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Dollar rises against euro, yen, pound
Apr 26 2005 11:26PM (CT)
TOKYO (AP) - The dollar was higher against the yen and the euro in Asian trading early Wednesday after news that new U.S. homes sales shot up 12.2 percent last month to the highest level in history.
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Amazon.com profit declines 30 percent
Apr 26 2005 11:25PM (CT)
SAN FRANCISCO (AP) - Sales rose strongly, but net income sagged 30 percent at Amazon.com Inc. on tax expenses and a new fee-based membership program that expands the online retailer's foray into free shipping even further.
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Apple retaliates over Jobs biography
Apr 26 2005 9:59PM (CT)
SAN FRANCISCO (AP) - Apple Computer Inc. has retaliated against the publisher of an upcoming unauthorized biography about chief executive Steve Jobs by removing dozens of other technology books sold by the publisher from Apple stores around the world.
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China plans rules to curb online piracy
Apr 26 2005 9:58PM (CT)
SHANGHAI, China (AP) - China will soon enact new regulations aimed at curbing online piracy of copyrighted material that will hold Web sites responsible for stolen material, state media reported Wednesday.
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Tokyo stocks lower midday, dollar up
Apr 26 2005 9:57PM (CT)
TOKYO (AP) - Tokyo stocks declined Wednesday morning after shares fell in New York. The dollar rose against the yen and the euro.
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Gates: Microsoft may reconsider gay rights
Apr 26 2005 8:35PM (CT)
SEATTLE (AP) - Microsoft Corp. may rethink its decision to withdraw support for state legislation that would ban discrimination against gays and lesbians, Chairman Bill Gates says.
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XL Capital first-quarter net income falls
Apr 26 2005 8:16PM (CT)
NEW YORK (AP) - XL Capital Ltd.'s first-quarter net income fell 2 percent as costs outpaced an increase in revenue and underwriting profit slumped in its two largest segments.
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Hollywood Park owners eyeing sale of track
Apr 26 2005 8:14PM (CT)
INGLEWOOD, Calif. (AP) - More than six decades after it began hosting horse races, Hollywood Park's future as a racing venue has become less than certain.
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Tuesday's commodities roundup
Apr 26 2005 7:12PM (CT)
NEW YORK (AP) - Crude-oil futures in New York settled lower Tuesday as traders weighed prospects of another increase in oil supply.
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Bonds fall on strong housing report
Apr 26 2005 7:09PM (CT)
NEW YORK (AP) - Bond prices fell on Tuesday after the government reported that sales of new homes shot up 12.2 percent last month to the highest level in history.
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Photos on postage stamps to continue
Apr 26 2005 6:54PM (CT)
LOS ANGELES (AP) - After an initial test marred by computer pranksters, Stamps.com Inc. and the U.S. Postal Service are again offering people a chance to put their personal photos on postage stamps.
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Enron Jurors watch video of Skilling
Apr 26 2005 6:51PM (CT)
HOUSTON (AP) - Jurors on Tuesday watched video snippets of former Enron Corp. CEO Jeffrey Skilling painting a rosy picture of the company's broadband business to pleased Wall Street analysts more than five years ago.
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Yahoo hires former AOL executive
Apr 26 2005 6:39PM (CT)
SUNNYVALE, Calif. (AP) - Yahoo Inc., operator of the world's most visited Web site, has hired a former executive from rival America Online to help run its expanding media division.
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FTC chairwoman to sit out Valero case
Apr 26 2005 6:30PM (CT)
SAN ANTONIO (AP) - The chairwoman of the Federal Trade Commission will not take part in the antitrust review of Valero Energy Corp.'s $6.9 billion bid for rival independent oil refiner Premcor Inc. because of a conflict of interest.
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Tyco prosecutors conclude their case
Apr 26 2005 6:25PM (CT)
NEW YORK (AP) - Prosecutors on Tuesday presented their final witness in the megamillion-dollar larceny retrial of two former top Tyco International Ltd. executives.
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Steelmakers post mixed first quarter
Apr 26 2005 6:24PM (CT)
PITTSBURGH (AP) - Higher prices and demand helped steelmakers Mittal Steel Co. NV and U.S. Steel post hefty profits in the first quarter, but a potential crunch for raw materials could dampen earnings going ahead, the companies said.
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New York fund acquires Wendy's rights
Apr 26 2005 5:59PM (CT)
NEW YORK (AP) - A New York-based investment fund disclosed in a regulatory filing Tuesday that it has acquired stock and options that could give it a 9.3 percent stake in Wendy's International Inc., and that it may seek major changes at the fast-food chain.
