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Thai stock market down by 2.1 percent
Dec 20 2006 11:51PM (CT)
BANGKOK, Thailand (AP) - Thailand's stock market, rocked by a historic plunge following government restrictions on foreign investment, opened with a 2.1 percent drop sparked by profit taking Thursday.
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FedEx 3Q outlook overshadows 2Q earnings
Dec 20 2006 11:10PM (CT)
MEMPHIS, Tenn. (AP) - FedEx Corp.'s second-quarter profit gain of 9 percent was overshadowed Wednesday by the outlook for the third quarter.
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Goldman CEO's $53.4M bonus breaks record
Dec 20 2006 9:04PM (CT)
NEW YORK (AP) - John Mack's record for the biggest bonus ever paid to a Wall Street chief executive didn't last even a week. It was smashed by the $53.4 million that Goldman Sachs gave its chief executive, Lloyd Blankfein.
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Delta creditors to weigh options
Dec 20 2006 8:08PM (CT)
ATLANTA (AP) - The unsecured creditors committee in Delta Air Lines' bankruptcy case, which holds a key role in deciding the carrier's fate, said Wednesday it supports Delta's decision to file its stand-alone reorganization plan, but that it also will weigh alternatives.
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Nike 2Q profit up 8 pct. on sales gains
Dec 20 2006 8:04PM (CT)
BEAVERTON, Ore. (AP) - Nike Inc. said Wednesday that sales growth in Asia and a tax agreement with the Dutch government boosted earnings 8 percent in the second quarter for the world's largest athletic shoe and clothing company.
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Japanese stocks rise on gains in steel
Dec 20 2006 8:00PM (CT)
TOKYO (AP) - Japanese stocks rose just after Thursday's open, buoyed by gains in steel and domestic demand-oriented shares. The dollar inched higher against the yen.
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Ryanair withdraws bid to buy Aer Lingus
Dec 20 2006 7:17PM (CT)
DUBLIN (AP) - Ryanair Holdings PLC said Thursday it is immediately withdrawing its offer to buy Aer Lingus after EU regulators launched a probe into its hostile bid for the Irish carrier.
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Aramark to go private again after buyout
Dec 20 2006 6:34PM (CT)
PHILADELPHIA (AP) - Aramark Corp., the nation's largest foodservice company, will be taken private for the second time in 22 years after shareholders on Wednesday approved a $6.3 billion leveraged buyout bid.
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Delta gets OK to end pilots' pensions
Dec 20 2006 6:32PM (CT)
NEW YORK (AP) - The government's pension insurer gave its final approval Wednesday for a plan to terminate the pensions of Delta Air Lines pilots, a key step for the carrier to resolve a multibillion-dollar issue in its bankruptcy case.
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Merchants try to deal with mad shoppers
Dec 20 2006 6:31PM (CT)
NEW YORK (AP) - 'Tis the season to be ... angry? The countdown to Christmas has dwindled to the single digits: As the mall crowds have worsened, so has the stress on shoppers faced with a creeping deadline to buy gifts _ and they're increasingly taking that stress out on salespeople.
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Harrah's debt load will nearly double
Dec 20 2006 6:30PM (CT)
LAS VEGAS (AP) - Casino giant Harrah's Entertainment Inc.'s debt load will nearly double and its priority will shift to paying it down instead of reinvesting in growth after one of the biggest leveraged buyouts ever, according to SEC documents filed Wednesday.
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Divided FCC approves new cable rules
Dec 20 2006 6:29PM (CT)
WASHINGTON (AP) - A sharply divided Federal Communications Commission voted 3-2 along partisan lines Wednesday to impose new measures meant to ensure that local governments do not block new competitors from entering the cable television market.
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NYSE shareholders back Euronext deal
Dec 20 2006 6:27PM (CT)
NEW YORK (AP) - The New York Stock Exchange said its shareholders approved its planned $14.3 billion acquisition of the Paris-based Euronext NV on Wednesday in a deal that would create the first trans-Atlantic securities market and set the stage for further expansion.
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Bush signs massive tax and trade bill
Dec 20 2006 5:25PM (CT)
WASHINGTON (AP) - President Bush revived some 20 tax breaks, extended trade benefits for developing countries and protected doctors from a big cut in Medicare payments by signing sweeping tax and trade legislation Wednesday.
