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Zetsche rises to DaimlerChrysler CEO post
Jul 28 2005 11:35PM (CT)
DETROIT (AP) - Dieter Zetsche engineered a turnaround at Chrysler with a laser-like focus on creating new products and reducing costs. When he takes control of parent DaimlerChrysler AG later this year, he'll surely keep those strategies in place as he deals with challenges such as weak earnings at Mercedes-Benz and limited growth in Asia, analysts say.
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Newell Rubbermaid to buy Dymo for $730M
Jul 28 2005 11:21PM (CT)
ATLANTA (AP) - Newell Rubbermaid Inc. agreed Thursday to acquire Dymo, the labeling product unit of Esselt Group Holdings AB for $730 million in cash.
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Kia Motors says 2Q profit down 27 percent
Jul 28 2005 11:19PM (CT)
SEOUL, South Korea (AP) - Kia Motors Corp. said Friday its second-quarter net profit fell 27 percent from a year earlier and operating profit plunged because of higher costs of raw materials and a stronger South Korean currency.
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Refinery fires send crude prices past $60
Jul 28 2005 11:11PM (CT)
SINGAPORE (AP) - Back-to-back refinery fires in Texas and Louisiana sent crude futures soaring past $60 a barrel Friday as the unplanned outages re-ignite supply fears that production may not be able to match demand in the peaking months ahead.
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Japanese stocks rise on jobless data
Jul 28 2005 10:03PM (CT)
TOKYO (AP) - Japanese stocks rose Friday morning as investors welcomed government data showing the country's jobless rate fell to a seven-year low in June. The dollar slipped against the yen and euro.
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Nonprofits adopting a for-profit model
Jul 28 2005 9:11PM (CT)
NEW YORK (AP) - Dan Cardinali is running his nonprofit organization like a business. Communities In Schools, a national dropout prevention program, went through a painful process last year similar to a corporate reorganization that included program cuts and layoffs.
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Japan unemployment rate falls in June
Jul 28 2005 8:44PM (CT)
TOKYO (AP) - Japan's jobless rate fell to 4.2 percent in June, its lowest level in seven years, the government said Friday, indicating that the labor market is continuing to improve.
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Chevron 2Q report could sway Unocal bid
Jul 28 2005 7:49PM (CT)
SAN FRANCISCO (AP) - The stakes will be higher than usual Friday morning when Chevron Corp. discloses its second-quarter earnings _ the results could deliver a pivotal blow in the company's politically charged battle to buy Unocal Corp.
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Judge OKs pathologist's Vioxx testimony
Jul 28 2005 7:38PM (CT)
ANGLETON, Texas (AP) - A pathologist who autopsied a Texas man at the center of the nation's first Vioxx-related civil trial can testify for jurors, the judge in the case ruled Thursday.
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Sappi to cut 365 jobs at Michigan plant
Jul 28 2005 6:20PM (CT)
MUSKEGON, Mich. (AP) - Sappi Fine Paper North America says it is restructuring its Muskegon operations in a move that will eliminate 365 jobs, or 62 percent of its 585 employees.
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Agency: Honda posts highest fuel economy
Jul 28 2005 6:04PM (CT)
WASHINGTON (AP) - Honda Motor Co. posted the highest average fuel economy for 2005 vehicles, but automakers made little progress in making automobiles more fuel-efficient, the government reported Thursday.
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Judge OKs Fla. co. bid for armor assets
Jul 28 2005 5:43PM (CT)
GRAND RAPIDS, Mich. (AP) - A federal bankruptcy judge has approved a Florida company's $45 million bid for the assets of Second Chance Body Armor Inc., the target of lawsuits accusing it of making defective bullet-resistant police vests.
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MetLife posts $2.2 billion in 2Q earnings
Jul 28 2005 5:34PM (CT)
NEW YORK (AP) - MetLife Inc., one of the nation's biggest insurance companies, said Thursday its second-quarter profit more than doubled, driven by strong gains across its business lines. Its shares soared more than 5 percent in late trading, after the results were released.
