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U.S.: Successful WTO talks still possible
Dec 16 2005 11:22PM (CT)
HONG KONG (AP) - A top U.S. trade official said Saturday that the "potential is there" for a successful end to World Trade Organization talks, but that that goal remains just out of reach.
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Univ. of Illinois launches farming blog
Dec 16 2005 8:36PM (CT)
CHAMPAIGN, Ill. (AP) - The Internet provides farmers a wealth of information on crop marketing, financial management and dealing with crop diseases. But on a busy farm, it can be hard to find time to search the Web for useful information.
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United to resolve creditors' objections
Dec 16 2005 7:55PM (CT)
CHICAGO (AP) - United Air Lines still faces a variety of objections from creditors before it can emerge from bankruptcy, but its chief financial officer said Friday that the airline expects to work out those differences.
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Pfizer wins court ruling on Lipitor patent
Dec 16 2005 7:52PM (CT)
NEW YORK (AP) - Pfizer Inc. won a crucial court ruling Friday that will allow it to exclusively sell the top-selling drug worldwide, the cholesterol-lowering drug Lipitor, until 2011. Shares of Pfizer, the world's largest drug company, soared more than 11 percent on the news.
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Judge denies Enron case gag order request
Dec 16 2005 7:49PM (CT)
HOUSTON (AP) - A judge Friday refused to muzzle out-of-court statements related to the fraud and conspiracy case against Enron Corp. founder Kenneth Lay and former chief executive Jeffrey Skilling after Lay's speech Tuesday lambasting government tactics in pursuing him.
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Brazil, Venezuela work on refinery plans
Dec 16 2005 7:26PM (CT)
SUAPE, Brazil (AP) - The presidents of Venezuela and Brazil pressed forward Friday with plans to build a shared oil refinery at this Atlantic port, vowing to bolster South America's neglected infrastructure.
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Talks between Alaska, 3 oil cos. halted
Dec 16 2005 7:20PM (CT)
JUNEAU, Alaska (AP) - Negotiations have been halted for the next few weeks between Alaska and three oil companies on terms for $20 billion deal to build a natural gas pipeline in the state's North Slope region.
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First Data lays off 1,000 workers
Dec 16 2005 6:50PM (CT)
GREENWOOD VILLAGE, Colo. (AP) - First Data Corp., parent company of the money transfer service Western Union, laid off 1,000 workers Friday, or about 3 percent of its work force.
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Animas shares rise on acquisition by J&J
Dec 16 2005 6:38PM (CT)
NEW BRUNSWICK, N.J. (AP) - Shares of insulin pump maker Animas Corp. soared more than 30 percent Friday after health care conglomerate Johnson & Johnson said it had agreed to acquire the company for about $518 million to capitalize on the growing demand for diabetes treatment.
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Delphi seeks more time on reorganization
Dec 16 2005 6:36PM (CT)
DETROIT (AP) - Auto supplier Delphi Corp. asked a bankruptcy court Friday to give it six more months to file a reorganization plan so it can work out an agreement that doesn't disrupt business.
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Geely to have display at Detroit auto show
Dec 16 2005 6:35PM (CT)
DETROIT (AP) - The Motor City will see some proof of the Chinese auto industry's growing ambitions next month when Geely Automobile Co. becomes the first Chinese automaker to have a display at the Detroit auto show.
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Attorney seeks information in Qwest case
Dec 16 2005 6:34PM (CT)
DENVER (AP) - An attorney for a former Qwest executive charged with fraud said Friday he is concerned that publicity stemming from a "potential indictment" of former Qwest chief executive Joe Nacchio could affect his client's right to a fair trial.
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IDB to settle money laundering case
Dec 16 2005 6:31PM (CT)
NEW YORK (AP) - Israel Discount Bank of New York has agreed to pay up to $25 million to settle state and federal claims that it allowed illegal Brazilian money transmitters to move $2.2 billion through its offices over the past five years.
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Vioxx retrial set for Feb. in New Orleans
Dec 16 2005 6:17PM (CT)
HOUSTON (AP) - Round Two of the nation's first federal trial challenging safety of Merck & Co.'s drug Vioxx will be Feb. 6 in New Orleans, a judge told attorneys Friday.
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Cintra shareholders OK sale of Mexicana
Dec 16 2005 6:14PM (CT)
MEXICO CITY (AP) - Mexico's government-run airline holding company, Cintra SA, said Friday that its shareholders unanimously approved the sale of its Mexicana airline group to local hotel chain Grupo Posadas SA.
