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Dell unveils new data recovery system
Oct 25 2005 11:55PM (CT)
ROUND ROCK, Texas (AP) - Dell Inc. announced an all-inclusive way Wednesday to help consumers who've accidentally deleted precious photos or lost valuable data because of a hard drive crash.
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Japanese stocks rise; dollar lower
Oct 25 2005 11:15PM (CT)
TOKYO (AP) - Japanese stocks rose Wednesday morning as traders bought shares of commodities companies, helped by the rally earlier in crude futures. Retail, financial and real estate shares also gained. The dollar rose against the yen.
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Three firms subpoenaed over heart devices
Oct 25 2005 11:11PM (CT)
MINNEAPOLIS (AP) - Federal prosecutors have subpoenaed documents related to pacemakers and defibrillators from at least three companies that manufacture the devices.
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Ameritrade's fourth-quarter profit rises
Oct 25 2005 11:09PM (CT)
OMAHA, Neb. (AP) - Expect online brokerage Ameritrade Holding Corp. to go after long-term investors and expand its products after it acquires rival TD Waterhouse, the company said Tuesday after reporting a sharply higher fiscal fourth-quarter profit.
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Wal-Mart weighs big health care changes
Oct 25 2005 8:44PM (CT)
SPRINGFIELD, Mo (AP) - Wal-Mart is considering sweeping changes in health care and other employee benefits to halt rising costs and mounting criticism, including switching to health savings accounts, opening more in-house health clinics, hiring more part-time employees and recruiting healthier workers.
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Amazon profits sink 44 pct.; stock falls
Oct 25 2005 8:19PM (CT)
SEATTLE (AP) - Internet retailer Amazon.com Inc. said Tuesday that its third-quarter profits fell 44 percent, in large part because of the settlement of a patent-infringement lawsuit. The company also offered a tepid outlook for sales in the coming holiday season and its shares sagged more than 7 percent in late-session trading.
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Chiron earnings rise, but still miss views
Oct 25 2005 7:56PM (CT)
SAN FRANCISCO (AP) - Embattled Chiron Corp. reported Tuesday that its third-quarter earnings nearly doubled, mostly because at that time last year the biotechnology company was caught up in a messy manufacturing problem that cost the United States nearly half its expected 100 million flu shot stockpile.
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IBM, others to create open-source programs
Oct 25 2005 7:54PM (CT)
BOSTON (AP) - Pushing the "open source" idea deeper into computing, several companies led by IBM Corp. are teaming up to develop programs for letting big businesses uniformly manage their increasingly vast warehouses of data.
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St. Jude discloses subpoena for devices
Oct 25 2005 7:27PM (CT)
LITTLE CANADA, Minn. (AP) - Federal prosecutors have subpoenaed documents related to implanted heart devices from St. Jude Medical Inc., the company said Tuesday.
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HUD doesn't back proposed oversight bill
Oct 25 2005 6:38PM (CT)
ORLANDO, Fla. (AP) - The Department of Housing and Urban Development does not support the current House version of proposed legislation designed to regulate housing agencies Freddie Mac and Fannie Mae, a HUD official told mortgage banking professionals at an industry conference here on Tuesday.
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Delphi asks UAW to OK large wage cuts
Oct 25 2005 6:31PM (CT)
DETROIT (AP) - Delphi Corp., which filed for bankruptcy protection earlier this month, is asking the United Auto Workers to agree to pay cuts of more than 60 percent for hourly workers and to relinquish health and pension benefits and vacation time, according to a summary of the auto supplier's proposal distributed to union members in Indiana.
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BP third-quarter profit rises 34 percent
Oct 25 2005 6:09PM (CT)
LONDON (AP) - Energy group BP PLC, one of the world's largest oil companies, reported a 34 percent rise in quarterly profit Tuesday as record energy prices more than outweighed hurricane damage to its rigs and refineries.
