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New source of information on bonds
May 23 2005 11:59PM (CT)
WASHINGTON (AP) - With ordinary investors flocking to the corporate bond market, securities regulators are providing a new source of information on the Internet to help people understand how bonds work.
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Schroeder trying to fix Germany's economy
May 23 2005 11:53PM (CT)
BERLIN (AP) - Chancellor Gerhard Schroeder tried to revive Germany's hidebound economy by chipping away at social protections _ angering his base and causing his support to plummet.
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Editor: Drug firms don't disclose enough
May 23 2005 11:49PM (CT)
NEW YORK (AP) - Pfizer Inc., GlaxoSmithKline PLC. and Merck & Co. are "making a mockery" of efforts to create more transparency in drug clinical trials, according to a prominent medical journal editor.
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Palestinians plunge into stocks
May 23 2005 11:44PM (CT)
NABLUS, West Bank (AP) - Not long ago, the Target brokerage firm was a lonely place. These days, it's standing room only as optimistic investors crowd into a smoky waiting room each morning to watch their shares climb to new heights.
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Japan stocks up a bit; dollar down vs. yen
May 23 2005 10:38PM (CT)
TOKYO (AP) - Japanese stocks were up slightly at midday Tuesday, led by technology and banking shares. The dollar slipped against the yen and the euro.
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Banks notify customers of data theft
May 23 2005 10:06PM (CT)
CHARLOTTE, N.C. (AP) - More than 100,000 customers of Wachovia Corp. and Bank of America Corp. have been notified that their financial records may have been stolen by bank employees and sold to collection agencies.
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Tens of thousands of cases seen over Vioxx
May 23 2005 8:05PM (CT)
NEW ORLEANS (AP) - A federal judge told dozens of lawyers crowded into a courtroom here Monday that there could ultimately be up to 100,000 cases filed against Merck & Co. over its now withdrawn pain reliever Vioxx, and that he could hear a case as early as the fall.
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USF shareholders OK Yellow Roadway deal
May 23 2005 7:14PM (CT)
KANSAS CITY, Mo. (AP) - Trucking company USF Corp. said Monday that a majority of its shareholders approved selling the company to Yellow Roadway Corp. for $1.37 billion in cash and stock.
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Able halts manufacturing, starts recall
May 23 2005 7:13PM (CT)
NEW YORK (AP) - Generic drug maker Able Laboratories Inc. suspended manufacturing operations Monday and recalled the rest of its products after an internal probe turned up problems with testing procedures for some of its drugs.
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Blockbuster CEO sells some of his shares
May 23 2005 7:03PM (CT)
DALLAS (AP) - Blockbuster Inc.'s chief executive sold about 11 percent of his stock in the movie-rental chain this month after a proxy vote in which he was temporarily unseated as chairman.
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Lawyer: Ex-Tyco CFO committed no crime
May 23 2005 6:03PM (CT)
NEW YORK (AP) - The former chief financial officer of Tyco International Ltd., accused of stealing tens of millions of dollars from the company, believed that all the money he received from Tyco was authorized, his lawyer said Monday in summing up.
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Italian unions call for general strike
May 23 2005 5:08PM (CT)
ROME (AP) - Leaders of Italy's three main labor confederations on Monday called a four-hour general strike in a dispute with Premier Silvio Berlusconi's government over public workers' contracts.
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Ejaculation drug trial positive, J&J says
May 23 2005 5:08PM (CT)
SAN ANTONIO (AP) - Men taking Johnson & Johnson's premature ejaculation treatment, dapoxetine hydrochloride, experienced improvements in sexual function, including control and satisfaction, a J&J unit said Monday.
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Bonds rise despite little propelling news
May 23 2005 4:53PM (CT)
NEW YORK (AP) - Bond prices rose Monday, despite a lack of news to propel them. Market participants blamed technical trading and squaring of positions by traders.
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Monday's Commodities Roundup
May 23 2005 4:41PM (CT)
NEW YORK (AP) - Crude-oil futures in New York settled higher Monday, as last session's 13-week low sparked buying interest among bargain hunters, despite clearly bearish market signals.
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Campbell 3Q profit rises, tops forecasts
May 23 2005 4:40PM (CT)
TRENTON, N.J. (AP) - Campbell Soup Co. said Monday its third-quarter profit inched higher as rising foreign sales of soup and sauces and strong domestic sales of baking and snack products offset weak U.S. demand for soup and other products.
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'Polish plumber' at center of French vote
May 23 2005 4:38PM (CT)
PARIS (AP) - A faceless Slavic handyman has emerged as a symbol of the struggle to persuade a disgruntled French electorate to vote in favor of a European Union constitution in a critical weekend referendum.
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Rates rise on short-term Treasury bills
May 23 2005 4:29PM (CT)
WASHINGTON (AP) - Interest rates on short-term Treasury bills rose in Monday's auction with the three-month bill hitting the highest level since September 2001.
