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Qantas orders 65 new Boeing 787 planes
Dec 13 2005 11:23PM (CT)
SYDNEY, Australia (AP) - Australian flag carrier Qantas announced Wednesday it has placed firm orders for 65 new Boeing 787 passenger jets in a multibillion-dollar deal to renew its fleet.
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Fed boosts interest rate to 4.25 percent
Dec 13 2005 10:47PM (CT)
WASHINGTON (AP) - The Federal Reserve lifted interest rates to the highest level in 4 1/2 years Tuesday but also indicated its 18-month rate-raising campaign was winding down. At least one more increase in borrowing costs seemed in store to keep inflation under control.
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U.S., EU chiefs seek global trade deal
Dec 13 2005 10:37PM (CT)
HONG KONG (AP) - EU and U.S. trade chiefs on Wednesday urged fellow members of the World Trade Organization to push toward an ambitious conclusion of global trade talks that have been deadlocked over the contentious issue of farm trade.
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Mandelson seeks conclusion to Doha talks
Dec 13 2005 10:26PM (CT)
HONG KONG (AP) - EU trade chief Peter Mandelson on Wednesday called for an ambitious conclusion to the delayed Doha round of trade talks, saying WTO members "cannot afford to wait."
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U.S. trade chief urges WTO for trade deal
Dec 13 2005 10:22PM (CT)
HONG KONG (AP) - Aiming to kick-start deadlocked world trade talks, the U.S. trade chief on Wednesday urged fellow WTO members to push toward a new global free trade deal, and pledged $2.7 billion in aid to help poor nations to strengthen their trading capabilities.
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Hallmark unit agrees to deal to avoid suit
Dec 13 2005 9:59PM (CT)
KANSAS CITY, Mo. (AP) - Crown Media Holdings Inc., a subsidiary of Hallmark Cards Inc. and operator of the cable network Hallmark Channel, has agreed to produce a number of television shows, specials and movies to avoid a lawsuit from a religious coalition.
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Japanese stocks up on 'tankan' survey
Dec 13 2005 9:58PM (CT)
TOKYO (AP) - Japanese stocks fell moderately Wednesday morning on profit-taking, despite the upbeat results of the central bank's quarterly "tankan" survey. The dollar edged higher against the yen.
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Mark Shapiro named new CEO of Six Flags
Dec 13 2005 9:37PM (CT)
OKLAHOMA CITY (AP) - Former ESPN programming director Mark Shapiro is the new president and chief executive officer of Oklahoma City-based theme-park giant Six Flags Inc., the company announced on Tuesday.
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NAFTA panel rejects wheat tariff appeal
Dec 13 2005 8:06PM (CT)
BISMARCK, N.D. (AP) - A North American Free Trade Agreement panel has cleared the way for the U.S. government to lift tariffs on Canadian spring wheat flowing south across the border.
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Krispy Kreme to lower pretax income
Dec 13 2005 7:52PM (CT)
WINSTON-SALEM, N.C. (AP) - Krispy Kreme Doughnuts Inc. said Tuesday it will lower its pretax income for the past several years by about $10 million more than it previously announced.
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R.J. Reynolds urged to end 'Drinks on Us'
Dec 13 2005 7:48PM (CT)
RALEIGH, N.C. (AP) - The attorneys general of California, Maryland and New York are urging R.J. Reynolds Tobacco Co. to end its "Drinks on Us" birthday promotion, saying it reflects a "cavalier and dangerous attitude toward drinking."
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Taser shares up 15 pct. on SEC decision
Dec 13 2005 6:52PM (CT)
PHOENIX (AP) - The Securities and Exchange Commission has recommended no enforcement action be taken against stun gun maker Taser International Inc. for safety claims it made about its weapons and an accounting issue it was investigating, the company said Tuesday.
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DealerTrack rises in Nasdaq trading debut
Dec 13 2005 6:35PM (CT)
WASHINGTON (AP) - Stock of automotive-data company DealerTrack Holdings Inc. raced out of the lot with a sizable price gain Tuesday in its trading debut on the Nasdaq.
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Boeing shares hit all-time high
Dec 13 2005 6:34PM (CT)
CHICAGO (AP) - Boeing Co.'s stock hit an all-time high Tuesday, capping a nearly three-year ascent that reflects the aerospace firm's rebound in commercial airplane sales and continuing strength in defense contracting.