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Warner Bros. reorganizes, creates new unit
Oct 25 2005 5:51PM (CT)
LOS ANGELES (AP) - Warner Bros. Entertainment has reorganized its home video and digital distribution efforts, creating a new group that will encompass games, wireless, Internet strategy and anti-piracy efforts.
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Report: Rx drug sales to soar in U.S.
Oct 25 2005 5:49PM (CT)
HARTFORD, Conn. (AP) - Prescription drug sales are projected to soar in the United States next year, fueled in part by a $400 billion expansion of the nation's Medicare program, a pharmaceutical research company reported Tuesday.
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BellSouth posts slight 3Q profit increase
Oct 25 2005 5:47PM (CT)
ATLANTA (AP) - BellSouth Corp., the part owner of Cingular Wireless and the dominant local telephone provider in the Southeast, reported a 2.3 percent increase in third-quarter profit on Tuesday, spurred by improving wireless and broadband margins.
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DaimlerChrysler profit drops 21 pct. in 3Q
Oct 25 2005 5:43PM (CT)
DETROIT (AP) - DaimlerChrysler AG on Tuesday reported a $910 million profit for the third quarter, buoyed by sales of new products at its Mercedes and Chrysler divisions. The results were in sharp contrast to U.S. rivals General Motors Corp. and Ford Motor Co., which reported substantial losses last week.
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Sale or spinoff of KBR said not imminent
Oct 25 2005 5:41PM (CT)
HOUSTON (AP) - Halliburton Co. remains intent on selling or spinning off KBR, its engineering and construction unit that is the largest U.S. contractor in Iraq, but executives at the oilfield-services conglomerate told analysts Tuesday no such action is imminent.
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Qwest executives get $6.7 million in stock
Oct 25 2005 5:35PM (CT)
DENVER (AP) - Two Qwest Communications International Inc. executives have received about $6.7 million worth of restricted stock in recognition of work achievements.
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Wilma still causing airport woes in Fla.
Oct 25 2005 5:33PM (CT)
MIAMI (AP) - South Florida airports said it would be Wednesday at the earliest before they fully recover from Hurricane Wilma, which forced thousands of flights to be canceled and cost the airline industry tens of millions of dollars in revenue.
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Flextronics posts loss; shares fall
Oct 25 2005 5:32PM (CT)
SAN FRANCISCO (AP) - Flextronics International Ltd. Tuesday posted a quarterly loss and lowered its financial forecast to reflect the sale of two of its divisions and the loss of two European cell-phone customers.
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Burlington Northern 3Q profit surges
Oct 25 2005 5:30PM (CT)
FORT WORTH, Texas (AP) - Burlington Northern Santa Fe Corp., the nation's second-largest railroad operator, said Tuesday its profit surged in the third quarter on strong demand for freight shipping and fourth-quarter earnings per share would rise 25 percent from a year ago.
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DuPont posts third-quarter loss
Oct 25 2005 5:28PM (CT)
DOVER, Del. (AP) - DuPont, the third-largest chemical maker in the U.S., said on Tuesday it had a third-quarter loss after accounting for a tax-related charge and damage from hurricanes Katrina and Rita.
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Southern 3Q profit grows 12 percent
Oct 25 2005 5:27PM (CT)
ATLANTA (AP) - Energy provider Southern Co., parent of electricity utilities in the Southeast, on Tuesday said profit grew 12 percent in the third quarter, as higher electricity usage during a hot September overcame damage due to Hurricane Katrina.
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Consumer confidence unexpectedly falls
Oct 25 2005 5:26PM (CT)
NEW YORK (AP) - The outlook for the holiday shopping season darkened Tuesday as the latest consumer confidence reading showed Americans even more pessimistic about the economy during October. Hurricanes, surging gasoline prices and worries about the job market took a further toll on consumer psyches.