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Qwest meeting comes after failed MCI bid
May 23 2005 4:16PM (CT)
DENVER (AP) - Nearly a month after his $9.85 billion bid for MCI Inc. failed, Qwest Communications CEO Richard Notebaert will convene an annual meeting on Tuesday where shareholders are hoping to hear what the company's future holds.
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FDA OKs extending Boston Scientific stent
May 23 2005 4:13PM (CT)
NATICK, Mass. (AP) - Boston Scientific Corp. said Monday that federal regulators have approved extending the shelf life of its Taxus Express 2 drug-eluting coronary stent system to 12 months from the previous approved shelf life of nine months.
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Polo Ralph Lauren to buy footwear line
May 23 2005 4:07PM (CT)
CANTON, Mass. (AP) - Polo Ralph Lauren Corp. will buy Reebok International Ltd.'s rights to the Ralph Lauren line of footwear for $110 million in cash, ending a 9-year-old licensing agreement under which Reebok made and sold shoes under the Ralph Lauren label.
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Microsoft gets deadline in antitrust case
May 23 2005 4:04PM (CT)
BRUSSELS, Belgium (AP) - The European Union has given Microsoft Corp. until the end of the month to comply with its antitrust order or face punitive sanctions, the software producer and an EU official said Monday.
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Toys R Us shareholders get buyout ballots
May 23 2005 4:01PM (CT)
NEWARK, N.J. (AP) - Shareholders of Toys R Us Inc. were told Monday that if they do not approve the buyout of the company by a private consortium, the nation's No. 2 toy seller must pay up to $30 million to reimburse the group for expenses.
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Shell makes natural gas find off Norway
May 23 2005 4:00PM (CT)
OSLO, Norway (AP) - A wildcat exploration well drilled in the Norwegian Sea has made a promising natural gas strike, although it was too early to say how large, the Norwegian Petroleum Directorate announced Monday.
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Morgan Stanley to appeal $1.45B award
May 23 2005 3:58PM (CT)
NEW YORK (AP) - Morgan Stanley is set on trying to overturn the massive $1.45 billion award it has to pay financier Ronald Perelman, but the risks of challenging the verdict could force a settlement, experts say.
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Exxon Mobil to vote on social proposals
May 23 2005 3:47PM (CT)
DALLAS (AP) - Shareholders of Exxon Mobil Corp., coming off record profits last year, will vote Wednesday on proposals from dissident investors on a range of social and environmental resolutions opposed by management of the nation's largest oil company.
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Workers at Coke bottling plants strike
May 23 2005 3:42PM (CT)
ATLANTA (AP) - More than 2,000 workers at plants in California and Connecticut that bottle Coca-Cola soft drinks went on strike Monday, just before the start of the summer season.
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Maytag merger plan has $40M breakup feee
May 23 2005 3:42PM (CT)
WASHINGTON (AP) - Maytag Corp. said Monday it could owe $40 million to an investor group led by Ripplewood Holdings LLC if its proposed deal to be taken private by the group falls apart.
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Ex-Intel exec to head Kodak digital group
May 23 2005 3:19PM (CT)
ROCHESTER, N.Y. (AP) - Eastman Kodak Co. announced Monday it has hired a former Intel senior executive to head its digital imaging services group.
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No verdict in third day of Scrushy talks
May 23 2005 2:59PM (CT)
BIRMINGHAM, Ala. (AP) - Jurors deliberated a third day Monday without reaching a verdict in the corporate fraud trial of fired HealthSouth Corp. chief Richard Scrushy, the first CEO charged under the Sarbanes-Oxley corporate reporting law.
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Prosecution wraps up case in Sihpol trial
May 23 2005 2:47PM (CT)
NEW YORK (AP) - Prosecutors in the criminal trial of former Bank of America broker Theodore C. Sihpol rested their case on Monday, after examining several final witnesses.
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Environmental crusader Marc Lappe dies
May 23 2005 2:46PM (CT)
GUALALA, Calif. (AP) - Marc Lappe, an author, medical ethicist and toxicologist who helped shape the country's environmental and health policies, has died of cancer at his home in northern California, according to his family. He was 62.
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EU to address China textile export dispute
May 23 2005 2:28PM (CT)
BRUSSELS, Belgium (AP) - The European Union moved closer Monday toward escalating a trade dispute with China over surging textile exports, with a special committee proposing bilateral consultations that may be the last step before restrictive measures against Beijing.
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Oil prices climb to $49 per barrel
May 23 2005 2:11PM (CT)
VIENNA, Austria (AP) - Crude oil futures rose Monday, after drifting down earlier in the day. Prices for unleaded gasoline slipped, however.
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Thousands of BBC workers begin strike
May 23 2005 12:51PM (CT)
LONDON (AP) - Thousands of British Broadcasting Corp. journalists and technicians staged a 24-hour strike over proposed job cuts Monday, severely disrupting radio and TV programs.
