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Management guru Peter Drucker, 95, dies
Nov 11 2005 10:47PM (CT)
LOS ANGELES (AP) - Peter F. Drucker, revered as the father of modern management for his numerous books and articles stressing innovation, entrepreneurship and strategies for dealing with a changing world, died Friday. He was 95.
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Probe: 2 ex-VW execs spent money on trips
Nov 11 2005 7:15PM (CT)
FRANKFURT, Germany (AP) - An auditor's investigation into claims of bribery and kickbacks at Volkswagen AG detailed more than 1 million euros in company money that two former executives spent on luxury trips and private parties, VW said Friday.
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The Sun seeks 75 job cuts with buyouts
Nov 11 2005 6:47PM (CT)
BALTIMORE (AP) - The (Baltimore) Sun will offer buyouts to its staff with the goal of eliminating 75 jobs, or about 5 percent of its work force, the latest in a series of staff reductions at Maryland's largest newspaper, Sun publisher Denise Palmer announced Friday.
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UAW members OK GM health care proposal
Nov 11 2005 6:44PM (CT)
DETROIT (AP) - General Motors Corp. got some relief from its spiraling health care costs as auto workers agreed to pay more of their health costs, but analysts said the ailing automaker must do more to turn around its North American operations.
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NASD backs regulatory venture with NYSE
Nov 11 2005 6:11PM (CT)
BOCA RATON, Fla. (AP) - The National Association of Securities Dealers endorsed a regulatory "partnership" with the New York Stock Exchange, as the two Wall Street regulators seek ways to lower costs and reduce duplication in policing.
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SEC chairman addresses Wall Street group
Nov 11 2005 6:08PM (CT)
WASHINGTON (AP) - The chairman of the Securities and Exchange Commission reassured a Wall Street crowd on Friday that the agency will lend a sympathetic ear to complaints about overly burdensome regulation in its effort to improve market competition. At the same time, Chairman Christopher Cox said the SEC will continue to put investor protection first.
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Stolen computer has credit data for 3,600
Nov 11 2005 5:35PM (CT)
CHICAGO (AP) - A desktop computer stolen last month from one of the nation's three major credit bureaus contained Social Security numbers and other credit information for as many as 3,600 people, the company confirmed Friday.
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Lawyers: Next Vioxx case tough for Merck
Nov 11 2005 5:22PM (CT)
TRENTON, N.J. (AP) - The next Vioxx product-liability case to come to trial in New Jersey will likely be a tougher battle for manufacturer Merck & Co., which last week got its first courtroom victory in a case involving short-term use of the now-withdrawn painkiller.
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Union supports labor deal with Northwest
Nov 11 2005 5:07PM (CT)
EAGAN, Minn. (AP) - Northwest Airlines Inc. said Friday members of the Aircraft Technical Support Association voted for a labor deal that will save the bankrupt carrier $2.25 million yearly.
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SeaChange shares rise on analyst upgrade
Nov 11 2005 5:06PM (CT)
NEW YORK (AP) - Shares of SeaChange International Inc. climbed Friday, after brokerage Needham & Co. upgraded the maker of video-on-demand systems on expectations of rising demand for its products.
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U.S. cos. sell $259M of goods to Cuba
Nov 11 2005 5:03PM (CT)
HAVANA (AP) - American companies sold $259 million of food and agricultural products to Cuba at a trade fair last week, the head of the island's food import company Alimport said Friday.
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Six Flags urges investors to nix takeover
Nov 11 2005 4:56PM (CT)
OKLAHOMA CITY (AP) - Six Flags Inc. urged its shareholders to reject an effort by Washington Redskins owner Dan Snyder to take control of the theme park company.
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Clear Channel Outdoor shares rise 3 pct.
Nov 11 2005 4:49PM (CT)
WASHINGTON (AP) - Shares of Clear Channel Outdoor Holdings Inc. rose slightly Friday as the outdoor-advertising company had its trading debut on the New York Stock Exchange.
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Dell shares rise amid investor relief
Nov 11 2005 4:45PM (CT)
DALLAS (AP) - Shares of computer giant Dell Inc. rose Friday amid investor relief that the company's earnings in the third quarter did not fall even further, analysts said.
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E.W. Scripps issues warning on 4Q profit
Nov 11 2005 4:43PM (CT)
CINCINNATI (AP) - E.W. Scripps Co., a newspaper and cable network company, said Friday it expects fourth-quarter earnings to be at the low end of its expectations because of Hurricane Wilma's effect on its Florida operations.
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Former oil exec suspected in embezzlement
Nov 11 2005 4:42PM (CT)
SNYDER, Texas (AP) - Oil and gas drilling operator Patterson-UTI Energy Inc. said it suspected a former officer may have embezzled $70 million over five years, news that sent the company's shares sharply lower on Friday.
