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11 indicted in Ky. illegal immigrant case
May 12 2006 11:33PM (CT)
LOUISVILLE, Ky. (AP) - A federal grand jury has indicted 11 more people tied to a northern Kentucky construction company being investigated for hiring and harboring illegal immigrants.
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General Motors to end Hummer H1 production
May 12 2006 8:24PM (CT)
DETROIT (AP) - Get ready to say goodbye to the Hummer H1, the hulking, gas-guzzling status symbol that has attracted celebrities and off-road enthusiasts but has drawn the ire of environmentalists.
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Number of fungal eye infection cases rises
May 12 2006 7:18PM (CT)
ROCHESTER, N.Y. (AP) - The number of confirmed cases of a rare fungal eye infection that can cause blindness has climbed to 122, most of them contact-lens wearers who reported using Bausch & Lomb Inc.'s newest lens cleaner, federal authorities said Friday.
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Taser to delay filing 1Q earnings report
May 12 2006 7:15PM (CT)
PHOENIX (AP) - Stun-gun maker Taser International Inc. said Friday it will delay filing its first-quarter financial report after finding it used incorrect methods to calculate manufacturing expenses and a clerical error.
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Gas crisis hurts Brazil-Bolivia relations
May 12 2006 6:09PM (CT)
SAO PAULO, Brazil (AP) - Relations between Brazil and Bolivia sank to their lowest point in a century Friday, as the two sparred over Bolivia's nationalization of its energy sector and threats to seize Bolivian land held by Brazilian farmers.
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Two NYSE trade specialists plead guilty
May 12 2006 5:26PM (CT)
NEW YORK (AP) - Two specialists who supervised trades on the floor of the New York Stock Exchange pleaded guilty Friday to securities fraud in what a prosecutor called a "groundbreaking" development in a new area of prosecution.
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U.S. wants to extend Microsoft oversight
May 12 2006 5:18PM (CT)
WASHINGTON (AP) - Citing Microsoft Corp.'s lapses under part of a landmark antitrust settlement, the Justice Department said Friday it wants to extend by two years its oversight of some of the company's business practices until at least November 2009.
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Duke Energy to sell or dispose of unit
May 12 2006 5:10PM (CT)
CHARLOTTE, N.C. (AP) - Duke Energy Corp. said Friday it will sell or otherwise dispose of its commercial marketing and trading business to focus on electric utilities and pipelines.
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Verizon sued for giving NSA phone records
May 12 2006 4:48PM (CT)
TRENTON, N.J. (AP) - Two New Jersey public interest lawyers sued Verizon Communications Inc. for $5 billion Friday, claiming the phone carrier violated privacy laws by turning over phone records to the National Security Agency for a secret government surveillance program.
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State Farm seeks homeowners' rate hike
May 12 2006 4:45PM (CT)
TALLAHASSEE, Fla. (AP) - State Farm Insurance Co., the largest home insurer in Florida, is seeking to boost premiums by an average of about 70 percent, the company said Friday.
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NYSE Group director sells $126M in shares
May 12 2006 4:35PM (CT)
WASHINGTON (AP) - NYSE Group Inc. director William E. Ford on Friday said he sold more than $126 million worth of the New York Stock Exchange operator's shares.
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3 chip makers to pay to settle lawsuit
May 12 2006 4:31PM (CT)
SAN FRANCISCO (AP) - Three makers of computer memory chips have agreed to pay a total of $161 million to settle a class-action lawsuit accusing them of conspiring to fix prices, according to lawyers in the case.
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Kozlowski to settle tax case for $21.2M
May 12 2006 4:28PM (CT)
NEW YORK (AP) - Former Tyco CEO L. Dennis Kozlowski agreed Friday to pay $21.2 million to settle a New York state tax case related to his grand larceny conviction for looting the company.
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Basin Water IPO soars in trading debut
May 12 2006 4:26PM (CT)
WASHINGTON (AP) - Basin Water Inc.'s IPO on Friday closed the tap on a week of stagnant initial public offering debuts, rising sharply above its offering price.
