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Five-year mortgage rate freeze looms
Dec 5 2007 8:42PM (CT)
WASHINGTON (AP) - The Bush administration has hammered out an agreement to freeze interest rates for certain subprime mortgages for five years to combat a soaring tide of foreclosures, congressional aides said Wednesday.
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FDA panel votes against new Avastin use
Dec 5 2007 8:40PM (CT)
WASHINGTON (AP) - A panel of government experts said Wednesday that Genentech's cancer drug should not be approved for expanded use in breast-cancer patients.
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FDA panel votes against new Avastin use
Dec 5 2007 8:40PM (CT)
WASHINGTON (AP) - A panel of government experts said Wednesday that Genentech's cancer drug should not be approved for expanded use in breast-cancer patients.
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FDA panel votes against new Avastin use
Dec 5 2007 8:40PM (CT)
WASHINGTON (AP) - A panel of government experts said Wednesday that Genentech's cancer drug should not be approved for expanded use in breast-cancer patients.
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Bristol-Myers to trim jobs, factories
Dec 5 2007 7:04PM (CT)
NEW YORK (AP) - First Pfizer, then Merck, now Bristol-Myers Squibb plans to cut jobs as the pharmaceutical industry wrestles with profits being siphoned off to generic drugs.
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Factory orders rise unexpectedly
Dec 5 2007 5:37PM (CT)
WASHINGTON (AP) - Orders to U.S. factories rose unexpectedly in October although much of the gain reflected higher energy prices.
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Treasurys fall on upbeat economic data
Dec 5 2007 5:37PM (CT)
NEW YORK (AP) - Treasury prices dropped Wednesday after two new reports suggested the labor market could be holding up in the face of credit market and housing weakness.
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OPEC holds production steady
Dec 5 2007 5:36PM (CT)
ABU DHABI, United Arab Emirates (AP) - OPEC hedged its bets Wednesday, opting to keep production steady but setting a new meeting for Feb. 1 to raise output if prices skyrocket.
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OPEC holds production steady
Dec 5 2007 5:36PM (CT)
ABU DHABI, United Arab Emirates (AP) - OPEC hedged its bets Wednesday, opting to keep production steady but setting a new meeting for Feb. 1 to raise output if prices skyrocket.
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OPEC holds production steady
Dec 5 2007 5:36PM (CT)
ABU DHABI, United Arab Emirates (AP) - OPEC hedged its bets Wednesday, opting to keep production steady but setting a new meeting for Feb. 1 to raise output if prices skyrocket.
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OPEC holds production steady
Dec 5 2007 5:36PM (CT)
ABU DHABI, United Arab Emirates (AP) - OPEC hedged its bets Wednesday, opting to keep production steady but setting a new meeting for Feb. 1 to raise output if prices skyrocket.
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OPEC holds production steady
Dec 5 2007 5:36PM (CT)
ABU DHABI, United Arab Emirates (AP) - OPEC hedged its bets Wednesday, opting to keep production steady but setting a new meeting for Feb. 1 to raise output if prices skyrocket.
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OPEC holds production steady
Dec 5 2007 5:36PM (CT)
ABU DHABI, United Arab Emirates (AP) - OPEC hedged its bets Wednesday, opting to keep production steady but setting a new meeting for Feb. 1 to raise output if prices skyrocket.
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OPEC holds production steady
Dec 5 2007 5:36PM (CT)
ABU DHABI, United Arab Emirates (AP) - OPEC hedged its bets Wednesday, opting to keep production steady but setting a new meeting for Feb. 1 to raise output if prices skyrocket.
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OPEC holds production steady
Dec 5 2007 5:36PM (CT)
ABU DHABI, United Arab Emirates (AP) - OPEC hedged its bets Wednesday, opting to keep production steady but setting a new meeting for Feb. 1 to raise output if prices skyrocket.
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OPEC holds production steady
Dec 5 2007 5:36PM (CT)
ABU DHABI, United Arab Emirates (AP) - OPEC hedged its bets Wednesday, opting to keep production steady but setting a new meeting for Feb. 1 to raise output if prices skyrocket.
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Gold, silver slip as dollar strengthens
Dec 5 2007 4:39PM (CT)
NEW YORK (AP) - Precious metals prices fell Wednesday after reports of strong job growth and worker productivity boosted the dollar and lessened the appeal of gold and silver as alternative investments.
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Fannie warns investors on 2008 losses
Dec 5 2007 4:38PM (CT)
WASHINGTON (AP) - Fannie Mae warned investors Wednesday that its losses would mount next year from bad home loans, even as the mortgage finance company took steps to stabilize its finances.
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Oil futures fall on mixed inventories
Dec 5 2007 3:56PM (CT)
NEW YORK (AP) - Oil futures fell Wednesday to their lowest level in six weeks after a mixed government inventory report failed to offset a belief that supplies are growing faster than demand.
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Bill coming due on sinking home equity
Dec 5 2007 3:55PM (CT)
NEW YORK (AP) - Homeowners started losing hold of their homes years before spiking foreclosures and the housing slump slammed the economy.