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Dow Chemical posts $1.27B in 2Q earnings
Jul 28 2005 5:23PM (CT)
GRAND RAPIDS, Mich. (AP) - Dow Chemical Co. reported its second-most profitable quarter ever on Thursday, saying higher sales and cost-management refinements helped the nation's largest chemical company nearly double its second-quarter earnings.
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Survey: Credit card penalty rates on rise
Jul 28 2005 5:17PM (CT)
NEW YORK (AP) - If you mess up your credit card payments, it's going to cost you a lot of money, according to a survey released Thursday by the consumer advocacy group Consumer Action.
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Valeo to close N.Y. plant by 2008
Jul 28 2005 5:14PM (CT)
ROCHESTER, N.Y. (AP) - French auto parts maker Valeo SA is closing a windshield-wiper plant that employs about 500 people in Rochester, a city rattled last week by the prospect of thousands of manufacturing job cuts at photography icon Eastman Kodak Co.
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Winn-Dixie sells prescription records
Jul 28 2005 5:14PM (CT)
JACKSONVILLE, Fla. (AP) - Bankrupt Winn-Dixie Stores Inc. is selling pharmacies the records of thousands of customers who bought prescription drugs at 139 supermarkets it's closing.
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Impatience up on stalled WTO trade talks
Jul 28 2005 5:11PM (CT)
GENEVA (AP) - Senior officials voiced frustration Thursday with the lack of progress in the Doha round of global trade negotiations, after WTO members missed a crucial deadline for a framework deal.
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Vilar pleads not guilty to new charges
Jul 28 2005 5:08PM (CT)
NEW YORK (AP) - Philanthropist Alberto Vilar pleaded not guilty Thursday to new charges of conspiracy and wire fraud in an alleged $5 million scam against an investor.
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Starbucks reports $125.6M in 3Q earnings
Jul 28 2005 4:50PM (CT)
SEATTLE (AP) - Shares of Starbucks Corp. rose nearly 5 percent Thursday, after the specialty coffee retailer said its fiscal third-quarter profit rose nearly 30 percent and it announced plans to open 1,800 new stores in the coming year.
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Yellow Roadway 2Q profit soars 62 percent
Jul 28 2005 4:49PM (CT)
OVERLAND PARK, Kan. (AP) - Trucking and logistics company Yellow Roadway Corp. on Thursday said second-quarter profit surged 62 percent on higher revenue from each of its business units.
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McKesson $171M quarterly profit tops views
Jul 28 2005 4:47PM (CT)
SAN FRANCISCO (AP) - McKesson Corp.'s quarterly profit surpassed analysts' expectations as the nation's largest distributor of prescription drugs continued its rehabilitation from a damaging financial scandal.
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Money funds fall by $1.15B to $808.28B
Jul 28 2005 4:40PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds fell by $1.15 billion in the latest week to $808.28 billion, the Investment Company Institute said Thursday.
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Georgia-Pacific reports 2Q earnings drop
Jul 28 2005 4:39PM (CT)
ATLANTA (AP) - Paper and tissue manufacturer Georgia-Pacific Corp. cited higher raw materials and energy costs as it reported a more than 11 percent drop in second-quarter profit on a decline in revenue.
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XM Satellite Radio Holdings posts 2Q loss
Jul 28 2005 4:37PM (CT)
WASHINGTON (AP) - XM Satellite Radio Holdings Inc., the larger of two companies in the emerging satellite radio field, reported a smaller loss for its second quarter Thursday and a 55 percent increase in subscribers.
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Newell Rubbermaid reports 2Q profit jump
Jul 28 2005 4:36PM (CT)
ATLANTA (AP) - Newell Rubbermaid Inc., the maker of Sharpie pens and Rubbermaid trash cans, reported a more than 8 percent jump in second-quarter profit despite a slight drop in revenue. Its shares rose more than 8 percent.
