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Oil prices jump above $65 a barrel
Sep 8 2005 11:32PM (CT)
SINGAPORE (AP) - The price of crude hurtled past $65 a barrel Friday, after the Department of Energy said energy costs in the United States for the upcoming winter would be the highest in a decade. Meanwhile, Energy Secretary Sam Bodman said at least four refineries along the Gulf Coast shut down by Hurricane Katrina would remain off-line for months.
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Rating agency eyes La., Miss. debt
Sep 8 2005 11:27PM (CT)
NEW YORK (AP) - The floods and damage of Hurricane Katrina have brought into question how state and local governments in Louisiana and Mississippi will be able to pay investors holding their debt because many of their income sources _ taxes from businesses and their inhabitants _ have been disrupted.
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Pacific Rim officials discuss oil prices
Sep 8 2005 11:12PM (CT)
SEOGWIPO, South Korea (AP) - Pacific Rim finance officials said sustained high energy prices are a risk to economic growth in the region and called for more investment in oil production and refining capacity, stepped up conservation efforts and the development of renewable energy sources.
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Union official: Northwest seeks layoffs
Sep 8 2005 10:38PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. wants to lay off roughly two-thirds of its mechanics and is seeking concessions worth $203 million under its latest proposal to the striking mechanics union, a union local president said Thursday.
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Japanese stocks rise, dollar higher
Sep 8 2005 10:36PM (CT)
TOKYO (AP) - Japanese stocks edged higher Friday ahead of weekend parliamentary elections, with the market anticipating a victory for Prime Minister Junichiro Koizumi and his ruling party. The dollar rose against the yen and euro.
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Frontier assessing other La. sites
Sep 8 2005 10:27PM (CT)
DENVER (AP) - Frontier Airlines Inc. may begin hunting a new destination in Louisiana because the airport in hurricane-devastated New Orleans is closed indefinitely, its chief executive said Thursday.
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59 Hawaii small businesses got 9/11 loans
Sep 8 2005 10:25PM (CT)
HONOLULU (AP) - The financial fallout from the Sept. 11, 2001, terrorist attacks even reached the remote Hawaiian Islands, thousands of miles away from the dust and screams at Ground Zero.
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Mulally: Boeing, Machinists $1B apart
Sep 8 2005 10:04PM (CT)
SEATTLE (AP) - The head of Boeing Co.'s commercial airplane operations says the company and the Machinists Union were $1 billion apart when more than 18,000 workers hit the picket lines Sept. 2, according to an internal memo to company executives.
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Shares of eBay dip after buyout reports
Sep 8 2005 9:48PM (CT)
SAN FRANCISCO (AP) - Shares of eBay Inc. fell 3.8 percent Thursday after published reports said the Web auction leader was in talks to buy Net telephony phenomenon Skype Technologies SA, a prospect some analysts found illogical.
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IRS program converts vacation to donation
Sep 8 2005 9:40PM (CT)
WASHINGTON (AP) - The Internal Revenue Service on Thursday announced a program that encourages workers to give up unused vacation time and sick days and turn them into charitable contributions to aid Hurricane Katrina victims.
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Intel tightens third-quarter forecast
Sep 8 2005 9:34PM (CT)
SAN JOSE, Calif. (AP) - Citing continued demand for the chips that power notebook computers, Intel Corp. tightened the range of its third-quarter revenue forecast Thursday but kept the midpoint unchanged at $9.9 billion.
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Chevron, Gazprom win natural gas blocks
Sep 8 2005 7:41PM (CT)
CARACAS, Venezuela (AP) - Venezuela's government sold licenses to exploit three offshore natural gas blocks on Thursday, assigning two of them to Russian oil firm OAO Gazprom and one to Chevron Corp.
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Ford nearing sale of its Hertz division
Sep 8 2005 7:09PM (CT)
DETROIT (AP) - Ford Motor Co. is near a deal to sell its Hertz Corp. rental-car division, a move that would help the struggling automaker raise cash, two executives familiar with the negotiations said Thursday.
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Small firms got Sept. 11-related loans
Sep 8 2005 7:05PM (CT)
NEWARK, N.J. (AP) - Marina operator Joseph Palmisano said he is not sure if the terrorist attacks affected his business, but he knows that the $810,000 federal loan he got afterward helped him buy out his partner.
