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Striking Korean Air pilots seek compromise
Dec 9 2005 11:50PM (CT)
SEOUL, South Korea (AP) - Striking pilots at Korean Air said Saturday they're willing to moderate their demands for a wage increase if management also offers a compromise.
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Ex-HealthSouth CFO sentenced to prison
Dec 9 2005 11:05PM (CT)
BIRMINGHAM, Ala. (AP) - A main government witness in the failed prosecution of fired HealthSouth Corp. CEO Richard Scrushy was sentenced to five years in prison Friday by a judge who sharply criticized Scrushy's acquittal earlier this year.
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Alltel to expand core business with deal
Dec 9 2005 11:04PM (CT)
LITTLE ROCK, Ark. (AP) - Alltel Corp. said Friday a $4.9 billion deal to spin off its telephone division to shareholders will enable it to expand its core wireless business.
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BlackBerry settlement talks continue
Dec 9 2005 8:39PM (CT)
NEW YORK (AP) - BlackBerry maker Research in Motion Ltd. has resumed settlement talks with NTP Inc. through a mediator, bolstering hopes for a truce in a patent battle that has threatened the popular BlackBerry e-mail service.
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GM, Kerkorian fail to reach deal on seat
Dec 9 2005 8:12PM (CT)
DETROIT (AP) - General Motors Corp. and billionaire investor Kirk Kerkorian said in a joint statement Friday that they have failed to reach an agreement on Kerkorian's request to gain a seat on the automaker's board for his aide Jerome York.
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Kellogg to reduce trans fat in products
Dec 9 2005 7:53PM (CT)
GRAND RAPIDS, Mich. (AP) - Starting early next year, some products made by Kellogg Co. will contain oils derived from genetically modified soybeans to reduce or eliminate trans fatty acids and minimize saturated fats, the cereal maker said Friday.
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Botched stock trade rattles Japan market
Dec 9 2005 7:23PM (CT)
TOKYO (AP) - Japan's government rebuked the Tokyo Stock Exchange and one of the country's biggest brokerage firms Friday after a typing error caused Mizuho Securities Co. to lose at least 27 billion yen ($225 million) on a stock trade.
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United: Feud costs us $200,000 per month
Dec 9 2005 7:16PM (CT)
WASHINGTON (AP) - United Airlines Inc. complained to a bankruptcy judge that it is racking up financing charges of $200,000 a month because an investor group is blocking the airline's bid to consolidate its control over 14 aircraft.
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U.S. Treasury prices end broadly lower
Dec 9 2005 6:35PM (CT)
NEW YORK (AP) - Treasury prices ended broadly lower Friday, capping off a week of choppy trade and clearing the decks for a highly anticipated meeting of the Federal Open Market Committee.
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Vioxx jurors end deliberations for day
Dec 9 2005 6:10PM (CT)
HOUSTON (AP) - Jurors deliberated about eight hours Friday without reaching a verdict on whether Merck & Co.'s Vioxx contributed to the 2001 death of a Florida man who had been taking the once-popular painkiller for about a month.
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Friday's commodities roundup
Dec 9 2005 6:00PM (CT)
NEW YORK (AP) - Gold and silver futures continued their sharp runup in New York Friday on more momentum-based speculative and fund buying, traders and analysts said.
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TheStreet.com shares up amid speculation
Dec 9 2005 5:49PM (CT)
NEW YORK (AP) - TheStreet.com Inc.'s shares rose Friday amid speculation that the online financial-news company may be the target of a takeover.
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QuickLogic shares climb on upbeat rating
Dec 9 2005 5:48PM (CT)
NEW YORK (AP) - QuickLogic Corp. shares rose sharply Friday after a Wall Street firm highlighted the prospect that the company's logic chips could be used with low-power software in consumer goods.
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Intel narrows 4th-quarter sales forecast
Dec 9 2005 5:37PM (CT)
SAN JOSE, Calif. (AP) - Intel Corp. narrowed its fourth-quarter sales forecast but left the midpoint unchanged as it works through meeting demand for some chips and the lingering effects of an inventory buildup.