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Waste Management 2Q profit rises to $527M
Jul 28 2005 4:34PM (CT)
HOUSTON (AP) - Waste Management Inc., the nation's largest trash hauler, said Thursday that second-quarter profit more than doubled on one-time gains, but warned that earnings for the full year may fall at the low end of guidance. Its shares fell.
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Cinergy 2Q earnings decline 13 percent
Jul 28 2005 4:31PM (CT)
CINCINNATI (AP) - Power generation company Cinergy Corp. said Thursday that its second-quarter profit fell 13 percent, and came in below Wall Street expectations, on one-time charges and weakness in its commercial gas operations.
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UAL posts $1.43B loss in second quarter
Jul 28 2005 4:28PM (CT)
CHICAGO (AP) - United Airlines' parent corporation said Thursday it lost $1.43 billion during the second quarter, nearly all of which was related to its ongoing effort to exit bankruptcy this fall.
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Schrempp to resign as DaimlerChrysler CEO
Jul 28 2005 4:26PM (CT)
FRANKFURT, Germany (AP) - DaimlerChrysler CEO Juergen Schrempp, the onetime apprentice mechanic who engineered the controversial marriage of Daimler-Benz to Chrysler, announced Thursday that he will step down at the end of the year.
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Wendy's 2Q earnings fall on higher costs
Jul 28 2005 4:25PM (CT)
DUBLIN, Ohio (AP) - Wendy's International Inc.'s earnings dropped 1 percent in the second quarter but beat Wall Street's expectations for a period in which the third-largest hamburger chain's sales were hurt by false accusations that a woman found a finger in her chili.
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Thursday's commodities roundup
Jul 28 2005 4:24PM (CT)
NEW YORK (AP) - Crude-oil futures settled up nearly a dollar Thursday, as a refinery fire in Louisiana rekindled supply fears that sent prices above $60 a barrel for the first time in more two weeks.
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MGM Mirage 2Q earnings climb 35 percent
Jul 28 2005 4:10PM (CT)
LAS VEGAS (AP) - MGM Mirage Inc., the world's second-largest casino operator, said Thursday quarterly profit climbed 35 percent, boosted by the recent acquisition of Mandalay Resort Group. Its shares rose nearly 5 percent, hitting an all-time high.
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Janus 2Q net income tumbles 80 percent
Jul 28 2005 3:58PM (CT)
DENVER (AP) - Janus Capital Group Inc. said Thursday its second-quarter net income dropped nearly 80 percent, largely because of a gain in the year-earlier quarter resulting from the sale of the money manager's stake in DST Systems.
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Defense contractors raise 2005 forecasts
Jul 28 2005 3:55PM (CT)
BOSTON (AP) - Rising research and development spending by the U.S. military helped defense contractors Northrop Grumman Corp. and Raytheon Co. post second-quarter profits Thursday that beat Wall Street expectations. Both companies also raised their outlooks for the full year.
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High energy prices boost 3 oil companies
Jul 28 2005 3:48PM (CT)
DALLAS (AP) - Two of the world's largest oil companies, Exxon Mobil Corp. and Royal Dutch Shell PLC, said Thursday that second-quarter profits rose by about one-third, buoyed by high energy prices and higher worldwide consumption. The companies improved their earnings despite rising costs and lower output of oil and natural gas.
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Federated to drop nameplates, sell stores
Jul 28 2005 3:45PM (CT)
CINCINNATI (AP) - Macy's will replace locally familiar names including Filene's in New England and Famous-Barr in the Midwest in some 330 stores across the nation under post-merger plans announced Thursday by Federated Department Stores Inc.
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Aetna 2nd-quarter earnings up 43 percent
Jul 28 2005 3:42PM (CT)
HARTFORD, Conn. (AP) - Aetna Inc., one of the nation's largest health insurers, said Thursday that second-quarter earnings rose 43 percent, due to higher membership levels, strong underwriting results and continued cost controls. Its shares rose more than 5 percent.
