apr 22 2005 4:48PM (CT)
PARIS (AP) - French food company Groupe Danone SA said Friday that The Coca-Cola Co. will take full control of the joint venture that distributes water brands including Evian, Sparkletts and Dannon in North America.
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Lear plans plant closings, acquisitions
Apr 22 2005 4:47PM (CT)
CHICAGO (AP) - Auto interiors-maker Lear Corp. said it plans to close some plants this year and move them to other countries on the heels of some of the toughest times ever for the auto industry.
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MCI faces deadline on latest Qwest offer
Apr 22 2005 4:43PM (CT)
DENVER (AP) - MCI Inc. faces a Saturday deadline to decide whether to accept a freshly sweetened $9.75 billion takeover bid from Qwest Communications or stick with Verizon Communications Inc.'s $7.5 billion deal to acquire the long-distance phone company.
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Grand jury probing Wal-Mart spending
Apr 22 2005 4:34PM (CT)
LITTLE ROCK, Ark. (AP) - A federal grand jury is reviewing allegations of misspending within Wal-Mart Stores Inc., an investigation triggered by the world's largest retailer when it voluntarily handed over internal documents to the Justice Department, a company spokesman said.
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Maytag stock plunges on dive in 1Q profit
Apr 22 2005 4:24PM (CT)
DES MOINES, Iowa (AP) - Appliance maker Maytag Corp. said Friday that profit plunged in the first quarter and slashed in half its full-year forecast. The company said it will take "more aggressive steps" to restructure its manufacturing operations and cut costs, but its shares tumbled nearly 28 percent to levels not seen in a dozen years.
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Costco expects to miss views for 3Q, year
Apr 22 2005 4:19PM (CT)
ISSAQUAH, Wash. (AP) - Wholesale club operator Costco Wholesale Corp. said Friday it expects third-quarter and full-year earnings will be below Wall Street expectations, citing lower gross margins than expected due to gasoline sales. But the company increased its quarterly dividend 15 percent.
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Friday's Commodities Roundup
Apr 22 2005 4:16PM (CT)
NEW YORK (AP) - Oil prices shot above $55 a barrel Friday amid technically triggered buying and supply worries sparked by refinery snags and a terrorist attack in Saudi Arabia.
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New Monopoly game features Warren Buffett
Apr 22 2005 4:15PM (CT)
OMAHA, Neb. (AP) - If you've got $30 and some imagination, you can invest with Warren Buffett. A special edition of the "Monopoly" board game featuring Buffett and his Berkshire Hathaway Inc. companies will be unveiled next week in conjunction with Buffett's annual shareholder meeting in Omaha.
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Rite Aid announces deal with drug manager
Apr 22 2005 4:13PM (CT)
HARRISBURG, Pa. (AP) - Rite Aid Corp., the nation's third-largest pharmacy chain, said Friday that it has finalized a deal to provide pharmacy benefit management services.
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International Paper profit up on pricing
Apr 22 2005 4:07PM (CT)
STAMFORD, Conn. (AP) - Forest products company International Paper Co. on Friday said earnings rose more than 5 percent for the first quarter as the company took in higher prices for its products in North America.
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Fortune Brands profit climbs on sales
Apr 22 2005 3:59PM (CT)
LINCOLNSHIRE, Ill. (AP) - Fortune Brands Inc., a supplier of goods ranging from Jim Beam bourbon to Titleist golf balls and a partner in this week's takeover deal for British liquor company Allied Domecq PLC, said Friday its first-quarter profit grew 10 percent on higher sales.
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Freescale Semi shares up on 1Q results
Apr 22 2005 3:55PM (CT)
CHARLOTTE, N.C. (AP) - Freescale Semiconductor Inc., the former semiconductor unit of Motorola Inc. which was spun off last July, saw its stock rise Friday after the company posted first-quarter results that beat Wall Street's expectations.
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Kodak posts loss during digital transition
Apr 22 2005 3:53PM (CT)
ROCHESTER, N.Y. (AP) - Eastman Kodak Co., rushing to fortify its digital businesses as film-based photography wanes, swung to a loss and missed Wall Street forecasts by a wide margin largely because its makeover proved costlier than expected in the first quarter.
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Yellow CEO defends coming merger with USF
Apr 22 2005 3:48PM (CT)
KANSAS CITY, Mo. (AP) - The head of Yellow Roadway Corp. said Friday his transportation company can improve shareholder value by acquiring trucking company USF Corp., which reported quarterly losses earlier in the day.
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Tyco retrial focuses on bonuses
Apr 22 2005 3:46PM (CT)
NEW YORK (AP) - Prosecutors in the retrial of former Tyco International Ltd. top executives L. Dennis Kozlowski and Mark H. Swartz have sharpened their focus the second time around: zeroing in on the alleged thefts, rather than the executives' globe-trotting lifestyles.