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Nortel advances on U.S. security market
Apr 26 2005 5:29PM (CT)
TORONTO (AP) - Retired U.S. admiral Bill Owens is steering Nortel Networks Corp. into the thick of battle, selling technology to U.S. military and law-enforcement departments with a $448 million takeover of PEC Solutions Inc.
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Martha Stewart Living posts narrower loss
Apr 26 2005 5:23PM (CT)
NEW YORK (AP) - Martha Stewart Living Omnimedia Inc. reported a smaller first-quarter loss than a year ago, but the company struggled with a 13 percent revenue drop, primarily from the absence of its daily syndicated TV show while its namesake founder was in prison.
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Fed OKs acquisition of Riggs Bank parent
Apr 26 2005 5:08PM (CT)
WASHINGTON (AP) - The Federal Reserve approved the acquisition of Riggs Bank's parent by PNC Financial Services Group Inc. for some $643 million, with the old-line Washington institution stripped of the embassy and international business that got it into legal trouble over suspicious transactions.
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Merck wants wrongful death suit dismissed
Apr 26 2005 5:08PM (CT)
ASHLAND, Ala. (AP) - Lawyers for Merck & Co. asked a judge Tuesday to throw out a wrongful death lawsuit, contending the woman who said the pain reliever Vioxx caused her husband's death lied and committed fraud against the court.
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MetLife president to succeed retiring CEO
Apr 26 2005 5:07PM (CT)
NEW YORK (AP) - MetLife Inc. said Tuesday that its board unanimously chose C. Robert Henrikson to succeed Chairman and Chief Executive Robert H. Benmosche, who will retire next spring.
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American Express reports 1Q earnings rise
Apr 26 2005 5:06PM (CT)
NEW YORK (AP) - American Express Co., the consumer finance and travel company, reported a 19 percent increase in earnings for the first quarter, driven by strong growth in its card business.
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Dolan retreats from plan to shrink board
Apr 26 2005 5:05PM (CT)
NEW YORK (AP) - Charles Dolan, the founder and chairman of Cablevision Systems Corp., is backing off an earlier plan to shrink the size of the company's board and to elect three-quarters of its directors.
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Corning posts $249 million 1Q profit
Apr 26 2005 5:04PM (CT)
CORNING, N.Y. (AP) - Corning Inc., spurred by higher demand for fiber-optics equipment and ultra-thin glass used in flat-screen computers and televisions, posted a $249 million profit in the first quarter that exceeded Wall Street's revised expectations.
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Krispy Kreme extends fee deadline
Apr 26 2005 5:00PM (CT)
CHARLOTTE, N.C. (AP) - Krispy Kreme Doughnuts Inc. told federal regulators Tuesday that it has extended its deadline for negotiating a "success fee" with the turnaround specialists who were brought in to return the struggling firm to profitability.
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IBM OKs $5 billion added buyback funds
Apr 26 2005 5:00PM (CT)
NEW YORK (AP) - International Business Machines Corp. said Tuesday its board raised the company's quarterly cash dividend by 11 percent to 20 cents per share, and authorized $5 billion in additional funds for use in its stock repurchase program.
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Brunswick first-quarter profit increases
Apr 26 2005 4:58PM (CT)
LAKE FOREST, Ill. (AP) - Brunswick Corp., a maker of pleasure boats and marine engines, on Tuesday said its first-quarter profit nearly doubled from last year, bolstered by strong boat sales and a hefty gain from a stock sale.
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Wal-Mart overtime lawsuit continues
Apr 26 2005 4:57PM (CT)
DENVER (AP) - A decade-old lawsuit accusing Wal-Mart Stores Inc. of violating federal labor laws on overtime pay began a new round of federal court hearings Tuesday with attorneys for both sides fighting over how to react to a key decision earlier this year.
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Former Good Guys director settles
Apr 26 2005 4:55PM (CT)
SAN FRANCISCO (AP) - A former Good Guys Inc. director has agreed to pay nearly $150,000 to settle charges that he illegally profited from the 2003 sale of the electronics retailer after learning about confidential takeover talks while he was on the company's board of directors.
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Scrushy defense attacks secret FBI tapes
Apr 26 2005 4:52PM (CT)
BIRMINGHAM, Ala. (AP) - Richard Scrushy's lawyers on Tuesday launched their broadest attack yet on secretly made recordings that prosecutors say prove the fired HealthSouth Corp. CEO was behind a massive accounting fraud.
