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Toyota president steps down amid lawsuit
May 8 2006 11:27PM (CT)
TOKYO (AP) - The president and CEO of Toyota Motor North America, who was accused last week in a sexual harassment lawsuit, is leaving the post, the automaker said Tuesday.
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China plans to open 48 new airports
May 8 2006 10:02PM (CT)
BEIJING (AP) - China plans to open 48 new airports over the next five years as it sharply boosts investment in air travel amid surging passenger traffic, a government newspaper reported Tuesday.
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Japanese stocks down; Dollar remains weak
May 8 2006 9:54PM (CT)
TOKYO (AP) - Japan's benchmark stock index fell at midday Tuesday, as the slide in the dollar-yen exchange rate depressed stocks sensitive to commodity and currency prices.
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Janus CEO buys nearly $1.5M in shares
May 8 2006 9:36PM (CT)
NEW YORK (AP) - Janus Capital Group Inc. CEO Gary Black bought nearly $1.5 million of the mutual fund company's stock in the open market on Friday, a Janus spokeswoman confirmed Monday.
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GM to stop selling Opel cars in Japan
May 8 2006 9:02PM (CT)
TOKYO (AP) - General Motors, which has been struggling to revive its business, will stop selling Opel vehicles in Japan, the U.S. automaker's Japan unit said Tuesday.
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Gov't may exclude hospital from Medicare
May 8 2006 8:48PM (CT)
SAN DIEGO (AP) - The federal government moved Monday to exclude Alvarado Hospital Medical Center from participating in the Medicare and Medicaid programs because of allegations of kickbacks paid to doctors.
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Agency downgrades Puerto Rico bond rating
May 8 2006 7:50PM (CT)
SAN JUAN, Puerto Rico (AP) - A key Puerto Rican bond was downgraded to one notch above junk status on Monday in response to a government-crippling budget impasse, likely forcing the U.S. territory to pay higher interest rates.
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Ex-Gemstar CEO ordered to pay $22.3M
May 8 2006 7:48PM (CT)
LOS ANGELES (AP) - A federal judge on Monday ordered the former CEO of Gemstar-TV Guide International Inc. to pay $22.3 million in fines and penalties in an investment fraud case.
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Jobs stake in Disney valued at $3.9B
May 8 2006 7:05PM (CT)
LOS ANGELES (AP) - Steve Jobs, the former chief executive of Pixar Animation Studios Inc., has received shares in The Walt Disney Co. worth $3.9 billion as part of Disney's acquisition of Pixar, according to a regulatory filing Monday.
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GM sees 1Q profit after accounting change
May 8 2006 5:38PM (CT)
DETROIT (AP) - General Motors Corp. said Monday it made a profit in the first quarter of this year thanks to a change in how it accounts for a health care agreement and other items.
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List of rebuttal witnesses in Enron trial
May 8 2006 5:36PM (CT)
HOUSTON (AP) - Here is a list of the final three witnesses who testified as government rebuttal witnesses against Enron Corp. founder Kenneth Lay and former Chief Executive Jeffrey Skilling:
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List of defense witnesses in Enron trial
May 8 2006 5:32PM (CT)
HOUSTON (AP) - Here is a list of the 29 defense witnesses who testified in the fraud and conspiracy trial of Enron founder Kenneth Lay and Jeffrey Skilling:
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GAO: Sarbanes-Oxley costs are high
May 8 2006 5:28PM (CT)
WASHINGTON (AP) - A new report by congressional auditors finds that the costs for public companies to comply with a 2002 anti-fraud law have been higher than anticipated, providing ammunition to business interests that have been complaining about the law's impact.
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Chipotle 1Q profit jumps on higher sales
May 8 2006 5:27PM (CT)
DENVER (AP) - Chipotle Mexican Grill Inc. said Monday its first-quarter profit more than tripled and credited publicity over its initial public offering, mild weather and better execution at its restaurants.
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Skilling, Lay optimistic as testimony ends
May 8 2006 5:26PM (CT)
HOUSTON (AP) - After 54 witnesses in more than three months, testimony ended Monday in the federal fraud and conspiracy trial of Enron Corp. founder Kenneth Lay and former Chief Executive Jeffrey Skilling.
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Northwest begins baggage handler talks
May 8 2006 5:07PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. and its baggage handlers resumed talks on Monday, under the threat of a trial next week that could result in the bankrupt carrier rejecting that union contract altogether.
