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New company sets goal of settling Mars
Sep 16 2005 7:36PM (CT)
CAMBRIDGE, Mass. (AP) - All companies set goals, but newly formed 4Frontiers Corp. is eyeing some expansive horizons. The company's mission: to open a small human settlement on Mars within 20 years or so.
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Expert: Merck ignored Vioxx safety risks
Sep 16 2005 7:25PM (CT)
ATLANTIC CITY, N.J. (AP) - Fighting back tears, a heart expert told jurors Friday that Vioxx manufacturer Merck & Co. ignored evidence the painkiller posed safety risks before it hit the market in 1999.
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IRS seeks back taxes from United parent
Sep 16 2005 6:43PM (CT)
CHICAGO (AP) - The Internal Revenue Service filed a claim in federal bankruptcy court Friday saying United Airlines' parent company owes more than $114 million in excise taxes for missed contributions to its pension plans.
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Miss. gov. urges negotations for Katrina
Sep 16 2005 6:33PM (CT)
JACKSON, Miss. (AP) - Gov. Haley Barbour said Friday he preferred negotiation to litigation to help Hurricane Katrina homeowners who had standard homeowners insurance but lacked flood insurance, saying a lawsuit by the state attorney general to force insurers to pay their claims could drive insurance companies from Mississippi.
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Fla. police officer relieved of duty
Sep 16 2005 6:18PM (CT)
MIAMI (AP) - A Miami-Dade police officer has been relieved of duty and is under investigation for allegedly obtaining unauthorized access to Social Security numbers and other personal data on as many as 4,689 people maintained by ChoicePoint Inc.
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Murphy Oil said to face 2 Katrina suits
Sep 16 2005 5:45PM (CT)
EL DORADO, Ark. (AP) - Murphy Oil Corp. said in filings with the Securities and Exchange Commission on Friday that two class-action lawsuits have been filed against the company and its Murphy Oil USA Inc. unit because of leaks blamed on Hurricane Katrina.
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Orbimage to buy Space Imaging for $58.5M
Sep 16 2005 5:43PM (CT)
DENVER (AP) - Space Imaging LLC said Friday it is being acquired by rival Orbimage Holdings Inc. in a $58.5 million cash deal expected to create the largest satellite imagery company in the United States.
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GM unit shuns plea to reconsider job cuts
Sep 16 2005 5:35PM (CT)
BERLIN (AP) - General Motors Corp.'s Opel unit on Friday rejected a plea from a labor representative to reconsider its plans to cut 2,800 jobs at its Bochum plant by 2007.
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Georgia-Pacific to reopen mills in Miss.
Sep 16 2005 5:11PM (CT)
JACKSON, Miss. (AP) - Georgia-Pacific Corp. will bring 500 jobs to southwest Mississippi by reopening two mills to salvage and process excess timber that was knocked to the ground by Hurricane Katrina, Gov. Haley Barbour said Friday.
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McDonald's shares up 2.3 percent on rumor
Sep 16 2005 5:01PM (CT)
OAK BROOK, Ill. (AP) - Shares in McDonald's Corp. settled 2.3 percent higher Friday after hitting a new 52-week high on rumors that hedge fund Pershing Square Capital Management has bought a 4.9 percent stake in the fast-food company.
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Analysts: Katrina may cost Bermuda cos.
Sep 16 2005 4:59PM (CT)
HAMILTON, Bermuda (AP) - Hurricane Katrina, expected to be the costliest natural disaster in U.S. history, could cost Bermuda insurance companies as much as $5 billion in claims, analysts said Friday.
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Treasury bond prices fall due to worries
Sep 16 2005 4:58PM (CT)
NEW YORK (AP) - Treasury bond prices fell Friday due to a number of factors that succeeded in pushing the 10-year yield above 4.25 percent.
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Friday's commodities roundup
Sep 16 2005 4:49PM (CT)
NEW YORK (AP) - Traders concerned about softening energy consumption in the wake of Hurricane Katrina Friday sent crude-oil futures to their lowest levels in five weeks.
