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Oil prices slip as storm worries ease
Aug 3 2006 11:05PM (CT)
SINGAPORE (AP) - Oil prices continued to fall Friday as concerns eased that a tropical storm blowing through the Caribbean could damage oil facilities in the Gulf of Mexico.
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Japanese stock edge up, dollar gains
Aug 3 2006 10:47PM (CT)
TOKYO (AP) - Japanese stocks edged higher Friday morning as traders bought banks and electronics issues. The dollar rose against the yen.
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Apple warns of profit restatement
Aug 3 2006 10:23PM (CT)
SAN FRANCISCO (AP) - Apple Computer Inc. warned Thursday that it may have to revise its profits dating back to 2002 in a worsening stock option scandal that has cast a harsh light on Silicon Valley's compensation practices.
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Ford issues recall, sees 2Q loss
Aug 3 2006 7:55PM (CT)
WASHINGTON (AP) - Ford Motor Co., already reeling from business setbacks, recalled 1.2 million trucks, sport utility vehicles and vans Thursday amid concerns about potential engine fires.
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Gateway posts 2nd-quarter loss of $7.7M
Aug 3 2006 7:27PM (CT)
TUSTIN, Calif. (AP) - Computer maker Gateway Inc. on Thursday said it swung to a loss in the second quarter on deteriorating gross margins and sluggish revenue growth. Company shares fell more than 6 percent on the news.
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DreamWorks Animation swings to 2Q profit
Aug 3 2006 6:04PM (CT)
LOS ANGELES (AP) - Animated film studio DreamWorks Animation SKG Inc. swung to a profit in the second quarter on strong home video and pay television performance from last summer's hit "Madagascar."
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Philips to sell semiconductor unit stake
Aug 3 2006 5:42PM (CT)
AMSTERDAM, Netherlands (AP) - Royal Philips Electronics NV said Thursday it has agreed to sell an 80.1 percent stake in its semiconductor unit to a private equity group for 6.4 billion euros ($8.2 billion).
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Treasury bonds finish little changed
Aug 3 2006 4:55PM (CT)
NEW YORK (AP) - Treasury bonds ended Thursday little changed, as participants awaited the July jobs report, to be released Friday.
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Ford to focus on N. America turnaround
Aug 3 2006 4:44PM (CT)
DETROIT (AP) - Ford Motor Co. is trying to stay focused on its North American turnaround amid a drumbeat of bad news this week. The nation's No. 2 automaker expanded a major recall on Thursday, doubled its second-quarter losses the day before and for the first time, fell behind Toyota in U.S. vehicle sales.
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U.S. dollar slides against euro, pound
Aug 3 2006 3:32PM (CT)
NEW YORK (AP) - The dollar fell against the euro and the pound Thursday after the European Central Bank and the Bank of England raised interest rates.
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Retailers report solid sales in July
Aug 3 2006 3:17PM (CT)
NEW YORK (AP) - Scorching heat gave the nation's retailers an unexpected sales bounce in July, but the outlook for the back-to-school season remained muddled, with higher energy prices and interest rates still expected to challenge shoppers in the months ahead.
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Bank of England raises interest rates
Aug 3 2006 1:53PM (CT)
LONDON (AP) - The Bank of England raised interest rates a quarter of a percentage point to 4.75 percent Thursday, citing persistently high inflation as it made a largely unexpected move that changed the cost of borrowing for the first time in a year.
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ECB increases interest rate to 3 percent
Aug 3 2006 1:26PM (CT)
FRANKFURT, Germany (AP) - The European Central Bank raised its interest rate by a quarter point to 3 percent on Thursday amid warnings that inflation and rising energy prices remained a threat to economic growth.
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Starbucks shares sink as sales sputter
Aug 3 2006 1:22PM (CT)
SEATTLE (AP) - Starbucks Corp. shares sank nearly 10 percent Thursday, a day after the coffee retailer said it was retooling some store operations to improve service in the wake of slower sales growth in July.
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Warner Music 3Q loss narrows
Aug 3 2006 10:19AM (CT)
NEW YORK (AP) - Warner Music Group Corp., one of the nation's largest recording companies, said Thursday its fiscal third-quarter loss narrowed thanks to higher revenue and shrinking costs.
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CVS 2Q profit up 23 pct on sales growth
Aug 3 2006 9:45AM (CT)
WOONSOCKET, R.I. (AP) - Drug store chain CVS Corp. said Thursday its second-quarter profit rose 23 percent on solid sales growth, improved margins and greater cost controls.
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MGM Mirage 2Q profit up, but shares down
Aug 3 2006 9:40AM (CT)
LAS VEGAS (AP) - MGM Mirage Inc., one of the world's largest casino companies, said Thursday its second-quarter profit climbed 4 percent, boosted by a full quarter of results from its Mandalay Resorts Group properties and a strong performance at the Bellagio. But the results were below analysts' expectations and the company's shares tumbled nearly 7 percent.
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Big international banks flock to Dubai
Aug 3 2006 9:07AM (CT)
DUBAI, United Arab Emirates (AP) - Another land rush is under way in Dubai, but this time those clamoring for a toehold in this boomtown are not homebuyers, but U.S. and international banks.
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Sprint posts lower 2Q profit
Aug 3 2006 8:47AM (CT)
KANSAS CITY, Mo. (AP) - Sprint Nextel Corp. said Thursday that its second-quarter profit fell 38 percent as the nation's third-largest wireless carrier absorbed costs from its merger with Nextel Communications Inc.
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Marsh & McLennan reports flat 2Q profits
Aug 3 2006 8:24AM (CT)
NEW YORK (AP) - Marsh & McLennan Companies Inc., the nation's largest insurance brokerage, on Thursday said its profits were flat in the second quarter on weakness in European sales and human resources consulting. The earnings were well below what Wall Street analysts had expected.
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Wal-Mart's Mexico unit eyes banking
Aug 3 2006 7:17AM (CT)
MEXICO CITY (AP) - The Mexican unit of Wal-Mart Stores Inc. has filed for a banking license with local regulators, the latest retailer to enter the realm of financial services in Mexico in recent years.
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Ford's quarterly loss balloons to $254M
Aug 3 2006 7:12AM (CT)
NEW YORK (AP) - Ford Motor Co.'s second-quarter loss more than doubled from what the No. 2 U.S. car maker previously reported because of higher-than-expected pension costs. In a second piece of weak news, the company said its luxury car division won't be profitable this year.
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OfficeMax swings to profit in 2Q
Aug 3 2006 6:51AM (CT)
ITASCA, Ill. (AP) - OfficeMax Inc. on Thursday posted a second-quarter profit compared with a year-ago loss, as the office supplies retailer cut operating expenses. It also forecast improved operating income margin for the full year.
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Puma 2Q profit falls on marketing costs
Aug 3 2006 6:25AM (CT)
BERLIN (AP) - Sports apparel maker Puma AG said Thursday that its second-quarter profit slipped 15 percent, pulled down by hefty World Cup-related marketing costs, despite a strong rise in sales.
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Oil prices offset production decline
Aug 3 2006 5:38AM (CT)
PARIS (AP) - French oil company Total SA reported a 12 percent jump in net profit for the second quarter Thursday as a rise in oil prices offset a sharp decline in production due to disruptions in Nigeria and maintenance projects.
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Merck not liable for man's health woes
Aug 3 2006 5:09AM (CT)
LOS ANGELES (AP) - Vioxx-maker Merck & Co. faces thousands of lawsuits nationwide over the once-popular painkiller, but the pharmaceutical giant's strategy to fight each lawsuit one at a time has paid off in the first case to go to trial in California.
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