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James Hardie OKs asbestos funding deal
Nov 30 2005 11:54PM (CT)
SYDNEY, Australia (AP) - Building materials company James Hardie on Thursday signed a multibillion-dollar agreement to compensate victims of lung diseases caused by its asbestos products.
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Third Disney leader E. Cardon Walker dies
Nov 30 2005 11:09PM (CT)
BURBANK, Calif. (AP) - E. Cardon "Card" Walker, who led The Walt Disney Co. after the death of co-founder Roy O. Disney, has died at age 89, Disney officials said Wednesday.
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Australia, East Timor agree on seabed deal
Nov 30 2005 11:00PM (CT)
CANBERRA, Australia (AP) - Australia and East Timor have agreed on how to carve up billions of dollars in revenue from disputed oil and gas reserves beneath the sea that divides them, Australia's foreign minister announced Thursday.
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Samsung pleads guilty in price-fixing case
Nov 30 2005 10:47PM (CT)
SAN FRANCISCO (AP) - Samsung, the world's largest maker of computer memory chips, pleaded guilty Wednesday to a charge it participated in a worldwide price-fixing conspiracy that damaged competition and raised PC prices.
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Japanese stocks edge higher
Nov 30 2005 10:07PM (CT)
TOKYO (AP) - Japanese stocks edged higher Thursday morning, rebounding from a session of profit-taking a day earlier. The dollar dipped against the yen.
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Glasscock elected WellPoint board chairman
Nov 30 2005 9:46PM (CT)
INDIANAPOLIS (AP) - The president and chief executive officer of health insurance giant WellPoint Inc. has another title _ chairman of the company's board of directors, the company announced Wednesday.
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Oil executives deny misleading Congress
Nov 30 2005 9:41PM (CT)
WASHINGTON (AP) - Five oil industry executives acknowledged frequent company contacts with government officials to discuss energy issues but insisted they had responded truthfully at a recent Senate hearing when they denied participating in Vice President Dick Cheney's 2001 energy task force.
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Pfizer names Hoover as new R&D chief
Nov 30 2005 9:31PM (CT)
GROTON, Conn. (AP) - Pfizer Inc. has named an 18-year pharmaceutical industry veteran to head its sprawling research and development unit.
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Antigua to develop Internet gambling
Nov 30 2005 9:29PM (CT)
ST. JOHN'S, Antigua (AP) - Antigua will continue developing its Internet gambling industry despite pressure from the United States to prohibit the practice, the finance minister said Wednesday.
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Doctor: Vioxx was factor in man's death
Nov 30 2005 9:22PM (CT)
HOUSTON (AP) - Merck & Co.'s former blockbuster drug Vioxx helped cause a blood clot that triggered the fatal heart attack of a Florida man, a pathologist testified on Wednesday at the first federal trial concerning the pain killer's safety.
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Merck to shut Japan plants, cut N.J. jobs
Nov 30 2005 9:19PM (CT)
TRENTON, N.J. (AP) - Drug maker Merck & Co. said Wednesday it will shut down some operations in Japan and eliminate jobs in England and New Jersey, bringing to nearly 2,000 the number of job cuts detailed so far in a sweeping, three-year reorganization plan.
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Oil prices climb on drop in inventories
Nov 30 2005 9:18PM (CT)
NEW YORK (AP) - Crude-oil futures rose Wednesday after the U.S. government reported drops in crude and gasoline inventories last week.
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Domtar to cut jobs, close or sell mills
Nov 30 2005 9:16PM (CT)
MONTREAL (AP) - Canadian paper-maker Domtar Inc. is cutting 1,800 jobs and plans to close or sell several mills as part of a plan to steer the company back into profitability amid a downturn in the paper industry.
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EU: Farm trade focus impedes WTO talks
Nov 30 2005 9:16PM (CT)
BRUSSELS, Belgium (AP) - The European Union accused the United States and others Wednesday of focusing excessively on farm trade at the expense of other aspects of liberalizing world trade and repeated it will not make a new offer to cut its agricultural tariffs.
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Taser lawsuit goes to trial in Arizona
Nov 30 2005 8:43PM (CT)
PHOENIX (AP) - A former sheriff's deputy suing stun gun maker Taser International Inc. never would have agreed to be shocked during training if he had known the potential dangers of the stun gun, his lawyer told jurors Wednesday.
