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ATA closer to emerging from bankruptcy
Dec 14 2005 11:58PM (CT)
INDIANAPOLIS (AP) - A federal judge on Wednesday cleared the way for ATA Airlines to begin the process of emerging from bankruptcy, the company said in a news release.
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Global trade talks in Hong Kong deadlocked
Dec 14 2005 11:53PM (CT)
HONG KONG (AP) - Global trade talks remained deadlocked after leading delegates meeting late into the night and again Thursday morning failed to reach agreement on setting a date for ending export subsidies on farm goods, again blaming European countries for blocking progress.
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Anti-WTO protesters march against WTO
Dec 14 2005 11:48PM (CT)
HONG KONG (AP) - Anti-WTO protesters launched a consulate-hopping street march Thursday in Hong Kong, stopping at several foreign offices to tell officials that free trade is hurting workers in developing countries.
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S&P: Recovery from Katrina has been slow
Dec 14 2005 11:41PM (CT)
NEW ORLEANS (AP) - Recovery in New Orleans and the Mississippi Gulf Coast has been agonizingly slow, and the situation remains tenuous, Standard & Poor's said in reports issued Wednesday.
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Spitzer: Insurance exec. shorted foundation
Dec 14 2005 11:40PM (CT)
ALBANY, N.Y. (AP) - New York Attorney General Eliot Spitzer on Wednesday accused embattled insurance executive Maurice R. "Hank" Greenberg of participating in a series of financial transactions 35 years ago that cost the charitable foundation of his mentor $6 billion.
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Japanese stocks down; Dollar down vs. yen
Dec 14 2005 11:38PM (CT)
TOKYO (AP) - Japanese stocks declined Thursday, as export-oriented issues such as electronics makers and autos fell following the dollar's retreat against the yen in New York.
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UAW: Health care to cost Ford workers more
Dec 14 2005 11:10PM (CT)
DETROIT (AP) - Ford Motor Co.'s active and retired autoworkers, who have long enjoyed some of the most generous benefits in the country, will have to pay more for their health care under a tentative agreement between the automaker and the United Auto Workers, the union said Wednesday.
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Oil prices slide on jump in crude stocks
Dec 14 2005 11:08PM (CT)
NEW YORK (AP) - Crude-oil prices fell below $61 a barrel Wednesday after a U.S. petroleum inventory report showed an increase in crude stocks, and after natural gas prices dropped as traders took profits from recent record highs.
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Greenspan: World living standards rising
Dec 14 2005 10:49PM (CT)
WASHINGTON (AP) - The spread of free markets is driving the world's living standards higher, Federal Reserve Chairman Alan Greenspan said Wednesday.
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Wal-Mart buys Brazil stores for expansion
Dec 14 2005 10:49PM (CT)
SAO PAULO, Brazil (AP) - Wal-Mart Stores Inc. boosted its presence in Latin America on Wednesday, buying 140 Brazilian hypermarkets, supermarkets and wholesale outlets from a Portuguese conglomerate.
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Amgen agrees to acquire Abgenix for $2.2B
Dec 14 2005 10:46PM (CT)
SAN FRANCISCO (AP) - Biotechnology titan Amgen Inc. said Wednesday it has agreed to acquire Abgenix Inc. for $2.2 billion in cash and the assumption of debt.
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Bosch to cut 200 jobs at Ohio plant
Dec 14 2005 9:51PM (CT)
WOOSTER, Ohio (AP) - Bosch Corp. plans to eliminate about 200 manufacturing jobs at a northeast Ohio gear pump plant by the end of next year.
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Journal Nature: Wikipedia is accurate
Dec 14 2005 9:49PM (CT)
SAN FRANCISCO (AP) - Wikipedia, the encyclopedia that relies on volunteers to pen nearly 4 million articles, is about as accurate in covering scientific topics as Encyclopedia Britannica, the journal Nature wrote in an online article published Wednesday.
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Donald Trump sued by real estate brokers
Dec 14 2005 9:26PM (CT)
NEW YORK (AP) - Donald Trump is being sued for $1.3 million by three real estate brokers who say he has failed to pay them in full after the profitable sale of land and apartments he owned on the former West Side Manhattan rail yards.
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Maker of synthetic DNA acquires rival
Dec 14 2005 9:16PM (CT)
CORALVILLE, Iowa (AP) - Integrated DNA Technologies Inc., the nation's largest manufacturer of synthetic DNA, has acquired smaller rival GenBase Inc. in an effort to tap California's vast biotech market.
