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Disney, disgruntled directors reach truce
Jul 8 2005 9:50PM (CT)
LOS ANGELES (AP) - The Walt Disney Co. and two ex-directors who waged a bitter two-year fight have agreed to a truce, including dropping a contentious shareholder lawsuit challenging the selection of the company's new chief executive.
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Bonds fall on unemployment report
Jul 8 2005 9:45PM (CT)
NEW YORK (AP) - Bond prices fell Friday as an employment report signaled the economy was growing, albeit modestly.
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Brazil, Abbott reach AIDS drug agreement
Jul 8 2005 6:42PM (CT)
RIO DE JANEIRO, Brazil (AP) - Brazil decided not to break the patent on a key AIDS drug after Abbott Laboratories agreed to significantly reduce the drug's price over the next six years, the Brazilian Health Ministry said Friday.
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Oil prices slip below $60 per barrel
Jul 8 2005 6:33PM (CT)
WASHINGTON (AP) - Oil prices fell below $60 a barrel on Friday, reversing course late in the day as traders booked profits following a runup predicated on the fear of hurricane-related supply disruptions.
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Morningstar receives SEC subpoena
Jul 8 2005 5:33PM (CT)
CHICAGO (AP) - The Securities and Exchange Commission has subpoenaed the consulting unit of Morningstar Inc. for information it offered to sellers of retirement plans, the mutual fund and stock research company said Friday.
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Alcoa shares rise after strong earnings
Jul 8 2005 5:00PM (CT)
PITTSBURGH (AP) - Shares of Alcoa Inc. rose Friday after the aluminum producer reported its highest quarterly income and revenue in company history, with sales growth driven by higher volumes and the acquisition of fabricating facilities in Russia.
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Tourists give hope to London businesses
Jul 8 2005 4:43PM (CT)
LONDON (AP) - Tourists braved initial fears to visit London's greatest attractions Friday, using the subway system a day after deadly terrorist blasts tore through the city's transport system and giving hope to businesses that the financial ill-effects would be short-lived.
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UPS to offer express service in China
Jul 8 2005 4:28PM (CT)
ATLANTA (AP) - United Parcel Service Inc. has expanded its operations in China, announcing it will offer express package service across much of the country by September, officials said.
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H&R Block to miss annual report deadline
Jul 8 2005 4:24PM (CT)
KANSAS CITY, Mo. (AP) - H&R Block Inc. said Friday that it will miss the deadline to file its annual report with the Securities and Exchange Commission because it needs more time to finish restatements of earnings from 2003 and 2004.
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Automakers attending MLB's All-Star Game
Jul 8 2005 4:21PM (CT)
DETROIT (AP) - From the long line of Corvettes in the players' parade to HHR crossovers perched atop the center-field wall, General Motors Corp. will be giving All-Star game fans constant reminders of the Motor City's biggest claim to fame.
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CMS Energy to settle lawsuit for $12M
Jul 8 2005 4:17PM (CT)
JACKSON, Mich. (AP) - Utility holding company CMS Energy Corp. said Friday it agreed to a $12 million settlement of a shareholder lawsuit that alleged executives fell short of their duties by allowing so-called "round-trip" energy trading.
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Friday's Commodities Roundup
Jul 8 2005 4:14PM (CT)
NEW YORK (AP) - Oil prices fell more than $1 Friday on hopes that Hurricane Dennis will leave energy production in the Gulf of Mexico largely unscathed.
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Consumers reduce borrowing in May
Jul 8 2005 3:31PM (CT)
WASHINGTON (AP) - Consumers, showing some caution about piling up new debt, reduced their borrowing in May for the first time in 18 months, the Federal Reserve reported Friday.
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Ruth's Chris steaks its future on IPO
Jul 8 2005 3:23PM (CT)
WASHINGTON (AP) - Ruth's Chris Steak House Inc., the restaurant with the odd name, wants to add a side of stock to its servings of steak.
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Trump trying to buy land he already owns
Jul 8 2005 3:11PM (CT)
CAMDEN, N.J. (AP) - The Donald upped the ante Friday on his latest deal: trying to buy an Atlantic City property one of his companies already owns.
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Trumps battle in Vegas real-estate market
Jul 8 2005 2:34PM (CT)
NEW YORK (AP) - Real estate mogul Donald Trump is going head-to-head with one of his ex-wives _ this time in the real-estate arena. Trump and ex-wife Ivana have both jumped into the volatile Las Vegas market, where each is building competing luxury condominium projects.
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Putin confirms Gazprom talks with Sibneft
Jul 8 2005 2:02PM (CT)
GLENEAGLES, Scotland (AP) - Russian President Vladimir Putin confirmed Friday that state-controlled gas monopoly Gazprom is in talks with Chelsea football club owner Roman Abramovich's Sibneft oil company to purchase a block of shares.
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World Bank president hails Africa package
Jul 8 2005 2:00PM (CT)
GLENEAGLES, Scotland (AP) - World Bank President Paul Wolfowitz on Friday hailed the plan by major industrialized countries to alleviate poverty in Africa, but insisted success depended on rich nations and African leaders delivering on their commitments.
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Attacks complicate monitoring oil prices
Jul 8 2005 1:48PM (CT)
KUWAIT CITY (AP) - London's terror attacks have complicated the monitoring of oil prices ahead of making a decision on raising production, the president of the Organization of Petroleum Exporting Countries said Friday.