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Merck shares drop on Vioxx study report
Dec 9 2005 5:30PM (CT)
TRENTON, N.J. (AP) - Shares of Vioxx maker Merck & Co. fell for a second day Friday after the New England Journal of Medicine said authors of a study funded by Merck failed to disclose that three additional patients in a 2000 clinical study suffered heart attacks while using the now-withdrawn painkiller.
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Eli Lilly sees profit at high end of views
Dec 9 2005 5:12PM (CT)
NEW YORK (AP) - Drug maker Eli Lilly and Co. on Friday said it will post earnings per share at the high end of its forecast for this year, and its estimates for next year topped analysts projections.
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Ameritrade lowers 2006 earnings outlook
Dec 9 2005 5:02PM (CT)
OMAHA, Neb. (AP) - Online brokerage Ameritrade Holding Corp. on Friday lowered its predictions for earnings in the current quarter and all of 2006 to account for a change in the value of one of its investments.
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Bids due in possible sale of Knight Ridder
Dec 9 2005 4:22PM (CT)
NEW YORK (AP) - Newspaper publisher Knight Ridder Inc. didn't make a presentation at two widely attended conferences for media investors this week, but there was no shortage of talk and speculation there about the company's future.
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Wilma, disease spike orange juice prices
Dec 9 2005 4:10PM (CT)
WASHINGTON (AP) - Damage from Hurricane Wilma and disease in Florida citrus groves will drive orange juice prices higher, the industry and analysts said Friday.
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Gold extends sharp runup on more buying
Dec 9 2005 3:36PM (CT)
NEW YORK (AP) - Gold extended its sharp runup Friday on more momentum-based speculative and fund buying, as well as concerns about inflation.
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Groups ask court to toss auto recall rule
Dec 9 2005 3:17PM (CT)
WASHINGTON (AP) - A federal appeals court was asked Friday to throw out a rule that allows the government's highway safety agency to limit some vehicle recalls by region.
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Perdue: Delta, pilots will reach deal
Dec 9 2005 2:46PM (CT)
ATLANTA (AP) - Georgia Gov. Sonny Perdue said Friday he is confident Delta Air Lines Inc. and its pilots will reach a deal on pay and benefit cuts in time to avert a strike, adding that he believes there is no need at this time to call in the Bush administration for help.
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Gartner: 2005 chip sales to reach $235B
Dec 9 2005 2:23PM (CT)
SAN JOSE, Calif. (AP) - Worldwide semiconductor sales will rise 6.9 percent to a record $235 billion in 2005, surpassing the previous high mark set at the tail end of the high-tech boom five years ago, the research firm Gartner Inc. said Friday.
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Burger King set to unveil $1 'value menu'
Dec 9 2005 2:21PM (CT)
DES MOINES, Iowa (AP) - Burger King Corp. plans to introduce a limited "value menu" featuring items costing $1, to stimulate traffic and better compete with its fast-food rivals.
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Refco vows not to dispose customer assets
Dec 9 2005 2:19PM (CT)
WASHINGTON (AP) - Refco Inc. promised its unsecured creditors it won't use, liquidate or otherwise dispose of customer assets held in its unregulated offshore unit, Refco Capital Markets Ltd.
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Venezuela on track to join Mercosur
Dec 9 2005 2:14PM (CT)
MONTEVIDEO, Uruguay (AP) - South America's Mercosur nations formally put Venezuela on track Friday to full membership in the trade bloc, a once sleepy customs union that has emerged as a key critic of the U.S.-backed Free Trade Area of the Americas.
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Christian stores capitalize on 'Narnia'
Dec 9 2005 2:02PM (CT)
GRAND RAPIDS, Mich. (AP) - With Friday's release of the film version of "The Chronicles of Narnia: The Lion, the Witch and the Wardrobe," the marketing push to promote the sale of Narnia books and other related merchandise is reaching a crescendo _ and nowhere more so than in Christian retail stores.
