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Oil prices climb in Asian trading
Aug 8 2007 11:54PM (CT)
SINGAPORE (AP) - Oil prices rose Thursday in Asia after a U.S. government report showed big declines in crude and gasoline stockpiles and an unexpected drop in refinery activity.
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China pours money into drug, food safety
Aug 8 2007 11:50PM (CT)
BEIJING (AP) - China's food and drug regulator said Wednesday it would meet regularly with its U.S. counterpart to crack down on counterfeit pharmaceuticals and boost product safety.
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Blockbuster to buy movie download firm
Aug 8 2007 11:16PM (CT)
LOS ANGELES (AP) - Video rental chain Blockbuster Inc. said Wednesday it is buying the digital movie download service Movielink, giving it the online foothold it has long sought to compete with rival Netflix Inc.
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Venezuela takes oil patronage to Uruguay
Aug 8 2007 11:04PM (CT)
MONTEVIDEO, Uruguay (AP) - Venezuela's socialist President Hugo Chavez took a campaign of petrodollar diplomacy to Uruguay on Wednesday, seeking stronger political ties while offering energy aid from one of the world's largest oil producers.
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Venezuela takes oil patronage to Uruguay
Aug 8 2007 11:04PM (CT)
MONTEVIDEO, Uruguay (AP) - Venezuela's socialist President Hugo Chavez took a campaign of petrodollar diplomacy to Uruguay on Wednesday, seeking stronger political ties while offering energy aid from one of the world's largest oil producers.
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Venezuela takes oil patronage to Uruguay
Aug 8 2007 11:04PM (CT)
MONTEVIDEO, Uruguay (AP) - Venezuela's socialist President Hugo Chavez took a campaign of petrodollar diplomacy to Uruguay on Wednesday, seeking stronger political ties while offering energy aid from one of the world's largest oil producers.
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Venezuela takes oil patronage to Uruguay
Aug 8 2007 11:04PM (CT)
MONTEVIDEO, Uruguay (AP) - Venezuela's socialist President Hugo Chavez took a campaign of petrodollar diplomacy to Uruguay on Wednesday, seeking stronger political ties while offering energy aid from one of the world's largest oil producers.
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Realtors group lowers housing forecast
Aug 8 2007 7:17PM (CT)
WASHINGTON (AP) - Home sales will hit a five-year low this year, as wary lenders cut back on loans for many borrowers, a trade group for real estate agents said Wednesday.
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Agency says Asia's rich-poor gap growing
Aug 8 2007 7:17PM (CT)
BEIJING (AP) - The gap between rich and poor in China and other Asian countries is growing, possibly fueling unrest, the Asian Development Bank said in a report Wednesday.
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Sprint Nextel profit drops on costs
Aug 8 2007 7:17PM (CT)
KANSAS CITY, Mo. (AP) - Wireless provider Sprint Nextel Corp. on Wednesday said second-quarter profits dropped sharply, but it still beat Wall Street estimates and had positive news on subscriber growth for the first time in almost a year.
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AIG posts 34 percent jump in 2Q profit
Aug 8 2007 7:16PM (CT)
NEW YORK (AP) - American International Group Inc., one of the world's largest insurers, on Wednesday said its second-quarter profit jumped 34 percent on growth in its general and life insurance groups.
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McDonald's July same-store sales rise
Aug 8 2007 7:16PM (CT)
OAK BROOK, Ill. (AP) - McDonald's Corp. on Wednesday said same-store sales rose 6.5 percent in July, helped by breakfast menu offerings in the United States.
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Bush confident of market recovery
Aug 8 2007 7:16PM (CT)
WASHINGTON (AP) - President Bush struck a reassuring tone Wednesday about recent turbulence on Wall Street, saying he believes the markets will work their way through the turmoil safely and achieve a "soft landing."
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Cable networks boost News Corp. earnings
Aug 8 2007 7:15PM (CT)
NEW YORK (AP) - Rupert Murdoch's News Corp. reported higher earnings in its latest quarter Wednesday, one week after the media conglomerate wrapped up a three-month campaign to buy Wall Street Journal publisher Dow Jones & Co.
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Treasurys sink as safe-haven bid fades
Aug 8 2007 6:10PM (CT)
NEW YORK (AP) - U.S. Treasury bonds were crushed Wednesday as a sense of calm returned to credit markets, drying up the demand for safe investments.
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Dollar rises against yen
Aug 8 2007 4:47PM (CT)
NEW YORK (AP) - The dollar rose against the yen on Wednesday after a U.S. Federal Reserve statement eased worries about the economy and fueled traders' appetite for riskier investments.
