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Southwest Airlines returns to Denver
Oct 20 2005 11:22PM (CT)
DENVER (AP) - Southwest Airlines Co. will resume service in Denver next year after a 20-year absence, likely triggering lower fares yet posing fresh problems for airlines already struggling with higher fuel prices.
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Mechanics won't vote on Northwest offer
Oct 20 2005 11:04PM (CT)
MINNEAPOLIS (AP) - The mechanics union for Northwest Airlines Corp. said Thursday that it will not vote on the carrier's latest offer, saying the company inserted last-minute language that violates the union's constitution.
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Japanese stocks fall 0.27 percent
Oct 20 2005 10:36PM (CT)
TOKYO (AP) - Japanese stocks slumped Friday following an overnight drop on Wall Street. Japanese shares had rallied a day earlier to snap a six-day losing streak. The dollar weakened against the yen and euro.
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Ex-owners of Ukrainian steelmaker sue
Oct 20 2005 9:28PM (CT)
NEW YORK (AP) - The former owners of Ukrainian steelmaker Kryvorizhstal have sued the Republic of Ukraine, seeking to stop the resale of the steel mill next week.
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AIG changes board-election rules
Oct 20 2005 9:24PM (CT)
NEW YORK (AP) - American International Group Inc., one of the world's largest insurer, named a former chief accountant of the Securities and Exchange Commission to its board Thursday and altered rules for directors' service in a bid to further upgrade its corporate governance policies.
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Jury rules for polo group in logo suit
Oct 20 2005 8:29PM (CT)
NEW YORK (AP) - A jury found Thursday that the United States Polo Association and Jordache Limited can use horse logos that Polo Ralph Lauren said infringed on the trademarks of its famous horsemen logos.
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Tariff victory may be hollow for shrimpers
Oct 20 2005 8:02PM (CT)
NEW ORLEANS (AP) - Shrimp fishermen and processors whose livelihoods were ruined by Hurricanes Katrina and Rita will find it hard to collect the fruits of a hard-fought battle that won tariffs against imports.
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UAW outlines tentative health deal with GM
Oct 20 2005 7:55PM (CT)
DETROIT (AP) - General Motors Corp. retirees represented by the United Auto Workers pay nothing now for their health care coverage, but most would have to pay up to $752 annually in deductibles, co-payments and monthly premiums under a tentative agreement reached this week between GM and the union, UAW officials said Thursday.
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Money funds rose in latest week
Oct 20 2005 6:30PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds rose by $6.61 billion in the latest week to $828.28 billion, the Investment Company Institute said Thursday.
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Lawmaker seeks review of cruise ship deal
Oct 20 2005 6:29PM (CT)
WASHINGTON (AP) - A top House Democrat called on federal officials Thursday to justify their decision to sign a $236 million deal with Carnival Corp. for Hurricane Katrina housing, saying the six-month contract is overpriced.
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Man in file-sharing case gets probation
Oct 20 2005 5:46PM (CT)
LOS ANGELES (AP) - A man who ran an Internet file-sharing hub where computer users could swap movie, music and software files was sentenced Thursday to three years probation and ordered to use the computer only for personal use.
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United resolves disclosure issues
Oct 20 2005 5:46PM (CT)
CHICAGO (AP) - United Airlines told a bankruptcy judge Thursday that it has resolved the major objections to its disclosure statement, clearing the way for approval of a key part of its bankruptcy exit plan.
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Allstate to cut back Gulf Coast coverage
Oct 20 2005 5:43PM (CT)
CHICAGO (AP) - Allstate Corp. will reduce its homeowners coverage in the Gulf Coast region after Hurricane Katrina resulted in an "unacceptable" loss to the insurer of $1.55 billion in the third quarter, its chief executive said Thursday.
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PayPal announces expansion at La Vista
Oct 20 2005 5:40PM (CT)
LA VISTA, Neb. (AP) - PayPal, the online payment service for the Web auction site eBay, has announced it will hire an additional 600 employees and add a second building to its La Vista operations center.
