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PetroChina to expand pipeline network
Sep 14 2005 11:56PM (CT)
BEIJING (AP) - China's largest oil and gas company, PetroChina, says it plans to spend up to 100 billion yuan ($12.3 billion) to expand its network of oil and gas pipelines over the next five years to meet soaring demand.
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Medtronic shares catch fire - finally
Sep 14 2005 11:51PM (CT)
CHICAGO (AP) - A year ago, it was hard to find a stock in the medical-device sector with less exciting price action than Medtronic Inc., the biggest device company around. Its shares rose just 2 percent last year, following a 7 percent gain in 2003, even as shares of some of Medtronic's rivals soared. But since the start of 2005, Medtronic shares are up 15 percent, and they recently rose to their highest level in nearly five years. The stock closed at $56.65 on Wednesday.
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Australia Senate approves Telstra sale
Sep 14 2005 11:44PM (CT)
CANBERRA, Australia (AP) - By a narrow margin, the Australian Senate voted to sell the government's controlling stake in Telstra Corp. on Wednesday, clearing the major hurdle for the privatization of the former state-owned telecommunications monopoly.
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Crude oil prices rise above $65 a barrel
Sep 14 2005 11:42PM (CT)
SINGAPORE (AP) - Crude oil prices rose Thursday, staying above the US$65 a barrel mark, as the market digested the U.S. petroleum data that showed a fall in crude stocks but a rise in gasoline inventories, suggesting that soaring prices are undercutting U.S. gasoline demand.
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Japanese stocks rise; dollar up vs. yen
Sep 14 2005 11:01PM (CT)
TOKYO (AP) - Japanese stocks rose Thursday morning as traders bought oil, steel and mining issues, partly fueled by interest among foreign investors. The dollar was slightly higher against the yen.
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Delta, Northwest creditors to begin tussle
Sep 14 2005 10:26PM (CT)
NEW YORK (AP) - The collapse of Delta Air Lines Inc. and Northwest Airlines Corp. has set into motion a classic battle between three classes of investors, with the mostly unknown list of secured creditors potentially poised to seize control and dictate the carriers' futures.
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Katrina brings financial plight to focus
Sep 14 2005 10:13PM (CT)
WASHINGTON (AP) - Hurricane Katrina has brought into focus the financial plight of many blacks along the Gulf Coast as well as illustrating the differences in how minorities and whites use and are treated by banks.
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Mirage readies team for Vegas project
Sep 14 2005 9:17PM (CT)
LAS VEGAS (AP) - MGM Mirage officials have assembled a who's-who list of architects for its $5 billion CityCenter project that the company hopes not only transforms the Strip into an urban hub but sets a new international design standard.
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Google offers stock at $295 per share
Sep 14 2005 9:03PM (CT)
SAN FRANCISCO (AP) - Google Inc. priced a follow-up stock offering of 14.16 million shares at $295 late Wednesday, offering investors a slight discount from the online search engine leader's recent market value.
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Treasurys drift down
Sep 14 2005 6:18PM (CT)
NEW YORK (AP) - Treasurys prices slipped modestly Wednesday, as investors continued to fixate on the extent of the damage Hurricane Katrina caused to the national economy and how that would ultimately affect monetary policy.
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Wednesday's Commodities Roundup
Sep 14 2005 6:14PM (CT)
NEW YORK (AP) - Crude-oil futures soared to top $65 a barrel Wednesday, marking the highest settlement in about a week, as neutral-to-bearish inventory data failed to cool a rally that began before the trading pits opened.
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Google suit sent back to state court
Sep 14 2005 6:04PM (CT)
TEXARKANA, Ark. (AP) - A federal appeals court says a class-action lawsuit alleging "click fraud" by Google Inc. and other Internet companies should be heard in state court rather than in a federal courtroom.
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Royal Bank of Scotland to relocate offices
Sep 14 2005 5:57PM (CT)
HARTFORD, Conn. (AP) - The Royal Bank of Scotland Group PLC plans to move its North American headquarters from New York to Stamford, initially bringing about 1,150 new jobs to Connecticut, state and local officials announced Wednesday.
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CAW: DaimlerChrysler next target for talks
Sep 14 2005 5:50PM (CT)
TORONTO (AP) - The Canadian Auto Workers union will strike against DaimlerChrysler, where up to 2,500 jobs were at risk, if no deal is reached by next Tuesday, union leader Buzz Hargrove said Wednesday.