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GE reaffirms earnings forecast for 2006
Dec 13 2005 6:25PM (CT)
STAMFORD, Conn. (AP) - General Electric Co. reaffirmed its forecast for a double-digit profit increase next year, saying the company is leveraging size to bolster its growth around the world.
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Ex-BPI chief executive officer arrested
Dec 13 2005 6:24PM (CT)
ROME (AP) - The former chief executive of Banca Popolare Italiana Scarl was arrested Tuesday in connection with the Banca Antonveneta SpA takeover investigation _ a case that also has Italy's central bank governor being investigated for abuse of power, the Milan prosecutor's office said.
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Time fires several executives in shakeup
Dec 13 2005 5:53PM (CT)
NEW YORK (AP) - Magazine publisher Time Inc. fired several of its senior business executives Tuesday, including its former chief financial officer and the president of Time magazine, as part of a sweeping management shakeup.
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Tuesday's commodities roundup
Dec 13 2005 5:39PM (CT)
NEW YORK (AP) - Gold reversed course Tuesday, slipping from recent 25-year highs at the New York Mercantile Exchange amid profit-taking and trade selling.
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Lay seeks help from former Enron workers
Dec 13 2005 5:38PM (CT)
HOUSTON (AP) - Enron Corp. founder Kenneth Lay launched an impassioned plea Tuesday for former employees of the bankrupt energy company to defy a "wave of terror" by federal prosecutors and help him battle criminal charges.
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Voyager Pharmaceutical withdraws IPO
Dec 13 2005 5:36PM (CT)
WASHINGTON (AP) - Voyager Pharmaceutical Corp. on Tuesday withdrew its initial public offering "due to market conditions," according to a withdrawal request filed with the Securities and Exchange Commission.
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Bankruptcy courts have busy year
Dec 13 2005 5:31PM (CT)
NEW YORK (AP) - The dropoff in consumer bankruptcy petitions since the nation's bankruptcy law changed belies the fact that there are still many Americans in serious financial trouble.
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P&G lifts 2Q earnings, sales expectations
Dec 13 2005 5:25PM (CT)
CINCINNATI (AP) - Consumer products company Procter & Gamble Co. on Tuesday raised its profit expectations for its fiscal second quarter, saying it sees earnings coming in at the higher end of its previous outlook because of better sales and lower-than-anticipated costs for its acquisition of Gillette Co.
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Brazil to pay $15.5M debt to IMF early
Dec 13 2005 5:20PM (CT)
BRASILIA, Brazil (AP) - Brazil will pay back its $15.5 billion outstanding debt with the International Monetary Fund by the end of the month _ two years ahead of time _ saving the country some $900 million in interest payments, the Finance Ministry said Tuesday.
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UAW says it's talking to GM on Delphi
Dec 13 2005 5:20PM (CT)
DETROIT (AP) - The United Auto Workers union isn't negotiating with auto supplier Delphi Corp. but began talking with General Motors Corp. two weeks ago about a possible deal that could avert a strike at Delphi, the UAW's top GM negotiator said Tuesday.
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ConocoPhillips CEO defends Burlington deal
Dec 13 2005 5:18PM (CT)
DALLAS (AP) - The head of ConocoPhillips Co. on Tuesday said his company's proposed $35.6 billion acquisition of oil and natural gas producer Burlington Resources Inc. makes sense even if energy prices plunge.
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Binding arbitration risky for Delta, pilots
Dec 13 2005 5:14PM (CT)
ATLANTA (AP) - One is a California labor attorney. Another is a former law professor who has been a consultant for the government of Bermuda. The last sided with the Philadelphia Eagles as arbitrator of their decision to bench star receiver Terrell Owens.
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Cendant lowers earnings guidance
Dec 13 2005 5:13PM (CT)
NEW YORK (AP) - Cendant Corp., which owns Century 21 real estate, Ramada hotels, Avis rental cars and Orbitz online travel service, said Tuesday its fourth-quarter earnings will be at the lower end of its projected range due to weak results at its Travel Distribution Services division, primarily in its international online operations.
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Agence France-Presse picks Louette as CEO
Dec 13 2005 5:12PM (CT)
PARIS (AP) - Agence France-Presse on Tuesday chose a member of its senior management, Pierre Louette, to be the news agency's new chairman and chief executive.
