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Tesco to sell halal food in London stores
May 19 2006 11:22PM (CT)
KUALA LUMPUR, Malaysia (AP) - British supermarket chain Tesco will sell Malaysian halal products in its London stores starting next year in an effort to cater to the city's large Muslim population, news reports said Saturday.
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Experts: Indictment may cripple law firm
May 19 2006 6:29PM (CT)
LOS ANGELES (AP) - The indictment of a leading class-action law firm and two of its partners on charges of paying millions of dollars in kickbacks to clients will affect its large portfolio of ongoing lawsuits and its future prospects, experts said Friday.
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Bond prices rise; inflation worries ease
May 19 2006 5:13PM (CT)
NEW YORK (AP) - Longer-term bond prices rose Friday, as inflation anxieties were scaled back following some hawkish remarks from Federal Reserve officials.
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Fannie Mae replaces head of audit panel
May 19 2006 5:12PM (CT)
WASHINGTON (AP) - Mortgage giant Fannie Mae said Friday it was replacing the chairman of its board's audit committee, a key position as the company struggles to emerge from an $11 billion accounting scandal.
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Fuel costs still problem for Northwest
May 19 2006 5:04PM (CT)
MINNEAPOLIS (AP) - Taking it one union at a time, Northwest Airlines Corp. has been nailing down the labor concessions it needs to cut costs and emerge from bankruptcy. But big challenges, including soaring fuel costs, still dog the nation's fourth-largest carrier.
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AK Steel CEO chastises union on talks
May 19 2006 5:01PM (CT)
MIDDLETOWN, Ohio (AP) - Steel producer AK Steel Holding Corp. wants an agreement with its locked-out union as soon as possible, but the union has been unrealistic, the company's chief executive told shareholders Friday.
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Friday's commodities roundup
May 19 2006 4:58PM (CT)
NEW YORK (AP) - Gold prices fell Friday alongside other commodities, as strength in the dollar and abating worries over inflation encouraged traders to exit positions ahead of the weekend.
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Rolling Rock sale clouds Pa. town's future
May 19 2006 4:46PM (CT)
PITTSBURGH (AP) - The departure of Rolling Rock beer from the tiny Pennsylvania town it has come to symbolize has left the future of local brewery workers _ and the town's identity _ in question.
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Federated to have 'Zoom Stores' at Macy's
May 19 2006 4:44PM (CT)
CINCINNATI (AP) - Federated Department Stores Inc. is bringing consumer electronics back into its stores with a robotic vending machine that will roll out in 180 Macy's stores this fall.
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BE Aerospace CEO quits Brooks board
May 19 2006 4:27PM (CT)
NEW YORK (AP) - The chief executive of BE Aerospace Inc. quit his position as an independent director at Brooks Automation Inc., which plans to restate seven years of earnings because of incorrect stock option accounting.
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CDC analysis backs Bausch & Lomb recall
May 19 2006 4:06PM (CT)
ROCHESTER, N.Y. (AP) - A federal health analysis released Friday echoed assertions by Bausch & Lomb Inc. that an outbreak of severe fungal eye infections appears to be linked solely to its new-formula contact lens cleaner. The company's shares rose 3.6 percent.
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BNP Paribas 1Q profit climbs 17 percent
May 19 2006 3:58PM (CT)
PARIS (AP) - BNP Paribas SA, one of France's biggest banks, said Friday that its profit rose 17 percent in the first quarter, led by growth at its corporate investment banking business.
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British Airways 4Q profit soars to $151M
May 19 2006 3:56PM (CT)
LONDON (AP) - British Airways PLC reported a leap in fourth-quarter profit Friday after higher ticket prices and demand for flights outweighed a sharply higher fuel bill. Shares in the carrier soared as it also raised its revenue guidance for the current financial year.
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Pinnacle won't increase offer for Aztar
May 19 2006 3:53PM (CT)
LAS VEGAS (AP) - Casino operator Pinnacle Entertainment Inc. said Friday it won't increase its takeover offer for Aztar Corp., even though Aztar has declared a rival offer valued at about $1.94 billion to be the superior bid.