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Gas price jump boosts use of mass transit
Sep 16 2005 4:38PM (CT)
NEW YORK (AP) - Early this month, when Hurricane Katrina sent gasoline prices soaring above $3, officials at the Washington Metropolitan Area Transit Authority put out an advisory warning commuters about overcrowded trains.
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Judge OKs US Airways' Chapter 11 plan
Sep 16 2005 3:23PM (CT)
ALEXANDRIA, Va. (AP) - US Airways received final approval Friday to exit bankruptcy protection for the second time in three years and merge with America West Holdings Corp.
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Katrina building costs said to stabilize
Sep 16 2005 2:52PM (CT)
SEATTLE (AP) - Hurricane Katrina destroyed thousands of homes, but it was the damage to timber and sawmills in the storm-ravaged region that immediately drove up the price of some construction materials nationwide.
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Deutsche Telekom won't sell T-Mobile USA
Sep 16 2005 2:46PM (CT)
BERLIN (AP) - Deutsche Telekom AG has decided against selling its T-Mobile USA unit and will instead work to expand the U.S. wireless unit, the company said Friday.
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Agency warns buyers on Katrina car sales
Sep 16 2005 2:35PM (CT)
GRAND RAPIDS, Mich. (AP) - In the market for a good used car? Watch out for vehicles that sat submerged for days in the flooded streets of New Orleans, Biloxi or other Gulf Coast cities ravaged by Hurricane Katrina.
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Oil prices drop on signs of falling prices
Sep 16 2005 2:25PM (CT)
NEW YORK (AP) - Crude-oil prices dropped to $63 a barrel Friday after OPEC reaffirmed traders' belief that the high retail price of gas is driving away consumers.
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United may be model for Delta, Northwest
Sep 16 2005 1:48PM (CT)
CHICAGO (AP) - Costly, contentious and twice as long as expected, United Airlines' bankruptcy restructuring seems an unlikely role model for Delta Air Lines Inc. and Northwest Airlines Corp. as they begin their overhauls in Chapter 11.
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Judge orders mediation in Scrushy suit
Sep 16 2005 1:19PM (CT)
BIRMINGHAM, Ala. (AP) - A federal judge has ordered mediation in the government's lawsuit against fired CEO Richard Scrushy over a massive fraud at HealthSouth Corp., a possible first step toward a settlement of claims totaling nearly $800 million.
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French HP workers walk off job in protest
Sep 16 2005 1:14PM (CT)
GRENOBLE, France (AP) - Hundreds of Hewlett-Packard employees walked off the job Friday to protest planned job cuts by the U.S. maker of computers and printers.
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OPEC likely to increase production ceiling
Sep 16 2005 1:10PM (CT)
DUBAI, United Arab Emirates (AP) - Faced with increasing international pressure to dampen oil prices, OPEC ministers gathering in Vienna this weekend will attempt to convince consumers they are doing all they can to keep the market well-supplied and prices stable.
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Total pledges lower prices to avoid tax
Sep 16 2005 1:07PM (CT)
PARIS (AP) - French oil company Total SA agreed Friday to pass on any decline in the price of gasoline to consumers more swiftly and to invest more in refineries after the government threatened to levy a new windfall tax.
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First federal Vioxx trial moved to Houston
Sep 16 2005 12:31PM (CT)
HOUSTON (AP) - Yet another Hurricane Katrina "evacuee" has a home in Houston _ the nation's first federal trial involving Merck & Co.'s withdrawn painkiller, Vioxx.
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U.S. weekly oil and gas rig count down 5
Sep 16 2005 12:24PM (CT)
HOUSTON (AP) - The number of rigs actively exploring for oil and natural gas in the United States decreased by five this week to 1,436.
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Judge OKs United bankruptcy-exit schedule
Sep 16 2005 12:18PM (CT)
CHICAGO (AP) - A bankruptcy court judge here Friday tentative approved United Airlines' schedule to exit Chapter 11 bankruptcy early in 2006.
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Bangalore to improve its infrastructure
Sep 16 2005 11:40AM (CT)
BANGALORE, India (AP) - Authorities in Bangalore, India's technology hub, promised to improve the city's sagging infrastructure after business leaders protested the state of the city's crowded, potholed roads, an official said Friday.
