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Oil prices fall as driving season ends
Sep 6 2006 11:53PM (CT)
SINGAPORE (AP) - Oil prices fell Thursday after closing at a five-month low the previous day amid easing gasoline demand with the end of the summer driving season.
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EU leaders seek Canadian seal goods ban
Sep 6 2006 10:35PM (CT)
STRASBOURG, France (AP) - European Parliament members issued a declaration Wednesday demanding the European Union ban the import of seal products to protest Canada's seal hunt.
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Groups assess collapse of trade talks
Sep 6 2006 10:15PM (CT)
SAO PAULO, Brazil (AP) - Trade ministers from an influential bloc of 21 emerging market nations head to Rio de Janeiro this weekend to assess why World Trade Organization talks collapsed, and whether negotiations for a global trade treaty can be salvaged.
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Leak probe puts HP's Dunn under scrutiny
Sep 6 2006 10:12PM (CT)
SAN FRANCISCO (AP) - Hewlett-Packard Co. Chairwoman Patricia Dunn is under scrutiny from business and ethics experts after she oversaw an invasive and possibly illegal effort to snoop into the home phone calls of fellow HP board members.
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Intel's cuts not enough for investors
Sep 6 2006 9:25PM (CT)
SAN JOSE, Calif. (AP) - When Intel Corp. Chief Executive Paul Otellini announced an exhaustive review of the company's unprofitable divisions in April, rumors began swirling about scorched-earth job cuts to reverse sinking profits.
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Mulally resisted moving to Ford at first
Sep 6 2006 9:22PM (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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Palm lowers expectations on 1Q revenue
Sep 6 2006 7:00PM (CT)
SAN JOSE, Calif. (AP) - Shares of Palm Inc. fell 6 percent after it warned Wednesday of lower-than-expected revenue in the first quarter due to a decline in retail shipments of its Treo smart phones.
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Feds say they're targeting stock options
Sep 6 2006 6:25PM (CT)
WASHINGTON (AP) - The government is aggressively investigating the suspicious timing of stock options granted to top executives at scores of companies, federal officials said Wednesday.
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Feds seeking to preserve Lay conviction
Sep 6 2006 6:02PM (CT)
HOUSTON (AP) - The Justice Department on Wednesday asked a judge to delay ruling on a request by lawyers for convicted Enron Corp. founder Kenneth Lay's estate to erase his convictions and dismiss the indictment against him because he died before he had appealed.
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Spitzer drops 2 of Greenberg's charges
Sep 6 2006 6:00PM (CT)
ALBANY, N.Y. (AP) - New York Attorney General Eliot Spitzer has dropped two of six civil charges against former American International Group CEO Maurice "Hank" Greenberg and another former executive of the company, a top Spitzer attorney said Wednesday.
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Chrysler recalls Dodge Ram 1500 pickups
Sep 6 2006 5:49PM (CT)
WASHINGTON (AP) - Chrysler said Wednesday it was recalling about 145,000 2006 Dodge Ram 1500 pickups to replace the passenger air bag pack and reprogram the air bag's computer system.
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Mulally must translate lessons to Ford
Sep 6 2006 5:30PM (CT)
DETROIT (AP) - Alan Mulally, the man Ford Motor Co. has tapped to revive its stalled turnaround, helped revolutionize product development at Boeing Co. in part by taking inspiration from the broad, team-based approach Ford used to create the hit Taurus in the 1980s.
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Lucent says it may face SEC enforcement
Sep 6 2006 5:21PM (CT)
NEWARK, N.J. (AP) - Lucent Technologies Inc. on Wednesday said the Securities and Exchange Commission's staff may recommend enforcement action related to an investigation of its Chinese operations under the Foreign Corrupt Practices Act.
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Study cites disparities in refinancing
Sep 6 2006 5:20PM (CT)
WASHINGTON (AP) - Black and Hispanic homeowners were more likely to receive refinancing loans aimed at borrowers with low credit ratings than were whites, according to a nationwide study released Wednesday by the Consumer Federation of America.
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GM plans new products based on fuel cost
Sep 6 2006 5:08PM (CT)
DETROIT (AP) - General Motors Corp. is planning a flexible portfolio of cars and trucks that will change with market demand and the price of gasoline, GM Chairman and CEO Rick Wagoner said Wednesday.
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Merck report absolves managers on Vioxx
Sep 6 2006 5:02PM (CT)
NEW YORK (AP) - Merck & Co.'s board of directors said Wednesday that a 20-month investigation funded by the pharmaceutical company found that senior management acted responsibly in its development and marketing of its now withdrawn pain reliever Vioxx.
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Intel shares fall nearly 3 percent
Sep 6 2006 4:19PM (CT)
SAN JOSE, Calif. (AP) - Shares of Intel Corp. fell nearly 3 percent Wednesday, a day after the world's largest chip maker announced more than 10,000 job cuts that some investors believed were not severe enough.
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GM boosts powertrain warranties for 2007
Sep 6 2006 4:08PM (CT)
DETROIT (AP) - General Motors Corp. has increased the powertrain warranty on all of its 2007 passenger vehicles in an effort to help it sell more autos by boosting its reputation for quality.
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Swedish equity fund buys into Volvo
Sep 6 2006 4:07PM (CT)
STOCKHOLM, Sweden (AP) - A Swedish private equity fund said Wednesday that it has 5 percent of the voting rights in Swedish truck maker Volvo AB and will seek membership on the company's board to force a restructuring.