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Judge OKs $282M cash bid for Refco unit
Nov 11 2005 4:41PM (CT)
NEW YORK (AP) - A federal bankruptcy judge approved a $282 million cash bid for Refco Inc.'s last viable business unit while, 13 blocks away, Refco's former chief executive was formally indicted on securities and wire fraud charges stemming from the commodity broker's collapse.
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Serena Software to be acquired for $1.2B
Nov 11 2005 4:38PM (CT)
SAN MATEO, Calif. (AP) - Serena Software Inc. said Friday it agreed to sell itself for $1.2 billion to investment firm Silver Lake Partners in a deal that would result in the software maker becoming a private company.
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Wendy's mulls closing some Tim Hortons
Nov 11 2005 4:36PM (CT)
COLUMBUS, Ohio (AP) - Wendy's International Inc. said Friday it is considering closing fewer than five of its Tim Hortons restaurants in the United States by the end of the year.
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Survey: Granola bar sales are on rise
Nov 11 2005 4:20PM (CT)
CHICAGO (AP) - Granola bar sales are booming, especially in Los Angeles. Lay's rules the potato chip market, but not in Philadelphia or Baltimore. And Oreos are the top-selling cookie, period.
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Canada, U.S. reach deal on air travel
Nov 11 2005 3:14PM (CT)
OTTAWA (AP) - Canada has reached a deal with the United States to liberalize air travel and cargo transport between the two countries and beyond, Canada's Transport Minister announced Friday.
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Roche under pressure to cut Tamiflu prices
Nov 11 2005 3:10PM (CT)
BASEL, Switzerland (AP) - Swiss drug maker Roche Holding Ltd. has found itself sitting on a gold mine with its Tamiflu antiviral drug in hot demand as the best defense against an influenza pandemic.
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Catholic League calls off Wal-Mart boycott
Nov 11 2005 2:50PM (CT)
LITTLE ROCK, Ark. (AP) - A Roman Catholic civil rights group called off a boycott of Wal-Mart on Friday after the world's largest retailer apologized for an employee's e-mail that called Christmas a mix of world religions.
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Siemens to cut 3,000 jobs at IT unit
Nov 11 2005 2:31PM (CT)
FRANKFURT, Germany (AP) - German electronics company Siemens AG said Friday it will cut 3,000 jobs its at information technology unit Siemens Business Services, increasing the cuts from the 2,400 announced in September.
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DaimlerChrysler sells Mitsubishi stake
Nov 11 2005 2:31PM (CT)
FRANKFURT, Germany (AP) - Automaker DaimlerChrysler AG ended its ill-fated involvement with Japan's Mitsubishi Motors Co. on Friday, selling its 12.4 percent stake in the company to Goldman Sachs for an undisclosed price.
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First Marblehead up; Chase extends pact
Nov 11 2005 1:50PM (CT)
NEW YORK (AP) - Shares of First Marblehead Corp. leaped Friday, after Chase Education Finance extended its contract with the company.
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United to hire 2,000 flight attendants
Nov 11 2005 1:34PM (CT)
CHICAGO (AP) - United Airlines said Friday it plans to hire 2,000 flight attendants in the coming year, the first time it has added to its flight attendant ranks in four years.
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Weekly oil and gas rig count down by 17
Nov 11 2005 1:19PM (CT)
HOUSTON (AP) - The number of rigs actively exploring for oil and natural gas in the United States declined by 17 this week to 1,479.
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Alitalia shares drop after announcement
Nov 11 2005 12:35PM (CT)
MILAN, Italy (AP) - Shares in cash-strapped Alitalia SpA dropped sharply Friday after the Italian national carrier announced a 1.01 billion euros ($1.18 billion) rights issue for shares at a massive discount.
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Fruit of the Loom to close 2 Irish plants
Nov 11 2005 10:58AM (CT)
DUBLIN, Ireland (AP) - Fruit of the Loom, once the largest textile employer in Ireland, told its workers Friday it plans to close both of its plants on the island early next year, more quickly than expected.
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EU gov'ts delay vote on chemicals policy
Nov 11 2005 10:47AM (CT)
BRUSSELS, Belgium (AP) - European Union governments will delay a vote on a contentious new plan to overhaul the bloc's chemicals policy, officials said Friday.
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Nishikawa to lead postal privatization
Nov 11 2005 10:15AM (CT)
TOKYO (AP) - The Japanese government Friday announced that Yoshifumi Nishikawa, the former president of Sumitomo Mitsui Banking Corp., will lead preparation of the privatization of Japan's mammoth postal corporation. The privatization begins October 2007.
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E-Class to be fully produced in Germany
Nov 11 2005 10:00AM (CT)
FRANKFURT, Germany (AP) - DaimlerChrysler AG, which is trying to streamline its operations, said Friday that all versions of its Mercedes E-Class would be produced in Germany starting in 2007.
