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Walgreen pharmacists launch Chicago strike
Jul 6 2005 10:58PM (CT)
CHICAGO (AP) - About 1,200 pharmacists at some 400 Walgreen Co. stores in the Chicago area went on strike Wednesday night, a union official said.
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Japan stocks fall; dollar up against yen
Jul 6 2005 10:32PM (CT)
TOKYO (AP) - Japanese stocks fell Thursday morning amid concerns about the vulnerability of resource-poor Japan to surging oil prices. The dollar was up against the yen and the euro.
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City National Bank discloses data loss
Jul 6 2005 10:22PM (CT)
LOS ANGELES (AP) - A data security firm lost or destroyed two backup data tapes with personal and financial records of City National Bank customers, officials said.
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UnitedHealth to buy PacifiCare for $8.1B
Jul 6 2005 10:19PM (CT)
LOS ANGELES (AP) - The nation's second-largest managed health insurer, UnitedHealth Group Inc., agreed Wednesday to acquire major Medicare provider PacifiCare Health Systems Inc. in an $8.1 billion cash-and-stock deal that gives a niche West Coast player access to a national network while moving UnitedHealth deeper into government-related business.
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Oil prices top $60 a barrel on storm fears
Jul 6 2005 9:46PM (CT)
WASHINGTON (AP) - Oil prices climbed nearly 3 percent to finish at a record above $61 a barrel on Wednesday and analysts warned of an imminent spike in the retail cost of gasoline as storm-related power outages disrupted some oil production and refining operations in the Gulf of Mexico.
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GM can seek recovery of pension costs
Jul 6 2005 9:40PM (CT)
DETROIT (AP) - A federal judge has ruled that General Motors Corp. can seek as much as $253 million in pension costs from the federal government.
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Boeing to pay new CEO $1.75M base salary
Jul 6 2005 9:27PM (CT)
CHICAGO (AP) - Boeing Co. will pay new CEO W. James McNerney a $1.75 million base salary and an annual cash bonus of as much as $4 million, according to a regulatory filing Wednesday.
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Union extends voting on Onex unit offer
Jul 6 2005 8:51PM (CT)
WICHITA, Kan. (AP) - Engineers, technicians and professional workers who took jobs with Onex Corp.'s Mid-Western Aircraft Systems Inc. will have until next week to vote on separate contract offers from their new employer.
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Wal-Mart employees in Okla. file lawsuit
Jul 6 2005 8:35PM (CT)
OKLAHOMA CITY (AP) - Two employees of Wal-Mart Stores Inc. and a former worker have filed a lawsuit alleging the retailer retaliated against workers who file workers' compensation claims.
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CNOOC pledges to honor Unocal commitments
Jul 6 2005 8:25PM (CT)
LOS ANGELES (AP) - A spokesman for China's state-owned CNOOC Ltd. pledged Wednesday that the company would uphold environmental and worker protection commitments if the company's bid for Unocal Corp. is successful.
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Bonds rise, reversing two days of losses
Jul 6 2005 6:48PM (CT)
NEW YORK (AP) - Bond prices rose Wednesday, reversing two days of losses, as the market looked ahead to an employment report later this week.
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Wednesday's commodities roundup
Jul 6 2005 6:47PM (CT)
NEW YORK (AP) - Oil prices hit record highs Wednesday due to refinery outages caused by Tropical Storm Cindy, along with uncertainty over a more menacing storm on the way.
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Chrysler matches GM, Ford on discount plan
Jul 6 2005 6:27PM (CT)
DETROIT (AP) - DaimlerChrysler AG's Chrysler Group became the last of the Big Three carmakers to slap employee discounts on its vehicles Wednesday, raising the stakes in a price war with a very uncertain outcome.
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Martha Stewart cuts stake in company
Jul 6 2005 5:03PM (CT)
WASHINGTON (AP) - Martha Stewart has cut her stake in Martha Stewart Living Omnimedia Inc. to 56.3 percent of Class A common shares from 58.74 percent, according to a regulatory filing Wednesday.
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State Department warns Boeing may be fined
Jul 6 2005 4:31PM (CT)
SEATTLE (AP) - The State Department has reportedly warned Boeing Co. that the aerospace titan could be fined up to $47 million because it sold commercial airliners to China and other countries without obtaining an export license for a tiny electronic chip that has defense applications.
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GE unit to acquire CIT aircraft assets
Jul 6 2005 4:30PM (CT)
STAMFORD, Conn. (AP) - GE Commercial Finance, a financial services arm of General Electric Co., said Wednesday that it agreed to acquire about $1 billion in aircraft assets from CIT Group Inc., a provider of commercial and consumer finance services.
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Trump names James Perry as casino CEO
Jul 6 2005 4:11PM (CT)
NEWARK, N.J. (AP) - James B. Perry, the former chief executive of a riverboat casino company, has been appointed CEO of Trump Entertainment Resorts, Chairman Donald J. Trump said Wednesday.
