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Computer glitch cause delays for Northwest
Jul 25 2006 11:04PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. said a computer problem that developed Tuesday afternoon resulted in delays and cancellations of some Northwest and Northwest Airlink flights in the United States and Canada.
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Japanese stocks and dollar mixed
Jul 25 2006 10:29PM (CT)
TOKYO (AP) - Japanese stocks were mixed Wednesday morning as investors awaited a string of earnings reports _ including Honda and Matsushita Electric later in the day.
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Amazon.com 2Q earnings fall nearly 58 pct.
Jul 25 2006 9:50PM (CT)
SEATTLE (AP) - Amazon.com Inc. said Tuesday that second-quarter earnings plunged nearly 58 percent as the online retailer focused on giving customers cheap or free shipping deals and investing in new technologies.
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Big companies cash in on fed contracts
Jul 25 2006 9:20PM (CT)
WASHINGTON (AP) - At least $12 billion in contracts the government claimed it gave to small companies last year wound up instead in the coffers of corporate giants like Microsoft and Rolls Royce, greatly inflating the Bush administration's record of help to small businesses, Democratic congressional investigators say.
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Hewlett-Packard to buy Mercury Interactive
Jul 25 2006 9:17PM (CT)
SAN FRANCISCO (AP) - Hewlett Packard Co. is biting off its biggest acquisition in four years with a $4.5 billion purchase of Mercury Interactive Corp., the business management software maker that has been entangled in a stock options scandal. The deal, announced Tuesday by the Palo Alto, Calif.-based computer and printer maker, isn't cheap.
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Sun Microsystems swings to 4Q loss
Jul 25 2006 9:16PM (CT)
SAN JOSE, Calif. (AP) - Server and software maker Sun Microsystems swung to a fiscal fourth-quarter loss as restructuring, acquisition and stock-based compensation costs absorbed revenue that grew 29 percent and exceeded analysts' expectations.
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Judge rejects Skilling's request
Jul 25 2006 9:13PM (CT)
HOUSTON (AP) - A judge on Tuesday summarily rejected a request by former Enron Chief Executive Jeffrey Skilling to overturn his convictions of fraud, conspiracy and other charges for helping perpetuate one of the most notorious corporate frauds in history.
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GM's earnings to spotlight turnaround
Jul 25 2006 9:12PM (CT)
DETROIT (AP) - General Motors Corp. will have a chance to show its turnaround efforts are working when the world's biggest automaker releases its second-quarter financial results Wednesday.
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Altria beats outlook; stock soars
Jul 25 2006 9:10PM (CT)
NEW YORK (AP) - Shares of Altria hit a new 52-week high on Tuesday after the world's biggest cigarette maker reported stronger-than-expected second-quarter earnings and predicted profit would continue to rise as international sales expand.
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Lockheed Martin 2Q earnings up 26 pct.
Jul 25 2006 9:09PM (CT)
WASHINGTON (AP) - Defense contractor Lockheed Martin Corp. said Tuesday its second-quarter earnings jumped 26 percent on higher information technology and satellite sales, beating Wall Street's expectations and prompting the company to boost its outlook for the year.
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Sales of existing homes fall in June
Jul 25 2006 9:08PM (CT)
WASHINGTON (AP) - Sales of existing homes fell in June for the eighth time in the past 10 months while home prices edged up at the slowest pace in more than a decade _ more signs that the housing market has slowed dramatically.
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Philly newspapers team with Monster
Jul 25 2006 8:33PM (CT)
PHILADELPHIA (AP) - The new owner of Philadelphia's two major daily newspapers said Tuesday it has formed an alliance with Monster Worldwide Inc., parent of the popular online jobs Web site that's a fierce rival of print publications' classified ad sections.
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JetBlue, Alaska Air 2Q profits rise
Jul 25 2006 7:14PM (CT)
NEW YORK (AP) - JetBlue Airways Corp. said Tuesday its second-quarter profit rose modestly, beating Wall Street's expectations, and that it is willing to fly more empty seats in exchange for passengers paying higher fares.
