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First soy fuel-injection facility opens
Oct 28 2005 7:54PM (CT)
MIDDLETOWN, Pa. (AP) - Pennsylvania is home the nation's first fuel-blending facility that can combine a soy additive with diesel or other fuels before they are put into tanker trucks, officials said Friday.
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Realtors defiant in face of gov't lawsuit
Oct 28 2005 7:12PM (CT)
SAN FRANCISCO (AP) - Typically cheery real estate agents were seething Friday as they discussed the government's attempts to force them to share home listings _ the bread and butter of the realty business _ with Web-based competitors.
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EU makes new offer to cut farm tariffs
Oct 28 2005 6:42PM (CT)
BRUSSELS, Belgium (AP) - The European Union offered on Friday to reduce average agricultural tariffs by 46 percent, its steepest ever farm-tariff cuts, in a proposal aimed at breaking a deadlock in world trade talks.
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FCC fails to agree on telecom mergers
Oct 28 2005 6:39PM (CT)
WASHINGTON (AP) - Federal regulators failed to reach agreement Friday on whether to approve SBC Communications' takeover of AT&T, and Verizon Communications' purchase of MCI.
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Tenneco Automotive shortening its name
Oct 28 2005 5:52PM (CT)
LAKE FOREST, Ill. (AP) - Car parts maker Tenneco Automotive Inc. is dropping Automotive from its name to better reflect the expanded number of markets it serves, the company announced Friday.
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Amazon.com, drugstore.com end partnership
Oct 28 2005 5:31PM (CT)
SEATTLE (AP) - Amazon.com Inc. and drugstore.com inc. are ending a partnership in which the online pharmacy fulfilled some orders for Amazon.com.
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Closings set for Monday in Vioxx case
Oct 28 2005 5:26PM (CT)
ATLANTIC CITY, N.J. (AP) - Lawyers for Merck & Co. and a postal worker suing the company over its now withdrawn painkiller Vioxx met privately with the judge in the case again Friday, negotiating the wording of instructions she will give to jurors before they begin deliberating.
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Zucker bids $853 million for Hudson's Bay
Oct 28 2005 5:18PM (CT)
TORONTO (AP) - U.S. businessman Jerry Zucker made a play Friday to take over Hudson's Bay, in a deal that values Canada's oldest company at C$1 billion ($853 million), but his company denied it's planning to gut the troubled retailer.
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Delta board OKs director compensation cut
Oct 28 2005 5:08PM (CT)
WASHINGTON (AP) - Delta Air Lines Inc.'s board has agreed to cut their own compensation to help the bankrupt carrier's cost-reduction efforts, according to a regulatory filing Friday with the Securities and Exchange Commission.
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Delphi CEO confident on labor deal
Oct 28 2005 5:06PM (CT)
WASHINGTON (AP) - Delphi Corp. Chairman and CEO Robert S. "Steve" Miller said Friday that the company's proposal to cut some workers' pay by more than 60 percent was not intended to provoke a strike and he remains confident a deal can be reached in the coming months.
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Head of hybrid programs to leave Ford
Oct 28 2005 5:05PM (CT)
DETROIT (AP) - Ford Motor Co.'s high-profile head of hybrid programs is leaving the auto maker, at a time when Ford is relying heavily on its gas-electric hybrid-vehicle program to help turn around its struggling automotive operations.
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Wal-Mart strikes at critical movie
Oct 28 2005 5:03PM (CT)
SPRINGFIELD, Mo. (AP) - Wal-Mart Stores Inc., under a new barrage of criticism for how it treats its workers, is going on the offensive a week before the launch of a documentary that attacks the retail giant. The company alleges that director Robert Greenwald's movie "Wal-Mart: The High Cost of Low Prices" gets basic facts wrong.
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Treasurys settle lower, cap bearish week
Oct 28 2005 4:52PM (CT)
NEW YORK (AP) - Treasury bond prices settled lower Friday, capping a miserable week for a market that remains spooked by the fear of rising inflation and pre-emptive rate increases by the Federal Reserve continuing into next year.
