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Hawaii sets caps on wholesale gas prices
Aug 24 2005 11:53PM (CT)
HONOLULU (AP) - In an effort to gain some control over what motorists pay at the pump, Hawaii on Wednesday became the first state in the U.S. to set caps on the wholesale price of gasoline.
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Crude oil prices jump to $68 a barrel
Aug 24 2005 11:51PM (CT)
SINGAPORE (AP) - Crude oil prices hit a record $68 a barrel Thursday after the United States reported a decline in gasoline stocks and China said its crude imports spiked in July, as the mainland's thirst for oil shows no signs of easing.
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Japanese stocks decline; dollar down
Aug 24 2005 10:49PM (CT)
TOKYO (AP) - Japanese stocks declined Thursday morning as record-high oil prices dampened optimism about the Japanese economy. The dollar fell against the yen.
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Wednesday's commodities roundup
Aug 24 2005 9:30PM (CT)
NEW YORK (AP) - Supply concerns heightened by a new tropical storm and a steep decline in gasoline inventories helped send oil prices to a fresh record high Wednesday.
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Anheuser-Busch to give Maris family $120M
Aug 24 2005 9:19PM (CT)
ORLANDO, Fla. (AP) - Anheuser-Busch Cos Inc. agreed to pay at least $120 million in cash to the family of former home run king Roger Maris as part of a settlement that ended a defamation trial and other litigation, according to a regulatory filing the brewer made Wednesday.
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News Corp's Lachlan Murdoch earned $7.8M
Aug 24 2005 8:30PM (CT)
WASHINGTON (AP) - Media conglomerate News Corp. said Wednesday that Deputy Chief Operating Officer Lachlan Murdoch received a salary and bonus totaling $7.8 million for the year ended June 30.
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Westar fraud case goes to jury
Aug 24 2005 8:20PM (CT)
KANSAS CITY, Kan. (AP) - Jurors began deliberations Wednesday in the federal fraud trial of two former Westar Energy Inc. executives charged with looting the Kansas utility.
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Johnson Controls to buy York International
Aug 24 2005 6:42PM (CT)
HARRISBURG, Pa. (AP) - Johnson Controls Inc. is buying York International Corp., which makes ventilation, air conditioning and refrigeration equipment, for about $2.4 billion cash.
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Minn. spammer indicted on pharmacy charges
Aug 24 2005 5:55PM (CT)
MINNEAPOLIS (AP) - A Minnesota man considered one of the world's most prolific e-mail spammers was indicted on more than a dozen federal charges related to the operation of his business, Xpress Pharmacy Direct.
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Bonds boosted by solid auction, oil spike
Aug 24 2005 5:52PM (CT)
NEW YORK (AP) - A well-received two-year auction and a spike in oil prices to another record high helped Treasury bonds recover earlier losses Wednesday.
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Phillips-Van Heusen 2Q profits climb
Aug 24 2005 5:50PM (CT)
NEW YORK (AP) - Dress shirt maker Phillips-Van Heusen Corp. on Wednesday reported a higher second-quarter profit on strong shirt and sportswear sales, prompting the company to raise its full-year guidance and forecast third-quarter results above Wall Street expectations
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EDS sees more revenue from British pact
Aug 24 2005 5:41PM (CT)
PLANO, Texas (AP) - Electronic Data Systems Corp. on Wednesday said it revised its contract with the British Department for Work and Pensions, a move that boosts estimated revenue from the deal by $1.4 billion.
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Conde Nast to start business magazine
Aug 24 2005 5:28PM (CT)
NEW YORK (AP) - Conde Nast Publications Inc., the publisher of Vanity Fair and Vogue, said Wednesday it will start up a monthly business magazine, the company's first foray into the business magazine world.
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Bombardier posts profit rise on asset sale
Aug 24 2005 5:11PM (CT)
MONTREAL (AP) - Bombardier Inc., the Canadian transportation equipment maker, reported its profit surged in the second quarter on a big gain from the sale of some finance operations and said Wednesday it will sharply cut production of its 50-seat regional jet as it shifts its focus to larger aircraft.
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Research finds no slavery ties at B of A
Aug 24 2005 5:00PM (CT)
CHARLOTTE, N.C. (AP) - A research report into the history of the many banks that now make up Bank of America Corp. turned up no evidence the predecessor institutions profited from slavery, the bank said Wednesday.
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Calif. to widen drug price-gouging lawsuit
Aug 24 2005 4:43PM (CT)
LOS ANGELES (AP) - A slew of U.S. pharmaceutical companies will be named as defendants in a lawsuit accusing drug makers of bilking California taxpayers out of hundreds of millions of dollars by inflating drug prices, state officials said Wednesday.
