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BP faces scrutiny for pipeline shutdown
Aug 8 2006 11:59PM (CT)
WASHINGTON (AP) - Shutting its North Slope operations is only the latest problem for oil giant BP, which already is the target of a federal grand jury, the Environmental Protection Agency and congressional investigators for letting its Alaska pipeline crumble.
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Report: Number of uninsured kids shrinking
Aug 8 2006 11:34PM (CT)
PLAINSBORO, N.J. (AP) - State programs that provide health coverage for poor children are working, with the number of uninsured youngsters declining by more than 20 percent between 1997 and 2004, according to a new study.
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Ford unveils souped-up Mustang Shelby GT
Aug 8 2006 11:33PM (CT)
DETROIT (AP) - Ford Motor Co. is unveiling the latest limited-edition souped-up Mustang born of the automaker's renewed partnership with racing legend Carroll Shelby.
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Japanese stocks lower, dollar higher
Aug 8 2006 10:17PM (CT)
TOKYO (AP) - Japanese stocks fell Wednesday morning after rallying more than 2 percent the day before. The dollar was higher against the yen.
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Poll: High gas prices lower driving time
Aug 8 2006 8:42PM (CT)
WASHINGTON (AP) - High gasoline prices already had most people cutting back on driving before the shutdown of an Alaska pipeline threatened to push costs even higher. However, few drivers are making bigger changes, such as carpooling or using mass transit.
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BP seeks workers to fix transit lines
Aug 8 2006 6:58PM (CT)
ANCHORAGE, Alaska (AP) - Oil giant BP searched for skilled workers and steel pipe Tuesday to replace badly corroded transit lines that this week forced the shutdown of operations at the largest oil field in the U.S.
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Bristol-Myers Squibb stock down 6.8 pct.
Aug 8 2006 6:33PM (CT)
NEW YORK (AP) - Bristol-Myers Squibb Co. shares plunged nearly 7 percent Tuesday on concerns its earnings and dividend are in serious jeopardy now that a generic version of its best-selling medicine has been launched by Apotex Corp.
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News Corp. 4Q earnings up on radio sale
Aug 8 2006 5:41PM (CT)
NEW YORK (AP) - News Corp.'s earnings rose 19 percent as stronger results from cable networks, broadcast television and movies outweighed a slump in newspapers, the media company reported Tuesday. Results were also lifted by a gain from selling a European radio business.
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U.S. Treasury prices are narrowly mixed
Aug 8 2006 4:55PM (CT)
NEW YORK (AP) - Treasury prices were narrowly mixed Tuesday, as investors took in stride the Federal Reserve's widely-anticipated decision to pause its 2-year rate-tightening cycle.
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Cisco Systems 4Q earnings top estimates
Aug 8 2006 4:54PM (CT)
SAN FRANCISCO (AP) - Networking gear provider Cisco Systems Inc. exceeded Wall Street estimates Tuesday with fiscal fourth-quarter profit that was almost the same as in the year-ago period, before the company introduced significant accounting changes.
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Aramark agrees to $6.3B buyout by group
Aug 8 2006 4:09PM (CT)
PHILADELPHIA (AP) - Aramark Corp., the nation's largest food-service company, said Tuesday it agreed to be acquired by an investment group led by its longtime chief executive for $6.3 billion, plus the assumption of about $2 billion in debt.
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Private owners tout future of newspapers
Aug 8 2006 4:07PM (CT)
PHILADELPHIA (AP) - Brian Tierney just bought a business with rapidly dwindling profits in an industry undergoing a wrenching transformation. Negotiations with several unions are just getting under way, and the lobby of the building hasn't been painted in years.
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Dollar mixed after Fed leaves rate alone
Aug 8 2006 3:39PM (CT)
NEW YORK (AP) - The dollar traded mixed against most major currencies Tuesday after the Federal Reserve kept interest rates unchanged for the first time in more than two years, but hinted that the pause could be temporary.
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Clear Channel 2Q profit falls to $197.5M
Aug 8 2006 3:35PM (CT)
SAN ANTONIO (AP) - Clear Channel Communications Inc., the nation's largest operator of radio stations, said Tuesday its second-quarter earnings fell more than 10 percent as higher operating costs offset a gain in revenue.