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Cosmetics maker Revlon narrows loss
Aug 8 2007 4:44PM (CT)
NEW YORK (AP) - Revlon Inc. reported narrowed second-quarter losses Wednesday as the New York-based cosmetics company reaped benefits from a restructuring program initiated last year, a solid rise in sales and better cost controls.
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Cablevision profits jump on asset sale
Aug 8 2007 4:42PM (CT)
NEW YORK (AP) - Cablevision Systems Corp., a New York-area cable TV provider, reported higher profits Wednesday following an asset sale, but lowered its full-year revenue and profit estimates.
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Fewer Mexicans are sending money home
Aug 8 2007 4:17PM (CT)
WASHINGTON (AP) - One in three Mexican migrants living in states where Hispanic migration is relatively new stopped sending money home this year. Anti-immigrant sentiment may be to blame, the Inter-American Development Bank reported Wednesday.
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Delphi posts loss, flat sales
Aug 8 2007 4:00PM (CT)
DETROIT (AP) - Delphi Corp. on Wednesday posted a narrower net loss during the second quarter that reflected charges for its restructuring and estimated costs related to lawsuits over allegations of accounting improprieties that led to restated earnings.
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Cisco shares jump on higher 4Q profit
Aug 8 2007 3:49PM (CT)
SAN FRANCISCO (AP) - Cisco Systems Inc. shares jumped 7 percent after the network equipment maker reported fiscal fourth-quarter results that beat Wall Street's expectations and boosted its financial forecast.
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Cisco shares jump on higher 4Q profit
Aug 8 2007 3:49PM (CT)
SAN FRANCISCO (AP) - Cisco Systems Inc. shares jumped 7 percent after the network equipment maker reported fiscal fourth-quarter results that beat Wall Street's expectations and boosted its financial forecast.
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Strong rise in agriculture futures
Aug 8 2007 2:45PM (CT)
NEW YORK (AP) - Soybean prices jumped Wednesday on the Chicago Board of Trade as traders bet that triple-digit heat in a key U.S. growing region could damage crops.
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Strong rise in agriculture futures
Aug 8 2007 2:45PM (CT)
NEW YORK (AP) - Soybean prices jumped Wednesday on the Chicago Board of Trade as traders bet that triple-digit heat in a key U.S. growing region could damage crops.
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Despite data, Fed leaves rates steady
Aug 8 2007 11:39AM (CT)
WASHINGTON (AP) - Wall Street turbulence, Main Street credit problems and a nationwide housing slump pose increasing risks to the economy, the Federal Reserve said Tuesday, even as it left interest rates unchanged.
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Despite data, Fed leaves rates steady
Aug 8 2007 11:39AM (CT)
WASHINGTON (AP) - Wall Street turbulence, Main Street credit problems and a nationwide housing slump pose increasing risks to the economy, the Federal Reserve said Tuesday, even as it left interest rates unchanged.
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Liberty Media reports mixed 2Q results
Aug 8 2007 10:17AM (CT)
ENGLEWOOD, Colo. (AP) - Diversified media holding company Liberty Media Corp. posted mixed first-quarter operating results at its Liberty Interactive Group and Liberty Capital Group, which file earnings reports separately.
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Bausch & Lomb posts $15M profit
Aug 8 2007 10:09AM (CT)
ROCHESTER, N.Y. (AP) - Bausch & Lomb Inc., which has agreed to a $3.67 billion buyout by a private equity firm, on Wednesday reported a $15 million profit in the second quarter on higher sales of contact lenses, eye-care medicines and lens cleaners.
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Virgin America threat not seen as dire
Aug 8 2007 9:15AM (CT)
NEW YORK (AP) - Just as some airlines are beginning to get back on their feet after cutting capacity to lower costs and boost profits, Virgin America is entering the fray Wednesday with flights that could mark the beginning of stiffer price competition.
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Virgin America threat not seen as dire
Aug 8 2007 9:15AM (CT)
NEW YORK (AP) - Just as some airlines are beginning to get back on their feet after cutting capacity to lower costs and boost profits, Virgin America is entering the fray Wednesday with flights that could mark the beginning of stiffer price competition.
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Cacti specialist markets seeds, plants
Aug 8 2007 2:31AM (CT)
BELEN, N.M. (AP) - To connoisseurs of cactus, Steven Brack is the prince of prickly, the sultan of succulents _ the man who keeps them flush with seeds both rare and common.
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