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Alcoa 2Q profit jumps 62 percent to $744M
Jul 10 2006 10:21PM (CT)
PITTSBURGH (AP) - Aluminum producer Alcoa Inc. on Monday said second-quarter profit ballooned 62 percent as higher aluminum prices and strong demand from the aerospace and construction industries boosted results.
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Katrina insurance trial begins in Miss.
Jul 10 2006 7:27PM (CT)
GULFPORT, Miss. (AP) - A federal judge on Monday began hearing a groundbreaking trial that could signal whether thousands of people whose homes were destroyed by Hurricane Katrina can receive payouts for losses their insurance companies claim were caused by flooding.
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Lucent to miss revenue, income estimates
Jul 10 2006 7:26PM (CT)
MURRAY HILL, N.J. (AP) - Lucent Technologies Inc. said Monday that its income and revenue for the quarter ended in June will be lower than analysts expected as the telecom gear maker was hurt by weak sales in the U.S. and China.
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China trade surplus hits $14.5B in June
Jul 10 2006 6:30PM (CT)
SHANGHAI, China (AP) - China's global trade surplus rose to a record monthly high of $14.5 billion in June, the Commerce Ministry reported Monday, raising the likelihood of more tension over Beijing's currency controls.
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Euro economies grow faster than expected
Jul 10 2006 6:19PM (CT)
BRUSSELS, Belgium (AP) - The 12 economies that use the euro are expanding faster than previous forecasts, but not all are taking heed of the EU's warning of making hay while the sun shines, EU Economic and Monetary Affairs Commissioner Joaquin Almunia said Monday.
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Treasurys hold on to Friday gains
Jul 10 2006 4:45PM (CT)
NEW YORK (AP) - Treasury prices were flat to slightly higher Monday, holding on to the strong gains registered Friday after a tepid U.S. non-farm payrolls report.
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Treasurys hold on to Friday gains
Jul 10 2006 4:45PM (CT)
NEW YORK (AP) - Treasury prices were flat to slightly higher Monday, holding on to the strong gains registered Friday after a tepid U.S. non-farm payrolls report.
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Gold down on crude-oil price fall
Jul 10 2006 4:26PM (CT)
NEW YORK (AP) - A drop in crude oil prices, a rising U.S. dollar and a round of profit-taking after last week's rally weighed on gold futures Monday.
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Gold down on crude-oil price fall
Jul 10 2006 4:26PM (CT)
NEW YORK (AP) - A drop in crude oil prices, a rising U.S. dollar and a round of profit-taking after last week's rally weighed on gold futures Monday.
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EU regulators prepare to fine Microsoft
Jul 10 2006 4:24PM (CT)
BRUSSELS, Belgium (AP) - The European Union's battle against Microsoft Corp. is heating up as regulators prepare to fine the company for flouting a 2004 antitrust ruling that said it deliberately tried to cripple rivals.
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Mortgage giants avert potential disaster
Jul 10 2006 4:20PM (CT)
WASHINGTON (AP) - A potential financial disaster that could have shaken the housing market was averted because regulators discovered accounting failures at Fannie Mae and Freddie Mac, the new head of the agency that oversees the mortgage giants said Monday.
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WPS Resources agrees to buy Peoples Energy
Jul 10 2006 4:18PM (CT)
CHICAGO (AP) - WPS Resources Corp. moved to expand its growing stable of gas and electric utilities across the upper Midwest on Monday, announcing it has agreed to buy Peoples Energy Corp. for stock worth about $1.52 billion in a deal giving it 1 million new customers in northeastern Illinois.
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Revlon forecasts wider loss for 2nd qtr.
Jul 10 2006 3:36PM (CT)
NEW YORK (AP) - Cosmetics maker Revlon Inc. on Monday forecast a wider loss for the second quarter, hurt in part by a $40 million shortfall from its poor performing Vital Radiance makeup line aimed at women 50 and older.
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Interest rates on Treasury bills mixed
Jul 10 2006 3:27PM (CT)
WASHINGTON (AP) - Interest rates on short-term Treasury bills were mixed in Monday's auction, with rates on three-month bills declining while rates on six-month bills rose.
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Dollar rises against major currencies
Jul 10 2006 2:49PM (CT)
NEW YORK (AP) - The dollar rose against most major currencies Monday, after falling last week amid lackluster U.S. economic data and on expectations of higher European interest rates.
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Dollar rises against major currencies
Jul 10 2006 2:49PM (CT)
NEW YORK (AP) - The dollar rose against most major currencies Monday, after falling last week amid lackluster U.S. economic data and on expectations of higher European interest rates.
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Oil prices settle below $74 a barrel
Jul 10 2006 2:42PM (CT)
WASHINGTON (AP) - A sell-off in gasoline futures spilled over into crude oil, which fell below $74 a barrel on Monday, but analysts said the underlying pressures that recently drove prices higher _ strong demand and geopolitical uncertainty _ remain.
