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Japanese stocks advance; Dollar down
Oct 12 2006 11:52PM (CT)
TOKYO (AP) - Japanese stocks rose Friday on the heels of a new record on Wall Street overnight. Major trading companies Itochu and Marubeni gained on reports they were likely to post record profits for the half-year thanks to soaring oil prices.
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Wal-Mart faces at least $62M in damages
Oct 12 2006 11:46PM (CT)
PHILADELPHIA (AP) - A state jury found Thursday that Wal-Mart broke Pennsylvania labor laws by forcing employees to work through rest breaks and off the clock, a decision plaintiffs' lawyers said would result in at least $62 million in damages.
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Jasdaq, Nasdaq considers alliance
Oct 12 2006 11:39PM (CT)
TOKYO (AP) - Japan's high technology-oriented stock exchange Jasdaq said Friday it is in talks with its U.S. counterpart, Nasdaq, about a possible alliance that would allow investors in Tokyo to trade shares of companies listed in the United States.
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Bank of Japan leaves rates unchanged
Oct 12 2006 11:35PM (CT)
TOKYO (AP) - The Bank of Japan on Friday voted unanimously to leave interest rates unchanged, as widely expected, as its policy board concluded a two-day meeting.
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Oil rises above $58 a barrel in Asia
Oct 12 2006 11:33PM (CT)
SINGAPORE (AP) - Oil prices rose Friday on news that U.S. heating oil inventories fell and that Norway ordered production shut down at two offshore platforms, sharply reducing flows from the world's third-largest oil exporter.
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Macy's partners with Rwandan widows
Oct 12 2006 11:18PM (CT)
NEW YORK (AP) - When Macy's decided to sell baskets made by Rwandan widows, the store was swayed in part by the prospect of contributing to a developing economy and in part by the women's tale of suffering during their country's 1994 genocide.
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McDonald's stock upgraded on 3Q forecast
Oct 12 2006 10:42PM (CT)
CHICAGO (AP) - McDonald's Corp. said Thursday that stronger-than-expected September sales pushed preliminary third-quarter profit well above Wall Street estimates, backed by a comeback in Europe and accelerated U.S. momentum that have its two biggest markets surging.
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Ex-Homestore CEO gets 15-year sentence
Oct 12 2006 10:38PM (CT)
LOS ANGELES (AP) - The founder and former chief executive of online real estate listings company Homestore Inc. was sentenced Thursday to a 15-year prison term and ordered to pay a $5 million fine for his part in a scheme to defraud investors.
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Sony releases new Walkman players
Oct 12 2006 8:00PM (CT)
TOKYO (AP) - Sony Corp. unveiled its lastest Walkman digital music players Thursday, vowing to battle Apple Computer Inc.'s iPod juggernaut with superior sound quality.
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Wendy's to sell struggling Baja Fresh
Oct 12 2006 7:05PM (CT)
COLUMBUS, Ohio (AP) - Wendy's International Inc. introduced a strategy Thursday to revive its brand by introducing new menu items and emphasizing product quality.
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Camry hybrid rolls off Ky. assembly line
Oct 12 2006 6:56PM (CT)
GEORGETOWN, Ky. (AP) - The first Kentucky-made hybrid of the nation's most popular family sedan, the Toyota Camry, rolled off the assembly line Thursday, positioning the Japanese automaker to take an even larger share of the gasoline-electric vehicle market in the United States.
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AT&T-BellSouth deal hinges on Democrats
Oct 12 2006 6:16PM (CT)
WASHINGTON (AP) - If the Federal Communications Commission votes as planned on AT&T Inc.'s acquisition of BellSouth Corp. on Friday, it means the agency's Republican chairman compromised with two outspoken Democrats who sought significant changes in the deal.