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Researcher: Studies proved Vioxx safe
Oct 20 2005 5:40PM (CT)
ATLANTIC CITY, N.J. (AP) - Pharmaceutical giant Merck & Co. performed several studies in the late 1990s that proved the safety of its now-withdrawn painkiller Vioxx, a top executive told jurors Thursday.
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MedImmune posts slimmer 3Q loss
Oct 20 2005 5:39PM (CT)
COLLEGE PARK, Md. (AP) - Drug maker MedImmune Inc. slightly narrowed its third-quarter loss in results reported Thursday, but a jump in sales of the child respiratory drug Synagis and other products was offset by higher research and development costs.
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Rates on 30-year mortgages climb
Oct 20 2005 5:35PM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages rose this week to the highest level in 15 months while one-year adjustable rate mortgages climbed to the highest level in 4 1/2 years. Analysts expect rising mortgage rates to cool the booming housing market in coming months.
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Treasury prices rise
Oct 20 2005 5:30PM (CT)
NEW YORK (AP) - U.S. Treasury prices rose Thursday, but stayed within recent ranges. A slight easing of oil prices _ the November crude contract at the New York Mercantile Exchange closed down $1.38 a barrel at $61.03 Thursday _ may have taken some pressure off late in the session.
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Wilma threatens Florida's agriculture
Oct 20 2005 5:30PM (CT)
WEST PALM BEACH, Fla. (AP) - The late-season Hurricane Wilma threatens Florida's crucial winter vegetable crop, along with the citrus and horticulture industries that were devastated by last year's hurricanes.
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Flash memory maker SanDisk acquires Matrix
Oct 20 2005 5:30PM (CT)
SAN JOSE, Calif. (AP) - SanDisk Corp., the world's largest supplier of flash memory cards, said Thursday it has agreed to acquire Matrix Semiconductor Inc. in a cash-stock deal for $250 million.
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Baxter Int'l 3Q earnings drop on charges
Oct 20 2005 5:30PM (CT)
DEERFIELD, Ill. (AP) - Baxter International Inc., a maker of treatments for kidney disease, cancer and other disorders, said Thursday its third-quarter profit dropped 58 percent because of tax charges, but its adjusted results were slightly above Wall Street estimates.
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GM, Ford CEOs say incentives to end
Oct 20 2005 5:30PM (CT)
DETROIT (AP) - The CEOs of General Motors Corp. and Ford Motor Co. said this week that this summer's employee discount incentives were a big success but U.S. automakers can't continue to offer huge discounts.
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FDA OKs first brain stem cell transplant
Oct 20 2005 5:25PM (CT)
SAN FRANCISCO (AP) - Federal regulators on Thursday approved what would be the first transplant of fetal stem cells into human brains, a procedure that if successful could open the door to treating a host of neural disorders.
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Alaska Air 3Q profit jumps 22 percent
Oct 20 2005 5:20PM (CT)
SEATTLE (AP) - Alaska Air Group Inc. said Thursday that third-quarter profits rose 22 percent, beating Wall Street expectations, and added that it expects to be one of the few U.S. airline companies to post a full-year profit.
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Nucor profits slip on falling prices
Oct 20 2005 5:03PM (CT)
CHARLOTTE, N.C. (AP) - Nucor Corp.'s third quarter earnings slid 30 percent, but still topped Wall Street expectations Thursday and the steel producer said earnings and sales for the first three quarters of 2005 remained ahead of the same period last year.
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EBay profits up but shares dip on guidance
Oct 20 2005 4:58PM (CT)
SAN JOSE, Calif. (AP) - Shares of eBay Inc. tumbled more than 5 percent Thursday after the online auction pioneer posted strong third-quarter profits but offered a reduced outlook that failed to impress Wall Street.