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Hollinger reports $15.5 million 2Q loss
Dec 16 2005 6:03PM (CT)
CHICAGO (AP) - Hollinger International Inc. reported a $15.5 million second-quarter loss Friday and said it lost $34.1 million through the first half of 2005. It reiterated its intention to report third-quarter results by the end of the year.
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WTO global trade talks move toward failure
Dec 16 2005 5:59PM (CT)
HONG KONG (AP) - Global trade talks slid closer to failure Saturday over the issue of protection for poor farmers. The EU's chief negotiator said the talks were "going backwards" _ an ominous development that could damage the credibility of the World Trade Organization itself.
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Reports: DaimlerChrysler may ax more jobs
Dec 16 2005 5:54PM (CT)
BERLIN (AP) - Thousands more job cuts could be looming at automaker DaimlerChrysler AG, German newspapers reported in their online editions on Friday. The company had no comment on the reports.
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Friday's commodities roundup
Dec 16 2005 5:49PM (CT)
NEW YORK (AP) - Sugar prices surged to a 10.5-year record on the New York Board of Trade Friday, as funds and trade houses bought and producers covered short positions.
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Sid Richardson Energy Services to be sold
Dec 16 2005 5:24PM (CT)
DALLAS (AP) - The Bass family, long synonymous with oil and wealth in Texas, has agreed to sell one of its last holdings in the oil and gas industry, the pipeline company Sid Richardson Energy Services Co., for $1.6 billion in cash to the natural gas distributor Southern Union Co.
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Co. loses tape with customer information
Dec 16 2005 5:09PM (CT)
CHICAGO (AP) - A subsidiary of LaSalle Bank Corp. said Friday a tape containing information of about 2 million residential mortgage customers around the country was lost as it was being transported from Chicago to Texas.
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Santomero to exit Fed post at end of March
Dec 16 2005 5:06PM (CT)
WASHINGTON (AP) - Anthony Santomero, president of the Federal Reserve Bank in Philadelphia, announced Friday that he will step down at the end of March after nearly six years at the helm.
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RadioShack shares drop on profit warning
Dec 16 2005 5:04PM (CT)
FORT WORTH, Texas (AP) - Shares of RadioShack Corp. fell more than 6 percent Friday after the company warned it would miss its annual earnings forecast because of weaker than expected sales of wireless devices, batteries and related accessories.
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SEC probes Brunson's WPT Enterprises bid
Dec 16 2005 5:01PM (CT)
WASHINGTON (AP) - The Securities and Exchange Commission Friday said it is investigating poker star Doyle Brunson's $700 million bid earlier this year to take over World Poker Tour operator WPT Enterprises Inc.
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St. Jude Medical to increase CEO salary
Dec 16 2005 4:54PM (CT)
WASHINGTON (AP) - St. Jude Medical Inc. will pay its top executive a base salary of $975,000 starting Jan. 2, 2006, according to a regulatory filing Friday.
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Report: Group nears deal on Albertson's
Dec 16 2005 4:53PM (CT)
BOISE, Idaho (AP) - An investment group including Cerberus Capital, Kimco Realty Corp. and Minnesota-based supermarket chain Supervalu Inc. is near a deal to buy Albertson's Inc., the second-largest U.S. supermarket chain, for about $9.6 billion, The Wall Street Journal reported Friday.
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Carnival 4Q profit up 20 percent to $353M
Dec 16 2005 4:48PM (CT)
MIAMI (AP) - Carnival Corp., the world's largest cruise operator, said Friday fiscal fourth-quarter earnings jumped 20 percent on new capacity and the continued rise of ticket prices and onboard revenues. But its shares fell 4 percent as it said that earnings next year would be lower than analysts expected.
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Sun Capital in deal to refinance LDV
Dec 16 2005 4:46PM (CT)
LONDON (AP) - U.S. private equity firm Sun Capital Partners Inc. agreed to a refinancing package Friday in a deal to rescue ailing British van maker LDV, saving 1,000 jobs.
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Investors flock to Spansion stock
Dec 16 2005 4:46PM (CT)
WASHINGTON (AP) - A money-losing semiconductor company stole the show in IPO trading Friday, as investors flocked to Spansion Inc.'s stock.
