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Calpine files for bankruptcy protection
Dec 20 2005 11:32PM (CT)
SAN JOSE, Calif. (AP) - Struggling power merchant Calpine Corp. filed for Chapter 11 bankruptcy court protection late Tuesday as it grapples with more than $17 billion in debt.
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Toyota sets 9.06M 2006 production target
Dec 20 2005 11:16PM (CT)
NAGOYA, Japan (AP) - Toyota announced Tuesday a global production target of 9.06 million vehicles for next year, and analysts said it's only a matter of time before the Japanese automaker overtakes struggling U.S. rival General Motors as the world's top automaker.
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America Online, Google seal $1B deal
Dec 20 2005 10:47PM (CT)
SAN FRANCISCO (AP) - America Online on Tuesday agreed to sell a 5 percent stake to Google Inc. in a $1 billion deal that deepens the ties binding two of the Web's most popular sites while thwarting Microsoft Corp.'s efforts to grab a larger piece of the booming Internet advertising market.
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Ford: Recall parts unavailable until Feb.
Dec 20 2005 10:46PM (CT)
WASHINGTON (AP) - Ford Motor Co. said Tuesday that replacement parts used in its recall of 3.8 million pickup trucks and sport utility vehicles would not be available until February because of production delays.
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Allergan agrees to acquire rival Inamed
Dec 20 2005 10:45PM (CT)
IRVINE, Calif. (AP) - Botox maker Allergan Inc. agreed Tuesday to acquire rival Inamed Corp. in a cash-stock deal valued at $3.2 billion.
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ConAgra restructures around two divisions
Dec 20 2005 10:29PM (CT)
OMAHA, Neb. (AP) - ConAgra Foods Inc. will operate with two main divisions instead of three under a restructuring announced Tuesday, which also includes the addition of a new chief marketing officer.
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Japanese stocks higher; dollar slips
Dec 20 2005 10:09PM (CT)
TOKYO (AP) - Japanese stocks rose Wednesday morning, with the market's main index moving to a fresh five-year high as traders bought domestic demand-related stocks and exporter issues.
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Electronic Arts downgrades 3Q, 4Q views
Dec 20 2005 10:02PM (CT)
SAN JOSE, Calif. (AP) - Video game publishing giant Electronic Arts Inc. on Tuesday downgraded its outlook for the third and fourth fiscal quarters, blaming slow holiday sales. Company shares slid nearly 4 percent in aftermarket trading.
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Lenovo names Amelio new chief executive
Dec 20 2005 9:48PM (CT)
HONG KONG (AP) - Chinese computer maker Lenovo Group Ltd. said Wednesday it has named former Dell Inc. executive William J. Amelio as its new chief executive and president.
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Tyco to sell plastics, adhesive businesses
Dec 20 2005 9:32PM (CT)
TRENTON, N.J. (AP) - Tyco International Ltd. said Tuesday it is selling its plastics and adhesives businesses to a private investment firm for $975 million in cash.
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Palm 2Q profit surges on tax benefit
Dec 20 2005 9:19PM (CT)
SAN JOSE, Calif. (AP) - Palm Inc. on Tuesday said profit surged with a tax-related gain in its fiscal second quarter, as the handheld maker added new carriers and increased shipments of its Web-enabled Treo smartphones. Its shares surged in late trading.
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Kerkorian sells 12 million GM shares
Dec 20 2005 8:32PM (CT)
LOS ANGELES (AP) - Billionaire investor Kirk Kerkorian reduced his stake in General Motors Corp. to 7.8 percent this month, taking a significant loss on his investment in order to qualify for a tax break, according to a regulatory filing.
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Ex-Qwest CEO indicted for insider trading
Dec 20 2005 8:18PM (CT)
DENVER (AP) - A federal grand jury indicted former Qwest Communications Chief Executive Joseph Nacchio Tuesday on 42 counts of insider trading accusing him of illegally selling $101 million in company shares after privately learning that Qwest might not meet its financial goals.
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Nike second quarter profit up 15 percent
Dec 20 2005 7:57PM (CT)
BEAVERTON, Ore. (AP) - Nike Inc. said strong U.S. sales boosted second-quarter profits 15 percent to $301 million, but shares of the world's largest athletic shoe and clothing company slumped in late trading Tuesday as future orders fell short of expectations.