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AP: 9/11 loans wind up far from Manhattan
Sep 8 2005 7:04PM (CT)
CHURCHVILLE, N.Y. (AP) - Richard Parsons Jr., a veterinarian in a country suburb 280 miles from ground zero in Manhattan, felt the ripple effects of Sept. 11, 2001, about a year later. It almost put him out of business.
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Most banks in stricken areas operating
Sep 8 2005 6:52PM (CT)
WASHINGTON (AP) - Most of the 280 banks and savings and loans in hurricane-stricken areas have reopened branches and are operating normally again, and they're not expected to have financial problems in the long term, regulators said Thursday.
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More than 1,500 Fla. business got loans
Sep 8 2005 6:36PM (CT)
MIAMI (AP) - Leslie Bair says she had no inkling that the government loan she got to buy a Florida recreational vehicle campground came from money set aside for businesses to recover from the Sept. 11 terrorist attacks.
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Ill. vet, funeral homes get 9/11 loans
Sep 8 2005 6:19PM (CT)
SPRINGFIELD, Ill. (AP) - Loves Park veterinarian Sharon Schamberger bought land and built a new clinic last year after she got approval for a $1.5 million federal loan.
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Skilling, Lay allege case misconduct
Sep 8 2005 6:15PM (CT)
HOUSTON (AP) - Lawyers for Enron Corp. founder Kenneth Lay and former CEO Jeffrey Skilling say "deliberate, systematic prosecutorial misconduct" has choked their efforts to prepare for trial in January.
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Money funds rose in latest week
Sep 8 2005 6:14PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds rose by $5.44 billion in the latest week to $816.57 billion, the Investment Company Institute said Thursday.
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Business at smaller ports picking up
Sep 8 2005 5:59PM (CT)
RALEIGH, N.C. (AP) - The docks in Morehead City are booming this week, as longshoremen unload twice the amount of rubber that normally passes through the port. The same is true at the Port of Pensacola in Florida, where cargo traffic has jumped by about 60 percent in the days since Hurricane Katrina and companies are calling to see how much more steel, lumber and other products it can handle.
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10,000 Katrina-linked jobless claims filed
Sep 8 2005 5:56PM (CT)
WASHINGTON (AP) - An estimated 10,000 workers who lost their jobs because of Hurricane Katrina filed for unemployment benefits last week, the first wave of what is expected to be hundreds of thousands of displaced workers seeking benefits.
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Merck blocks ethics expert at hearing
Sep 8 2005 5:51PM (CT)
ATLANTIC CITY, N.J. (AP) - A New Jersey judge agreed Thursday to bar an expert on business ethics from testifying on behalf of a man who blames his heart attack on the painkiller Vioxx.
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Alaska hunting guides get terrorism loans
Sep 8 2005 5:37PM (CT)
JUNEAU, Alaska (AP) - Big-game hunting in Alaska is about as far removed from the terrorist attacks of Sept. 11, 2001, as Two Rivers is from New York.
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Biogen Idec to cut 17 pct. of work force
Sep 8 2005 5:36PM (CT)
BOSTON (AP) - Drug maker Biogen Idec Inc. on Thursday said it will lay off 650 workers as part of a plan to reduce annual expenses by $200 million to $300 million and invest the savings to boost development of experimental drugs.
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Lampert takes hands-on role at Sears
Sep 8 2005 5:15PM (CT)
CHICAGO (AP) - Hedge-fund wizard Edward Lampert is taking on a startling new role at Sears Holdings Corp.: chief marketer and merchandiser.
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Wisconsin cos. benefited from 9/11 loans
Sep 8 2005 5:11PM (CT)
WASHINGTON (AP) - About three-dozen Wisconsin businesses were approved for economic injury loans after Sept. 11, and hundreds more were approved for similar loans without necessarily knowing the money was tied to Sept. 11 recovery efforts, an Associated Press review has found.
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France considering 'special tax' on oil
Sep 8 2005 5:00PM (CT)
PARIS (AP) - French Finance Minister Thierry Breton said Thursday he was considering asking oil companies to lower their prices at the pump and imposing a "special tax" on them to ease the burden of surging prices on consumers.
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Delta completes sale of feeder carrier
Sep 8 2005 4:59PM (CT)
ATLANTA (AP) - Delta Air Lines Inc. said Thursday it has completed its $425 million sale of feeder carrier Atlantic Southeast Airlines Inc. to SkyWest Inc.
