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Want aviation exposure? Buy jets
Jul 7 2005 11:49PM (CT)
NEW YORK (AP) - Most aviation experts agree that more and more people will fly in airplanes. What's not clear is which airlines will survive to actually fly those airplanes.
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Cisco names new chief development officer
Jul 7 2005 11:47PM (CT)
SAN JOSE, Calif. (AP) - Cisco Systems Inc. named Charles H. Giancarlo as its new chief development officer, succeeding Mario Mazzola who is retiring.
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Japanese stocks rise, dollar up vs. yen
Jul 7 2005 10:01PM (CT)
TOKYO (AP) - Japanese stocks rose Friday as traders reacted calmly to the attacks on London's mass transit systems. The dollar was trading higher against the yen.
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Purcell to get $44 million bonus
Jul 7 2005 9:59PM (CT)
NEW YORK (AP) - Former Morgan Stanley Chairman and Chief Executive Phil Purcell will receive $43.9 million in bonus money, $250,000 per year for life, health benefits and even office help as part of his severance with the company he led for eight years.
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Oil prices fall but remain above $60
Jul 7 2005 9:51PM (CT)
SINGAPORE (AP) - Crude oil prices fell Friday, a day after the bomb blasts in London, and amid a rise in U.S. supplies of heating oil and jet fuel.
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Int'l travel may slip after London blasts
Jul 7 2005 9:35PM (CT)
WASHINGTON (AP) - International travel bookings are expected to soften slightly as Thursday's deadly explosions in London stoke tourists' terrorism fears. A slump in trans-Atlantic tourism would hurt what has been a bright spot for the beleaguered airline industry, though analysts said the impact should be minor and short-lived, reflecting travelers' increasing resilience to unsettling world events.
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Ex-McDonald's manager wins AIDS bias suit
Jul 7 2005 9:21PM (CT)
CLEVELAND (AP) - A jury ruled Thursday that McDonald's Corp. discriminated against a restaurant manager who claimed he was forced out of his job after the company learned he had AIDS.
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San Francisco Examiner publisher resigns
Jul 7 2005 9:19PM (CT)
SAN FRANCISCO (AP) - After guiding The Examiner through its latest change of ownership, P. Scott McKibben is stepping down as publisher of the 125-year-old San Francisco newspaper.
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Siebel says 2Q revenue to miss outlook
Jul 7 2005 7:51PM (CT)
SAN MATEO, Calif. (AP) - Business software maker Siebel Systems Inc.'s long-running slump continued in the second quarter as its financial results continued to lag the expectations of a management team brought in to engineer a turnaround.
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Retail sales get boost from summer weather
Jul 7 2005 7:33PM (CT)
NEW YORK (AP) - The arrival of summer prevailed over consumers' worries about rising oil prices last month, sending shoppers into stores and giving retailers their best performance in more than a year.
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Stores unlikely to use consumer incentives
Jul 7 2005 6:16PM (CT)
NEW YORK (AP) - While consumers may be able to buy most of the current car models from the top three U.S. automakers at employee discount rates, they shouldn't expect the same incentives for power boats, furniture or other big-ticket items.
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Alcoa second-quarter earnings rise 14 pct.
Jul 7 2005 6:03PM (CT)
PITTSBURGH (AP) - Alcoa Inc., one of the world's largest aluminum producers, said Thursday that its second-quarter profit rose 14 percent as results were boosted by its sale of an interest in a Norwegian metals business and tax benefits.
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Groups fret proposed health plan merger
Jul 7 2005 5:50PM (CT)
LOS ANGELES (AP) - The proposed merger of UnitedHealth Group Inc., the nation's second-largest health insurer, and PacifiCare Health Systems Inc. may have won praise from Wall Street, but consumer groups worry it will mean higher costs and less coverage for millions of Americans.
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SEC seeks to pursue Scrushy civil case
Jul 7 2005 5:27PM (CT)
BIRMINGHAM, Ala. (AP) - The Securities and Exchange Commission asked a judge Thursday to let it pursue a civil fraud case against former HealthSouth CEO Richard Scrushy despite his acquittal on criminal charges of orchestrating a $2.7 billion accounting fraud.
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H&R Block buys small online tax company
Jul 7 2005 5:13PM (CT)
KANSAS CITY, Mo. (AP) - One month after pledging to stanch the loss of customers from its digital tax business, H&R Block Inc. said Thursday it has acquired a small, online tax service company whose founders helped create the popular Turbo Tax software.
