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US closer to building natural gas pipeline
Oct 21 2005 11:39PM (CT)
ANCHORAGE, Alaska (AP) - State officials agreed Friday to key terms of a contract with one of three oil companies negotiating to build a 2,100-mile natural gas pipeline from Alaska through Canada and into the Midwest.
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Paper drops foreign language publications
Oct 21 2005 11:24PM (CT)
SAN FRANCISCO (AP) - The San Jose Mercury News, which has won accolades for the diversity of its newsroom and coverage, announced Friday it plans to drop its Spanish and Vietnamese-language newspapers because the free publications aren't profitable.
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RadioShack's 3Q profit climbs 56 percent
Oct 21 2005 11:20PM (CT)
DALLAS (AP) - Electronics retailer RadioShack Corp. reported Friday its third-quarter profit rose 56 percent on a large one-time gain and increased sales.
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Weyerhaeuser 3Q profit slides 52 percent
Oct 21 2005 7:31PM (CT)
SEATTLE (AP) - Weyerhaeuser Co. reported a steep drop in third-quarter profits Friday, and the forest products company said it expects the residual effects of recent hurricanes and other industry pressures to hurt fourth-quarter earnings.
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Courtroom wrangling over Vioxx escalates
Oct 21 2005 7:06PM (CT)
ATLANTIC CITY, N.J. (AP) - A Merck & Co. scientist who says the company took steps to investigate the safety of its Vioxx painkiller denied Friday that the company attempted to downplay the drug's risks.
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Amex sues CEO over $241,000 topless bill
Oct 21 2005 6:43PM (CT)
NEW YORK (AP) - American Express is suing the CEO of a communications company for payment of $241,000 worth of disputed credit card charges at a Manhattan topless club.
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Caterpillar shares skid despite earnings
Oct 21 2005 6:25PM (CT)
PEORIA, Ill. (AP) - Caterpillar Inc. shares skidded more than 9 percent Friday after record third-quarter earnings still fell short of Wall Street's expectations and the construction equipment maker issued a lower profit forecast for the year.
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Jury out on Kodak's digital transformation
Oct 21 2005 6:24PM (CT)
ROCHESTER, N.Y. (AP) - Halfway through a four-year digital makeover, as its quarterly losses mount, Eastman Kodak Co. has some analysts wondering if the picture-taking pioneer is headed for a breakup.
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Stewart extends brand to home-building
Oct 21 2005 6:24PM (CT)
CARY, N.C. (AP) - What could be better than waking up on Martha Stewart sheets in a Martha Stewart bed, drying off after your shower with Martha Stewart towels, gardening with Martha Stewart tools, and ending your day with a Martha Stewart recipe served on Martha Stewart plates at a Martha Stewart table?
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AT&T earns $520 million in third quarter
Oct 21 2005 6:24PM (CT)
NEW YORK (AP) - AT&T Corp. painted a positive picture Friday with what may be its final earnings report before becoming part of SBC Communications Inc., topping Wall Street forecasts with third-quarter income of $520 million and boosting its revenue forecast for the second time this year.
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Northwest resumes hiring replacements
Oct 21 2005 6:23PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. resumed hiring permanent replacements for striking mechanics on Friday, after their union refused to put the company's latest offer to a vote.
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Small-time inventors take on Congress
Oct 21 2005 6:23PM (CT)
WASHINGTON (AP) - In the world of small-time inventors, George Margolin, 75, of Newport Beach, Calif., is a resounding success. He has patented a syringe that prevents unwanted needle-pricks, a folding keyboard that was licensed by Hewlett Packard and 25 other devices from the practical to the arcane.
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News Corp. shareholders express dissent
Oct 21 2005 6:22PM (CT)
NEW YORK (AP) - In a show of dissent against Rupert Murdoch, shareholders of News Corp. withheld as much as 15 percent of their vote to re-elect four directors at the media conglomerate's annual meeting Friday to protest the company's failure to consult them on a takeover defense measure.
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Treasurys loosen bearish shackles
Oct 21 2005 5:19PM (CT)
NEW YORK (AP) - U.S. Treasury prices staged an impressive rebound Friday, dampening recent bearish sentiment among investors.
