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Feds seize thousands of fake Nike shoes
Sep 5 2006 11:33PM (CT)
TUCSON, Ariz. (AP) - Federal agents have seized thousands of pairs of fake Nike sneakers and charged six men in what is being called one of the largest smuggling rings in recent history.
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Boeing exec Allan Mulally named Ford CEO
Sep 5 2006 11:29PM (CT)
DEARBORN, Mich. (AP) - When Bill Ford decided that his family's company needed more leadership than he could offer, he started looking for someone who had successfully fixed a large but troubled manufacturing company.
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Carson to head Boeing Co. airplane unit
Sep 5 2006 11:21PM (CT)
CHICAGO (AP) - Boeing Co. faces another transition at the top following Alan Mulally's unexpected switch from planes to automobiles. But after absorbing two CEO changes in two years without losing momentum, it looks well-positioned to withstand Mulally's departure to run Ford Motor Co.
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Japanese stocks decline; dollar higher
Sep 5 2006 9:11PM (CT)
TOKYO (AP) - Japanese stocks slipped early Wednesday, surrendering gains from two days of advancement led by renewed optimism about the nation's economic prospects. The dollar was higher against the yen.
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Bolivia negotiates oil nationalization
Sep 5 2006 9:11PM (CT)
LA PAZ, Bolivia (AP) - The nationalization of Bolivia's hydrocarbons industry appeared to move forward Tuesday as the government began long-awaited contract negotiations with foreign petroleum companies, and collected $32.3 million in new higher gas royalties.
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U.S., South Korea set free-trade talks
Sep 5 2006 7:52PM (CT)
SEATTLE (AP) - The U.S. and South Korea will begin a third round of free-trade talks, hoping to make progress toward an accord that could be the biggest of its kind for the U.S. since the North American Free Trade Agreement of 1993.
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Senators seek satellite TV probe
Sep 5 2006 7:22PM (CT)
WASHINGTON (AP) - Colorado's two senators have asked the Senate Judiciary Committee to look into an escalating dispute involving the nation's two dominant satellite television companies.
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Geophysique to buy oil surveyor Veritas
Sep 5 2006 6:18PM (CT)
PARIS (AP) - Oil and gas field surveyor Geophysique will buy U.S. rival Veritas for $3.1 billion in cash and stock, the companies announced Tuesday, establishing a major new global player in the booming oil exploration industry.
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Freston out, Dauman in as Viacom's CEO
Sep 5 2006 4:38PM (CT)
NEW YORK (AP) - The board of Viacom Inc., frustrated with the media company's lagging stock price, has ousted Tom Freston as CEO and replaced him with Philippe Dauman, a former Viacom executive and longtime board member. Chairman Sumner Redstone said Tuesday he hopes the new team will be more aggressive and entrepreneurial.
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Home prices rising after 2Q slowdown
Sep 5 2006 4:27PM (CT)
WASHINGTON (AP) - U.S. home prices continued to rise in the second quarter but showed the biggest slowdown in three decades, federal regulators reported Tuesday.
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Vast oil pool tapped in Gulf of Mexico
Sep 5 2006 4:15PM (CT)
WASHINGTON (AP) - A trio of oil companies led by Chevron Corp. has tapped a petroleum pool deep beneath the Gulf of Mexico that could boost the nation's reserves by more than 50 percent.
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Oil prices fall on ample supplies
Sep 5 2006 4:12PM (CT)
NEW YORK (AP) - Crude oil futures fell Tuesday, pulled down by gasoline futures that dropped to a six-month low as the summer driving season came to a close.
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U.S. mogul Wynn opens Macau casino
Sep 5 2006 4:00PM (CT)
MACAU (AP) - Thousands of gamblers crowded into American billionaire Stephen Wynn's new $1.2 billion casino resort on Wednesday in Macau _ the Chinese territory that may soon unseat the Las Vegas Strip as the world's most profitable gambling capital.
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Judge: Delta can eliminate pilot pension
Sep 5 2006 3:58PM (CT)
WHITE PLAINS, N.Y. (AP) - A federal bankruptcy judge on Tuesday approved Delta Air Lines Inc.'s request to terminate its pilots' pension plan.
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IMF Chief: World economic outlook solid
Sep 5 2006 3:44PM (CT)
WASHINGTON (AP) - The global economy is expected to log solid growth this year and next, although elevated energy prices and inflation hover as risks, the chief of the International Monetary Fund said Tuesday.
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Bill Ford steps down from CEO post
Sep 5 2006 3:19PM (CT)
DETROIT (AP) - Ford Motor Co. announced Tuesday that Bill Ford is stepping down as chief executive but will remain chairman of the troubled automaker.
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Car-free life tests commuters' skills
Sep 5 2006 2:28PM (CT)
NEW YORK (AP) - Six years ago, Bruce Wilbur did what most Americans wouldn't dream of: he got rid of his car. And his minivan, too.
