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Walt Disney 3Q profit up on unit growth
Aug 9 2006 11:52PM (CT)
LOS ANGELES (AP) - Profits rose at The Walt Disney Co. in the third quarter as the media conglomerate delivered growth from every division, including movies, theme parks, cable TV networks and consumer products.
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Alaska freezes hiring over oil shutdown
Aug 9 2006 11:40PM (CT)
JUNEAU, Alaska (AP) - Gov. Frank Murkowski imposed a state hiring freeze Wednesday because of the millions of dollars in revenue Alaska is losing as a result of the Prudhoe Bay oil field shutdown, and said he would support hearings into BP's maintenance practices.
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Judge to rule on Northwest strike soon
Aug 9 2006 11:33PM (CT)
NEW YORK (AP) - A federal bankruptcy judge could rule early next week on whether to bar Northwest Airlines flight attendants from a planned strike that could disrupt flights, a spokesman for the flight attendants union said.
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Delta posts $2.2 billion loss in 2Q
Aug 9 2006 11:29PM (CT)
ATLANTA (AP) - With higher ticket prices and fuller planes driving up revenue, Delta Air Lines Inc. said it turned its first adjusted profit in nearly six years during the second quarter.
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Viacom 2Q earnings jump on cable growth
Aug 9 2006 11:27PM (CT)
NEW YORK (AP) - Viacom Inc. second-quarter earnings grew on gains from cable TV and a profit in its movie division as well as a tax gain. The results beat expectations.
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Oil prices steady despite Mideast unrest
Aug 9 2006 11:24PM (CT)
SINGAPORE (AP) - Crude oil prices showed little movement Thursday as the market watched factors influencing supply in the United States, Africa and the Middle East.
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Wal-Mart to help create Chinese unions
Aug 9 2006 11:20PM (CT)
BEIJING (AP) - Wal-Mart Stores Inc. said Thursday it has agreed to cooperate with China's state-sanctioned labor group in creating unions at its 60 Chinese outlets.
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Pipeline repairs may take several months
Aug 9 2006 11:10PM (CT)
ANCHORAGE, Alaska (AP) - BP PLC said it is working with a number of suppliers in hopes of quickly amassing materials needed to replace 16 miles of aging oil pipes on Alaska's North Slope.
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AFL-CIO to work with day laborers group
Aug 9 2006 6:51PM (CT)
LOS ANGELES (AP) - The nation's largest federation of unions agreed Wednesday to work with a network of immigrant day laborers to improve wages and working conditions for those who solicit work from street corners across America.
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EchoStar 2Q net income drops 80 percent
Aug 9 2006 6:49PM (CT)
ENGLEWOOD, Colo. (AP) - EchoStar Communications Corp., the nation's second-largest satellite television provider, said Thursday its second-quarter net income plunged 80 percent mainly because of a reversal of a valuation allowance for deferred tax assets in 2005.
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Treasury bond prices drop
Aug 9 2006 4:34PM (CT)
NEW YORK (AP) - Treasury bond prices fell on Wednesday, with the market under modest pressure after new debt sales and the Federal Reserve on Tuesday pausing its rate-tightening cycle.
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Tokyo residents have most buying power
Aug 9 2006 4:19PM (CT)
GENEVA (AP) - Residents of Tokyo have the highest purchasing power in the world, edging out people in Los Angeles, Sydney, London and Toronto, according to a new survey by the Swiss banking giant UBS that uses the "Big Mac" as its benchmark.
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Dollar mixed against major currencies
Aug 9 2006 3:09PM (CT)
NEW YORK (AP) - The dollar traded mixed against most major currencies Wednesday, one day after the Federal Reserve left interest rates unchanged but kept open the possibility of more rate hikes.
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Macy's parent remakes department stores
Aug 9 2006 1:43PM (CT)
NEW YORK (AP) - Federated is betting it can change how shoppers feel about department stores as it absorbs former May Co. shops and turns its Macy's chain into a national brand with more than 800 stores.
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Housing market hitting a rough patch
Aug 9 2006 12:51PM (CT)
WASHINGTON (AP) - The "For Sale" signs are staying out longer. House prices are easing as sellers try to lure in buyers.