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Oil prices edge higher due to Wilma
Oct 21 2005 4:47PM (CT)
NEW YORK (AP) - Oil prices shook off early weakness and edged higher Friday as Hurricane Wilma sent large swells into the Gulf of Mexico and forced several operators to evacuate workers and shut down platforms.
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Sources: Dunkin' Donuts gets buy offer
Oct 21 2005 4:44PM (CT)
BOSTON (AP) - Three private-equity investment firms have jointly bid to buy the parent company of Dunkin' Donuts and two other restaurant chains that are being sold by France's Pernod Ricard SA, two sources involved in the process said Friday.
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Delphi presents contract offer to unions
Oct 21 2005 4:35PM (CT)
DETROIT (AP) - Delphi Corp. provided the United Auto Workers and other unions with proposed new contracts Friday that could include cuts in wages and benefits. The plan, which remains under wraps, was blasted by union leaders.
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Seven-Eleven Japan ups offer for shares
Oct 21 2005 4:29PM (CT)
DALLAS (AP) - Shares of 7-Eleven, the world's largest convenience-store chain, hit a record high on Friday after parent Seven-Eleven Japan Co. raised its offer for the 27.3 percent stake in the U.S. company it doesn't already own to $1.38 billion.
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EMC appoints Joe Tucci as chairman
Oct 21 2005 4:28PM (CT)
HOPKINTON, Mass. (AP) - EMC Corp. said on Friday that president and chief executive Joe Tucci will add the title of chairman.
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Maytag posts 3rd-quarter loss of $18.2M
Oct 21 2005 4:25PM (CT)
DES MOINES, Iowa (AP) - Maytag Corp., the nation's No. 3 appliance maker that is being acquired by bigger rival Whirlpool Corp., on Friday reported a steeper-than-expected loss in the third quarter amid excess capacity and high prices for oil and materials.
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Judges allows suit against Dow Chemical
Oct 21 2005 4:20PM (CT)
SAGINAW, Mich. (AP) - About 2,000 people who live along the Tittabawassee River may jointly sue Dow Chemical Co. for damages related to dioxin contamination in the area, a judge ruled Friday.
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Wyeth 3Q profit plunges 39 percent
Oct 21 2005 3:59PM (CT)
TRENTON, N.J. (AP) - Wyeth's third-quarter profit plunged 39 percent, the drug maker said Friday, citing charges for restructuring and repatriating foreign profits while last year the company had a large benefit from a one-time tax gain. Shares of Wyeth fell nearly 3 percent.
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Alltel posts 12 percent gain in 3Q profit
Oct 21 2005 3:51PM (CT)
LITTLE ROCK, Ark. (AP) - The telecommunications company Alltel Corp. said Friday its third-quarter profit rose 12 percent due largely to growth in its wireless business.
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Schlumberger 3Q earnings rise 70 percent
Oct 21 2005 3:44PM (CT)
NEW YORK (AP) - Oil field services provider Schlumberger Ltd. on Friday said rapid growth in worldwide exploration and production and higher-priced contracts fueled a 70 percent increase in third-quarter profits. The company said its results were hurt by recent hurricanes in the Gulf of Mexico.
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Xerox 3rd-quarter profit down on charges
Oct 21 2005 3:30PM (CT)
HARTFORD, Conn. (AP) - Xerox Corp. on Friday said third-quarter profit slid sharply on litigation and other one-time charges, but the results excluding those items met Wall Street expectations.
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Small Parmalat bondholders oppose swap
Oct 21 2005 3:16PM (CT)
MILAN, Italy (AP) - Parmalat SpA said Friday that a group of its smaller former bondholders is contesting the swap ratios at which the dairy company's debt was converted into new shares at a fraction of the nominal value.
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Google shares reach all-time high
Oct 21 2005 3:07PM (CT)
SAN FRANCISCO (AP) - Google Inc. shares surged 12 percent in early trading Friday, hitting an all-time high after the Internet search juggernaut announced third-quarter financial figures that astounded even the most bullish analysts, as well as its own management team.
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U.S. oil and gas rig count down eight
Oct 21 2005 2:56PM (CT)
HOUSTON (AP) - The number of rigs actively exploring for oil and natural gas in the United States decreased by eight this week to 1,474.
