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Doctor says Vioxx can cause heart attacks
Dec 2 2005 9:54PM (CT)
HOUSTON (AP) - Lawyers for Merck & Co. were expected to cross examine an expert witness on Friday over his belief that the company's former blockbuster pain drug Vioxx can cause heart attacks and can trigger an event in less than a month.
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Japanese stocks surge 1.92 percent
Dec 2 2005 9:54PM (CT)
TOKYO (AP) - Japan's benchmark stock index surged Friday, extending its five-year high amid continued expectations for a sustainable economic recovery in Japan. The U.S. dollar rose against the yen.
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Mazda discourages employees from driving
Dec 2 2005 8:40PM (CT)
TOKYO (AP) - Japanese automaker Mazda Motor Corp. is recommending its employees walk to the office, rather than commute by car, as part of an effort to improve their health and protect the environment, a company spokesman said Friday.
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Boston Scientific recalls medical devices
Dec 2 2005 8:21PM (CT)
NATICK, Mass. (AP) - Boston Scientific Corp. said it is voluntarily recalling 18,000 Vena Cava Filters after receiving reports of detachment of part of the device during the implant procedure.
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G-7 finance ministers to push trade talks
Dec 2 2005 7:26PM (CT)
LONDON (AP) - Finance ministers from the world's seven wealthiest nations will try to inject momentum into stalled global trade talks Saturday in London, just two weeks ahead of a crucial World Trade Organization summit in Hong Kong.
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Ford workers, lawmakers address report
Dec 2 2005 7:00PM (CT)
DETROIT (AP) - Ford Motor Co. workers and local officials said Friday they'll do everything in their power to keep plants open after a report suggested Ford is considering closing five North American plants as part of a major restructuring.
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NYSE, Arca shareholders to vote on deal
Dec 2 2005 6:57PM (CT)
NEW YORK (AP) - Theodore Weisberg has worked on the floor of the New York Stock Exchange for 36 years, through charging bull markets and ferocious bear markets, the 9/11 terror attacks and trading scandals. Now, however, he's facing the biggest change he's seen at the exchange _ indeed, in the 213-year history of the Big Board: the acquisition of all-electronic exchange Archipelago Holdings Inc.
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Regulator cleared in Riggs Bank probe
Dec 2 2005 6:48PM (CT)
WASHINGTON (AP) - Federal investigators have concluded that a regulator who oversaw Riggs Bank during a period of deficient money-laundering controls and later took a job at the bank didn't violate conflict of interest provisions.
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HealthSouth to hold shareholders meeting
Dec 2 2005 6:26PM (CT)
BIRMINGHAM, Ala. (AP) - HealthSouth Corp. said Friday it was scheduling its first shareholders meeting since a fraud scandal broke and soliciting proxy votes to elect a new board _ one without fired chief executive Richard Scrushy.
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Delta, pilots urged to keep negotiating
Dec 2 2005 6:22PM (CT)
NEW YORK (AP) - A New York bankruptcy judge on Friday pressed Delta Airlines Inc. and its pilots union to keep negotiating, marking the sixth day of hearings on the airline's motion to throw out a collective bargaining agreement so it can cut costs.
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Sovereign scales back director's duties
Dec 2 2005 6:15PM (CT)
NEW YORK (AP) - Sovereign Bancorp Inc., which is trying to complete a deal in the face of opposition from shareholders, has quietly stripped one of its directors of his positions on three key board committees.
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Friday's commodities roundup
Dec 2 2005 5:45PM (CT)
NEW YORK (AP) - Gold prices hit a 22-year high Friday, helped by crude-oil prices and general speculative enthusiasm.
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Cingular to add 'push-to-talk' service
Dec 2 2005 5:30PM (CT)
NEW YORK (AP) - Filling a big gap in its product lineup, Cingular Wireless is adding "push-to-talk" service, hoping to make up for lost time with novel features such as icons that show if a contact is available to speak.
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Ex-Dynegy exec may get shorter prison term
Dec 2 2005 5:30PM (CT)
HOUSTON (AP) - A former midlevel Dynegy executive whose 24-year prison term was thrown out by a federal appeals court may receive a shorter sentence for his role in a fraudulent accounting scheme.
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Valeant shares advance on review of drug
Dec 2 2005 5:26PM (CT)
LOS ANGELES (AP) - Shares of Valeant Pharmaceuticals International rose Friday after investors and analysts took a second look at the company's acquisition of hepatitis drug Infergen.
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MTR Gaming Group execs make bid to buy co.
Dec 2 2005 5:21PM (CT)
CHESTER, W.Va. (AP) - MTR Gaming Group Inc. said Friday that it received a takeover offer from two of the company's executives, in a deal that values the multistate racing and gaming operation at about $258.4 million. The company's shares soared 23 percent.
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Canada jobless rate slips in November
Dec 2 2005 5:11PM (CT)
OTTAWA (AP) - Canada's jobless rate fell to 6.4 percent last month, its lowest level in 31 years, lending fuel to Prime Minister Paul Martin's federal election campaign.