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Dell move to AMD chips ups firms' shares
May 19 2006 3:51PM (CT)
DALLAS (AP) - The world's largest PC maker says it was merely bowing to customer demand when it decided to start offering microprocessors from Advanced Micro Devices Inc. in some of its high-end servers.
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Ford makes preparations for Delphi strike
May 19 2006 3:48PM (CT)
DETROIT (AP) - Ford Motor Co. has made preparations for a strike by auto supplier Delphi Corp., but Ford Chairman and Chief Executive Bill Ford said he's been encouraged by reports of progress in negotiations that could avoid a strike.
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Anheuser-Busch to buy Rolling Rock brand
May 19 2006 3:43PM (CT)
ST. LOUIS (AP) - Anheuser-Busch Cos. Inc., citing consumers' need for variety in beer, said Friday it will pay $82 million to purchase the Rolling Rock beer brand from InBev USA, the U.S. subsidiary of Belgian-Brazilian brewer InBev SA.
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Calpine posts $9.9 billion loss in 2005
May 19 2006 3:41PM (CT)
SAN FRANCISCO (AP) - Bankrupt power wholesaler Calpine Corp. suffered a $9.9 billion loss last year, sunk by the weight of its debts and a decaying portfolio of electricity plants.
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Penney shareholders re-elect directors
May 19 2006 3:39PM (CT)
PLANO, Texas (AP) - Shareholders of department-store operator J.C. Penney Co. re-elected several directors and scrapped a resolution on executive compensation during a quick annual meeting Friday.
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Ted Turner bids farewell to Time Warner
May 19 2006 3:37PM (CT)
ATLANTA (AP) - Ted Turner was uncharacteristically understated Friday as he departed Time Warner Inc., the media conglomerate that swallowed his cable network company and slowly sidelined him as a mover and shaker in the businesses that he helped to create.
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Oil prices drop on OPEC output forecast
May 19 2006 3:08PM (CT)
NEW YORK (AP) - Oil prices fell Friday after Iran's minister to OPEC said the group was not likely to cut production at its June meeting despite signs of surplus supply in the market.
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Toyota looks to overtake GM in China
May 19 2006 3:06PM (CT)
SHANGHAI, China (AP) - Toyota, on course to overtake General Motors as the world's biggest automaker, is well behind in the world's fastest-growing market _ and one where GM is thriving: China.
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Study notes jump in drug spending in 2005
May 19 2006 2:47PM (CT)
NEW YORK (AP) - More generic drug use and a slowing growth rate in demand for medicines drove the increase in drug spending in 2005 to its lowest level in seven years, a new study released Friday said.
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Ex-head of Missouri phone co. gets prison
May 19 2006 2:19PM (CT)
KANSAS CITY, Mo. (AP) - In a government fraud case prosecutors linked to the mob, a judge on Friday sentenced the former president of a small rural Missouri telephone company to 15 months in prison for defrauding two federal program of $8.9 million.
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Mittal Steel sweetens bid for Arcelor
May 19 2006 2:00PM (CT)
LONDON (AP) - Mittal Steel Co. sweetened its hostile bid for Arcelor SA on Friday in an attempt to increase pressure on its rival to agree to a deal, raising its offer by 34 percent and saying it would reduce the Mittal family's stake in the company.
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Deutsche Boerse pushes its case for merger
May 19 2006 1:10PM (CT)
BERLIN (AP) - Deutsche Boerse AG laid out its vision for a combination with Euronext on Friday, proposing creation of a Dutch-based holding company and a new corporate brand as it stepped up efforts to woo the rival stock exchange.
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EU lets Italy's Lottomatica buy Gtech
May 19 2006 12:17PM (CT)
BRUSSELS, Belgium (AP) - The European Union on Friday allowed Italy's betting company, Lottomatica, to buy Gtech Holdings Corp., a U.S. provider of technology for the gaming industry, saying it saw no antitrust problems.