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CAW union picks Ford as target in talks
Sep 8 2005 4:58PM (CT)
TORONTO (AP) - The Canadian Auto Workers union said Thursday it will try to negotiate a master contract with Ford Motor Co. by next week and then ask other U.S. automakers to match those terms.
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Ford exec eyes profitability changes
Sep 8 2005 4:54PM (CT)
DEARBORN, Mich. (AP) - Ford Motor Co., which is dealing with a profit slump, announced a series of executive changes on Thursday aimed at restoring profitability to its North American automotive operations.
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NYSE postpones Life Sciences listing
Sep 8 2005 4:51PM (CT)
NEW YORK (AP) - Executives of Life Sciences Research Inc., a medical research firm frequently targeted by animal rights activists, were having breakfast in the ornate dining room of the New York Stock Exchange on Wednesday, excited about their new listing on the Big Board.
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Thursday's commodities roundup
Sep 8 2005 4:45PM (CT)
NEW YORK (AP) - Oil prices ended higher for the first time this week Thursday, as early selling sparked by a widely expected inventory decline gave way to last-minute buying triggered by word of a decline in Gulf of Mexico output.
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New Orleans coffee not damaged by Katrina
Sep 8 2005 4:43PM (CT)
NEW YORK (AP) - The 700,000 bags of coffee stored in New Orleans warehouses operated by Port Cargo Service Inc. weren't damaged by Hurricane Katrina, the company said Thursday.
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Yellow Roadway cuts guidance on damage
Sep 8 2005 4:34PM (CT)
OVERLAND PARK, Kan. (AP) - Transportation company Yellow Roadway Corp. lowered its guidance for the quarter on Thursday, blaming disruptions caused by Hurricane Katrina and problems integrating new procedures at its Roadway Express division.
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N.C. businesses surprised by 9-11 links
Sep 8 2005 4:30PM (CT)
RALEIGH, N.C. (AP) - John Storm worked within sight of the Pentagon when a terrorist-piloted airplane smashed into the nation's military headquarters on Sept. 11, 2001.
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Iowa businesses benefit from 9/11 loans
Sep 8 2005 4:29PM (CT)
DES MOINES, Iowa (AP) - A hair salon, a fitness center, a liquor store and a religious bookstore were among the Iowa enterprises given federal loans meant to aid small businesses affected by the Sept. 11, 2001, terrorist attacks.
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Most in Minnesota not aware of loan ties
Sep 8 2005 4:27PM (CT)
MINNEAPOLIS (AP) - In 2002, Steve Brehm's company was in a slump. The Berry Coffee Company, which he started out of the back of a station wagon more than two decades earlier, faced declining orders for the coffee, other drinks and office supplies it delivered to offices around the Twin Cities.
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Tennesseans say they needed federal loans
Sep 8 2005 4:26PM (CT)
KNOXVILLE, Tenn. (AP) - Businesswoman Carol Ann Norton says she needed a federal loan intended to help merchants recover from the Sept. 11 terrorist attacks, even if the attacks had little bearing on her card shop.
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Caremark pays $137.5M to settle case
Sep 8 2005 4:25PM (CT)
NASHVILLE, Tenn. (AP) - Pharmacy benefits manager Caremark and the Justice Department agreed Thursday to a $137.5 million settlement of lawsuits originally filed by whistleblowers claiming a predecessor company received kickbacks affecting several federal health care programs.
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Bank of America names new CFO
Sep 8 2005 4:16PM (CT)
CHARLOTTE, N.C. (AP) - Bank of America Corp. named Alvaro de Molina its new chief financial officer Thursday to succeed Marc Oken, who announced his retirement after 16 years with the Charlotte-based bank.
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Safety violations alleged against American
Sep 8 2005 4:12PM (CT)
NEW YORK (AP) - American Airlines put its passengers at risk and violated multiple federal air safety regulations in 2003 by allowing one of its jets to fly with a leaky fuel tank, according to a civil complaint filed by the U.S. attorney's office in Brooklyn.
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Lawyers appeal decision in Ovitz case
Sep 8 2005 4:08PM (CT)
DOVER, Del. (AP) - Attorneys representing stockholders of the Walt Disney Co. are appealing a Delaware judge's ruling that Disney board members did not violate their duties or waste company resources in the hiring and firing of former Hollywood superagent Michael Ovitz.
