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J.C. Penney, Target post higher earnings
Aug 10 2006 11:54PM (CT)
NEW YORK (AP) - Two leading retail stalwarts _ J.C. Penney Co. and discounter Target Corp. _ reported on Thursday better-than-expected profits in the second quarter. Still, the outlook for consumer spending in the coming months remains muddled amid higher energy costs, rising interest rates, war in the Middle East, and the latest terrorist threat.
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Experts: Foiled plot won't stop airlines
Aug 10 2006 11:51PM (CT)
ATLANTA (AP) - The ink barely dry on second-quarter results showing fuller planes and profits some hadn't seen in years, airlines are again being tested _ this time by a foiled terror plot that is sure to make passengers uneasy about flying.
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Organizing day laborers a challenge
Aug 10 2006 11:14PM (CT)
LOS ANGELES (AP) - Unions are increasingly courting immigrant day laborers in hopes of reversing a longtime decline in membership and clout. But labor experts say organizing a work force that is mobile and largely undocumented presents enormous logistical challenges and risks of alienating rank-and-file members.
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Terror plot affects business travelers
Aug 10 2006 11:11PM (CT)
DENVER (AP) - Standing at the end of a line that snaked from the security checkpoint through the food court all the way to the ticket counters at Denver International Airport, frequent business traveler Dan Fender pondered his future and imagined the worst.
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Feds order BP to do more pipeline tests
Aug 10 2006 11:03PM (CT)
PRUDHOE BAY, Alaska (AP) - Federal regulators ordered BP PLC to conduct more rigorous tests of oil pipelines Thursday as the company said it might keep nearly half of the nation's largest oil field open despite leaks and severe corrosion.
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GM CEO: Delphi union talks progressing
Aug 10 2006 10:48PM (CT)
TRAVERSE CITY, Mich. (AP) - General Motors Corp.'s top executive predicted Thursday that complex negotiations with parts supplier Delphi and its labor unions eventually will lead to a settlement on wage and benefit reductions.
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Oil prices recovering after drop
Aug 10 2006 10:10PM (CT)
SINGAPORE (AP) - Crude oil prices partially recovered early Friday from a drop of more than $2 a barrel sparked by expectations of lower jet fuel demand and weaker consumer confidence due to the thwarted airplane attacks in Britain.
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BP signs deals to supply pipes in Alaska
Aug 10 2006 8:32PM (CT)
ANCHORAGE, Alaska (AP) - BP said Thursday it had signed two major deals to supply new pipe for approximately 10 of the 16 miles of an Alaskan oil pipeline it was forced to begin shutting down early this week.
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Federal deficit running below 2005 pace
Aug 10 2006 8:15PM (CT)
WASHINGTON (AP) - The federal deficit through June is running well below last year's pace, helped by strong growth in revenues, the Treasury Department reported Thursday.
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Europe faces shrinking pool of workers
Aug 10 2006 7:16PM (CT)
BERLIN (AP) - With almost 5 million people out of work, Germany's labor market might seem a manager's dream when it comes to filling jobs _ easy pickings from a sea of desperate applicants. Not so for entrepreneur Martin Hubschneider when he needs top talent for his software firm in Karlsruhe, Germany.
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Money funds rose in latest week
Aug 10 2006 5:23PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds rose by $1.36 billion in the latest week to $912.09 billion, the Investment Company Institute said Thursday.
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U.S. Treasury bond prices fall
Aug 10 2006 5:14PM (CT)
NEW YORK (AP) - U.S. Treasury bond prices fell Thursday, pressured lower by a disappointing long bond auction that suggested lagging demand.
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Foiled terror plot hurts airline shares
Aug 10 2006 4:53PM (CT)
LONDON (AP) - While airlines and travel companies were dealt a sharp blow Thursday by the discovery of a terrorist plot aimed at trans-Atlantic flights, shares of companies that make surveillance and detection technologies were boosted by prospects of increased spending on security.
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Dollar gains on major currencices
Aug 10 2006 3:35PM (CT)
NEW YORK (AP) - The dollar rose against most major currencies Thursday as traders absorbed news of the terror plot in London and a decision by the Federal Reserve to pause its credit tightening campaign.
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U.S. trade deficit narrows slightly
Aug 10 2006 1:15PM (CT)
WASHINGTON (AP) - America's trade deficit improved slightly in June as record sales of U.S. farm products and other exports blunted the impact of soaring crude oil prices.