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TiVo reports its first profit
Aug 24 2005 4:42PM (CT)
SAN JOSE, Calif. (AP) - TiVo Inc., the digital video recording pioneer, reported the first profit in the company's eight-year history as it outpaced Wall Street expectations.
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Moody's cuts General Motors, Ford debt
Aug 24 2005 4:39PM (CT)
NEW YORK (AP) - Moody's Investors Service on Wednesday became the latest credit rating agency to slash debt of both General Motors Corp. and Ford Motor Co. to "junk" status, a move that will further increase borrowing costs for automakers.
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Renal Care Group shareholders OK merger
Aug 24 2005 4:19PM (CT)
NASHVILLE, Tenn. (AP) - Renal Care Group Inc. shareholders voted overwhelmingly Wednesday to approve a $3.5 billion merger with Fresenius Medical Care AG that would make it one of the world's biggest dialysis care companies.
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Northwest strike may benefit airlines
Aug 24 2005 4:18PM (CT)
MINNEAPOLIS (AP) - Several Northwest Airlines Corp. competitors are reporting a small increase in business since the carrier's mechanics went on strike last week.
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Beverly accepts raised NASC buyout offer
Aug 24 2005 4:14PM (CT)
LITTLE ROCK, Ark. (AP) - Nursing home operator Beverly Enterprises Inc. said Wednesday that it accepted a sweetened takeover bid from North American Senior Care Inc. which values the company at more than $1.9 billion and narrowly tops a counteroffer made last week by a rival bidder.
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Brown-Forman 1Q profit falls 21 percent
Aug 24 2005 4:06PM (CT)
LOUISVILLE, Ky. (AP) - Brown-Forman Corp., the maker of Jack Daniels, Southern Comfort and other liquor an wine brands, said Wednesday its profit fell 21 percent in its first quarter, weighed down by the impact of the planned sale of its Lenox Inc. china and crystal business.
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AOL to pay $1.25M to settle state inquiry
Aug 24 2005 4:05PM (CT)
ALBANY, N.Y. (AP) - America Online Inc., the world's largest Internet service provider, will pay $1.25 million in penalties and costs and reform some of its customer service practices to settle an investigation by Attorney General Eliot Spitzer's office.
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Bankruptcies in U.S. surge to record high
Aug 24 2005 4:02PM (CT)
WASHINGTON (AP) - The number of bankruptcies in the United States surged to an all-time high in the second quarter of this year as financially troubled consumers scrambled to file before a rewrite of bankruptcy laws takes full effect.
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FTD sues rival ProFlowers over ads
Aug 24 2005 3:59PM (CT)
CHICAGO (AP) - FTD Group Inc. said Wednesday it sued the owner of rival flower delivery service ProFlowers in federal court, denouncing as false and misleading its advertisements claiming that flowers are shipped "direct from the fields."
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Mitsubishi, union OK tentative contract
Aug 24 2005 3:55PM (CT)
NORMAL, Ill. (AP) - Mitsubishi Motors and union leaders at its only U.S. plant have agreed to a tentative contract extension that will aid the troubled automaker's efforts to rebound from a global sales skid fueled by scandals and recalls, company officials said Wednesday.
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Equifax names GE executive Smith CEO
Aug 24 2005 3:45PM (CT)
ATLANTA (AP) - Equifax Inc. named General Electric Co. executive Richard F. Smith chairman and chief executive, succeeding Thomas F. Chapman, who will retire at the end of the year.
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American Express board approves spinoff
Aug 24 2005 3:28PM (CT)
NEW YORK (AP) - American Express Co. announced Wednesday that it will spin off its advisory subsidiary on Sept. 30 by issuing new common stock for the unit.
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Firms buy stakes in Boston exchange venture
Aug 24 2005 2:06PM (CT)
BOSTON (AP) - The Boston Stock Exchange announced an agreement Wednesday with four Wall Street firms to create a new electronic trading network, a move that comes as regional exchanges increasingly try to compete with the two dominant U.S. exchanges.
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2 more banks sued by Parmalat administrator
Aug 24 2005 1:13PM (CT)
ROME (AP) - Parmalat Finanziaria's SPA's bankruptcy administrator has sued two more banks, Deutsche Bank AG and UBS, as part of his attempts to turn around the Italian juice and dairy company after it nearly collapsed in a fraud scandal in 2003.
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Former Hollinger exec pleads not guilty
Aug 24 2005 1:06PM (CT)
CHICAGO (AP) - A former executive of the company that owns the Chicago Sun-Times pleaded not guilty Wednesday to charges that he participated in a scheme to wrongfully divert $32 million in company funds.
