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Hong Kong may sell stake in Disneyland
Nov 2 2005 11:41PM (CT)
HONG KONG (AP) - The government may eventually sell its 57 percent stake in the recently opened Hong Kong Disneyland, the territory's treasury chief said.
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Novell to cut 600 jobs in restructuring
Nov 2 2005 11:17PM (CT)
WALTHAM, Mass. (AP) - Business software maker Novell Inc. will cut about 600 positions, or more than 10 percent of its work force, by January as part of its restructuring efforts to concentrate on core strategic areas such as the Linux and open-source markets.
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J&J may not complete $25.4B Guidant deal
Nov 2 2005 10:41PM (CT)
INDIANAPOLIS (AP) - Johnson & Johnson warned Wednesday it might pull out of a $25.4 billion deal to buy Guidant Corp. because of potential liability arising from the medical device maker's sweeping product recalls and a regulatory investigation. But Guidant officials said J&J was legally bound to go through with the deal.
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World Bank raises China's growth forecast
Nov 2 2005 10:06PM (CT)
BEIJING (AP) - The World Bank said Thursday it expects China's economy to grow by 9.3 percent this year, raising its forecast by 0.3 percentage point amid strong domestic demand and surging exports.
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Gutierrez pushes for trade deal
Nov 2 2005 10:01PM (CT)
BUENOS AIRES, Argentina (AP) - U.S. Commerce Secretary Carlos Gutierrez made a last minute bid Wednesday to encourage Latin American leaders to put a hemispheric trade deal on their agenda for this weekend's Summit of the Americas, but there were indications that the move was receiving a cool reception.
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Haggar Corp. names new CEO
Nov 2 2005 9:36PM (CT)
DALLAS (AP) - Haggar Corp. named a new chief executive Wednesday, a day after the apparel maker's $212 million sale to an investor group led by Infinity Associates LLC.
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Oil prices slip on news of supply report
Nov 2 2005 9:15PM (CT)
WASHINGTON (AP) - Crude oil futures fell Wednesday after the U.S. government released data that showed rising supplies of oil and gasoline, but hinted that a recent decline in gasoline demand was tapering off.
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Cathay attendants decry sick leave rules
Nov 2 2005 9:11PM (CT)
HONG KONG (AP) - Cathay Pacific flight attendants are accusing the airline of infringing on their privacy with new sick leave rules requiring them to give the company their medical records.
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Samsung Electronics seeks to double sales
Nov 2 2005 8:50PM (CT)
SEOUL, South Korea (AP) - Samsung Electronics Co.'s top executives announced on Thursday an ambitious set of goals for the company, South Korea's largest, saying they want to more than double sales and seize top global market share for 20 products by 2010.
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U.S. reports progress on talks with China
Nov 2 2005 7:41PM (CT)
WASHINGTON (AP) - The Bush administration on Wednesday reported progress in talks this week with China on an agreement to limit the amount of Chinese clothing and textile products coming into the U.S.
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Panel to retain tariffs on shrimp imports
Nov 2 2005 7:27PM (CT)
WASHINGTON (AP) - The U.S. International Trade Commission voted Wednesday to retain penalty tariffs against shrimp imports from India and Thailand.
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Paying points on loans may make comeback
Nov 2 2005 7:09PM (CT)
NEW YORK (AP) - Rising interest rates may soon revive the practice of paying points to lower monthly mortgage payments, an option not as readily offered by lenders in recent years.
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Charges hurt Duke Energy 3rd-qtr. profit
Nov 2 2005 6:55PM (CT)
CHARLOTTE, N.C. (AP) - Third-quarter earnings for Duke Energy Corp. dropped significantly because of one-time charges for the planned sale of most of its merchant power plants, the company said Wednesday.
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Fluor settles government contracts suit
Nov 2 2005 6:53PM (CT)
ALISO VIEJO, Calif. (AP) - Engineering and construction firm Fluor Corp. paid $12.5 million to settle a lawsuit brought by the Department of Justice over its handling of government contracts.
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FDA approves Novartis iron-removal drug
Nov 2 2005 6:47PM (CT)
WASHINGTON (AP) - The Food and Drug Administration approved a novel, new drug by Novartis AG that is designed to remove excess iron in patients undergoing regular blood transfusions, the company said Wednesday.