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Expert urge India to lift ban in place
Sep 16 2005 10:47AM (CT)
BOMBAY, India (AP) - European and U.S. experts on Friday urged India _ one of the few countries offering major opportunities for big Western retailers _ to lift its ban on foreign-owned outlets.
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Consumer sentiment index drops sharply
Sep 16 2005 10:34AM (CT)
NEW YORK (AP) - The University of Michigan's midmonth report on consumer sentiment for September fell sharply to 76.9 from 89.1 in August, according to media reports Friday.
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Unipol: bank gives preliminary bid approval
Sep 16 2005 10:15AM (CT)
ROME (AP) - Italian insurer Unipol SpA said Friday that the Bank of Italy has given preliminary approval to its takeover bid for Banca Nazionale del Lavoro SpA.
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Siemens shares rise amid reports of cuts
Sep 16 2005 10:08AM (CT)
BERLIN (AP) - Shares of German industrial conglomerate Siemens AG rose on Friday amid reports that it will shed 1,290 jobs and find a partner for its unprofitable information-technology services arm.
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Danone shares jump on takeover speculation
Sep 16 2005 9:51AM (CT)
PARIS (AP) - Shares of Groupe Danone rose Friday after comments by a French official fueled renewed speculation that the Paris-based mineral-water and dairy-products company could become a takeover target.
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Indonesian airline Garuda signs $2B deal
Sep 16 2005 9:42AM (CT)
JAKARTA, Indonesia (AP) - Indonesia's ailing airline PT Garuda Indonesia and aircraft manufacturer Boeing Co. signed a $2 billion deal to upgrade the company's fleet, Garuda said in a statement Friday.
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India inflation seen remaining moderate
Sep 16 2005 9:29AM (CT)
NEW DELHI (AP) - India's inflation rate is expected to average between 5 percent and 5.5 percent this fiscal year, despite high global oil prices, a senior finance ministry official said Friday.
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Ikea worker being probed commits suicide
Sep 16 2005 9:25AM (CT)
BERLIN (AP) - A German employee of Swedish furniture maker Ikea who was suspected of accepting at least 1.25 million euros ($1.53 million) in bribes hanged himself in his cell, authorities said Friday.
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Chrysler recalling Jeep Grand Cherokees
Sep 16 2005 9:21AM (CT)
WASHINGTON (AP) - DaimlerChrysler AG's Chrysler Group said Friday it would recall more than 100,000 Jeep Grand Cherokee sport utility vehicles because water contamination of the transmission fluid could lead to fires under the hood.
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Indian medicine manufacturer eyes U.S.
Sep 16 2005 8:51AM (CT)
NEW DELHI (AP) - India's top traditional medicine manufacturer plans to spend 1.2 billion rupees ($27 million) so it can produce generic versions of cancer drugs that will lose U.S. patent protections in the next five years to seven years, a company official said Friday.
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Officials in Macau to investigate bank
Sep 16 2005 8:36AM (CT)
HONG KONG (AP) - Financial authorities in Macau said Friday they are investigating U.S. allegations that a Macau-based bank has been laundering money for North Korea. Despite Banco Delta Asia SARL's denials, customers waited in long lines to withdraw their money.
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India space agency: Boeing teaming nixed
Sep 16 2005 8:28AM (CT)
BANGALORE, India (AP) - India's space agency said Friday that a subsidiary of Boeing Co. has canceled an agreement to help produce communication satellites.
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Gazprom announces list of possible partners
Sep 16 2005 8:20AM (CT)
MOSCOW (AP) - Russian natural-gas monopoly Gazprom announced Friday that Norway's Statoil ASA and Norsk Hydro ASA, France's Total SA and U.S.-based Chevron Corp. and ConocoPhillips made the shortlist of potential partners to help it develop the giant Shtokman gas field under Arctic waters.
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Germany stands at crossroads on economy
Sep 16 2005 8:08AM (CT)
BERLIN (AP) - Germany heads into Sunday's election with a sense that Europe's largest economy stands before a crucial choice that could reverberate across the continent and around the world _ and with polls suggesting a muddled result.
