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Court upholds vacating Lay's conviction
Nov 7 2006 11:42PM (CT)
HOUSTON (AP) - A federal appeals court has upheld a judge's ruling to vacate the conviction of Enron Corp.'s late founder, Kenneth Lay, who had been found guilty earlier this year of committing fraud and conspiracy in one of the biggest corporate scandals in U.S. history.
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Australia bank raises interest rate
Nov 7 2006 11:41PM (CT)
SYDNEY, Australia (AP) - Australia's central bank announced Wednesday its decision to boost a key interest rate by a quarter of a percentage point to 6.25 percent, a decision Prime Minister John Howard said signaled a "more challenging" future for economic growth.
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Cardinal faces 401(k) complaint
Nov 7 2006 11:40PM (CT)
DUBLIN, Ohio (AP) - An insurer wants to determine whether it has coverage obligations in lawsuits involving a retirement plan at Cardinal Health Inc., the drug and medical supply distributor said in a Tuesday filing with the Securities and Exchange Commission.
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Oil prices climb above $59 a barrel
Nov 7 2006 11:37PM (CT)
SINGAPORE (AP) - Oil prices rose Wednesday as traders awaited the weekly U.S. crude inventory report and assessed the possibility of further OPEC production cuts.
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Baquet forced out as L.A. Times editor
Nov 7 2006 10:24PM (CT)
LOS ANGELES (AP) - Los Angeles Times editor Dean Baquet was forced to resign Tuesday in a power struggle with parent company Tribune Co. over budget cuts at the newspaper.
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Report: Merck discloses 4 tax disputes
Nov 7 2006 10:13PM (CT)
NEW YORK (AP) - Merck & Co. has disclosed four separate tax disputes in the U.S. and Canada with potential liabilities totaling $5.58 billion, as the drug maker faces tens of thousands of lawsuits over its withdrawn painkiller Vioxx, The Wall Street Journal reported on its Web site Tuesday.
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Microsoft to pay Novell $240 million
Nov 7 2006 9:03PM (CT)
SEATTLE (AP) - Microsoft Corp. will pay Novell Inc. $240 million upfront for subscription certificates for Novell's SUSE Linux Enterprise Server product, Novell said in a statement late Tuesday.
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Intel gets OK to hike Vietnam investment
Nov 7 2006 7:13PM (CT)
HANOI, Vietnam (AP) - Intel Corp., the world's largest chipmaker, has received permission to increase its initial investment in Vietnam from $300 million to up to $1 billion, a Vietnamese official said Tuesday.
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FedEx cancels Airbus order to buy Boeing
Nov 7 2006 6:44PM (CT)
PARIS (AP) - Boeing scored a victory in the airliner wars Tuesday when FedEx became the first customer to cancel an order for Airbus's much delayed A380 superjumbo jets and said it instead will buy Boeing 777s.
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Wynn Resorts posts 3Q profit on gain
Nov 7 2006 5:51PM (CT)
LAS VEGAS (AP) - Casino operator Wynn Resorts Ltd. on Tuesday reported a third-quarter profit from a year-ago loss, aided by a hefty one-time gain from the sale of a subconcession right in Macau.
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2 major homebuilders see orders dive
Nov 7 2006 5:03PM (CT)
PHILADELPHIA (AP) - In a sign of a deepening housing slump, two major homebuilders on Tuesday reported steep declines in new orders and weaker fourth-quarter results.
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Agency calls for heavy energy investment
Nov 7 2006 4:49PM (CT)
LONDON (AP) - The International Energy Agency called on governments to curb growth in energy demand and greenhouse gas emissions as it warned Tuesday that the world's energy supply is rapidly running out.
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GM reduces 3Q loss by $24 million
Nov 7 2006 4:38PM (CT)
DETROIT (AP) - When General Motors Corp. reported its third-quarter earnings in October, it didn't know about $24 million worth of loans made by its finance arm.
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Citgo not likely hurt by Chavez factor
Nov 7 2006 4:34PM (CT)
BOSTON (AP) - Venezuelan President Hugo Chavez' calls for a socialist revolution haven't made it easy for Citgo Petroleum Corp. to quietly go about refining oil and selling gas to U.S. consumers, or steer clear of spats between Caracas and Washington.
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Volkswagen CEO stepping down
Nov 7 2006 4:10PM (CT)
BERLIN (AP) - Volkswagen AG, Europe's biggest car maker, said Tuesday that Bernd Pischetsrieder will step down as chief executive after four years and be replaced by Martin Winterkorn, head of the company's premium Audi unit.