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Heart device market draws firms' attention
Dec 9 2005 1:58PM (CT)
BOSTON (AP) - Johnson & Johnson and Boston Scientific Corp. are dueling to pay more than $20 billion to buy Guidant Corp., a medical device maker struggling to repair its reputation amid product recalls and liability lawsuits.
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PPR finance chief McInnes leaves company
Dec 9 2005 1:57PM (CT)
PARIS (AP) - French luxury and retail group PPR SA, which includes Gucci Group, said Friday that Chief Financial Officer Ross McInnes is leaving the company, effective immediately.
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Cynosure IPO leads pack of 3 new issues
Dec 9 2005 1:41PM (CT)
WASHINGTON (AP) - A company that makes lasers for hair removal and skin treatments was the focus of the initial public offering market on Friday, as three new stocks began trading.
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Russia OKs amendments on Gazprom shares
Dec 9 2005 1:16PM (CT)
MOSCOW (AP) - Foreign investors came a step closer to owning coveted shares in the world's largest natural gas producer Friday, as Russia's lower house of parliament gave final backing to the necessary legal amendments.
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Judge calls mistrial in ex-Duke exec trial
Dec 9 2005 12:51PM (CT)
HOUSTON (AP) - A judge has declared a mistrial after jurors deadlocked on the remaining charges against a former Duke Energy Corp. trading executive accused of recording false trading data to boost bonuses for himself and others at the power and natural-gas producer.
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Verizon returns to historic HQ in NYC
Dec 9 2005 12:36PM (CT)
NEW YORK (AP) - Verizon, New York City's leading telephone company, returned to its historic lower Manhattan headquarters near ground zero on Thursday _ four years after being forced out by the terrorist attack on the World Trade Center.
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Former exec admits stealing trade secrets
Dec 9 2005 11:56AM (CT)
SAN FRANCISCO (AP) - The former chief executive of a software company has pleaded guilty to federal charges of stealing a rival's trade secrets.
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Jury rules in favor of American Standard
Dec 9 2005 11:54AM (CT)
WASHINGTON (AP) - American Standard Cos. on Friday said a district-court jury Wednesday returned a "favorable" verdict for the company in its lawsuit alleging fraud by Haynes Trane Service Agency Inc., a former distributor of the company's air conditioning business.
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Russian bank accused of money laundering
Dec 9 2005 11:50AM (CT)
MOSCOW (AP) - Prosecutors said Friday they have found evidence of money laundering at a Russian bank directed by a former deputy prime minister who is active in an opposition political party.
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Stocks up despite Intel's weak forecast
Dec 9 2005 11:37AM (CT)
NEW YORK (AP) - Stocks edged higher Friday as investors battled worries about a weak forecast from Intel Corp. and concerns that interest rates will continue their climb. Friday's lethargic trading followed two days of moderate losses as investors scoured for news that might revive a year-end rally after a two-week break.
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Japanese economy up 0.2 percent in quarter
Dec 9 2005 11:30AM (CT)
TOKYO (AP) - Japan's economy grew 0.2 percent in the July-September quarter, down from the preliminary estimate of 0.4 percent, the government said in revised figures released Friday.
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Delta unfazed by pilots' call for strike
Dec 9 2005 11:27AM (CT)
ATLANTA (AP) - Delta Air Lines Inc. says the decision by its pilots' union to ask rank-and-file members to authorize a strike doesn't change the company's position on its need for $325 million in concessions, nor its willingness to negotiate a consensual deal.
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Winemaker Constellation ends Vincor bid
Dec 9 2005 11:10AM (CT)
ROCHESTER, N.Y. (AP) - Constellation Brands Inc., the world's biggest winemaker, is ending its hostile pursuit of Vincor International Inc. after failing to entice shareholders of the Canadian wine producer with a $1 billion cash bid.
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Irish workers protest immigrant hires
Dec 9 2005 10:59AM (CT)
DUBLIN, Ireland (AP) - More than 10,000 labor union members protested Friday in Ireland's capital and other cities over shipping company Irish Ferries' plan to replace its workers with low-paid Eastern European immigrants in the country's most bitter industrial showdown in decades.