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3 drug cos. post 2nd-quarter profit gains
Jul 28 2005 3:38PM (CT)
NEW YORK (AP) - Bristol-Myers Squibb Co.'s profit soared 91 percent in the second quarter helped by a one-time tax benefit, while sales growth helped push up earnings at rival drugmakers AstraZeneca PLC by 50 percent and GlaxoSmithKline PLC by 7 percent.
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Mortgage rates rise for 4th straight week
Jul 28 2005 2:21PM (CT)
WASHINGTON (AP) - Mortgage rates rose for a fourth consecutive week as financial markets responded to fresh evidence that the economy is picking up momentum.
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Walgreen agrees to pay $1.3M settlement
Jul 28 2005 2:11PM (CT)
OKLAHOMA CITY (AP) - Walgreen Co. has agreed to pay $1.3 million to settle claims it broke state and federal laws by failing to monitor sales of over-the-counter cold medicine that can be used to make methamphetamine, authorities said Thursday.
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Swiss-Swedish ABB's 2Q net profit rises
Jul 28 2005 1:10PM (CT)
ZURICH, Switzerland (AP) - Swiss-Swedish engineering firm ABB said Thursday its second-quarter net profit rose 42 percent despite litigation costs and the restructuring of its transformer activities.
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Senate panel approves 3 SEC nominations
Jul 28 2005 1:01PM (CT)
WASHINGTON (AP) - The Senate Banking Committee on Thursday approved President Bush's nomination of Rep. Christopher Cox to be the new chairman of the Securities and Exchange Commission.
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Exxon Mobil 2Q profit up on oil prices
Jul 28 2005 12:53PM (CT)
IRVING, Texas (AP) - Exxon Mobil Corp., the world's largest publicly traded oil company, reported a 32 percent increase in second-quarter profits as it reaped the benefits of soaring oil and natural gas prices.
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Delta schedule trims aircraft downtime
Jul 28 2005 12:36PM (CT)
ATLANTA (AP) - Delta Air Lines Inc., the nation's third-largest carrier, announced several changes to its fall schedule on Thursday, highlighting the company's attempts to have more of its flights arrive and depart on time.
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Alan Greenspan sticks to safe investments
Jul 28 2005 12:25PM (CT)
WASHINGTON (AP) - Federal Reserve Chairman Alan Greenspan, who boldly goes where few others go in the economic-policy universe, plays it safe when it comes to his own investments.
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Morgan Stanley to cut 1,000 brokerage jobs
Jul 28 2005 12:19PM (CT)
NEW YORK (AP) - Morgan Stanley, which has been struggling to increase the size and productivity of its broker force, plans to eliminate about 10 percent of its brokers.
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Judge OKs WorldCom investor settlements
Jul 28 2005 12:13PM (CT)
NEW YORK (AP) - A judge gave her blessing Thursday to a deal under which former WorldCom finance chief Scott Sullivan will forfeit his ornate Florida mansion and his retirement account to settle with investors who lost billions when the telecom company was toppled by a fraud scandal.
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British American Tobacco earnings climb
Jul 28 2005 12:03PM (CT)
LONDON (AP) - British American Tobacco PLC posted a 37 percent increase in quarterly earnings Thursday, driven by profit growth in most regions and cost-cutting measures that included shutting factories and selling brands to a rival.
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Coca-Cola Enterprises 2Q profit surges
Jul 28 2005 11:58AM (CT)
ATLANTA (AP) - Coca-Cola Enterprises Inc., the No. 1 bottler of Coca-Cola drinks, said Thursday that second-quarter profit swelled 64 percent on higher sales and gains from a legal settlement and lower tax rate.
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Royal Dutch Shell 2Q profit up 34 percent
Jul 28 2005 11:56AM (CT)
THE HAGUE, Netherlands (AP) - The newly merged Royal Dutch Shell PLC said Thursday its second-quarter in second-quarter increased 34 percent to $5.24 billion, buoyed mainly by high oil prices.
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London shares rise
Jul 28 2005 11:39AM (CT)
LONDON (AP) - Shares rose Thursday on the London Stock Exchange.