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Boeing picks Carson to head plane unit
Sep 6 2006 4:05PM (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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Hanesbrands Inc. performs well in debut
Sep 6 2006 3:59PM (CT)
CHICAGO (AP) - A day after Sara Lee Corp. completed the spinoff of its underwear unit, shares in Hanesbrands Inc. rose sharply Wednesday on their first day of trading.
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KeyCorp selling unit branches to UBS
Sep 6 2006 3:56PM (CT)
ZURICH, Switzerland (AP) - Swiss bank UBS AG said it will buy the McDonald Investments financial advisory business from Ohio-based KeyCorp for as much as $280 million to expand its U.S. wealth management business.
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Heineken posts 26-percent rise in profit
Sep 6 2006 3:54PM (CT)
AMSTERDAM, Netherlands (AP) - Dutch brewing company Heineken NV reported a 26 percent rise in first-half profit Wednesday, with strong sales in the Americas and a surge in beer drinking in Europe during the soccer World Cup. It also raised its earnings growth foreecast for the full year.
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PlayStation 3's European release delayed
Sep 6 2006 3:51PM (CT)
TOKYO (AP) - The release of Sony's PlayStation 3 will be delayed in Europe until March because of problems with producing a key component, the executive in charge of the project said Wednesday. The much-awaited update to the popular game console will go on sale in November in the United States and Japan as planned, but fewer units will be available for the launch dates.
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Comcast to add more than 3,000 U.S. jobs
Sep 6 2006 3:40PM (CT)
PHILADELPHIA (AP) - Comcast Corp., the country's largest cable operator, said Wednesday that it will hire more than 3,000 people nationwide by the end of the year to keep pace with the increasing popularity of its bundled package of cable TV, high-speed Internet and digital voice service.
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Planners have tips for their own kids
Sep 6 2006 3:38PM (CT)
NEW YORK (AP) - When 18-year-old Thane Economou headed to college this fall, he had a checking account and a debit card _ and the know-how to use them.
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Fed survey says new signs of a slowdown
Sep 6 2006 3:09PM (CT)
WASHINGTON (AP) - The economy ambled into the fall steadily but unstartlingly, with fresh signs of a slowdown as consumers watched spending more warily.
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Convicted former Wal-Mart executive sues
Sep 6 2006 2:37PM (CT)
BENTONVILLE, Ark. (AP) - A former Wal-Mart executive convicted of wire fraud along with then-vice chairman Thomas Coughlin is suing his former supervisor for emotional distress. Robert E. Hey Jr. filed a lawsuit against Coughlin on Tuesday in Benton County Circuit Court. The lawsuit, which seeks unspecified damages, says Hey was only following orders in a scheme to defraud Wal-Mart.
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Bra straps bootstrap fair-trade business
Sep 6 2006 1:50PM (CT)
AKRON, Ohio (AP) - The tiny beads look delicate: shades of pale pink, blue and green hand strung and sewn together to form dainty straps for lingerie.
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Luxury giant LVMH's profit rises 46 pct
Sep 6 2006 12:59PM (CT)
PARIS (AP) - Luxury goods maker LVMH Moet Hennessy Louis Vuitton SA posted a sharp increase in its first-half earnings Wednesday, helped by more stable international currency markets and strong sales from its wines and spirits, fashion and leather goods and perfumes and cosmetic divisions.
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Vivendi buys BMG Music Publishing
Sep 6 2006 10:16AM (CT)
BERLIN (AP) - Vivendi agreed Wednesday to pay $2.09 billion to acquire the BMG Music Publishing Group from media company Bertelsmann in a deal that will give the French company the world's largest music publishing catalog and songs by artists such as Coldplay and Robbie Williams.
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ADB boosts China growth forecast
Sep 6 2006 9:32AM (CT)
BEIJING (AP) - The Asian Development Bank on Wednesday raised its forecast for China's economic growth this year to 10.4 percent, citing surging investment and exports, and warned of possible dangers to long-term stability.
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WTO warns China on free trade agreements
Sep 6 2006 6:25AM (CT)
SHANGHAI, China (AP) - WTO chief Pascal Lamy on Wednesday warned that China's pursuit of separate bilateral and regional free trade agreements would harm its long-term commercial interests.
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China to audit local pension funds
Sep 6 2006 6:25AM (CT)
SHANGHAI, China (AP) - The government said Wednesday that it plans a nationwide audit of locally managed pension funds amid a widening probe into Shanghai's handling of pension fund investments and land dealings.
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Japan tea seen as next trendy beverage
Sep 6 2006 4:18AM (CT)
WILLOW LAKE, S.D. (AP) - A South Dakota businessman wants to see if barley tea, a popular potable in Japan for centuries, could catch on with Americans.
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Vast oil pool tapped in Gulf of Mexico
Sep 6 2006 2:26AM (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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ADB raises growth forecast for Asia
Sep 6 2006 1:29AM (CT)
MANILA, Philippines (AP) - Economies in developing Asia are expected to expand 7.7 percent this year, higher than the 7.2 percent initially projected, thanks to booming growth in China and India, the Asian Development Bank said Wednesday.
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Report: Japan to make 1st passenger jet
Sep 6 2006 12:11AM (CT)
TOKYO (AP) - The Japanese government is planning to develop the country's first passenger jet in a joint venture with Mitsubishi Heavy Industries Ltd. and subsidize up to 30 percent of the costs, a newspaper reported Wednesday.
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