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R.J. Reynolds to discontinue promotion
Dec 14 2005 9:03PM (CT)
ANNAPOLIS, Md. (AP) - A cigarette promotion that used coasters encouraging heavy drinking has been discontinued after three states appealed to the tobacco company to stop it.
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House Democrat calls on SBA head to quit
Dec 14 2005 8:52PM (CT)
WASHINGTON (AP) - Citing enormous backlogs and high rates of declined loans for hurricane victims, a House Democrat on Wednesday called on the head of the Small Business Administration to quit immediately.
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Qantas orders Boeing 787 passenger jets
Dec 14 2005 8:07PM (CT)
SYDNEY, Australia (AP) - Australia's flagship carrier Qantas said Wednesday it was ordering up to 115 new Boeing Co. 787 passenger jets in a deal that may net Boeing almost $15 billion, landing a heavy blow in its battle with rival Airbus.
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Panel: Coke makes progress on diversity
Dec 14 2005 7:53PM (CT)
ATLANTA (AP) - The Coca-Cola Co., the world's largest beverage maker, has made "notable" progress toward diversifying its employees and managers but concerns remain that the beverage giant lacks a consistent diversity strategy, an independent task force said Wednesday.
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Qantas orders Boeing 787 passenger jets
Dec 14 2005 7:52PM (CT)
SYDNEY, Australia (AP) - Australia's flagship carrier Qantas said Wednesday it was ordering up to 115 new Boeing Co. 787 passenger jets in a deal that may net Boeing almost $15 billion, landing a heavy blow in its battle with rival Airbus.
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Exec: E-Trade to pursue deal in 2006
Dec 14 2005 6:50PM (CT)
NEW YORK (AP) - E-Trade Financial Corp. expects to "aggressively" pursue a major deal with a large financial firm or online brokerage starting in next year's second quarter, a top executive said Wednesday.
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Ford to run ads in gay publications
Dec 14 2005 6:48PM (CT)
WASHINGTON (AP) - Advertisements featuring Ford Motor Co.'s eight vehicle brands will run in gay publications, the automaker said Wednesday, acting after gay rights groups complained when Jaguar and Land Rover pulled their spots.
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Jury expands charges in fake drugs case
Dec 14 2005 6:38PM (CT)
KANSAS CITY, Mo. (AP) - A federal grand jury on Wednesday expanded the charges against two businessmen and a company accused of conspiring to sell $42 million worth of counterfeit, stolen and illegally imported prescription drugs.
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DaimlerChrysler, Lear to address dispute
Dec 14 2005 6:23PM (CT)
DETROIT (AP) - DaimlerChrysler AG and auto-parts maker Lear Corp. have agreed to try to settle a pricing dispute in which Lear had threatened to stop shipping parts unless the automaker agreed to pay more.
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Court suspends sale of Brazilian airline
Dec 14 2005 6:23PM (CT)
SAO PAULO, Brazil (AP) - A Brazilian court on Wednesday suspended the sale of the country's troubled Varig airline pending approval of creditors.
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Miller: Delphi deal may come in 1Q of 2006
Dec 14 2005 6:10PM (CT)
DETROIT (AP) - Delphi Corp. Chairman and Chief Executive Robert S. "Steve" Miller said Wednesday the auto supplier hopes to reach a restructuring agreement with its unions by the first quarter of 2006, but the United Auto Workers expressed doubt that will happen.
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NYSE to begin videotaping traders in 2006
Dec 14 2005 6:02PM (CT)
NEW YORK (AP) - The New York Stock Exchange will soon launch a trading-surveillance program in which the activities of some of the traders and brokers on the NYSE will be videotaped, Big Board officials said Wednesday.
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Constellation Energy shares up on report
Dec 14 2005 5:53PM (CT)
BALTIMORE (AP) - Shares of power-plant operator Constellation Energy Group Inc. surged Wednesday on news that Florida power company FPL Group Inc. is in talks to buy Constellation for more than $11 billion in a deal that would create a huge electricity conglomerate stretching from Maine to Florida.
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Winnebago 1Q profit off nearly 26 percent
Dec 14 2005 5:50PM (CT)
DES MOINES, Iowa (AP) - Winnebago Industries Inc., one of the nation's largest motor-home makers, on Wednesday reported its fiscal first-quarter profit fell almost 26 percent amid higher interest rates and fuel prices.
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Philips sells 18M LG.Philips LCD shares
Dec 14 2005 5:44PM (CT)
AMSTERDAM, Netherlands (AP) - Philips Electronics NV, Europe's leading consumer electronics manufacturer, on Wednesday sold 18 million shares in its liquid crystal display joint venture LG.Philips LCD Co. for roughly 615 million euros ($730 million), reducing its overall holding by 5 percent.