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Bonds nearly flat; market waits for Fed
May 8 2006 5:04PM (CT)
NEW YORK (AP) - Bond prices ended little changed Monday, as traders and investors waited to hear about the outcome of the Federal Reserve's policy meeting later in the week.
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Golden West strikes gold with principles
May 8 2006 4:45PM (CT)
SAN FRANCISCO (AP) - Herbert and Marion Sandler are the few chief executives who wouldn't look out of place in a Norman Rockwell painting, even though they can now afford to live like Rockefellers after striking a deal to sell Golden West Financial Corp. to Wachovia Corp. for $24.2 billion.
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Mirant to spend $130M to cut pollution
May 8 2006 4:34PM (CT)
WASHINGTON (AP) - Mirant Corp. will spend more than $130 million on new pollution controls at four power plants in Maryland and Virginia under an agreement reached Monday between the company and state and federal governments.
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Calif. says R.J. Reynolds to pay $5M
May 8 2006 4:27PM (CT)
LOS ANGELES (AP) - R.J. Reynolds Tobacco Co. agreed to pay $5 million to settle a lawsuit brought by California over cigarette giveaways at six public events, the attorney general's office said Monday.
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Study: Number of drugs entering testing up
May 8 2006 4:19PM (CT)
NEW YORK (AP) - The number of drugs that entered clinical testing surged 52 percent in the three years ended in 2005, signaling the pharmaceutical industry may be emerging from its research and development drought, according to a study released Monday.
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Silicon Graphics files for Chapter 11
May 8 2006 4:13PM (CT)
WASHINGTON (AP) - Silicon Graphics Inc. has filed for Chapter 11 bankruptcy protection, after a group of bondholders agreed to trade their debt for a stake in the company.
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SunTrust to provide free credit monitoring
May 8 2006 4:08PM (CT)
NEW YORK (AP) - SunTrust Banks Inc., which operates branches on the Eastern seaboard from Florida to Maryland, said Monday it will offer free credit monitoring to its checking account customers.
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Chavez tax targets foreign oil companies
May 8 2006 4:03PM (CT)
CARACAS, Venezuela (AP) - Venezuelan President Hugo Chavez is targeting foreign oil companies again _ this time with a new tax aimed at lucrative projects in the oil-rich Orinoco River basin.
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Dollar falls to new low against yen
May 8 2006 3:57PM (CT)
NEW YORK (AP) - The dollar slipped to a new seven-month low against the yen as the U.S. currency felt the aftershocks from Friday's employment report which showed sluggish job growth.
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Monday's commodities roundup
May 8 2006 3:55PM (CT)
NEW YORK (AP) - Gold prices dropped after hitting a new quarter-century high on Monday, following a potential ease in the tension between Iran and the United States.
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Teck Cominco makes takeover bid for Inco
May 8 2006 3:53PM (CT)
VANCOUVER, British Columbia (AP) - Teck Cominco Ltd. said Monday it would offer 17.8 billion Canadian dollars ($16.1 billion) for Inco Ltd. on the condition that the Canadian nickel miner drops its deal for rival Falconbridge Ltd.
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Oil prices fall as supply worries lessen
May 8 2006 3:52PM (CT)
NEW YORK (AP) - Crude oil futures prices dropped below $70 a barrel Monday on rising U.S. gasoline supplies and a letter from Iran's leader to President Bush proposing "new solutions" to escalating tensions.
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EADS shares rise after Merrill upgrade
May 8 2006 3:52PM (CT)
PARIS (AP) - Shares in European Aeronautic Defence and Space Co. rose Monday after Merrill Lynch upgraded its rating on the stock, citing expectations that its civil jet unit Airbus will announce a redesign of its mid-sized A350 plane.
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Spitzer: H&R Block knew of bad advice
May 8 2006 3:49PM (CT)
ALBANY, N.Y. (AP) - New York Attorney General Eliot Spitzer on Monday said he has evidence that H&R Block executives not only knew they were pushing customers to buy money-losing retirement account plans, but penalized employees who refused to recommend them.
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Dell warns 1Q earnings will miss mark
May 8 2006 3:48PM (CT)
SAN JOSE, Calif. (AP) - Computer maker Dell Inc. said Monday first-quarter results will miss earnings targets, blaming the shortfall on "pricing decisions."