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N.Y. crude oil prices fall to 3-month low
Oct 20 2005 4:58PM (CT)
NEW YORK (AP) - Crude-oil futures dropped Thursday to a three-month low and gasoline fell to the lowest level since July 1, as supply worries lessened.
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SAP reports 15 percent jump in profits
Oct 20 2005 4:51PM (CT)
FRANKFURT, Germany (AP) - Software maker SAP AG said Thursday its third-quarter net profit rose by 15 percent, thanks to growth in the United States that came at the expense of its rival Oracle and demand for its valuable licensing agreements.
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Dow Jones, Belo eye tough fourth quarter
Oct 20 2005 4:49PM (CT)
NEW YORK (AP) - Profit at Dow Jones & Co. fell 16 percent on costs associated with the launch of The Wall Street Journal's Weekend Edition last month, while income at Belo Corp., publisher of The Dallas Morning News, doubled on ad gains. Both companies, however, warned of tough sledding in the fourth quarter.
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Southwest, Alaska Airlines perform well
Oct 20 2005 4:49PM (CT)
DALLAS (AP) - Southwest Airlines Co. and the parent of Alaska Airlines on Thursday, cashing in winning bets they made on the direction of fuel prices.
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Textile maker Unifi Inc. to consider sale
Oct 20 2005 4:45PM (CT)
RALEIGH, N.C. (AP) - Textile maker Unifi Inc., facing tougher competition at home and abroad, said Thursday it is considering options to improve its business, including putting itself up for sale.
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Coca-Cola says turnaround working
Oct 20 2005 4:40PM (CT)
ATLANTA (AP) - The Coca-Cola Co., which suffered in the past from uneven execution and an exodus of top-level officials, said Thursday its turnaround is working amid a 37 percent jump in third-quarter profit on strong sales in China and Japan. Weak spots were Germany and India.
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UPS reports 7 percent rise in profits
Oct 20 2005 4:36PM (CT)
ATLANTA (AP) - UPS Inc., the world's largest shipping carrier, reported a 7 percent rise in third-quarter profit Thursday and affirmed its guidance for 2005, though it expects only an "OK" Christmas because it believes high energy prices will hit customers' wallets.
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Wal-Mart to toughen overseas standards
Oct 20 2005 4:35PM (CT)
FAYETTEVILLE, Ark. (AP) - Wal-Mart Stores Inc. will start holding its suppliers more accountable for environmental and social standards at foreign factories as public expectations in the United States rise, Chief Executive Lee Scott said Thursday.
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Ford to announce 'significant' layoffs
Oct 20 2005 4:34PM (CT)
DEARBORN, Mich. (AP) - Ford Motor Co., its profits dragged down by continuing poor performance in North America, will announce "significant" U.S. plant closings and layoffs in January in another heavy blow to the nation's autoworkers. The company reported a third-quarter loss of $284 million on Thursday.
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SBC 3Q profit declines on acquisition
Oct 20 2005 4:34PM (CT)
SAN ANTONIO (AP) - SBC Communications Inc. said Thursday that third-quarter profit fell 40 percent from a year ago when it sold Midwestern directory operations and as it continued to absorb costs related to the acquisition of AT&T Wireless Services.
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Hershey posts 3Q loss despite sales gain
Oct 20 2005 4:34PM (CT)
HARRISBURG, Pa. (AP) - The Hershey Co., the nation's largest candy maker, said Thursday third-quarter profit fell almost 30 percent even as sales rose because of costs related to closing a plant and other consolidation.
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McDonald's 3Q profits dip 6 percent
Oct 20 2005 4:33PM (CT)
CHICAGO (AP) - McDonald's Corp.'s third-quarter earnings slipped 6 percent and its stock price also sank Thursday after the fast-food chain said higher beef prices and labor costs had hurt its operating margins.