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Wyo. recipients unknowingly got 9/11 loans
Sep 8 2005 3:43PM (CT)
CHEYENNE, Wyo. (AP) - Dan Klassen might not have been able to start his business without the Small Business Administration. The SBA-backed loan he received from Wells Fargo _ $158,500 _ helped him buy the equipment he needed to get Casper-based Optimal Air Testing Services off the ground.
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Gillette CEO defends P&G deal
Sep 8 2005 3:40PM (CT)
BOSTON (AP) - Gillette Co.'s top executive on Thursday responded to months of criticism of his company's pending acquisition by Procter & Gamble Co., calling complaints about the deal's price and his compensation unjustified and symptomatic of growing public distrust of big business.
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Banks asked to return Katrina mortgages
Sep 8 2005 3:32PM (CT)
NEW YORK (AP) - In what may be a first for the U.S. housing market, banks are being encouraged to return the most recent mortgage loan payments from people displaced by Hurricane Katrina.
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Most banks in stricken areas operating
Sep 8 2005 3:17PM (CT)
WASHINGTON (AP) - Most of the 280 banks and savings and loans in hurricane-stricken areas have reopened branches and are operating normally again, and they're not expected to have financial problems in the long term, regulators said Thursday.
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Montana cos. awarded $13.3M in 9/11 loans
Sep 8 2005 3:13PM (CT)
HELENA (AP) - Forty-three Montana companies, including a Great Falls jewelry store, a Kalispell engine rebuilder and an aerial crop sprayer in Lewistown, were approved for $13.3 million in federal disaster recovery loans stemming from the Sept. 11, 2001, terrorist attacks, an Associated Press review of U.S. Small Business Administration figures show.
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Montana cos. awarded $13.3M in 9/11 loans
Sep 8 2005 3:11PM (CT)
HELENA (AP) - Forty-three Montana companies, including a Great Falls jewelry store, a Kalispell engine rebuilder and an aerial crop sprayer in Lewistown, were approved for $13.3 million in federal disaster recovery loans stemming from the Sept. 11, 2001, terrorist attacks, an Associated Press review of U.S. Small Business Administration figures show.
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Okla. businesses benefit from 9/11 loans
Sep 8 2005 2:54PM (CT)
OKLAHOMA CITY (AP) - A federal loan program created to help businesses recover from the Sept. 11, 2001, terror attacks has benefited a wide range of Oklahoma businesses, from restaurants to aircraft maintenance facilities, construction supply firms to makeup shops.
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Banks asked to return Katrina mortgages
Sep 8 2005 2:47PM (CT)
NEW YORK (AP) - In what may be a first for the U.S. housing market, banks are being encouraged to return the most recent mortgage loan payments from people displaced by Hurricane Katrina.
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Ex-Qwest exec lawyer says others involved
Sep 8 2005 2:30PM (CT)
DENVER (AP) - An attorney for a former Qwest executive charged with fraud and money laundering said in a court filing that others in the company engaged in the same conduct alleged in the indictment, and that the company authorized it.
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9/11 loans funded Pa. donuts, bowling
Sep 8 2005 2:12PM (CT)
HARRISBURG, Pa. (AP) - In the name of helping businesses hurt by the Sept. 11, 2001, terrorist attacks, the federal government approved nearly $111 million worth of loan guarantees and low-interest loans for a motley mix of Pennsylvania enterprises, including doughnut shops, a bowling alley, an exercise gym, a flour mill and a tree nursery.
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9/11 loans to unaffected Ark. businesses
Sep 8 2005 2:10PM (CT)
LITTLE ROCK (AP) - In mid-2002 Brian Skaggs was just starting a new venture, building a car lube shop in Rogers, when he received a $1.1 million loan from the U.S. Small Business Administration.
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AP: 300 Ga. businesses got 9/11 loans
Sep 8 2005 2:10PM (CT)
ATLANTA (AP) - Janice Herrington's day care center in Stockbridge wasn't affected by the terrorist attacks hundreds of miles away in New York and Washington on Sept. 11, 2001. But like hundreds of other Georgia business owners, and thousands around the nation, she was able to secure a government-backed loan through a federal program for small businesses hurt by the attacks.