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Best Buy 3Q profit declines on expenses
Dec 13 2005 4:56PM (CT)
MINNEAPOLIS (AP) - Best Buy Co. Inc. has been adding personal shoppers, business experts, and home theater installers so it could focus on its most profitable customers. But its hiring spree dragged third-quarter profits down by 7 percent, and on Tuesday Best Buy trimmed its full-year forecast.
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Southwest in new battle with American
Dec 13 2005 4:54PM (CT)
DALLAS (AP) - The first Southwest Airlines Co. flight from Dallas to Missouri left Love Field on Tuesday morning, opening a new front in the battle between the low-cost carrier and American Airlines.
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Housing costs lifting rentals out of reach
Dec 13 2005 4:17PM (CT)
WASHINGTON (AP) - The cost of rental housing has increased faster than wages, making it increasingly difficult for low-income families to afford even modest apartments, an advocacy group said Tuesday.
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Central American refinery plan approved
Dec 13 2005 4:07PM (CT)
CANCUN, Mexico (AP) - Mexico agreed to supply crude oil for a $4 billion refinery that will be built in Central America as part of a sweeping energy plan approved Tuesday by regional leaders.
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Former insurance mogul's firm fined $1.4M
Dec 13 2005 4:05PM (CT)
CHICAGO (AP) - The brokerage firm from which a former insurance mogul siphoned millions of dollars was ordered Tuesday by a federal judge to pay a fine of $1.4 million.
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Gold prices slip from recent 25-yr. highs
Dec 13 2005 3:58PM (CT)
NEW YORK (AP) - Gold reversed course Tuesday, slipping from recent 25-year highs at the New York Mercantile Exchange amid profit-taking and trade selling.
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Natural gas prices reach all-time high
Dec 13 2005 3:53PM (CT)
NEW YORK (AP) - Natural-gas prices surged to an all-time high Tuesday, as cold weather in the United States and ongoing disrupted production in the Gulf of Mexico caused traders to worry that supplies of home-heating fuels will be tight this winter.
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Russia to cut off gas supplies to Ukraine
Dec 13 2005 3:44PM (CT)
MOSCOW (AP) - Russia will cut off natural-gas supplies to Ukraine if no compromise is reached by Jan. 1 in a dispute over prices, officials with Russia's state-run gas monopoly said Tuesday, markedly raising the stakes in the increasingly acrimonious dispute.
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Fear is good? Worriers ruling Wall Street
Dec 13 2005 3:39PM (CT)
NEW YORK (AP) - Stocks should be doing better. After all, 2005 corporate earnings have been great. The war in Iraq and Gulf Coast hurricanes seem to have barely scratched the economy.
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Judge dismisses NYSE as defendant in suit
Dec 13 2005 3:36PM (CT)
NEW YORK (AP) - The New York Stock Exchange was dismissed as a defendant Tuesday in three lawsuits accusing seven trading firms and the NYSE of fraudulently costing the nation's largest public pension funds millions of dollars a year.
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OraSure stock down on false tests reports
Dec 13 2005 3:28PM (CT)
NEW YORK (AP) - OraSure Technologies Inc. stock extended its fall Tuesday after reports surfaced late last week about a spike in false positive results in San Francisco and New York from its rapid, oral HIV tests.
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Media companies slim down in 2005
Dec 13 2005 3:25PM (CT)
NEW YORK (AP) - Under other circumstances, 2006 might look like a pretty good year for the media industry. The Winter Olympics and a midterm election are sure to boost advertising spending, the economy is humming along and consumers seem to be spending.
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Worst may be over for battered airlines
Dec 13 2005 3:02PM (CT)
CHICAGO (AP) - Eight airlines are flying in bankruptcy and jet fuel prices are still wrecking budgets after spiking to all-time highs this fall. 2005 marks a fifth straight year of multibillion-dollar losses.
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That '70s year: 2005's winners and losers
Dec 13 2005 2:43PM (CT)
NEW YORK (AP) - Boy, for a while there the business headlines of 2005 started sounding uncomfortably like those of the 1970s. Oilmen hadn't been looked upon with such scorn since the days of J.R. Ewing, as the outrageous price of gas was overshadowed only by the outrageous price of designer jeans.