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Starbucks CEO: Health care rocketing
Sep 14 2005 5:33PM (CT)
WASHINGTON (AP) - Starbucks Corp. will spend more on health insurance for its employees this year than on raw materials needed to brew its coffee, the company's chairman said Wednesday.
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UNITE HERE leaves AFL-CIO
Sep 14 2005 5:22PM (CT)
WASHINGTON (AP) - A union representing almost half a million apparel and hospitality workers has decided to bolt the AFL-CIO and join a half-dozen other unions seeking to focus labor more on recruiting.
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Gillette announces five-blade razor
Sep 14 2005 4:59PM (CT)
BOSTON (AP) - Gillette Co. fired the latest shot in the blade wars Wednesday, introducing a new razor for men which features five blades, one more than competitor Schick's model.
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GE reaffirms earnings outlook
Sep 14 2005 4:56PM (CT)
NEW HAVEN, Conn. (AP) - General Electric Co. reaffirmed its profit forecast Wednesday, saying it expects to achieve double-digit earnings growth this year despite the impact of Hurricane Katrina.
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Northwest Airlines files for bankruptcy
Sep 14 2005 4:55PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp., pummeled by high labor costs and soaring fuel prices, filed for bankruptcy protection Wednesday, seeking Chapter 11 protection on the same day as its larger rival, Delta Air Lines Inc. The filings put three of the nation's four largest airlines in bankruptcy court.
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GE reaffirms earnings outlook
Sep 14 2005 4:54PM (CT)
NEW HAVEN, Conn. (AP) - General Electric Co. reaffirmed its profit forecast Wednesday, saying it expects to achieve double-digit earnings growth this year despite the impact of Hurricane Katrina.
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Inflation in health care premiums drops
Sep 14 2005 4:50PM (CT)
NEW YORK (AP) - Inflation in health care premiums declined for the second straight year in 2005, but the number of employers offering coverage also dropped, according to a new study.
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US Airways creditors OK bankruptcy plan
Sep 14 2005 4:50PM (CT)
ARLINGTON, Va. (AP) - US Airways Group Inc. on Wednesday said creditors approved its Chapter 11 bankruptcy plan of reorganization, anchored by its proposed acquisition by America West Holdings Corp.
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Katrina agricultural losses top $3B
Sep 14 2005 4:50PM (CT)
JACKSON, Miss. (AP) - Cotton fields are flattened. Hundreds of chicken houses are destroyed. Timber and pecan trees are splayed across the ground.
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Lehman Brothers profit jumps
Sep 14 2005 4:49PM (CT)
NEW YORK (AP) - Lehman Brothers Holdings Inc. reported a 77 percent jump in third quarter profits Wednesday, handily surpassing Wall Street's forecasts due to record revenues in its investment banking and investment management segments, as well as strong overseas results.
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Boeing delays deliveries due to strike
Sep 14 2005 4:48PM (CT)
CHICAGO (AP) - Boeing Co. will be unable to deliver more than two dozen airplanes to customers this month as scheduled because of the continuing strike by its Machinists union, the company's chief financial officer said Wednesday.
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Sony shuffles executives at game unit
Sep 14 2005 4:47PM (CT)
LOS ANGELES (AP) - Sony Computer Entertainment America Inc. Wednesday said it was shuffling its executive ranks, just a week before its Japanese parent is slated to announce a massive strategy overhaul.
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Wednesday's commodities roundup
Sep 14 2005 4:44PM (CT)
NEW YORK (AP) - Crude-oil futures soared to top $65 a barrel Wednesday, marking the highest settlement in about a week, as neutral-to-bearish inventory data failed to cool a rally that began before the trading pits opened.
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TJX Cos. chief executive steps down
Sep 14 2005 4:39PM (CT)
FRAMINGHAM, Mass. (AP) - The chief executive of TJX Cos. resigned abruptly, saying that some of the off-price retailer's smaller divisions "have not met expectations" in the past year and would benefit from a "fresh perspective."
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Disney: Bad films will hurt profits
Sep 14 2005 4:18PM (CT)
LOS ANGELES (AP) - Shares of The Walt Disney Co. dipped nearly 3 percent Wednesday after the company said it expected fourth-quarter losses of as much as $300 million from its movie studio.
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NYSE president Britz to retire
Sep 14 2005 3:43PM (CT)
NEW YORK (AP) - Robert Britz, one of the New York Stock Exchange's two presidents, will retire from the Big Board by the end of the year, the exchange said Wednesday.