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United Airlines parent sees wider 1Q loss
May 8 2006 3:43PM (CT)
CHICAGO (AP) - United Airlines parent UAL Corp. reported a wider first-quarter loss Monday despite the completion of its 38-month bankruptcy overhaul, blaming the shortfall on record fuel prices, stock-based compensation expense and a change in accounting methods.
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Emmis shares soar as CEO bids to buy co.
May 8 2006 3:40PM (CT)
INDIANAPOLIS (AP) - A week after losing a bid to buy the Washington Nationals baseball team, the chief executive of Emmis Communications Corp. said Monday he will try to purchase the media group in a deal valued at $567 million.
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Wachovia shares fall on Golden West deal
May 8 2006 3:35PM (CT)
SAN FRANCISCO (AP) - Wachovia Corp., the nation's fourth largest bank, is muscling into the West with a $24.2 billion deal to buy Golden West Financial Corp., a mom-and-pop shop that blossomed into a prized savings and loan.
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Thermo Electron, Fisher Scientific in deal
May 8 2006 3:32PM (CT)
BOSTON (AP) - Thermo Electron Corp. said Monday it will acquire the larger Fisher Scientific International Inc. for $10.6 billion in stock, in a deal to carve out a bigger share of the laboratory supplies business by offering the market's broadest range of products.
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CNN's Cooper to contribute to '60 Minutes'
May 8 2006 2:55PM (CT)
NEW YORK (AP) - Anderson Cooper will contribute five stories a year to "60 Minutes" on CBS in an arrangement that also allows CNN to rebroadcast those reports, both networks said Monday.
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Texas oilman seeks dismissal of charges
May 8 2006 2:52PM (CT)
NEW YORK (AP) - Lawyers for Texas oilman Oscar S. Wyatt Jr. argue in court papers filed Monday that conspiracy charges against him should be dropped because they were brought only in retaliation for his being "a persistent and vocal critic of U.S. policy."
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Barr launches menopause treatment
May 8 2006 2:47PM (CT)
WOODCLIFF LAKE, N.J. (AP) - Drug maker Barr Pharmaceuticals Inc. said it has launched a plant-derived line of estrogen tablets for treating moderate-to-severe menopause symptoms such as hot flashes and night sweats.
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Rates at weekly Treasury auction rise
May 8 2006 2:45PM (CT)
WASHINGTON (AP) - Interest rates on short-term Treasury bills rose in Monday's auction to the highest levels since early 2001.
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Gold falls from fresh high
May 8 2006 2:33PM (CT)
NEW YORK (AP) - Gold prices dropped after hitting a new quarter-century high on Monday, following a potential ease in the tension between Iran and the United States.
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Newspaper circulation down, Web readers up
May 8 2006 2:24PM (CT)
NEW YORK (AP) - Daily circulation fell 2.5 percent at U.S. newspapers in the six-month period ending in March, according to data released Monday, reflecting the industry's ongoing struggle to retain paying customers amid competition from the Internet and other media outlets.
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Once-flat beer sales beginning to revive
May 8 2006 2:13PM (CT)
CHICAGO (AP) - Beer sales had gone flat, while wine was flying off the shelves. So beer makers decided to steal a page from wine's marketing manual and create new packaging, flavors and drinks. Now beer is coming back.
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Buffett's Israeli acquisition born in shed
May 8 2006 2:03PM (CT)
JERUSALEM (AP) - Israeli industrialist Stef Wertheimer couldn't even afford a lathe when he started his cutting tools company in 1952 in a backyard shed.
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Trade between North Korea, China surges
May 8 2006 12:14PM (CT)
SEOUL, South Korea (AP) - Trade between North Korea and China rose to a record last year as the North becomes increasingly dependent on its No. 1 trade partner for food and energy, a South Korean trade agency said Monday.
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Roche issues guide to avoid fake Tamiflu
May 8 2006 12:13PM (CT)
BASEL, Switzerland (AP) - Swiss pharmaceuticals company Roche Holding AG said Monday it has issued guidelines for consumers on how to avoid counterfeit versions of its anti-influenza drug Tamiflu.