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Washington state proposes new power plant
Oct 21 2005 2:37PM (CT)
RICHLAND, Wash. (AP) - When an ambitious plan to build five nuclear power plants in Washington state fell to pieces in the 1980s, it caused the largest municipal bond default in U.S. history.
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Dillard's accused of racial profiling
Oct 21 2005 1:15PM (CT)
LITTLE ROCK (AP) - A new lawsuit accuses department-store chain Dillard's Inc. of engaging in racial profiling in efforts to thwart shoplifters.
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IPO for NCI prices at $10.50 per share
Oct 21 2005 1:04PM (CT)
NEW YORK (AP) - The initial public offering of NCI Inc., which provides information technology services to the federal government, priced Thursday evening at $10.50 a share for 5.15 million shares.
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Ex-Winstar exec to pay to settle charges
Oct 21 2005 1:04PM (CT)
WASHINGTON (AP) - The Securities and Exchange Commission said Thursday that a former Winstar Communications Inc. executive agreed to pay $50,000 to settle civil charges that he was among the people who helped Lucent Technologies Inc. perpetrate a massive accounting fraud.
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SanDisk stock up; 3Q earnings top views
Oct 21 2005 1:02PM (CT)
AUSTIN, Texas (AP) - SanDisk Corp. stock rose Friday, in the first day of trading after the maker of flash memory cards reported results for the latest quarter that beat Wall Street forecasts substantially.
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Japan deflation cuts prices, hurts economy
Oct 21 2005 1:00PM (CT)
TOKYO (AP) - A decade of deflation has helped reduce Japan's notoriously high prices _ everything from clothing and telephone bills to beer and real estate has gotten at least somewhat cheaper.
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BSkyB agrees to acquire Easynet Group
Oct 21 2005 12:51PM (CT)
LONDON (AP) - Satellite TV operator British Sky Broadcasting Group PLC said Friday it has agreed to buy high-speed Internet provider Easynet Group PLC for 211 million pounds ($375.1 million).
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Compass Group suspends two executives
Oct 21 2005 12:48PM (CT)
LONDON (AP) - Compass Group PLC, the world's largest catering company, said Friday it has suspended two executives while it investigates a contract between one of its subsidiaries and the United Nations.
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GAO: Weak financial management plagues SEC
Oct 21 2005 12:45PM (CT)
WASHINGTON (AP) - The Securities and Exchange Commission has been plagued by weak financial management that caused budget overruns of nearly $50 million in two years, congressional auditors said in a report released Friday.
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Judge OKs United disclosure statement
Oct 21 2005 12:43PM (CT)
CHICAGO (AP) - United Airlines' bid to come out of bankruptcy in early 2006 took an important step forward Friday when a judge approved the disclosure statement that is a key part of its exit plan.
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Court to rule on executives' fate in Dec.
Oct 21 2005 12:30PM (CT)
KARLSRUHE, Germany (AP) - The fate of Germany's most prominent banker and five others over large payments to executives during the 2000 takeover of Mannesmann by Vodafone will be decided in December, a court ruled Friday.
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Germany revises forecast for 2006 growth
Oct 21 2005 12:18PM (CT)
FRANKFURT, Germany (AP) - Germany's outgoing government on Friday followed the country's top economists in revising its 2006 growth forecast downward amid high oil prices, estimating that Europe's biggest economy will expand by only 1.2 percent.
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LM Ericsson 3Q earnings climb 22 percent
Oct 21 2005 11:54AM (CT)
STOCKHOLM, Sweden (AP) - Swedish telecom LM Ericsson said Friday its third-quarter earnings grew 22 percent as sales of wireless network equipment surged in North and South America.
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Takeover bid for Rentokil Initial dropped
Oct 21 2005 11:48AM (CT)
LONDON (AP) - The former non-executive chairman of liquor company Allied Domecq PLC on Friday abandoned a three-month attempt to take charge of pest-control, security and hygiene company Rentokil Initial PLC.
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EU, U.S. report progress on aviation deal
Oct 21 2005 11:40AM (CT)
BRUSSELS, Belgium (AP) - The EU and the United States ended five days of talks Friday saying they had made progress toward an agreement to open up American airports to more European airlines, and hoped to clinch a deal next month.