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Economists: Britain can absorb attack
Jul 8 2005 1:44PM (CT)
LONDON (AP) - Britain's economy is resilient enough to absorb the shock of a terrorist attack on its transportation system, economists said, a sentiment seen Friday as markets throughout Europe shrugged off much of their losses from a day earlier.
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Old carpet being tapped as energy source
Jul 8 2005 12:54PM (CT)
DALTON, Ga. (AP) - Here in the "Carpet Capital of the World," the vast manufacturing plants that supply almost half the nation's carpet also pump out reams of wasted scraps that eventually wind up in landfills.
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Putin promises Russia will hike oil exports
Jul 8 2005 12:43PM (CT)
GLENEAGLES, Scotland (AP) - Russian President Vladimir Putin promised Friday that his country will increase its oil exports and said energy policy would be a key theme of the Russia's G-8 presidency in 2006.
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Lea Fastow is released from halfway house
Jul 8 2005 12:26PM (CT)
HOUSTON (AP) - The wife of former Enron Corp. finance chief Andrew Fastow was released Friday from a halfway house, ending a year's prison term for failing to declare her husband's illegal kickbacks as income, her attorney said.
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U.S. weekly oil and gas rig count up 24
Jul 8 2005 12:25PM (CT)
HOUSTON (AP) - The number of rigs actively exploring for oil and natural gas in the United States increased by 24 this week to 1,394.
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Volkswagen's Hartz offers to step down
Jul 8 2005 12:22PM (CT)
BERLIN (AP) - Volkswagen AG's personnel chief has submitted his resignation, the company said Friday _ a move that comes amid an investigation of bribery and kickback allegations at Europe's biggest automaker.
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G-8 nations express worries on oil prices
Jul 8 2005 12:19PM (CT)
GLENEAGLES, Scotland (AP) - The Group of Eight industrialized nations said Friday that surging oil prices pose a risk to the world economy.
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German gov't to extend insurance guarantee
Jul 8 2005 12:03PM (CT)
FRANKFURT, Germany (AP) - The German government is extending its guarantee of a national terrorism-coverage insurance pool for two more years, the finance ministry said Friday.
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Mexico says tequila output hits record
Jul 8 2005 11:48AM (CT)
MEXICO CITY (AP) - Production and exports of Mexico's most famous liquor reached record levels in the first half of the year, according to the tequila industry's regulatory council.
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France pushes ahead with power IPO
Jul 8 2005 11:33AM (CT)
PARIS (AP) - Shares of Gaz de France soared Friday as the state-owned utility made its stock market debut, an encouraging sign for the French government as it prepares for the partial privatization of its larger power utility Electricite de France later this year.
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Romanian gov't passes some property laws
Jul 8 2005 10:49AM (CT)
BUCHAREST, Romania (AP) - Romania's government said Friday it has passed emergency legislation to return property confiscated by the former Communist regime.
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WTO chief: global trade talks in trouble
Jul 8 2005 10:29AM (CT)
GENEVA (AP) - The Doha round of negotiations on a new global trade deal are failing to make progress, endangering hopes of reaching a liberalization accord at a December summit in Hong Kong, the head of the World Trade Organization said Friday.
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Iberia orders 30 Airbus passenger planes
Jul 8 2005 8:55AM (CT)
PARIS (AP) - Spain's largest airline, Iberia Lineas Aereas de Espana SA, has ordered 30 Airbus passenger jets from single-aisle A320 family, the European plane maker said Friday.
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Posco says profit soars on steel prices
Jul 8 2005 8:01AM (CT)
SEOUL, South Korea (AP) - Posco, one of the world's biggest steel makers, reported Friday that second-quarter profit rose 38 percent, buoyed by strong prices for steel. But the company trimmed its revenue target for the year in expectations of lower prices.
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Volkswagen's Hartz offers resignation
Jul 8 2005 8:00AM (CT)
BERLIN (AP) - Volkswagen AG's personnel chief has offered his resignation, the company said Friday _ a move that comes amid an investigation of bribery and kickback allegations at the automaker.
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Europe markets open higher after bombings
Jul 8 2005 6:54AM (CT)
LONDON (AP) - Stocks rose in Europe on Friday, a day after a series of terrorist blasts in London's transportation system rattled markets, with insurance and travel-related stocks regaining some of the ground they lost.
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German corporate bankruptcies decline
Jul 8 2005 6:19AM (CT)
BERLIN (AP) - The number of German companies filing for bankruptcy declined by 2.1 percent in April from a year earlier, government figures showed Friday.
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Purcell to get $43.9M in bonus money
Jul 8 2005 5:47AM (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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Japanese stocks fall on machine orders
Jul 8 2005 5:44AM (CT)
TOKYO (AP) - Japanese stocks fell for the fourth straight session Friday as disappointing machinery order data knocked back earlier gains made in the face of terrorist attacks in London. The dollar rose to a new 11-month high against the yen.
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Steelmaker Posco says profit up 38 pct.
Jul 8 2005 3:32AM (CT)
SEOUL, South Korea (AP) - Posco, the world's fifth-biggest steel maker, reported Friday that second-quarter profit rose 38 percent, buoyed by strong prices for steel, but forecast that increasing production from China could hurt prices.
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Beetles, rootworm, mites bug Ill. farmers
Jul 8 2005 1:10AM (CT)
CHAMPAIGN, Ill. (AP) - This summer's drought is bad enough for Illinois farmers, but now beetles, rootworms and mites are bugging them, too.
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