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Military to guard Ecudaor oil facilities
May 16 2006 11:11PM (CT)
QUITO, Ecuador (AP) - Ecuadorean President Alfredo Palacio sent troops to guard oil facilities seized from Occidental Petroleum Corp. as they are transferred to state control, officials said Tuesday.
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Honda to build three new plants
May 16 2006 10:25PM (CT)
TOKYO (AP) - Honda Motor Co. will build new plants in Japan, the United States and Canada to boost production amid soaring demand for its vehicles, the company's president said Wednesday.
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Verizon denies giving NSA phone records
May 16 2006 10:11PM (CT)
NEW YORK (AP) - Verizon Communications Inc. on Tuesday joined fellow phone company BellSouth in denying key points of a USA Today story that said the companies had provided records of millions of phone calls to the government.
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Calif. county sues United over fuel deal
May 16 2006 9:43PM (CT)
REDWOOD CITY, Calif. (AP) - A suburban San Francisco county sued United Airlines, the city of Oakland and a state tax board on Tuesday over a fuel-purchase deal with the company that directed tax revenue out of the county.
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Hewlett-Packard 2Q profit up 51 percent
May 16 2006 9:29PM (CT)
SAN FRANCISCO (AP) - Hewlett-Packard Co.'s fiscal second-quarter profit rose 51 percent as the printer and computer company won PC market share from its biggest rival while benefiting from higher revenue and lower costs.
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Japanese stocks rise after decline
May 16 2006 8:34PM (CT)
TOKYO (AP) - Japanese stocks jumped in early trading Wednesday, following six days of declines on jitters over the outlook for the technology sector and the yen's recent strength against the dollar.
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NWA warns flight attendants talks are over
May 16 2006 6:44PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. is warning flight attendants that they won't get a better deal if they reject the wage-cutting pact they're voting on now.
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Bernanke urges caution on hedge funds
May 16 2006 6:43PM (CT)
WASHINGTON (AP) - Financial authorities must stay attuned to any potential risks posed by the growth of hedge funds, an investment domain of the wealthy that has become more popular with smaller investors, Federal Reserve Chairman Ben Bernanke suggested Tuesday.
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Principal gets 2nd subpoena from Spitzer
May 16 2006 6:24PM (CT)
DES MOINES, Iowa (AP) - Principal Financial Group Inc. said Tuesday it has received a second subpoena from New York Attorney General Eliot Spitzer, who is conducting an industrywide probe of insurance companies.
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Defense: Gov't manufactured Enron case
May 16 2006 6:06PM (CT)
HOUSTON (AP) - The government bore down on Enron Corp. as it would the Mafia, intimidating top lieutenants into pointing fingers at their bosses because someone had to pay for crimes that preceded the company's stunning collapse, the lawyer for former Chief Executive Jeffrey Skilling said Tuesday.
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AMR prices $400 million stock offering
May 16 2006 6:04PM (CT)
FORT WORTH, Texas (AP) - AMR Corp., the parent of American Airlines, said Tuesday it has priced a public offering of $400 million in newly issued shares at $26.80 per share.
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Law firm partners take leave amid probe
May 16 2006 6:03PM (CT)
LOS ANGELES (AP) - Two partners at a top New York law firm have taken a leave of absence amid a Los Angeles-based federal investigation into whether it paid illegal kickbacks to clients in multimillion dollar class-action lawsuits.
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American Eagle 1Q profit up 16 percent
May 16 2006 5:22PM (CT)
WARRENDALE, Pa. (AP) - Youth clothing retailer American Eagle Outfitters Inc. said Tuesday its first-quarter profit rose 16 percent, aided by double-digit sales growth.
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Wal-Mart 1Q profit increases 6.3 percent
May 16 2006 5:20PM (CT)
LITTLE ROCK, Ark. (AP) - Wal-Mart Stores Inc.'s cost-cutting moves and improvement in its merchandise mix helped the world's largest retailer post a 6.3 percent increase in its first quarter profit. The results beat Wall Street estimates and sent its shares modestly higher.
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Euronext weighs options on merger partner
May 16 2006 5:17PM (CT)
PARIS (AP) - European stock-exchange operator Euronext NV reiterated Tuesday that it was looking at a number of options regarding a merger partner after a report linked it more closely to the New York Stock Exchange.