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McCreevy: Fazio likely acted legally
Sep 16 2005 7:50AM (CT)
ROME (AP) - European Internal Market Commissioner Charlie McCreevy said Friday that the Bank of Italy's governor, Antonio Fazio, appears to have acted legally in the takeover battle for bank Antonveneta SpA.
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DaimlerChrysler purchases rest of unit
Sep 16 2005 7:37AM (CT)
BERLIN (AP) - DaimlerChrysler AG said Friday it had agreed to buy out minority shareholders in diesel-engine maker MTU Friedrichshafen, opening the way for its sale.
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EU inflation increases to 2.2 percent
Sep 16 2005 7:36AM (CT)
BRUSSELS, Belgium (AP) - Higher gas prices lifted inflation for all 25 European Union countries to 2.2 percent in August, the European Union's statistic agency said Friday.
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Officials: EU to examine labor restrictions
Sep 16 2005 6:57AM (CT)
BRUSSELS, Belgium (AP) - The European Commission will examine whether restrictions on the movement of workers from eight of the 10 newest EU member states are justified, officials said Friday.
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Report: Company to raise stake in Fiat
Sep 16 2005 6:48AM (CT)
ROME (AP) - The holding company controlled by Italy's Agnelli family decided to bolster its stake in Fiat SpA to guard against a hostile bid, the chairman of the holding company said in an interview published Friday.
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China sets up new oil company
Sep 16 2005 6:46AM (CT)
BEIJING (AP) - Moving to meet soaring domestic demand, China has set up a new oil company licensed to handle exploration, development and refining, officials and reports said Friday.
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EU won't punish those lowering gas tax
Sep 16 2005 6:27AM (CT)
BUDAPEST, Hungary (AP) - The European Union will not retaliate against member states that lower taxes on fuels despite an earlier agreement that countries would not enact individual tax policies, a senior official said Friday.
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DaimlerChrysler to boost Asia production
Sep 16 2005 5:40AM (CT)
BEIJING (AP) - DaimlerChrysler AG said Friday it will boost production in northeast Asia and plans to manufacture the Chrysler 300 sedan model in China beginning in late 2006.
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Jury orders Westar execs to pay millions
Sep 16 2005 5:29AM (CT)
KANSAS CITY, Kan. (AP) - A federal jury on Thursday ordered two former Westar Energy Inc. executives found guilty of looting the utility to relinquish millions of dollars in cash and assets linked to their crimes _ but far less than federal prosecutors had sought.
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Latin American exporters see opportunity
Sep 16 2005 5:29AM (CT)
SAO PAULO, Brazil (AP) - From Mexican cement to Brazilian plywood, Latin American makers of construction materials see a business opportunity in the rebuilding efforts following Hurricane Katrina _ and a chance to breach trade barriers that limit U.S. sales of their goods.
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Marsh & McLennan executives indicted
Sep 16 2005 5:24AM (CT)
ALBANY, N.Y. (AP) - Eight former executives at Marsh & McLennan Companies Inc. were charged with felonies in indictments unsealed Thursday in New York Attorney General Eliot Spitzer's investigation of bid rigging and price fixing in the insurance industry.
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Dana cuts profit outlook due to costs
Sep 16 2005 5:23AM (CT)
TOLEDO, Ohio (AP) - Soaring energy and steel costs forced Dana Corp. on Thursday to cut its profit outlook for this year in half, the latest sign that trouble within the auto industry is hurting the nation's biggest parts suppliers.
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Japanese stocks slip, dollar rises vs. yen
Sep 16 2005 5:13AM (CT)
TOKYO (AP) - Japan's benchmark stock index slipped Friday from a four-year high set the day before as investors took profits ahead of a long weekend. The dollar rose against the yen.
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Popeyes chain to rebuild after Katrina
Sep 16 2005 12:42AM (CT)
ATLANTA (AP) - Marlon Field and Adrian Perkins had seen hurricanes and false alarms before, so when Katrina approached Louisiana the two Popeyes Chicken & Biscuits managers left New Orleans with only enough clothes for a few days.
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Chinese region OKs more foreign investment
Sep 16 2005 12:34AM (CT)
BEIJING (AP) - Hoping to attract needed capital, China's northeastern industrial base of Liaoning has begun allowing foreign investors to buy out big state-owned companies, state media reported Friday.
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