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Pfizer profits slump, Lilly ekes out gain
Oct 20 2005 4:25PM (CT)
NEW YORK (AP) - Pfizer Inc., the world's biggest drug company, said Thursday its third-quarter earnings plunged 52 percent and a sluggish sales outlook for key drugs like pain reliever Celebrex and Viagra prompted it to cut profit estimates for this year and withdraw guidance beyond that. Its shares slumped to their lowest level in almost a decade.
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Big Movers in the Stock Market
Oct 20 2005 3:58PM (CT)
NEW YORK (AP) - Stocks that were moving substantially or trading heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market.
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Ingersoll-Rand profit up on sales gain
Oct 20 2005 3:57PM (CT)
NEW YORK (AP) - Ingersoll-Rand Co. said Thursday its third-quarter profit rose 6.9 percent, with help from a 16 percent gain in sales at its compact-vehicle unit.
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Earthlink earnings and revenue decline
Oct 20 2005 3:53PM (CT)
ATLANTA (AP) - Internet service provider EarthLink Inc. said earnings in the latest quarter fell, as it continued to lose dial-up subscribers to broadband.
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Whirlpool's 3Q profit rises 13 percent
Oct 20 2005 3:52PM (CT)
GRAND RAPIDS, Mich. (AP) - Continued strong sales helped Whirlpool Corp. overcome higher costs for raw materials and post a 13 percent increase in earnings, the nation's biggest home appliance maker reported Thursday.
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PNC, Bank of New York report higher profit
Oct 20 2005 3:45PM (CT)
PITTSBURGH (AP) - PNC Financial Services Group Inc., which operates mainly in the Mid-Atlantic and Midwest, said Thursday its third-quarter profits rose 29 percent, buoyed by strong growth from deposits, loans and recent acquisitions. Some 1,800 previously announced job cuts also supported the gains.
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Russian state oil company buying stake
Oct 20 2005 3:35PM (CT)
MOSCOW (AP) - The Russian state claimed another chunk of the nation's vast oil and gas reserves Thursday, as state-owned Rosneft oil company announced that it was acquiring a stake in a key eastern Siberian oil field.
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Cell phone shipments reach record 208M
Oct 20 2005 2:37PM (CT)
BOSTON (AP) - Worldwide shipments of mobile phones reached a record 208.3 million during the third quarter as consumers snapped up so-called "smart" phones that feature computer-type capabilities.
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PNC profit jumps on customer growth
Oct 20 2005 1:44PM (CT)
PITTSBURGH (AP) - PNC Financial Services Group Inc., Pennsylvania's largest bank, said Thursday its third-quarter profits rose 29 percent, buoyed by strong growth from deposits, loans and recent acquisitions. Some 1,800 previously announced job cuts also supported the gains.
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U.S. clarifies requirements for tax break
Oct 20 2005 1:36PM (CT)
WASHINGTON (AP) - The Treasury Department released guidelines Thursday clarifying how companies can take advantage of a new tax break for income from manufactured goods.
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Nestle nine-month sales rise 4.8 percent
Oct 20 2005 1:27PM (CT)
VEVEY, Switzerland (AP) - Nestle SA, the world's biggest food and drink company, said Thursday that sales for the first nine months of the year rose 4.8 percent on strength in all its main units. Its shares rose nearly 4 percent.
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Burger King breaks with franchisee group
Oct 20 2005 1:21PM (CT)
DES MOINES, Iowa (AP) - Burger King Corp. has severed relations with the leadership of its U.S. franchisee organization, accusing it of disrupting the company's brand-building initiatives.
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Countries slam EU offers to cut farm aid
Oct 20 2005 12:50PM (CT)
GENEVA (AP) - The European Union's offers to cut its farm tariffs is coming under fire from both rich and poor countries as trade ministers renew their efforts to find a solution to help global trade talks move forward.
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Paris Club cancels part of Nigeria debt
Oct 20 2005 12:41PM (CT)
PARIS (AP) - The Paris Club has canceled about 60 percent of Nigeria's debt to its creditor nations, or an estimated $18 billion, the group of creditors said Thursday.
