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Incentives a short-term fix for automakers
Aug 15 2005 11:50PM (CT)
DETROIT (AP) - A new survey of U.S. vehicle owners released Tuesday indicates that while this summer's employee discounts may give automakers short-term sales gains, improving quality is more important in the long run.
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Gateway posts 2Q profit, cuts estimates
Aug 15 2005 11:02PM (CT)
SAN DIEGO (AP) - Gateway Inc. said Monday that it swung to a second-quarter profit but the nation's third-largest personal computer company cut revenue and earnings estimates for the year. Company shares fell in late trading.
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Japanese stocks extend gains; Dollar lower
Aug 15 2005 10:23PM (CT)
TOKYO (AP) - Japanese stocks ticked upward Tuesday, extending gains from last week on rekindled confidence in the country's economic recovery. The dollar declined against the yen.
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Delta selling feeder carrier to SkyWest
Aug 15 2005 9:47PM (CT)
ATLANTA (AP) - Delta Air Lines Inc., which is struggling to avoid a bankruptcy filing amid persistently high fuel costs, said Monday it is selling feeder carrier Atlantic Southeast Airlines Inc. to SkyWest Inc. for $425 million in cash.
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China's central bank warns on real estate
Aug 15 2005 9:17PM (CT)
SHANGHAI, China (AP) - China faces a potential property "bubble" whose bursting could leave banks with huge losses, the central bank said in a report _ the government's frankest assessment so far of the risks from inflated real estate prices.
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Government probes Touareg door handles
Aug 15 2005 8:27PM (CT)
DETROIT (AP) - The government is investigating door handles on the Volkswagen Touareg after an owner complained that his daughter was injured when the sport utility vehicle's door swung open and caught her hand in the door frame.
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Two top executives of McLeodUSA resign
Aug 15 2005 8:14PM (CT)
CEDAR RAPIDS, Iowa (AP) - Two top executives of struggling telecommunications company McLeodUSA Inc. resigned, the company said Monday.
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Talks resume as Northwest strike nears
Aug 15 2005 8:05PM (CT)
MINNEAPOLIS (AP) - Negotiators for Northwest Airlines Corp. and the union that represents its mechanics resumed talks Monday with a hope of heading off a strike that could begin early Saturday.
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Hershey acquires specialty dessert maker
Aug 15 2005 7:00PM (CT)
HARRISBURG, Pa. (AP) - The Hershey Co., the nation's largest candy maker, announced its fourth acquisition within a year, saying Monday it has agreed to purchase a San Francisco-based maker of specialty chocolate desserts.
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OfficeMax to pick new Chicago-area HQ
Aug 15 2005 6:34PM (CT)
ITASCA, Ill. (AP) - OfficeMax Inc., the nation's third-largest office-products retailer, said Monday it intends to choose a new Chicago-area site by the end of September for an expanded corporate headquarters that also will house its retail operation now based in Ohio.
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Icahn wants Time Warner to shed cable unit
Aug 15 2005 5:44PM (CT)
NEW YORK (AP) - Financier Carl Icahn said Monday he will press Time Warner Inc. to shed its cable TV unit and embark on an aggressive buyback of $20 billion of its own shares.
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Treasurys fall modestly in active trade
Aug 15 2005 5:07PM (CT)
NEW YORK (AP) - Treasurys ended active trade on a soft note Monday with benchmarks trading at their session lows as investors brace for key inflation data scheduled for release later in the week.
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Union says talks with Qwest to resume
Aug 15 2005 5:02PM (CT)
DENVER (AP) - Qwest Communications and union representatives headed back to the bargaining table Monday afternoon after a day in which little progress was reported in reaching a new contract for nearly 25,000 employees.
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Roger Ailes to take over Fox TV stations
Aug 15 2005 4:49PM (CT)
NEW YORK (AP) - Roger Ailes, the chairman of Fox News Channel, has been named chairman of News Corp.'s group of television stations, a post recently vacated by the sudden departure last month of Lachlan Murdoch, Rupert Murdoch's eldest son.