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Friday's Commodities Roundup
Oct 28 2005 4:39PM (CT)
NEW YORK (AP) - Crude-oil futures ended in shallow positive territory Friday, capping a week marked by unusually thin volumes and extreme volatility.
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Bristol-Myers profit up, misses estimates
Oct 28 2005 4:20PM (CT)
NEW YORK (AP) - Drugmaker Bristol-Myers Squibb Co. said Friday its third quarter net profit rose 27 percent, largely on the sale of its U.S. and Canadian nonprescription medicines business. But the company's shares tumbled more than 3 percent as it missed Wall Street's forecast, lowered earnings guidance for the year and on Thursday said it might abandon development of a key drug.
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Telecoms firms file Qualcomm complaint
Oct 28 2005 4:10PM (CT)
BRUSSELS, Belgium (AP) - Six telecommunications equipment makers said Friday they filed antitrust complaints with European regulators against Qualcomm Inc., claiming the California-based wireless technology company was refusing to license essential patents on fair terms.
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Subway threatens Conn. sandwich shop
Oct 28 2005 3:56PM (CT)
MILFORD, Conn. (AP) - The world's largest sandwich chain is threatening to sue a father-and-son sandwich shop, claiming the name Steakways Famous Philly Cheese Steaks is too similar to the Subway trademark.
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ADM shares up despite 1Q profit decline
Oct 28 2005 3:44PM (CT)
DECATUR, Ill. (AP) - Shares of agricultural processor Archer Daniels Midland Co. rose sharply Friday despite fiscal first-quarter earnings that fell 30 percent from sluggish grain sales due to hurricanes Katrina and Rita.
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Chevron's 3Q profit hurt by storm damage
Oct 28 2005 3:43PM (CT)
SAN RAMON, Calif. (AP) - Chevron Corp., the nation's second-largest oil company, joined in its industry's third-quarter earnings boom, but didn't capitalize on soaring fuel prices as much as some rivals because Hurricane Katrina and other devastating storms crippled its Gulf of Mexico operations.
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Microsoft shares rise after 1Q profit
Oct 28 2005 3:39PM (CT)
SEATTLE (AP) - Microsoft Corp. shares rose nearly 3 percent Friday, a day after the world's largest software maker reported a 24 percent increase in its first-quarter profit.
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Judge defers in Google-Microsoft tussle
Oct 28 2005 3:39PM (CT)
SAN RAMON, Calif. (AP) - A federal judge has rebuffed Google Inc.'s attempt to remove court-ordered restrictions limiting its employment of prized computer scientist Kai-Fu Lee, whose recent defection from Microsoft Corp. exposed the escalating tensions between two of the world's best-known companies.
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Avon 3Q profit drops on weak U.S. sales
Oct 28 2005 3:32PM (CT)
NEW YORK (AP) - Avon Products Inc. said Friday its third-quarter profit dropped 7 percent, dragged down by weak U.S. sales and a decline in profit margins. But the world's biggest direct seller of cosmetics and other beauty products beat Wall Street expectations sending shares up more than 6 percent.
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Refco: Unregulated accounts to stay frozen
Oct 28 2005 3:21PM (CT)
NEW YORK (AP) - Lawyers for bankrupt Refco Inc. said Friday that customers holding accounts at its unregulated unit are creditors and that those accounts will continue to be frozen.
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Profits likely won't mean new refineries
Oct 28 2005 3:03PM (CT)
WASHINGTON (AP) - Don't expect the oil industry to boost fuel production merely to deflect criticism from Congress about soaring prices and profits.
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Judge orders IRS to pay Buffett's firm
Oct 28 2005 2:42PM (CT)
LINCOLN, Neb. (AP) - A federal judge on Friday ordered the Internal Revenue Service to pay billionaire Warren Buffett's investment company more than $23 million in taxes and interest for disallowing certain deductions.