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EU forecasts economy to rebound this year
May 8 2006 12:02PM (CT)
BRUSSELS, Belgium (AP) - The European Union head office predicted Monday that the EU economy would rebound to expand by 2.3 percent this year, boosted by increased investment and sustained world growth.
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SEC program to protect older investors
May 8 2006 11:59AM (CT)
WASHINGTON (AP) - Federal and state securities regulators on Monday announced a joint program designed to protect senior citizens from investment fraud.
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New Orleans real estate market booming
May 8 2006 11:56AM (CT)
NEW ORLEANS (AP) - The 2,200-square-foot house promises three spacious bedrooms and two-and-a-half baths _ a bargain at $175,000. Except for the fact that the home, located in one of this city's previously elegant neighborhoods, has been gutted to the studs and has no drywall, no wallboard, no fixtures.
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Shell Canada makes $2.2B bid for BlackRock
May 8 2006 11:56AM (CT)
CALGARY (AP) - Shell Canada Ltd. announced Monday it has struck a friendly $2.2 billion deal to acquire BlackRock Ventures Inc., a Calgary-based heavy oil producer with significant operations in Northern Alberta.
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Bonds fall slightly at midday
May 8 2006 11:27AM (CT)
NEW YORK (AP) - Bond prices slipped slightly at midday Monday, with many traders staying on the sidelines as the market awaits an upcoming policy statement from the Federal Reserve.
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Statoil reports record quarterly profit
May 8 2006 11:23AM (CT)
OSLO, Norway (AP) - Oil company Statoil ASA said Monday its first-quarter profit rose more than 50 percent on high oil prices to set a quarterly high.
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Congress to get China currency report
May 8 2006 11:16AM (CT)
WASHINGTON (AP) - The Bush administration said it will send Congress its report on China's currency practices on Wednesday, a report that American manufacturers hope will brand the country a "currency manipulator."
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Deutsche Telekom workers hold strikes
May 8 2006 11:14AM (CT)
BERLIN (AP) - Workers at Deutsche Telekom AG briefly walked off their jobs Monday before a fourth round of wage talks for 110,000 employees at Europe's largest telecommunications company.
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China exports subject to most penalties
May 8 2006 11:03AM (CT)
GENEVA (AP) - Governments imposed more penalties against China than any other member of the World Trade Organization for allegedly selling exports below market price in 2005, the commerce body said Monday.
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Mongolia sits on gold and copper bonanza
May 8 2006 9:25AM (CT)
ULAN BATOR, Mongolia (AP) - Under the Gobi Desert lies a potential treasure. The gold and copper deposits at Oyu Tolgoi, or Turquoise Hill, are among the largest ever found and could give impoverished Mongolia its biggest boost since it abandoned communism 15 years ago _ if the Mongolians can figure out how to profit from it.
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Dubai to build 2nd airport to keep pace
May 8 2006 8:46AM (CT)
DUBAI, United Arab Emirates (AP) - A patch of empty desert being flattened by bulldozers outside this fast-sprawling city could eventually become one of the world's largest airports, officials here say.
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China shares surge after moratorium ends
May 8 2006 6:11AM (CT)
SHANGHAI, China (AP) - Chinese stocks surged to their highest level in nearly two years Monday after Beijing ended a yearlong moratorium on new share sales by companies already traded on its exchanges, though plans for resuming initial public offerings remained unclear.
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Gasoline prices in Japan hit 15-year high
May 8 2006 4:36AM (CT)
TOKYO (AP) - The average retail gasoline price in Japan has risen to the highest level in more than 15 years amid surging crude oil prices, a government-commissioned oil research institute said Monday.
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Report: China plans major port projects
May 8 2006 3:49AM (CT)
SHANGHAI, China (AP) - China plans a major new port project on its southeastern coast near Taiwan, a step toward what it hopes will be "free trade" with the self-ruled island Beijing claims as its own, state media reported Monday.
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N.D. pushing ahead with hemp farming rules
May 8 2006 3:28AM (CT)
BISMARCK, N.D. (AP) - North Dakota is pushing ahead with plans to license state farmers to grow industrial hemp even as it tries to allay law enforcement fears about marijuana's biological cousin.
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Garbage haulers OK contracts, avoid strike
May 8 2006 12:23AM (CT)
SEATTLE (AP) - Garbage haulers approved new contracts Sunday night, avoiding a strike that could have affected millions of customers in King and Snohomish counties.
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