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GlaxoSmithKline profit up on sales growth
Jul 28 2005 11:21AM (CT)
LONDON (AP) - Pharmaceutical company GlaxoSmithKline PLC said Thursday strong sales growth of its drugs across all regions underpinned a 7 percent rise in quarterly profit, even as production problems temporarily halted the manufacture of two key medications.
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FAA chooses Chicago plan on O'Hare airport
Jul 28 2005 11:09AM (CT)
CHICAGO (AP) - The Federal Aviation Administration said in a report released Thursday it prefers the city's plan to expand O'Hare International Airport over other proposals to reduce congestion at one of the nation's largest airports.
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Reports: NBC Universal in DreamWorks talks
Jul 28 2005 10:55AM (CT)
LOS ANGELES (AP) - NBC Universal is in talks to buy the privately held live-action film studio DreamWorks SKG, according to news reports Thursday.
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Bristol-Myers' net income up on tax issues
Jul 28 2005 10:48AM (CT)
NEW YORK (AP) - Pharmaceutical company Bristol-Myers Squibb said Thursday second-quarter net income soared 91 percent because of a lower tax rate. Sales grew by 1.5 percent, and earnings excluding certain items beat Wall Street estimates by a wide margin.
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AstraZeneca posts profit rise, CEO retiring
Jul 28 2005 10:18AM (CT)
LONDON (AP) - Anglo-Swedish drugs maker AstraZeneca PLC reported a 50 percent increase in second-quarter net profit on Thursday and said Chief Executive Tom McKillop will retire at the start of next year.
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Arcelor posts record profit in 2Q
Jul 28 2005 10:17AM (CT)
BRUSSELS, Belgium (AP) - Steel giant Arcelor SA reported a record profit for the second quarter on Thursday, benefiting from higher global prices despite weak European demand.
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Fiat swings to profit in second quarter
Jul 28 2005 10:14AM (CT)
MILAN, Italy (AP) - Fiat SpA said Thursday it swung to a net profit in the second quarter in part through the sale of assets in Poland and because of sharply reduced losses at its closely watched automotive unit.
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Raytheon posts $201M quarterly gain
Jul 28 2005 9:55AM (CT)
BOSTON (AP) - Raytheon Co. beat Wall Street expectations on Thursday, reporting a second-quarter profit of $201 million, compared with the $108 million loss the defense contractor reported a year ago.
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Orange helps France Telecom lift profit
Jul 28 2005 9:25AM (CT)
PARIS (AP) - France Telecom SA said Thursday it more than tripled its net profit in the first half, thanks to growth from mobile division Orange and asset sales.
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BT Group quarterly profits rise 24 percent
Jul 28 2005 9:21AM (CT)
LONDON (AP) - BT Group PLC said its profit in the April-June quarter rose by 24 percent, boosted by strong demand for its "new wave" services such as high-speed Internet connections.
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CryoLife agrees to $23 million settlement
Jul 28 2005 9:17AM (CT)
KENNESAW, Ga. (AP) - Human tissue supplier CryoLife Inc. said Thursday it has agreed to settle a shareholder lawsuit for more than $23 million that accused the company of not disclosing enough information to investors before a 2002 government tissue recall.
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Alcatel doubles second-quarter profit
Jul 28 2005 9:10AM (CT)
PARIS (AP) - French telecommunications equipment maker Alcatel SA said Thursday its second-quarter earnings more than doubled, boosted by growth at its wireless division. The company raised its full year earnings target.
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PPR revenue up 4 percent in second quarter
Jul 28 2005 9:01AM (CT)
PARIS (AP) - French luxury and retail group PPR SA reported a 4 percent rise in second-quarter revenue Thursday as morose French consumer spending dragged on growth at its Gucci Group luxury goods division.