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Toyota's Lexus tops dependability study
Aug 9 2006 12:32PM (CT)
DETROIT (AP) - Japan's Toyota Motor Corp. won top honors in eight categories of a closely watched vehicle dependability study, more than any other company, while mainstream brands closed in on luxury nameplates, J.D. Power and Associates said Wednesday.
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Airlines offer sales on select routes
Aug 9 2006 12:31PM (CT)
ATLANTA (AP) - Several major airlines are offering fare sales on select leisure routes heading into the traditionally slow early fall season, a welcome relief for passengers weary of higher ticket prices of late.
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Fannie Mae winds up accounting review
Aug 9 2006 12:22PM (CT)
WASHINGTON (AP) - Fannie Mae said Wednesday it believes a massive review of its accounting has uncovered all of the errors, clearing the way for the mortgage company to complete the restatement of its 2004 earnings by the end of this year. The company disclosed that the multibillion-dollar correction could be less than estimated previously.
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Federated 2Q earnings up, lifts forecast
Aug 9 2006 11:49AM (CT)
CINCINNATI (AP) - Federated Department Stores Inc. reported better-than-expected second-quarter results on Wednesday and raised its forecast for the second half of the year as it converts more stores to the Macy's nameplate.
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Cisco shares jump on bullish forecast
Aug 9 2006 11:35AM (CT)
SAN FRANCISCO (AP) - Shares of Cisco Systems Inc. jumped nearly 15 percent Wednesday, a day after the network-equipment maker reported a gain in fiscal fourth-quarter profit and issued a bullish outlook.
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Wall Street welcomes Disney, Cisco earns
Aug 9 2006 11:13AM (CT)
NEW YORK (AP) - Strong earnings from Cisco Systems Inc. and the Walt Disney Co. sent stocks higher Wednesday and helped investors digest the latest monetary policy statement from the Federal Reserve.
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3 former Comverse executives charged
Aug 9 2006 11:11AM (CT)
NEW YORK (AP) - Three former top executives at Comverse Technology Inc., a leading maker of voicemail software, have been charged in a scheme to manipulate stock options, authorities said Wednesday.
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Toll Bros' 3Q sales, contracts fall
Aug 9 2006 10:45AM (CT)
PHILADELPHIA (AP) - Luxury home builder Toll Brothers Inc. on Wednesday said third-quarter sales fell and signed contracts were cut nearly in half as the housing market continued to slow.
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Bridgestone profit down 68 percent
Aug 9 2006 9:36AM (CT)
TOKYO (AP) - Tire maker Bridgestone Corp. reported a 68 percent plunge in profit for the first half Wednesday, blaming expenses related to closing a U.S. plant and the surging cost of raw materials, including crude oil and rubber.
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Federated Department 2Q profit rises
Aug 9 2006 7:57AM (CT)
CINCINNATI (AP) - Federated Department Stores Inc. reported better-than-expected second-quarter results on Wednesday, and raised its forecast for the second half of the year, sending shares higher in pre-market trading.
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Poll: High gas prices lower driving time
Aug 9 2006 6:54AM (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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Adidas sees 24 percent boost in profit
Aug 9 2006 6:44AM (CT)
FRANKFURT, Germany (AP) - Adidas AG said Wednesday that its second-quarter net profit rose 24 percent as consumers snapped up its World Cup-related merchandise and the effects of its acquisition of Reebok took hold.
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Pakistani-born pilot sues JetBlue
Aug 9 2006 6:19AM (CT)
NEW YORK (AP) - A Pakistani-born pilot is suing JetBlue Airways Corp. for discrimination, claiming the airline rescinded a job offer and told him it was because of his background.
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Fed hits pause button on rate hikes
Aug 9 2006 4:04AM (CT)
WASHINGTON (AP) - The Federal Reserve, after engineering the longest unbroken string of interest rate hikes in recent history, has finally hit the pause button.
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N.D. farmers urged to practice fire safety
Aug 9 2006 3:12AM (CT)
BISMARCK, N.D. (AP) - When Bob Finken goes into his fields, he carries a fire extinguisher on his combine. He thinks more farmers should do the same.
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