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Sprint Nextel to buy Nextel Partners
Dec 20 2005 7:24PM (CT)
KANSAS CITY, Mo. (AP) - Sprint Nextel Corp. said Tuesday it would buy outstanding shares of Nextel Partners Inc. in a deal valued at $6.5 billion, or $28.50 per share, settling a battle with its largest affiliate.
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NYC businesses open despite transit strike
Dec 20 2005 6:37PM (CT)
NEW YORK (AP) - From Wall Street investment banks to major retailers like Toys R Us Inc., many New York businesses found a way to keep going Tuesday as a shutdown of subway and bus lines inconvenienced millions of employees and customers at the height of the holiday and tourism season.
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7 states join forces to cut gas emissions
Dec 20 2005 6:20PM (CT)
AUGUSTA, Maine (AP) - Seven Northeast states have agreed to set up a first-of-its-kind system designed to cut greenhouse gas emissions from power plants, governors around the region said Tuesday.
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Southwest sued over plane skid incident
Dec 20 2005 6:20PM (CT)
CHICAGO (AP) - Two passengers have filed lawsuits over a Dec. 8 accident when a Southwest Airlines jet skidded off a runway during a snowstorm at Chicago's Midway Airport.
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AEP raises earnings forecast for 2005
Dec 20 2005 6:04PM (CT)
COLUMBUS, Ohio (AP) - American Electric Power Co., the nation's largest power generator, on Tuesday boosted its earnings forecast for 2005, citing higher wholesale sales of power and chilly December temperatures.
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U.S. Treasury prices slide
Dec 20 2005 5:47PM (CT)
NEW YORK (AP) - Treasury prices lost a small amount of ground Tuesday after the U.S. government reported yet another round of strong housing-market data.
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Tuesday's commodities roundup
Dec 20 2005 5:35PM (CT)
NEW YORK (AP) - Gold plunged through the psychological $500-an-ounce level Tuesday at the New York Mercantile Exchange amid end-of-the-year liquidation and book squaring.
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BP, Exxon Mobil hit with antitrust suit
Dec 20 2005 5:27PM (CT)
JUNEAU, Alaska (AP) - An antitrust lawsuit filed against Exxon Mobil Corp. and BP PLC claims the two oil giants are conspiring to crush competition and restrict the nation's supply of natural gas.
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FDA warns J&J unit on blood-glucose tests
Dec 20 2005 5:20PM (CT)
WASHINGTON (AP) - The Food and Drug Administration warned a unit of Johnson & Johnson for failing to properly investigate and report problems with blood-glucose tests used by people with diabetes.
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Morgan Stanley 4Q profit soars to $1.79B
Dec 20 2005 5:18PM (CT)
NEW YORK (AP) - Wall Street investment firm Morgan Stanley saw its fourth-quarter earnings climb 49 percent, the company said Tuesday, due to strong investment banking revenues and a surge in fixed-income trading.
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Acxiom board rejects takeover attempt
Dec 20 2005 5:12PM (CT)
LITTLE ROCK, Ark. (AP) - The board of Acxiom Corp. has rejected a $2 billion offer from a private investor group that has sought to take over the data company, Acxiom said Tuesday.
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Chiron shareholder opposes Novartis deal
Dec 20 2005 5:10PM (CT)
SAN FRANCISCO (AP) - A major Chiron Corp. shareholder plans to vote against the company's proposed acquisition by Novartis AG, saying Tuesday that the offer price is too low.
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Ford takes action to reduce emissions
Dec 20 2005 4:36PM (CT)
DETROIT (AP) - Ford Motor Co. said Tuesday it is taking action to reduce harmful emissions from its plants and vehicles, but the automaker said continued progress depends on better collaboration with the oil industry and government, and better education of consumers about their driving habits.
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Brazil oil production hits new record
Dec 20 2005 4:19PM (CT)
RIO DE JANEIRO, Brazil (AP) - Brazil's daily oil output hit a record 1.86 million barrels, with exceptional output from its offshore fields, the government oil company Petrobras said Tuesday.
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Citgo pays dividends to parent company
Dec 20 2005 3:22PM (CT)
CARACAS, Venezuela (AP) - U.S. refining company Citgo Petroleum Corp. paid $785 million in dividends this year to its parent company, Venezuela's state oil firm.