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Former Hewlett-Packard CEO to write book
Aug 24 2005 12:54PM (CT)
NEW YORK (AP) - Carly Fiorina, the Hewlett-Packard Co. CEO deposed last winter for failing to deliver enough benefits from the company's acquisition of Compaq Computer Corp., is writing a book about her career.
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Gate Gourmet postpones talks with union
Aug 24 2005 12:51PM (CT)
LONDON (AP) - Gate Gourmet Inc., the U.S. company that provides in-flight meals for British Airways PLC, postponed talks Wednesday with a union on solving a labor dispute that is key to the cash-strapped caterer signing a new deal with the airline.
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TVA reports $15 million loss in 3Q
Aug 24 2005 12:14PM (CT)
KNOXVILLE, Tenn. (AP) - The Tennessee Valley Authority on Wednesday reported a $15 million loss in its fiscal third quarter as the high cost of coal and natural gas undercut an increase in power sales.
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EU calls for urgent solution on textiles
Aug 24 2005 11:45AM (CT)
BRUSSELS, Belgium (AP) - European Union countries agreed Wednesday on the need for quick resolution of a textile-import dispute with China that threatens deliveries of autumn and winter clothing.
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Swatch posts profit gain on sales growth
Aug 24 2005 11:41AM (CT)
BIEL, Switzerland (AP) - The world's largest watchmaker, Swatch Group AG, on Wednesday said first-half net profit surged 21 percent on strong sales growth.
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Enterprise GP, Ready Mix rise in IPOs
Aug 24 2005 11:35AM (CT)
WASHINGTON (AP) - Two initial public offerings received warm welcomes from investors in their first day in the market Wednesday.
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China sets up co. to handle bank assets
Aug 24 2005 9:11AM (CT)
SHANGHAI, China (AP) - China has set up a new management company to handle nonperforming assets of the People's Bank of China, the country's central bank, the government said Wednesday.
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Chinese stocks surge as reforms advance
Aug 24 2005 8:26AM (CT)
SHANGHAI, China (AP) - Chinese share prices surged Wednesday after the government issued new market guidelines and pledged to push ahead with shareholding reforms.
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BHP Billiton announces record yearly profit
Aug 24 2005 7:55AM (CT)
SYDNEY, Australia (AP) - BHP Billiton, the world's largest mining company, on Wednesday said its full-year net profit rose 89 percent and set a new corporate record in Australia, but its stock fell as the market was disappointed the company did not return more cash to investors and digested predictions that commodity prices would fall from their highs.
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Hyundai workers to stage partial strike
Aug 24 2005 7:13AM (CT)
SEOUL, South Korea (AP) - Unionized workers at Hyundai Motor Co., South Korea's biggest automaker, will stage a partial strike for two days to seek higher wages and better working conditions, the company's union said Wednesday.
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PetroChina says first-half net profit up
Aug 24 2005 6:54AM (CT)
HONG KONG (AP) - PetroChina Co., a subsidiary of China's largest oil company, said Wednesday its first-half net profit rose 36 percent, spurred by higher oil prices.
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Group cuts British economy growth forecasts
Aug 24 2005 6:47AM (CT)
LONDON (AP) - Britain's leading employers' association slashed its 2005 growth forecast for the economy Wednesday, blaming slower consumer spending and high oil prices.
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BHP Billiton announces record profit
Aug 24 2005 4:24AM (CT)
SYDNEY, Australia (AP) - Anglo-Australian resources group BHP Billiton announced record full-year net profit of $6.398 billion, up 89.3 percent from $3.379 billion a year earlier, based on strong demand from China and soaring prices for its raw materials.
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More city dwellers keeping gardens
Aug 24 2005 4:16AM (CT)
PASADENA, Calif. (AP) - A divorced father struggling to make ends meet, Jules Dervaes decided to grow fruits and vegetables to save money.
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Jamaica signs on to Venezuela's oil plan
Aug 24 2005 3:45AM (CT)
MONTEGO BAY, Jamaica (AP) - Jamaica became the first Caribbean nation to finalize an agreement with Venezuela on a new plan for the South American nation to supply oil to countries throughout the region at below-market prices.
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Ex-Kmart CEO, CFO face SEC accusations
Aug 24 2005 3:32AM (CT)
DETROIT (AP) - The Securities and Exchange Commission on Tuesday filed civil charges against two former Kmart executives, accusing them of making "materially false and misleading" disclosures to shareholders before the retailer's 2002 bankruptcy filing.
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Rename your town, get free satellite TV
Aug 24 2005 12:47AM (CT)
DENVER (AP) - The nation's No. 2 satellite television provider wants to dish out free service any town willing to rename itself "Dish."
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