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E.W. Scripps to close Shop at Home
May 16 2006 5:08PM (CT)
CINCINNATI (AP) - Media company E.W. Scripps Co. is giving up the struggle to make its money-losing Shop At Home television and online retailing subsidiary profitable and will close the business by June 30.
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BBVA willing to give shares to Bolivia
May 16 2006 5:07PM (CT)
LA PAZ, Bolivia (AP) - A Spanish bank said Tuesday it is willing to meet government demands to surrender shares it administers for a public pension fund, but was demanding compensation that the government doesn't want to give.
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UAW authorizes strike against Delphi
May 16 2006 4:48PM (CT)
DETROIT (AP) - United Auto Workers members have voted to authorize a strike against auto supplier Delphi Corp. if the company fails to honor its labor agreements, an action that could have severe consequences for Delphi and its largest customer, General Motors Corp.
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SEC charges ex-Infinium Labs CEO in scam
May 16 2006 4:45PM (CT)
WASHINGTON (AP) - The Securities and Exchange Commission charged the former chief executive of Infinium Labs Inc. with participating in a scheme to inflate the gaming system developer's stock price through junk faxes that made false claims about its prospects.
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Judge dismisses Merck shareholder suits
May 16 2006 4:43PM (CT)
NEWARK, N.J. (AP) - A federal judge has dismissed a group of shareholder lawsuits that charged Merck & Co. officers and directors with violating their duties by concealing the health risks of the company's Vioxx painkiller.
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Liberty Media to buy IDT Entertainment
May 16 2006 4:41PM (CT)
NEW YORK (AP) - Liberty Media Corp., parent of QVC home shopping network and online travel site Expedia.com, said Tuesday it plans to buy IDT Entertainment from IDT Corp., a telecommunications services provider.
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Carnival shares drop on reduced outlook
May 16 2006 4:39PM (CT)
MIAMI (AP) - Shares of Carnival Corp. tumbled to a new 52-week low Tuesday after the world's largest cruise operator reduced its earnings outlook because bookings have been weak and fuel costs have soared, among other causes.
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Federated ups 2Q outlook on IRS refund
May 16 2006 4:38PM (CT)
CINCINNATI (AP) - Federated Department Stores Inc. on Tuesday said it will make 33 cents a share more than expected in the second quarter because of a refund from the Internal Revenue Service in a tax settlement.
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Saks 1Q net income soars to $81.5 million
May 16 2006 4:35PM (CT)
BIRMINGHAM, Ala. (AP) - Luxury department store operator Saks Inc. on Tuesday said net income soared in the first quarter, helped by a one-time gain on the sale of its Northern Department Store Group.
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TJX 1st-quarter profit rises 21 percent
May 16 2006 4:33PM (CT)
FRAMINGHAM, Mass. (AP) - Discount retailer TJX Cos. said higher sales and cost reductions sent its first-quarter profit up 21 percent, offsetting a one-time expense to pay severance and other costs from cutting 250 headquarters jobs.
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Staples 1Q earnings increase 26 percent
May 16 2006 4:28PM (CT)
BOSTON (AP) - Staples Inc. said Tuesday its first-quarter profit rose 26 percent on gains in its office products delivery business and overseas operations.
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Teen retailers post higher 1Q earnings
May 16 2006 4:25PM (CT)
NEW YORK (AP) - Teen retailers Abercrombie & Fitch Co. and American Eagle Outfitters Inc. posted double-digit profit increases that beat Wall Street expectations. They also offered upbeat outlooks, indicating teenagers' urge to splurge doesn't seem to be subsiding anytime soon.
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Home Depot 1Q profit up despite weak sales
May 16 2006 4:05PM (CT)
ATLANTA (AP) - Weak demand for flooring and seasonal products were partly to blame for The Home Depot Inc.'s disappointing retail sales in the first quarter, though it still reported a 19 percent jump in profit and reaffirmed its growth guidance for the year Tuesday.
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Tuesday's commodities roundup
May 16 2006 3:59PM (CT)
NEW YORK (AP) - Gold prices rose Tuesday, recovering from a big drop a day earlier as the dollar weakened against the euro.
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Deere 2Q earnings up 23 pct. to $744.6M
May 16 2006 3:47PM (CT)
PEORIA, Ill. (AP) - Deere & Co., the world's largest farm equipment manufacturer, said Tuesday its second-quarter profit surged 23 percent as a one-time boost from last year's sale of its health care operation offset a slight dip in machinery sales.