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Monday's Commodities Roundup
Aug 15 2005 4:45PM (CT)
NEW YORK (AP) - Oil prices ended a choppy trading session Monday with modest losses, giving up only a fraction of last week's 7 percent advance.
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Bush likely to stay out of Northwest spat
Aug 15 2005 3:57PM (CT)
WASHINGTON (AP) - President Bush does not plan to use the route available to him to avert a possible strike by mechanics at Northwest Airlines Corp. that could begin as soon as this weekend, the White House said Monday.
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British Airways resumes normal operations
Aug 15 2005 3:57PM (CT)
LONDON (AP) - British Airways PLC said it was almost back to business as usual Monday as it resumed all scheduled domestic and European flights, but analysts said that the airline will not be so quick to shake off the negative effects of last week's ground-crew walkout.
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First Vioxx trial winding down
Aug 15 2005 3:48PM (CT)
ANGLETON, Texas (AP) - Jurors hearing evidence in the nation's first Vioxx-related civil trial got a day off Monday so lawyers could prepare to wind down testimony and present closing arguments by midweek.
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Shares of Lowe's rise on 2Q earnings gain
Aug 15 2005 3:47PM (CT)
CHARLOTTE, N.C. (AP) - Fueled by the nation's strong housing market, second-quarter profit for No. 2 home-improvement retailer Lowe's Cos. jumped 20 percent, beating Wall Street estimates.
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Gas prices hit new high of $2.55 a gallon
Aug 15 2005 3:46PM (CT)
NEW YORK (AP) - The retail price of gasoline soared more than 18 cents last week to an average $2.55 a gallon nationwide, a new record, the Energy Department reported Monday.
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Sprint Nextel says local co. to have debt
Aug 15 2005 3:38PM (CT)
KANSAS CITY, Mo. (AP) - Sprint Nextel Corp. said Monday its spin-off local company will have $7.25 billion in debt and award annual dividends of about $300 million.
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Agilent to sell unit for $2.66B, cut jobs
Aug 15 2005 3:28PM (CT)
SAN JOSE, Calif. (AP) - Dramatically narrowing its corporate focus, Agilent Technologies Inc. is shedding its chip unit and spinning off other assets as it concentrates on the test-and-measurement business at its historic core.
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Sysco 4Q profit edges up 1.5 percent
Aug 15 2005 3:13PM (CT)
HOUSTON (AP) - Sysco Corp., the largest food-service distributor in North America, said Monday its fourth-quarter profit edged up 1.5 percent as lower costs offset a decline in revenue.
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Oil prices fall as refinery fears ease
Aug 15 2005 2:58PM (CT)
NEW YORK (AP) - Oil prices fell sharply Monday as fears over refinery breakdowns eased after an uneventful weekend, though crude futures remained above $66 per barrel.
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U.S. pushing for limits on China textiles
Aug 15 2005 2:56PM (CT)
WASHINGTON (AP) - When U.S. and Chinese textile negotiators sit down Tuesday, the administration's effort to help beleaguered American manufacturers could end up costing consumers some of the sweet deals they have been enjoying on clothing prices.
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Macquarie Bank considers bid for LSE
Aug 15 2005 1:04PM (CT)
LONDON (AP) - Macquarie Bank Ltd., Australia's largest investment bank, rejuvenated the prospect of a bidding war for the London Stock Exchange PLC Monday when it expressed interest in buying the bourse.
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Dow Jones shares jump on report on sale
Aug 15 2005 11:30AM (CT)
NEW YORK (AP) - Shares of Dow Jones & Co., publisher of The Wall Street Journal, jumped about 16 percent in active trading Monday after a newspaper reported that members of the Bancroft family, the company's controlling shareholders, are exploring the possibility of a sale.
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Consumers in path of natural-gas surge
Aug 15 2005 10:40AM (CT)
NEW YORK (AP) - U.S. natural gas prices are up more than 30 percent in the past three weeks alone, and the effect will go well beyond gains or losses for speculators on the New York Mercantile Exchange.
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Hundreds honor late Ebony, Jet founder
Aug 15 2005 10:37AM (CT)
CHICAGO (AP) - Pioneering black publisher John H. Johnson was remembered as a generous entrepreneur who provided what many say was American media's first positive window into black culture.