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Phelps Dodge, Inco cancel combination
Sep 5 2006 2:15PM (CT)
TORONTO (AP) - Copper producer Phelps Dodge Corp. and Inco Ltd. canceled their takeover agreement on Tuesday, leaving Brazil's Companhia Vale do Rio Doce as the only suitor for the Canadian nickel miner.
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BP appoints ombudsman to hear complaints
Sep 5 2006 1:45PM (CT)
WASHINGTON (AP) - Just days before being summoned to testify at a congressional hearing, British petroleum giant BP has asked a former federal judge to serve as its ombudsman and hear complaints from BP workers in Alaska and elsewhere about the company's operations.
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Retirees, training step into labor gap
Sep 5 2006 11:27AM (CT)
MILWAUKEE (AP) - Antoinette Lucero figured she'd never find a job. Unemployed and on welfare for five years, she wondered who would hire a deaf woman with little training.
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Treasurys slightly lower
Sep 5 2006 11:26AM (CT)
NEW YORK (AP) - U.S. Treasury bond prices were lower midday Tuesday, after a week of hefty price gains and yields that hit multi-month lows.
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Treasurys slightly lower
Sep 5 2006 11:26AM (CT)
NEW YORK (AP) - U.S. Treasury bond prices were lower midday Tuesday, after a week of hefty price gains and yields that hit multi-month lows.
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Mishkin sworn in as member of Fed board
Sep 5 2006 10:22AM (CT)
13 WASHINGTON (AP) - Frederic Mishkin, a former Columbia University professor, was sworn in Tuesday as the newest member of the Federal Reserve.
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Merrill Lynch buys mortgage business
Sep 5 2006 9:09AM (CT)
NEW YORK (AP) - The brokerage Merrill Lynch announced Tuesday that it plans to acquire the mortgage business of Cleveland-based National City Corp. for $1.3 billion.
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Stocks directionless in morning trading
Sep 5 2006 9:07AM (CT)
1 NEW YORK (AP) - Wall Street drifted without direction Tuesday as traders got back to work from a three-day break to find oil prices retreating again but little other data to guide them.
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With NFL on, NBC sports redoes web look
Sep 5 2006 8:57AM (CT)
NEW YORK (AP) - NBC Sports, a fringe player in the online sports market, said Tuesday it redesigned its Web site and bought a leading fantasy sports site to attract more advertising revenue by offering original football-related content and its own fantasy games.
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VW exec says 3,500 workers took buyout
Sep 5 2006 8:01AM (CT)
LONDON (AP) - Volkswagen AG, Europe's biggest automaker, said Tuesday that 3,500 workers in Germany have signed up for severance packages as the company tries to pare down the number of employees and cut costs.
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Sun, Unisys sue South Korea's Hynix
Sep 5 2006 7:45AM (CT)
SEOUL, South Korea (AP) - Sun Microsystems Inc. and Unisys Corp. have filed a U.S. lawsuit against South Korea's Hynix Semiconductor Inc., apparently seeking damages related to a federal probe into price-fixing of memory chips, Hynix said Tuesday.
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China tightens land use rules
Sep 5 2006 7:34AM (CT)
BEIJING (AP) - China's government on Tuesday stepped up controls on land uses in a new effort to cool off an economic boom and threatened to punish local officials who fail to stop improper sales, a state news agency reported.
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Russia agency sues to stop Shell project
Sep 5 2006 6:46AM (CT)
MOSCOW (AP) - Russia's environmental regulator said Tuesday it had filed suit seeking to revoke approval for a $20 billion international oil project led by Royal Dutch Shell on the Pacific island of Sakhalin.
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Bayer expands Shanghai chemicals plant
Sep 5 2006 3:57AM (CT)
CAOJING, China (AP) - Germany's Bayer expanded a massive new chemical plant Tuesday near Shanghai, part of a $1.8 billion integrated facility being built to keep up with soaring demand.
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Finance ministers to meet in Vietnam
Sep 5 2006 3:45AM (CT)
HANOI, Vietnam (AP) - Finance ministers from the Pacific Rim gathering in Vietnam this week are scheduled to discuss reducing global imbalances and steps to combat the financing of weapons of mass destruction, a draft statement showed.
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N.H. hunters aim to kill wily crows
Sep 5 2006 2:05AM (CT)
HOLDERNESS, N.H. (AP) - As the cries of upset crows blare from a tape player, a group of hunters-in-training hunkers in the brush, waiting for the varmint to swoop.
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Report: ICBC may set IPO record
Sep 5 2006 1:19AM (CT)
BEIJING (AP) - China's biggest commercial bank plans to raise up to $19 billion with an initial public offering this year, possibly breaking the record for the world's biggest IPO, a news report said Tuesday.
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Airbus superjumbo jet makes test flight
Sep 5 2006 12:40AM (CT)
PARIS (AP) - The Airbus A380, the world's largest passenger jet, took to the sky with a full load of passengers for the first time Monday, and the European aircraft maker announced further management changes in the wake of costly delays to the $13 billion jet program.
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