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Medco profit rises in first quarter
Apr 26 2005 4:50PM (CT)
TRENTON, N.J. (AP) - Medco Health Solutions Inc., one of the country's biggest managers of prescription drug programs, posted a 27 percent increase in first-quarter profit as greater use of generic drugs helped boost profit margins and offset a dip in revenue.
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U.S. Steel profit soars on strong sales
Apr 26 2005 4:48PM (CT)
PITTSBURGH (AP) - United States Steel Corp., the nation's second-largest steel producer, posted a steep rise in profit for the first quarter Tuesday as sharply higher sales outpaced an increase in operating costs.
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Lockheed Martin 1Q profit up 27 percent
Apr 26 2005 4:46PM (CT)
BETHESDA, Md. (AP) - Lockheed Martin Corp., the world's largest defense contractor, said Tuesday that first-quarter earnings rose 27 percent from a year ago and raised profit and sales guidance for fiscal 2005.
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NYSE plans to explain proposed merger
Apr 26 2005 4:43PM (CT)
NEW YORK (AP) - John Mack, a leader of the group opposing the New York Stock Exchange's planned merger with Archipelago Holdings Inc., said he spoke Tuesday with NYSE Chief Executive John Thain and won a promise from the Big Board leader to explain the deal to Wall Street firms.
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Mittal Steel's first-quarter profit soar
Apr 26 2005 4:43PM (CT)
LONDON (AP) - Mittal Steel Co. NV on Tuesday said its first-quarter profit more than doubled but warned of higher costs and lower volumes in the second quarter.
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AK Steel posts lower first-quarter profit
Apr 26 2005 4:41PM (CT)
MIDDLETOWN, Ohio (AP) - AK Steel Holding Corp. said Tuesday that its first-quarter profit plunged from the same period last year, when a hefty gain from selling assets buoyed the company's results. The company's shares fell 18 percent.
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More trouble may be found at Fannie Mae
Apr 26 2005 4:41PM (CT)
WASHINGTON (AP) - The accounting problems that have rocked Fannie Mae may run even deeper, the federal regulator overseeing the mortgage giant suggested Tuesday.
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Accuride shares steady in initial trading
Apr 26 2005 4:41PM (CT)
NEW YORK (AP) - Completing a rough road to the public markets, truck-parts maker Accuride Corp. saw its shares hold steady in initial trading Tuesday.
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IBM CEO: 'taking aggressive action'
Apr 26 2005 4:39PM (CT)
NORTH CHARLESTON, S.C. (AP) - IBM Chief Executive Samuel J. Palmisano told shareholders gathered at the annual meeting here that the company was "taking aggressive action" to remedy problems that led to a first-quarter earnings shortfall.
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Merck shareholders criticize executives
Apr 26 2005 4:38PM (CT)
NORTH BRANCH, N.J. (AP) - Merck shareholders, who have seen their stock plummet since the company withdrew its blockbuster pain medicine Vioxx from the market, used their annual meeting Tuesday to criticize executives.
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Level 3 Communications narrows loss
Apr 26 2005 4:13PM (CT)
DENVER (AP) - Information services provider Level 3 Communications Inc. said Tuesday it narrowed its net loss in the first quarter, crediting higher revenues from the communications business.
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Sara Lee posts sharply lower 3Q profit
Apr 26 2005 4:11PM (CT)
CHICAGO (AP) - Sara Lee Corp., the meats and baked goods manufacturer, reported a 50 percent drop in third-quarter earnings Tuesday as sales continue to sag while it works on a corporate overhaul.
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Spitzer to probe AIG workers' comp payments
Apr 26 2005 4:05PM (CT)
ALBANY, N.Y. (AP) - New York Attorney General Eliot Spitzer on Tuesday said he will audit American International Group Inc. over reports that AIG improperly booked workers' compensation premiums, providing an "unlawful benefit" to the company worth tens of millions of dollars.
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Meredith earnings rise 15 percent
Apr 26 2005 4:03PM (CT)
DES MOINES, Iowa (AP) - Meredith Corp. on Tuesday reported third-quarter earnings of $35.2 million, or 69 cents per share, up 15 percent from a year ago in an improving advertising climate.
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Occidental 1Q profit soars 74 percent
Apr 26 2005 4:03PM (CT)
LOS ANGELES (AP) - Occidental Petroleum Corp. said Tuesday that higher oil and gas prices drove up its first quarter profits by 74 percent.