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SEC moving to require exec pay details
Jul 25 2006 6:34PM (CT)
WASHINGTON (AP) - Regulators are moving to require companies to disclose more details of executives' pay and perks. They're also writing new rules on disclosure of the dating of stock options as controversy widens over suspect timing.
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Oil prices fall below $74 a barrel
Jul 25 2006 4:42PM (CT)
WASHINGTON (AP) - Oil prices fell by more than $1 a barrel Tuesday in trading influenced by profit-taking, brokers said.
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Luxury goods giant LVMH sales up 13 pct
Jul 25 2006 4:41PM (CT)
PARIS (AP) - Luxury goods company LVMH Moet Hennessy Louis Vuitton SA said Tuesday that revenue rose 13 percent in the first half of 2006, driven by growth across all of its divisions.
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Gold futures rebound after dollar rally
Jul 25 2006 4:36PM (CT)
NEW YORK (AP) - Gold futures settled higher Tuesday at the New York Mercantile Exchange after recovering from a drop-off in price initiated by a rally in the dollar.
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Gold futures rebound after dollar rally
Jul 25 2006 4:36PM (CT)
NEW YORK (AP) - Gold futures settled higher Tuesday at the New York Mercantile Exchange after recovering from a drop-off in price initiated by a rally in the dollar.
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Consumer confidence posts modest rise
Jul 25 2006 4:26PM (CT)
NEW YORK (AP) - A steady job market helped consumers overcome their concerns over high energy costs in July, unexpectedly lifting a barometer of consumer sentiment on Tuesday.
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Consumer confidence posts modest rise
Jul 25 2006 4:26PM (CT)
NEW YORK (AP) - A steady job market helped consumers overcome their concerns over high energy costs in July, unexpectedly lifting a barometer of consumer sentiment on Tuesday.
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Europe helps McDonald's to strong result
Jul 25 2006 3:43PM (CT)
CHICAGO (AP) - McDonald's Corp. posted its strongest quarterly results Tuesday since beginning a recovery more than three years ago, boosted by resurgent European restaurants that contributed to a 57 percent jump in profit.
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UPS warns on outlook as 2Q profit misses
Jul 25 2006 3:34PM (CT)
ATLANTA (AP) - UPS Inc. shares plunged Tuesday by their biggest one-day margin ever after the world's largest shipping carrier reported a second-quarter profit that missed Wall Street expectations and warned its earnings growth for the year will be at the low end of its forecast.
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Bernanke keeps personal finances simple
Jul 25 2006 3:00PM (CT)
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke has a complex job trying to keep the nation's economy on an even keel, but when it comes to his own finances, he keeps it fairly simple.
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Busy airports get cleanliness makeovers
Jul 25 2006 2:53PM (CT)
ATLANTA (AP) - A half year after Christmas, a small pile of crushed candy canes lie discarded at the base of escalators leading to the concourse trains at the airport that sees the most passengers in the world.
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Dollar gains against major currencies
Jul 25 2006 2:39PM (CT)
NEW YORK (AP) - The dollar rose against most major currencies Tuesday after a consumer confidence reading came in slightly above expectations.
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Cox plans to push for new hedge fund rules
Jul 25 2006 2:27PM (CT)
WASHINGTON (AP) - With fraud among hedge funds on the rise and ordinary investors getting hurt, the chairman of the Securities and Exchange Commission said Tuesday he will push for new emergency regulations of the high-risk investment pools.
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BP PLC reports net profit of $7.3B
Jul 25 2006 12:48PM (CT)
LONDON (AP) - Oil company BP PLC said Tuesday net profit rose 30 percent in the second quarter, as soaring world oil prices counterbalanced lower oil and gas output. Chief Executive John Browne also announced that he would step down at the end of 2008.
