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Japanese stocks higher, dollar edges up
Aug 2 2006 10:34PM (CT)
TOKYO (AP) - Japanese stocks rose Thursday morning, boosted by the rally on Wall Street. The dollar was slightly higher against the yen and euro.
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Ford revises 2Q loss to $254M on costs
Aug 2 2006 10:28PM (CT)
NEW YORK (AP) - Ford Motor Co. said late Wednesday that its second-quarter loss was more than double what the automaker previously reported due to higher-than-expected pension costs, and added that its luxury car division won't turn a profit this year based on recent sales trends.
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Merck not liable for man's health woes
Aug 2 2006 10:05PM (CT)
LOS ANGELES (AP) - A California jury on Wednesday cleared pharmaceutical company Merck & Co. of liability in the case of an elderly man who claimed his heart ailments were caused by the drug maker's once-popular painkiller Vioxx.
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Starbucks' sales slide on frozen drinks
Aug 2 2006 8:46PM (CT)
SEATTLE (AP) - Feverish summer demand for frozen drinks in the morning gummed up lines at Starbucks Corp. last month, slowing sales and presenting a rare operational snag for the world's largest specialty coffee retailer.
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McClatchy wraps up sale of papers
Aug 2 2006 8:31PM (CT)
SACRAMENTO, Calif. (AP) - McClatchy Co. on Wednesday completed the $1 billion sale of the San Jose Mercury News, Contra Costa Times, Monterey County Herald and St. Paul Pioneer Press, finishing the publisher's disposal of a dozen newspapers picked up in its recent acquisition of Knight Ridder Inc.
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Shares of heart device makers fluctuate
Aug 2 2006 5:51PM (CT)
BOSTON (AP) - Stocks of heart device makers rode a roller coaster Wednesday after the government backed off a proposal to slash Medicare reimbursement by as much as a third for expensive but potentially lifesaving devices such as defibrillators and stents.
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Napster narrows 1Q loss to $9.8 million
Aug 2 2006 5:34PM (CT)
LOS ANGELES (AP) - Napster Inc. said Wednesday its fiscal first-quarter loss narrowed from the year-ago period, as the online music service posted strong revenue and boosted its subscriber rolls during the quarter.
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U.S. Treasury bond prices rise
Aug 2 2006 5:13PM (CT)
NEW YORK (AP) - U.S. Treasury bond prices rose Wednesday, as early weakness attracted modest buying from investors confident the Federal Reserve will soon cease raising rates.
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Survey: Corporate ethics concern workers
Aug 2 2006 4:32PM (CT)
NEW YORK (AP) - Unethical corporate managers contribute to lower worker productivity, drive away recruits and make some employees leave, a new survey says.
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GM unveils redesigned full-size pickups
Aug 2 2006 3:53PM (CT)
DETROIT (AP) - General Motors Corp. on Wednesday unveiled two redesigned pickups, which the automaker plans to speed to showrooms ahead of their scheduled debuts as it rushes to generate cash and show investors its turnaround plan is working.
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Procter & Gamble 4Q profit up 36 percent
Aug 2 2006 3:36PM (CT)
CINCINNATI (AP) - The Procter & Gamble Co., maker of Crest toothpaste, Pampers diapers, Tide detergent and other well-known household products, said Wednesday its fourth-quarter profit grew 36 percent, as price increases helped boost revenue.
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Time Warner reports $1 billion 2Q profit
Aug 2 2006 3:28PM (CT)
NEW YORK (AP) - Time Warner Inc. swung to a $1 billion profit in the second quarter and released details Wednesday of a long-anticipated plan to offer many AOL services such as e-mail for free.
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Gas prices climb amid heat wave in U.S.
Aug 2 2006 3:25PM (CT)
NEW YORK (AP) - Natural gas prices rose Wednesday as scorching temperatures that baked states in the Northeast and the Midwest put pressure on the nation's electricity grids.