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J&J selling Zantac to Boehringer
Oct 12 2006 5:28PM (CT)
TRENTON, N.J. (AP) - Drugmakers Johnson & Johnson and Pfizer Inc. have agreed to sell the U.S. marketing rights to the nonprescription heartburn drug Zantac to Boehringer Ingelheim Pharmaceuticals Inc. for $509.5 million.
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Costco 4Q earnings edge up
Oct 12 2006 5:04PM (CT)
SEATTLE (AP) - Costco Wholesale Corp. said Thursday its fourth-quarter profit edged up less than a percentage point as its revenue climbed 19 percent and operating results were unexpectedly strong late in the quarter.
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Sanmina exec resigns in option scandal
Oct 12 2006 4:53PM (CT)
SAN FRANCISCO (AP) - Sanmina-SCI Corp. has severed ties with an executive who helped manipulate the value of employee stock options in a nearly decade-long scheme now under investigation by a federal grand jury.
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Home Depot realigns executive structure
Oct 12 2006 4:49PM (CT)
ATLANTA (AP) - The Home Depot Inc., the nation's largest home improvement store chain, announced a realignment of its executive structure Thursday as the company tries to improve its performance. Two executives are leaving and there will be new roles and reporting duties for others.
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PepsiCo 3Q profit soars, but costs rise
Oct 12 2006 4:40PM (CT)
NEW YORK (AP) - PepsiCo Inc. says higher costs for oranges pressured profits in the latest quarter and are expected to cut into the soft drink and snack foods maker's earnings after the government reported the worst crop in 16 years.
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Dollar slips against major currencies
Oct 12 2006 4:23PM (CT)
NEW YORK (AP) - The dollar slipped against other major currencies Thursday after the government said the U.S. trade deficit hit another record and the Federal Reserve released its survey of economic activity.
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Dems see hike in Medicare drug plan
Oct 12 2006 4:09PM (CT)
WASHINGTON (AP) - In contrast to assurances from the Bush administration, most seniors enrolled in the Medicare drug benefit will pay higher monthly premiums if they stay with their current coverage, according to an analysis from Democratic congressional aides.
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Winnebago earnings tumble on sales slide
Oct 12 2006 3:54PM (CT)
DES MOINES, Iowa (AP) - Motor-home manufacturer Winnebago Industries Inc. reported sharply lower profits for its fiscal fourth quarter due to product liability claims and a decrease in sales because of higher interest rates and fuel prices.
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Worker suit vs. Tyson now class action
Oct 12 2006 3:47PM (CT)
CHATTANOOGA, Tenn. (AP) - A federal judge granted class action status to a lawsuit that contends Tyson Foods Inc., the world's largest meat producer, depressed wages by hiring illegal immigrants at eight plants in Tennessee, Alabama, Indiana, Missouri, Texas and Virginia.
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Islamic-safe finance grows in the West
Oct 12 2006 3:43PM (CT)
MINNEAPOLIS (AP) - When Caribou Coffee went public last year, sharp-eyed investors noticed some unusual promises in its prospectus. Caribou, the nation's second-largest coffeehouse chain, said it would never sell pork or porn. It wouldn't charge or receive interest, either.
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Union loses Continental election
Oct 12 2006 3:39PM (CT)
DALLAS (AP) - The Transport Workers Union fell nearly 300 votes short in its bid to represent baggage handlers and cargo agents at Continental Airlines Inc., the union's second setback in as many years at the Houston-based carrier.
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Poll: Costs still stymie 1st-home buyers
Oct 12 2006 1:33PM (CT)
WASHINGTON (AP) - The go-go days for home prices are over, but Mike Pietrafesa thinks it is still tough for people to buy their first slice of the American dream.
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Holiday Shopping Notebook: T.M.X. Elmo
Oct 12 2006 1:12PM (CT)
NEW YORK (AP) - White hot demand for T.M.X. Elmo _ the latest version of the red furry character from Mattel Inc.'s Fisher-Price that has a more pronounced laugh and body movements _ is creating a halo effect for other Elmo toys. Toy sellers such as KB Toys Inc. and Toys R Us Inc. are reporting a sales surge in Elmo games, Elmo chairs as well as older versions of the plush doll like Hokey Pokey Elmo.