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General Dynamics to buy Anteon for $2.1B
Dec 14 2005 5:41PM (CT)
FALLS CHURCH, Va. (AP) - Defense contractor General Dynamics Corp. moved to bolster its presence in the information technology market, announcing plans Wednesday to acquire defense and IT firm Anteon International Corp. of Fairfax for $2.1 billion.
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Guidant ties more deaths to faulty product
Dec 14 2005 5:40PM (CT)
INDIANAPOLIS (AP) - Three more patients with recalled defibrillators manufactured by Guidant Corp. have died, bringing the total number of known deaths linked to the faulty products to seven, officials with the troubled medical device maker said.
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Suntech shares rise in 1st day of trading
Dec 14 2005 5:39PM (CT)
WASHINGTON (AP) - Suntech Power Holdings Co. clinched investors' enthusiasm for solar-power cell makers Wednesday, with an initial public offering that lit up the market.
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NYSE lays off about 60 staffers
Dec 14 2005 5:37PM (CT)
NEW YORK (AP) - The New York Stock Exchange laid off about 60 staffers Wednesday, a Big Board spokesman said.
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Somaxon Pharmaceuticals cuts IPO range
Dec 14 2005 5:06PM (CT)
WASHINGTON (AP) - Somaxon Pharmaceuticals Inc. on Wednesday said the estimated price range for its pending 5-million share initial public offering was cut to $10 to $12 a share.
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Winn-Dixie creditors want brief extension
Dec 14 2005 5:00PM (CT)
JACKSONVILLE, Fla. (AP) - Winn-Dixie's creditors have asked a bankruptcy judge to grant the supermarket chain only another 30-day extension to file its plan for emerging from Chapter 11, rather than the 90-day extension Winn-Dixie is requesting.
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Analysts praise Diebold CEO's resignation
Dec 14 2005 4:58PM (CT)
NORTH CANTON, Ohio (AP) - Analysts say the resignation this week of Diebold Inc.'s chief executive may help restore the credibility of the embattled automated-teller and voting machine maker.
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Hollinger posts $18.5 million loss in 1Q
Dec 14 2005 4:51PM (CT)
CHICAGO (AP) - Hollinger International Inc., the newspaper publishing company formerly headed by Conrad Black, reported an $18.5 million first-quarter loss Wednesday and said it expects to report delayed results from the second and third quarters by year's end.
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Wednesday's commodities roundup
Dec 14 2005 4:43PM (CT)
NEW YORK (AP) - Gold prices fell to a weekly low Wednesday, after strong selling overnight by Japanese investors spilled over into the New York futures market.
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Exec: Delta compromise not driven by fear
Dec 14 2005 3:53PM (CT)
NEW YORK (AP) - Delta Air Lines Inc. got less of a pay cut than it wanted in its temporary deal with its pilots, but its willingness to compromise was not driven by the fear that a strike could disrupt Christmas travel, a top company executive said Wednesday.
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Trump to renovate 3 N.J. gambling halls
Dec 14 2005 3:39PM (CT)
ATLANTIC CITY, N.J. (AP) - Hoping to woo customers and boost employee morale after a "death spiral" that ended in Chapter 11, Donald Trump's casino company announced plans Wednesday to spend $110 million sprucing up its three Atlantic City gambling halls.
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Gold prices decline to weekly low
Dec 14 2005 3:27PM (CT)
NEW YORK (AP) - Gold prices fell to a weekly low Wednesday, after strong selling overnight by Japanese investors spilled over into the New York futures market.
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EU to probe Cargill plans on acquisition
Dec 14 2005 3:26PM (CT)
BRUSSELS, Belgium (AP) - European Union regulators said Thursday they would investigate U.S. food company Cargill Inc.'s plans to buy Degussa AG's food-ingredients business.
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Hot toys getting scarce on store shelves
Dec 14 2005 3:22PM (CT)
NEW YORK (AP) - If parents haven't gotten their hands on some of this season's hot holiday toys by now, they may have to give their children an IOU slip under the tree.
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Friedman's emerges from Chapter 11
Dec 14 2005 3:19PM (CT)
SAVANNAH, Ga. (AP) - Less than a year after filing for bankruptcy, jewelry retailer Friedman's Inc. has emerged from Chapter 11 proceedings.
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Court backs panel on GE-Honeywell merger
Dec 14 2005 3:18PM (CT)
LUXEMBOURG (AP) - An EU court ruled Wednesday that the European Commission was right to block General Electric's proposed purchase of Honeywell in 2001, although it criticized regulators for how they made the decision _ keeping the bar high for any future ban.