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Nigeria oil pipeline blast kills eight
Dec 20 2005 3:04PM (CT)
PORT HARCOURT, Nigeria (AP) - Attackers blew up a Royal Dutch Shell PLC pipeline carrying crude oil across southern Nigeria on Tuesday, killing at least eight people and cutting crude production in Africa's oil giant, company officials and witnesses said.
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Computer Sciences, DuPont set extension
Dec 20 2005 2:55PM (CT)
DOVER, Del. (AP) - Computer Sciences Corp. on Tuesday said it finalized an extension to its contract to provide information technology outsourcing services to DuPont Co., in a deal worth an estimated $1.6 billion to $2 billion.
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Star Tribune settles circulation lawsuit
Dec 20 2005 2:52PM (CT)
MINNEAPOLIS (AP) - The Star Tribune has settled an advertiser lawsuit that had claimed the newspaper inflated circulation so it could charge more for ads.
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Sun-Times ends youth-oriented newspaper
Dec 20 2005 2:50PM (CT)
CHICAGO (AP) - The Chicago Sun-Times said Monday it is pulling the plug on its youth-oriented Red Streak newspaper, three years after launching it as a defensive move against a similar offering from the Chicago Tribune.
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Town & Country stock rises on sale
Dec 20 2005 2:23PM (CT)
NEW YORK (AP) - Shares of Town & Country Trust, a real-estate investment trust, jumped Tuesday, boosted by optimism about its sale.
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Berlusconi vows swift banking reform
Dec 20 2005 2:22PM (CT)
ROME (AP) - Italy's government promised on Tuesday the swift passage of a reform of the central bank, part of a long-awaited broader bill to shore up financial regulation and protect the country's small savers.
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LSE: 129 cos. listed on markets in 2005
Dec 20 2005 1:14PM (CT)
LONDON (AP) - The London Stock Exchange said a record 129 international companies from 29 countries listed on its main bourse and its smaller AIM bourse in 2005, an increase of 82 percent from a year earlier.
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Ryanair cuts schedule due to late delivery
Dec 20 2005 1:10PM (CT)
LONDON (AP) - Irish budget airline Ryanair Holdings PLC said Tuesday it is cutting its flying schedule in the next quarter because of the late delivery of planes from Boeing Co.
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Germany calls for 'purity law' for wine
Dec 20 2005 12:23PM (CT)
BRUSSELS, Belgium (AP) - The European Union approved a trans-Atlantic agreement on U.S. wine imports into a glutted European market Tuesday, but Germany called for the imposition of a "purity law" to protect European wines from U.S. vintners practices.
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TD Holding plans IPO worth up to $200M
Dec 20 2005 12:21PM (CT)
WASHINGTON (AP) - TD Holding Corp., an aircraft-components company, Tuesday said it will go public in an initial offering of stock worth up to $200 million.
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Venoco plans IPO worth up to $230 million
Dec 20 2005 11:39AM (CT)
WASHINGTON (AP) - Venoco Inc., an oil and gas exploration and production company, Tuesday said it plans an initial public offering worth as much as $230 million.
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Team Health withdraws its IPO
Dec 20 2005 11:38AM (CT)
WASHINGTON (AP) - Team Health Inc. withdrew its initial public offering with the Securities and Exchange Commission on Monday, due to its acquisition by the Blackstone Group.
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French antitrust groiup fines Disney unit
Dec 20 2005 11:06AM (CT)
PARIS (AP) - France's antitrust regulator Tuesday slapped a 14.4 million euros ($17.2 million) fine on Buena Vista Home Entertainment Inc., a unit of Walt Disney Co., and three French retailers for fixing home video prices between 1995 and 1998.
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Old Mutual: enough holders to buy Skandia
Dec 20 2005 10:58AM (CT)
STOCKHOLM, Sweden (AP) - Financial services company Old Mutual PLC said Tuesday its $5.9 billion battle to buy Swedish insurer Skandia has been successful, with a majority of shareholders accepting its hostile bid for the company.
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ABN Amro execs to return bonuses after fine
Dec 20 2005 10:54AM (CT)
AMSTERDAM, Netherlands (AP) - ABN Amro's chief executive and other top managers will return a combined 1 million euros ($1.2 million) from their 2004 bonuses after the bank was fined $80 million (66.8 million euros) for not properly reporting suspicious transactions.
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United CEO: not ready for early rush
Dec 20 2005 10:38AM (CT)
CHICAGO (AP) - United Airlines' chief executive says inadequate staffing and unpreparedness at the nation's second largest airline contributed to hours of delays for thousands of early holiday travelers who stood outside for hours in frigid weather at O'Hare International Airport on Saturday.
