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Holiday sales to increase 5 percent
Sep 18 2006 11:54PM (CT)
NEW YORK (AP) - Holiday sales are expected to rise 5 percent this year, less than the 6.1 percent in the year-ago period, as consumers face still high energy costs, rising interest rates and a cooling housing market, the National Retail Federation said Tuesday.
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IMF chief warns of global growth risks
Sep 18 2006 11:52PM (CT)
SINGAPORE (AP) - IMF chief Rodrigo de Rato on Tuesday welcomed the passage of reforms giving a bigger voice to four emerging economies, but warned that the members face daunting challenges in keeping global growth on track.
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Oil prices rise on renewed Iran jitters
Sep 18 2006 11:48PM (CT)
KUALA LUMPUR, Malaysia (AP) - Oil prices inched past the US$64 a barrel mark Tuesday in Asia, as traders reacted to news that output at a mammoth BP PLC platform in the Gulf of Mexico would not be restored until mid-2008, at the earliest.
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Experts: GM-Ford talks sign of the times
Sep 18 2006 5:00PM (CT)
DETROIT (AP) - General Motors' talks with Renault and Nissan on a possible alliance _ and reports Ford may be pursuing a megadeal, too _ show how automakers constantly turn to each other even amid fierce industry competition.
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Treasury bond prices fall before meeting
Sep 18 2006 4:56PM (CT)
NEW YORK (AP) - Treasury bond prices fell modestly Monday, as investors prepared for producer inflation data Tuesday and the Federal Open Market Committee meeting Wednesday.
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Gold, silver prices rise
Sep 18 2006 4:56PM (CT)
NEW YORK (AP) - Gold prices rose Monday, but market players remain wary of claiming that the recent downward trend is over.
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Allstate CEO to step down at end of 2006
Sep 18 2006 4:45PM (CT)
CHICAGO (AP) - Allstate Corp. said Monday CEO Edward Liddy, who has led the insurer for nearly eight years after orchestrating its 1994 spinoff off from Sears, Roebuck and Co., is stepping down at the end of 2006 and will be succeeded by No. 2 executive Thomas Wilson.
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Gas prices off 12 cents a gallon in week
Sep 18 2006 4:20PM (CT)
WASHINGTON (AP) - The average U.S. retail price of gasoline fell by 12 cents last week to $2.50 a gallon _ the lowest it has been since the end of March.
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Scania rejects MAN $12.2B takeover offer
Sep 18 2006 4:14PM (CT)
STOCKHOLM, Sweden (AP) - Scania AB and two of its major shareholders rejected a $12.2 billion takeover offer from Germany's MAN AG on Monday, with one investor saying the offer did not reflect the truckmaker's true value.
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Stahl resigns as Revlon president, CEO
Sep 18 2006 3:33PM (CT)
NEW YORK (AP) - Revlon Inc., which is struggling to turn its business around, said Jack Stahl has resigned after more than four years as chief executive and president of the cosmetics maker.
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Dollar mixed against major currencies
Sep 18 2006 3:25PM (CT)
NEW YORK (AP) - The dollar was mixed Monday against major foreign currencies after a tame U.S. inflation report dampened the likelihood of another interest rate hike by the Federal Reserve this week.
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Dollar mixed against major currencies
Sep 18 2006 3:25PM (CT)
NEW YORK (AP) - The dollar was mixed Monday against major foreign currencies after a tame U.S. inflation report dampened the likelihood of another interest rate hike by the Federal Reserve this week.
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Judge OKs Owens bankruptcy exit plan
Sep 18 2006 2:00PM (CT)
PITTSBURGH (AP) - A federal bankruptcy judge indicated Monday she approved of Owens Corning's plan for emerging from bankruptcy, more than five years after the building materials maker sought protection from creditors over health claims related to its asbestos products.
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Japan's economic comeback faces unknowns
Sep 18 2006 1:49PM (CT)
TOKYO (AP) - For five years Japan has defied the skeptics, mounting an eye-popping economic comeback from more than a decade of doldrums under reforms ushered in by Prime Minister Junichiro Koizumi. But what comes next is a big question mark as the nation prepares to pick a new prime minister.
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China rethinks foreign investment policy
Sep 18 2006 1:41PM (CT)
SHANGHAI, China (AP) - The going for foreign businesses in China, never easy, has gotten tougher as the government rethinks the "open door" policies that have made the country a magnet for foreign investment.
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Businesses adapt to airport restrictions
Sep 18 2006 1:32PM (CT)
OMAHA, Neb. (AP) - Fifteen live lobsters? Those you can take on a plane. But the ice or gel packs to keep the lobsters cold are not allowed under the recent ban on liquids and gels in carryon luggage
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Ex-Enron exec gets 2 1/2 years in prison
Sep 18 2006 1:30PM (CT)
HOUSTON (AP) - A former high-ranking Enron Corp. trading and retail energy executive was sentenced to 2 1/2 years in prison Monday for insider trading in connection with the energy company's financial collapse.
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Home Depot is hiring 1,000 new employees
Sep 18 2006 9:56AM (CT)
ATLANTA (AP) - The Home Depot Inc., the nation's largest home improvement store chain, says it is hiring more than 1,000 new employees across the country as part of its latest effort to improve its stores.
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Shrine Auditorium to sell naming rights
Sep 18 2006 5:26AM (CT)
LOS ANGELES (AP) - The Shrine Auditorium, whose Moroccan-style facade has been seen by millions as the home of the Emmy Awards and other glittering Hollywood events, could soon sport the name of a corporate sponsor.
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Wall Street looks to Fed to set the tone
Sep 18 2006 5:24AM (CT)
NEW YORK (AP) - The arrival of a report card makes even an A student nervous, so while Wall Street is mostly confident that the Federal Reserve will leave interest rates untouched when it meets this week, the market is still anxious to learn how the central bank perceives the threat of inflation and the overall economy.
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Wolfowitz suggests ways to fight poverty
Sep 18 2006 1:37AM (CT)
SINGAPORE (AP) - Fighting corruption topped the agenda of the World Bank's gathering Monday in Singapore, with the institution's President Paul Wolfowitz stressing that accountability and transparency are essential for promoting economic growth and fighting poverty.
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African states borrowing more from China
Sep 18 2006 1:35AM (CT)
SINGAPORE (AP) - African countries are increasingly looking to borrow money from China because the flow of funds from the World Bank and other donors has been slow and contain too many conditions, several African finance ministers said Sunday.
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IMF reform plan's passage appears likely
Sep 18 2006 1:17AM (CT)
SINGAPORE (AP) - Passage of a proposal to reform the voting structure of the 184-nation International Monetary Fund appeared likely Monday despite opposition from several member countries.
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