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Delta at risk for bankruptcy filing
Apr 26 2005 3:57PM (CT)
ATLANTA (AP) - Delta Air Lines Inc. dodged a bankruptcy filing last fall thanks to deep concessions from pilots and fresh financing from creditors.
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French court orders DVDs off store shelfs
Apr 26 2005 3:37PM (CT)
PARIS (AP) - A French court has ordered DVD vendors to pull copies of the David Lynch film "Mulholland Drive" off store shelves as part of an unprecedented ruling against copy prevention techniques.
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ImClone posts lower first-quarter earnings
Apr 26 2005 3:36PM (CT)
NEW YORK (AP) - ImClone Systems Inc., the maker of colon cancer treatment Erbitux, said Tuesday that first-quarter earnings fell sharply from a year ago due to lower revenue, higher compensation expenses associated with increased headcount and higher professional fees, primarily for accounting and tax services.
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Schlumberger profit more than doubles in 1Q
Apr 26 2005 3:36PM (CT)
NEW YORK (AP) - Oil field services company Schlumberger Ltd. on Tuesday said first-quarter earnings more than doubled on strong activity and pricing in North America and improved revenue.
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Higher volume lifts profit at Chicago Merc
Apr 26 2005 3:31PM (CT)
CHICAGO (AP) - Chicago Mercantile Exchange Holdings Inc. reported Tuesday that first-quarter profit surged 54 percent as electronic trading helped boost volume at the futures market.
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RealNetworks offering some free tunes
Apr 26 2005 3:25PM (CT)
NEW YORK (AP) - RealNetworks Inc., facing intense competition from file-swapping networks and from Apple Computer Inc., will let people listen to 25 music tracks for free each month in hopes of enticing music-lovers to pay for more tunes.
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Even modern test flights never risk free
Apr 26 2005 3:19PM (CT)
BLAGNAC, France (AP) - In the wartime heyday of aviation legends like Howard Hughes, and even into the 1960s, a pilot couldn't be sure how a prototype plane would fly until she was airborne.
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China bank to help build Brazil pipeline
Apr 26 2005 2:40PM (CT)
SAO PAULO, Brazil (AP) - Brazil's state-owned petroleum company said Tuesday it has closed a deal with the Chinese Export-Import Bank to finance the construction of a $1.2 billion natural gas pipeline.
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Andersen pays $65M for WorldCom claims
Apr 26 2005 2:38PM (CT)
NEW YORK (AP) - Decimated auditing firm Arthur Andersen LLP paid $65 million Tuesday to settle claims that it should have sniffed out the record-breaking fraud at the telecommunications company WorldCom.
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Feds give banks guidance on risk
Apr 26 2005 2:33PM (CT)
WASHINGTON (AP) - Banks are receiving guidance to help them better gauge whether check cashers, money transmitters and other people who use their services may be vulnerable to money-launderers or terrorist financiers.
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Wrigley 1Q profit up on Joyco acquisition
Apr 26 2005 1:33PM (CT)
CHICAGO (AP) - Wm. Wrigley Jr. Co., the nation's largest chewing gum manufacturer, said Tuesday that first-quarter profit jumped 18 percent, helped by increased shipments and its acquisition of Spanish candy maker Joyco. The results easily beat Wall Street forecasts.
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Univ. says losing 'ag' may broaden appeal
Apr 26 2005 1:07PM (CT)
OMAHA, Neb. (AP) - The University of Nebraska's agriculture college is swapping seeds for semantics as it considers dropping 'ag' from its name to boost sagging enrollment numbers.
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A380 set for maiden flight before 50,000
Apr 26 2005 1:04PM (CT)
BLAGNAC, France (AP) - After 11 years of preparation and $13 billion in spending, the world's largest passenger plane, the Airbus A380, is scheduled to fly for the first time on Wednesday.
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Jury selection begins in late-trading case
Apr 26 2005 1:03PM (CT)
NEW YORK (AP) - Jury selection began Tuesday in the trial of a former Bank of America broker on charges that he stole millions from investors through illegal trading.
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Deloitte pays $50M to settle Adelphia case
Apr 26 2005 12:58PM (CT)
WASHINGTON (AP) - Deloitte & Touche LLP on Tuesday agreed to pay $50 million to settle charges that it failed to detect a massive accounting fraud at Adelphia Communications Corp., a company that it deemed one of its riskiest clients.