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Plan to take Cablevision private dropped
Oct 25 2005 5:25PM (CT)
NEW YORK (AP) - The family that controls Cablevision Systems Corp. has abandoned a bid to take the company private in the latest twist in a year-long saga of turmoil at the New York-area cable TV provider.
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Defense contractors post mixed earnings
Oct 25 2005 5:24PM (CT)
COLLEGE PARK, Md. (AP) - Hurricane damage to Gulf of Mexico shipyards battered Northrop Grumman's third-quarter earnings, the company reported Tuesday, while fellow defense contractor Lockheed Martin said it had higher quarterly profits across its space, information technology and aircraft divisions.
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Tuesday's Commodities Roundup
Oct 25 2005 5:20PM (CT)
NEW YORK (AP) - Crude-oil futures leapt $2 past $62.50 a barrel amid a cold snap in the U.S. Northeast and a report that ConocoPhillips Inc. lost power at a New Jersey refinery. Natural gas prices set a record.
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Lockheed 3Q earnings jump 39 percent
Oct 25 2005 5:14PM (CT)
COLLEGE PARK, Md. (AP) - Third-quarter earnings grew 39 percent for Lockheed Martin Corp., the nation's largest defense contractor and maker of the F-16 fighter jet, as profits rose across the company's space, information technology and aircraft divisions.
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Group: Mortgage lending to fall in 2006
Oct 25 2005 5:06PM (CT)
ORLANDO, Fla. (AP) - Mortgage lending in the United States is expected to drop 18.7 percent in 2006 as borrowing costs rise, cutting into the demand for housing and mortgage refinancings that helped drive the real estate boom, a mortgage banking industry trade group said on Tuesday.
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Tax benefit boosts Avaya 4Q earnings
Oct 25 2005 5:01PM (CT)
WASHINGTON (AP) - Avaya Inc., the maker of corporate telephone systems, Tuesday said a big one-time tax benefit sharply boosted fiscal fourth-quarter earnings.
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Fed may be more open under Bernanke
Oct 25 2005 4:59PM (CT)
WASHINGTON (AP) - Ben Bernanke may bring more openness to the secretive Federal Reserve by spelling out what the central bank thinks is an acceptable range of inflation. And that could help consumers and investors better understand where interest-rate policy is heading.
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Study: Delaware No. 1 for work environment
Oct 25 2005 4:55PM (CT)
BOSTON (AP) - Delaware ranked first and Louisiana last in a University of Massachusetts study that tried to measure where workers are treated best, based on factors including job opportunities, job quality and workplace fairness.
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International Paper 3Q earnings up sharply
Oct 25 2005 4:54PM (CT)
HARTFORD, Conn. (AP) - International Paper Co., the world's largest paper company, said Tuesday its third-quarter earnings rose sharply due to the sale of a New Zealand forest products company and a federal tax settlement.
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Primedia shares tumble as CEO departs
Oct 25 2005 4:41PM (CT)
NEW YORK (AP) - Shares of Primedia Inc. plunged Tuesday, a day after the struggling magazine publisher announced the departure of its chief executive and said it is considering a split-up.
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Oil prices rise on cold weather worries
Oct 25 2005 4:39PM (CT)
NEW YORK (AP) - Crude oil futures rallied above $62 a barrel Tuesday on worries that a cold winter may raise U.S. demand for heating oil, putting a strain on storm-ravaged oil facilities in the Gulf of Mexico.
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Cruise lines shuffle voyages after Wilma
Oct 25 2005 4:37PM (CT)
MIAMI (AP) - Cruise lines shuffled ship itineraries Tuesday after Hurricane Wilma shut down the industry's two biggest ports, keeping thousands of passengers at sea for an extra day or two and forcing a similar number to decide whether they wanted to take shortened trips.
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Omnicom 3Q profit climbs 11 percent
Oct 25 2005 4:30PM (CT)
NEW YORK (AP) - Omnicom Group Inc., the world's largest advertising group, Tuesday said third-quarter profit gained 11 percent, fueled by strong performances across its businesses, except public relations.