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Cooke to help oversee Sun-Times news group
Dec 2 2005 5:07PM (CT)
CHICAGO (AP) - Michael Cooke is leaving his job as editor-in-chief of the New York Daily News to rejoin and help oversee Hollinger International Inc.'s Sun-Times news group.
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Judge keeps NYC gun lawsuit alive
Dec 2 2005 5:04PM (CT)
NEW YORK (AP) - A federal judge ruled Friday that New York City's lawsuit against gun manufacturers can go forward, saying a new federal law designed to shield the industry from legal action does not apply in this case.
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Shares of medical technology cos. rise
Dec 2 2005 4:56PM (CT)
CHICAGO (AP) - Shares of several medical technology companies rose Friday, with Zimmer Holdings Inc. and Stryker Corp. leading the pack in gains.
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Canadian Nat'l to spend $1.3B on projects
Dec 2 2005 4:47PM (CT)
MONTREAL (AP) - Canadian National Railway Co. said Friday it plans to spend more than 1.5 billion Canadian dollars ($1.3 billion) on its infrastructure, productivity initiatives and strategic projects next year, an increase of 9 percent over 2005 spending.
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Lear to keep supplying DaimlerChrysler
Dec 2 2005 4:44PM (CT)
DETROIT (AP) - A circuit court judge has ordered Lear Corp. to keep supplying automaker DaimlerChrysler AG with a steady stream of seats and interior trim for the time being even though the parts maker has argued that higher oil prices have driven its costs sharply higher.
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Calpine issued deadline to restore funds
Dec 2 2005 4:43PM (CT)
WILMINGTON, Del. (AP) - A Delaware judge on Friday gave struggling power merchant Calpine Corp. until Jan. 22 to restore $313.6 million in improperly spent proceeds from the sale of its natural gas supplies back into an escrow account, a decision that could bring the company one step closer to bankruptcy.
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Greenspan: U.S. deficit may hurt economy
Dec 2 2005 4:24PM (CT)
WASHINGTON (AP) - Outgoing Federal Reserve Chairman Alan Greenspan warned Friday that America's exploding budget deficit and a protectionist backlash against soaring trade deficits could disrupt the global economy.
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Oil prices rise above $59 per barrel
Dec 2 2005 3:53PM (CT)
NEW YORK (AP) - Crude-oil prices rose above $59 a barrel Friday, buoyed by natural gas futures surging on forecasts of colder weather.
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W.Va. court upholds tax on coal exports
Dec 2 2005 2:38PM (CT)
CHARLESTON, W.Va. (AP) - West Virginia's Supreme Court on Friday affirmed the state's right to tax coal exports, rejecting coal companies' arguments that its severance tax is actually a sales tax that violates federal protections of interstate commerce.
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Merck cuts highlights how game has changed
Dec 2 2005 2:18PM (CT)
TRENTON, N.J. (AP) - Merck & Co.'s announcement this week that it is slashing its work force by 11 percent and shuttering several plants is as much a reflection of pharmaceutical industry belt-tightening as of Merck's financial and Vioxx-related legal woes.
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Icahn plans $1.19B bid for Fairmont stake
Dec 2 2005 2:14PM (CT)
NEW YORK (AP) - Billionaire investor Carl Icahn, who says Fairmont Hotels & Resorts Inc. should sell itself to a larger competitor, said Friday he plans to launch a $1.19 billion cash offer to obtain a controlling 51 percent stake in the luxury hotel chain.
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G-7 finance ministers to tackle rates
Dec 2 2005 1:32PM (CT)
LONDON (AP) - Finance ministers and central bankers from the world's seven wealthiest nations will tackle interest rates, high energy prices, inflation and trade imbalances as they meet this weekend for the final time under Britain's leadership _ and with Alan Greenspan as chairman of the U.S. Federal Reserve.
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Britain pays tribute to Greenspan
Dec 2 2005 1:31PM (CT)
LONDON (AP) - Britain's Treasury chief Gordon Brown paid tribute Friday to outgoing Federal Reserve Chairman Alan Greenspan, saying he had served his country and the world with distinction.
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OmniVision up; earnings beat Street view
Dec 2 2005 1:13PM (CT)
NEW YORK (AP) - OmniVision Technologies Inc. stock rose Friday, a day after the designer of image sensors for digital cameras said its camera-phone business was thriving.
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Telecoms required to save logs of e-mail
Dec 2 2005 12:55PM (CT)
BRUSSELS, Belgium (AP) - EU justice and interior ministers agreed Friday on plans that would require telecommunications companies to retain records of phone calls and e-mails for a minimum of six months for use in investigations of terrorism and other serious crimes.
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Overstock.com up; CEO buys 60,000 shares
Dec 2 2005 12:47PM (CT)
CHICAGO (AP) - The stock of Overstock.com Inc. stock rose Friday, a day after it filed forms showing that its chief executive purchased 60,000 shares.