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Nasdaq raises LSE stake to 25.1 percent
May 19 2006 12:07PM (CT)
LONDON (AP) - Nasdaq Stock Market Inc. said Friday it has increased its stake in the London Stock Exchange to 25.1 percent, a level that gives it the power to block some corporate actions.
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German states, union reach agreement
May 19 2006 11:58AM (CT)
POTSDAM, Germany (AP) - Union and state government negotiators agreed Friday to extend employees' shifts to just under 40 hours per week, ending a monthlong dispute over contracts for 800,000 public employees nationwide.
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Dollar gains against major currencies
May 19 2006 11:54AM (CT)
BERLIN (AP) - The dollar rose Friday against major currencies, rebounding from a slide that followed a drop in a widely watched barometer of U.S. economic activity.
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German parliament approves hefty tax hike
May 19 2006 11:54AM (CT)
BERLIN (AP) - The German parliament on Friday approved a large increase in value-added tax, a plan aimed largely at curbing the budget deficit and seen by opponents as a threat to the country's hesitant economic recovery.
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VNU's $9.7B takeover expected to succeed
May 19 2006 11:46AM (CT)
AMSTERDAM, Netherlands (AP) - A lengthy battle over the fate of Dutch publisher VNU NV _ the owner of Nielsen's Television Ratings _ was poised to end Friday, with a majority of shareholders expected to tender their shares to a 7.7 billion euros ($9.7 billion) takeover bid.
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Scandinavian Air in new deal with pilots
May 19 2006 11:27AM (CT)
STOCKHOLM, Sweden (AP) - Scandinavian airline operator SAS AB said Friday it had signed a new collective bargaining agreement with its pilot unions, following months of tense negotiations and a strike that hurt company profit earlier this year.
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British Airways profits up nearly 20 pct.
May 19 2006 11:24AM (CT)
LONDON (AP) - British Airways PLC reported a leap in fourth-quarter profit Friday after higher ticket prices and demand for flights outweighed a sharply higher fuel bill. Shares in the carrier soared as it also raised its revenue guidance for the current financial year.
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Marketers court Hispanic World Cup market
May 19 2006 11:09AM (CT)
PORTLAND, Ore. (AP) - On a dusty soccer field in a working-class neighborhood in Barcelona, Spain, two youngsters piece together their dream team of superstars for the World Cup.
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Liberty Bank to pay $600,000 penalty
May 19 2006 11:03AM (CT)
WASHINGTON (AP) - Liberty Bank of New York agreed to pay $600,000 in penalties to resolve a dispute involving alleged violations of federal and state anti-money laundering provisions, financial regulators announced Friday.
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Dollar rises, gold falls in Europe
May 19 2006 10:46AM (CT)
LONDON (AP) - The U.S. dollar rose against other major currencies in European trading Friday. Gold prices fell.
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Quest Diagnostics to acquire Focus
May 19 2006 10:20AM (CT)
LYNDHURST, N.J. (AP) - Medical testing company Quest Diagnostics Inc. on Friday said it will buy Focus Diagnostics Inc., a privately held infectious disease testing provider in Herndon, Va., for about $185 million in cash.
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Enron jury takes the weekend off
May 19 2006 9:51AM (CT)
HOUSTON (AP) - Jurors deliberating the fate of Enron Corp. founder Kenneth Lay and former CEO Jeffrey Skilling have the weekend off after finishing their first full day of deliberations in the premier case to emerge from one of the biggest corporate scandals in U.S. history.
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New Porsche model to be made in Leipzig
May 19 2006 9:05AM (CT)
LEIPZIG, Germany (AP) - Luxury automaker Porsche said Friday it will build its new Panamera model at a plant in the eastern German city of Leipzig, creating hundreds of extra jobs.
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Wagner named head of AP media relations
May 19 2006 9:04AM (CT)
NEW YORK (AP) - Linda Wagner, a former public relations official at Consumers Union, has been named to the new role of director of media relations and public affairs at The Associated Press, the news cooperative announced Friday.