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China shoes put Italians out of business
Sep 14 2005 3:43PM (CT)
MILAN, Italy (AP) - Chinese shoe imports to Italy rose more than 900 percent during the first five months of 2005, fueling new demands for trade measures to fend off the "extinction" of an important Italian industry, a trade group said Wednesday.
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Another 'Budweiser' coming to St. Louis
Sep 14 2005 3:03PM (CT)
ST. LOUIS (AP) - A beer claiming to be the original "Budweiser" will soon be sold in the shadow of Anheuser-Busch Cos. Inc., maker of the better-known beer of the same name.
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Nokia wades into crowded Blackberry market
Sep 14 2005 2:57PM (CT)
NEW YORK (AP) - Nokia Corp. is joining a suddenly crowded field of BlackBerry rivals, becoming the first major cell phone maker to weigh into the mobile e-mail market with its own brand and service.
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2 carriers to resume New Orleans flights
Sep 14 2005 2:56PM (CT)
DALLAS (AP) - Continental Airlines Inc. said Wednesday it plans to resume flights to New Orleans on Monday, and Southwest Airlines Inc. says it will announce a startup date in the next few days.
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P&G ready to reopen Folgers plant
Sep 14 2005 2:19PM (CT)
CINCINNATI (AP) - Procter & Gamble Co. said Wednesday it will soon restore some operations to its hurricane-damaged Folgers coffee plant in New Orleans, but warned of possible temporary shortages on some store shelves.
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Farmers fear storm will create delays
Sep 14 2005 12:55PM (CT)
COLUMBIA, Ill. (AP) - His face smudged with dark grit, Glen Mueller stepped down from a mammoth combine this week and stared out across a corn crop jeopardized by quandaries far larger than the machinery towering over him.
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Election could halt German market rally
Sep 14 2005 12:51PM (CT)
BERLIN (AP) - Germany's stock market has outpaced U.S. and other European markets in recent weeks, buoyed by expectations of a swing to the right in weekend elections _ a rare bright spot for Europe's largest economy.
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U.S. sells oil cos. 11M barrels of crude
Sep 14 2005 11:53AM (CT)
WASHINGTON (AP) - The Energy Department announced the sale Wednesday of 11 million barrels of crude oil from its government reserve, about a third of what had been offered to the industry as part of the Hurricane Katrina recovery effort.
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Judge approves sale of old Trump site
Sep 14 2005 11:39AM (CT)
CAMDEN, N.J. (AP) - A high-end homebuilder has been cleared to be the owner of a property that once bore Donald Trump's name.
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Toys R Us reports second-quarter loss of
Sep 14 2005 11:20AM (CT)
WASHINGTON (AP) - Toys R Us Inc., now a private company, lost $359 million on revenue of $2.1 billion in the quarter ended July 30, according to a filing with the Securities and Exchange Commission.
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Toys R Us reports second-quarter loss
Sep 14 2005 11:20AM (CT)
WASHINGTON (AP) - Toys R Us Inc., now a private company, lost $359 million on revenue of $2.1 billion in the quarter ended July 30, according to a filing with the Securities and Exchange Commission.
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Ex-Regulator: NYSE dropped cases at request
Sep 14 2005 11:09AM (CT)
WASHINGTON (AP) - The New York Stock Exchange, acting on a request by a top Securities and Exchange Commission official, in 2001 dropped cases against a dozen firms whose e-mail retention and storage procedures had been found to be deficient, according to a former NYSE regulator.
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Lawyer: Man was active before taking Vioxx
Sep 14 2005 10:45AM (CT)
ATLANTIC CITY, N.J. (AP) - A lawyer for a man who blames Vioxx for his heart attack told jurors Wednesday that the man had an active lifestyle but was stricken within two months of beginning to take the painkiller.
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GM optimistic on new Cadillac sedan
Sep 14 2005 10:29AM (CT)
FRANKFURT, Germany (AP) - General Motors Corp. said Wednesday that it will launch the new Cadillac BLS sedan in Europe next year.
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Ford says Jaguar is showing improvement
Sep 14 2005 10:28AM (CT)
FRANKFURT, Germany (AP) - Jaguar Cars Ltd. is showing improvement, a Ford Europe executive said Wednesday, but wouldn't give a target date for the unit to return to profitability.