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AT&T, BellSouth added to NSA records suit
May 16 2006 3:42PM (CT)
NEW YORK (AP) - AT&T Inc. and BellSouth Corp. have been added to a lawsuit seeking $200 billion in damages from telephone companies accused of violating privacy laws by turning over calling records to the government, lawyers said Tuesday.
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Slovenia on track to adopt euro currency
May 16 2006 3:36PM (CT)
STRASBOURG, France (AP) - The euro area is likely to swell to 13 nations next year after the European Commission said Tuesday that Slovenia could become the first new user of the common currency since it was launched four years ago.
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Workers sue Tyson for alleged violations
May 16 2006 3:09PM (CT)
WICHITA, Kan. (AP) - Workers at a Tyson Foods Inc. meatpacking plant have sued the company, alleging it violated federal and state labor laws by not paying them for time spent putting on and taking off protective equipment and walking to and from their work stations.
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Union: EEOC cuts threaten job security
May 16 2006 2:47PM (CT)
WASHINGTON (AP) - Cuts in funding and staff at the federal Equal Employment Opportunity Commission are threatening job security for millions of Americans, a federal workers' union claims in a new ad campaign.
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Oil prices settle near $70 a barrel
May 16 2006 2:44PM (CT)
WASHINGTON (AP) - Crude-oil futures rose slightly on Tuesday, stemming the declines in the previous two trading sessions that were sparked by reports of weakening demand.
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Gold rises after huge pullback
May 16 2006 2:23PM (CT)
NEW YORK (AP) - Gold prices rose Tuesday, recovering from a big drop a day earlier as the dollar weakened against the euro.
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Ex-pastor accused of cheating investors
May 16 2006 2:21PM (CT)
DENVER (AP) - A former pastor and two of his colleagues have been arrested on fraud charges, accused of cheating hundreds of investors out of $7.5 million and then spending the money on real estate, a jet and other luxuries, authorities said Tuesday.
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Mittal plans to launch offer for Arcelor
May 16 2006 2:17PM (CT)
STRASBOURG, France (AP) - Mittal Steel Co. said it would formally launch its $27 billion offer for rival Arcelor SA on Thursday after it got a green light from market regulators in France, Belgium, Luxembourg and the Netherlands.
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Making coffee gets easier for soldiers
May 16 2006 1:56PM (CT)
NATICK, Mass. (AP) - Tom Blakey remembers cooking everything from coffee to potatoes in his helmet during World War II. He and other members of the 82nd Airborne Division would plop their "steel pot" helmets onto campfires and heat whatever was inside.
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Tokyo wants answers on U.S. beef
May 16 2006 1:42PM (CT)
TOKYO (AP) - Japan wants to see the results of a survey of U.S. meatpacking plants before starting talks on reopening its market to American beef, Japan's agriculture minister said Tuesday.
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Calif., LA sue Coca-Cola over labels
May 16 2006 1:34PM (CT)
LOS ANGELES (AP) - State and city officials sued Coca-Cola Co. and its Mexican affiliates to eliminate bottles from Mexico that have lead-based ink in labels.
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Airbus parent co. says profit up 26 pct.
May 16 2006 1:20PM (CT)
BERLIN (AP) - Airbus expects to decide before July on the final design of its A350 airliner, parent company EADS said Tuesday as it reported a 26 percent rise in first quarter net profit.
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Number of Asian-owned businesses growing
May 16 2006 1:18PM (CT)
WASHINGTON (AP) - The number of Asian-owned businesses grew at more than twice the national rate for all U.S. companies from 1997 to 2002, the government said Tuesday.
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Cargill, ADM differ in food-fuel debate
May 16 2006 1:14PM (CT)
MINNEAPOLIS (AP) - One agribusiness giant is enthusiastic about using farmland to produce fuel. Another says growing food should be the top priority for those fields.
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Kelly stepping down from Time magazine post
May 16 2006 1:13PM (CT)
NEW YORK (AP) - Jim Kelly is stepping down as the managing editor of Time magazine and will take a senior editorial position at parent company Time Inc., a major magazine publisher, the company announced Tuesday.
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BellSouth denies it gave NSA call data
May 16 2006 1:03PM (CT)
ATLANTA (AP) - A day after denying that it provided bulk customer calling data to the National Security Agency, BellSouth Corp. said Tuesday it would never give any government agency such information without a subpoena or court order.