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McDonald's Chipotle files $100 million IPO
Oct 25 2005 4:23PM (CT)
DENVER (AP) - Chipotle Mexican Grill Inc., the McDonald's-owned chain best known for its hefty burritos, filed paperwork Tuesday for an initial public offering of $100 million worth of stock.
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U.S. Steel 3Q profit falls 70 percent
Oct 25 2005 4:05PM (CT)
PITTSBURGH (AP) - United States Steel Corp. said Tuesday third-quarter profit fell 70 percent as two major blast furnaces were rebuilt and costs increased, but still managed to beat Wall Street expectations.
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Rogers fights back by suing Refco
Oct 25 2005 4:03PM (CT)
NEW YORK (AP) - Investment guru Jim Rogers suffered a black eye in the Refco Inc. collapse, but he's now taking some swings of his own.
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HCA third-quarter profit climbs 23 percent
Oct 25 2005 3:59PM (CT)
NASHVILLE, Tenn. (AP) - HCA Inc., the nation's largest for-profit hospital operator, said Tuesday its third-quarter profit rose 23 percent as revenue increased slightly and the company incurred fewer costs for uninsured patients and bad debt.
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Chicago Mercantile Exchange profits rise
Oct 25 2005 3:36PM (CT)
WASHINGTON (AP) - Chicago Mercantile Exchange Holdings Inc., the country's largest futures exchange, on Tuesday reported third-quarter earnings rose 30 percent, thanks to a surge in trading volume.
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Hurricanes cause spike in large layoffs
Oct 25 2005 3:23PM (CT)
NEW YORK (AP) - Hurricanes Katrina and Rita triggered a surge in layoffs in September, with large-scale job cuts jumping to their highest level in nearly four years.
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Vioxx judge amends ruling on key FDA memo
Oct 25 2005 3:12PM (CT)
ATLANTIC CITY, N.J. (AP) - A day after refusing to admit a U.S. Food and Drug Administration memo into evidence, the judge hearing a Vioxx product liability case had a change of heart, telling lawyers for both sides they could discuss its key conclusions but not show it to jurors.
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Santander said barred from hostile takeover
Oct 25 2005 12:46PM (CT)
PHILADELPHIA (AP) - Shares of Sovereign Bancorp Inc. fell more than 8 percent in afternoon trading Tuesday as the bank's chief executive said its sale of a 20 percent stake to Spain's largest bank is structured to preclude a hostile takeover.
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EU regulators raid pharmaceutical firm
Oct 25 2005 12:33PM (CT)
BRUSSELS, Belgium (AP) - EU regulators on Tuesday raided pharmaceutical firms in Denmark, Italy and Hungary suspected of running a cartel to shut out generic rivals.
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Friends, colleagues praise Bernanke
Oct 25 2005 12:32PM (CT)
PRINCETON, N.J. (AP) - As a member of the Montgomery Township public school board, Ben Bernanke was known for gracefully leading two contract negotiations between the once-contentious board and the teacher's union.
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Goldman e-mails show NYSE-Archipelago deal
Oct 25 2005 12:29PM (CT)
NEW YORK (AP) - A Goldman Sachs Group Inc. employee expressed surprise in a series of e-mails about the investment bank's unusual _ some say conflicting _ roles in shepherding the New York Stock Exchange's acquisition of Archipelago Holdings Inc.
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DaimlerChrysler income drops 21 pct. in 3Q
Oct 25 2005 12:04PM (CT)
BERLIN (AP) - U.S.-German automaker DaimlerChrysler AG on Tuesday reported a 21 percent drop in net profit for the third quarter compared to the same period a year ago, when the earnings were boosted by tax-free income from the sale of a stake in Hyundai.