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Barclays bid for control of Absa Ok'd
Jul 7 2005 5:13PM (CT)
JOHANNESBURG, South Africa (AP) - A Johannesburg court on Thursday approved British bank Barclays PLC's 33 billion-rand ($5.6 billion) bid for a controlling stake in Absa Group Ltd., clearing the way for the biggest single foreign investment in a South African company.
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Omnicare to buy NeighborCare for $1.55B
Jul 7 2005 5:13PM (CT)
COVINGTON, Ky. (AP) - Omnicare Inc., a provider of pharmaceuticals and other services to elderly care facilities, said Thursday it has reached an agreement to buy rival NeighborCare Inc. for about $1.55 billion.
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Wendy's 2Q sales hurt by finger hoax
Jul 7 2005 5:09PM (CT)
DUBLIN, Ohio (AP) - Wendy's International Inc. said on Thursday sales at its burger restaurants opened at least a year fell 4 percent in the second quarter, hurt mainly by a woman's false claim that she found part of a finger in her chili.
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Walgreen pharmacists strike at 400 stores
Jul 7 2005 5:08PM (CT)
CHICAGO (AP) - A union representing 1,200 pharmacists at Chicago area Walgreen Co. stores said Thursday early indicators showed "overwhelming support" for a strike over what it says are low staffing levels and growing workloads.
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Saks Fifth Ave to close private label
Jul 7 2005 4:48PM (CT)
NEW YORK (AP) - Saks Inc. on Thursday said its Saks Fifth Avenue Enterprises segment plans to close its private-label brand and its product-development division by the end of September, citing its strategy to focus on upscale designer merchandise.
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Money funds rise in latest week
Jul 7 2005 4:47PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds rose by $7.25 billion in the latest week to $810.25 billion, the Investment Company Institute said Thursday.
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Pretrial arguments heard in Vioxx trial
Jul 7 2005 4:46PM (CT)
ANGLETON, Texas (AP) - Lawyers preparing for the nation's first state Vioxx-related wrongful death lawsuit to go to trial argued Thursday over what expert testimony jurors would hear.
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Bonds rise after London bomb attacks
Jul 7 2005 4:45PM (CT)
NEW YORK (AP) - Bond prices rose moderately Thursday after bomb attacks in London sent buyers looking for safe investments. At least 37 people died and more than 700 were wounded when four blasts targeted the public transport system during the morning rush hour.
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Analysts question Iacocca in Chrysler ads
Jul 7 2005 4:31PM (CT)
DETROIT (AP) - Chrysler has scooped up some coveted street cred in recent months, with the Chrysler 300C appearing in a Snoop Dogg video and rapper 50 Cent angling for a Dodge Charger, another of the carmaker's models. The momentum has prompted some observers to question Chrysler's decision to feature former boss Lee Iacocca _ an octogenarian and inventor of the minivan _ in its new ads.
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Charles Schwab rebuffs takeover talk
Jul 7 2005 4:14PM (CT)
SAN FRANCISCO (AP) - Charles Schwab Corp. reiterated it's not for sale after the company's stock soared to a 52-week high Thursday as investors bet the discount stock brokerage pioneer would be swept up in a wave of industry takeovers.
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Shares of biometric, security firms jump
Jul 7 2005 4:07PM (CT)
BOSTON (AP) - Investors jumped to buy shares of companies that sell biometric technology, video surveillance and other security services after Thursday's bombings in London.
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Thursday's Commodities Roundup
Jul 7 2005 4:02PM (CT)
NEW YORK (AP) - Oil prices staged a sharp recovery from deep intraday losses Thursday, as concern over a strengthening Hurricane Dennis overshadowed uncertainty created by the bomb blasts in London.
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Guidant faces legal battles after recalls
Jul 7 2005 4:00PM (CT)
INDIANAPOLIS (AP) - Guidant Corp., which has recalled 87,600 implantable cardiac defibrillators in three weeks, is facing mounting legal pressure from angry shareholders and frightened patients.
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Accenture 3Q profit rises on sales jump
Jul 7 2005 3:48PM (CT)
NEW YORK (AP) - Accenture Ltd., the world's largest management and technology consulting firm, said Thursday its third-quarter profit rose from last year as sales increased 11 percent.
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Europe stocks sag, pound at 19-month low
Jul 7 2005 3:39PM (CT)
LONDON (AP) - Stocks sank in Europe and the British pound hit a 19-month low against the U.S. dollar after a series of explosions in London's transportation system Thursday, but analysts said market recoveries later in the day suggested the economic effects would be brief.