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Trump unveils launch of Trump University
May 23 2005 12:18PM (CT)
NEW YORK (AP) - He's built buildings, written books, married models and starred in a reality TV show. On Monday, Donald Trump announced his latest venture: Trump University.
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Share prices rise on London exchange
May 23 2005 11:42AM (CT)
LONDON (AP) - Share prices rose Monday on the London Stock Exchange. The FTSE 100-share index climbed 18.0 points, or 0.4 percent, to close at 4,989.8.
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World Bank: Poor nations' aid $20B short
May 23 2005 11:17AM (CT)
AMSTERDAM, Netherlands (AP) - Aid to poor countries is running $20 billion short of goals set for wealthy nations, and the developing world needs the extra money in cash rather than debt relief or technical assistance, the World Bank's top economist said Monday.
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Khodorkovsky verdict reading ends for day
May 23 2005 10:51AM (CT)
MOSCOW (AP) - The verdict-reading in the politically sensitive trial of tycoon Mikhail Khodorkovsky completed its sixth day Monday, with the court picking up the pace of the drawn-out process but still many days away from making a final statement on guilt and sentence.
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2 ex-workers issue charges against Mentor
May 23 2005 9:44AM (CT)
WASHINGTON (AP) - Two former employees of a breast-implant manufacturer alleged the company covered up high rupture rates and workers were so fearful of bosses finding defective implant parts that they hid the parts in the ceiling.
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Infineon launches research initiative
May 23 2005 9:16AM (CT)
FRANKFURT, Germany (AP) - Chip maker Infineon Technologies AG said Monday it has formed a joint research initiative with IBM Corp. and Macronix International Co. to examine the potential of a new computer memory technology called phase-change memory, or PCM.
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PalmSource CEO David Nagel steps down
May 23 2005 8:54AM (CT)
SUNNYVALE, Calif. (AP) - PalmSource Inc., a developer of software for cell phones and other mobile devices, said Monday that David Nagel, its president, chief executive and a director, stepped down on Sunday. The company named Patrick McVeigh, senior vice president of worldwide licensing, as interim chief executive.
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Workers at Coca-Cola plants go on strike
May 23 2005 8:30AM (CT)
WASHINGTON (AP) - Workers at Coca-Cola Enterprises Inc., the world's largest bottler of Coca-Cola Co. drinks, went on strike Monday at bottling and distribution plants in Hartford, Conn., and the Los Angeles area.
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Telenor telecom group to buy suppliers
May 23 2005 7:40AM (CT)
OSLO, Norway (AP) - The Telenor ASA telecommunications group announced deals Monday to buy Swedish and Danish broadband suppliers for more than $1 billion.
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Mizuho fiscal-year profit up 54 percent
May 23 2005 7:38AM (CT)
TOKYO (AP) - Mizohu Financial Group Inc., the holding company for one of Japan's big four banking groups, said Monday its profit for the fiscal year that ended March 31 soared 54 percent.
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EU: Italy improperly counted cash advances
May 23 2005 6:58AM (CT)
BRUSSELS, Belgium (AP) - The European Union's statistics office said Monday that Italy had improperly counted as revenue cash advances from banks charged with collecting taxes in 2003 and 2004.
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Mitsubishi Motors fiscal-year loss widens
May 23 2005 6:49AM (CT)
TOKYO (AP) - Mitsubishi Motors Corp.'s loss widened to $4.4 billion and sales tumbled 16 percent for the latest fiscal year as the Japanese automaker struggles to regain customer trust in the wake of a defect coverup scandal in Japan. It expects to post a smaller loss for this year as sales pick up in Japan as well as overseas.
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High-speed train to link France, Germany
May 23 2005 6:25AM (CT)
PARIS (AP) - A new high-speed train line will link France and Germany from 2007, cutting travel time between Paris and Frankfurt to under four hours, officials said Monday.
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Japan investigates alleged bid-rigging
May 23 2005 6:23AM (CT)
TOKYO (AP) - Japanese authorities on Monday began investigating allegations of bid-rigging for public bridge construction projects after an anti-monopoly watchdog filed criminal complaints against eight major companies.
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Gas prices drop by average of 6 cents
May 23 2005 2:38AM (CT)
CAMARILLO, Calif. (AP) - The average gasoline price nationwide for all grades tumbled 6 cents in two weeks, continuing a slide in pump prices that began last month, an industry analyst said Sunday.
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Mobile slaughter units may niche marketers
May 23 2005 1:51AM (CT)
BILLINGS, Mont. (AP) - For Kris and Bill Martinell, getting their cattle from pasture to plate is quite an undertaking _ one that involves shipping the animals 2 1/2 hours from the family ranch in southwest Montana to the nearest government-inspected slaughterhouse.
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