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Weyerhaeuser to close, sell several mills
Dec 16 2005 4:44PM (CT)
FEDERAL WAY, Wash. (AP) - Weyerhaeuser Co., one of the nation's largest producers of lumber and paper products, has announced plans to close or sell plants in eight U.S. states and two Canadian provinces, the latest in a series of cutbacks since a steep drop in third-quarter profits.
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Ford, sedan owners finalize settlement
Dec 16 2005 4:37PM (CT)
DETROIT (AP) - Ford Motor Co. has finalized a settlement that requires the automaker to pay at least $735 each to sedan owners who had to replace an intake manifold, attorneys for the plaintiffs said Friday.
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Judge sets date for Conrad Black trial
Dec 16 2005 4:13PM (CT)
CHICAGO (AP) - A judge set a March 2007 starting date for Conrad Black's fraud and racketeering trial after the former newspaper tycoon pleaded not guilty Friday to new charges in connection with the alleged plundering of more than $84 million from Hollinger International Inc., the company he once controlled.
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Analysts praise Ameritrade acquisition
Dec 16 2005 3:50PM (CT)
OMAHA, Neb. (AP) - More than a third of the nearly $2 billion online brokerage Ameritrade Holding Corp. plans to borrow to pay for its latest acquisition will go directly to the company's board and top executives in dividends.
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Oil prices slide to $58 per barrel
Dec 16 2005 3:37PM (CT)
WASHINGTON (AP) - The price of oil fell to its lowest level in more than two weeks on Friday as traders took note of warmer weather in the Northeast and locked in profits ahead of the weekend.
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High-end shops wooing men with pizza, beer
Dec 16 2005 3:02PM (CT)
OMAHA, Neb. (AP) - Mike Galaska does not like to shop. He doesn't like the crowds or spending money. It's for women, he says. But pizza and beer? He can handle that.
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Fresh Del Monte stock up on auction report
Dec 16 2005 1:57PM (CT)
AUSTIN, Texas (AP) - Shares of Fresh Del Monte Produce Inc. climbed Friday after TheDeal.com reported that the company is on the auction block and could fetch about $1.8 billion.
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SEAT reaches accord with unions on layoffs
Dec 16 2005 1:22PM (CT)
MADRID, Spain (AP) - Spanish car manufacturer SEAT, owned by Germany's Volkswagen AG, said Friday it had reached a deal with unions under which it will lay off 660 employees from its Spanish plants, less than half the job cuts the company initially planned.
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McLeod reorganization plans gets approval
Dec 16 2005 1:22PM (CT)
CEDAR RAPIDS, Iowa (AP) - McLeodUSA Inc. said Friday it plans to emerge from Chapter 11 bankruptcy in January after receiving court approval of its reorganization plan.
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German business confidence up in December
Dec 16 2005 1:18PM (CT)
BERLIN (AP) - German business confidence rose in December to its highest level in more than five years, a closely watched survey showed Friday, in a sign that Europe's largest economy may strengthen after years of sluggish growth.
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Canal Plus, TPS to merge to form group
Dec 16 2005 1:16PM (CT)
PARIS (AP) - French pay-TV operators Canal Plus and TPS are to merge to form a new group controlled by Vivendi Universal SA, the company said Friday.
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Old Mutual to announce result of bid soon
Dec 16 2005 1:09PM (CT)
STOCKHOLM, Sweden (AP) - Financial services company Old Mutual PLC said Friday it will announce the result of its $6 billion takeover bid for Swedish insurer Skandia on Wednesday. Skandia's board of directors has opposed the bid.
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Buy.com cuts expected IPO price
Dec 16 2005 1:02PM (CT)
WASHINGTON (AP) - Underwriters for Buy.com Inc., an online technology and entertainment goods retailer, on Friday cut the expected per-share price of the company's pending initial public offering to $8 from $11 to $13.
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Official calls for Fazio's removal
Dec 16 2005 12:58PM (CT)
ROME (AP) - Italian Economy Minister Giulio Tremonti called for the ouster of Bank of Italy Governor Antonio Fazio on Friday, as pressure on the governor rose with reports that he was under investigation for insider trading.
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Siemens seeks large stake in Power Machines
Dec 16 2005 12:23PM (CT)
MOSCOW (AP) - Germany's Siemens AG has requested permission to acquire a large stake in the Russian heavy industry giant Power Machines, Russia's antitrust agency said Friday.