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Media honchos face weaker ad climate
Jul 7 2005 3:32PM (CT)
SUN VALLEY, Idaho (AP) - Just days before they gathered for an annual retreat in this Idaho resort, media CEOs got some bad news about advertising when a key forecaster trimmed estimates for ad spending for the rest of 2005.
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Moody's considering GM cut to junk
Jul 7 2005 3:20PM (CT)
NEW YORK (AP) - Moody's Investors Service on Thursday said it is reviewing a possible downgrade of General Motors Corp. debt to junk status, citing concern about the cost of escalating incentives, a consumer shift to more fuel efficient vehicles and long-term pressure on U.S. market share.
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Allianz faces exposure after blasts
Jul 7 2005 3:06PM (CT)
FRANKFURT, Germany (AP) - Allianz AG said it was facing a 1 million euros to 9 million euros ($1.2 million to $10.7 million) exposure from the bus and subway explosions in London on Thursday because of its participation in a terrorist-risk coverage plan led by the British government.
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Bid to standardize Parmesan cheese fails
Jul 7 2005 2:55PM (CT)
ROME (AP) - A U.S.-led bid to make an international standard for Parmesan cheese that could be produced anywhere failed Thursday after Italy and the European Union insisted it must come from the area around Parma, U.N. and Italian officials said.
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Study claims malpractice rates climbing
Jul 7 2005 1:04PM (CT)
HARTFORD, Conn. (AP) - The rates insurers charge physicians for medical malpractice coverage rose dramatically over the past five years, but the amount insurers paid out in claims did not, according to a study from a consumer advocacy group.
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Mortgage rates rise around the country
Jul 7 2005 1:03PM (CT)
WASHINGTON (AP) - Mortgage rates around the country rose this week but remain at a level that should continue to support the buoyant housing market.
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Retrial set in alleged mutual funds scam
Jul 7 2005 12:55PM (CT)
NEW YORK (AP) - A former Bank of America broker, acquitted last month on most counts related to after-hours mutual fund trades, will be retried on four charges on which the jury was unable to reach a verdict, prosecutors said Thursday.
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British stocks fall after explosions
Jul 7 2005 12:25PM (CT)
LONDON (AP) - Share prices on the London Stock Exchange closed lower Thursday after a series of morning rush-hour explosions in London.
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ECB keeps key rate steady at 2 percent
Jul 7 2005 10:43AM (CT)
FRANKFURT, Germany (AP) - The European Central Bank kept its key interest rate unchanged at 2 percent Thursday after news of terrorist attacks on the London transport network rattled financial markets.
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Greek government says economy on track
Jul 7 2005 10:25AM (CT)
ATHENS, Greece (AP) - Greece's conservative government said Thursday it would tame a large budget deficit and overhaul a rickety pension system after an OECD report said government growth forecasts were too optimistic.
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Japan wakes up to big asbestos problem
Jul 7 2005 9:48AM (CT)
TOKYO (AP) - One after another, Japanese companies have come forward for the first time to reveal that hundreds of employees who handled asbestos may have died from exposure, prompting worries of widespread contamination by the powerful carcinogen.
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Electrolux to divest Indian operation
Jul 7 2005 9:45AM (CT)
STOCKHOLM, Sweden (AP) - Swedish appliance maker Electrolux AB said Thursday it is selling its money-losing operation in India, including its three production facilities, to Videocon Industries Ltd., one of India's largest industrial groups.
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Japan, South Africa agree to study pact
Jul 7 2005 9:43AM (CT)
TOKYO (AP) - Japan and South Africa on Thursday agreed to set up a committee to study the possibility of starting free-trade talks, Tokyo's first with an African nation, an official said.
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Gazprom signs asset-swap deal with Shell
Jul 7 2005 9:25AM (CT)
MOSCOW (AP) - Russia's natural gas giant, Gazprom, signed a memorandum with the Royal Dutch/Shell Group of Cos. on Thursday in a landmark asset-swap deal that gives the state-run gas monopoly a key foothold in a major liquefied natural gas project.
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DaimlerChrysler to introduce new truck
Jul 7 2005 9:07AM (CT)
FRANKFURT, Germany (AP) - DaimlerChrysler AG said Thursday it will introduce a new commercial truck model for the North American market next year.