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Fiat and Tata announce joint venture
Jul 25 2006 10:14AM (CT)
ROME (AP) - Italian carmaker Fiat Group SpA and India's Tata Motors Ltd. announced Tuesday that they have signed an agreement for a joint venture in India to make passenger vehicles, engines and transmissions for Indian and overseas markets.
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AT&T quarterly profit jumps 81 percent
Jul 25 2006 9:34AM (CT)
DALLAS (AP) - AT&T Inc., one of the nation's largest telecommunications companies, said Tuesday its profit climbed 81 percent in the second quarter, citing progress in integrating the operations of the former AT&T with SBC Communications and increased contributions from its Cingular Wireless joint venture.
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DuPont's 2Q profit dips on energy costs
Jul 25 2006 8:19AM (CT)
WILMINGTON, Del. (AP) - Chemical maker DuPont Co. said Tuesday its second-quarter profit declined 4 percent on higher energy costs and lower revenue.
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3M 2Q earnings rise 17 percent
Jul 25 2006 7:28AM (CT)
MINNEAPOLIS (AP) - 3M Co., which makes products ranging from Scotch tape to furnace filters, said on Tuesday that its second-quarter profit rose 17 percent, but that was at the low end of its forecast made less than three weeks ago.
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JetBlue Airways 2Q profit edges up
Jul 25 2006 7:27AM (CT)
NEW YORK (AP) - JetBlue Airways Corp. said Tuesday its second-quarter profit grew modestly, as revenue jumped 42 percent but expenses surged at the same time due to rising fuel costs.
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Japanese ad man busted for insider trade
Jul 25 2006 7:06AM (CT)
TOKYO (AP) - Prosecutors arrested an employee of Japan's largest daily business newspaper Tuesday over alleged insider trading, officials said.
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Texas Instruments profit, sales rise
Jul 25 2006 6:45AM (CT)
DALLAS (AP) - Texas Instruments Inc. reported a solid quarter of earnings and sales and affirmed its guidance for the coming quarter on strong sales of chips for mobile phones and electronic gadgets.
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Colgate-Palmolive 2Q profit dips 17 pct.
Jul 25 2006 6:41AM (CT)
NEW YORK (AP) - Colgate-Palmolive Co., a maker of toothpaste, soaps and pet food, said Tuesday its second-quarter profit slid 17 percent, as restructuring charges outweighed sales growth.
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Whirlpool 2Q profit dips, beats outlook
Jul 25 2006 6:39AM (CT)
BENTON HARBOR, Mich. (AP) - Whirlpool Corp., the nation's top appliance maker, said Tuesday that second-quarter earnings slipped because of the drag of discontinued operations but sales rose 33 percent, reflecting the acquisition of Maytag Corp. and strong consumer demand.
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Japan to OK U.S. beef import resumption
Jul 25 2006 5:09AM (CT)
TOKYO (AP) - Japan is preparing to approve a resumption of imports of U.S. beef this week, officials said Tuesday, despite a report that Japanese inspectors found problems at some U.S. meat processing plants.
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South Korea's economic growth slows in 2Q
Jul 25 2006 5:08AM (CT)
SEOUL, South Korea (AP) - South Korea's economic growth slowed in the second quarter on weakness in the construction sector, the central bank said Tuesday, showing that steps to cool the nation's surging property market are taking effect.
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Nissan quarterly profit rises 4.2 percent
Jul 25 2006 5:07AM (CT)
TOKYO (AP) - Nissan Motor Co. said Tuesday its net profit rose 4.2 percent in the most recent quarter on improved sales and a lack of one-time charges that hurt earnings the previous year.
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Venture investments at highest in 4 years
Jul 25 2006 12:07AM (CT)
SAN FRANCISCO (AP) - Increasingly optimistic venture capitalists invested $6.35 billion in startups during the second quarter, marking the biggest burst of dealmaking in more than four years.
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