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UAW wins job security pledges in GM deal
Sep 28 2007 11:49PM (CT)
DETROIT (AP) - Local union leaders on Friday endorsed a tentative agreement between General Motors Corp. and the United Auto Workers that requires GM to pay out at least $35 billion for retiree health care, establishes lower wages for thousands of new employees and offers an unprecedented number of promises for future work at U.S. plants, according to a summary of the agreement provided by the UAW.
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Analysts see drop in auto sales in Sept.
Sep 28 2007 5:30PM (CT)
DETROIT (AP) - September auto sales are expected to be weak due to a credit crunch, high gas prices and the troubled housing market, reflecting an overall slowdown for the year but little effect from the brief strike against General Motors, industry analysts say.
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FDIC shuts down NetBank due to defaults
Sep 28 2007 5:27PM (CT)
WASHINGTON (AP) - NetBank Inc., an online bank with $2.5 billion in assets, was shut down by the government on Friday because of an excessive level of mortgage defaults.
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Bristol-Myers Squibb to settle probes
Sep 28 2007 5:24PM (CT)
BOSTON (AP) - Bristol-Myers Squibb Co. and a former subsidiary have agreed to pay more than $515 million to settle federal and state investigations into their drug marketing and pricing practices.
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Oil prices fall as selling sinks rally
Sep 28 2007 5:22PM (CT)
NEW YORK (AP) - Oil futures fell Friday as a late flurry of selling overcame an earlier rally driven by the steadily weakening dollar.
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US dollar hits record low against euro
Sep 28 2007 5:05PM (CT)
NEW YORK (AP) - The dollar fell to a record low against the euro for the seventh consecutive session while the Canadian dollar hit a 31-year high as inflation data raised expectations that the Federal Reserve Bank would again lower interest rates.
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The Avon rep has a mustache
Sep 28 2007 4:43PM (CT)
ORLANDO, Fla. (AP) - This Avon rep wears a hard hat and carries a pile of company catalogues to his day job on a construction site, encouraging the men to buy their ladies a little something.
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The Avon rep has a mustache
Sep 28 2007 4:43PM (CT)
ORLANDO, Fla. (AP) - This Avon rep wears a hard hat and carries a pile of company catalogues to his day job on a construction site, encouraging the men to buy their ladies a little something.
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The Avon rep has a mustache
Sep 28 2007 4:43PM (CT)
ORLANDO, Fla. (AP) - This Avon rep wears a hard hat and carries a pile of company catalogues to his day job on a construction site, encouraging the men to buy their ladies a little something.
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Avaya shareholders agree to $8.2B buyout
Sep 28 2007 4:40PM (CT)
NEWARK, N.J. (AP) - Shareholders of Avaya Inc. voted Friday to take the communications and software company private, selling it for $8.2 billion to two private equity groups.
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Gold prices jump to $750 an ounce
Sep 28 2007 2:53PM (CT)
NEW YORK (AP) - Gold rose on Friday to the highest level since 1980 as the U.S. dollar scavenged new lows against the euro and oil prices held over $80 a barrel.
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Gold prices jump to $750 an ounce
Sep 28 2007 2:53PM (CT)
NEW YORK (AP) - Gold rose on Friday to the highest level since 1980 as the U.S. dollar scavenged new lows against the euro and oil prices held over $80 a barrel.
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Treasurys end lower as quarter closes
Sep 28 2007 2:42PM (CT)
NEW YORK (AP) - Treasury prices erased morning gains and ended slightly lower Friday, a bland conclusion to a third quarter marked by vigorous rallies and a sharp shift in investor sentiment away from risk and toward safety.
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Treasurys end lower as quarter closes
Sep 28 2007 2:42PM (CT)
NEW YORK (AP) - Treasury prices erased morning gains and ended slightly lower Friday, a bland conclusion to a third quarter marked by vigorous rallies and a sharp shift in investor sentiment away from risk and toward safety.
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Ex-French official picked to head IMF
Sep 28 2007 1:51PM (CT)
WASHINGTON (AP) - The International Monetary Fund chose France's Dominique Strauss-Kahn as its new leader Friday to chart a new course for the 185-nation lending organization and restore its relevance in a world that seems to need it less and less.
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Fed official sees market stability
Sep 28 2007 12:43PM (CT)
WASHINGTON (AP) - The turmoil that has plagued Wall Street in recent months may be calming down, although the situation remains delicate, a Federal Reserve official said Friday.
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3Com to be sold for $2.2B
Sep 28 2007 9:33AM (CT)
MARLBOROUGH, Mass. (AP) - 3Com Corp., a maker of networking hardware and software, will be sold to affiliates of private equity firm Bain Capital Partners LLC for $2.2 billion in cash, 3Com said Friday.
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Profits fall at German bank IKB
Sep 28 2007 9:20AM (CT)
BERLIN (AP) - Germany's IKB Deutsche Industriebank AG, hit badly by its exposure to the U.S. subprime lending crisis, said Friday its first-quarter profits fell nearly 67 percent.
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Buffett further cuts PetroChina stake
Sep 28 2007 9:11AM (CT)
HONG KONG (AP) - U.S. investor Warren Buffett further reduced his stake in the listed shares of PetroChina Co. to 7.99 percent from 8.21 percent, according to a filing to the Hong Kong stock exchange Friday.
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ABN Amro CEO recovering from surgery
Sep 28 2007 9:07AM (CT)
AMSTERDAM, Netherlands (AP) - Rijkman Groenink, the chief executive of ABN Amro _ at the center of the largest takeover in the history of the banking industry _ is recovering after an emergency operation on his appendix, a company spokesman said Friday.
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Jury rules against farm labor contractor
Sep 28 2007 7:04AM (CT)
YAKIMA, Wash. (AP) - A farm labor contractor must pay $317,000 in damages for discriminating against workers and violating federal labor laws, a jury decided.
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Pressure rises on Alcatel-Lucent CEO
Sep 28 2007 7:02AM (CT)
PARIS (AP) - Shares of telecommunications giant Alcatel-Lucent surged Friday on reports of pressure on CEO Patricia Russo to present a restructuring plan quickly.
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S.C. security fraud trial postponed
Sep 28 2007 5:44AM (CT)
COLUMBIA, S.C. (AP) - The securities fraud trial for the final executive charged in one of the biggest bankruptcies in state history was postponed after a judge refused to allow four former Carolina Investors officials to testify.
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S.C. security fraud trial postponed
Sep 28 2007 5:44AM (CT)
COLUMBIA, S.C. (AP) - The securities fraud trial for the final executive charged in one of the biggest bankruptcies in state history was postponed after a judge refused to allow four former Carolina Investors officials to testify.
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Diners across the U.S. head to the farm
Sep 28 2007 2:53AM (CT)
LYME, Conn. (AP) - Forget the maitre d' and imported caviar. Sophisticated diners are now tromping across muddy fields and braving mosquito bites to eat gourmet food at its very source.
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China bank ups mortgage interest rates
Sep 28 2007 12:45AM (CT)
SHANGHAI, China (AP) - China has raised mortgage interest rates and increased the down payment needed for loans to finance purchases of second homes, the central bank said in a notice seen Friday.
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Japanese jobless rate worsens, CPI drops
Sep 28 2007 12:43AM (CT)
TOKYO (AP) - Japan's economic recovery remains on track despite figures Friday that showed a jump in the nation's jobless rate and a continued decline in consumer prices, the economy minister said.
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