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Motiva to settle blast lawsuit for $12M
Sep 19 2005 9:22PM (CT)
DOVER, Del. (AP) - Motiva Enterprises LLC has agreed to pay a $12 million civil penalty to settle a lawsuit filed by government regulators following a fatal tank collapse and explosion at a Delaware oil refinery four years ago, authorities said Monday.
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Japan stocks rise at open; dollar higher
Sep 19 2005 8:35PM (CT)
TOKYO (AP) - Japanese stocks rose Tuesday morning following a national holiday Monday, amid optimism about Japan's economy and buying from foreign investors, despite the decline in U.S. stocks. The dollar gained against the yen and euro.
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Ex-Tyco execs get up to 25 years in prison
Sep 19 2005 8:07PM (CT)
NEW YORK (AP) - Former Tyco CEO L. Dennis Kozlowski was sentenced Monday to up to 25 years in prison for looting the company of hundreds of millions of dollars, the climax of a case of executive greed replete with tales of a $6,000 gold-threaded shower curtain and a $2 million Mediterranean birthday party.
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Laser technology pioneer Gordon Gould dies
Sep 19 2005 7:56PM (CT)
NEW YORK (AP) - Gordon Gould, a pioneer in laser technology who coined the word "laser" and won a decades-long struggle to secure patent rights on the most commonly used type, has died at age 85.
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Brazilian stocks roar to another record
Sep 19 2005 7:50PM (CT)
SAO PAULO, Brazil (AP) - Brazilian stocks roared Monday to their second all-time high in as many trading days, with the country's benchmark Bovespa index closing above 30,000 for the first time in history.
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Mobile home industry waiting on FEMA
Sep 19 2005 7:44PM (CT)
WHITE PINE, Tenn. (AP) - Manufacturers are gearing up to produce cities of mobile homes for Hurricane Katrina victims, but 10 days after the federal government received their proposals to address the housing emergency, the companies are still waiting for a response.
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States, businesses begin hiring evacuees
Sep 19 2005 7:44PM (CT)
BATON ROUGE, La. (AP) - The employment agency didn't open until 8 a.m., but Noel Tabb, a Hurricane Katrina evacuee from New Orleans, arrived at least 20 minutes early and sat anxiously on the edge of a shaded bench.
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ATA pilots union leaders back new proposal
Sep 19 2005 7:33PM (CT)
INDIANAPOLIS (AP) - Union leaders representing ATA Airlines' pilots have endorsed a new contract that gives the pilots partial ownership of the airline in exchange for wage concessions and clears the way for a membership vote on the proposal, the union said Monday.
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Doctor: Vioxx use can cause heart attack
Sep 19 2005 7:22PM (CT)
ATLANTIC CITY, N.J. (AP) - Intermittent use of Vioxx or even a day's use of the painkiller could be enough to cause a heart attack, a prominent heart and medication expert testified Monday on behalf of a man who is suing the maker of the drug, claiming it caused his heart attack.
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Crude prices rise more than $4 a barrel
Sep 19 2005 7:04PM (CT)
NEW YORK (AP) - Crude-oil futures surged more than $4 _ the biggest one-day price jump ever _ amid worries that Tropical Storm Rita strengthening off the Bahamas could hit U.S. oil facilities in the Gulf of Mexico later this week, striking another blow at an industry struggling to recover from Hurricane Katrina.
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Former Prudential broker pleads guilty
Sep 19 2005 6:11PM (CT)
BOSTON (AP) - A former Prudential Securities Inc. broker pleaded guilty in federal court on Monday to wire and securities fraud for his role in a market timing scheme that netted him more than $1 million in commissions.
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Chevron, Shell Oil evacuating Gulf rigs
Sep 19 2005 6:11PM (CT)
DALLAS (AP) - Chevron Corp., Shell Oil and BP PLC began evacuating employees from offshore oil and gas platforms and drilling rigs as Tropical Storm Rita churned Monday toward the Gulf of Mexico and threatened to compound the damage left by Hurricane Katrina.
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Maytag expects lower earnings for year
Sep 19 2005 5:51PM (CT)
DES MOINES, Iowa (AP) - Maytag Corp. said Monday its expects to record a loss before restructuring charges in the third quarter as well as significantly lower earnings for the full year, and suggested plant closings may be possible.
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Procter & Gamble reaffirms 1Q guidance
Sep 19 2005 5:36PM (CT)
CINCINNATI (AP) - Procter & Gamble Co. on Monday reaffirmed early guidance of its first-quarter earnings despite Hurricane Katrina and rising commodity costs.
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AP launches service for younger readers
Sep 19 2005 5:21PM (CT)
NEW YORK (AP) - The Associated Press launched a new multimedia news service aimed at young adults Monday in the latest effort by the newspaper industry to attract young readers.