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9/11 loans to unaffected Ark. businesses
Sep 8 2005 2:09PM (CT)
LITTLE ROCK (AP) - In mid-2002 Brian Skaggs was just starting a new venture, building a car lube shop in Rogers, when he received a $1.1 million loan from the U.S. Small Business Administration.
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Delta, AirTran to resume flights to Miss.
Sep 8 2005 2:06PM (CT)
ATLANTA (AP) - Delta Air Lines Inc., the nation's No. 3 carrier, and discount airline AirTran Airways have made plans to resume commercial service to the Gulfport, Miss., airport following the devastation of Hurricane Katrina.
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AP: 300 Ga. businesses got 9/11 loans
Sep 8 2005 1:49PM (CT)
ATLANTA (AP) - Janice Herrington's day care center in Stockbridge wasn't affected by the terrorist attacks hundreds of miles away in New York and Washington on Sept. 11, 2001. But like hundreds of other Georgia business owners, and thousands around the nation, she was able to secure a government-backed loan through a federal program for small businesses hurt by the attacks.
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Lampert takes more active role at Sears
Sep 8 2005 1:42PM (CT)
CHICAGO (AP) - Sears Holdings Corp., the No. 3 U.S. retailer, named Aylwin Lewis to replace Alan Lacy as chief executive on Thursday and announced that Chairman Edward Lampert will take a more active role in the day-to-day management of the company.
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Colo. liquor stores got 9/11 loans
Sep 8 2005 1:37PM (CT)
DENVER (AP) - Jim Pasquariello says he was surprised to learn a $100,000 loan to help run his Aurora bakery came from funds approved by Congress to help businesses recover from the Sept. 11 attacks. Eric Kaplan said he had no idea the $130,000 line of credit for his Denver-area footwear stores came from the same program.
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Colo. liquor stores got 9/11 loans
Sep 8 2005 1:32PM (CT)
DENVER (AP) - Jim Pasquariello says he was surprised to learn a $100,000 loan to help run his Aurora bakery came from funds approved by Congress to help businesses recover from the Sept. 11 attacks. Eric Kaplan said he had no idea the $130,000 line of credit for his Denver-area footwear stores came from the same program.
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W. Va. governor to halt '06 gas-tax hike
Sep 8 2005 1:03PM (CT)
CHARLESTON, W.Va. (AP) - West Virginia Gov. Joe Manchin pledged Thursday to halt his state's projected hike in gasoline taxes for one year, the latest of many measures being discussed in statehouses across the country in an attempt to ease the effects of record-high gas prices.
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Katrina may cause downgrade in bonds
Sep 8 2005 1:02PM (CT)
NEW YORK (AP) - Moody's Investors Service Thursday said devastation from Hurricane Katrina could lead it to downgrade almost $6 billion in debt issued by the states of Mississippi and Louisiana.
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Sept. 11 SBA loans reached South Dakota
Sep 8 2005 12:20PM (CT)
SIOUX FALLS, S.D. (AP) - South Dakota companies far removed from New York or Washington were approved for nearly $5 million in loans set aside for companies affected by the Sept. 11 terrorist attacks, The Associated Press has found.
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Justice Dept. sues realtor group
Sep 8 2005 12:18PM (CT)
WASHINGTON (AP) - The Justice Department sued the National Association of Realtors on Thursday, claiming it unfairly limits competition by allowing real estate agents to withhold home listings from Internet-based brokers.
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W.Va. biz owners confused by 9/11 loans
Sep 8 2005 12:17PM (CT)
CHARLESTON, W.Va. (AP) - The Small Business Administration approved more than $9 million in loans to 32 West Virginia businesses in the wake of Sept. 11, but several business owners contacted by The Associated Press said they were unaware their loans were related to terrorism recovery and some said they never received any money.
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Utah businesses got terror recovery loans
Sep 8 2005 12:16PM (CT)
SALT LAKE CITY (AP) - Nick Huntsman was grateful for his Small Business Administration loan for companies pummeled by the Sept. 11 terrorist attacks.
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Program aided many far from 9/11 site
Sep 8 2005 12:14PM (CT)
ANNAPOLIS, Md. (AP) - In the weeks following the terrorist attacks on the World Trade Center and the Pentagon, when Donna Stevenson's business suffered as funds for consulting contracts dried up, the federal government stepped in with a loan to help tide her over.