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Scheduled shift reduction at GM postponed
Apr 22 2005 3:42PM (CT)
OKLAHOMA CITY (AP) - A scheduled shift reduction at General Motors Corp.'s Oklahoma City assembly plant has been postponed because demand has picked up for the SUVs made there, company officials announced Friday.
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3rd agency lowers Visteon's credit rating
Apr 22 2005 3:30PM (CT)
DETROIT (AP) - A third ratings agency lowered Visteon Corp.'s credit rating further into junk status Friday, citing Ford Motor Co.'s decision to lower second-quarter production. The auto supplier's stock fell to one of its lowest levels in its five-year history.
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Tobacco maker cleared in ex-smoker's suit
Apr 22 2005 2:33PM (CT)
RIVERSIDE, Calif. (AP) - A jury has cleared Philip Morris USA of liability for the lung cancer developed by a longtime smoker of Marlboro cigarettes, rejecting arguments that the tobacco maker's products caused the man's illness.
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Hollinger defaults on $93 million debt
Apr 22 2005 2:27PM (CT)
TORONTO (AP) - Hollinger Inc. Friday said it defaulted on $93 million in bonds as a result of Ravelston Corp., the parent company formerly controlled by Conrad Black, filing for protection from creditors earlier this week.
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Scrushy defense questions FBI tactics
Apr 22 2005 2:14PM (CT)
BIRMINGHAM, Ala. (AP) - The FBI's methods of investigating the huge fraud at HealthSouth Corp. came under fire Friday from lawyers for ousted CEO Richard Scrushy, charged with directing a $2.7 billion earnings overstatement.
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Court allows Parmalat suit to continue
Apr 22 2005 1:56PM (CT)
NEWARK, N.J. (AP) - A state appellate panel has rejected an attempt by Citigroup Inc. to derail a lawsuit against it by Parmalat SpA, the bankrupt Italian dairy firm beset by a fraud scandal.
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Investors buy stake in Container Store
Apr 22 2005 1:37PM (CT)
DALLAS (AP) - Billionaire financier Robert Bass and two other investors have bought a 10 percent stake in The Container Store, a retailer of storage and organizing products.
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U.S. American Airlines workers get raise
Apr 22 2005 12:07PM (CT)
FORT WORTH, Texas (AP) - Every American Airlines employee in the United States _ from baggage handler to top executive _ will get a 1.5 percent raise next month.
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Dominion CEO Capps to hand over title
Apr 22 2005 11:57AM (CT)
GLEN ALLEN, Va. (AP) - Thomas E. Capps, chairman and chief executive officer of Dominion Resources Inc., said Friday he plans to hand over the CEO title within a year.
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Putin expects BP's Russian business to grow
Apr 22 2005 11:33AM (CT)
MOSCOW (AP) - President Vladimir Putin on Friday told BP Chief Executive Lord Browne that he expects BP's business in Russia to grow _ a sign of reassurance for the company's joint venture TNK-BP that faces nearly $1 billion in back tax claims.
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Administrators take on MG Rover division
Apr 22 2005 11:32AM (CT)
LONDON (AP) - Administrators for the collapsed MG Rover Group Ltd. took another division of the company under their wing and closed more British car dealerships Friday.
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HIT says one rival bidder drops out of race
Apr 22 2005 11:23AM (CT)
LONDON (AP) - HIT Entertainment PLC, producer of children's shows "Bob the Builder" and "Barney," said Friday that one company has dropped its takeover bid, leaving just Canadian film company Lions Gate Entertainment as a possible rival to HIT's agreement with equity firm Apax Partners.
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Google stock rises on higher 1Q earnings
Apr 22 2005 11:20AM (CT)
SAN FRANCISCO (AP) - Google shares climbed nearly 6 percent in midday trading Friday after reporting sharply higher earnings for the first quarter, the latest unexpectedly strong financial report since its initial public offering of stock eight months ago.
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Lenovo Group loses top PC vendor spot
Apr 22 2005 10:57AM (CT)
HONG KONG (AP) - China's biggest personal computer company, Lenovo Group Ltd., lost its top spot as the leading PC vendor in Asia-Pacific _ excluding Japan _ in the first quarter of 2005 to Hewlett-Packard Co., the market research firm IDC Corp said.
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WTO: EU can pay subsidies to shipbuilders
Apr 22 2005 10:29AM (CT)
GENEVA (AP) - The European Union can pay subsidies to its shipbuilders to help them compete against South Korean yards, the World Trade Organization said Friday.