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Toyota's quarterly profit rises 34 pct.
Nov 7 2006 4:08PM (CT)
TOKYO (AP) - Toyota said Tuesday its net profit surged 34 percent in the July-September quarter, boosted by strong sales in the North American and European markets at a time its U.S. rivals are struggling.
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Tropicana, Dole to raise OJ prices again
Nov 7 2006 2:13PM (CT)
ORLANDO, Fla. (AP) - PepsiCo Inc. said Tuesday it will boost prices on Tropicana and Dole orange juice by 4 percent to 8 percent at the start of 2007, further fallout from what's expected to be the worst Florida citrus crop in more than a decade.
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Wal-Mart to open Canadian supercenters
Nov 7 2006 1:20PM (CT)
TORONTO (AP) - Discount powerhouse Wal-Mart Canada Corp. _ which is preparing to open its first three Canadian supercenters this week _ said Tuesday it plans to open up to 14 more in 2007.
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Sara Lee 1Q earnings jump sharply
Nov 7 2006 12:57PM (CT)
CHICAGO (AP) - Food and household goods maker Sara Lee Corp. said Tuesday that first-quarter net income more than quadrupled, buoyed by a hefty tax benefit and sales gains across all business segments.
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Toll Bros. 4Q home building revenue dips
Nov 7 2006 12:52PM (CT)
HORSHAM, Pa. (AP) - Home builder Toll Brothers Inc. said Tuesday its fourth-quarter home-building revenue dropped 10 percent as the housing market continues to soften, and warned it would see a hefty charge in the quarter.
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Revlon 3Q loss widens
Nov 7 2006 11:39AM (CT)
NEW YORK (AP) - Revlon Inc. said Tuesday its loss widened in the third quarter, dragged down by costs related to dumping its new cosmetics line for older women and other restructuring and management severance costs.
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WTO formally invites Vietnam to join
Nov 7 2006 10:19AM (CT)
GENEVA (AP) - The World Trade Organization formally invited Vietnam on Tuesday to become the commerce body's 150th member, officials said.
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MySpace to go to Asia in joint venture
Nov 7 2006 10:15AM (CT)
TOKYO (AP) - News Corp. and Japan's Softbank Corp. announced plans Tuesday to bring MySpace, the popular Internet social networking site, to Asia.
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RR Donnelley posts higher 3Q earnings
Nov 7 2006 10:13AM (CT)
CHICAGO (AP) - Printing company R.R. Donnelley & Sons Co. said Tuesday its third-quarter profits rose 61 percent, benefiting from higher sales and a lower tax rate.
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Yahoo brings more imagery to mobile ads
Nov 7 2006 8:24AM (CT)
SUNNYVALE, Calif. (AP) - Yahoo Inc. is expanding a test of its mobile telephone advertising network to include more visually appealing messages.
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Nortel posts narrower 3Q loss
Nov 7 2006 7:57AM (CT)
NEW YORK (AP) - Canadian telecommunications company Nortel Networks Corp. said Tuesday it posted a narrower loss for the third quarter as its revenue rose sharply.
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EchoStar Communications 3Q profit falls
Nov 7 2006 6:46AM (CT)
ENGLEWOOD, Colo. (AP) - Satellite television operator EchoStar Communications Corp. said Tuesday that its third-quarter profit tumbled 33 percent compared with the year-ago period, which was boosted by a tax benefit.
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Munich Re AG: 3Q profit up 45 percent
Nov 7 2006 6:11AM (CT)
FRANKFURT, Germany (AP) - Munich Re AG, the world's second-largest reinsurer, said Tuesday its third-quarter profit rose 45 percent because of a lack of major disaster-related claims, but still fell short of analysts' expectations.
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Court: BLM violated rodent's protection
Nov 7 2006 4:36AM (CT)
GRANTS PASS, Ore. (AP) - A small rodent that lives in the treetops of old growth forests is blocking two timber sales in southwestern Oregon.
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Dollar drops against yen
Nov 7 2006 4:33AM (CT)
TOKYO (AP) - The dollar fell against the yen in Asia Tuesday after hawkish comments from Japan's central bank governor spurred overseas investors to bet that the bank could hike rates again before the year's end.
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OPEC President: No price floor to defend
Nov 7 2006 2:23AM (CT)
SEOUL, South Korea (AP) - The Organization of Petroleum Exporting Countries doesn't have a specific price floor or band that it wants to defend, the group's president said Tuesday.
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