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Publishing industry enjoys strong 2005
May 19 2006 9:00AM (CT)
WASHINGTON (AP) - The publishing industry enjoyed a strong year in 2005, with increases in both revenues and the number of books sold. But projections for long-term growth remains limited because people increasingly don't read, according to a study released Friday.
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OPEC: Global tensions keep crude prices up
May 19 2006 8:12AM (CT)
OSLO, Norway (AP) - Global tensions have pushed crude prices up as much as 20 percent _ or about $15 a barrel _ over what demand suggest they would otherwise be, OPEC's acting secretary general said Friday.
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French economy grows 0.5 percent in 1Q
May 19 2006 7:18AM (CT)
PARIS (AP) - France's economy grew by a 0.5 percent in the first quarter, the state statistics agency said Friday, thanks in part to a pickup in consumer spending. But the growth was slower than the 0.6 percent expansion forecast by analysts.
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German producer price inflation hits high
May 19 2006 6:48AM (CT)
BERLIN (AP) - Soaring oil and energy prices propelled German producer prices upward at their fastest annual rate for almost 24 years in April, government figures released Friday showed.
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Lay defense blames auto signature machine
May 19 2006 6:48AM (CT)
HOUSTON (AP) - The automated signature machine did it. Attorneys for Kenneth Lay suggested bank loan documents containing terms he allegedly violated actually were signed by an automatic signature device in the Enron Corp. founder's office and not by him.
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Bank of Japan keeps interest rates at zero
May 19 2006 6:27AM (CT)
TOKYO (AP) - Japan's central bank kept monetary policy unchanged Friday at the end of a two-day policy board meeting, deciding to keep interest rates at zero for the time being.
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Euronext shares up on progress with talks
May 19 2006 6:23AM (CT)
PARIS (AP) - Euronext NV shares rose sharply Thursday after the company said it hopes to finalize a tie-up with another stock exchange operator soon after its annual shareholder meeting next week.
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Japanese stocks rise; dollar up vs. yen
May 19 2006 5:01AM (CT)
TOKYO (AP) - Japanese stocks rose Friday as investors welcomed Japan's stronger-than-expected economic growth in the first quarter, reversing an early slide.
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Bausch & Lomb hit hard by eye infections
May 19 2006 4:25AM (CT)
ROCHESTER, N.Y. (AP) - Bausch & Lomb Inc. made a big blunder when federal regulators revealed in April they were investigating links between its new-formula contact lens cleaner and a rare fungal infection known to cause blindness: It waited three days before withdrawing ReNu with MoistureLoc from the U.S. market.
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40 AGs: 'Little cigars' same as cigarettes
May 19 2006 2:54AM (CT)
WASHINGTON (AP) - The states are once again doing battle with the tobacco industry. This time it's little cigars. Attorneys general from 39 states and Guam say these smokes are really just brown cigarettes and ought to be identified as such.
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Wheat prices climbing amid global drought
May 19 2006 2:38AM (CT)
WICHITA, Kan. (AP) - A global drought in major wheat-producing countries coupled with the lowest world grain stocks in a quarter century are fueling rising wheat prices amid predictions of shortages, farm economists said.
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Gap 1Q profit drops 17 percent to $242M
May 19 2006 12:55AM (CT)
SAN FRANCISCO (AP) - Gap Inc.'s first-quarter profit fell by 17 percent, dragged down by a deepening sales slump that has underscored the clothing retailer's inability to keep up with fickle fashion tastes.
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Japanese economy grows 1.9 percent
May 19 2006 12:54AM (CT)
TOKYO (AP) - Japan's economy grew at a better-than-expected 1.9 percent annual rate in the first quarter, marking the fifth straight quarter of expansion driven by continued consumer spending, solid company investment and booming exports.
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Former Fed chair says housing boom over
May 19 2006 12:04AM (CT)
NEW YORK (AP) - Former Federal Reserve Chairman Alan Greenspan said Thursday that Americans' consumption could taper off somewhat now that the U.S. housing market's "extraordinary boom" has ended.
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