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Hawaii gas cap running on fumes
May 5 2006 11:36PM (CT)
HONOLULU (AP) - Gas prices keep going up everywhere, and Hawaii's unique attempt to control them is running on fumes.
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Auto incentives down last month
May 5 2006 11:35PM (CT)
DETROIT (AP) - Shane Handley wants a new car to commute to work, something smaller than the van and the sport utility vehicle currently in his garage, but he's in no hurry to buy. Instead, he's waiting for automakers to offer more generous incentives.
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Boston Herald selling suburban newspapers
May 5 2006 9:53PM (CT)
BOSTON (AP) - Herald Media Inc., parent company of the Boston Herald, is selling its chain of suburban newspapers to Liberty Group Publishing, the newspaper reported on its Web site Friday night.
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Aztar amends merger deal with Pinnacle
May 5 2006 9:35PM (CT)
LAS VEGAS (AP) - Casino operator Aztar Corp. on Friday amended its merger agreement with Pinnacle Entertainment Inc., putting the going price for the owner of the Tropicana casino-hotel at $2.58 billion, the companies said.
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Berkshire holders worry about new chief
May 5 2006 7:19PM (CT)
OMAHA, Neb. (AP) - Berkshire Hathaway Inc.'s shareholders have worried about who might succeed Chief Executive Warren Buffett for years, but Friday's multibillion-dollar acquisition might be enough to overshadow those worries at Saturday's annual meeting.
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School project becomes thriving business
May 5 2006 6:39PM (CT)
NEW ORLEANS (AP) - All Bud Brimberg was hoping for back in 1975 was a project for his entrepreneurial class and maybe a way to avoid practicing law.
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Berkshire Hathaway 1Q earnings up 70 pct.
May 5 2006 6:36PM (CT)
OMAHA, Neb. (AP) - Berkshire Hathaway Inc., billionaire Warren Buffett's investment vehicle, reported a 70 percent jump in first-quarter earnings on strong performance from its investments and insurance businesses.
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AG held in contempt in lead paint case
May 5 2006 6:21PM (CT)
PROVIDENCE, R.I. (AP) - A judge held the state attorney general in civil contempt and fined him $5,000 for publicly accusing former lead paint makers of twisting the facts during Rhode Island's landmark lawsuit against the companies, according to newly unsealed court documents.
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DOE: No pensions for new contract workers
May 5 2006 5:59PM (CT)
NEW YORK (AP) - The Department of Energy has told contractors it will no longer pay for pensions for newly hired workers, following the lead of a growing number of private employers.
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U.S. tourism promoters bypass Arab market
May 5 2006 5:35PM (CT)
DUBAI, United Arab Emirates (AP) - Promoters from 59 countries _ including Japan, Canada and England _ vied to outdo each other at a giant tourism convention this week in a bid to attract visits by big-spending Gulf Arab tourists. But the United States was absent.
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Berkshire Hathaway buys stake in Iscar
May 5 2006 5:27PM (CT)
OMAHA, Neb. (AP) - Rather than wait for Saturday's annual meeting, Warren Buffett's Berkshire Hathaway Inc. announced a multibillion-dollar acquisition Friday.
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Northstar Neuroscience climbs in debut
May 5 2006 5:20PM (CT)
WASHINGTON (AP) - Northstar Neuroscience Inc. joined an exclusive club Friday _ its IPO was one of the few early-stage medical device companies this year to perform well in its first day of trading.
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Morgan Stanley luring brokers with bonuses
May 5 2006 5:06PM (CT)
NEW YORK (AP) - Morgan Stanley is offering high-producing financial advisors a bonus of up to 200 percent of their gross revenue over the past 12 months if they jump ship from competitors to join the firm.
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DivX files IPO for $135M in common stock
May 5 2006 5:05PM (CT)
WASHINGTON (AP) - DivX Inc. filed an initial public offering Friday to sell up to $135 million in common stock, according to a filing with the Securities and Exchange Commission.
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Power Integrations may restate financials
May 5 2006 4:59PM (CT)
SAN JOSE, Calif. (AP) - Power Integrations Inc. may restate financial statements for the years 1999 through 2004 and for the first three quarters of 2005, because the circuit maker expects to record "material" non-cash charges for stock-based compensation in prior periods.
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Bonds rise on payroll data
May 5 2006 4:48PM (CT)
NEW YORK (AP) - Bond prices rose Friday, receiving a boost from a non-farm payrolls report which showed that fewer jobs were created in April than expected.
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Chrysler recalls sedans on brake problems
May 5 2006 4:33PM (CT)
WASHINGTON (AP) - DaimlerChrysler AG said Friday that it was recalling about 45,000 Chrysler 300, Dodge Charger and Dodge Magnum sedans for repairs to prevent brake fluid leakage that could lead to engine compartment fires.