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Post-attacks loans helped Del. businesses
Sep 8 2005 12:12PM (CT)
DOVER, Del. (AP) - When Angelo Manerchia went searching for a loan to refinance his automobile shop in Wilmington in 2002, he wasn't thinking about the Sept. 11 terrorist attacks the year before.
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Loans helped some, not others in R.I.
Sep 8 2005 12:11PM (CT)
PROVIDENCE, R.I. (AP) - Before the terrorist attacks on Sept. 11, 2001, Ted Grove's family had an $8 million business with 90 employees. After the planes hit the World Trade Center, his company's orders dropped 60 percent overnight.
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AP: Airport shop, spa got Ohio 9/11 loans
Sep 8 2005 12:10PM (CT)
COLUMBUS, Ohio (AP) - Low-interest loans meant for Sept. 11 recovery helped an airport convenience store and fledgling video producers, but also a dentist and other business owners who said they didn't know they were receiving terrorism-related aid.
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High oil prices to dominate at EU meeting
Sep 8 2005 12:09PM (CT)
BRUSSELS, Belgium (AP) - The effect of soaring oil prices on Europe's faltering economic recovery will dominate two-day talks starting Friday among European Union finance ministers.
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AP: Airport shop, spa got Ohio 9/11 loans
Sep 8 2005 12:08PM (CT)
COLUMBUS, Ohio (AP) - Low-interest loans meant for Sept. 11 recovery helped an airport convenience store and fledgling video producers, but also a dentist and other business owners who said they didn't know they were receiving terrorism-related aid.
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Coca-Cola Enterprises shares decline
Sep 8 2005 11:36AM (CT)
ST. LOUIS (AP) - The stock of Coca-Cola Enterprises Inc. fell nearly 9 percent Thursday after the distributor of Coca-Cola Co. drinks lowered its earnings estimates for the third quarter and the fiscal year, citing weak sales trends and "unseasonable" weather in Europe.
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India, Britain sign deals on aviation, oil
Sep 8 2005 11:29AM (CT)
NEW DELHI (AP) - The leaders of Britain and India said they had reinforced the strong ties between their nations at talks Thursday, signing deals to increase flights between the countries and boost cooperation between their film and oil industries.
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InBev reports first-half profit of $475.6M
Sep 8 2005 11:11AM (CT)
BRUSSELS, Belgium (AP) - InBev SA, the world's largest brewer by volume, on Thursday reported a 382 million euros ($475.6 million) first-half profit, with rising sales in South America, Russia and Ukraine offsetting lackluster results in Western Europe and North America.
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Austria to be production site for new Jeep
Sep 8 2005 11:08AM (CT)
FRANKFURT, Germany (AP) - Austria will be the production site for the new Jeep Commander sport utility vehicle for markets outside North America starting next year, DaimlerChrysler AG said Thursday.
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Rates on 30-year mortgages unchanged
Sep 8 2005 11:01AM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages, after declining for three weeks, were unchanged this week while other types of mortgages dipped lower on expectations of slower economic growth in coming months.
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News Corp. buys online game business
Sep 8 2005 10:50AM (CT)
NEW YORK (AP) - Rupert Murdoch's News Corp. made its latest acquisition in the Internet sector Thursday, agreeing to pay $650 million in cash for online video-game company IGN Entertainment Inc.
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Schroeder, Putin complete pipeline deal
Sep 8 2005 10:21AM (CT)
BERLIN (AP) - German Chancellor Gerhard Schroeder and Russian President Vladimir Putin sealed an agreement Thursday to build a Baltic Sea gas pipeline aimed at boosting Russia's gas sales to Europe and securing uninterrupted energy supplies for Germany.
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EU office warns gov'ts against tax cuts
Sep 8 2005 10:04AM (CT)
BRUSSELS, Belgium (AP) - The EU head office warned European governments Thursday against tax cuts or handouts to soothe the impact of high oil prices.
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Court to extradite Yukos-linked banker
Sep 8 2005 10:03AM (CT)
VILNIUS, Lithuania (AP) - A Lithuanian court gave Russian prosecutors the go-ahead on Thursday to extradite a Russian banker tied to bankrupt oil giant Yukos to face criminal charges.
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Rosneft signs record $7.5B loan with banks
Sep 8 2005 9:51AM (CT)
MOSCOW (AP) - State oil company Rosneft signed a $7.5 billion loan agreement Thursday with a syndicate of western banks, the largest credit line ever extended to a Russian company.