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Judge wants facts in Delta case in context
Nov 30 2005 8:34PM (CT)
NEW YORK (AP) - On the fifth day of hearings focused on Delta Airlines Inc.'s request to break a collective bargaining agreement with its pilots, Judge Prudence Carter Beatty hinted at how she may arrive at a decision on this hotly contested aspect of the airline's bankruptcy case.
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Bally hires JPMorgan for possible sale
Nov 30 2005 7:33PM (CT)
NEW YORK (AP) - Bally Total Fitness Holding Corp. announced Wednesday that it has retained JPMorgan Securities Inc. "to explore strategic alternatives" that could include the sale or merger of the company.
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S&P downgrades Louisiana's credit rating
Nov 30 2005 7:05PM (CT)
BATON ROUGE, La. (AP) - The credit ratings on Louisiana's general obligation bonds and certain types of state debt were lowered a notch on Wednesday by one of the major rating agencies because of the state's financial struggles and uncertainties after Hurricane Katrina.
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Recovery for Calpine bondholders is tricky
Nov 30 2005 6:52PM (CT)
NEW YORK (AP) - Calpine Corp. may be close to bankruptcy or debt restructuring, but it may not be as bad as it seems for some of the company's bondholders.
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Icahn threatens to sue Time Warner board
Nov 30 2005 6:43PM (CT)
NEW YORK (AP) - Carl Icahn, the billionaire financier who is taking on Time Warner Inc., ratcheted up his rhetoric against the giant media conglomerate Wednesday, threatening to sue its directors if they make a deal for AOL that Icahn finds unacceptable.
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Jaguar may consider selling U.K. plant
Nov 30 2005 6:36PM (CT)
LONDON (AP) - Ford Motor Co.'s Jaguar unit said Wednesday it may consider selling its historic Browns Lane plant near Coventry, England, as part of a recovery plan aimed at boosting its sagging fortunes.
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Judge suggests Pa. regulators OK merger
Nov 30 2005 6:29PM (CT)
HARRISBURG, Pa. (AP) - A judge recommended that state regulators approve the merger of Public Service Enterprise Group Inc. and Exelon Corp., a union that would create the country's largest power-generation company.
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Marsh board OKs exec bonus ahead of sale
Nov 30 2005 6:27PM (CT)
INDIANAPOLIS (AP) - Days before Marsh Supermarkets Inc. officials announced that financial woes might force them to put the company up for sale, board members approved a $250,000 bonus for the chain's chief financial officer, records show.
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Floods hurt Chiquita banana production
Nov 30 2005 6:25PM (CT)
CINCINNATI (AP) - Chiquita Brands International Inc. said on Wednesday that flooding in Central America will hurt its banana production and distribution for at least several months, resulting in a fourth-quarter charge of $13 million to $18 million.
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2 Nortel Networks execs leave company
Nov 30 2005 6:24PM (CT)
TORONTO (AP) - Two weeks after the arrival of Nortel Networks' new chief executive officer, Mike Zafirovski, the communications equipment maker said Wednesday that its chief research officer and global services president have left the company.
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Croce joins Trump on proposed venture
Nov 30 2005 6:22PM (CT)
HARRISBURG, Pa. (AP) - Pat Croce, the former president of the Philadelphia 76ers basketball team and now a motivational speaker and author, has joined Donald Trump's casino company in a bid to build a slot-machine parlor in Philadelphia, the company said Wednesday.
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Bausch & Lomb again delays filing results
Nov 30 2005 6:20PM (CT)
ROCHESTER, N.Y. (AP) - Bausch & Lomb Inc. is holding off on filing third-quarter earnings results with federal regulators as it investigates complaints of improper conduct by the management of its Brazilian subsidiary.
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Tiffany 3Q profit up 37 percent to $23.8M
Nov 30 2005 6:20PM (CT)
NEW YORK (AP) - Fine jewelry retailer Tiffany & Co. on Wednesday said third-quarter earnings grew 37 percent on higher profit margins, a lower tax rate and sales growth.
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Friedman's to pay $2M to settle charges
Nov 30 2005 5:56PM (CT)
WASHINGTON (AP) - Friedman's Inc. said Wednesday that it has reached a settlement with the U.S. Justice Department under which the jewelry merchant will avoid criminal charges and pay $2 million to a fund aimed at preventing fraud.
