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Car thieves targeting Cadillac Escalades
Jun 6 2006 11:39PM (CT)
WASHINGTON (AP) - The Cadillac Escalade, the bold and shiny luxury sport utility vehicle popular with Hollywood's A-List, rappers and star athletes, apparently also attracts an ill-intentioned constituency: car thieves.
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Japanese stocks lower, dollar edges up
Jun 6 2006 8:08PM (CT)
TOKYO (AP) - Japanese stocks were lower just after Wednesday's open, falling on broad-based selling and another decline in U.S. stocks. The dollar edged up against the yen and euro.
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Lawmakers criticize former Fannie Mae CEO
Jun 6 2006 8:07PM (CT)
WASHINGTON (AP) - Lawmakers and a federal regulator criticized the ousted former chief executive of Fannie Mae on Tuesday as a House panel aired government allegations of a six-year accounting fraud at the mortgage giant.
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Long bonds boosted as June rate hike looms
Jun 6 2006 4:34PM (CT)
NEW YORK (AP) - The heightened prospect of a Federal Reserve rate hike at the end of June helped boost long-dated U.S. Treasury prices Tuesday, amid further weakness in stocks.
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Investors try to read Bernanke's signals
Jun 6 2006 4:32PM (CT)
WASHINGTON (AP) - Wall Street had looked to the Federal Reserve's new plain-speaking chairman to cut through the Greenspeak of his predecessor. But investors think they're getting contradictory signals from Ben Bernanke, too, with his latest sending stocks into a nosedive.
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Northwest flight attendants reject cuts
Jun 6 2006 4:30PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. flight attendants rejected a pay cut package on Tuesday, setting up a possible showdown with the nation's fifth-largest carrier.
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GM CEO says turnaround progressing
Jun 6 2006 4:19PM (CT)
WILMINGTON, Del. (AP) - General Motors Corp. has made significant progress on its turnaround plan in the past year, reducing costs and rolling out new products, the company's chairman and chief executive told shareholders Tuesday.
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Bernanke comments, oil pressure metals
Jun 6 2006 4:18PM (CT)
NEW YORK (AP) - Comments on inflation from Federal Reserve Chief Ben Bernanke and a more conciliatory tone from Iran on its nuclear program combined to send gold and other precious metals sharply lower in New York Tuesday, traders and analysts said.
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Ex-NYU whiz kid pleads guilty in fund scam
Jun 6 2006 4:15PM (CT)
NEW HAVEN, Conn. (AP) - A former New York University student pleaded guilty to bank and wire fraud Tuesday, admitting he used his student ID and expertly forged documents to pose as the heir to a billionaire Turkish family and trick investors into pouring millions into a nonexistent hedge fund.
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Aircraft help reportedly an Iran incentive
Jun 6 2006 3:52PM (CT)
SEATTLE (AP) - A package of incentives aimed at persuading Iran to curb its nuclear program reportedly includes a way to help the country repair its fleet of aging civilian aircraft, which for years has been hindered by sanctions.
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Oil falls as Iran sees 'positive steps'
Jun 6 2006 3:31PM (CT)
WASHINGTON (AP) - Oil prices fell Tuesday after Iran's top nuclear negotiator cited "positive steps" in a package of incentives offered to it by world powers to curb its nuclear program.
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Dollar rises against major currencies
Jun 6 2006 3:14PM (CT)
NEW YORK (AP) - The dollar rose against most major currencies Tuesday, buoyed for the second day by Federal Reserve Chairman Ben Bernanke's comments on Monday that raised expectations of another interest rate hike.
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Survey: Wealthy Americans keen on market
Jun 6 2006 12:39PM (CT)
NEW YORK (AP) - Wealthy Americans are more optimistic about the stock market now than they were last year, but they also believe gains will be more muted in the future, according to a survey released Tuesday.
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Nortel Networks reports wider 1Q loss
Jun 6 2006 11:28AM (CT)
NEW YORK (AP) - Nortel Networks Corp. reported a wider first-quarter loss Tuesday on higher expenses and slightly lower sales, but the Canadian telecommunications equipment maker said it still expects revenue growth this year.
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Hewlett-Packard revises 2Q profit upward
Jun 6 2006 11:05AM (CT)
SAN JOSE, Calif. (AP) - Hewlett-Packard Co., a maker of computers and printers, raised its second-quarter profit by $443 million Tuesday and boosted its income forecast for the remainder of the year to reflect a tax settlement with the U.S. government.
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BAA accepts $19B Ferrovial takeover bid
Jun 6 2006 10:40AM (CT)
LONDON (AP) - BAA PLC, the world's biggest airport operator, accepted a sweetened 10 billion pound ($19 billion) takeover bid from a consortium led by Spain's Grupo Ferrovial SA on Tuesday, rejecting a higher offer from a group led by Goldman Sachs.
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Parmalat founder: Files will show 'truth'
Jun 6 2006 9:05AM (CT)
PARMA, Italy (AP) - Digitalized files of information detailing Parmalat's relationship with its banks should clarify "the truth" of the dairy company's collapse, Parmalat's founder and former CEO told reporters outside criminal proceedings on Tuesday.
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Bernanke jolts markets over inflation
Jun 6 2006 8:59AM (CT)
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke is promising that the central bank will remain vigilant in fighting inflation. The comments sent shock waves through financial markets hoping the Fed was about to call a cease-fire on interest rate increases.
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Bank of China IPO hearing set for Friday
Jun 6 2006 8:48AM (CT)
SHANGHAI, China (AP) - Fresh from a share listing in Hong Kong that raised $9.7 billion, Bank of China said Tuesday it plans to move ahead with a $2.5 billion initial public offering in Shanghai.
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Deutsche Boerse still seeks Euronext deal
Jun 6 2006 8:33AM (CT)
FRANKFURT, Germany (AP) - German stock-market operator Deutsche Boerse AG may still be able to take over Euronext NV despite that company's agreement with the New York Stock Exchange, the German company's chief executive told a newspaper in remarks published Tuesday.
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Asian markets tumble, tracking U.S. losses
Jun 6 2006 8:07AM (CT)
HONG KONG (AP) - Most Asian markets tumbled Tuesday, spooked by the drop in U.S. markets the day before and prospects of higher U.S. interest rates, which investors worry could slow U.S. and global growth.
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India's benchmark index drops 2.5 percent
Jun 6 2006 6:33AM (CT)
BOMBAY, India (AP) - Indian shares tumbled Tuesday, with the benchmark index dropping 2.5 percent and slipping below the 10,000 mark for the first time in 3 1/2 months as investors reacted to declines in global markets and a hike in domestic fuel prices.
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Chilly weather puts freeze on grape crops
Jun 6 2006 3:19AM (CT)
COLUMBUS, Ohio (AP) - Grape growers in Ohio, Michigan and New York are struggling to recover from a rare run of cold nights that may have destroyed up to 90 percent of farmers' crops in some places, agriculture officials say.
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Metal thieves likely to turn to aluminum
Jun 6 2006 2:28AM (CT)
DENVER (AP) - Thieves have been stealing copper for years as prices have risen, mostly an expensive nuisance. Now they are targeting aluminum products, with experts saying safety is at risk as everything from light poles to highway guard rails are disappearing.
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Japan set to pass law for investment funds
Jun 6 2006 12:44AM (CT)
TOKYO (AP) - Japan is preparing to pass a bill this month to tighten checks on investment funds following an arrest of a star fund manager who made his fame as a proponent of U.S.-style shareholder rights.
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