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Interstate Bakeries reports drop in sales
Nov 2 2005 6:45PM (CT)
KANSAS CITY, Mo. (AP) - Interstate Bakeries Corp., the maker of Hostess Twinkies and Wonder Bread, reported its second-lowest level of monthly sales since it filed for bankruptcy protection last year.
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Univision earnings rise in third quarter
Nov 2 2005 6:44PM (CT)
LOS ANGELES (AP) - Spanish-language broadcaster Univision Communications Inc. reported an 8 percent increase in third-quarter earnings Wednesday, citing higher ratings against English-language networks and strong advertising sales.
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Symantec shares decline on weak forecast
Nov 2 2005 6:43PM (CT)
NEW YORK (AP) - Symantec Corp. stock fell Wednesday, a day after the software maker cut its financial forecast and announced the surprise retirement of its chief financial officer.
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Warner Bros. fires up to 300 employees
Nov 2 2005 6:40PM (CT)
BURBANK, Calif. (AP) - Warner Bros. Entertainment said Wednesday it has fired between 250 and 300 employees as a cost-cutting measure.
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MBIA shares climb on talk of settlement
Nov 2 2005 6:31PM (CT)
CHICAGO (AP) - MBIA Inc. stock rose Wednesdsay on expectations that the Armonk, N.Y., bond insurer may be nearing a settlement of civil probes by federal and state authorities into its accounting.
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IPOs of Cbeyond, Website Pros end flat
Nov 2 2005 6:29PM (CT)
WASHINGTON (AP) - Two initial public offerings ended flat while another closed lower on Wednesday, the first day of trading for the three companies.
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Prudential Financial 3Q earnings advance
Nov 2 2005 6:25PM (CT)
NEWARK, N.J. (AP) - Prudential Financial Inc.., one of the largest U.S. life insurers, said Wednesday its third-quarter profit rose sharply with improved results in all its financial services divisions.
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Cablevision dividend move raises questions
Nov 2 2005 6:17PM (CT)
NEW YORK (AP) - Cablevision Systems Corp., a New York-area cable television provider, Wednesday said its board has given the go-ahead for a one-time dividend of $3 billion proposed by the company's controlling shareholders.
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Mystery clouds possible Knight Ridder sale
Nov 2 2005 6:14PM (CT)
NEW YORK (AP) - Money manager Bruce Sherman, a 19 percent shareholder in Knight Ridder Inc., wants the newspaper publisher to put itself up for sale. But with newspaper stocks so far out of favor with investors this year, the question arises: Who might be interested in buying it?
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Cable cos. unveil deal with Sprint Nextel
Nov 2 2005 6:05PM (CT)
NEW YORK (AP) - Four top cable TV providers announced a long-awaited deal to deliver their own cell phone services through Sprint Nextel Corp., creating a "quadruple play" of voice, video, Internet and wireless products for a new battle against telephone companies that are adding TV to their arsenals.
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Boeing undecided on satellite launches
Nov 2 2005 6:00PM (CT)
LOS ANGELES (AP) - Boeing Co. officials have not yet decided whether to scrub upcoming satellite launches or hire replacement workers after machinists went on strike in California, Alabama and Florida, a company spokesman said Wednesday.
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More U.S. Foodservice vendors face charges
Nov 2 2005 5:54PM (CT)
NEW YORK (AP) - Seven additional vendors of U.S. Foodservice Inc. are facing criminal charges in connection with an alleged multimillion accounting fraud at the unit of Dutch retailer Royal Ahold NV, the U.S. Attorney's office in Manhattan said Wednesday.
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Peabody Energy set to build plant in Ill.
Nov 2 2005 5:53PM (CT)
ST. LOUIS (AP) - Peabody Energy Corp., the nation's biggest coal company, said Wednesday it plans to build a plant in Illinois that transforms coal into natural gas.
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Qualcomm 4Q earnings rise 37 percent
Nov 2 2005 5:53PM (CT)
SAN DIEGO (AP) - Qualcomm Inc.'s earnings rose 37 percent in its latest quarter, fueled by demand for next-generation cell phones.
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Mechanics strike at Northwest seems over
Nov 2 2005 5:49PM (CT)
MINNEAPOLIS (AP) - Defiant Northwest Airlines mechanics still picket. Their union urges them to stay strong. But airline observers and even some strikers say it's as good as over.
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Bond note down 10/32; yield up 0.03 pct.
