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Hewlett-Packard chair to step down
Sep 12 2006 11:43PM (CT)
SAN JOSE, Calif. (AP) - Hewlett-Packard reshuffled the leadership of its board of directors amid the scandal surrounding its investigation of internal leaks to the media, but the company's troubles are far from over.
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Japanese stocks rebound, dollar flat
Sep 12 2006 10:30PM (CT)
TOKYO (AP) - Japanese stocks rebounded Wednesday morning following a rally in U.S. markets overnight. The dollar was flat against the yen.
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Ford said to review white-collar plan
Sep 12 2006 7:56PM (CT)
DEARBORN, Mich. (AP) - Ford Motor Co.'s board is expected to review a plan to cut white-collar staffing, benefits and other costs by 30 percent as part of a broader restructuring, according to published report.
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Regulators warn BP about fixing pipeline
Sep 12 2006 6:43PM (CT)
WASHINGTON (AP) - Federal regulators warned BP PLC on Tuesday that it must supply detailed and credible evidence that a temporary fix to resume oil production on Alaska's North Slope can be done without environmental risk.
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Ford to make stability control standard
Sep 12 2006 6:03PM (CT)
WASHINGTON (AP) - Ford Motor Co. will make rollover-reducing technology a standard feature on all new vehicles by the end of 2009, the company said Tuesday in advance of new government rules on the safety technology.
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Bristol-Myers ousts CEO Dolan, Willard
Sep 12 2006 5:54PM (CT)
NEW YORK (AP) - Bristol-Myers Squibb Co. on Tuesday ousted Peter R. Dolan as chief executive at the urging of a federal monitor tasked with ensuring the drug maker's compliance with a deferred-prosecution agreement. In an apparent move to reassure investors, the company also decided to maintain its attractive dividend.
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Freddie Mac probe ends with no charges
Sep 12 2006 5:31PM (CT)
WASHINGTON (AP) - Mortgage finance giant Freddie Mac will not face criminal charges in connection with its multibillion-dollar accounting scandal, the company said Tuesday.
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Oil companies may avoid royalty payments
Sep 12 2006 5:13PM (CT)
WASHINGTON (AP) - Oil companies are under pressure to resolve flawed drilling leases that allow them to avoid federal royalty payments, including on oil from a major discovery in the Gulf of Mexico.
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N.Y. Times to sell broadcasting group
Sep 12 2006 4:58PM (CT)
NEW YORK (AP) - The New York Times Co. said Tuesday that it intends to sell its group of nine network-affiliated TV stations in order to concentrate on its newspaper and digital businesses.
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Treasury bonds rise after auction
Sep 12 2006 4:45PM (CT)
NEW YORK (AP) - U.S. Treasury prices Tuesday higher, exiting active trade near session highs, after a strong 10-year auction buoyed demand.
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Treasury bonds rise after auction
Sep 12 2006 4:45PM (CT)
NEW YORK (AP) - U.S. Treasury prices Tuesday higher, exiting active trade near session highs, after a strong 10-year auction buoyed demand.
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Gold, silver slip late in day
Sep 12 2006 4:36PM (CT)
NEW YORK (AP) - Gold and silver futures couldn't hang onto early gains and settled lower again Tuesday, with selling coming from short-term speculators and helped along by the continuing decline in crude oil.
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Oil prices drop below $64 a barrel
Sep 12 2006 4:25PM (CT)
WASHINGTON (AP) - Oil prices fell by almost 3 percent Tuesday, dipping below $64 a barrel as worldwide demand and supply threats ease. After a seven-day selloff, crude futures are at their lowest level since late March.
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Best Buy 2Q profits up 22 percent
Sep 12 2006 4:24PM (CT)
MINNEAPOLIS (AP) - Strong sales of high-definition TVs at Best Buy Co. Inc. helped fuel second-quarter profits that rose 22 percent and beat Wall Street expectations on Tuesday. Best Buy shares leapt more than 9 percent.
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Nokia signs $2.5B in deals with China
Sep 12 2006 4:08PM (CT)
HELSINKI, Finland (AP) - Nokia Corp. announced deals worth more than 2 billion euros ($2.5 billion) with Chinese customers on Tuesday, sending the company's shares up 3 percent.