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Poll shows new optimism about the economy
Dec 9 2005 10:35AM (CT)
WASHINGTON (AP) - People are feeling better about the economy and their own financial situations, a hopeful sign they'll act more like Santas than Grinches while holiday shopping. The RBC CASH Index, based on polling by Ipsos, showed that consumer confidence clocked in at 85.5 in December, the second-highest reading of this year.
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Goldman Sachs buying stake in Sanyo unit
Dec 9 2005 9:40AM (CT)
TOKYO (AP) - Goldman Sachs Group Inc. is buying a 42 percent stake in the financial unit of Sanyo Electric Co. as the Japanese consumer electronics maker continues a restructuring effort.
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Mining-claims dealer warns of scams
Dec 9 2005 9:38AM (CT)
WASHINGTON (AP) - Kent Taylor makes a living using Internet auctioneer eBay Inc. to ask tens of thousands of dollars for Western lands the government sold to miners a century ago for less than $10 an acre.
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London Stock Exchange rejects takeover bid
Dec 9 2005 8:48AM (CT)
LONDON (AP) - The London Stock Exchange PLC on Friday rejected as "derisory" a potential 1.48 billion pound ($2.6 billion) takeover offer from Australia's Macquarie Bank Ltd.
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JPMorgan sells 525M Mitsubishi shares
Dec 9 2005 8:09AM (CT)
TOKYO (AP) - Wall Street investment bank JPMorgan Chase and Co. has sold about 525 million shares it held in struggling Japanese automaker Mitsubishi Motors Corp., cutting its stake in the company to 0.66 percent from 11.35 percent, a Mitsubishi official said Friday.
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Chinese yuan hits new high vs. dollar
Dec 9 2005 7:55AM (CT)
SHANGHAI, China (AP) - China's currency closed at a new high against the dollar on Friday, despite the dollar's strength against other currencies.
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Germany's trade surplus falls in October
Dec 9 2005 7:49AM (CT)
BERLIN (AP) - Germany's trade surplus fell to 12.2 billion euros ($14.43 billion) in October from 15 billion euros ($17.6 billion) the month before as imports picked up, the Federal Statistics Office reported Friday.
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Creditors file $4.6B suit against Samsung
Dec 9 2005 7:34AM (CT)
SEOUL, South Korea (AP) - Samsung Motor Inc. creditors on Friday sued the chairman of the Samsung Group and its affiliates to force them to pay back the defunct automaker's debt and interest.
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France now supports EU trade proposal
Dec 9 2005 7:20AM (CT)
PARIS (AP) - France now supports an EU offer to cut farm tariffs and subsidies in negotiations on a new global trade deal, the country's trade minister said Friday.
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Tobacco auction season opens in Kentucky
Dec 9 2005 5:31AM (CT)
DANVILLE, Ky. (AP) - Don Williams didn't know what would happen when tobacco buyers approached his leaf for the first time without the security of a price-support system that was scrapped a year ago.
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Tokyo stocks rebound after botched trade
Dec 9 2005 5:13AM (CT)
TOKYO (AP) - Japanese stocks rebounded Friday, overcoming losses the previous day triggered by a botched stock trade that roiled the market. Banks and electronics firms were among the gainers.
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Verizon Wireless wins 2 legal skirmishes
Dec 9 2005 12:25AM (CT)
TRENTON, N.J. (AP) - Verizon Wireless has won two legal skirmishes against telemarketers who made unwanted sales calls to its customers, and said it has launched a new offensive against unsolicited text messages.
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2 groups expected to bid for Dunkin' Donuts
Dec 9 2005 12:10AM (CT)
BOSTON (AP) - Two groups of private-equity firms plan to submit bids Thursday to buy Dunkin' Donuts, the nation's biggest coffee-and-doughnut chain, from the French company that acquired it as part of a bigger deal last summer, two people familiar with the groups' plans said.
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