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Telefonica net profit climbs 16.4 percent
Jul 28 2005 8:58AM (CT)
MADRID, Spain (AP) - Spanish telecom giant Telefonica SA reported a 16.4 percent increase in second-quarter profit on Thursday, boosted by the contribution from its mobile unit and solid growth in high-speed Internet access in Spain.
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ArvinMeritor posts lower 3Q earnings
Jul 28 2005 8:36AM (CT)
TROY, Mich. (AP) - Auto-parts supplier ArvinMeritor Inc. on Thursday said its third-quarter profit slipped 10 percent, rattled by higher steel costs and restructuring expenses that offset improved sales.
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Sony slumps to loss, slashes profit outlook
Jul 28 2005 8:28AM (CT)
TOKYO (AP) - Sony Corp. announced its second quarterly loss in a row Thursday and slashed its profit outlook, highlighting the challenges Sony's new chairman faces as he tries to revive the company's faltering consumer electronics business.
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Fujitsu returns to profit in quarter
Jul 28 2005 8:20AM (CT)
TOKYO (AP) - Japanese electronics maker Fujitsu Ltd. returned to profit in the April-June quarter of its fiscal year on an increase in sales led by hard disk drives, mobile phones and next generation mobile phone base station equipment.
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Toshiba slumps to loss on falling sales
Jul 28 2005 8:13AM (CT)
TOKYO (AP) - Japanese electronics maker Toshiba Corp. reported Thursday a loss in the April-June quarter amid declining sales of flat screen displays and falling prices for computer chips.
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Vivendi revenue rises in first half
Jul 28 2005 7:55AM (CT)
PARIS (AP) - Vivendi Universal SA, a French media and telecommunications conglomerate, reported higher first-half revenues Thursday on strength in its mobile phone and electronic games divisions.
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Pernod-Ricard revenue rises in first half
Jul 28 2005 7:44AM (CT)
PARIS (AP) - Pernod Ricard SA, which this week completed its takeover of British rival Allied Domecq PLC, on Thursday reported an 8 percent rise in first-half revenue at its core wines and spirits division, with growth from all regions except France.
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Northrop Grumman 2Q profit jumps on sales
Jul 28 2005 7:35AM (CT)
LOS ANGELES (AP) - Northrop Grumman Corp., one of the world's largest defense contractors, said Thursday its second-quarter profit jumped 23 percent, beating Wall Street estimates, as sales rose 7 percent.
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Siemens profit drops on losses in unit
Jul 28 2005 7:24AM (CT)
FRANKFURT, Germany (AP) - Siemens AG said Thursday its third-quarter profit dropped 52 percent because of losses in the mobile phone unit it is selling to Taiwan's BenQ.
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SF Chronicle workers ratify new labor pact
Jul 28 2005 7:24AM (CT)
SAN FRANCISCO (AP) - Workers at the San Francisco Chronicle voted Wednesday night to approve a new contract with the Hearst Corp. that union leaders concede will be "terrible" for many workers.
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Toyota, Nissan auto production falls
Jul 28 2005 7:18AM (CT)
TOKYO (AP) - Leading Japanese automakers Toyota and Nissan said Thursday their domestic production edged down in June as they boosted output at overseas plants to meet growing demand for exports.
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AFL-CIO chief re-elected as 2 unions exit
Jul 28 2005 6:54AM (CT)
CHICAGO (AP) - The delegates who re-elected AFL-CIO President John Sweeney to a fourth term wore T-shirts that said "One Strong Voice for Worker's Rights" _ but the labor group's unity remained in doubt after the defection of two key unions.
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Germany's unemployment rate rises in July
Jul 28 2005 6:35AM (CT)
BERLIN (AP) - Germany's unemployment rate crept up to 11.5 percent in July from 11.3 percent the month before because of people leaving school and a slowdown in hiring during the summer vacation season, government figures showed Thursday.
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Sony leads string of gloomy earnings
Jul 28 2005 6:30AM (CT)
TOKYO (AP) - Money-losing Sony Corp. led a dismal day of earnings for Japanese electronics companies Thursday as the entertainment and consumer products company slashed its full-year profit forecast by nearly 90 percent and reported a second-straight quarter of losses.