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Krispy Kreme likely won't meet deadline
Nov 30 2005 5:39PM (CT)
CHARLOTTE, N.C. (AP) - A number-by-number revision of flawed financial statements dating back four years will probably keep Krispy Kreme Doughnuts Inc. from meeting a Dec. 15 deadline set by its lenders for submitting the overdue reports, the company's interim chief executive said Wednesday.
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Alcan to close Illinois plant by March
Nov 30 2005 5:35PM (CT)
CENTRALIA, Ill. (AP) - Aluminum producer Alcan Inc. said Wednesday it will close its plastic packaging plant here by March and lay off all 221 employees, the latest large exodus of jobs from this struggling southern Illinois community.
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Harrah's to build leisure complex in Spain
Nov 30 2005 5:33PM (CT)
MADRID, Spain (AP) - Harrah's Entertainment Inc., operator of casinos such as Caesars, on Wednesday announced a project to build a Las Vegas-style gambling and leisure complex in Ciudad Real, 190 kilometers (118 miles) south of Madrid.
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Ex-BD doctor sues over wrongful firing
Nov 30 2005 5:16PM (CT)
TRENTON, N.J. (AP) - A doctor twice promoted by medical device maker BD alleges he was illegally fired after repeatedly complaining about serious company breaches in safety, quality control and ethics, including deliberately keeping off the market syringes that could have stretched the supply of flu shots during the 2004 vaccine shortage.
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Chirac sees network touting France values
Nov 30 2005 5:14PM (CT)
PARIS (AP) - A French international TV network slated to start in 2006 will be a vehicle to transmit France's values and world vision to other parts of the globe, President Jacques Chirac said Wednesday.
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Fannie Mae portfolio shrinks in October
Nov 30 2005 5:12PM (CT)
NEW YORK (AP) - Fannie Mae Wednesday said its mortgage investment portfolio shrank by an annualized rate of 16.1 percent in October for a balance of $717.2 billion.
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Wednesday's commodities roundup
Nov 30 2005 5:03PM (CT)
NEW YORK (AP) - Gold futures settled lower Wednesday at the New York Mercantile Exchange after testing the $500 an ounce level in overnight trade for the second day in a row.
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Bombardier posts 3rd-quarter loss of $9M
Nov 30 2005 5:00PM (CT)
MONTREAL (AP) - Bombardier Inc. reported a loss in the latest quarter and posted lower revenue as tough conditions continued in the aircraft industry.
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Smithfield Foods 2Q profit down to $51.6M
Nov 30 2005 4:39PM (CT)
SMITHFIELD, Va. (AP) - Smithfield Foods Inc. said Wednesday its second-quarter profit fell nearly 12 percent because of one-time charges for restructuring at the world's largest pork processor including the closing of a plant in Salem and the elimination of 344 jobs.
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De Beers to pay $250M to settle charges
Nov 30 2005 4:26PM (CT)
LONDON (AP) - De Beers SA, the world's largest producer of diamonds, Wednesday said it has agreed to pay $250 million to settle four U.S. class-action lawsuits that accused it of overcharging.
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Commercial fishermen form national group
Nov 30 2005 4:19PM (CT)
GRANTS PASS, Ore. (AP) - Long splintered into small groups, commercial fishermen are putting together a national organization to promote their image and press their interests before Congress.
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Brazil economic growth slows in 3rd qtr.
Nov 30 2005 3:59PM (CT)
SAO PAULO, Brazil (AP) - Brazil's economy expanded at half the expected pace in the third quarter as sky-high interest rates imposed by the central bank to keep inflation down prevented businesses from boosting production and hiring workers, the government said Wednesday.
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Britain to weigh raising retirement age
Nov 30 2005 3:46PM (CT)
LONDON (AP) - The British government said Wednesday it will consider raising the retirement age as high as 69 as recommended by a panel commissioned to avert a looming funding crisis in the state pension system as people live longer and have fewer children.
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Wall Street touts hybrid securities
Nov 30 2005 3:33PM (CT)
NEW YORK (AP) - Wall Street is trying to woo fixed-income investors with its recent makeover of hybrid securities _ credit instruments carrying both equity and debt features.
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U.S., EU face illegal subsidies charges
Nov 30 2005 3:20PM (CT)
GENEVA (AP) - The United States and European Union are paying illegal subsidies to their producers of corn, wine, dairy produce and other farm goods, the international aid group Oxfam said Wednesday.
