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Insider trading accusation in Reebok deal
Aug 5 2005 10:15PM (CT)
NEW YORK (AP) - The U.S. Securities and Exchange Commission said Friday it froze the accounts of a Croatian woman who netted $2 million in well-timed trades of Reebok International Ltd. _ trades that the SEC believes could have been made on inside information.
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Viacom second-quarter earnings match 2005
Aug 5 2005 10:13PM (CT)
NEW YORK (AP) - Viacom Inc. reported second-quarter earnings that were flat compared with the same period a year ago, when the company still owned the Blockbuster video unit. Excluding that and other discontinued operations, earnings rose 6 percent.
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Second exec gets probation in WorldCom case
Aug 5 2005 10:12PM (CT)
NEW YORK (AP) - An accounting executive who made some fraudulent entries in the books at WorldCom was sentenced Friday to five months in prison and five months of house arrest.
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SEC criticizes judge in Scrushy trial
Aug 5 2005 8:16PM (CT)
BIRMINGHAM, Ala. (AP) - Trying to preserve its civil lawsuit against Richard Scrushy over the huge fraud at HealthSouth Corp., the Securities and Exchange Commission is criticizing the judge in Scrushy's criminal trial, which ended in his acquittal.
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Justice, SEC investigate DaimlerChrysler
Aug 5 2005 8:15PM (CT)
WASHINGTON (AP) - The Justice Department is investigating whether DaimlerChrysler AG paid bribes to foreign officials with the knowledge of its senior executives, the automaker disclosed in its latest financial filings.
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Qwest workers agree to authorize strike
Aug 5 2005 8:15PM (CT)
DENVER (AP) - As a contract deadline approaches, nearly all 25,000 workers in 14 states have agreed to authorize a strike if ongoing contract negotiations with Qwest Communications International Inc. collapse, the union said Friday.
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AOL buys online storage company
Aug 5 2005 7:22PM (CT)
NEW YORK (AP) - America Online Inc. said Thursday it has bought the online storage company Xdrive Inc. to meet the growing needs of consumers with rapidly expanding collections of digital music, photos and other files.
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Enron investors ask judge for fraud ruling
Aug 5 2005 6:31PM (CT)
NEW YORK (AP) - Investors who lost money in the collapse of Enron Corp. filed a petition Friday asking the judge overseeing bankruptcy proceedings to rule on whether Merrill Lynch & Co. was a knowing participant in helping the energy trader hide massive losses.
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Amazon said to be exploring digital music
Aug 5 2005 5:12PM (CT)
LOS ANGELES (AP) - Amazon.com is exploring a possible entry into the music and video download business, music industry executives said Friday.
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CIBC to pay $250M to settle Enron suit
Aug 5 2005 5:08PM (CT)
TORONTO (AP) - The Canadian Imperial Bank of Commerce said Friday it would pay $250 million to Enron in order to settle its part of the "Megaclaims" lawsuit filed by the energy trader against 10 banks, alleging that they "aided and abetted fraud."
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Treasurys fall after rosy jobs data
Aug 5 2005 5:07PM (CT)
NEW YORK (AP) - Treasury prices fell across the board Friday, after surprising strength in July payrolls data jolted yields out of the range they had been mired in for the past two weeks.
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Friday's commodities roundup
Aug 5 2005 5:04PM (CT)
NEW YORK (AP) - Soaring gasoline futures helped send crude-oil prices to within 5 cents of a record high Friday.
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Four IPOs begin trading in Baidu's shadow
Aug 5 2005 4:46PM (CT)
WASHINGTON (AP) - Although Chinese Web search engine Baidu.com Inc.'s initial public offering debut Friday overshadowed all other offerings, four other companies also began trading for the first time.
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Tyson Foods to be added to S&P 500
Aug 5 2005 4:40PM (CT)
SPRINGDALE, Ark. (AP) - Tyson Foods Inc., the world's largest meat producer, will be added to the S&P 500, the company said Friday.
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Cardinal Health earnings slump
Aug 5 2005 4:14PM (CT)
DUBLIN, Ohio (AP) - Medical supplier Cardinal Health Inc. on Friday said its fiscal fourth-quarter earnings fell 27 percent because of restructuring costs and one-time charges, while revenue climbed to an all-time high.
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Washington Post 2Q profit falls 7 percent
Aug 5 2005 4:06PM (CT)
WASHINGTON (AP) - Newspaper publisher Washington Post Co. on Friday posted a 7 percent decline in second-quarter profit as higher costs and less political advertising depressed results in its newspaper and television divisions. Its shares fell more than 4 percent.
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Delphi dips into credit for operations
Aug 5 2005 4:04PM (CT)
TRAVERSE CITY, Mich. (AP) - Auto parts supplier Delphi Corp. said Friday it's dipping into its credit line to finance operations, raising speculation it may declare bankruptcy if restructuring talks with General Motors Corp. and the United Auto Workers union are unsuccessful.
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Ex-Merck exec, Vioxx plaintiff lawyer spar
Aug 5 2005 3:38PM (CT)
ANGLETON, Texas (AP) - Merck & Co.'s former top scientist in charge of Vioxx studies bristled Friday when pressed about whether the pharmaceutical giant's eye was on its bottom line in rushing the once-lucrative drug to market.
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Consumers borrow more freely in June
Aug 5 2005 3:36PM (CT)
WASHINGTON (AP) - Consumers boosted borrowing in June by the largest amount in eight months, the Federal Reserve reported Friday.
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Judge drops Northwest attendant's case
Aug 5 2005 3:35PM (CT)
MINNEAPOLIS (AP) - A federal judge on Friday threw out a complaint by flight attendants who said Northwest Airlines Corp. was improperly training their replacements in case they strike.