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Alltel's acquisition tentatively OK'd
Jul 6 2005 4:07PM (CT)
LITTLE ROCK (AP) - The Justice Department on Wednesday tentatively approved Alltel Corp.'s $4.4 billion acquisition of Western Wireless Corp. on condition that Alltel divest some of its rural properties.
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Zions Bancorp to acquire Amegy Bancorp
Jul 6 2005 3:51PM (CT)
SALT LAKE CITY (AP) - Zions Bancorp, which operates in eight Western states, has agreed to purchase Amegy Bancorp, the third-largest independent commercial bank in Texas, for about $1.7 billion in cash and stock in a move to enter the Texas market, Zions said Wednesday. Shares of both companies tumbled on the news.
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Contract drivers in Tenn. sue FedEx
Jul 6 2005 3:49PM (CT)
MEMPHIS, Tenn. (AP) - FedEx delivery drivers argue in a federal lawsuit that the company so tightly controls their work they should be employees rather than independent contractors.
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NTSB: Wal-Mart heir reported no problems
Jul 6 2005 3:25PM (CT)
JACKSON, Wyo. (AP) - Wal-Mart heir John T. Walton reported no problems to air traffic controllers before his tiny aircraft crashed last month, killing him, federal investigators said Wednesday.
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Media honchos converge on Idaho resort
Jul 6 2005 2:43PM (CT)
SUN VALLEY, Idaho (AP) - Chief executives of entertainment firms converging on this Idaho mountain resort face some troubling issues, including a slump at the box office and signs that the surge in DVD sales of movies may be slowing.
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UnitedHealth to buy PacifiCare
Jul 6 2005 2:13PM (CT)
CYPRESS, Calif. (AP) - Health insurance giant UnitedHealth Group Inc. said Wednesday it has agreed to purchase PacifiCare Health Systems Inc. for $2.2 billion in cash and 111.6 million shares.
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Union workers at all Asarco copper strike
Jul 6 2005 2:12PM (CT)
TUCSON, Ariz. (AP) - Close to 1,500 union workers were on strike Wednesday at six Asarco copper-mining facilities, five of them in Arizona and another in Texas.
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Wolfowitz eyes African corruption
Jul 6 2005 1:50PM (CT)
EDINBURGH, Scotland (AP) - World Bank President Paul Wolfowitz said Wednesday that both African nations and developing countries had a responsibility to tackle corruption that is damaging the continent.
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Denver-based co. sells stake in gas field
Jul 6 2005 1:16PM (CT)
DENVER (AP) - A group of California utilities has purchased part of a key Wyoming natural gas field from the Anschutz Pinedale Corp. for $300 million.
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Attendants, ExpressJet in tentative deal
Jul 6 2005 1:09PM (CT)
HOUSTON (AP) - ExpressJet Airlines has reached a tentative four-year pact with its 1,200 flight attendants, the union representing those employees announced Wednesday.
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Auto discounts help boost service sector
Jul 6 2005 1:05PM (CT)
NEW YORK (AP) - The huge discounts automakers offered on new cars last month did more than clear out dealers' inventory _ they helped boost activity in the nation's service sector at a faster than expected pace.
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ECB is expected to hold rates steady
Jul 6 2005 12:57PM (CT)
FRANKFURT, Germany (AP) - With the euro losing its momentum against the dollar, oil back at $60 a barrel and economic growth in Europe slowing, the European Central Bank is facing louder and more frequent calls for a rate cut.
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Prosecutors, VW say probe to take months
Jul 6 2005 12:17PM (CT)
FRANKFURT, Germany (AP) - Prosecutors said Wednesday that an investigation of bribery and kickback allegations at Volkswagen AG will take months in a case that has focused attention on the automaker's cozy relationship with its labor leaders.
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London shares close higher
Jul 6 2005 11:58AM (CT)
LONDON (AP) - Share prices were higher on the London Stock Exchange on Wednesday.
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Merrill names David Kornblau as 1st v.p.
Jul 6 2005 11:38AM (CT)
WASHINGTON (AP) - Merrill Lynch & Co. Wednesday named one of the Securities and Exchange Commission's top enforcement lawyers as head of regulatory affairs and first vice president.
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Utility faces trial on clean air charges
Jul 6 2005 10:36AM (CT)
COLUMBUS, Ohio (AP) - The nation's largest power generator broke clean air rules when it made major modifications to nine plants without installing equipment that would have cut pollution drastically, a Justice Department lawyer said at the start of a trial Wednesday.
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AIG names former SEC Chairman as adviser
Jul 6 2005 10:12AM (CT)
NEW YORK (AP) - Under fire from regulators for accounting irregularities, the American International Group Inc. has hired Arthur Levitt, the former chairman of the Securities and Exchange Commission, as a special adviser.
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Probe at DaimlerChrysler expands to 17
Jul 6 2005 10:08AM (CT)
STUTTGART, Germany (AP) - An investigation of alleged irregularities at DaimlerChrysler AG's German sales division has expanded to cover 17 people, prosecutors said Wednesday, while the automaker said it had completed an internal probe.