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Goldman 3Q profit dips, beats forecast
Sep 12 2006 3:51PM (CT)
NEW YORK (AP) - Goldman Sachs Group Inc., the No. 3 U.S. securities firm, said its third-quarter profit fell less than expected as a robust investment banking performance helped offset a summer trading slump
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BMW unveils hydrogen-powered luxury car
Sep 12 2006 3:27PM (CT)
MUNICH, Germany (AP) - German automaker BMW AG said Tuesday it will introduce the world's first hydrogen-powered luxury performance car.
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Corn, soybean forecast may dampen aid
Sep 12 2006 2:22PM (CT)
WASHINGTON (AP) - The outlook is improving for the nation's corn and soybean farmers, and that may dampen the effort in Congress to spend billions of dollars in drought aid.
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Survey: Companies plan to boost staffing
Sep 12 2006 11:56AM (CT)
MILWAUKEE (AP) - The jobs outlook remains stable, as 28 percent of U.S. companies plan to increase staffing levels in the fourth quarter this year, according to a survey of 14,000 employers released Tuesday.
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Concerns raised over Web sex ad replies
Sep 12 2006 10:13AM (CT)
NEW YORK (AP) - At first glance, the posting looked like any number of Internet classified ads explicitly seeking sex. But instead of the 27-year-old woman with long brown hair advertised, a male, Seattle-area graphic designer collected the replies and posted them online _ with photos, names and contact information.
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Kroger 2Q profit rises
Sep 12 2006 9:54AM (CT)
CINCINNATI (AP) - Kroger Co., the nation's largest traditional grocery chain, said Tuesday its profit rose 6 percent in its second quarter, helped by a 9 percent jump in sales as the company focuses on building customer loyalty.
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India's Videocon nearing buy of Daewoo
Sep 12 2006 8:19AM (CT)
NEW DELHI (AP) - India's leading television maker, Videocon Industries Ltd., is close to buying Daewoo Electronics Corp. of South Korea in what could be the biggest overseas acquisition by any Indian company, an official familiar with the deal said Tuesday.
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OPEC official warns of 'new price era'
Sep 12 2006 7:59AM (CT)
VIENNA, Austria (AP) - High and volatile crude costs may signal "a new price era," a senior OPEC official said Tuesday, insisting that the 11-nation cartel is doing all it can to bring prices down to more reasonable levels.
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IMF chief: Basic economic outlook good
Sep 12 2006 7:13AM (CT)
VIENNA, Austria (AP) - The head of the International Monetary Fund on Tuesday predicted a "continued smooth ride" for the global economy, but cautioned that there are signs of potential trouble ahead after several years of brisk growth.
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Canon to inspect 1.87 million copiers
Sep 12 2006 6:55AM (CT)
TOKYO (AP) - Canon Inc. said Tuesday it will inspect and provide free parts replacements for 1.87 million personal copiers worldwide because of a risk some may catch fire.
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Dollar rises to 2-month high
Sep 12 2006 5:22AM (CT)
TOKYO (AP) - The dollar rose to a two-month high against the yen in Asian trading Tuesday as hopes dwindled for an interest rate hike from the Bank of Japan before the end of the year.
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USDA miscalculates cattle numbers
Sep 12 2006 4:09AM (CT)
WICHITA, Kan. (AP) - A top official at the U.S. Department of Agriculture has apologized to Kansas cattlemen for a miscalculation that will mean $3.8 million fewer dollars than the state had been promised for drought assistance.
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Activists criticize China media controls
Sep 12 2006 4:08AM (CT)
BEIJING (AP) - Journalism and human rights groups on Tuesday criticized China's new controls on foreign news agencies as harmful to Chinese society and a possible threat to coverage of the 2008 Beijing Olympics.
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IMF is generally upbeat on world economy
Sep 12 2006 1:59AM (CT)
SINGAPORE (AP) - The International Monetary Fund warned Tuesday that the risks of a global slowdown have increased due to higher interest rates, surging oil prices and an apparent cooling in the U.S. housing market that could slow the U.S. economy.
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Hong Kong Disneyland marks anniversary
Sep 12 2006 1:50AM (CT)
HONG KONG (AP) - Hong Kong Disneyland marked its first anniversary Tuesday, overshadowed by poorer-than-expected visitor figures, bad publicity and chaos at the gates.
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Chevron, others may avoid oil royalties
Sep 12 2006 1:18AM (CT)
WASHINGTON (AP) - Chevron Corp., and two other oil companies may avoid paying royalties to the government on at least some of the oil pumped from a massive newly discovered field in the Gulf of Mexico because of a mistake by federal officials, according to a congressional inquiry.
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