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Fired HealthSouth CEO pleads not guilty
Oct 28 2005 2:16PM (CT)
MONTGOMERY, Ala. (AP) - Fired HealthSouth Corp. CEO Richard Scrushy pleaded not guilty Friday to charges accusing him of participating in a government corruption scheme. Scrushy said he was offered immunity if he would testify against former Gov. Don Siegelman.
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Delta to discontinue Song by May 2006
Oct 28 2005 2:13PM (CT)
ATLANTA (AP) - Delta Air Lines Inc., which is reorganizing under protection from the federal bankruptcy court, announced plans Friday to discontinue its discount carrier Song and incorporate Song's fleet into Delta's regular service.
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GM recalling SUVs over latch corrosion
Oct 28 2005 2:09PM (CT)
WASHINGTON (AP) - General Motors Corp. said Friday it was recalling about 100,000 sport utility vehicles in 20 northern states because corrosion can affect latches on the two backseat doors, potentially allowing the doors to open while the vehicle is being driven.
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FDA delays decision on inhalable insulin
Oct 28 2005 1:40PM (CT)
NEW YORK (AP) - Drug makers Pfizer Inc. and Sanofi Aventis SA said Friday that the Food and Drug Administration has extended the review period for an inhalable insulin product by three months to study more data on the diabetes treatment.
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Money funds fall in latest week
Oct 28 2005 12:03PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds fell by $1.06 billion in the latest week to $827.22 billion.
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Motorola gets $500M in Telsim settlement
Oct 28 2005 11:26AM (CT)
SCHAUMBURG, Ill. (AP) - Motorola Inc., the world's second-largest mobile-phone company, said it was paid $500 million cash Friday by Telsim as part of a settlement of its 4-year-old legal case against the Turkish wireless carrier.
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WTO gives EU 7 months to reform programs
Oct 28 2005 11:10AM (CT)
GENEVA (AP) - The European Union has seven months to reform its sugar subsidies programs or potentially face billions of dollars in retaliation, the World Trade Organization said Friday.
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CNN in deal for news channel in India
Oct 28 2005 11:08AM (CT)
NEW DELHI (AP) - CNN is planning to launch a 24-hour news channel in India in conjunction with a local news channel. The new outlet, to be called CNN-IBN, will combine programming from CNN and from Global Broadcasting News, a TV 18 Group company.
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ABB 3Q net profit almost doubles to $188M
Oct 28 2005 10:59AM (CT)
ZURICH, Switzerland (AP) - Swiss-Swedish engineering company ABB said Friday its third-quarter net profit almost doubled to $188 million, despite taking a charge in its transformer business.
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Hershey Co. challenges Milkdudz name
Oct 28 2005 10:54AM (CT)
HERSHEY, Pa. (AP) - The double meaning may be clever, but The Hershey Co., maker of Milk Duds candy, is trying to stop a California company from using a sound-alike name for a line of clothing designed to make breast-feeding easier.
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Vodafone Group buys stake in Bharti
Oct 28 2005 10:43AM (CT)
NEW DELHI (AP) - Britain-based Vodafone Group PLC bought a stake of just over 10 percent in Bharti Tele-Ventures, India's largest mobile operator, for 67 billion rupees ($1.5 billion), the companies said Friday.
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ABB 3Q net profit almost doubles to $188M
Oct 28 2005 10:26AM (CT)
ZURICH, Switzerland (AP) - Swiss-Swedish engineering company ABB said Friday its third-quarter net profit almost doubled to $188 million, despite taking a charge in its transformer business.
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Deutsche Bank posts profit on stake sale
Oct 28 2005 10:07AM (CT)
BERLIN (AP) - Deutsche Bank AG said Friday that its third-quarter profit jumped a record 46 percent on stronger returns from investment banking and after it sold a stake in DaimlerChrysler AG.