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Wal-Mart opens joint venture store
Jul 28 2005 6:26AM (CT)
BEIJING (AP) - Wal-Mart Stores Inc., the world's biggest retailer, opened a new store in China's biggest city, Shanghai, on Thursday as part of a plan to double its presence in China.
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Deutsche Bank beats expectations, profit up
Jul 28 2005 5:47AM (CT)
FRANKFURT, Germany (AP) - Deutsche Bank AG said second-quarter profit rose 44 percent, beating analyst estimates for a fourth consecutive quarter, on strength in its corporate and investment banking activities.
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Siemens posts 52 percent drop in profit
Jul 28 2005 5:32AM (CT)
FRANKFURT, Germany (AP) - Siemens AG posted a 52 percent drop in third-quarter net profit on Thursday because of losses in the mobile phone unit it is selling to Taiwan's BenQ.
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Nomura's profit falls 80 percent in 2Q
Jul 28 2005 4:54AM (CT)
TOKYO (AP) - Nomura Holdings Inc., Japan's top securities house, said Thursday profit tumbled 80 percent in the April-June quarter as it was hit by poor global market operations, particularly in corporate bond trading.
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Matsushita Electric earnings up 2 pct.
Jul 28 2005 4:45AM (CT)
TOKYO (AP) - Japanese electronics maker Matsushita Electric posted a 2 percent increase in net profits in the April-June quarter, as restructuring and cost-cutting measures offset a slump in sales and increased raw materials costs, the company said Thursday.
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Japan plans to impose tariff on U.S. steel
Jul 28 2005 4:19AM (CT)
TOKYO (AP) - Japan plans to impose retaliatory tariffs of up to 5.7 billion yen ($51 million) against U.S. steel products, a Japanese trade official said Thursday, escalating a spat between the world's two largest economies over antidumping measures.
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Sony slashes full-year outlook by 90 pct.
Jul 28 2005 4:09AM (CT)
TOKYO (AP) - In the latest sign of trouble for Sony Corp., the electronics and entertainment company slashed its full-year profit outlook Thursday by nearly 90 percent and said it slumped to a first-quarter loss because of falling prices and a big charges for reviving its ailing consumer products business.
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Delta CEO: Transformation plan not enough
Jul 28 2005 3:49AM (CT)
ATLANTA (AP) - Delta Air Lines Inc.'s current transformation plan, which includes cutting annual costs by $5 billion by the end of next year, is not enough to save the struggling carrier, its chief executive said in a memo to employees that addressed renewed concerns about bankruptcy. The airline's shares plunged.
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Hitachi reports $214 million 1Q loss
Jul 28 2005 3:43AM (CT)
TOKYO (AP) - Japanese electronics maker Hitachi Ltd. slid into a first-quarter loss, with results undercut by slumping sales of consumer electronics and telecommunications equipment.
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Sony slumps to 1Q loss on falling sales
Jul 28 2005 2:37AM (CT)
TOKYO (AP) - Japanese electronics and entertainment company Sony Corp. said Thursday it slumped to a first-quarter loss, hurt by falling sales and a big charge to restructure its ailing consumer gadget business.
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Bank of New York overrun by competition
Jul 28 2005 1:45AM (CT)
NEW YORK (AP) - Competition among consumer banks is more frenzied in New York than almost anywhere in the United States. Regional banks from around the country have flocked to the city, hoping to snag footholds in the affluent metro area. Hometown titans Citigroup Inc. and JPMorgan Chase & Co. have scrambled to fend off the newcomers by expanding and modernizing their vast retail networks.
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Report: CNOOC may sell Unocal U.S. assets
Jul 28 2005 1:19AM (CT)
BEIJING (AP) - CNOOC Ltd. is considering a pledge to sell all of Unocal Corp.'s American assets to reduce opposition by U.S. lawmakers to its bid for the California-based oil company, a newspaper reported Thursday.
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