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GUS buys PriceGrabber.com for $485M
Dec 14 2005 2:42PM (CT)
LONDON (AP) - Retail and financial services group GUS PLC said Wednesday it has bought PriceGrabber.com, a U.S. company that offers online comparison prices for shoppers, for $485 million.
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Cyberonics stock rises on device coverage
Dec 14 2005 2:26PM (CT)
NEW YORK (AP) - Cyberonics Inc. stock rose Wednesday after the medical-device maker said twice as many insurers now cover the company's implantable electronic depression treatment than previously reported.
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IMF chief: world economic outlook improving
Dec 14 2005 2:09PM (CT)
WASHINGTON (AP) - The world economy is on track to log solid growth this year and is expected to perform well next year, despite high energy prices.
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Arrest focuses attention on bank scandal
Dec 14 2005 2:07PM (CT)
ROME (AP) - The arrest of former Banca Popolare Italiana Chief Executive Gianpiero Fiorani highlights his spectacular fall from grace and has put the spotlight back on Bank of Italy Governor Antonio Fazio and his handling of BPI's bid for Banca Antonveneta.
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DuPont fined more than $10M over Teflon
Dec 14 2005 1:36PM (CT)
DOVER, Del. (AP) - DuPont Co. has agreed to pay $10.25 million in fines and $6.25 million for environmental projects to settle allegations by the Environmental Protection Agency that the company hid information about the dangers of a toxic chemical used to make the non-stick coating Teflon, officials said Wednesday.
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Irish Ferries, union announce deal
Dec 14 2005 1:09PM (CT)
DUBLIN, Ireland (AP) - Irish Ferries and Ireland's major labor union announced a deal Wednesday to end an almost three-week shutdown that had threatened to sink the company.
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BET founder teams with Carlyle on firm
Dec 14 2005 12:59PM (CT)
NEW YORK (AP) - Robert L. Johnson, founder and chairman of Black Entertainment Television, has teamed up with the Carlyle Group to launch a private-equity firm that plans to raise a $500 million-plus buyout fund.
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EU tells France to end ban on listings
Dec 14 2005 12:47PM (CT)
BRUSSELS, Belgium (AP) - The European Commission told France on Wednesday to change laws that effectively ban sports clubs from listing on the stock exchange, claiming they violate European laws on the free movement of capital.
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Number of British unemployed up in Nov.
Dec 14 2005 12:47PM (CT)
LONDON (AP) - The number of people out of work and claiming benefits in Britain rose in November for the 10th consecutive month, the government said Wednesday.
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Late mortgage payments up due to storm
Dec 14 2005 12:46PM (CT)
WASHINGTON (AP) - Late mortgage payments jumped sharply in the third quarter as Hurricane Katrina wreaked havoc on Gulf Coast communities.
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SciClone stock falls on hepatitis drug data
Dec 14 2005 12:31PM (CT)
NEW YORK (AP) - Shares of SciClone Pharmaceuticals Inc. plunged Wednesday, after Phase III trial data for the company's drug to treat hepatitis C liver disease showed no significant benefit to its patients.
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N.H. uses Tyco settlement for program
Dec 14 2005 12:09PM (CT)
CONCORD, N.H. (AP) - Years before Dennis Kozlowski was sent to prison for huge frauds at Tyco, the company had agreed to pay New Hampshire, its former home, $5 million to settle allegations of financial misconduct.
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China report said to increase economy size
Dec 14 2005 12:02PM (CT)
BEIJING (AP) - Walk into a bustling Beijing mall or pricey Shanghai restaurant, and official figures that say China's annual economic output is just $1,000 per person seem much too low.
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Monsanto pays top executive $3.24 million
Dec 14 2005 11:50AM (CT)
WASHINGTON (AP) - Monsanto Co. paid its top executive about $3.24 million in salary and bonus for the year ended Aug. 31, according to a regulatory filing Wednesday.
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Energy costs take a big bite
Dec 14 2005 10:49AM (CT)
WASHINGTON (AP) - Terry Grandchamp's Virginia home-remodeling business is booked through spring and he's planning to bump up his prices to help cover the high cost of gasoline and building materials. But when it comes to his own finances there is no passing the buck, so Grandchamp is doing his best to conserve fuel at home and on the road.
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Real estate job engine finally slows down
Dec 14 2005 10:48AM (CT)
NEW YORK (AP) - Ever since the labor market began improving 2 1/2 years ago, the housing boom has supplied an outsized share of new jobs. But if red-hot real estate is cooling, who will be hiring?