Nov 2 2005 5:46PM (CT)
NEW YORK (AP) - Longer-dated maturities led Treasurys prices mostly lower Wednesday, bringing the yield on the benchmark 10-year note to its highest close since March.
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Convergys wins $1.1B contract with DuPont
Nov 2 2005 5:42PM (CT)
CINCINNATI (AP) - Convergys Corp., a provider of business outsourcing services, won a contract worth an estimated $1.1 billion to provide human resources services to DuPont Co., Convergys said on Wednesday.
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Wednesday's commodities roundup
Nov 2 2005 5:40PM (CT)
NEW YORK (AP) - Crude-oil futures ended slightly lower Wednesday as traders shrugged off weekly government petroleum inventory data and continued taking cues from the markets for refined products like gasoline.
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Sun Microsystems shares slide on 1Q loss
Nov 2 2005 5:34PM (CT)
SAN JOSE, Calif. (AP) - Shares of Sun Microsystems Inc. slipped Wednesday after the maker of servers and software posted a loss in the first quarter of its fiscal year despite a boost in sales from two recently closed acquisitions.
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Credit Suisse Group 3Q profit up 42 pct.
Nov 2 2005 5:33PM (CT)
ZURICH, Switzerland (AP) - Credit Suisse Group, Switzerland's second-largest bank, posted a 42 percent rise in third-quarter net profit, driven by the healthy performance of its Credit Suisse First Boston investment bank in the U.S. and its private banking operations.
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Cigna 3rd-quarter profit down 16 percent
Nov 2 2005 5:30PM (CT)
PHILADELPHIA (AP) - Health insurer Cigna Corp., said Wednesday its third-quarter profit dropped 16 percent compared to a year-ago period that included higher one-time gains, but said it continued to staunch a yearslong membership decline. The company's stock tumbled 9 percent in midday trading.
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Delphi weighs legal action after report
Nov 2 2005 5:25PM (CT)
TROY, Mich. (AP) - Auto supplier Delphi Corp. said Wednesday it is investigating how a newspaper obtained a document about its restructuring plans and will consider taking legal action.
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GM workers to vote on health care proposal
Nov 2 2005 5:18PM (CT)
DETROIT (AP) - General Motors Corp. auto workers will begin voting this week on a proposal that would have workers and retirees pay more for their health care, in a test case for U.S. automakers, who say they can't afford the hard-won union benefits of the past.
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Wal-Mart sponsors economic conference
Nov 2 2005 5:17PM (CT)
NEW YORK (AP) - Under a barrage of criticism that Wal-Mart Stores Inc. is bad for the overall economy, the world's largest company is taking a public look at itself.
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Jury deliberates Vioxx liability case
Nov 2 2005 5:16PM (CT)
ATLANTIC CITY, N.J. (AP) - A jury deliberated for 6 1/2 hours Wednesday without reaching a verdict in a product liability trial accusing Merck & Co.'s painkiller Vioxx of causing a man's heart attack.
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Northwest to cut flight attendants' pay
Nov 2 2005 5:09PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. flight attendants would accept temporary pay cuts worth roughly $117 million to buy time to reach a permanent agreement, their union said on Wednesday, and the airline said it will try to reach temporary deals with two other unions as well.
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Nortel Networks narrows 3Q earnings loss
Nov 2 2005 5:04PM (CT)
TORONTO (AP) - Nortel Networks Corp., recovering from a costly accounting scandal that erupted last year, said Wednesday its third-quarter loss narrowed to $105 million as revenues rose 22 percent from a year earlier.
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Delta projects to be profitable in 2007
Nov 2 2005 4:44PM (CT)
ATLANTA (AP) - Delta Air Lines Inc., which expects a more than $2 billion loss this year, said Wednesday it will return to profitability two years from now if, among other things, it can wring huge concessions from its pilots and jet fuel doesn't get more costly.
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Dean Foods grosses $103.9 million in 3Q
Nov 2 2005 4:37PM (CT)
DALLAS (AP) - es/AP) _ Dean Foods Co., the country's largest producer of dairy products, Wednesday said its third-quarter profit and sales climbed as volumes increased.
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U.S. files trade complaint against Turkey
Nov 2 2005 4:32PM (CT)
WASHINGTON (AP) - Turkey unfairly has restricted rice imported from the U.S., the Bush administration said Wednesday in a complaint to the World Trade Organization.