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Harley-Davidson 3Q profit up 18 percent
Oct 12 2006 12:51PM (CT)
MILWAUKEE (AP) - Harley-Davidson Inc. said Thursday its third-quarter profit jumped 18 percent, lifted by a rise in retail sales of its namesake motorcycles.
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Rates on 30-year mortgages rise
Oct 12 2006 12:34PM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages, after having fallen to a seven-month low, rose this week for the first time in five weeks.
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Delta surveys frequent fliers
Oct 12 2006 12:12PM (CT)
ATLANTA (AP) - Delta Air Lines Inc., seeking to improve its service as it moves toward emerging from bankruptcy, is asking frequent fliers on long-haul domestic flights if they'd like to have pillows and certain foods for sale throughout the entire cabin.
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Judge considers documents in Qwest case
Oct 12 2006 11:46AM (CT)
DENVER (AP) - A federal judge closed a hearing Thursday in the insider trading case against former Qwest Chief Joe Nacchio so attorneys could debate the relevancy of classified documents detailing Qwest's business dealings with the government.
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Cypress: DOJ to probe Static RAM market
Oct 12 2006 11:19AM (CT)
SAN JOSE, Calif. (AP) - The U.S. Department of Justice's antitrust division has opened an investigation into the static random access memory market, communications chip-maker Cypress Semiconductor Corp. said Thursday.
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FCC delays taking up AT&T-BellSouth deal
Oct 12 2006 9:22AM (CT)
WASHINGTON (AP) - The Federal Communications Commission is putting off for a day its consideration of AT&T Inc.'s proposed takeover of BellSouth Corp., a mega-deal that some government officials want to examine more closely.
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Domino's 3Q earnings rise 21 percent
Oct 12 2006 6:35AM (CT)
ANN ARBOR, Mich. (AP) - Domino's Pizza Inc., the world's second-largest pizza chain, said Thursday that earnings rose 21 percent in the third quarter, as international growth and cost-management efforts helped offset a decline in sales.
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Wasps used in La. to combat plant bugs
Oct 12 2006 6:04AM (CT)
METAIRIE, La. (AP) - Horticulturists tie a small cylindrical vial containing hundreds of gnat-sized wasps to a hibiscus plant on a well-groomed Metairie, and then remove the cap.
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Bad weather shuts down Alaska pipeline
Oct 12 2006 3:19AM (CT)
ANCHORAGE, Alaska (AP) - Three days of high wind blew dust and dirt onto high voltage insulators on the power grid at Prudhoe Bay, America's largest oil field. A day later, rain turned dust into mud that shorted out insulators, halting power to oil wells.
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Visa to restructure, be publicly traded
Oct 12 2006 1:42AM (CT)
NEW YORK (AP) - Following the lead of MasterCard Inc., competitor Visa announced Wednesday that it plans to restructure its organization to create a new company and then sell shares in an initial public offering.
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Study: Credit card late fees much higher
Oct 12 2006 1:40AM (CT)
WASHINGTON (AP) - Late fees for credit card payments have jumped, but card issuers have done a poor job of explaining their policies on fees and penalties to consumers, a new study by congressional investigators has found.
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Workers sue Santa Barbara paper over OT
Oct 12 2006 1:00AM (CT)
SANTA BARBARA, Calif. (AP) - A former reporter for the embattled Santa Barbara News-Press sued the paper Wednesday, claiming it failed to keep accurate time records and stiffed employees out of overtime pay.
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CEOs swept out by stock options scandal
Oct 12 2006 12:45AM (CT)
SAN FRANCISCO (AP) - The resignations of top executives for McAfee Inc. and CNet Networks Inc. could signal the beginning of a wave of corporate housecleaning, as other companies become entangled in stock options investigations.
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