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Insurer Equitable Life drops damages claim
Dec 2 2005 12:38PM (CT)
LONDON (AP) - Insurance company Equitable Life said Friday it had dropped its case against the remaining nine of 15 former directors it had tried to sue for damages.
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EU gov'ts want airlines in emissions scheme
Dec 2 2005 12:31PM (CT)
BRUSSELS, Belgium (AP) - European Union governments on Friday backed plans to include all airlines in Europe's emissions trading scheme _ a move likely to re-ignite tensions with the U.S. over the best way to combat climate change.
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DCP Midstream lifts from its IPO price
Dec 2 2005 12:24PM (CT)
WASHINGTON (AP) - The stock of natural-gas pipeline company DCP Midstream Partners LP's rose from its initial public offering price Friday.
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SEC tells NYSE to rethink ban on ex-broker
Dec 2 2005 11:49AM (CT)
WASHINGTON (AP) - The Securities and Exchange Commission has ordered the New York Stock Exchange to rethink its decision to ban for five years a former CIBC World Markets Inc. broker who allegedly tried to fill a prescription for the painkiller Vicodin using a forged signature.
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Westaim files IPO to sell some shares
Dec 2 2005 11:48AM (CT)
WASHINGTON (AP) - Nucryst Pharmaceuticals Corp., a unit of Westaim Corp that makes antibacterial wound dressings, filed an initial public offering Friday to sell 5.77 million common shares at $12 to $14 a share.
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Airline didn't screen workers, faces fines
Dec 2 2005 11:46AM (CT)
PHOENIX (AP) - US Airways faces fines of nearly $180,000 for failing to put employees through background checks before letting them work in secure areas.
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Documents seized for Khodorkovsky probe
Dec 2 2005 11:36AM (CT)
MOSCOW (AP) - Investigators have seized documents at the world's largest titanium-producer in connection with an ongoing fraud and tax-evasion investigation into jailed oil tycoon Mikhail Khodorkovsky, prosecutors said Friday.
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Ex-Brean Murray banker pleads guilty
Dec 2 2005 11:06AM (CT)
NEW YORK (AP) - A former investment banker at Brean Murray & Co. has pleaded guilty to charges that he improperly took about $990,000 in investor funds for his own use through unauthorized wire transfers, prosecutors said.
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Dollar rises in European trading
Dec 2 2005 10:57AM (CT)
BERLIN (AP) - The dollar rose against the euro and other major currencies Friday as the United States reported a rise in payrolls while the unemployment rate held steady at 5 percent on November.
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Major cable companies raising rates
Dec 2 2005 9:57AM (CT)
PHILADELPHIA (AP) - The nation's biggest cable companies are boosting their rates by single-digit percentages, citing rising costs for programming and investment in new services.
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Boeing engineers, others OK contract
Dec 2 2005 7:36AM (CT)
SEATTLE (AP) - Boeing Co.'s engineering and technical employees in the Puget Sound region and three other states approved new three-year labor contracts, the union and company announced.
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Regulators warn Sumitomo Mitsui Bank
Dec 2 2005 7:33AM (CT)
TOKYO (AP) - Japan's anti-monopoly authorities warned Sumitomo Mitsui Banking Corp. on Friday to quit engaging in unfair practices after examining complaints that the the nation's third biggest bank pressured business borrowers to buy other financial products.
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Few U.S. companies ready for flu pandemic
Dec 2 2005 7:23AM (CT)
WASHINGTON (AP) - Most U.S. companies haven't planned for how to stay in business during a flu pandemic, or even if they'll follow federal advice that potentially contagious employees should stay home, a survey suggests.
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Japan lowers economic growth estimate
Dec 2 2005 6:59AM (CT)
TOKYO (AP) - Japan lowered its estimate of economic growth for the fiscal year ended in March to 1.7 percent, saying new data indicates inventories were smaller than initially reported, but said Friday the economy has been recovering on heightened consumer spending.
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Black pleads not guilty to fraud charges
Dec 2 2005 6:10AM (CT)
CHICAGO (AP) - Embattled ex-newspaper tycoon Conrad Black showed up at his arraignment to deny fraud charges and "meet my accusers," claiming he has the advantage now that federal prosecutors' lengthy campaign against him has moved to the courtroom.
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Senate mulls chemical plant regulations
Dec 2 2005 5:14AM (CT)
WASHINGTON (AP) - After years of policing itself, the nation's chemical industry is facing broad federal regulation of security standards at its plants to enforce safeguards against terror attacks.
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Wash. grape growers reap record harvest
Dec 2 2005 5:08AM (CT)
YAKIMA, Wash. (AP) - Wine grape growers in Washington state had a record harvest this year, proving that some crops fare well even in drought conditions.
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Talk show diva Cristina closes magazine
Dec 2 2005 4:11AM (CT)
MIAMI (AP) - Spanish-language talk show diva Cristina Saralegui's namesake magazine is ending after a 15-year run, a surprising turn for the star often described as the Latin cross between Oprah Winfrey and Martha Stewart.
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