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Mercury Interactive CEO, 2 execs resign
Nov 2 2005 4:29PM (CT)
MOUNTAIN VIEW, Calif. (AP) - Software maker Mercury Interactive Corp. Wednesday said Chief Executive Amnon Landan and two other executives resigned due to an internal investigation into stock-option grants.
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Ernst: H&R Block may cut profit outlook
Nov 2 2005 4:20PM (CT)
KANSAS CITY, Mo. (AP) - Rising interest rates could force tax preparation leader H&R Block Inc. to lower its earnings estimates for the year, Chief Executive Officer Mark Ernst told analysts Wednesday.
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Time Warner posts profit; raises buyback
Nov 2 2005 4:17PM (CT)
NEW YORK (AP) - Time Warner Inc., the world's largest media company, reported an 80 percent increase in third-quarter earnings Wednesday and raised its stock repurchase program to $12.5 billion from $5 billion in an effort to meet shareholder demands to lift its slumping stock price.
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WMS Industries shares fall on downgrades
Nov 2 2005 3:05PM (CT)
NEW YORK (AP) - The stock of WMS Industries Inc., a maker of slot machines, fell Wednesday morning after downgrades by various firms over a lack of immediate growth prospects.
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Intersections down; to lose AmEx contract
Nov 2 2005 2:22PM (CT)
NEW YORK (AP) - Intersections Inc. stock fell Wednesday after the identity-theft and credit monitoring company said American Express Inc. ended a contract that represents more than a fifth of annual revenue.
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Sonoma County to vote on biotech crops
Nov 2 2005 2:17PM (CT)
SANTA ROSA, Calif. (AP) - Farmers in Sonoma County have lined up on both sides of a ballot initiative that would bar them from growing genetically modified crops in this lush region of vineyards and orchards.
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More cargo projected for China ports
Nov 2 2005 12:56PM (CT)
SHANGHAI, China (AP) - With China's economy booming, its ports are projected to handle 25 percent more cargo traffic over the next five years, state media reported Wednesday, citing a senior transport official.
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Cutera stock up after earnings top views
Nov 2 2005 12:40PM (CT)
NEW YORK (AP) - Cutera Inc. stock rose Wednesday in the first day of trading after the maker of cosmetic lasers reported it blew past third-quarter earnings projections.
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Suntech Power files for U.S. IPO
Nov 2 2005 12:39PM (CT)
WASHINGTON (AP) - A Chinese manufacturer of solar cells, Suntech Power Holdings Co., has registered for a U.S. initial public offering of up to $300 million, according to a filing Tuesday with the Securities and Exchange Commission.
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BASF says 3Q net profit more than doubles
Nov 2 2005 12:34PM (CT)
FRANKFURT, Germany (AP) - BASF AG, the world's biggest chemical company, said Wednesday its net profit more than doubled in the third quarter, but its fourth-quarter earnings would fall due in part to production losses from this year's hurricane season.
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BMW to build an assembly plant in India
Nov 2 2005 12:31PM (CT)
FRANKFURT, Germany (AP) - Automaker BMW AG said Wednesday it will build an assembly plant in India and expand its network of dealerships in the country.
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Deutsche Telekom to slash 32,000 jobs
Nov 2 2005 12:30PM (CT)
FRANKFURT, Germany (AP) - Deutsche Telekom AG, Europe's biggest phone company, said Wednesday that it plans to cut 32,000 jobs from its payroll in Germany in the next three years _ 25,000 at its main operations and 7,000 from a staffing agency subsidiary.
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Swiss Re: storm cost may surpass $20B
Nov 2 2005 11:53AM (CT)
ZURICH, Switzerland (AP) - Swiss Reinsurance Co., the world's second-largest reinsurer, said Wednesday the global insurance industry could face more than $20 billion in claims from Gulf Coast hurricanes Rita and Wilma.
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NYSE fines Lehman for at-close trades
Nov 2 2005 11:44AM (CT)
NEW YORK (AP) - The New York Stock Exchange fined Lehman Brothers Holdings Inc. $500,000 for failing to supervise a trading strategy pegged to the closing price of a stock in 2002 that gave it a profit while potentially harming its customers.
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Eircom says it received takeover approach
Nov 2 2005 9:57AM (CT)
DUBLIN, Ireland (AP) - Ireland's dominant telephone company, Eircom PLC, said Wednesday it has received an approach that could lead to a takeover. Shares in the company jumped 15 percent.