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Nokia 3rd-quarter profit jumps 29 percent
Oct 20 2005 12:27PM (CT)
STOCKHOLM, Sweden (AP) - Nokia Corp. posted a 29 percent increase in third-quarter earnings on Thursday, boosted by growing global demand for cell phones and strong sales of low-end phones in emerging markets.
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Pfizer 3Q earnings fall, reduces outlook
Oct 20 2005 11:56AM (CT)
NEW YORK (AP) - Pfizer Inc., the world's biggest drug company, said Thursday its third-quarter earnings fell by 52 percent and that sluggish revenue growth drove it to cut profit estimates for this year and withdraw guidance beyond that. Its shares skidded more than 8 percent.
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EU offers pension-friendly proposal
Oct 20 2005 11:46AM (CT)
BRUSSELS, Belgium (AP) - The European Commission, which has long promoted the free flow of workers in the EU, proposed legislation Thursday that would let people take the benefits of their supplemental pension plans with them when they take a new job in another EU nation.
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Eli Lilly 3Q earnings advance 5 percent
Oct 20 2005 11:12AM (CT)
INDIANAPOLIS (AP) - Drug maker Eli Lilly & Co. said Thursday its third-quarter profit rose 5 percent on strong sales of newer drugs and diabetes products, which helped offset lackluster growth of its blockbuster anti-psychotic drug Zyprexa.
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Dow Jones 3Q earnings slide 16 percent
Oct 20 2005 10:49AM (CT)
NEW YORK (AP) - Dow Jones & Co. reported a 16 percent decline in third-quarter net profit on Thursday mostly because of costs related to launching the Saturday edition of The Wall Street Journal.
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Indicators slip for third straight month
Oct 20 2005 10:37AM (CT)
NEW YORK (AP) - A widely watched measure of future economic activity fell for its third consecutive month in September because of rising energy costs that may slow the nation's economy through year-end, a private research group said Thursday.
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Bank of New York 3Q profit up 10 percent
Oct 20 2005 10:20AM (CT)
NEW YORK (AP) - Bank of New York, which specializes in securities servicing and investment management, said Thursday that its profit surged 10 percent in the third quarter, bolstered by increased fees from its securities servicing business.
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German economists cut growth forecast
Oct 20 2005 10:00AM (CT)
BERLIN (AP) - Germany's leading economists cut their 2006 growth forecast for the country, predicting Thursday that Europe's biggest economy would expand by only 1.2 percent amid rising oil prices.
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Cement maker Lafarge issues profit warning
Oct 20 2005 9:58AM (CT)
PARIS (AP) - Lafarge SA, the world's largest cement maker, said Thursday a downturn in North American construction markets may prevent it from meeting earnings targets this year.
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Belo third-quarter earnings up to $22.1M
Oct 20 2005 9:39AM (CT)
DALLAS (AP) - Belo Corp., publisher of The Dallas Morning News and other newspapers, said Thursday that third-quarter profit nearly doubled as advertising revenue at its papers showed solid gains.
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Germany prosecutors contest 6 acquittals
Oct 20 2005 9:37AM (CT)
KARLSRUHE, Germany (AP) - Prosecutors on Thursday contested the acquittal of Germany's most prominent banker and five others over large payments to executives during the 2000 takeover of Mannesmann by Vodafone.
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Southwest Airlines 3Q profit up to $227M
Oct 20 2005 9:33AM (CT)
DALLAS (AP) - Southwest Airlines Co. on Thursday reported its third-quarter profit almost doubled as the low-cost carrier relied on fuel hedging to offset the rising price of oil that has hurt the industry.
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SBC Communications 3Q profit off 40 pct.
Oct 20 2005 9:30AM (CT)
SAN ANTONIO (AP) - SBC Communications Inc., one of the the nation's biggest telecommunications companies, reported Thursday its fiscal third-quarter profit slid 40 percent, as merger and hurricane-related costs at Cingular Wireless offset a slight rise in revenue.