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TeliaSonera's 3Q net profit slips
Oct 25 2005 11:43AM (CT)
STOCKHOLM, Sweden (AP) - TeliaSonera AB, the Nordic region's biggest telecommunications operator, said Tuesday that third-quarter profit slipped on restructuring costs.
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Jet Airways buys 10 Airbus A330 jets
Oct 25 2005 11:15AM (CT)
PARIS (AP) - Indian airline Jet Airways has signed a contract to purchase 10 Airbus A330-200 jets, the European aircraft maker said Tuesday, in a deal worth an estimated $1.6 billion at list price.
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McDonald's plans nutrition info on packages
Oct 25 2005 11:11AM (CT)
CHICAGO (AP) - McDonald's Corp. announced Tuesday that it will display nutrition information on the packaging for most of its menu items next year.
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EU appeal court reduces beer cartel fine
Oct 25 2005 10:11AM (CT)
BRUSSELS, Belgium (AP) - The European Union's appeal court on Tuesday reduced an antitrust fine that EU regulators imposed on French dairy group Groupe Danone SA for controlling Belgian beer sales.
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Ericsson buys parts of British rival
Oct 25 2005 9:55AM (CT)
STOCKHOLM, Sweden (AP) - Wireless equipment maker LM Ericsson said Tuesday it is buying the international services and telecommunications equipment businesses of British rival Marconi Corp. PLC for about $2.1 billion.
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Spain's Banco Santander posts profit
Oct 25 2005 9:44AM (CT)
MADRID, Spain (AP) - Spain's Banco Santander Central Hispano SA, the biggest bank in the euro zone, said Tuesday that third-quarter profit fell from a year earlier, when it had a one-time gain.
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Existing home sales stay strong
Oct 25 2005 9:43AM (CT)
WASHINGTON (AP) - Sales of previously owned homes held steady in September at the second-highest level on record as demand was bolstered by hurricane refugees, a real estate trade group said Tuesday.
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Northrop Grumman 3Q profit up slightly
Oct 25 2005 9:33AM (CT)
LOS ANGELES (AP) - Defense contractor Northrop Grumman Corp., the world's largest shipbuilder, on Tuesday said its profit grew more than 5 percent in the third quarter despite costs from hurricane-related damage.
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U.S. Steel 3Q profit falls 70 percent
Oct 25 2005 9:24AM (CT)
PITTSBURGH (AP) - United States Steel Corp. said Tuesday that third-quarter profit fell 70 percent as two major blast furnaces were rebuilt and costs increased.
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Swedish truck maker Volvo reports profit
Oct 25 2005 9:00AM (CT)
STOCKHOLM, Sweden (AP) - Sweden's AB Volvo said Tuesday that its third-quarter profits more than doubled as demand surged for its buses, trucks and construction equipment, especially in North and South America.
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BBC announces plans for Arabic TV
Oct 25 2005 8:31AM (CT)
LONDON (AP) - The BBC World Service said Tuesday it would launch an Arabic TV and information service, and end services in 10 other languages to help pay for the venture.
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Ex-antitrust chief as Galileo mediator
Oct 25 2005 7:13AM (CT)
BRUSSELS, Belgium (AP) - The European Union on Tuesday named Karel van Miert, its former antitrust chief, to act as a mediator between EU industry and Europe's multibillion-dollar Galileo satellite navigation system that will rival the American GPS system.
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India's central bank sees faster growth
Oct 25 2005 6:57AM (CT)
BOMBAY, India (AP) - India's central bank said Tuesday the Indian economy would likely expand faster this year than predicted, but cautioned that high global oil prices could lead to rising domestic inflation and hamper the economy's long-term prospects.
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Carlyle Group to acquire Xugong
Oct 25 2005 6:57AM (CT)
SHANGHAI, China (AP) - The U.S. investment company Carlyle Group will pay $375 million for a controlling stake in China's Xugong Group Construction Machinery Co. in the country's first leveraged buyout, the companies said Tuesday.