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Club Med sells four resorts for $270M
Nov 2 2005 9:24AM (CT)
PARIS (AP) - Club Mediterrannee SA has sold four luxury resorts for about $270 million under a deal that allows the French vacation operator to lease them, the company said Wednesday.
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DaimlerChrysler to expand China operation
Nov 2 2005 9:22AM (CT)
BEIJING (AP) - DaimlerChrysler AG plans to expand its 2-month-old auto-financing operation in China in an effort to boost sales, and the maker of Jeep and Mercedes Benz vehicles is ready for higher default rates than in developed countries, executives of the company said Wednesday.
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Liquidators for collapsed bank drop claim
Nov 2 2005 9:09AM (CT)
LONDON (AP) - Liquidators for Britain's Bank of Credit and Commerce International, which collapsed 12 years ago, dropped a damages claim for 1 billion pounds ($1.8 billion) against the Bank of England on Wednesday.
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Swiss Re: storm costs may exceed $20B
Nov 2 2005 8:40AM (CT)
ZURICH, Switzerland (AP) - Swiss Reinsurance Co., the world's second-largest reinsurer, said Wednesday the global insurance industry could face more than $20 billion in claims from Gulf Coast hurricanes Rita and Wilma.
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Fed expected to keep raising rates
Nov 2 2005 8:29AM (CT)
WASHINGTON (AP) - The star actor may be about to depart, but his understudy at the Federal Reserve is expected to keep following the same script _ gradually increasing interest rates to make sure inflation does not get out of control.
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German jobless rate edges down in Oct.
Nov 2 2005 7:18AM (CT)
FRANKFURT, Germany (AP) - Germany's unemployment rate edged down to 11 percent in October as more companies hired part-time workers, government figures showed Wednesday.
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Wal-mart executive to become CEO of Seiyu
Nov 2 2005 7:13AM (CT)
TOKYO (AP) - A Wal-Mart executive will take the helm of Seiyu Ltd., a Japanese retailer set to become a subsidiary of the U.S. chain in December, signaling Wal-Mart's determination to succeed in Japan's lucrative _ and finicky _ retail market.
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Bridgestone's profit nearly doubles
Nov 2 2005 6:43AM (CT)
TOKYO (AP) - Bridgestone Corp., which last month settled its tire recall dispute with Ford Motor Co., said Wednesday its group net profit for the first nine months of the year nearly doubled and raised its full-year earnings projection.
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China issues new rules for traded cos.
Nov 2 2005 6:21AM (CT)
SHANGHAI, China (AP) - Chinese shares rose Wednesday in reaction to the announcement of new rules requiring major shareholders of companies with publicly traded stocks to pay off their internal debts, among other measures, in the latest attempt to revive the country's languishing stock markets.
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Petronas records 23 pct. net profit rise
Nov 2 2005 5:31AM (CT)
KUALA LUMPUR, Malaysia (AP) - Malaysia's national oil-and-gas company Petronas said Wednesday its net profit climbed 23 percent on-year in half-year through September as skyrocketing oil prices offset lower output.
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Westpac bank says its annual profit higher
Nov 2 2005 5:23AM (CT)
SYDNEY, Australia (AP) - Australia's Westpac Banking Corp. said Wednesday its full-year net profit rose 11 percent to 2.82 billion Australian dollars ($2.1 billion), releasing the results a day ahead of schedule due to a reporting glitch.
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Multiplex maintains profit projection
Nov 2 2005 5:22AM (CT)
SYDNEY, Australia (AP) - Australian construction company Multiplex Ltd. said Wednesday it was on track to make a net profit of 215 million Australian dollars ($160 million) the fiscal year through June, barring any further delays in its redevelopment of London's landmark Wembley Stadium.
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Toyota president, GM CEO to meet in Tokyo
Nov 2 2005 12:59AM (CT)
TOKYO (AP) - The heads of Toyota Motor Corp. and General Motors Corp. will meet in Tokyo to discuss technology exchanges and to further strengthen cooperation, news reports said Wednesday, amid worries here of a political backlash over Japanese automakers huge success in the U.S. market.
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AARP: Drug prices still ahead of inflation
Nov 2 2005 12:09AM (CT)
WASHINGTON (AP) - Price increases for popular brand-name prescription drugs rose at twice the general rate of inflation for the year ending June 30, though the gap narrowed a bit, the AARP said Tuesday.
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