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China says economy much bigger than thought
Dec 20 2005 10:14AM (CT)
BEIJING (AP) - China said Tuesday its economy is much bigger and less dependent on exports than previously reported, issuing new data that analysts said make its roaring growth look easier to sustain and could encourage even more foreign investment.
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Europe to feel effects of oil spike in '06
Dec 20 2005 10:07AM (CT)
BRUSSELS, Belgium (AP) - Europeans will feel the effect of the recent oil-price spike throughout 2006, the European Commission said Tuesday as it released its quarterly report on the 12 countries that use the euro currency.
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Koch's Georgia-Pacific takeover gets OK
Dec 20 2005 9:49AM (CT)
BRUSSELS, Belgium (AP) - EU regulators cleared Koch Industries Inc.'s $13.2 billion takeover of paper-products giant Georgia-Pacific Corp. on Tuesday, a deal that would create the United States' largest private company.
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Morgan Stanley buys Goldfish in $1.8B deal
Dec 20 2005 9:40AM (CT)
LONDON (AP) - Morgan Stanley Bank International Ltd. agreed to buy Lloyds TSB's Goldfish credit-card business in a cash deal valued at nearly 1 billion pounds ($1.8 billion), the companies said Tuesday.
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ABB sees court approval as positive step
Dec 20 2005 9:20AM (CT)
ZURICH, Switzerland (AP) - Swiss-Swedish engineering company ABB Ltd. said a U.S. bankruptcy court's approval of a revised reorganization plan for its U.S.-based subsidiary is a major step toward resolving asbestos claims that have burdened the unit.
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Georgia to pay nearly double for Russia gas
Dec 20 2005 8:44AM (CT)
TBILISI, Georgia (AP) - Georgia agreed on Tuesday to pay nearly double for the natural gas it receives from Russian gas monopoly Gazprom as the company negotiates higher contracts for 2006 with former Soviet republics.
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EU clears Kohlberg Kravis to buy company
Dec 20 2005 8:28AM (CT)
BRUSSELS, Belgium (AP) - EU regulators on Tuesday cleared U.S. investment firm Kohlberg Kravis Roberts & Co. LP to buy FL Selenia SPA, Europe's largest independent manufacturer of branded auto lubricants.
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Wal-Mart admits probe over hazardous waste
Dec 20 2005 8:11AM (CT)
LITTLE ROCK, Ark. (AP) - Wal-Mart Stores Inc. is the target of a criminal investigation over how it handled merchandise that is classified as hazardous waste, the company announced Tuesday.
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CR Airways signs preliminary Boeing deal
Dec 20 2005 7:34AM (CT)
HONG KONG (AP) - Hong Kong's CR Airways Ltd. signed a preliminary agreement to acquire 30 Boeing 737-800s and 10 Boeing 787 Dreamliners that could be delivered in the next five years, the airline and aircraft maker said Tuesday.
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Swiss Re: $80B in disaster losses in 2005
Dec 20 2005 7:32AM (CT)
ZURICH, Switzerland (AP) - Natural and manmade disasters that killed 112,000 people this year caused an estimated $80 billion in insured losses, making 2005 the world's costliest year for insurers, Swiss Reinsurance Co. said Tuesday.
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President, execs at Tokyo exchange resign
Dec 20 2005 7:10AM (CT)
TOKYO (AP) - The president and other executives at Japan's largest bourse have resigned following two computer system failures, including one that cost a major brokerage house more than $300 million, the Tokyo Stock Exchange said Tuesday.
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Honda Ridgeline named truck of the year
Dec 20 2005 4:58AM (CT)
DETROIT (AP) - The Honda Ridgeline was named the 2006 truck of the year by Motor Trend magazine, an award that could help boost the pickup's lackluster sales.
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Cloud-seeding project excites scientists
Dec 20 2005 3:36AM (CT)
CHEYENNE, Wyo. (AP) - Like most other western states, Wyoming is rich in oil, gas, coal and other mineral deposits. What it lacks is simple: water.
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Honda expects global sales in 2005 are up
Dec 20 2005 12:19AM (CT)
TOKYO (AP) - Honda Motor Co. expects its global sales in 2005 will have risen 5 percent from a year earlier to 3.35 million vehicles, the Japanese automaker's top executive said Tuesday.
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