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Oil prices climb on falling gas supplies
Nov 8 2006 11:15PM (CT)
SINGAPORE (AP) - Oil prices rose slightly Thursday in reaction to figures showing lower U.S. gasoline and diesel fuel inventories and to leadership changes in the U.S. Congress following midterm elections.
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2 billionaires bid to acquire Tribune
Nov 8 2006 11:12PM (CT)
LOS ANGELES (AP) - Two Southern California billionaires who had signaled interest in buying the Los Angeles Times instead joined forces Wednesday in a surprise bid for the entire Tribune Co., the Chicago-based parent of the Times and other media properties.
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Cisco Systems 1Q profit jumps 28 percent
Nov 8 2006 11:12PM (CT)
SAN FRANCISCO (AP) - Cisco Systems Inc., the world's largest networking equipment maker, said Wednesday its first-quarter earnings surged 28 percent over last year as customers spent gingerly to upgrade their networks to accommodate faster Internet traffic.
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Japanese stocks mixed; dollar up vs. yen
Nov 8 2006 11:07PM (CT)
TOKYO (AP) - Japanese stocks were mixed Thursday morning amid concerns about a possible temporary lull of Japan's economy. The dollar rose against the yen.
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Cablevision narrows 3Q loss to $59.2M
Nov 8 2006 8:23PM (CT)
NEW YORK (AP) - Cablevision Systems Corp. reported a narrower third-quarter loss Wednesday as the cable TV operator signed up more customers for premium services like high-speed Internet access and digital phone.
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Philadelphia Inquirer editor to exit job
Nov 8 2006 8:18PM (CT)
PHILADELPHIA (AP) - The editor of Philadelphia's largest newspaper will step down at the end of the year as the company's new owners seek contract concessions, including deep newsroom cuts, in response to falling circulation and advertising revenue.
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Napster 2Q loss narrows as revenue grows
Nov 8 2006 8:13PM (CT)
LOS ANGELES (AP) - Napster Inc. said Wednesday its second-quarter loss narrowed from a year ago, beating Wall Street estimates as the online music service saw a boost in revenue.
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U.S. automakers turn to Dems for help
Nov 8 2006 6:37PM (CT)
DETROIT (AP) - They won't celebrate in public, but the Big Three domestic automakers are hoping that Democratic control of the U.S. House and perhaps the Senate will bring a government that's more responsive to their plight as they fight for business with Asian competitors.
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News Corp. earns $843M in first quarter
Nov 8 2006 6:33PM (CT)
NEW YORK (AP) - News Corp. the global media conglomerate controlled by Rupert Murdoch, on Wednesday posted a first-quarter profit on better results from cable and broadcast TV compared with a year ago, when it had a big accounting charge.
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WTO: Fuel exports posted gains in 2005
Nov 8 2006 6:28PM (CT)
GENEVA (AP) - Trade in manufactured goods was the most dynamic feature of global commerce last year, expanding in real terms by 7 percent, the WTO said Thursday.
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Dingell: FCC should delay AT&T vote
Nov 8 2006 5:49PM (CT)
WASHINGTON (AP) - John Dingell, the incoming chairman of the House Energy and Commerce Committee, said Wednesday he wants the Federal Communications Commission to delay its vote on AT&T Inc.'s acquisition of BellSouth Corp.
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Dingell: FCC should delay AT&T vote
Nov 8 2006 5:49PM (CT)
WASHINGTON (AP) - John Dingell, the incoming chairman of the House Energy and Commerce Committee, said Wednesday he wants the Federal Communications Commission to delay its vote on AT&T Inc.'s acquisition of BellSouth Corp.
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UnitedHealth to restate past earnings
Nov 8 2006 5:32PM (CT)
MINNEAPOLIS (AP) - UnitedHealth Group Inc. warned investors on Wednesday that its stock option fiasco will cost much more than the $286 million it previously estimated, and said it would restate earnings all the way back to 1994.
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Dems pledge to scrutinize big business
Nov 8 2006 5:30PM (CT)
WASHINGTON (AP) - The new masters of the House, the Democrats, are promoting an economic agenda that would put more money in the pockets of ordinary citizens and government, while leading to greater oversight of big business.
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McDonald's same-store sales jump in Oct.
Nov 8 2006 4:53PM (CT)
CHICAGO (AP) - Breakfast offerings and a Monopoly game promotion strengthened U.S. results and helped boost McDonald's Corp.'s worldwide same-store sales by 5.5 percent last month, the burger chain said Wednesday.