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Mercedes June global auto sales climb
Jul 7 2005 9:03AM (CT)
FRANKFURT, Germany (AP) - DaimlerChrysler AG said Thursday that sales at its Mercedes Car Group rose 5 percent in June from the same month last year.
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Indonesian court rules on mining cos.
Jul 7 2005 8:43AM (CT)
JAKARTA, Indonesia (AP) - Thirteen mining companies will be able to operate in protected forests in Indonesia after the country's highest court Thursday rejected a petition by environmental groups claiming the practice violated the constitution.
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Target same-store sales beat estimates
Jul 7 2005 8:28AM (CT)
MINNEAPOLIS (AP) - Target Corp., the nation's second-largest discount chain, said Thursday that June sales jumped 9 percent at stores open at least a year, outpacing Wall Street estimates.
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Federated June same-store sales rise
Jul 7 2005 7:53AM (CT)
CINCINNATI (AP) - Federated Department Stores Inc., the operator of Bloomingdale's and Macy's, said Thursday that June sales in its department stores open at least one year rose 2.9 percent.
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Judges send Nestle-Mars spat back to court
Jul 7 2005 7:39AM (CT)
BRUSSELS, Belgium (AP) - The European Court of Justice on Thursday sent back to British courts a dispute between candy bar makers Nestle SA and Mars Inc. over Nestle's request to trademark the slogan "have a break" for its Kit Kat bars.
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Deutsche Bank to sell parts of business
Jul 7 2005 7:18AM (CT)
FRANKFURT, Germany (AP) - Deutsche Bank AG, Germany's biggest bank, said Thursday it will sell part of its asset management business in Britain and the U.S. for about 265 million pounds ($465 million) to Britain's Aberdeen Asset Management.
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State Department warns Boeing may be fined
Jul 7 2005 7:01AM (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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Bank of England holds key rate steady
Jul 7 2005 6:45AM (CT)
LONDON (AP) - The Bank of England resisted calls to cut the cost of borrowing on Thursday as it held its main interest rate at 4.75 percent for an 11th straight month.
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Wal-Mart same-store sales up 4.5 percent
Jul 7 2005 6:44AM (CT)
BENTONVILLE, Ark. (AP) - Retail giant Wal-Mart Stores Inc. on Thursday said improved business at domestic Wal-Marts drove a moderate rise in same-store sales last month. The company reaffirmed its second-quarter earnings estimate.
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European markets sink after London blasts
Jul 7 2005 6:42AM (CT)
LONDON (AP) - Stocks plummeted in Europe on Thursday after a series of rush-hour explosions in London's subway system and aboard the city's famed double-decker buses. Insurance and travel stocks fell sharply, and the British pound sank.
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Pepsi Bottling 2Q profit rises
Jul 7 2005 5:57AM (CT)
SOMERS, N.Y. (AP) - Pepsi Bottling Group Inc., the world's largest maker and distributor of Pepsi beverages, said Thursday that second-quarter earnings rose 4.2 percent from last year, lifted by the launch of new products such as Pepsi Lime and Tropicana Twister.
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Korea's key stock index rises
Jul 7 2005 5:09AM (CT)
SEOUL, South Korea (AP) - South Korean stocks rose to a 5 1/2-year-high Thursday as a weaker local currency helped boost major exporters such Samsung Electronics and Hyundai Motor.
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Malaysia to remove protection for Proton
Jul 7 2005 4:25AM (CT)
KUALA LUMPUR, Malaysia (AP) - Malaysia's government is committed to removing its protections for national car maker Proton and demands that the company improve its quality to better compete with foreign manufacturers, the prime minister said Thursday.
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Kansas wheat quality up as much as 12 pct.
Jul 7 2005 1:09AM (CT)
WICHITA, Kan. (AP) - Early data on Kansas' wheat harvest shows that 63 percent of the state's signature crop is of the highest quality, one year after drought took a toll on wheat, agriculture officials said.
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Australia's jobless rate falls to 5 pct.
Jul 7 2005 12:49AM (CT)
SYDNEY, Australia (AP) - Australia's unemployment rate fell to 5.0 percent in June, its lowest rate since 1976, Prime Minister John Howard said Thursday.
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U.S. films feel heat from Hong Kong movie
Jul 7 2005 12:15AM (CT)
HONG KONG (AP) - Darth Vader, Angelina Jolie and Brad Pitt are feeling the heat at the box office from an unusual rival in Asia _ a movie based on a Japanese comic book, directed by Hong Kongers and starring a Taiwanese pop star making his debut in the movies.
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