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Doctors challenge claims of Merck study
May 12 2006 4:11PM (CT)
TRENTON, N.J. (AP) - People who took the painkiller Vioxx were at increased risk of heart attack and stroke for at least a year after they stopped taking the drug, several doctors said Friday, challenging claims the drug's maker had made the day before.
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Tenet gathering goes smoothly, quickly
May 12 2006 4:07PM (CT)
DALLAS (AP) - Stock in Tenet Healthcare Corp. fell 30 percent last year, the hospital operator has lost nearly $5 billion in three years, and its financial dealings with doctors are under renewed scrutiny by federal officials. But there were no signs of turmoil at Friday's annual shareholder meeting.
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Ameren shuts down nuclear plant in Mo.
May 12 2006 4:03PM (CT)
ST. LOUIS (AP) - Ameren Corp. shut down its Callaway nuclear plant Friday morning after unusually high vibrations were detected in the power turbines.
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51jobs shares jump on surge in 1Q profit
May 12 2006 3:57PM (CT)
NEW YORK (AP) - ) _ Stock of 51jobs Inc. climbed Friday, a day after the Chinese recruiting and human resource services company said first-quarter net income nearly tripled.
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Parmalat posts jump in core earnings in 1Q
May 12 2006 3:55PM (CT)
MILAN, Italy (AP) - Italian juice and dairy conglomerate Parmalat SpA reported an 18 percent increase in core earnings during the first quarter of the year, crediting improved efficiency and a better product mix.
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Bausch & Lomb cuts net sales after probe
May 12 2006 3:49PM (CT)
ROCHESTER, N.Y. (AP) - Bausch & Lomb Inc. is cutting its previously reported net sales by a combined $26.7 million after an internal investigation uncovered a wider catalog of accounting errors at its Asian subsidiaries dating back to 2001.
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R.J. Reynolds workers reject union again
May 12 2006 3:47PM (CT)
WINSTON-SALEM, N.C. (AP) - About 2,000 employees at R.J. Reynolds Tobacco Co., maker of Camel and Salem cigarettes, have voted against union representation for the second time in as many years.
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Best Buy to acquire majority of Five Star
May 12 2006 3:39PM (CT)
RICHFIELD, Minn. (AP) - Consumer electronics retailer Best Buy Co. Inc. announced Friday that it will purchase a majority stake in Jiangsu Five Star Appliance Co. Ltd., China's fourth-largest appliance and electronics retailer, for $180 million.
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GM stock posts gains on analyst upgrade
May 12 2006 3:38PM (CT)
DETROIT (AP) - General Motors Corp. stock rose Friday after an analyst upgraded the company's shares and said the automaker likely will avoid a devastating strike at Delphi Corp.
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Gas prices tumble to near one-year low
May 12 2006 3:24PM (CT)
WASHINGTON (AP) - Natural gas futures declined to their lowest level in almost a year on Friday amid soaring inventories of the mostly domestic fuel used to heat homes and produce electricity.
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Friday's commodities roundup
May 12 2006 3:15PM (CT)
SAN FRANCISCO (AP) - Gold prices fell Friday, but ended the week with a gain of more than $30 an ounce.
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Scruggs takes up Katrina cause in Miss.
May 12 2006 3:06PM (CT)
MOSS POINT, Miss. (AP) - A private jet is waiting for Richard Scruggs, but first the millionaire lawyer wants to squeeze in a quick lunch. Smiles and nods greet him as he walks into Lu-Cher Doe's Diner, a soul food restaurant down the street from his law office.
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Papers to proceed to binding arbitration
May 12 2006 2:07PM (CT)
SEATTLE (AP) - Seattle's embattled daily newspapers have decided to proceed with plans to resolve their long-running legal dispute through binding arbitration.
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Time Warner to buy rest of Court TV
May 12 2006 1:39PM (CT)
NEW YORK (AP) - Time Warner Inc. said Friday it would acquire the other half of Court TV that it doesn't already own from Liberty Media Corp. for $735 million.
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Curve balls abound in TV ad-selling season
May 12 2006 1:26PM (CT)
NEW YORK (AP) - The annual spring ritual of selling blocks of advertising for prime-time TV shows airing this fall just got a lot more interesting.