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GM raises prices on some of its models
Nov 8 2006 4:09PM (CT)
DETROIT (AP) - General Motors Corp. has raised prices an average of 0.5 percent on about one-third of its models due to rising raw materials costs, a company official said Wednesday.
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China trade surplus hits record in Oct.
Nov 8 2006 3:15PM (CT)
BEIJING (AP) - China said Wednesday its politically sensitive trade surplus hit a record high in October as exports soared and import growth fell amid government efforts to rein in an investment boom.
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GM, Toyota leaders meet
Nov 8 2006 1:15PM (CT)
DETROIT (AP) - General Motors Corp. Chairman and Chief Executive Rick Wagoner held separate meetings in Japan Wednesday with leaders of Toyota, Isuzu and Suzuki, GM said.
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Fannie Mae spending over $1B on review
Nov 8 2006 12:34PM (CT)
WASHINGTON (AP) - Fannie Mae said Wednesday it expects to spend more than $1 billion this year on the massive review of its accounting and preparing financial statements as the mortgage giant pushes to complete it by year's end.
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Federated posts 3Q loss of $3 million
Nov 8 2006 12:18PM (CT)
CINCINNATI (AP) - Federated Department Stores Inc., owner of the Macy's and Bloomingdale's chains, on Wednesday said it lost $3 million in the third quarter due mostly to costs related to its acquisition of May Department Stores.
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NYSE Group cutting more than 500 jobs
Nov 8 2006 11:26AM (CT)
NEW YORK (AP) - NYSE Group Inc., the operator of the New York Stock Exchange, on Wednesday said it will cut more than 500 jobs to cut costs, eliminate duplicate services and leverage the results of its March acquisition of the Archipelago electronic exchange.
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DirecTV 3Q profit surges
Nov 8 2006 10:42AM (CT)
EL SEGUNDO, Calif. (AP) - Satellite television broadcaster DirecTV Group Inc. said Wednesday its third-quarter profit nearly quadrupled, driven by higher revenue and a lower rate of customer defection.
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Dynegy posts 3Q loss of $69 million
Nov 8 2006 9:15AM (CT)
HOUSTON (AP) - Dynegy Inc. on Wednesday reported a loss for the third quarter as the power company recorded a large write-down related to a Kentucky power plant. It forecast a bigger loss for the year than it previously estimated.
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Volkswagen shares fall on CEO switch
Nov 8 2006 8:47AM (CT)
FRANKFURT, Germany (AP) - Shares of Volkswagen AG fell Wednesday as investors pondered whether the decision by Europe's biggest car maker to replace its chief executive at the end of the year would help the company stay competitive.
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Future unclear as LA Times editor ousted
Nov 8 2006 8:42AM (CT)
LOS ANGELES (AP) - The future of the Los Angles Times has become even more muddied after editor Dean Baquet, who had defied Times' parent Tribune Co. on slashing newsroom jobs, was forced to resign.
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Cardinal faces 401(k) complaint
Nov 8 2006 8:05AM (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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Brazen thieves steal nut-filled trucks
Nov 8 2006 7:05AM (CT)
FRESNO, Calif. (AP) - At first, Larry Ladd just let it go. But after the farmer caught six thieves plundering his walnut orchard in less than a day, he knew he had a problem.
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EADS swings to loss on A380 delays
Nov 8 2006 6:14AM (CT)
PARIS (AP) - Airbus parent EADS said Wednesday it swung to a third-quarter loss due to problems at the European aircraft maker and warned that the freighter version of its A380 superjumbo could suffer more order cancellations.
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Dollar falls against the yen, euro
Nov 8 2006 6:05AM (CT)
TOKYO (AP) - The dollar declined slightly against the yen and euro Wednesday on speculation for higher interest rates in Japan and as traders waited to assess the fallout of U.S. Congressional elections.
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Japan Airlines returns to black
Nov 8 2006 4:20AM (CT)
TOKYO (AP) - After losing money last fiscal year, Japan Airlines said Wednesday that it had become profitable again in the half-year through September, thanks to route restructuring the contributed to higher international passenger revenue.
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EU chief asks China to fight piracy
Nov 8 2006 12:57AM (CT)
BEIJING (AP) - EU Trade Commissioner Peter Mandelson appealed to China on Wednesday to stamp out widespread product piracy that he said hurts European companies.
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