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Report: Chinese automakers face obstacles
Nov 30 2005 3:16PM (CT)
DETROIT (AP) - China's rapidly expanding automotive industry faces so many obstacles it will likely be 10 to 20 years before Chinese automakers can compete globally in vehicle design, manufacturing and sales, according to a report issued Wednesday.
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Northwest posts $346M loss in bankruptcy
Nov 30 2005 3:08PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. lost $346 million during the first six weeks of its bankruptcy, the company said on Wednesday.
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EU announces customs code to boost trade
Nov 30 2005 3:04PM (CT)
BRUSSELS, Belgium (AP) - A new customs code for the European Union will result in a 50 billion-euro ($60 billion) increase in trade each year by speeding imports and exports and cutting costs, the European Commission said Wednesday.
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Actions Semiconductor shares unchanged
Nov 30 2005 2:53PM (CT)
WASHINGTON (AP) - Shares of Actions Semiconductor Co., a Chinese maker of chips for portable media players, largely unchanged from their initial public offering price Wednesday, their first day of trading.
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Fraud claims against Scrushy dismissed
Nov 30 2005 2:25PM (CT)
BIRMINGHAM, Ala. (AP) - The judge in the government's civil lawsuit over the huge earnings overstatement at HealthSouth Corp. threw out fraud claims against fired CEO Richard Scrushy, who was previously acquitted on criminal charges in the scheme.
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Sports agent's ex-partner settles with SEC
Nov 30 2005 1:57PM (CT)
WASHINGTON (AP) - A federal judge has ordered the former business partner of prominent sports agent William H. "Tank" Black to pay about $214,000 to settle charges that he schemed with Black to defraud about two dozen of their firm's clients.
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Palm stock up on negative ruling for RIM
Nov 30 2005 1:56PM (CT)
CHARLOTTE, N.C. (AP) - Palm Inc. stock rose Wednesday after competitor Research In Motion Ltd., the maker of the Blackberry e-mail pager, had a setback in a patent case.
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Group of firms offers $12 billion for TDC
Nov 30 2005 1:51PM (CT)
COPENHAGEN, Denmark (AP) - A group of private equity firms is offering about $12 billion in cash for Denmark's largest telecom operator, TDC A/S, and the company's board recommended that shareholders accept the deal that would be the second biggest leveraged buyout ever.
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Merkel vows to reignite German economy
Nov 30 2005 1:45PM (CT)
BERLIN (AP) - Germany's new Chancellor Angela Merkel vowed on Wednesday to reignite the country's economic growth, but warned the path would be arduous and rife with sacrifice.
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Union Leader offers employees buyouts
Nov 30 2005 1:21PM (CT)
MANCHESTER, N.H. (AP) - The New Hampshire Union Leader, the largest newspaper in the state, is looking to cut its payroll by 9 percent and is offering employees a voluntary buyout plan in an effort to avoid layoffs.
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Television tube plant to close in Ohio
Nov 30 2005 1:10PM (CT)
TROY, Ohio (AP) - A television tube plant that once was this west-central Ohio town's largest employer will close by the end of the March, eliminating about 700 jobs, the plant's owner said on Wednesday.
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Visicu files for IPO of up to $65 million
Nov 30 2005 12:54PM (CT)
WASHINGTON (AP) - Visicu Inc., a Baltimore-based company that makes computer systems for hospital intensive-care units, registered Tuesday for an initial public offering of up to $65 million in common stock.
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Host America dismisses CEO Ramsey
Nov 30 2005 12:54PM (CT)
WASHINGTON (AP) - Host America Corp., a food-service company, Tuesday said it had fired Geoffrey Ramsey, its president and chief executive.
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Rioting deepens French consumer gloom
Nov 30 2005 11:54AM (CT)
PARIS (AP) - Consumer confidence fell to an eight-year low during France's suburban rioting, despite a steady decline in the jobless rate, official data revealed Wednesday.
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Black associate fails to appear in court
Nov 30 2005 11:46AM (CT)
CHICAGO (AP) - A Canadian associate of former press baron Conrad Black failed to appear in court Wednesday for his arraignment on federal fraud charges, prompting a government prosecutor to warn that extradition proceedings could start shortly.
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Euro-zone inflation drops for second month
Nov 30 2005 11:35AM (CT)
BRUSSELS, Belgium (AP) - Inflation in the 12 countries using the euro declined for a second month to 2.4 percent in November, the EU statistical agency Eurostat said in its first estimate released Wednesday.