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Lehman annual profit up on banking, fees
Dec 13 2005 2:22PM (CT)
NEW YORK (AP) - Lehman Brothers Holdings Inc. reported a second straight year of record income and revenues Tuesday, with earnings up 38 percent from a year ago on strong investment banking and transaction fees.
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DirecTV to pay for do-not-call violations
Dec 13 2005 1:52PM (CT)
WASHINGTON (AP) - DirecTV Inc. will pay $5.34 million to settle charges that its telemarketers called households listed on the national do-not-call registry to pitch satellite TV programming, Federal Trade Commission officials said Tuesday.
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Fired exec sues for wrongful dismissal
Dec 13 2005 1:36PM (CT)
NEW YORK (AP) - The outspoken executive that drugmaker Pfizer Inc. fired this month because the government didn't pursue his whistleblower suit filed a wrongful dismissal suit against his former employer.
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Evans reportedly offered oil co. post
Dec 13 2005 1:26PM (CT)
MOSCOW (AP) - Former U.S. Commerce Secretary Donald Evans has been offered the post of board chairman at a state-run oil company by Russian President Vladimir Putin, a Russian newspaper reported Tuesday.
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UPS signs firm order for 10 Airbus A380s
Dec 13 2005 1:22PM (CT)
PARIS (AP) - United Parcel Service Inc. signed a binding order for 10 Airbus A380 superjumbos, the European aircraft maker said Tuesday.
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Harrah's studying ways to rebuild casinos
Dec 13 2005 1:04PM (CT)
BATON ROUGE, La. (AP) - Harrah's Entertainment Inc. is considering several ways to rebuild its two hurricane-damaged casino boats in Lake Charles, La., including possibly building a larger, single casino using both gambling licenses on one site, officials told Louisiana gambling regulators Tuesday.
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Exxon Mobil: Energy consumption to soar
Dec 13 2005 12:49PM (CT)
HOUSTON (AP) - Global energy consumption will soar 60 percent over the next 25 years, Exxon Mobil Corp. forecast Tuesday in its annual energy outlook.
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Chase Investment Services paying settlement
Dec 13 2005 12:47PM (CT)
WASHINGTON (AP) - Brokerage firm Chase Investment Services Corp. has agreed to pay $290,262 to resolve regulators' allegations that it failed to prevent improper trading in mutual funds by a favored client that used ruses to circumvent funds' restrictions.
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Supermarket chain Asda plans new products
Dec 13 2005 12:32PM (CT)
LONDON (AP) - Asda Group Ltd., the British supermarket chain owned by Wal-Mart Stores Inc., announced plans to roll out new products and services Tuesday as Chief Executive Andy Bond warned the company had grown complacent.
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El Al Airlines orders two 777s
Dec 13 2005 12:12PM (CT)
SEATTLE (AP) - Israel's El Al Airlines has finalized a purchase agreement with The Boeing Co. for two extended-range 777 jetliners, the companies said Tuesday.
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Japanese exec to take Mitsubishi posts
Dec 13 2005 12:09PM (CT)
NORMAL, Ill. (AP) - A Japanese executive has been named to help lead financially troubled Mitsubishi Motors' operations in North America, company officials said.
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HP says revenue will grow in fiscal 2007
Dec 13 2005 11:54AM (CT)
SAN JOSE, Calif. (AP) - Hewlett-Packard Co. said Tuesday it expects growth to improve slightly in 2007 on anticipated strength in the server and printing markets. The company also said it was buying a European online photo service.
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PepsiCo takes Coca-Cola's market cap crown
Dec 13 2005 11:43AM (CT)
LONGVIEW, Wash. (AP) - For the first time since shares in Coca-Cola Co. started trading in 1919, rival PepsiCo Inc. has stolen the southern soft-drink giant's market cap crown.
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Icahn wants Time Warner's board minutes
Dec 13 2005 11:42AM (CT)
NEW YORK (AP) - Carl Icahn, the billionaire financier who is agitating for change at Time Warner Inc., on Tuesday demanded that the media conglomerate disclose the minutes of board meetings where former director and AOL co-founder Steve Case advocated breaking up the company.
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American Railcar plans its IPO
Dec 13 2005 11:13AM (CT)
WASHINGTON (AP) - American Railcar Industries Inc., a company controlled by billionaire investor Carl Icahn, Tuesday said it plans to go public in an initial stock offering worth up to $150 million.