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Seized assets an obstacle to Cuba trade
Aug 10 2006 12:32PM (CT)
NEW YORK (AP) - While the U.S. eyes Fidel Castro's next move, scores of companies and thousands of people whose possessions were confiscated by Cuba after the 1959 revolution are waiting to negotiate payback for their expropriated assets.
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U.S.-Cuba trade iffy, even without Fidel
Aug 10 2006 12:30PM (CT)
NEW YORK (AP) - If Fidel Castro died tomorrow, the U.S. embargo against Cuba could not be lifted like any other _ as President Bush undid by decree the 18-year trade sanctions against Libya in April or President Clinton lifted the 19-year ban against Vietnam in 1994.
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Mortgage rates dip for 3rd week
Aug 10 2006 12:06PM (CT)
WASHINGTON (AP) - Mortgage rates around the country dipped for a third week in a row, pushing 30-year mortgages to their lowest level since April.
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Air France-KLM revenue up in 1Q
Aug 10 2006 12:00PM (CT)
PARIS (AP) - Air France-KLM said Thursday that revenue in its fiscal first quarter rose 11.9 percent to 5.8 billion euros ($7.47 billion) as higher passenger numbers offset rising fuel costs.
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Target 2Q profit rises almost 13 percent
Aug 10 2006 11:59AM (CT)
MINNEAPOLIS (AP) - Discount retailer Target Corp. said second-quarter profits rose almost 13 percent, fueled by increasing sales at new and existing stores and the strength of its credit card operations
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Top Treasury official to step down
Aug 10 2006 11:25AM (CT)
WASHINGTON (AP) - The Treasury Department's top official on domestic finance matters plans to resign at the end of the current session of Congress.
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J.C. Penney profit jumps in 2Q
Aug 10 2006 11:11AM (CT)
PLANO, Texas (AP) - J.C. Penney Co. said Thursday that second-quarter profit surged by more than one-third, helped by improving sales of jewelry, accessories and women's apparel.
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GM revives Chevrolet Camaro muscle car
Aug 10 2006 10:17AM (CT)
TRAVERSE CITY, Mich. (AP) - General Motors Corp. will bring back its Chevrolet Camaro muscle car in 2008, the automaker's chairman and chief executive said Thursday.
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ImClone shares plummet
Aug 10 2006 10:14AM (CT)
NEW YORK (AP) - ImClone Systems Inc. plummeted more than 10 percent Thursday when the biotech drug maker decided to remain independent after mulling its options, including a sale of the company, for eight months.
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European carriers cancel flights to U.K.
Aug 10 2006 9:31AM (CT)
FRANKFURT, Germany (AP) - Airlines across Europe canceled flights bound for London's Heathrow Airport Thursday, and some airports said they could take on some of the diverted traffic.
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Ahold 2nd-quarter sales flat
Aug 10 2006 8:59AM (CT)
AMSTERDAM, Netherlands (AP) - Royal Ahold NV, one of the world's largest retailers, on Thursday reported that its sales in the second quarter were virtually flat and blamed unfavorable exchange rates and slower U.S. sales.
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Urban Outfitters 2Q profit falls 16 pct.
Aug 10 2006 5:42AM (CT)
PHILADELPHIA (AP) - Apparel and accessories retailer Urban Outfitters Inc., operator of the Anthropologie, Free People and Urban Outfitters brands, said Thursday that second-quarter earnings fell 16 percent due to higher fixed store occupancy costs related to lower same-store sales and additional markdowns.
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European airline, travel shares plunge
Aug 10 2006 5:41AM (CT)
LONDON (AP) - Shares of airlines and travel companies dropped sharply Thursday after British authorities reported they thwarted a terrorist plot to blow up several aircraft in flight between the United States and the Britain.
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Wal-Mart to help create Chinese unions
Aug 10 2006 4:28AM (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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Japanese stocks mixed, dollar down
Aug 10 2006 3:51AM (CT)
TOKYO (AP) - Japanese stocks were mixed Thursday as investors sold pharmaceuticals and some technology stocks that gained ground the previous day. The dollar was lower against the yen.
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Drought-related losses mount in Missouri
Aug 10 2006 3:16AM (CT)
SPRINGFIELD, Mo. (AP) - Pastures are browning and dusty across much of Missouri. Fewer barges can navigate the low water on the Mississippi and Missouri rivers. Water utilities are spending more to get mud out of sluggish rivers.
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Walt Disney 3Q profit up on unit growth
Aug 10 2006 2:49AM (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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Delta posts $2.2 billion loss in 2Q
Aug 10 2006 2:46AM (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 10 2006 2:40AM (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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Alaska freezes hiring over oil shutdown
Aug 10 2006 1:46AM (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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