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JetBlue Airways nets $2.7M in 3Q profit
Oct 20 2005 8:56AM (CT)
NEW YORK (AP) - JetBlue Airways Corp. on Thursday said its third-quarter profit fell by more than half as the airline industry continues facing pressure from persistently high fuel costs.
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Trial delayed in TiVo suit vs. EchoStar
Oct 20 2005 8:26AM (CT)
DALLAS (AP) - A TiVo Inc. lawsuit accusing EchoStar Communications Corp. of stealing its technology that lets viewers pause, replay or fast-forward live television has been delayed until March.
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FedEx Express to expand India operations
Oct 20 2005 8:25AM (CT)
NEW DELHI (AP) - FedEx Express, operator of the world's largest cargo airline, will expand operations in India, increasing its number of flights and destinations, a senior company official said Thursday.
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Representative at Volkswagen unit to quit
Oct 20 2005 7:59AM (CT)
BERLIN (AP) - Volkswagen AG's Audi unit said Thursday that its chief employee representative, under investigation in the fraud scandal at Volkswagen, has decided to step down.
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Fiat Auto studies engine production
Oct 20 2005 6:36AM (CT)
ROME (AP) - Fiat Auto SPA said Thursday it was studying the production of diesel engines in Asia for Suzuki Motor Corp. as the Italian automaker continues to seek alliances in efforts to cut costs and revive its fortunes.
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China passenger vehicle sales up 33 pct.
Oct 20 2005 5:34AM (CT)
SHANGHAI, China (AP) - China's passenger vehicle sales jumped 33 percent in September over a year earlier, as price cuts helped spur demand, the China Association of Automobile Manufacturers reported.
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Richardson against NBA's new dress code
Oct 20 2005 4:44AM (CT)
OAKLAND, Calif. (AP) - Jason Richardson wants to keep wearing his gold chains, and the Golden State Warriors guard believes the NBA's new dress code takes aim at black players in the league.
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Bank of Japan: Economy on gradual recovery
Oct 20 2005 4:39AM (CT)
TOKYO (AP) - Japan's economy is on the road to a sustainable recovery, though rising oil prices remain a risk to global growth, Bank of Japan Governor Toshihiko Fukui said Thursday.
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JetBlue sets three-for-two stock split
Oct 20 2005 4:35AM (CT)
NEW YORK (AP) - JetBlue Airways Corp.'s board has declared a three-for-two stock split of the company's common stock. In a press release Wednesday, the low-cost passenger airline said the split will be distributed Dec. 23 to stockholders of record at the close of business Dec. 12.
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Motorola sues ex-president over new job
Oct 20 2005 4:33AM (CT)
CHICAGO (AP) - Motorola Inc., the world's No. 2 maker of mobile phones, has brought suit against its former president, accusing him of breaching noncompete agreements with the company by accepting the top job at Nortel Networks Corp.
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Allstate reports $1.55B quarterly loss
Oct 20 2005 4:32AM (CT)
CHICAGO (AP) - The insurer Allstate Corp. reported a third-quarter loss of $1.55 billion Wednesday as a result of Katrina and other hurricanes that pounded the Gulf Coast over the summer _ its biggest quarterly loss as a publicly traded company.
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China says economy shows 9.4 pct growth
Oct 20 2005 2:41AM (CT)
BEIJING (AP) - China's economy grew at a blistering rate of 9.4 percent in the first three quarters of 2005 as investment surged and the country's politically volatile trade surplus more than doubled, the government said Thursday.
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China Construction Bank prices $8B IPO
Oct 20 2005 1:02AM (CT)
HONG KONG (AP) - China Construction Bank Corp. on Thursday priced its $8 billion initial public offering _ the world's biggest this year _ at the high end of the expected range due to strong demand, according to an investment banker familiar with the deal.
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