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Ex-NYMEX chairman seeks time for offer
Sep 19 2005 4:49PM (CT)
NEW YORK (AP) - A former chairman of the New York Mercantile Exchange said Monday he wants more time to put together an offer for a stake in the world's largest energy market, and has asked the NYMEX board to hold off deciding among two other suitors.
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Monday's Commodities Roundup
Sep 19 2005 4:38PM (CT)
NEW YORK (AP) - Oil prices topped $67 a barrel with a record daily advance of more than $4 Monday, as a new tropical storm threatened Gulf of Mexico oil production and refinery operations along the Gulf Coast.
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Katrina donations pass $1 billion mark
Sep 19 2005 4:33PM (CT)
NEW YORK (AP) - In the three weeks since Hurricane Katrina and its floods created watery havoc in U.S. Gulf states, Americans have donated just over $1 billion to charities aiding families displaced by the disaster.
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Hollywood studios team up to fight piracy
Sep 19 2005 4:22PM (CT)
LOS ANGELES (AP) - The six major Hollywood studios have formed a joint venture to research and create technologies to prevent movie piracy, industry officials said Monday.
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Sirius raises full-year revenue guidance
Sep 19 2005 4:15PM (CT)
NEW YORK (AP) - Sirius Satellite Radio Inc. on Monday boosted its full-year revenue guidance slightly and said it expects to report strong revenue growth in 2006. Its 2005 guidance was still short of Wall Street expectations, and its stock fell 5 percent.
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Dodge Neon reaches the end of the road
Sep 19 2005 4:05PM (CT)
DETROIT (AP) - After 11 years, Chrysler Group plans to end production of its spunky, low-priced Dodge Neon this week to make way for a sleek replacement.
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Carnival 3Q profit up on ticket prices
Sep 19 2005 4:01PM (CT)
MIAMI (AP) - Carnival Corp., the world's largest cruise-ship operator, said Monday that profit rose 12 percent in its fiscal third quarter as higher ticket prices and increased onboard sales drove growth. But the company expects to miss Wall Street expectations for this quarter because of Hurricane Katrina.
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Nike 1Q profit up 32 pct. on broad gains
Sep 19 2005 3:56PM (CT)
BEAVERTON, Ore. (AP) - Nike Inc. said Monday its first-quarter profit grew 32 percent as the world's largest sneaker and athletic apparel company posted broad gains in sales and orders. The results beat Wall Street forecasts and its shares surged 6.4 percent.
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Wendy's President, COO Mueller resigns
Sep 19 2005 3:51PM (CT)
DUBLIN, Ohio (AP) - Wendy's International Inc., the nation's third-largest hamburger chain, announced Monday that President and Chief Operating Officer Tom Mueller has resigned for personal reasons. Wendy's stock fell more than 2 percent
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World Bank weighs staffers' return to Iraq
Sep 19 2005 3:47PM (CT)
WASHINGTON (AP) - World Bank President Paul Wolfowitz said Monday he is exploring the possibility of putting staff members back in Iraq _ two years after a deadly bombing led the lending institution to pull them out.
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Canadian auto workers near contract deal
Sep 19 2005 3:38PM (CT)
TORONTO (AP) - The Canadian Auto Workers union said Monday that it was close to a contract deal with DaimlerChrysler AG's Canadian operation.
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OPEC ministers worry about new storm
Sep 19 2005 3:23PM (CT)
VIENNA, Austria (AP) - OPEC ministers edged toward consensus Monday on a proposal to make available 2 million extra barrels of oil a day, while fears about another storm heading for the U.S. Gulf Coast drove prices up more than $4 a barrel.
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HP to buy Peregrine Systems for $425M
Sep 19 2005 3:09PM (CT)
PALO ALTO, Calif. (AP) - Computer giant Hewlett-Packard Co. agreed to acquire software company Peregrine Systems Inc. for $425 million, or $26.08 a share.
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France urging G-7 action on oil production
Sep 19 2005 2:52PM (CT)
PARIS (AP) - France will urge other wealthy nations this week to raise the pressure on oil companies and exporting countries to invest in new capacity, Finance Minister Thierry Breton said Monday.
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Cabbies seek fare help as gas prices soar
Sep 19 2005 2:42PM (CT)
NEW YORK (AP) - Looking to top off his tank at the start of another shift, Frederic Valmord eased his taxi into a West Side gas station and gingerly squeezed the pump. Five gallons cost him $16. Valmord shook his head.
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Government probing Nissan Murano fuel tanks
Sep 19 2005 1:58PM (CT)
WASHINGTON (AP) - The government has opened an investigation into whether the fuel tank in the Nissan Murano sport utility vehicle is susceptible to punctures from road debris during normal driving.