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Report: German auto sales expand
Jul 6 2005 10:07AM (CT)
BERLIN (AP) - Germany's auto market grew in the first half of 2005 after five years of decline, as domestic demand increased and exports held steady, carmaker group VDA said Wednesday.
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Stora Enso says dispute will hurt earnings
Jul 6 2005 9:43AM (CT)
HELSINKI, Finland (AP) - A seven-week paper industry dispute in Finland will weaken Stora Enso Oyj's second-quarter result by 150 million euros ($180 million), the Finnish-Swedish forest products company said Wednesday.
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Deutsche Borse CEO ousting said proper
Jul 6 2005 9:16AM (CT)
FRANKFURT, Germany (AP) - Shareholders in Deutsche Boerse AG broke no rules when they ousted the stock exchange operator's chief executive, German authorities said Wednesday.
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GM says vehicle sales in China set record
Jul 6 2005 9:14AM (CT)
BEIJING (AP) - General Motors Corp., the world's biggest automaker, said Wednesday its sales in China jumped 18.9 percent in the first half of this year to a record 308,722 vehicles.
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BART workers, management avoid strike
Jul 6 2005 8:57AM (CT)
OAKLAND, Calif. (AP) - A Bay Area Rapid Transit walkout was averted early Wednesday when unionized workers reached a deal with management less than two hours before the trains that carry more than 300,000 riders each day were threatened to be shut down.
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7 cos. report asbestos-linked deaths
Jul 6 2005 8:50AM (CT)
TOKYO (AP) - Seven Japanese companies on Wednesday said a total of 51 workers who had handled asbestos had died in recent decades, raising to 294 the death toll at 10 companies.
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Reports: Court freezes Yukos' Sibneft stake
Jul 6 2005 8:27AM (CT)
MOSCOW (AP) - The chief executive of Russian oil company Rosneft said Wednesday that a court had frozen assets held by the beleaguered Yukos oil producer, including part of a stake in a former merger partner, news agencies reported.
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Japan leader faces fight on postal reform
Jul 6 2005 8:27AM (CT)
TOKYO (AP) - Japanese Prime Minister Junichiro Koizumi staked the future of his government Wednesday on the battle to privatize the massive postal savings system, saying rejection of the package by the upper house of Parliament would equal a no-confidence vote.
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GE Commercial Finance to buy CIT assets
Jul 6 2005 8:21AM (CT)
STAMFORD, Connecticut (AP) - GE Commercial Finance, a financial services arm of General Electric Co., says it has agreed to acquire about $1 billion (euro840 million) in aircraft assets from CIT Group Inc., a provider of commercial and consumer finance services.
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Bush predicts rise of hydrogen-powered cars
Jul 6 2005 8:04AM (CT)
COPENHAGEN, Denmark (AP) - President Bush said Wednesday that the United States must move away from fossil fuels and predicted a rise in hydrogen-powered cars.
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Airline cutting pretzels to trim costs
Jul 6 2005 7:57AM (CT)
CHARLOTTE, N.C. (AP) - Passengers who love those little bags of pretzels given away aboard US Airways flights had better move fast to get some more because the airline is cutting them from the menu.
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Dutch economy shrinks 0.5 percent in 1Q
Jul 6 2005 7:49AM (CT)
AMSTERDAM, Netherlands (AP) - The Dutch economy shrank by half a percent in the first quarter of this year, more than previously estimated, the Central Bureau of Statistics reported Wednesday.
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Asiana Airlines pilots plan to resume work
Jul 6 2005 7:47AM (CT)
SEOUL, South Korea (AP) - Unionized pilots at Asiana Airlines, South Korea's second-largest carrier, said Wednesday they planned to return to work after a one-day walkout _ but they warned of a full-scale strike if there is no progress in meeting their demands in coming days.
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Goldman, bank to invest in studio operator
Jul 6 2005 7:23AM (CT)
TOKYO (AP) - Goldman Sachs Group Inc. and a Japanese state-owned bank will invest a combined 25 billion yen ($224 million) in an unlisted company that runs Universal Studios Japan, the theme park operator said Wednesday.
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BMW says June global sales up 12 percent
Jul 6 2005 7:22AM (CT)
FRANKFURT, Germany (AP) - Automaker BMW AG said Wednesday that worldwide sales of its cars rose nearly 12 percent in June and 9 percent for the first six months of the year.
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MAN pulls out of talks to buy engine unit
Jul 6 2005 7:19AM (CT)
FRANKFURT, Germany (AP) - MAN AG, Germany's second-biggest truck maker, has pulled out of talks to buy a diesel engine unit from DaimlerChrysler AG, the German-American automaker said Wednesday.
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Blueberry business shifts from N.J. roots
Jul 6 2005 1:19AM (CT)
PEMBERTON TOWNSHIP, N.J. (AP) - Frank Detrick was a young teacher in the late 1940s when he heard that by growing blueberries, he could make $1,000 _ about $7,800 in today's money _ per acre each year.
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