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Bernanke vows to uphold Greenspan policies
Oct 25 2005 6:53AM (CT)
WASHINGTON (AP) - Ben Bernanke, a plain-speaking former economics professor, was chosen Monday by President Bush to be the next chairman of the Federal Reserve, the most influential economic policy job in the world.
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Electrolux reports sharp profit drop
Oct 25 2005 6:47AM (CT)
STOCKHOLM, Sweden (AP) - Household appliance maker Electrolux AB said Tuesday its third-quarter earnings fell 78 percent as the company was hit by restructuring charges and the divestment of Indian operations.
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China economy set to expand at slower rate
Oct 25 2005 6:47AM (CT)
SHANGHAI, China (AP) - China's urban spending on construction, factory equipment and other fixed assets rose at its fastest pace so far this year in September, the government said Tuesday, though the country's top economic planner forecast slower growth in years to come.
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China steel association urges output cut
Oct 25 2005 6:29AM (CT)
SHANGHAI, China (AP) - China's biggest steel industry group has urged its members to cut output by 5 percent in the last three months of this year as it seeks to better balance supply and demand, hoping to stem falling prices.
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United Auto Group 3Q profit even with 2004
Oct 25 2005 6:02AM (CT)
BLOOMFIELD HILLS, Mich. (AP) - Auto retailer United Auto Group Inc. on Tuesday said earnings for the third quarter were about even with a year-ago period that benefited from certain one-time items.
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BP reports 3Q profit increase of 34 pct.
Oct 25 2005 5:44AM (CT)
LONDON (AP) - Energy group BP PLC, one of the world's largest oil companies, reported Tuesday that profits rose 34 percent in the third quarter as high oil prices outweighed the impact of hurricanes in North America.
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Consumers could face price spikes at pump
Oct 25 2005 5:04AM (CT)
NEW YORK (AP) - While the most dire predictions have been largely dismissed as alarmist _ gasoline prices in the U.S. of up to $6 a gallon and crude oil climbing to $105 a barrel in 2007 _ analysts warn consumers could face new price spikes and won't soon be returning to pump prices that propelled the popularity of gas-guzzling SUVs.
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Merck more than doubles 3Q profit
Oct 25 2005 4:19AM (CT)
BERLIN (AP) - Drug maker Merck KGaA on Tuesday raised its outlook after its third-quarter net profit more than doubled because of increased sales in its liquid crystal display business and one-off gains from a pair of drug licensing deals.
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BP appoints panel to assess safety issues
Oct 25 2005 4:10AM (CT)
HOUSTON (AP) - Former Secretary of State James A. Baker III will head a panel investigating safety and management oversight at BP Products North America Inc. following a refinery explosion and fire that killed 15 people and injured 170.
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Bernanke favors straight talk on economics
Oct 25 2005 3:49AM (CT)
WASHINGTON (AP) - Ben Bernanke, an economist known for intellectual curiosity, posed a question in The Wall Street Journal five years ago: "What Happens When Greenspan is Gone?"
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How can Bernanke succeed Greenspan?
Oct 25 2005 2:50AM (CT)
WASHINGTON (AP) - When Paul Volcker stepped down as chairman of the Federal Reserve in 1987, there was considerable hand-wringing over who could fill the big shoes of this 6-foot-7, cigar-chomping, inflation-fighting colossus.
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Global bird trade raises bird flu concerns
Oct 25 2005 1:51AM (CT)
LONDON (AP) - Wild birds caught in the jungles of Africa and South America end up for sale in the pet shops and markets of Europe, part of an often illicit global trade that is raising increasing concern as a deadly avian flu spreads around the world.
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Overfishing imperils Hawaiian ecosystem
Oct 25 2005 12:06AM (CT)
HONOLULU (AP) - Commercial fishing has sharply depleted numbers of several species in the Northwestern Hawaiian Islands and threatens the health of the pristine island chain's ecosystem, according to a private study released Monday.
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