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Oil prices slide on shutdown of pipeline
Aug 8 2006 3:34PM (CT)
NEW YORK (AP) - Crude oil prices slipped Tuesday after Energy Secretary Samuel Bodman said extra supplies can replace oil lost from the shutdown of a major Alaskan pipeline owned by BP PLC.
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UAW indicates willingness to help Ford
Aug 8 2006 1:25PM (CT)
DEARBORN, Mich. (AP) - The United Auto Workers union is willing to discuss further buyouts and other cost-cutting measures to help ailing Ford Motor Co., a top union official said.
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ConAgra agrees to sell cheese business
Aug 8 2006 1:04PM (CT)
OMAHA, Neb. (AP) - Packaged-food company ConAgra Foods Inc. said Tuesday it has sold its cheese business to Fairmount Food Group for an undisclosed price, completing its plans to sell businesses that don't fit its focus on branded foods.
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Africa, China bonds have mutual benefits
Aug 8 2006 12:30PM (CT)
JOHANNESBURG, South Africa (AP) - On a parade ground in the Zimbabwean capital, the national commissioner of police recently told police academy graduates that they should learn Chinese. And why not; African regimes such as Zimbabwe, largely shunned by the West, are turning to China for economic and political salvation.
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Machinists strike at Tenn. Boeing plant
Aug 8 2006 11:31AM (CT)
OAK RIDGE, Tenn. (AP) - Some 300 machinists are striking at a Boeing Co. airliner components factory after rejecting a labor contract over job security and benefits.
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DirecTV 2nd-quarter profit surges
Aug 8 2006 11:16AM (CT)
EL SEGUNDO, Calif. (AP) - Satellite television provider DirecTV Group Inc. said Tuesday second-quarter earnings nearly tripled as an accounting change boosted earnings, and revenue rose 10 percent.
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Cablevision delays filing 2Q results
Aug 8 2006 10:28AM (CT)
NEW YORK (AP) - Cablevision Systems Corp., a New York-area cable TV systems operator, said Tuesday it would delay filing its second-quarter earnings and restate prior results because of a review into the pricing and timing of stock options.
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Caremark Rx 2Q profit up 20 percent
Aug 8 2006 9:20AM (CT)
NASHVILLE, Tenn. (AP) - Caremark Rx Inc. said Tuesday its second-quarter net income climbed 20 percent, prompting the provider of pharmaceutical services to increase its full-year earnings guidance.
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Bush admin. to review duty-free trade
Aug 8 2006 8:24AM (CT)
WASHINGTON (AP) - Russia, Brazil, India and 10 other countries could lose preferential trade benefits under a review announced Monday by the Bush administration.
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Clear Channel Outdoor 2Q profit surges
Aug 8 2006 7:11AM (CT)
SAN ANTONIO (AP) - Display advertising company Clear Channel Outdoor Holdings Inc. said Tuesday second-quarter earnings nearly tripled as an increase in international ad revenue overcame higher expenses.
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Bausch & Lomb to delay filing 2Q results
Aug 8 2006 6:54AM (CT)
ROCHESTER, N.Y. (AP) - Contact-lens provider Bausch & Lomb Inc. said Tuesday it would delay filing its second-quarter financial report and said it expects the recall of a lens solution will lower its full-year results for last year.
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Fed may be finished raising rates
Aug 8 2006 6:28AM (CT)
WASHINGTON (AP) - The Federal Reserve may finally be ready to halt its two-year campaign to raise interest rates, but with soaring energy prices threatening to make inflation worse any pause may be temporary.
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Krispy Kreme to open 1st shop in China
Aug 8 2006 6:22AM (CT)
HONG KONG (AP) - U.S. doughnut maker Krispy Kreme plans to begin dipping into the massive Chinese-speaking market Tuesday by opening a shop in Hong Kong _ China's richest city.
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Director pay rises more slowly in 2005
Aug 8 2006 6:20AM (CT)
NEW YORK (AP) - Pay to corporate directors grew last year at a slower rate than in 2004 as boards absorbed rules changes brought about by accounting scandals, a new study by Mercer Human Resource Consulting shows.
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