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Lawyers in Perelman case want mistrial
Apr 26 2005 12:45PM (CT)
WEST PALM BEACH, Fla. (AP) - Attorneys for Morgan Stanley repeated their motion for a mistrial on Tuesday, a day after three jurors in a $2.7 billion fraud case against the investment firm told the judge they had been approached by a man who questioned them about the case.
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EU clears Dow Chemical acquisition
Apr 26 2005 12:03PM (CT)
BRUSSELS, Belgium (AP) - European Union regulators Tuesday cleared Dow Chemical Co.'s acquisition of parts of DuPont Dow Elastomers LLC, a joint venture Dow has run with DuPont Co. since 1996.
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BP profit gets boost from oil prices
Apr 26 2005 11:56AM (CT)
LONDON (AP) - BP Group PLC, one of the world's largest oil companies, said Tuesday that quarterly profits rose by 35 percent, boosted by higher oil prices and a small increase in production that outweighed lower retail marketing margins.
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Sainsbury says new rules to cut profit
Apr 26 2005 11:52AM (CT)
LONDON (AP) - Supermarket group J Sainsbury PLC said Tuesday that it expects new accounting rules to cut its pretax profit for the year ended March 2005 by up to 10 million pounds ($19.1 million).
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Share prices close lower
Apr 26 2005 11:49AM (CT)
LONDON (AP) - Share prices were lower on the London Stock Exchange Tuesday.
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Toyota to build assembly plant in Russia
Apr 26 2005 11:08AM (CT)
ST. PETERSBURG, Russia (AP) - Toyota Motor Corp. said Tuesday it will build a car assembly plant near St. Petersburg, looking to capture growing demands by Russian consumers for cars.
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Syngenta sales rise on acquisition
Apr 26 2005 11:02AM (CT)
BASEL, Switzerland (AP) - Agrochemical company Syngenta AG said Tuesday its first-quarter sales rose 24 percent to $2.85 billion, due to the acquisition of seeds businesses in the United States.
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TeliaSonera reports lower 1Q profit
Apr 26 2005 11:00AM (CT)
STOCKHOLM, Sweden (AP) - TeliaSonera Corp., the Nordic region's largest telecommunications operator, said Tuesday its first-quarter profit dipped 2 percent, blamed mainly on a decline in Finnish operations. The company said earnings improved in other markets, including Turkey and Russia.
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Maker of Swiss army knives buys rival
Apr 26 2005 10:41AM (CT)
DELEMONT, Switzerland (AP) - Victorinox, a name famous for its presence on Swiss army knives sold around the world, has bought its smaller rival, the family run firm Wenger, the two companies said Tuesday.
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EU regulators clear WMC acquisition
Apr 26 2005 10:32AM (CT)
BRUSSELS, Belgium (AP) - European Union regulators on Tuesday approved the acquisition of Australian miner WMC Resources Ltd. by Anglo-Australian mining company BHP Billiton Ltd.
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Monster Worldwide posts higher 1Q profit
Apr 26 2005 10:31AM (CT)
NEW YORK (AP) - Monster Worldwide Inc., operator of the world's largest job search Web site, said Tuesday that first-quarter earnings rose 66 percent year-over-year.
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Bowater posts profit on one-time gains
Apr 26 2005 10:29AM (CT)
GREENVILLE, S.C. (AP) - Bowater Inc. said Tuesday that higher newsprint prices and one-time gains, including $11 million from the sale of assets, helped the company post positive earnings in the first quarter.
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Thomson first-quarter profit doubles
Apr 26 2005 10:27AM (CT)
STAMFORD, Conn. (AP) - Thomson Corp., a provider of business information services, said Tuesday that first-quarter profit doubled on higher revenue from existing businesses, acquisitions made in 2004 and favorable exchange rates.
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7-Eleven quadruples profit in 1Q
Apr 26 2005 10:25AM (CT)
DALLAS (AP) - Convenience store operator 7-Eleven Inc. on Tuesday posted a fourfold increase in first-quarter profit as gasoline and merchandise sales rose sharply. The company also raised its projection for annual earnings.
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DuPont earnings grow on improved margins
Apr 26 2005 10:24AM (CT)
WILMINGTON, Del. (AP) - DuPont Co., the nation's third-largest chemical maker, said Tuesday that first-quarter earnings grew sharply from a year ago as improved margins offset increased energy and raw materials costs, but still missed Wall Street estimates.
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McGraw-Hill 1Q earnings rise 4 percent
Apr 26 2005 10:22AM (CT)
NEW YORK (AP) - McGraw-Hill Cos., a major textbook publisher, reported Tuesday that its first-quarter earnings rose 4 percent on strong results from its financial services business.