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Cities file suits vs. online travel agents
May 12 2006 1:19PM (CT)
DALLAS (AP) - Several cities around the country have sued Web-based travel clearinghouses such as Expedia, Travelocity and Orbitz, claiming they have failed to pay millions of dollars in hotel taxes.
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Westell Tech down on soft earnings
May 12 2006 1:16PM (CT)
NEW YORK (AP) - Stock of Westell Technologies Inc., which makes high-speed modems and routers, fell Friday after it posted a drop in profit and issued a weak outlook.
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Sale may end bitter Pa. newspaper war
May 12 2006 1:14PM (CT)
WILKES-BARRE, Pa. (AP) - Each day for the past 28 years, the Times Leader and The Citizens' Voice have fought each other for scoops and respect. Their rivalry _ bitter, intense and personal _ is among the fiercest in newspaperdom.
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Arcelor, Mittal in takeover war of words
May 12 2006 1:02PM (CT)
BRUSSELS, Belgium (AP) - Mittal Steel Co. and its target Arcelor SA unveiled better-than-expected results on Friday that Arcelor used as proof it should stay independent, while Mittal announces that it had clearance from U.S. regulators for its proposed takeover.
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EDS finds niche in title sponsorships
May 12 2006 12:51PM (CT)
PLANO, Texas (AP) - Title sponsorships for pro sporting events usually belong to consumer-oriented companies _ retailers, banks, car manufacturers _ trying to reach the masses.
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Osiris Therapeutics plans IPO
May 12 2006 12:48PM (CT)
WASHINGTON (AP) - Osiris Therapeutics Inc. on Friday said it plans to go public in an initial offering of stock worth up to $80 million.
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Allianz AG insurer reports 1Q profit rise
May 12 2006 12:26PM (CT)
BERLIN (AP) - German insurance company Allianz AG on Friday reported a 35 percent increase in first-quarter net profit, helped by realized capital gains and the absence of any large natural disasters.
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Attorney: Toyota took action too late
May 12 2006 12:20PM (CT)
TOKYO (AP) - The attorney for the woman who is accusing a Toyota executive of sexual harassment said Friday the automaker took no action against his client's complaints for months.
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Eni SpA posts 22 percent gain in profit
May 12 2006 12:10PM (CT)
MILAN, Italy (AP) - Europe's fourth-largest oil and gas company Eni SPA announced a 22 percent increase in net profit Friday, boosted by a strong performance from its core exploration and production division.
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Delphi to delay filing 1Q results
May 12 2006 12:07PM (CT)
DETROIT (AP) - Auto parts supplier Delphi Corp. said it won't be able to file its first-quarter financial report on time because it needs more information on the potential outcome of wage talks with its unions and General Motors Corp.
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Ex-Qwest CEO balked at NSA records sweep
May 12 2006 12:02PM (CT)
DENVER (AP) - Former Qwest Communications Chief Executive Joseph Nacchio refused to share customer telephone records with the National Security Agency following the Sept. 11 terrorist attacks because authorities did not want to use "any legal process" to justify their request, Nacchio's attorney said Friday.
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Total CEO names Margerie his successor
May 12 2006 12:00PM (CT)
PARIS (AP) - Total SA boss Thierry Desmarest on Friday named his head of production and exploration, Christophe de Margerie, to succeed him as chief executive of the French oil company when he steps down in 2007.
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HMV gets OK to buy rival chain Ottakar's
May 12 2006 11:59AM (CT)
LONDON (AP) - Britain's competition authority formally cleared the way Friday for book and music retailer HMV Group PLC to acquire rival bookstore chain Ottakar's PLC.
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Dollar falls against euro, yen
May 12 2006 11:56AM (CT)
BERLIN (AP) - The dollar fell against the euro and Japanese yen on Friday despite an unexpected decline in the U.S. trade deficit.
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Bentonite industry booming in West
May 12 2006 11:50AM (CT)
COLONY, Wyo. (AP) - It may not be as big as natural gas, but the production of bentonite _ a clay that's ubiquitous in northern Wyoming, western South Dakota and southern Montana _ is booming.