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Money manager Gabelli reaches settlement
May 5 2006 4:24PM (CT)
NEW YORK (AP) - Money manager Mario Gabelli reached a settlement with a longtime investment partner under which Gabelli will pay him and another investor more than $100 million, Gabelli's company said Friday.
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Deutsche Boerse still favors tie-up
May 5 2006 4:23PM (CT)
FRANKFURT, Germany (AP) - Deutsche Boerse AG's chief financial officer said Friday the German stock exchange operator still wants a merger with Euronext NV, adding that such a combination would be in its best interest.
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Medco Health 1Q profit drops 66 percent
May 5 2006 4:22PM (CT)
TRENTON, N.J. (AP) - Prescription-benefits manager Medco Health Solutions Inc. on Friday said first-quarter profit plunged 66 percent as a charge to settle multiple legal troubles outweighed a revenue surge after a key acquisition.
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Continental CEO: No plans to close in U.S.
May 5 2006 4:19PM (CT)
FRANKFURT, Germany (AP) - German tire maker and auto-parts supplier Continental AG has no plans to close its passenger-car tire operations in the United States, the company's chief executive said Friday.
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Sara Lee in talks with Smithfield
May 5 2006 4:14PM (CT)
CHICAGO (AP) - Consumer products maker Sara Lee Corp. said Friday it is in exclusive negotiations to sell its European meats business to hog producer Smithfield Foods Inc. as part of a plan to trim fat from its diverse portfolio of food operations.
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Washington Post 1Q profit up 16 percent
May 5 2006 4:12PM (CT)
WASHINGTON (AP) - The Washington Post Co. reported a 16 percent increase in first-quarter profits Friday, fueled by increasing revenues in its online publishing and education divisions.
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Warner Music beats Street view, shares up
May 5 2006 4:12PM (CT)
LOS ANGELES (AP) - Warner Music Group Corp., home to Madonna, Green Day and other recording artists, posted a fiscal second-quarter loss on Friday, as sales of recorded music rose but revenue from music publishing fell.
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Toll Brothers' signed contracts dip in 2Q
May 5 2006 4:10PM (CT)
PHILADELPHIA (AP) - Luxury homebuilder Toll Brothers Inc. on Friday said signed contracts for its homes fell 29 percent in its second quarter and that home deliveries for the year will be 200 lower than expected as the slowing housing market takes hold.
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Ill. court won't rehear Philip Morris case
May 5 2006 4:09PM (CT)
SPRINGFIELD, Ill. (AP) - The Illinois Supreme Court said Friday it will not reconsider its decision to throw out a $10 billion verdict against tobacco manufacturer Philip Morris USA, drawing harsh criticism and promises of an appeal to the nation's highest court.
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El Paso earnings more than triple
May 5 2006 3:55PM (CT)
DALLAS (AP) - El Paso Corp., operator of the nation's largest gas pipeline system, reported first-quarter earnings more than tripled from a year ago, sending its stock price up 13 percent.
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Sanofi-Aventis 1Q profit almost triples
May 5 2006 3:48PM (CT)
PARIS (AP) - Sanofi-Aventis SA, the world's third-largest drugmaker, said Friday its first-quarter profit nearly tripled from a year ago as it benefited from strong vaccine sales, favorable currency effects and a one-time gain.
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Moody's may downgrade GM debt rating
May 5 2006 3:42PM (CT)
DETROIT (AP) - Moody's Investors Service said Friday that it is reviewing General Motors Corp.'s senior unsecured debt rating for a possible downgrade after the automaker disclosed it plans to replace or amend a $5.6 billion credit facility.
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Kodak rating placed on review by Moody's
May 5 2006 3:40PM (CT)
ROCHESTER, N.Y. (AP) - Eastman Kodak Co.'s credit rating could be downgraded by Moody's Investor Service after the photography company, saddled with high restructuring costs, said it was considering selling its health-imaging business.
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Suez shareholders OK 'poison pill'
May 5 2006 3:26PM (CT)
PARIS (AP) - French utility Suez SA on Friday gained shareholders' approval to adopt a "poison pill" anti-takeover measure aimed at fending off a possible unsolicited bid from Italian rival Enel SPA.
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Adeza shares fall after earnings
May 5 2006 3:10PM (CT)
NEW YORK (AP) - Adeza Biomedical Corp. stock fell Friday in the first day of trading after the women's health-care products company posted an earnings decline in the latest quarter.
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2 states sue Liberty Mutual
May 5 2006 2:52PM (CT)
ALBANY, N.Y. (AP) - New York and Connecticut attorneys general sued Liberty Mutual in separate actions on Friday as part of a nationwide investigation into bid-rigging in the insurance industry.
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Oil prices steady near $70 a barrel
May 5 2006 2:49PM (CT)
LONDON (AP) - Crude oil futures crept back above $70 a barrel after sinking more than $4 a barrel during the previous two sessions because U.S. government data showed an increase in gasoline supplies.