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Degussa plans round of price increases
Oct 21 2005 10:08AM (CT)
BERLIN (AP) - German chemical company Degussa AG said Friday it plans a round of price increases as it battles with rising prices for energy and raw materials.
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Hibernia posts 3Q loss on storm charges
Oct 21 2005 10:01AM (CT)
NEW ORLEANS (AP) - In what is likely to be its last earnings report as a stand-alone bank, Hibernia Corp. on Friday said that hurricanes Katrina and Rita caused heavy losses in the third quarter.
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Gazprom completes purchase of Sibneft
Oct 21 2005 7:37AM (CT)
MOSCOW (AP) - Russia's state-controlled gas company Gazprom, the largest producer of natural gas in the world, has completed the purchase of Sibneft oil company for more than $13 billion, Sibneft said Friday.
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Saab 3Q earnings rise 38 percent to $31M
Oct 21 2005 6:15AM (CT)
STOCKHOLM, Sweden (AP) - Swedish defense and aerospace company Saab AB said Friday its net profit rose 38 percent in the third quarter thanks in part to large orders from the German air force and navy.
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British economic growth slows in 3rd qtr.
Oct 21 2005 5:18AM (CT)
LONDON (AP) - Britain's economic growth slowed to 0.4 percent in the third quarter because of weaker oil output, according to figures released Friday by the National Statistics Office _ the fifth quarter in a row to show below-trend expansion.
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Southwest Airlines returns to Denver
Oct 21 2005 5:01AM (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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Japanese stocks rise for second day
Oct 21 2005 4:31AM (CT)
TOKYO (AP) - Japanese stocks eked out gains Friday, rising for a second day, with some investors buying stocks that had fallen in the market's recent slide. The dollar weakened against the yen and euro.
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Ericsson reports 22 percent growth in 3Q
Oct 21 2005 4:20AM (CT)
STOCKHOLM, Sweden (AP) - Wireless equipment maker LM Ericsson said Friday its third-quarter earnings grew 22 percent as telecom operators worldwide continued to upgrade and expand their networks.
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Toyota scrambling to produce hybrids
Oct 21 2005 4:10AM (CT)
TOKYO (AP) - When Toyota unveiled its first hybrid vehicle nearly a decade ago, many people were skeptical about its environmentally friendly gas-and-electric-powered engine that dramatically boosts mileage.
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Pa. winemakers produce bountiful harvest
Oct 21 2005 2:54AM (CT)
CHALK HILL, Pa. (AP) - High temperatures, good sunlight and dry weather during the summer and early fall produced an unexpected bounty for the region's winemakers.
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Merkel faces opposition on economic issues
Oct 21 2005 2:44AM (CT)
FRANKFURT, Germany (AP) - Chancellor-designate Angela Merkel campaigned on pledges to get Germany's economy moving. To deliver, she may have to battle not just ideological foes, but also supposed allies such as incoming Economy Minister Edmund Stoiber.
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Dollar falls in Asian trading against yen
Oct 21 2005 2:27AM (CT)
TOKYO (AP) - The dollar fell in Asian trading Friday against both the yen and the euro as investors began to think that the hopes for higher U.S. interest rates may not be enough to keep boosting the dollar.
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Toshiba raises half-year profit forecast
Oct 21 2005 1:13AM (CT)
TOKYO (AP) - Toshiba Corp. revised upward its forecast for group profit for the fiscal half-year Friday as solid sales in chips and other electronics parts helped lift earnings.
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Dongfeng gets OK for Hong Kong listing
Oct 21 2005 1:10AM (CT)
SHANGHAI, China (AP) - Dongfeng Motor Corp., one of China's biggest automakers, has gained approval to issue shares on the Hong Kong Stock Exchange in a $600 million initial public offering planned for December, state media reported Friday.
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Pfizer profits slump, Lilly ekes out gain
Oct 21 2005 12:37AM (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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PNC, Bank of New York report higher profit
Oct 21 2005 12:26AM (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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Ford to announce 'significant' layoffs
Oct 21 2005 12:25AM (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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