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Lawsuit challenges new bankruptcy law
May 12 2006 11:36AM (CT)
NEW HAVEN, Conn. (AP) - Organizations representing thousands of attorneys are challenging the nation's tough new bankruptcy law, saying it illegally restricts the advice lawyers can give and makes it harder for clients to navigate the bankruptcy system.
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UPM to cut Finnish work force by 2,500
May 12 2006 11:27AM (CT)
HELSINKI, Finland (AP) - UPM-Kymmene Corp., the world's largest producer of paper used for magazines, plans to shut three mills and lay off at least 2,500 people in Finland over three years as part of a previously-disclosed plan to improve profitability.
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Gold rises in London; dollar mixed
May 12 2006 11:00AM (CT)
LONDON (AP) - Gold continued to rise in London trading Friday, although it fell in Zurich. The U.S. dollar was mixed against other major currencies.
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Susser Holdings files IPO
May 12 2006 10:55AM (CT)
WASHINGTON (AP) - Convenience store operator Susser Holdings Corp. Friday filed an initial public offering to sell up to $115 million in common stock.
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Brazil calls for compensation from Bolivia
May 12 2006 10:44AM (CT)
VIENNA, Austria (AP) - Brazil's foreign minister called on Bolivia to compensate the Brazilian state oil company known as Petrobras if Bolivia seizes company assets there.
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Telefonica reports 40 pct. 1Q profit rise
May 12 2006 10:13AM (CT)
MADRID, Spain (AP) - Spanish telecommunications company Telefonica SA reported Friday a 40 percent rise in first-quarter profit, fueled by consolidation of recent large acquisitions and strong growth in high-speed Internet services.
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Spain's Iberia airline sees larger 1Q loss
May 12 2006 9:46AM (CT)
MADRID, Spain (AP) - Spanish airline Iberia reported wider first-quarter loss Friday, blaming higher fuel prices, pricing pressures from low-cost competitors and later Easter holidays.
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Reports: Russia to remove restrictions
May 12 2006 8:53AM (CT)
MOSCOW (AP) - Russia's finance minister said Friday that remaining restrictions on currency movement would be removed as of July 1, as Russia seeks to make the ruble fully convertible against a backdrop of oil-driven economic stability, Russian news agencies reported.
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EU cancels planned tariffs on U.S. imports
May 12 2006 8:25AM (CT)
BRUSSELS, Belgium (AP) - The European Commission said Friday plans for punitive tariffs on U.S. imports would be dropped after U.S. lawmakers voted to repeal legislation that grants tax breaks to leading exporters, including aircraft manufacturer Boeing Co.
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ThyssenKrupp 2Q profit drops 59 percent
May 12 2006 8:09AM (CT)
BERLIN (AP) - German industrial conglomerate ThyssenKrupp AG on Friday reported a 59 percent drop in second quarter net profit, but raised its projection for sales and pretax profits before special items for fiscal 2006.
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Largest passenger ship arrives in N.J.
May 12 2006 7:55AM (CT)
BAYONNE, N.J. (AP) - The world's largest cruise ship is so immense that even its captain hasn't finished exploring it. "I'm still discovering things," Bill Wright said as he walked around the bridge of Royal Caribbean's newly built Freedom of the Seas while it was docked in Bayonne.
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Cohiba maker sues over alleged counterfeit
May 12 2006 7:53AM (CT)
LAS VEGAS (AP) - The maker of Cohiba brand cigars has filed a federal counterfeiting and trademark infringement lawsuit against a Las Vegas business and several distributors it claims have been copying its name on cigars.
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Arcelor to buy back shares
May 12 2006 7:41AM (CT)
BRUSSELS, Belgium (AP) - Steelmaker Arcelor SA said Friday it planned to buy back almost a quarter of its shares, pointing to better-than-expected first quarter results as proof the company is undervalued and was right to rebuff a takeover bid from Mittal Steel Co.
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Germany's Hannover Re 1Q net profit rises
May 12 2006 7:28AM (CT)
BERLIN (AP) - German reinsurer Hannover Re AG on Friday reported a 7.6 percent rise in first quarter net profit, which it said was dragged down by higher tax expenses than the same quarter a year ago.