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Smithfield Foods 2Q profit dips on charges
Nov 30 2005 11:07AM (CT)
SMITHFIELD, Va. (AP) - Smithfield Foods Inc., the world's largest pork processor, said Wednesday its second-quarter profit fell nearly 12 percent because of one-time restructuring charges and announced it is closing a processing plant in Salem that is among its oldest.
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Yukos shares surge on holder speculation
Nov 30 2005 11:05AM (CT)
MOSCOW (AP) - Shares in OAO Yukos jumped Wednesday amid speculation the stricken Russian oil company's controlling shareholder may be ready to cede control.
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EU, U.S. pledge zero tolerance on fakes
Nov 30 2005 11:03AM (CT)
BRUSSELS, Belgium (AP) - The European Union and the United States will take a "zero tolerance" approach to counterfeiting around the world, senior officials said Wednesday.
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Gov't holding co. sells Mexicana Airlines
Nov 30 2005 9:04AM (CT)
MEXICO CITY (AP) - Cintra SA, Mexico's government-run airline holding company, said it had agreed to sell the country's No. 2 carrier, Mexicana, to the Grupo Posadas hotel chain for $165.5 million, plus debt and other financial considerations.
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India's economy expands on tourism growth
Nov 30 2005 8:24AM (CT)
NEW DELHI (AP) - India's economy expanded 8.1 percent in the April-September period compared to a year ago, lifted by strong manufacturing and buoyant growth in tourism and financial services, the government said Wednesday.
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Lloyd's of London: storms may cause loss
Nov 30 2005 8:12AM (CT)
LONDON (AP) - Claims from hurricane damage this year have exceeded the total for the Sept. 11 attacks and may push Lloyd's of London into a deficit this year, the specialist insurance market said Wednesday.
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Stars of innovation win awards in Japan
Nov 30 2005 6:51AM (CT)
TOKYO (AP) - Computer-chip embedded cards that make cashless payments, painless syringes, therapeutic planetariums and a singing duo who inspired a U.S. cartoon are among the Japanese products winning honors Wednesday for innovation.
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British Airways to cut about 600 jobs
Nov 30 2005 6:28AM (CT)
LONDON (AP) - British Airways PLC will cut its management force by 35 percent, or about 600 jobs, by 2008 in a cost-reduction drive, the airline said Wednesday.
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Tokyo Broadcasting System, Rakuten to talk
Nov 30 2005 5:59AM (CT)
TOKYO (AP) - Tokyo Broadcasting System Inc. said Wednesday it is preparing to enter talks with Internet retailer Rakuten Inc. on forging a tie-up, signaling the two parties in Japan's latest takeover battle are making peace.
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Bank of Japan denies rift over deflation
Nov 30 2005 3:56AM (CT)
KAGOSHIMA, Japan (AP) - Japan's consumer prices are in an upward trend, Deputy Bank of Japan Governor Kazumasa Iwata said Wednesday, suggesting that the conditions for ending the central bank's ultra-easy policy are falling into place.
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Highest paying jobs are in the East
Nov 30 2005 2:57AM (CT)
WASHINGTON (AP) - The East Coast may be losing residents to states in the South and West, but many of the high-paying jobs have stayed behind.
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AIG to sell stake in Taiwanese airline
Nov 30 2005 2:51AM (CT)
TAIPEI, Taiwan (AP) - Taiwan's Far Eastern Air Transport Corp. said Wednesday that U.S.-based American International Group Inc. plans to sell its 18 percent stake in the airline.
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China firms ordered to compensate Hennessy
Nov 30 2005 2:50AM (CT)
SHANGHAI, China (AP) - A Shanghai court said Wednesday that it has ordered two Chinese companies to pay a total of 300,000 yuan, or $37,000, to liquor maker Societe Jas Hennessy & Co. and stop selling products that violate its trademark.
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Ex-Kanebo execs admit falsifying records
Nov 30 2005 2:50AM (CT)
TOKYO (AP) - Former executives at struggling Japanese cosmetics maker Kanebo pleaded guilty Wednesday to falsifying financial statements to secure their positions, a court official said.
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Court OKs Aloha bankruptcy plan
Nov 30 2005 1:12AM (CT)
HONOLULU (AP) - A U.S. Bankruptcy Court approved a reorganization plan Tuesday to bring Aloha Airlines out of bankruptcy, hours after the company reached a tentative contract agreement with its pilots.
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