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Diebold sued by two groups of investors
Dec 16 2005 12:01PM (CT)
CLEVELAND (AP) - Two groups of investors are suing Diebold Inc., claiming that misleading comments about the company's electronic voting machine business artificially inflated share prices.
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Evans considering job at Russian oil co.
Dec 16 2005 11:45AM (CT)
WASHINGTON (AP) - Russian President Vladimir Putin has offered former Commerce Secretary Donald Evans, a close friend of President Bush, a top job at Russian state oil company OAO Rosneft.
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Ex-Medical Manager execs charged with fraud
Dec 16 2005 10:46AM (CT)
WASHINGTON (AP) - The Justice Department has indicted 10 former executives at a one-time unit of WebMD Corp., alleging the executives conspired to inflate earnings at the unit by more than $16.8 million from 1997 to 2001.
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Heathrow Airport rationing fuel due to fire
Dec 16 2005 9:51AM (CT)
LONDON (AP) - Heathrow Airport is rationing fuel for airlines because its supplies have been affected by the huge fire at a nearby oil depot, the airport's operator said Friday.
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Novartis halts cholesterol drug development
Dec 16 2005 9:24AM (CT)
BASEL, Switzerland (AP) - Swiss pharmaceutical company Novartis AG said Friday it halted development of cholesterol drug pitavastatin and will post a $266 million charge against earnings in the fourth quarter as a result.
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Dutch gov't surrenders 'golden share'
Dec 16 2005 9:17AM (CT)
AMSTERDAM, Netherlands (AP) - The Dutch government has given up its so-called "golden share," which granted it the right to veto mergers, in former state telecommunications company said Royal KPN NV, the company said Friday.
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Martha Stewart finance chief to resign
Dec 16 2005 9:00AM (CT)
NEW YORK (AP) - Martha Stewart Living Omnimedia Inc. said Friday that James Follo, chief financial and administrative officer, will resign in March and will be replaced temporarily as chief financial officer by its vice president for finance and investor relations, Howard Hochhauser.
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Alitalia signs financing deal with GE unit
Dec 16 2005 8:11AM (CT)
ROME (AP) - Italian airline Alitalia said Friday it had signed an eight-year, $445 million financing agreement with GE Corporate Banking Europe SAS, a unit of the industrial, media and financial services conglomerate General Electric Co.
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Nov. euro-zone inflation estimate revised
Dec 16 2005 7:21AM (CT)
BRUSSELS, Belgium (AP) - Inflation in the 12 countries using the euro was revised to 2.3 percent in November versus a year earlier, slightly slower growth than had been previously reported, the EU statistical agency Eurostat said Friday.
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Group may reinstate boycott against Ford
Dec 16 2005 6:28AM (CT)
DETROIT (AP) - The conservative American Family Association said Thursday it will consider reinstating a boycott against Ford Motor Co. because the automaker plans to continue running advertisements in gay publications.
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Judge: Aloha Air can cancel pension plans
Dec 16 2005 6:04AM (CT)
HONOLULU (AP) - A federal judge on Thursday upheld Aloha Airlines' effort to jettison its worker pension plans, rejecting an appeal by the federal pension agency that could have derailed the airline's exit from bankruptcy.
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Scrushy sues HealthSouth for $70 million
Dec 16 2005 5:28AM (CT)
BIRMINGHAM, Ala. (AP) - Former HealthSouth Corp. CEO Richard M. Scrushy is suing the company he founded, seeking more than $70 million for what he says was a breach of contract stemming from his March 2003 firing.
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EU: Direction of WTO talks 'worrying'
Dec 16 2005 4:59AM (CT)
HONG KONG (AP) - EU trade chief Peter Mandelson said Friday that the direction of World Trade Organization talks appeared to be "going backwards" and questioned whether progress in moving toward a global trade accord could be achieved during the Hong Kong meeting.
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WTO to give duty-free deal to poor nations
Dec 16 2005 3:46AM (CT)
HONG KONG (AP) - Negotiators at a World Trade Organization meeting reached an agreement on a draft text Friday that would grant duty-free and quota-free access to imports from so-called least developing countries, Indian and Indonesian officials said.
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Bank of Japan votes on monetary policy
Dec 16 2005 12:12AM (CT)
TOKYO (AP) - Policy board members of Japan's central bank voted Friday to hold its ultra-loose monetary policy steady, deciding Japan's economy hasn't yet gotten out of deflation.
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