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Liberty Media narrows second-quarter loss
Aug 5 2005 3:15PM (CT)
DENVER (AP) - Liberty Media Corp. narrowed its second-quarter loss to $107 million on stronger sales from its Starz premium cable network and the home shopping channel QVC.
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Alliance one of many under NYSE probe
Aug 5 2005 2:09PM (CT)
NEW YORK (AP) - Alliance Capital Management is one of approximately 20 companies under investigation by the New York Stock Exchange for failing to properly identify short-sale stock transactions, Alliance said Friday in a regulatory filing.
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EU opens probe into Chinese DVD imports
Aug 5 2005 2:06PM (CT)
BRUSSELS, Belgium (AP) - The European Union's executive agency opened an investigation Friday into claims that cheap imports of recordable DVDs from China, Hong Kong and Taiwan have damaged European producers.
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CNOOC's failed bid a temporary setback
Aug 5 2005 12:45PM (CT)
SHANGHAI, China (AP) - Chinese oil company CNOOC's failed bid for Unocal Corp. was a painful lesson for Beijing on the potential pitfalls of overseas mergers and acquisitions, but it's unlikely to spoil China's growing appetite for foreign investments _ including in the U.S.
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Lands' End CEO leaves clothing company
Aug 5 2005 12:33PM (CT)
DODGEVILLE, Wis. (AP) - The chief executive officer of clothing manufacturer Lands' End is leaving after less than two years on the job.
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Springer to buy ProSiebenSat.1 for $4.4B
Aug 5 2005 12:27PM (CT)
FRANKFURT, Germany (AP) - German publisher Axel Springer AG said Friday it will buy broadcaster ProSiebenSat.1 Media AG from a U.S. group for $4.4 billion, positioning it for a showdown with media titan Bertelsmann AG.
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Pixar stock soars even as profit slumps
Aug 5 2005 11:51AM (CT)
NEW YORK (AP) - Shares of Pixar Animation Studios soared more than 4 percent Friday, a day after tumbling as the company reported a slump in second-quarter profit blamed on lower-than-expected home video sales of its film "The Incredibles."
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Newmont exec denies polluting waters
Aug 5 2005 11:42AM (CT)
MANADO, Indonesia (AP) - An American executive of Newmont Mining, the world's largest gold miner, told a court Friday that his company did not pollute a bay on Indonesia's Sulawesi Island, where it's accused of sickening villagers and causing fish stocks to plummet.
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Production stopped at Total's Obagi field
Aug 5 2005 10:44AM (CT)
LAGOS, Nigeria (AP) - Protesting villagers demanding more jobs for their community have forced the Nigerian branch of Total SA to shut down an onshore oil field for the past five days, company officials and residents said Friday.
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DaimlerChrysler's Mercedes faces probe
Aug 5 2005 9:39AM (CT)
FRANKFURT, Germany (AP) - DaimlerChrysler AG said Friday it is cooperating with the U.S. Justice Department, which is investigating claims that the company's Mercedes Car Group may have paid bribes to foreign officials and that senior executives were aware of it.
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General Motors to buy Indian auto parts
Aug 5 2005 7:20AM (CT)
NEW DELHI (AP) - General Motors Corp. plans to buy $1 billion worth of automobile parts from India each year by 2008 as part of cost-cutting efforts at the world's biggest automaker, a senior executive at its local subsidiary said Friday.
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BMW says global auto sales in July up
Aug 5 2005 7:15AM (CT)
FRANKFURT, Germany (AP) - Automaker BMW AG said Friday that sales of its cars rose 13.7 percent in July compared to the same month last year because of strong demand for its new 3-series sedan.
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Consumer confidence dips in early August
Aug 5 2005 7:04AM (CT)
WASHINGTON (AP) - Consumer confidence dipped in early August, the second straight monthly decline, as people were anxious about the economy's prospects and their own in the months ahead.
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British bank Barclays' net profit up
Aug 5 2005 7:02AM (CT)
LONDON (AP) - Barclays PLC posted a 2 percent increase in net profits in the first half of the year, driven by its investment banking and asset management units, the bank said Friday.
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Michelin profit climbs in first half
Aug 5 2005 7:00AM (CT)
PARIS (AP) - Tire maker Michelin reported a better-than-expected 8.9 percent rise in first-half net profit Friday as it boosted product prices to offset rising raw material costs and generally softer demand for its tires.
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VW says personnel chief Hartz leaves
Aug 5 2005 6:44AM (CT)
FRANKFURT, Germany (AP) - Peter Hartz, one of Germany's best-known business executives, has left his post as personnel chief at the automaker Volkswagen AG, the company said Friday.
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Japanese stocks drop, dollar higher
Aug 5 2005 4:33AM (CT)
TOKYO (AP) - Japanese stocks dropped Friday due to political uncertainty over the fate of a contentious vote to privatize the nation's postal system. The dollar rose against the yen.
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Large Calif. farms get $244M in subsidies
Aug 5 2005 1:08AM (CT)
SAN FRANCISCO (AP) - Some of California's largest farms receive millions of dollars in federal subsidies by "double dipping" _ using government-subsidized water to grow subsidized crops such as rice and cotton, according to a watchdog group's analysis.
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Mining executive faces prison term
Aug 5 2005 12:50AM (CT)
JAKARTA, Indonesia (AP) - In his seven years at the helm of Newmont's Indonesia operations, Richard Ness has seen one mine threatened with closure over a tax dispute and faced allegations the company stole land from villagers.
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