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Folgers New Orleans plant back in operation
Nov 11 2005 9:48AM (CT)
CINCINNATI (AP) - The Procter & Gamble Co.'s Folgers coffee plant in New Orleans has returned to full capacity, 11 weeks after being shut down by Hurricane Katrina.
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Allianz 3Q profit soars despite storms
Nov 11 2005 9:32AM (CT)
FRANKFURT, Germany (AP) - Allianz AG said Friday its third-quarter profit rose 70 percent despite this summer's costly hurricanes, on a better-than-expected profit from its insurance units and a decline in bad debt provisions.
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Telefonica 3Q net profit jumps 53 percent
Nov 11 2005 8:55AM (CT)
MADRID, Spain (AP) - Telefonica SA, the biggest telecommunications company in Spain and Latin America, posted a 53 percent profit increase for the third quarter on Friday and raised its full-year revenue targets.
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Gazprom still aims to remove restrictions
Nov 11 2005 8:54AM (CT)
MOSCOW (AP) - Natural gas monopoly Gazprom still wants to remove restrictions on foreigners owning its shares, a company spokesman said Friday, a day after a government official said lifting the ban could be delayed until next year.
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Japan economy expands on consumer spending
Nov 11 2005 8:40AM (CT)
TOKYO (AP) - Japan's economy expanded at an annual pace of 1.7 percent in July-September on healthy consumer spending and booming trade, marking the fourth consecutive quarter of growth, the government said Friday.
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India's industrial growth sharply slows
Nov 11 2005 8:08AM (CT)
NEW DELHI (AP) - India's industrial growth sharply slowed to 7.2 percent in the July-September quarter from 10.4 percent in the previous quarter, according to government data released Friday, and analysts said the slowdown _ due in part to high oil prices _ would likely continue.
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Microsoft reaches $30M settlement with co.
Nov 11 2005 7:59AM (CT)
SEOUL, South Korea (AP) - Microsoft Corp. has reached a $30 million settlement with a South Korean company that accused it of violating trade rules by tying its instant messenger software to Windows, the companies announced Friday.
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Airbus superjumbo attracting interest
Nov 11 2005 6:57AM (CT)
SINGAPORE (AP) - The bigger the better. The world's largest passenger jet, the Airbus A380, has attracted interest from private individuals seeking a new luxurious travel experience, Airbus officials said Friday.
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Delta reports wider $1.13 billion loss
Nov 11 2005 6:14AM (CT)
ATLANTA (AP) - Delta Air Lines Inc., which is operating under bankruptcy court protection, blamed high fuel costs Thursday as it reported a wider third-quarter loss of $1.13 billion and said it is concerned it continues to use borrowed money to fund its red ink.
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Former Refco chief executive indicted
Nov 11 2005 6:13AM (CT)
NEW YORK (AP) - The former chief executive of Refco Inc., one of the world's biggest commodities brokerages, engaged in a conspiracy that caused Refco to sell $583 million in stock to the public based on "false and fraudulent" statements of its finances, an indictment charged Thursday.
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Hong Kong's top trade negotiator warns WTO
Nov 11 2005 5:50AM (CT)
HONG KONG (AP) - Hong Kong's top trade negotiator warned Friday that if the World Trade Organization's ministerial meeting here next month fails, it would be a disaster for small nations and the global trading system.
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Japanese stocks rise, dollar lower
Nov 11 2005 4:44AM (CT)
TOKYO (AP) - Japanese stocks climbed to fresh 4 1/2-year highs Friday as the government reported stronger-than-expected economic growth in the third quarter, bolstering confidence in the nation's recovery. The dollar fell against the yen.
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A380 superjumbo lands in Asia
Nov 11 2005 3:18AM (CT)
SINGAPORE (AP) - The double-decker Airbus A380 made its first landing in Asia on Friday, and Airbus officials assured Asian airlines there will be no further delays in the delivery of the superjumbo, promising to compensate for losses.
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Scientists work on bad-smell predictor
Nov 11 2005 2:11AM (CT)
LINCOLN, Neb. (AP) - It's no secret that cows and pigs stink. The problem is figuring out how bad they stink _ and in which direction that smell will spread beyond the pens and yards where they live.
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Korean Air third-quarter net profit soars
Nov 11 2005 12:39AM (CT)
SEOUL, South Korea (AP) - Korean Air Co., South Korea's biggest airline, reported Friday that third-quarter net profit jumped 59 percent from the same period last year as an increase in fuel costs was absorbed by fuel-surcharges and higher demand for passenger flights.
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Chrysler vows funds for Iacocca foundation
Nov 11 2005 12:32AM (CT)
DETROIT (AP) - Former Chrysler Chairman Lee Iacocca just got a lot closer to his goal of raising $11.5 million for clinical trials of a promising new treatment for diabetes. On Friday, DaimlerChrysler AG's Chrysler Group said its dealers will give Iacocca's foundation $1 for every vehicle sold for the next 14 months.
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