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Atlanta marks opening of 5th runway
May 16 2006 12:53PM (CT)
ATLANTA (AP) - Officials christened a fifth runway at Hartsfield-Jackson Atlanta International Airport on Tuesday, saying the strip will help cut airport delays and increase passenger capacity.
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Gadhafi renews focus on Libya oil reserves
May 16 2006 12:43PM (CT)
TRIPOLI, Libya (AP) - With the last vestiges of U.S. sanctions swept away, Moammar Gadhafi's bid to bring Libya back into the diplomatic mainstream has scored a stunning success. Gadhafi's next goal: an economic revival funded by the doubling of oil production in the coming decade.
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Ottakar's rejects new HMV takeover bid
May 16 2006 12:40PM (CT)
LONDON (AP) - Bookstore chain Ottakar's PLC said Tuesday it has received and rejected a renewed takeover approach from book and music retailer HMV Group, sending its shares sliding.
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Caterer Compass: 1st-half profits down
May 16 2006 12:38PM (CT)
LONDON (AP) - Catering company Compass Group PLC said Tuesday its profit fell 9.7 percent in the first half of its fiscal year, partly as a result of a U.N. contract scandal. But the company said it was continuing to win new business.
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Infosys to spend $100 million on training
May 16 2006 12:34PM (CT)
NEW DELHI (AP) - India's leading software exporter, Infosys Technologies Ltd., plans to spend $100 million this fiscal year on training as the outsourcing industry prepares for a shortage of skilled people, a company official said Tuesday.
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Spanish official: Bolivia must compensate
May 16 2006 11:37AM (CT)
MADRID, Spain (AP) - Bolivia's government must compensate Banco Bilbao Vizcaya Argentaria SA for surrendering control of shares in three local oil and gas companies, Spain's Deputy Prime Minister Pedro Solbes said Tuesday.
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Russia's MiG on display at Berlin air show
May 16 2006 11:23AM (CT)
BERLIN (AP) - A Cold War mainstay, the Russian MiG-29 fighter is no stranger to Schoenefeld Airport, a former Soviet facility on the outskirts of Berlin.
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Allegiant Travel plans IPO
May 16 2006 11:18AM (CT)
WASHINGTON (AP) - Discount airline operator Allegiant Travel Co. plans to go public in an initial offering worth as much as $100 million, according to a regulatory filing.
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EV Energy Partners plans IPO
May 16 2006 11:17AM (CT)
WASHINGTON (AP) - EV Energy Partners LP, which acquires and develops oil and gas properties, will go public in an initial offering worth as much as $91.2 million, according to a regulatory filing.
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German court rejects former execs' appeal
May 16 2006 11:13AM (CT)
BERLIN (AP) - Germany's highest court has rejected an appeal from two former executives of the company that once owned the Muppets against their conviction on charges of issuing false sales figures.
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Spain's Endesa profit surges in 1Q
May 16 2006 11:12AM (CT)
MADRID, Spain (AP) - Endesa SA, Spain's biggest power utility and the target of two takeover bids, said Tuesday its profit surged 87.8 percent in the first quarter, driven by its international operations, especially in Latin America, and a gain on the sale of an investment.
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Dollar falls, gold mixed in Europe
May 16 2006 11:03AM (CT)
LONDON (AP) - The U.S. dollar fell against other major currencies in European trading Tuesday. Gold prices were mixed.
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Big movers in the stock market
May 16 2006 10:44AM (CT)
NEW YORK (AP) - Stocks that were moving substantially or trading heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market.
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Lawyers for ephedra suits criticize plan
May 16 2006 10:10AM (CT)
TRENTON, N.J (AP) - The plan for supplement maker Nutraquest to emerge from bankruptcy is opposed by groups who sued the New Jersey-based supplement maker for injuries stemming from use of now-banned ephedra in diet products.
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SAS Group CEO Lindegaard to resign
May 16 2006 10:06AM (CT)
STOCKHOLM, Sweden (AP) - SAS Group Chief Executive Jorgen Lindegaard said Tuesday he would step down later this year after five years at the helm of the troubled Scandinavian airline.
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Dollar resumes fall against euro
May 16 2006 10:04AM (CT)
BERLIN (AP) - The dollar resumed its fall against the euro and other currencies Tuesday after U.S. data showed a drop in the number of new housing projects.