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German shares, euro drop on election news
Sep 19 2005 1:42PM (CT)
BERLIN (AP) - Germany's benchmark share index and the euro dropped Monday after an inconclusive election result dampened hopes of deeper reforms to Europe's biggest economy.
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Official: Russia to freeze gas prices
Sep 19 2005 1:41PM (CT)
MOSCOW (AP) - Russia's major oil producers agreed at a meeting with Industry and Energy Minister Viktor Khristenko Monday to freeze their domestic gasoline prices until the end of the year, his spokesman said.
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GAO questions adequacy of SEC fund probes
Sep 19 2005 1:05PM (CT)
WASHINGTON (AP) - Congressional investigators have questioned the adequacy of inspections of mutual funds by the Securities and Exchange Commission, a few months after finding that the agency failed to uncover trading abuses throughout the fund industry that cost investors billions of dollars.
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Several minivans fare poorly in tests
Sep 19 2005 12:10PM (CT)
WASHINGTON (AP) - Head restraints in some minivans inadequately protect people against neck injuries in rear-end crashes, the insurance industry said Sunday. Several automakers took issue with the latest test results.
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Siemens to shed more than 7,000 jobs
Sep 19 2005 12:08PM (CT)
BERLIN (AP) - Industrial conglomerate Siemens AG said Monday it will shed more than 7,000 jobs in Germany by slimming or shuttering three unprofitable units in an attempt to improve earnings.
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Deutsche Post to buy Exel in $6.7B deal
Sep 19 2005 12:05PM (CT)
LONDON (AP) - German mail and package delivery company Deutsche Post AG said Monday it has offered to buy British-based Exel PLC for 5.5 billion euros ($6.7 billion) in cash and stock in a deal that would make it the No. 1 company in the global logistics industry.
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Thomas-Graham steps down as CNBC chairman
Sep 19 2005 11:15AM (CT)
NEW YORK (AP) - Pamela Thomas-Graham is stepping down as chairman of CNBC, the business news cable channel owned by NBC Universal, for a senior job at Liz Claiborne Inc., a major maker of women's apparel and accessories.
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7-Eleven committee still reviewing offer
Sep 19 2005 10:22AM (CT)
DALLAS (AP) - Convenience-store operator 7-Eleven Inc. said Monday a special committee of its board was still reviewing the buyout offer by the company's Japanese parent, and it asked stockholders to delay tendering their shares.
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Olympic Airlines to appeal EU ruling
Sep 19 2005 9:51AM (CT)
ATHENS, Greece (AP) - Olympic Airlines will appeal a European Union ruling that the carrier has received illegal state aid and must repay the funds, Transport and Communications Minister Mihalis Liapis said Monday.
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Norsk Hydro to buy Spinnaker Exploration
Sep 19 2005 9:29AM (CT)
OSLO, Norway (AP) - Norsk Hydro ASA, a Norwegian petroleum and aluminum producer, said Monday it agreed to buy U.S.-based oil and gas company Spinnaker Exploration Co. for $2.45 billion to boost its presence and growth potential in the Gulf of Mexico.
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EU farm ministers meet to discuss sugar
Sep 19 2005 9:10AM (CT)
BRUSSELS, Belgium (AP) - Farm ministers from developing countries called on the European Union to reconsider planned cuts in guaranteed sugar prices at talks Monday, arguing that the changes would hurt poor farmers.
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EU says it will act against violations
Sep 19 2005 7:56AM (CT)
BRUSSELS, Belgium (AP) - The European Union will not hesitate to trigger sanctions against any country involved in systematic patent violations, EU Trade Commissioner Peter Mandelson said Monday.
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Founder of Japan retail giant Daiei dies
Sep 19 2005 6:35AM (CT)
TOKYO (AP) - Isao Nakauchi, who founded supermarket chain Daiei and revolutionized Japan's retail industry, died Monday of a stroke, a university where he worked said. He was 83.
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Katrina may persuade Fed to end rate hikes
Sep 19 2005 5:55AM (CT)
WASHINGTON (AP) - Conflicting economic risks that could emerge from Hurricane Katrina are putting Federal Reserve Chairman Alan Greenspan and his central bank colleagues in a challenging spot.
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German stock market opens lower
Sep 19 2005 4:55AM (CT)
FRANKFURT, Germany (AP) - Germany's benchmark stock market opened down nearly 2 percent Monday, reflecting uncertainty surrounding the unclear result of parliamentary elections where no party won a clear majority.
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Wash. grape growers eyeing record harvest
Sep 19 2005 4:13AM (CT)
PROSSER, Wash. (AP) - Farmers who grow grapes for juice and concentrate could be looking at an extra-large harvest this year. That's making a lot of them uneasy.
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