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Gulf Oil chief proposes price-cap program
May 12 2006 7:00AM (CT)
BOSTON (AP) - Joe Petrowski would like nothing more than to see gasoline prices drop like a rock. But if they don't, the chief executive of Gulf Oil LP thinks he's hit upon a plan to help mitigate sky-high gas prices for the average driver.
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Schwarzenegger gets fish farming bill
May 12 2006 6:03AM (CT)
SACRAMENTO (AP) - California would impose some of the world's toughest restrictions on fish farming under a bill the Senate sent to Gov. Arnold Schwarzenegger.
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Mittal Steel's 1Q net profit falls
May 12 2006 5:53AM (CT)
LONDON (AP) - Mittal Steel Co. NV reported Friday that first-quarter net profit fell 35 percent, but the results were stronger than analysts predicted and the company was optimistic about prospects for the rest of the year.
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NTT fiscal 2005 profit down 30 percent
May 12 2006 5:34AM (CT)
TOKYO (AP) - Profit at Nippon Telegraph and Telephone plunged 30 percent for the fiscal year ended March 31, as a drop in revenue from traditional fixed-line telephones and lower prices in mobile services crimped earnings, Japan's top telecommunications company said Friday.
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Ad-sponsored TV-on-demand gets trial run
May 12 2006 5:11AM (CT)
PHILADELPHIA (AP) - Comcast Corp., CBS Corp. and General Motors Corp. are testing a new concept in video on demand: Prime-time TV shows free for digital cable subscribers.
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Japanese stocks fall sharply; dollar down
May 12 2006 5:08AM (CT)
TOKYO (AP) - Japanese stocks fell sharply Friday, tumbling for a fourth straight day on concerns about the yen's recent strength and an overnight plunge on Wall Street.
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UnitedHealth may have to restate earnings
May 12 2006 3:59AM (CT)
MINNEAPOLIS (AP) - UnitedHealth Group Inc. admitted a "significant deficiency" in its handling of stock options on Thursday and said it may have to restate several years of earnings.
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Brewer InBev posts $211M profit in 1Q
May 12 2006 3:51AM (CT)
BRUSSELS, Belgium (AP) - Brewer InBev SA tripled its first-quarter net profit to 166 million euros ($211 million), the company said Friday, as overall revenues rose despite a drop in Western European sales.
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High gas prices lead to U.S. scooter boom
May 12 2006 3:45AM (CT)
NEW YORK (AP) - With gas prices above $3 a gallon, software engineer Daniel Fry has been commuting to work over the Brooklyn Bridge in a car pool of sorts. It's actually more like a convoy _ of motor scooters.
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Arcelor 1Q net profit falls 20 percent
May 12 2006 2:15AM (CT)
BRUSSELS, Belgium (AP) - Steelmaker Arcelor SA on Friday reported a better-than-expected profit of euro761 million ($968 million) for the first quarter, down 20 percent on the same period last year as steel prices fell and the cost of oil rose.
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Bolivian opposition challenge gas plan
May 12 2006 1:34AM (CT)
LA PAZ, Bolivia (AP) - Bolivian opposition leaders warned Evo Morales' tough stance on foreign energy companies facing nationalization could drive investors away and Brazil's state oil firm expressed outrage at the president's accusation that it was operating illegally.
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Lay faces second trial in separate case
May 12 2006 12:12AM (CT)
HOUSTON (AP) - Enron founder Kenneth Lay won't settle in for a long wait when 12 jurors begin deliberating in the conspiracy and fraud case against him and former Chief Executive Jeffrey Skilling. He'll be back on trial, without a jury, on charges in a separate case stemming from his personal banking.
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Ayer upbeat about Alaska Air Group future
May 12 2006 12:11AM (CT)
SEATTLE (AP) - After a bruising year marred by layoffs, delayed flights, complaints about lost bags, and a spate of cabin pressurization scares, the head of Alaska Air Group Inc. exudes confidence the company has "turned the corner."
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Delta Air Lines reports 1Q loss of $2.1B
May 12 2006 12:08AM (CT)
ATLANTA (AP) - Delta Air Lines Inc., the nation's third-largest carrier, reported Thursday a first-quarter loss of $2.1 billion, plunging the beleaguered airline into deeper financial straits.
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