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Southcorp directors recommend takeover
Apr 22 2005 9:57AM (CT)
SYDNEY, Australia (AP) - Directors of Australian winemaker Southcorp Ltd. recommended on Friday that shareholders accept an improved takeover bid from Australian rival Foster's Group Ltd. in a move that would create the world's second biggest wine maker.
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Wipro full-year profits up 58 percent
Apr 22 2005 9:19AM (CT)
BANGALORE, India (AP) - India's third largest computer software exporter Wipro Ltd. said Friday its profit jumped 58 percent to $363 million in 2004 on surging demand for outsourced software and back-office services.
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Lawyer: Court cancels earlier mill decision
Apr 22 2005 9:13AM (CT)
KIEV, Ukraine (AP) - A Kiev court canceled its earlier decision to reconsider a complaint about the legality of last year's privatization of Ukraine's largest steel mill, a lawyer for the owners said Friday.
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S. Korea, U.S. fail to agree on beef ban
Apr 22 2005 8:39AM (CT)
SEOUL, South Korea (AP) - After three days of talks, the United States and South Korea failed to agree Friday on whether to lift a ban on U.S. beef imports prompted by concerns over mad cow disease, the head of an American delegation said Friday.
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Tokyo stocks bounce back moderately
Apr 22 2005 8:23AM (CT)
TOKYO (AP) - Tokyo stocks bounced back moderately Friday, bolstered by Wall Street's surge overnight and upbeat earnings from world's two top mobile-phone makers. The U.S. dollar edged lower against the yen but higher versus the euro.
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EU, U.S. agree on accounting standards
Apr 22 2005 8:21AM (CT)
BRUSSELS, Belgium (AP) - The European Union announced on Friday it reached a tentative agreement with the United States to streamline trans-Atlantic accounting standards for companies by 2009.
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Ericsson 1Q profits soar on strong sales
Apr 22 2005 8:01AM (CT)
STOCKHOLM, Sweden (AP) - Wireless equipment maker LM Ericsson on Friday reported first-quarter profits that rose 73 percent, with help from strong sales in Latin America and western Europe, but remained cautious on its outlook for the year.
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ABB posts revised losses on asbestos charge
Apr 22 2005 7:59AM (CT)
ZURICH, Switzerland (AP) - ABB Ltd. revised its fourth-quarter and full-year 2004 results on Friday, posting losses for both periods as a result of a $232 million charge related to asbestos claims against the electrical engineering company.
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EU official to advise on China probe
Apr 22 2005 7:54AM (CT)
BRUSSELS, Belgium (AP) - The European Union's trade chief announced Friday that he will ask for an investigation into Chinese textile imports, fearing measures are needed to protect Europe's domestic industry.
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Aero Vodochody wins Boeing door contract
Apr 22 2005 7:33AM (CT)
PRAGUE, Czech Republic (AP) - Czech aircraft manufacturer Aero Vodochody said Friday it won a contract from the U.S. aerospace company Boeing Co. to supply doors for its F/A-18E/F jet fighters.
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British economy grows 0.6 percent in 1Q
Apr 22 2005 6:51AM (CT)
LONDON (AP) - British economic expansion slowed marginally in the first quarter of 2005, as growth in business and financial services were held back by slower industrial production activity.
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China: current account surplus soars
Apr 22 2005 6:35AM (CT)
BEIJING (AP) - China's surplus in its broadest measure of trade and foreign investment income jumped 50 percent last year to $68.7 billion, the government said Friday.
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Dollar up, gold down in Europe
Apr 22 2005 6:07AM (CT)
LONDON (AP) - The U.S. dollar rose Friday morning against most other major currencies in European trading. Gold prices fell.
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Japan regulator restricts Citigroup unit
Apr 22 2005 6:00AM (CT)
TOKYO (AP) - Japan's financial regulator on Friday ordered Citigroup Inc.'s Japanese trust banking unit to halt all new operations as of May 2, accusing the bank of misleading inspectors with misinformation and violating accounting rules.
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Gap Inc. names new store concept
Apr 22 2005 3:40AM (CT)
NEW YORK (AP) - Gap Inc.'s new store concept catering to the over-35 woman now has a name and a launch date, company officials say.
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AP-AOL Poll: High gas prices force changes
Apr 22 2005 1:18AM (CT)
WASHINGTON (AP) - Americans feeling the impact of high gasoline prices are driving less, rearranging vacations and cutting other expenses to balance the budget.
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Whole Foods grocery store opens in N.Y.
Apr 22 2005 1:00AM (CT)
NEW YORK (AP) - The Greenmarket farmers stood behind their bins of vine-ripened tomatoes and organic spinach and eyed their colossal new neighbor on the other side of Manhattan's Union Square Park.
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