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Dollar ends mixed
Aug 2 2006 3:21PM (CT)
NEW YORK (AP) - The dollar finished mixed against other major currencies Wednesday as markets awaited the European Central Bank's decision on interest rates and clues about its course on rates.
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Dollar ends mixed
Aug 2 2006 3:21PM (CT)
NEW YORK (AP) - The dollar finished mixed against other major currencies Wednesday as markets awaited the European Central Bank's decision on interest rates and clues about its course on rates.
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Mortgage volume sinks to 4-year low
Aug 2 2006 12:50PM (CT)
NEW YORK (AP) - Mortgage application volume fell to its lowest level in more than four years last week, the latest indication that the once red-hot real estate market is cooling down.
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MasterCard posts 2Q loss
Aug 2 2006 12:21PM (CT)
NEW YORK (AP) - MasterCard Inc., which went public in May, reported a second-quarter loss on Wednesday as the world's second-largest credit card brand took charges related to its initial public offering and legal defense reserves.
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China market puts Mary Kay in the pink
Aug 2 2006 11:40AM (CT)
DALLAS (AP) - Hope of joining China's growing middle class drove Xiang Jun Mei, a poor rice farmer's daughter, to hawk Mary Kay products door-to-door and to everyone she met.
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Credit Suisse profit more than doubles
Aug 2 2006 8:20AM (CT)
ZURICH, Switzerland (AP) - Credit Suisse Group said Wednesday its second-quarter net profit more than doubled after the elimination of legal provisions that lowered results a year earlier.
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Philips shares up on report of unit sale
Aug 2 2006 7:31AM (CT)
AMSTERDAM, Netherlands (AP) - Shares in Royal Philips Electronics NV jumped Wednesday following reports that the company is close to a deal to sell its semiconductor division to a U.S. private equity consortium for more than $10 billion.
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BASF profit grows 18 pct on oil and gas
Aug 2 2006 7:28AM (CT)
FRANKFURT, Germany (AP) - BASF AG, the world's largest chemical company, said Wednesday its second-quarter profit rose by 18 percent, helped by a surge in earnings at its oil and gas unit.
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BMW's 2nd-quarter net profit up
Aug 2 2006 7:25AM (CT)
FRANKFURT, Germany (AP) - Automaker BMW AG said Wednesday that its second-quarter net profit climbed by more than 17 percent as new models powered a healthy rise in sales.
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China looks at ways to cool growth
Aug 2 2006 7:18AM (CT)
BEIJING (AP) - Officials are examining new steps to cool off China's sizzling economy as its top planning agency called for tighter bank credit and curbs on construction, state media reported.
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Mitsubishi Motors trims fiscal 1Q loss
Aug 2 2006 6:51AM (CT)
TOKYO (AP) - Struggling Mitsubishi Motors reduced its losses for the April-June quarter, helped by a weaker yen and a slightly better performing U.S. subsidiary, the Japanese automaker said Wednesday.
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Some Merrill Lynch convictions reversed
Aug 2 2006 4:48AM (CT)
DALLAS (AP) - A federal appeals court on Tuesday reversed several convictions against four former Merrill Lynch executives found guilty of helping engineer Enron's 1999 sale of mobile power plants to the brokerage to help the energy trader appear to have met earnings targets.
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Rebuilding Japan beef trade may be slow
Aug 2 2006 1:39AM (CT)
OMAHA, Neb. (AP) - Now that Japan has lifted its ban on U.S. beef, American beef producers are eager to resume trade there, but analysts say restoring sales to pre-ban levels and regaining the trust of Japanese consumers will be a slow process.
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Oji Paper launches hostile takeover bid
Aug 2 2006 12:21AM (CT)
TOKYO (AP) - Oji Paper Co., Japan's largest paper producer, began a hostile bid Wednesday for rival Hokuetsu Paper Mills Ltd. in a deal that would create the world's No. 5 paper maker.
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