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Fed: Growth in consumer borrowing slows
Jul 10 2006 2:04PM (CT)
WASHINGTON (AP) - Americans increased their borrowing at a 2.4 percent annual rate in May, significantly slower than in April, as a big jump in credit card borrowing was not enough to offset a slowdown in the growth of auto loans, the Federal Reserve reported Monday.
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Teen stars turn into fashion brands
Jul 10 2006 1:26PM (CT)
NEW YORK (AP) - Starting this fall, Mary-Kate and Ashley Olsen _ the twin actresses-turned merchandising moguls _ will have some young celebrity company in store aisles.
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Foot Locker shares leap on buyout report
Jul 10 2006 12:48PM (CT)
NEW YORK (AP) - Foot Locker Inc. shares jumped more than 10 percent on Monday, lifted by a report that private equity heavyweight Kohlberg Kravis Roberts & Co. is the front-runner to acquire the athletic shoe chain.
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Russia takes center stage as G-8 host
Jul 10 2006 11:46AM (CT)
MOSCOW (AP) - Russia will take center stage this week when President Vladimir Putin hosts President Bush and other leaders of the world's biggest economies, reveling in resurgent global influence while facing the fiercest Western criticism since the Soviet collapse.
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Qualcomm says ITC to launch Nokia probe
Jul 10 2006 10:43AM (CT)
SAN DIEGO (AP) - Wireless technology company Qualcomm Inc. said Monday the United States International Trade Commission has launched an investigation into whether Finland-based Nokia Corp. and its U.S. unit Nokia Inc. engaged in unfair trade practices and infringed upon six Qualcomm patents.
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Kimco to acquire Pan Pacific
Jul 10 2006 9:58AM (CT)
NEW YORK (AP) - Kimco Realty Corp., a real estate investment trust focused on shopping centers, on Monday said it plans to acquire Pan Pacific Retail Properties Inc. for $2.9 billion in cash and stock.
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Kraft to buy United Biscuits units
Jul 10 2006 9:39AM (CT)
NORTHFIELD, Ill. (AP) - Kraft Foods Inc., the No. 1 U.S. food company, said Monday it will pay about $1.07 billion to acquire the Spanish and Portuguese units of United Biscuits and reclaim the rights to Nabisco trademarks in the European Union, Eastern Europe, the Middle East and Africa.
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Russia takes center stage as G-8 host
Jul 10 2006 8:39AM (CT)
MOSCOW (AP) - Russia will take center stage this week when President Vladimir Putin hosts President Bush and other leaders of the world's biggest economies, reveling in resurgent global influence while facing the fiercest Western criticism since the Soviet collapse.
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Airbus Gets Fewer Orders Than Boeing
Jul 10 2006 7:59AM (CT)
PARIS (AP) - Airbus said Monday it won 117 plane orders in the first half of the year, less than a quarter of the orders announced to date by U.S. rival Boeing Co.
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Oil prices fall below $74 a barrel
Jul 10 2006 7:37AM (CT)
LONDON (AP) - Crude oil fell Monday as traders gleaned profit from recent increases and worries about Iran eased, but analysts said the pressures driving higher prices remained in force.
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Wheat harvest could boost flour prices
Jul 10 2006 6:35AM (CT)
WICHITA, Kan. (AP) - A paltry winter wheat harvest in the nation's breadbasket has driven up the cost of flour for consumers, with more price hikes feared as drought takes a growing toll on the nation's spring wheat crop as well.
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Short wheat harvest may raise flour prices
Jul 10 2006 2:58AM (CT)
WICHITA, Kan. (AP) - A paltry winter wheat harvest in the nation's breadbasket has driven up the cost of flour for consumers, with more price hikes feared as drought takes a growing toll on the nation's spring wheat crop as well.
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Report: Official urges trust in Japan bank
Jul 10 2006 2:20AM (CT)
TOKYO (AP) - A senior ruling party official said Japan should trust its central bank with the decision on when to raise interest rates, a report said Monday, ahead of this week's expected move to boost rates long frozen at zero.
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U.S., South Korea open free trade talks
Jul 10 2006 2:18AM (CT)
SEOUL, South Korea (AP) - Top U.S. and South Korean negotiators acknowledged challenges Monday in concluding an ambitious free trade agreement but expressed confidence they can hammer out an accord.
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Private memorial held for Enron founder
Jul 10 2006 12:27AM (CT)
ASPEN, Colo. (AP) - Former Enron Corp. CEO Jeffrey Skilling was among scores of people Sunday at a private memorial for company founder Kenneth Lay, who died in this mountain resort town last week as he awaited sentencing for his role in one of the nation's biggest corporate frauds.
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