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NY Fed manufacturing index beats estimates
Aug 15 2005 10:20AM (CT)
NEW YORK (AP) - Manufacturing activity in the New York Federal Reserve district was little changed in August, with the overall index holding close to its high level recorded in the prior month with a fresh reading of 23.04, compared with 23.91 in July.
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Tom Gores' company to buy U.S. Robotics
Aug 15 2005 10:07AM (CT)
BEVERLY HILLS, Calif. (AP) - Platinum Equity, a private equity company owned by billionaire Tom Gores, is acquiring struggling computer modem maker U.S. Robotics Corp. in an all-cash deal, the companies announced Monday.
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Reliant settles suits with Calif. utilities
Aug 15 2005 9:36AM (CT)
HOUSTON (AP) - Reliant Energy Inc. on Monday agreed to pay $445 million to settle lawsuits filed by investor-owned utilities that claimed the company attempted to pump up trade volumes and revenues in the midst of an energy crisis in Western states.
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London businesses: economy confidence low
Aug 15 2005 8:37AM (CT)
LONDON (AP) - A survey of London businesses found Monday that last month's deadly terrorist attacks pushed confidence in the economy to its lowest point since the start of the Iraq war.
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U.S. officials to decide on shrimp tariffs
Aug 15 2005 7:04AM (CT)
BANGALORE, India (AP) - A U.S. International Trade Commission team plans to visit India to determine if the damage last year's tsunami caused to shrimp farms warrants revoking punitive tariffs imposed on Indian shrimp exports to the United States, an Indian trade official said Monday.
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Agilent to sell chip unit for $2.66B
Aug 15 2005 6:45AM (CT)
PALO ALTO, Calif. (AP) - Agilent Technologies Inc. on Monday said it will sell its chip unit to buyout firms Kohlberg Kravis Roberts & Co. and Silver Lake Partners for $2.66 billion, and posted a higher third-quarter profit.
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China's foreign direct investment drops
Aug 15 2005 6:25AM (CT)
SHANGHAI, China (AP) - Foreign direct investment in China fell 3.4 percent to $33.1 billion in the first seven months of this year compared with the same period last year, the Ministry of Commerce reported Monday.
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Arbitration panel clears ex-Kmart CEO
Aug 15 2005 5:18AM (CT)
TROY, Mich. (AP) - An arbitration panel cleared former Kmart chairman and CEO Charles Conaway of accusations he squandered millions of dollars as the discount retailer slid into bankruptcy.
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Philips pays for control of U.S. Lumileds
Aug 15 2005 4:59AM (CT)
AMSTERDAM, Netherlands (AP) - Royal Philips Electronics NV said Monday it will buy 47 percent of U.S.-based lighting company Lumileds from Agilent Technologies Inc. for $950 million, giving it a controlling stake of 96.5 percent altogether.
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China steelmaker's Anshan and Benxi merge
Aug 15 2005 4:46AM (CT)
SHANGHAI, China (AP) - China's second-biggest steelmaker, Anshan Iron and Steel Group, said Monday that it has merged with smaller competitor Benxi Iron and Steel Group, creating a rival for the nation's No. 1 steelmaker, Baosteel.
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Nation's cotton production forecast down
Aug 15 2005 2:25AM (CT)
LUBBOCK, Texas (AP) - Texas' cotton crop suffered from a lack of rain early in the growing season, influencing a federal forecast that shows a 22 percent drop in cotton production nationwide this year from 2004's record harvest.
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Macquarie mulls bid for London Exchange
Aug 15 2005 1:55AM (CT)
SYDNEY, Australia (AP) - Australia's biggest investment bank, Macquarie Bank Ltd., said Monday it is considering making a cash bid for the London Stock Exchange PLC as part of a consortium.
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China airlines reports director arrested
Aug 15 2005 1:50AM (CT)
SHANGHAI, China (AP) - China Southern Airlines Co., one of China's three major carriers, said Monday that one of its board directors has been arrested by the police.
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