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Pa. awards licenses for slot machines
Dec 20 2006 4:42PM (CT)
HARRISBURG, Pa. (AP) - Pennsylvania gambling regulators on Wednesday cleared the way for Philadelphia to become the nation's largest city with a casino, while rejecting Donald Trump's bid for a slot-machine parlor and plans for another near the historic Gettysburg battlefield.
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Pa. awards licenses for slot machines
Dec 20 2006 4:42PM (CT)
HARRISBURG, Pa. (AP) - Pennsylvania gambling regulators on Wednesday cleared the way for Philadelphia to become the nation's largest city with a casino, while rejecting Donald Trump's bid for a slot-machine parlor and plans for another near the historic Gettysburg battlefield.
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Innotrac denies signing Siemens contract
Dec 20 2006 4:35PM (CT)
NEW YORK (AP) - A news release heralding a major contract win that led investors to bid up shares of a small Georgia-based outsourcing company Wednesday was "totally false," the company said.
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EU clears Man bid for Scania
Dec 20 2006 3:05PM (CT)
BRUSSELS, Belgium (AP) - The European Commission cleared the way for MAN AG's hostile $13.7 billion offer to take over Sweden's Scania AB on Wednesday, saying the deal that would create Europe's biggest truckmaker raises no antitrust problems.
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FDA warning could slow Tylenol growth
Dec 20 2006 12:30PM (CT)
WASHINGTON (AP) - New warning labels for over-the-counter painkillers proposed by the government could reduce sales for Johnson & Johnson's Tylenol, which has enjoyed a higher safety profile compared with its competitors' products.
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ECB president warns of inflation risks
Dec 20 2006 9:34AM (CT)
FRANKFURT, Germany (AP) - Inflation is likely to increase next year in the 12 countries that use the euro, European Central Bank President Jean-Claude Trichet said Wednesday, a signal that more rate hikes by the bank could be coming.
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Arcelor, Mittal buy Mexico's Sicartsa
Dec 20 2006 8:30AM (CT)
BRUSSELS, Belgium (AP) - Arcelor and Mittal, which are in the process of combining to form the world's biggest steelmaker, announced Wednesday they have bought Mexico's Sicartsa from Grupo Villacero for $1.44 billion.
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Scania workers union reaffirm opposition
Dec 20 2006 8:18AM (CT)
STOCKHOLM, Sweden (AP) - The union representing blue-collar workers of Swedish truck maker Scania AB on Wednesday reaffirmed its objections to a hostile $13.5 billion takeover bid by German rival MAN AG, saying it would cost hundreds of jobs and damage the Scania brand.
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EU nixes Spain's order on Endesa buyout
Dec 20 2006 7:55AM (CT)
BRUSSELS, Belgium (AP) - European Union regulators on Wednesday overturned Spanish conditions on E.On AG's $48.64 billion bid for Spain's biggest electricity company Endesa SA, giving Madrid a Jan. 19 deadline to withdraw them.
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Oil prices rise before inventory report
Dec 20 2006 7:41AM (CT)
LONDON (AP) - Oil prices rose Wednesday, extending their rise above $63 a barrel as traders awaited a weekly report that was expected to show a drop in U.S. oil inventories.
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EBay shifts China strategy
Dec 20 2006 5:51AM (CT)
BEIJING (AP) - EBay Inc. announced Wednesday it is turning over control of its Chinese auction Web site to a Beijing-based partner in a new joint venture, marking a strategic shift as the U.S. company tries to penetrate China's market.
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Report: China currency not manipulated
Dec 20 2006 3:17AM (CT)
WASHINGTON (AP) - The Bush administration is once again contending that it can't cite China as a currency manipulator although that view may be a tougher sell in Congress next year.
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Feds combine lawsuits by rice farmers
Dec 20 2006 2:48AM (CT)
ST. LOUIS (AP) - Lawsuits filed by hundreds of rice farmers in three states over genetically contaminated rice have been consolidated, creating a single legal action that is one of the largest of its kind.
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Palm second-quarter profit falls
Dec 20 2006 1:12AM (CT)
SAN JOSE, Calif. (AP) - Palm Inc. faces challenges not only to compete with a growing number of rivals in the smart phone market but also to drum up investor excitement.
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Former AA chief Don Carty named Dell CFO
Dec 20 2006 1:10AM (CT)
DALLAS (AP) - Dell Inc. chose a familiar face for the computer maker's latest executive change. The name should ring a bell in the airline industry as well.
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