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Automakers eye hybrids as gas prices rise
Sep 14 2005 10:07AM (CT)
FRANKFURT, Germany (AP) - After some initial skepticism, the world's automakers are embracing hybrid vehicles in an effort to match Toyota's success and give customers more options to combat high gas prices.
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Growth of insurance premiums slows
Sep 14 2005 9:53AM (CT)
WASHINGTON (AP) - The growth rate of health insurance premiums failed to reach double digits this year, the first time that's happened since 2000.
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EU: Olympic Airlines has to repay aid
Sep 14 2005 9:39AM (CT)
BRUSSELS, Belgium (AP) - The European Union ruled Wednesday that Greek airline Olympic must repay several hundred million euros in illegal aid from the Greek government _ a decision that could cripple the ailing national carrier.
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Report: TAP plans to buy 11 Airbus planes
Sep 14 2005 9:20AM (CT)
LISBON, Portugal (AP) - TAP Air Portugal aims to buy 11 new Airbus A-330-300 planes for 1.3 billion euros ($1.6 billion), a newspaper reported Wednesday.
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Minister: Biotech canola found in crops
Sep 14 2005 9:20AM (CT)
SYDNEY, Australia (AP) - Traces of genetically modified canola have been detected in two varieties of nongenetically modified canola grown in western Australia, prompting calls by an environmental group Wednesday for stricter controls.
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BPB: Saint-Gobain bid offers no premium
Sep 14 2005 9:08AM (CT)
LONDON (AP) - British plasterboard maker BPB PLC said Wednesday that a hostile 3.68 billion-pound ($6.7 billion) takeover bid from Compagnie de Saint-Gobain SA represented "almost no premium for control whatsoever."
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Khodorkovsky's appeal hearing postponed
Sep 14 2005 8:39AM (CT)
MOSCOW (AP) - A Moscow court on Wednesday postponed the start of hearings on oil tycoon Mikhail Khodorkovsky's appeal of a nine-year prison sentence until next week after his defense lawyer failed to show up.
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Japan August corporate bankruptcies rise
Sep 14 2005 8:09AM (CT)
TOKYO (AP) - Corporate bankruptcies in Japan rose 11.7 percent to 754 cases in August, bouncing higher after a decline in July, a private research group said Wednesday.
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China industrial output rises in August
Sep 14 2005 8:06AM (CT)
BEIJING (AP) - China's industrial output rose 16 percent in August from the same month last year, almost level with the pace of growth in July, the government reported Wednesday.
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Bank of Japan sends mixed signals on policy
Sep 14 2005 7:49AM (CT)
TOKYO (AP) - Japan's central bank sent mixed signals Wednesday about whether it might soon tighten its monetary policy amid signs of a rekindled growth in the world's second largest economy.
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DaimlerChrysler gets OK on auto financing
Sep 14 2005 7:38AM (CT)
BEIJING (AP) - DaimlerChrysler AG said Wednesday it had received approval from the Chinese government to start offering auto financing, and would launch services later this year.
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EC official: euro-zone growth is likely
Sep 14 2005 6:53AM (CT)
BRUSSELS, Belgium (AP) - Stronger economic growth is likely in the 12 nation region that uses the euro as its shared currency for the second half of the year, European Central Bank President Jean-Claude Trichet said Wednesday.
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EU fines 11 European cos. for price fixing
Sep 14 2005 6:44AM (CT)
BRUSSELS, Belgium (AP) - The European Commission fined 11 European companies a total of 43.5 million euros ($53.4 million) on Wednesday for fixing the price of industrial thread, saying their practices restricted access to the European market for competitors.
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U.S.: China must deliver on anti-piracy
Sep 14 2005 6:20AM (CT)
BEIJING (AP) - China must deliver on its promises for better protection for patents, trademarks and other intellectual property, Washington's newly appointed official in charge of combatting commercial piracy said Wednesday.
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China may raise cap on foreign investment
Sep 14 2005 4:32AM (CT)
BEIJING (AP) - China's banking regulator is considering raising the limits on foreign stakes in state-run commercial banks, a change that potentially could bring billions of dollars in new investments into the industry, an official said Wednesday.
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Tight labor supply squeezes agriculture
Sep 14 2005 3:10AM (CT)
FRESNO, Calif. (AP) - Raisin grower Richard Garabedian knows the gamble: The longer his grapes stay on the vine, the sweeter the raisins _ but the higher the chance they'll get caught by the rain that can ruin a year's worth of work.
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