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Profit growth remains strong
May 5 2006 2:37PM (CT)
NEW YORK (AP) - A surge in consumer spending helped corporate America achieve its 16th straight quarter of double digit earnings growth, and even the return of $3-per-gallon gasoline hasn't deterred companies from issuing upbeat forecasts for future quarters.
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Houston drawn and indifferent over Enron
May 5 2006 2:20PM (CT)
HOUSTON (AP) - The fraud and conspiracy trial of Enron Corp. founder Kenneth Lay and former Chief Executive Jeffrey Skilling gave Houston tour manager Sandra Lord what she thought was a great idea: The Enron Tour.
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El Paso earnings more than triple
May 5 2006 1:25PM (CT)
DALLAS (AP) - El Paso Corp., operator of the nation's largest gas pipeline system, reported first-quarter earnings more than tripled from a year ago, sending its stock price up 10 percent.
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S. America tackles migrant worker issues
May 5 2006 12:42PM (CT)
BUENOS AIRES, Argentina (AP) - Thousands of immigrants marched through the streets, waving flags and chanting slogans demanding more rights for undocumented foreigners. "We are just workers," they yelled.
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Open Text shares fall on earnings
May 5 2006 12:16PM (CT)
TORONTO (AP) - Open Text Corp. shares fell Friday, as a slew of surprised analysts downgraded their ratings and targets on the management software company after it posted disappointing results in the latest quarter.
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Office furniture companies now leaner
May 5 2006 12:06PM (CT)
GRAND RAPIDS, Mich. (AP) - A small, new company created by Steelcase Inc. to outfit hospitals and doctor's offices is among the latest indicators that the once-ailing U.S. office furniture industry is well on the road to recovery.
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Across the globe, oil and gas at risk
May 5 2006 12:01PM (CT)
VIENNA, Austria (AP) - Unrest in Africa. Mideast insurgency and terrorism. Iran's nuclear brinkmanship. Russian pressure politics. South American resource nationalism.
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Counterfeit cigars anger manufacturers
May 5 2006 11:58AM (CT)
MIAMI (AP) - Cigar aficionados beware: those handmade Montecristos, Cohibas and Romeo y Julietas may not be the premium smokes they seem.
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Analysts skeptical of Iran oil plan
May 5 2006 11:32AM (CT)
TEHRAN, Iran (AP) - Iran took a step on Friday toward establishing an oil market denominated in euros, a plan analysts described as highly unlikely to materialize but which in theory could have serious consequences for the U.S. economy.
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LeapFrog shares fall on 1st-quarter loss
May 5 2006 10:59AM (CT)
NEW YORK (AP) - Shares of LeapFrog Enterprises Inc. fell Friday, after the educational toy maker posted a wider first-quarter loss, hurt by declining sales.
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Gold prices rise on surging euro
May 5 2006 10:57AM (CT)
CHICAGO (AP) - Gold prices rose Friday, drawing support from a U.S. jobs report that sent the euro soaring to a one-year high.
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EU ministers debate sales tax, banking
May 5 2006 10:37AM (CT)
BRUSSELS, Belgium (AP) - EU finance ministers tried Friday to ease a tax headache for companies that do business with customers in other countries, and also discussed a new push for banking rules.
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EU debates windfall tax on oil profits
May 5 2006 9:03AM (CT)
BRUSSELS, Belgium (AP) - Any windfall tax on oil companies' profits should be done on a global basis, Austria's finance minister said Friday as EU politicians joined their counterparts in the United States in debates about taking a bigger share of the industry's record profits.
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Gates doesn't want to be richest man
May 5 2006 8:24AM (CT)
REDMOND, Wash. (AP) - Most people probably dream of being the world's richest person _ except, perhaps, the man himself.
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Consumer confidence hits 7-month low
May 5 2006 6:38AM (CT)
WASHINGTON (AP) - Consumer confidence sank to a seven-month low as sticker shock from rising gasoline prices made Americans anxious about the economy's prospects and the strain on their own budgets.
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Enron trial moving into the home stretch
May 5 2006 6:33AM (CT)
HOUSTON (AP) - The fraud and conspiracy trial of former Enron Corp. chiefs Kenneth Lay and Jeffrey Skilling is moving into the home stretch.
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Cherry growers expect large harvest
May 5 2006 4:22AM (CT)
YAKIMA, Wash. (AP) - Cherry growers in the Northwest are optimistic they could top last year's record harvest _ and provide a long, cherry-filled summer for consumers.
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Leaders back Bolivia gas nationalization
May 5 2006 3:31AM (CT)
PUERTO IGUAZU, Argentina (AP) - South American leaders are making peace with Bolivia's decision to nationalize its natural gas sector, hoping to diffuse tensions sparked by the Andean nation's radical petroleum industry takeover.
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