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Bristol-Myers to trim jobs, factories
Dec 5 2007 12:38PM (CT)
NEW YORK (AP) - Pharmaceuticals maker Bristol-Myers Squibb Co. announced a major restructuring plan that includes a 10 percent work force reduction, the shuttering of more than half of its manufacturing plants and a significant cutback in its mature product offerings.
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Service sector expands further in Nov.
Dec 5 2007 11:00AM (CT)
NEW YORK (AP) - The nation's service sector showed further expansion in November, but at a pace slower than the month before and below analysts' expectations.
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GE recalls microwave for fire hazard
Dec 5 2007 10:32AM (CT)
WASHINGTON (AP) - General Electric recalled 92,000 combination wall and microwave ovens after at least 35 incidents of fire that damaged property, the company and the Consumer Product Safety Commission said Wednesday.
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GE recalls microwave for fire hazard
Dec 5 2007 10:32AM (CT)
WASHINGTON (AP) - General Electric recalled 92,000 combination wall and microwave ovens after at least 35 incidents of fire that damaged property, the company and the Consumer Product Safety Commission said Wednesday.
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Petition seeks curbs on plane emissions
Dec 5 2007 7:47AM (CT)
SAN FRANCISCO (AP) - A coalition of states and environmental groups is urging the federal government to curb global warming pollution from planes and other aircraft.
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5 chemical giants fine $358M by EU
Dec 5 2007 7:24AM (CT)
BRUSSELS, Belgium (AP) - European Union regulators slapped five companies _ including DuPont and Dow Chemical Co. _ with $358 million in fines Wednesday for fixing the price of a type of rubber used to make everything from shoe soles to condoms.
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5 chemical giants fine $358M by EU
Dec 5 2007 7:24AM (CT)
BRUSSELS, Belgium (AP) - European Union regulators slapped five companies _ including DuPont and Dow Chemical Co. _ with $358 million in fines Wednesday for fixing the price of a type of rubber used to make everything from shoe soles to condoms.
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Dollar gains in European trading
Dec 5 2007 7:08AM (CT)
FRANKFURT, Germany (AP) - The dollar gained on the euro and the pound Wednesday as markets awaited key interest rate decisions by the European Central Bank and Bank of England later this week.
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China to tighten monetary policy in 2008
Dec 5 2007 6:50AM (CT)
BEIJING (AP) - China will shift its monetary policy "from prudent to tight" in 2008, state media said Wednesday, to prevent its already hot economy from overheating and to try to contain accelerating inflation that threatens social stability.
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Lenovo to end Olympic sponsor role
Dec 5 2007 5:19AM (CT)
BEIJING (AP) - Computer maker Lenovo, China's only global Olympics sponsor, will end its top-level support after next year's Beijing Summer Games, the company said.
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Wal-Mart raises stake in Seiyu to 95 pct
Dec 5 2007 4:40AM (CT)
TOKYO (AP) - Wal-Mart Stores has raised its stake in money-losing Japanese retailer Seiyu to 95.1 percent, the retailers said Wednesday, giving it managerial control of the chain and solidifying its foothold in an intensely competitive market.
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Wal-Mart raises stake in Seiyu to 95 pct
Dec 5 2007 4:40AM (CT)
TOKYO (AP) - Wal-Mart Stores has raised its stake in money-losing Japanese retailer Seiyu to 95.1 percent, the retailers said Wednesday, giving it managerial control of the chain and solidifying its foothold in an intensely competitive market.
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Wal-Mart raises stake in Seiyu to 95 pct
Dec 5 2007 4:40AM (CT)
TOKYO (AP) - Wal-Mart Stores has raised its stake in money-losing Japanese retailer Seiyu to 95.1 percent, the retailers said Wednesday, giving it managerial control of the chain and solidifying its foothold in an intensely competitive market.
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Reports: China auto exports soar
Dec 5 2007 4:14AM (CT)
SHANGHAI, China (AP) - China's auto exports soared in the first 10 months of the year, according to Commerce Ministry figures, but revenues from passenger car sales overseas are lagging due to falling prices, reports said Wednesday.
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China opposes US subsidy investigations
Dec 5 2007 3:05AM (CT)
BEIJING (AP) - China strongly opposes U.S. charges it is unfairly subsidizing the manufacture of its steel pipes and woven sacks for export, the Commerce Ministry said Wednesday, in a further sign of trade friction between the countries.
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Hasbro: Safety key in China manufacturing
Dec 5 2007 2:35AM (CT)
SOUTH KINGSTOWN, R.I. (AP) - The chief executive of toy maker Hasbro Inc. says developing relationships with suppliers in China and taking the time to teach them how to meet stringent manufacturing and safety standards are among the keys for American companies operating there following a string of recalls.
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Groups release result of toxic toy tests
Dec 5 2007 1:02AM (CT)
DETROIT (AP) - Tests on more than 1,200 children's products, most of them still on store shelves, found that 35 percent contain lead _ many with levels far above the federal recall standard used for lead paint.
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Groups release guide to toxins in toys
Dec 5 2007 12:04AM (CT)
DETROIT (AP) - Tests on more than 1,200 children's products, most of them still on store shelves, found that 35 percent contain lead _ many with levels far above the federal recall standard used for lead paint.
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