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CNOOC Corp. signs Caspian exploration deal
Sep 8 2005 9:47AM (CT)
HONG KONG (AP) - China National Offshore Oil Corp., the country's largest offshore oil producer, said it will explore oil and gas offshore Kazakhstan with China National Petroleum Corp. in the first overseas tie-up by the two mainland oil giants.
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Taiwan Business Bank union strikes
Sep 8 2005 9:34AM (CT)
TAIPEI, Taiwan (AP) - Employees of the state-run Taiwan Business Bank went on strike Thursday to protest privatization plans which they fear could result in job losses.
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Regal Hotels pulls out of Macau venture
Sep 8 2005 9:31AM (CT)
HONG KONG (AP) - Regal Hotels International Holdings Ltd. said it has pulled out of a joint venture in Macau with U.S. casino operator Las Vegas Sands Corp., opting to develop the hotel and casino project alone.
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Zurich Financial to pay $100M for floods
Sep 8 2005 9:27AM (CT)
ZURICH, Switzerland (AP) - Swiss insurer Zurich Financial Services AG said Thursday it expects to pay about $100 million for recent Swiss, German and Austrian floods, but that it was too early to put a figure on claims arising from Hurricane Katrina in the United States.
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Wyeth Pharmaceuticals opens Ireland plant
Sep 8 2005 9:24AM (CT)
DUBLIN, Ireland (AP) - Wyeth Co. officially opened a $2 billion Irish production facility Thursday, a move that will make the U.S. company the biggest pharmaceutical employer in Ireland.
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10 percent of Indian population owns phones
Sep 8 2005 9:12AM (CT)
BANGALORE, India (AP) - Over 10 percent of Indians now own phones, with the combined subscriber base for fixed lines and mobile phones reaching 110.01 million in a billion-plus population, India's telecommunication regulator said Thursday.
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Australia introduces laws to sell Telstra
Sep 8 2005 9:08AM (CT)
CANBERRA, Australia (AP) - The government introduced legislation Thursday to allow it to sell former telecommunications monopoly Telstra Corp. and provide multibillion-dollar benefits for rural customers who fear that the privatization will harm their phone services.
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Hong Kong Disneyland won't cut capacity
Sep 8 2005 9:07AM (CT)
HONG KONG (AP) - Hong Kong Disneyland said Thursday it won't cut its daily maximum capacity of 30,000 people despite complaints of large crowds and long queues from visitors ahead of its opening.
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EU legal adviser rejects airline complaints
Sep 8 2005 8:57AM (CT)
BRUSSELS, Belgium (AP) - European airlines suffered a setback Thursday in their efforts to overturn new rules forcing them to pay more compensation to passengers whose flights are overbooked, delayed or canceled.
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Adviser rejects Picasso family complaint
Sep 8 2005 8:48AM (CT)
BRUSSELS, Belgium (AP) - DaimlerChrysler AG won legal backing at the European Union's high court Thursday in a trademark tussle with the heirs of Pablo Picasso.
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Lawyer files claim against DaimlerChrysler
Sep 8 2005 8:45AM (CT)
FRANKFURT, Germany (AP) - A German lawyer filed a claim Thursday for damages against automaker DaimlerChrysler AG over an investigation of insider trading at the company.
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Lafarge first-half profit dips 18 percent
Sep 8 2005 8:05AM (CT)
PARIS (AP) - Lafarge SA, one of the world's largest cement and building materials makers, posted an 18 percent drop in first-half net profit Thursday, blaming a German construction slump and lower cement prices in several countries. Its shares fell more than 7 percent.
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InBev reports first-half profit of $475.6M
Sep 8 2005 7:55AM (CT)
BRUSSELS, Belgium (AP) - InBev SA, the world's largest brewer by volume, Thursday posted a 382 million euro ($475.6 million) profit for the first half of the year, with rising sales in South America, Russia and Ukraine offsetting a lackluster performance in Western Europe.
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Hyundai labor, management in tentative deal
Sep 8 2005 7:38AM (CT)
SEOUL, South Korea (AP) - The labor and management at Hyundai Motor Co. reached a tentative agreement Thursday to end a two-week-old partial strike over higher wages and better working conditions, South Korea's largest automaker said.