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OMV posts 24 pct. jump in 1Q profit
May 16 2006 8:43AM (CT)
VIENNA, Austria (AP) - Austrian petroleum company OMV AG said Tuesday its net profit for the first quarter rose 24 percent due to higher oil prices and a spike in revenues from its recently acquired Romanian subsidiary Petrom.
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BAA's profit falls 21 percent in 2005
May 16 2006 8:11AM (CT)
LONDON (AP) - British airports operator and takeover target BAA PLC reported a 21 percent drop in 2005 net profit Tuesday, but highlighted gains in revenue and pretax profit as it forecast passenger growth this year.
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Japan upbeat about economic recovery
May 16 2006 8:03AM (CT)
TOKYO (AP) - Japan's economic recovery is being sustained by strong external and domestic demand, the government said Tuesday in its monthly report for May.
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Hyundai Motor Chairman Chung indicted
May 16 2006 7:56AM (CT)
SEOUL, South Korea (AP) - Prosecutors indicted Hyundai Motor Co. Chairman Chung Mong-koo on Tuesday in an embezzlement and slush fund scandal gripping South Korea's largest automaker.
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Wholesale prices jump 0.9 percent in April
May 16 2006 7:39AM (CT)
WASHINGTON (AP) - Wholesale prices leaped by 0.9 percent in April, the most in seven months, propelled largely by soaring costs for gasoline and other energy products.
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Alaska Airlines, union reach agreements
May 16 2006 7:21AM (CT)
SEATTLE (AP) - Alaska Airlines says it has reached "agreements in principle" with union negotiators on basic contract terms with more than 3,600 clerical workers, passenger service and ramp crews.
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British consumer price index up 2 percent
May 16 2006 7:20AM (CT)
LONDON (AP) - Consumer prices in Britain rose 2 percent in the year ending in April, compared with an annual rate of 1.8 percent in March, the Office for National Statistics said Tuesday.
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Roche says Aspen to make generic Tamiflu
May 16 2006 6:44AM (CT)
BASEL, Switzerland (AP) - Roche Holding AG announced Tuesday that the South African company Aspen will produce a generic version of the antiviral drug Tamiflu to help Africa prepare for a possible pandemic stemming from a change in the bird flu virus.
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ZEW institute's index for April falls
May 16 2006 5:48AM (CT)
BERLIN (AP) - German finance professionals' economic outlook has worsened sharply on high oil prices, a rising euro and the prospect of hefty tax hikes in Europe's largest economy, a closely watched survey showed Tuesday.
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Toyota to recall 210,000 Prado SUVs
May 16 2006 5:36AM (CT)
TOKYO (AP) - Toyota Motor Corp. will recall about 210,000 Land Cruiser Prados worldwide due to an axle problem, Japan's largest automaker said Tuesday.
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ASEAN boosts economic clout
May 16 2006 4:55AM (CT)
MANILA, Philippines (AP) - Southeast Asian trade ministers inked an accord Tuesday to free up merchandise trade with South Korea and moved a step closer to launching free trade talks with the European Union.
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EU chief to seek mandate for trade talks
May 16 2006 4:19AM (CT)
MANILA, Philippines (AP) - The EU trade chief said Tuesday there is a solid case for a free trade pact between the European Union and Southeast Asia, and that he would seek a mandate from EU members to launch talks.
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Mining interests protest Mongolian plan
May 16 2006 3:12AM (CT)
ULAN BATOR, Mongolia (AP) - Mining companies and industry officials expressed dismay Tuesday over a windfall profits tax on minerals enacted by Mongolia's legislature that critics say could scare off foreign investors.
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U.S. group: China product piracy growing
May 16 2006 2:59AM (CT)
BEIJING (AP) - China is still doing too little to fight growing product piracy despite repeated crackdowns, causing mounting damage to legitimate producers of movies, music and other goods, a U.S. business group said Tuesday.
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Study outlines problems in Salton Sea
May 16 2006 2:51AM (CT)
LOS ANGELES (AP) - A new study warns that if no restoration efforts are launched to save California's largest lake, the lake could shrink and fish could die.
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Hewitt: Automatic enrollment boosts 401(k)
May 16 2006 12:19AM (CT)
NEW YORK (AP) - Automatically enrolling new workers in company-sponsored 401(k) retirement plans greatly increases the participation of younger, lower-salaried workers, according to a study released Tuesday by the human resources consulting firm Hewitt Associates.
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