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EU asks nations to lift some biotech bans
Apr 26 2005 10:13AM (CT)
BRUSSELS, Belgium (AP) - The European Union's head office on Tuesday asked five EU governments to lift bans on a range of biotech crops that have been cleared by the bloc's food safety agency.
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Ex-Yukos unit may remain with Rosneft
Apr 26 2005 9:50AM (CT)
MOSCOW (AP) - A giant production unit that used to belong to the Yukos oil company could remain under the control of state-controlled Rosneft instead of being spun off into a separate company, Russia's economic minister said Tuesday.
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BASF to sell polystyrene business
Apr 26 2005 9:48AM (CT)
BERLIN (AP) - Chemical maker BASF AG said Tuesday it is selling its polystyrene business in the United States and Canada to British-based chemical company INEOS.
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Hilton Hotels 1Q profit soars 73 percent
Apr 26 2005 9:34AM (CT)
BEVERLY HILLS, Calif. (AP) - Hilton Hotels Corp. said Tuesday that its first-quarter earnings surged 73 percent on strong business travel growth, and the company raised its outlook for fiscal 2005.
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Lanxess reports reduced loss in 2004
Apr 26 2005 9:12AM (CT)
FRANKFURT, Germany (AP) - Chemical company Lanxess AG announced Tuesday that it narrowed its net loss last year and said it was preparing a restructuring drive that might include up to 1,200 job cuts.
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InBev posts volume growth in Latin America
Apr 26 2005 8:45AM (CT)
BRUSSELS, Belgium (AP) - InBev SA, the world's largest beer producer, reported mixed results for the first quarter of the year, with volume declines in the traditional markets of western Europe and the United States dragging down encouraging results in Latin America.
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Eurotunnel posts $1.05B net loss for 2004
Apr 26 2005 7:25AM (CT)
PARIS (AP) - Heavily indebted Eurotunnel SA posted a net loss of 810 million euros ($1.05 billion) for 2004, after 1.89 billion euros ($2.45 billion) of losses the year before, and said Tuesday it could run out of money in 2007.
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German economists slash growth forecast
Apr 26 2005 6:39AM (CT)
BERLIN (AP) - Leading German economists on Tuesday slashed their growth forecasts for Europe's biggest economy, predicting that it would expand by only 0.7 percent this year as a less robust world economy and the strong euro sap exports.
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Infineon posts loss on charges
Apr 26 2005 6:24AM (CT)
FRANKFURT, Germany (AP) - Chipmaker Infineon Technologies AG said Tuesday it turned to a net loss in its fiscal second quarter because of restructuring charges and losses at its communications division.
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Honda 4Q profits climb on surging sales
Apr 26 2005 6:13AM (CT)
TOKYO (AP) - Japanese automaker Honda Motor Co. said Tuesday that its profits rose 27 percent in its fourth fiscal quarter as surging sales offset the damage from an unfavorable exchange rate. Full-year profit rose 5 percent as Honda reported its fourth consecutive year of record sales. It forecast a decline in earnings but higher sales this year.
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Toyota exec urges Japan cos. to up prices
Apr 26 2005 6:06AM (CT)
TOKYO (AP) - Toyota's chairman is urging Japanese automakers to raise prices or find other ways to even the playing field with ailing U.S. rivals General Motors and Ford in hopes of heading off a possible protectionist backlash in the crucial North American market.
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Fresh Del Monte posts higher 1Q profit
Apr 26 2005 5:45AM (CT)
CORAL GABLES, Fla. (AP) - Fresh Del Monte Produce Inc., a top banana and pineapple producer, said Tuesday that first-quarter earnings grew 23 percent year-over-year as strong revenue growth helped offset significant increases in operating costs.
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Adelphia to pay $700M to resolve probe
Apr 26 2005 2:22AM (CT)
WASHINGTON (AP) - Adelphia Communications Corp. has agreed to pay $715 million to settle a federal investigation into the accounting fraud and looting fiasco that led to the collapse of the fifth-largest cable television company in the country.
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VCs invest $4.6 billion in first quarter
Apr 26 2005 2:15AM (CT)
SAN FRANCISCO (AP) - Venture capitalists invested $4.63 billion during the first three months of 2005, an 8 percent drop from a year ago and the third consecutive quarterly decline. But analysts dismissed the recent trend as an insignificant blip, saying investors are being more judicious in the aftermath of the dot-com bust.
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