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Natural gas prices may leap in fall
Sep 8 2005 6:52AM (CT)
WASHINGTON (AP) - Natural gas prices could increase as much as 71 percent in part of the United States this fall, raising the prospect of higher home heating costs this winter, the Energy Department reports.
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British Airways raises fuel surcharge
Sep 8 2005 6:48AM (CT)
LONDON (AP) - British Airways said Thursday it was raising its fuel surcharge on long flights to 30 pounds ($55), an increase of 6 pounds ($11) per trip.
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Germany's trade surplus narrows in July
Sep 8 2005 6:47AM (CT)
FRANKFURT, Germany (AP) - Germany's trade surplus narrowed during July as import gains outpaced exports gains, according to a report Thursday.
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Mirant announces bankruptcy agreement
Sep 8 2005 6:41AM (CT)
ATLANTA (AP) - Mirant Corp. has reached an agreement with shareholders and other creditors on the terms of how the energy company will emerge from bankruptcy protection.
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Skype declines to comment on eBay report
Sep 8 2005 6:12AM (CT)
STOCKHOLM, Sweden (AP) - A spokeswoman for Internet telephony company Skype declined to comment Thursday on a report that eBay Inc. was in talks to buy the company.
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United files plan to leave bankruptcy
Sep 8 2005 5:42AM (CT)
CHICAGO (AP) - United Airlines forecasts a nearly $1 billion operating profit in 2006 after five straight years of losses, but it is counting on oil prices being significantly once it leaves bankruptcy next February.
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Ill. high school teaching grape growing
Sep 8 2005 5:40AM (CT)
VALMEYER, Ill. (AP) - The few rows of grapes planted about six years ago near the high school's greenhouse in this southern Illinois town used to give Howard Heavner and his students fits.
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Ford, Toyota recall nearly 5M trucks, SUVs
Sep 8 2005 5:32AM (CT)
WASHINGTON (AP) - Ford and Toyota, two of the world's largest automakers, on Wednesday recalled nearly 5 million pickup trucks and sport utility vehicles in separate moves to respond to concerns of engine fires and problems with the power-steering system.
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S. Korea: World must be ready to aid North
Sep 8 2005 4:57AM (CT)
SEOGWIPO, South Korea (AP) - The international community must be ready to help North Korea economically once the issue of the communist country's nuclear issue is settled, South Korean Deputy Prime Minister Han Duck-soo said.
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Bank of China: No comment on probe report
Sep 8 2005 2:46AM (CT)
SHANGHAI, China (AP) - The Bank of China declined to comment Thursday on a report it is being investigated by U.S. authorities for alleged connections to an illicit North Korean network believed to raise funds for Pyongyang's nuclear program.
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Honda develops airbags for motorcycles
Sep 8 2005 1:48AM (CT)
TOKYO (AP) - Honda Motor Co. has developed airbags for motorcycles that the Japanese automaker says is the world's first for production motorcycles.
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Indonesia may cut fuel subsidies
Sep 8 2005 1:48AM (CT)
SEOGWIPO, South Korea (AP) - With oil prices soaring, Indonesian lawmakers are considering cutting fuel subsidies by between 50 to 60 percent in October or November, an Indonesian government official said Thursday.
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Inventor working hard on video headstones
Sep 8 2005 12:19AM (CT)
MIAMI (AP) - Video screens have shown up all over in recent years _ cell phones, bathrooms, car head rests, subway cars, even elevators. Next up: a solar-powered video panel embedded in a tombstone that plays a clip reminiscent of "This Is Your Life."
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China's economy expected to grow
Sep 8 2005 12:14AM (CT)
BEIJING (AP) - China's economy is expected to grow around 9 percent this year _ slower than recent torrid growth _ as the government works to restrain blind investment, Vice Premier Zeng Peiyan said according to state media reports Thursday.
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Developing Asian nations expected to grow
Sep 8 2005 12:13AM (CT)
MANILA, Philippines (AP) - Developing economies in Asia are expected to grow by an average of 6.6 percent this year, above an earlier forecast of 6.5 percent, spurred by faster-than-expected expansion in China and a strong showing by India and the rest of South Asia, the Asian Development Bank said Thursday.
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Restoration Hardware shares down 21 pct.
Sep 8 2005 12:10AM (CT)
CHARLOTTE, N.C. (AP) - Investors have put the brakes on shares of Restoration Hardware Inc., despite a four-year-old overhaul of the housewares chain.
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