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EU governments agree on chemical rules
Dec 13 2005 11:04AM (CT)
BRUSSELS, Belgium (AP) - EU governments agreed Tuesday on sweeping new rules to control the use of chemicals in industry, saying the rules balanced health and environmental concerns with fears that excessive red tape would stifle business.
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Harrah's, Suntec team up for casino bid
Dec 13 2005 10:08AM (CT)
SINGAPORE (AP) - Las Vegas gaming company Harrah's Entertainment Inc. said Tuesday it has teamed up with local convention operator Suntec Singapore in its bid to build one of the city-state's two proposed casinos, just days after rival Wynn Resorts dropped out of the race.
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Shell to boost capital investment in 2006
Dec 13 2005 9:46AM (CT)
AMSTERDAM, Netherlands (AP) - Royal Dutch Shell said Tuesday its capital spending would rise almost 27 percent in 2006 to around $19 billion (euro15.9 billion), spending most of it on exploration and production of oil and natural gas.
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GM to nearly triple India production
Dec 13 2005 9:31AM (CT)
BANGALORE, India (AP) - General Motors Corp. said Tuesday it plans to nearly triple the number of cars it produces in India to meet growing demand in the South Asian country.
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Club Med returns to black after 4 years
Dec 13 2005 9:23AM (CT)
PARIS (AP) - Club Mediterranee SA swung back into the black after four years of losses, with help from the sale of four luxury resorts to Spanish real-estate company Gecina, the French resort operator said Tuesday.
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Vodafone wins bidding for Turkey's Telsim
Dec 13 2005 8:26AM (CT)
ISTANBUL, Turkey (AP) - Britain's Vodafone Group PLC offered the highest bid _ $4.55 billion _ in an auction Tuesday to buy Telsim, Turkey's second-largest cell-phone company, from the Turkish government.
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Report: German economic outlook improving
Dec 13 2005 8:14AM (CT)
FRANKFURT, Germany (AP) - A survey of German finance professionals showed an improved outlook for Europe's largest economy in December, buoyed by increased domestic orders, a report released Tuesday showed.
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40 ex-Enron traders must return bonuses
Dec 13 2005 7:58AM (CT)
HOUSTON (AP) - About 40 former Enron traders have been ordered by a Texas bankruptcy judge to return $20 million of bonuses they received just before the company went bankrupt.
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Court grants Marks & Spencer tax rebate
Dec 13 2005 6:45AM (CT)
LUXEMBOURG (AP) - An EU court ruled Tuesday that Britain was wrong to forbid British retailer Marks & Spencer PLC from deducting losses in France, Belgium and Germany from its tax bill if the company could not claim the losses in those countries.
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Equity firms pay $2.43B for Dunkin' Brands
Dec 13 2005 6:19AM (CT)
BOSTON (AP) - Dunkin' Donuts is hoping its sale to three private equity firms could rev up plans to take on giant Starbucks in the battle of the coffee cup.
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Judge: Federal Vioxx case to be retried
Dec 13 2005 6:12AM (CT)
HOUSTON (AP) - A jury's inability to reach a unanimous verdict in the nation's first federal Vioxx trial after more than 18 hours of deliberations prompted a judge to declare a mistrial and aim for a second try.
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Katrina strangles La. citrus industry
Dec 13 2005 5:02AM (CT)
HOMEPLACE, La. (AP) - Salt left over from Hurricane Katrina's flood waters has turned the citrus country south of New Orleans into a wasteland where orange trees, cow pastures and gardens are dead.
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Survey: Some U.S. firms to raise staffing
Dec 13 2005 12:16AM (CT)
MILWAUKEE (AP) - Nearly a quarter of U.S. firms plan to increase staffing levels in the first quarter of 2006, a strong reading but lower than earlier this year, according to a survey of 16,000 employers prepared for release Tuesday.
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'Secret Santa' exchanges made easier online
Dec 13 2005 12:09AM (CT)
MIAMI (AP) - For years, Caroline Lamarre dreaded the annual "Secret Santa" tradition of picking a name out of a hat and giving her secret match a gift.
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Report: San Jose, Calif., has best savers
Dec 13 2005 12:08AM (CT)
ST. LOUIS (AP) - When it comes to personal savings and investment, people in San Jose, Calif. top all other Americans for putting money away for safekeeping, according to a ranking released Monday by the investment firm A.G. Edwards.
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