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Matsushita, Toshiba earnings increase
Oct 28 2005 8:52AM (CT)
TOKYO (AP) - Matsushita Electric Industrial Co. Ltd., the Japanese maker of Panasonic electronics, said Friday its profit surged 33 percent for the July-September quarter, lifted by strong sales of flat-panel TVs, digital cameras and personal computers.
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Nissan's profit climbs on global sales
Oct 28 2005 8:39AM (CT)
TOKYO (AP) - Nissan Motor Co.'s profit climbed 8 percent in its second fiscal quarter as strong sales around the world offset rising raw material costs and discount incentives to sell cars in North America, Japan's second biggest automaker said Friday.
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GlaxoSmithKline inadvertently released data
Oct 28 2005 7:37AM (CT)
LONDON (AP) - Drug maker GlaxoSmithKline PLC said Friday it had inadvertently released figures a day earlier showing earnings for this year growing at the top of its newly increased forecast range.
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China says oil imports up in September
Oct 28 2005 7:23AM (CT)
BEIJING (AP) - China's oil imports in September rose to 76 million barrels, up 4 percent from the same month last year, the government said Friday.
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NTT DoCoMo posts profit on cost cuts
Oct 28 2005 7:08AM (CT)
TOKYO (AP) - Japan's largest mobile phone service operator, NTT DoCoMo Inc., said its profit rose 14.9 percent in the half-year through September, due to continued cost-cutting efforts and a lower churn rate.
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October euro zone inflation at 2.5 percent
Oct 28 2005 6:54AM (CT)
BRUSSELS, Belgium (AP) - Inflation in the 12 countries using the euro rose by 2.5 percent in October, according to early estimates from the European Union's statistical agency Eurostat.
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Matsushita profit jumps 33 percent
Oct 28 2005 6:05AM (CT)
TOKYO (AP) - Matsushita, the Japanese maker of Panasonic electronics, reported Friday a 33 percent surge in profit for the July-September quarter, lifted by strong sales of flat-panel TVs, digital cameras and personal computers.
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Chinese yuan hits new high against dollar
Oct 28 2005 5:56AM (CT)
SHANGHAI, China (AP) - The Chinese yuan on Friday climbed to its highest level against the U.S. dollar since Beijing revalued its currency in July _ but has still only gained about 0.32 percent since then.
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Toshiba's profit jumps 46 percent
Oct 28 2005 4:11AM (CT)
TOKYO (AP) - Toshiba Corp. said Friday its net profit jumped 46 percent in the July-September quarter from a year ago, thanks to increased demand for flash memory chips and improved profitability of its personal computers.
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Japanese stocks decline, dollar lower
Oct 28 2005 4:07AM (CT)
TOKYO (AP) - Japanese stocks fell Friday for the first time in four days, hurt by disappointing industrial output figures and losses in U.S. stocks overnight. The dollar slipped against the yen.
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Farmworker sex abuse often goes unnoticed
Oct 28 2005 2:23AM (CT)
LEMOORE, Calif. (AP) - It took Olivia Tamayo six years to accuse her supervisor of rape, but when she finished telling her story in court it took a jury less than six hours to award the farmworker $1 million in damages.
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China's biggest bank, ICBC, readies for IPO
Oct 28 2005 1:55AM (CT)
SHANGHAI, China (AP) - China's biggest state-owned bank formally launched a joint stock company on Friday in preparation for selling its shares overseas following an initial public offering by smaller lender China Construction Bank.
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China's Sinopec says 3Q net profit down
Oct 28 2005 1:52AM (CT)
SHANGHAI, China (AP) - China Petroleum & Chemical Corp., Asia's biggest refiner by capacity, reported Friday that its net profit for the third quarter of 2005 fell 20.4 percent from a year earlier, as high crude oil prices ate into refining margins.
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China's Unicom says profits down
Oct 28 2005 1:51AM (CT)
BEIJING (AP) - China Unicom Ltd., China's second-largest mobile phone company, said Friday its profits for the first nine months of the year were down 7.4 percent from the same period last year after an unusual 4.55 billion yuan ($560 million) expense.
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