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New retail landscape emerges
Dec 14 2005 10:48AM (CT)
NEW YORK (AP) - The shakeout from this year's frenzy of retail consolidation will become more visible to consumers next year, from local department stores disappearing into the Macy's chain to a better selection of store-owned labels on the racks.
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ITV will close its 24-hour news channel
Dec 14 2005 10:41AM (CT)
LONDON (AP) - British broadcaster ITV PLC said Wednesday that it will close its 24-hour news channel in the new year, ending months of speculation about the future of the struggling operation.
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Reports: Gazprom foreign owners may be OK'd
Dec 14 2005 10:25AM (CT)
MOSCOW (AP) - Russia's upper house of parliament on Wednesday approved legislative changes that allow direct foreign ownership of shares in Gazprom, the world's biggest gas producer, Russian agencies reported.
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U.S. banks are warned on North Korea
Dec 14 2005 9:44AM (CT)
WASHINGTON (AP) - The Bush administration has issued a warning to U.S. banks that North Korea may try to use them to carry out illicit activities.
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Kazakhstan set to open pipeline to China
Dec 14 2005 9:26AM (CT)
ALMATY, Kazakhstan (AP) - Kazakhstan is due to open the valves Thursday on a major pipeline carrying oil to fuel-hungry China, establishing the energy-rich former Soviet republic's first oil export route that bypasses Russia.
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Mark Shapiro named new CEO of Six Flags
Dec 14 2005 9:06AM (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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IATA: Air passenger growth to slow in 2006
Dec 14 2005 9:05AM (CT)
GENEVA (AP) - Global growth in air passenger traffic will drag next year due to a general economic slowdown, but falling oil prices could help airlines cut their losses, the industry's trade group said Wednesday.
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Scandal-tainted CEOS have year of reckoning
Dec 14 2005 9:01AM (CT)
NEW YORK (AP) - The scene said everything about the year in white-collar crime: Bernard Ebbers, the jocular, folksy former boss of WorldCom Inc., hunched forward in a courtroom chair, quietly crying.
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VNU says cos. interested in buying it
Dec 14 2005 8:36AM (CT)
AMSTERDAM, Netherlands (AP) - Dutch publisher VNU NV, owner of Nielsen's television ratings, said Wednesday it has been approached by more than one company interested in taking it over and is now considering its options.
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Report: Firms may return profit from error
Dec 14 2005 8:17AM (CT)
TOKYO (AP) - Six brokerage houses are considering returning about 16.8 billion yen ($140 million) in windfall profit they made on a trade error last week, a news report said Wednesday.
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Disney announces film production in China
Dec 14 2005 8:05AM (CT)
BEIJING (AP) - The Walt Disney Co. on Wednesday announced its first film production in China, adding to its efforts to break into the booming Chinese entertainment market.
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Shoemaker steps down after 36 years at UAW
Dec 14 2005 6:54AM (CT)
DETROIT (AP) - United Auto Workers Vice President Richard Shoemaker grew up in a time when General Motors Corp. claimed about 50 percent of the U.S. auto market and imports were virtually nonexistent. Today, his union is battered by foreign competition and he has watched GM's market share shrink by more than half.
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Colombian Indians create soda from coca
Dec 14 2005 6:40AM (CT)
BOGOTA, Colombia (AP) - A new soft drink made in Colombia may not be cola, but it's definitely coca. A Nasa Indian company in southern Colombia has created a golden, carbonated drink made from coca leaf extract, and they plan to market it as an alternative to Coca-Cola.
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Father of 747 sees big things for new jet
Dec 14 2005 6:39AM (CT)
EVERETT, Wash. (AP) - Decades after he engineered Boeing Co.'s original jumbo jet, the father of the storied 747 said Tuesday that he expects big things from the latest version of the double-decker behemoth.
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Fed boosts interest rate to 4.25 percent
Dec 14 2005 3:55AM (CT)
WASHINGTON (AP) - There was just one missing word in the Federal Reserve's public announcement of its 13th rate increase, but it made a big difference. In raising the federal funds rate to 4.25 percent on Tuesday, Chairman Alan Greenspan and his colleagues stopped using the word "accommodation," which in Fed-speak means that interest rates are kept low enough to boost economic growth.
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Some WTO members said reluctant on package
Dec 14 2005 12:32AM (CT)
HONG KONG (AP) - Some WTO members are reluctant to agree on a package of trade liberalization measures designed to help the world's poorest countries, EU trade chief Peter Mandelson said Wednesday.
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