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Boeing to get 787s into service by 2008
Dec 21 2005 11:48PM (CT)
SEATTLE (AP) - Boeing Co. said Wednesday it plans to deliver 112 of its new 787 airplanes in 2008 and 2009, and is still on track to get the plane into service in early summer of 2008.
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Hedge fund operator admits to stock scheme
Dec 21 2005 11:45PM (CT)
BRIDGEPORT, Conn. (AP) - A hedge fund operator on Wednesday admitted to a scheme in which he manipulated the price of two biotechnology stocks, causing the market value of the companies to drop by more than $300 million, authorities said.
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Ford computer with employee data stolen
Dec 21 2005 11:22PM (CT)
DETROIT (AP) - Ford Motor Co. informed about 70,000 active and former white-collar employees that a computer with company data, including social security numbers, was stolen from a Ford facility.
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RIM 3Q earnings up on subscriber growth
Dec 21 2005 11:00PM (CT)
TORONTO (AP) - Research in Motion Ltd., the maker of the BlackBerry wireless messaging device, released better than expected third quarter results on Wednesday _ quelling some fears that an ongoing patent dispute that threatens to shut down the popular service in the United States is significantly hurting the business.
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Citigroup pays $1 million civil penalty
Dec 21 2005 10:40PM (CT)
PROVIDENCE, R.I. (AP) - Citigroup Global Markets has paid a $1 million civil penalty to Rhode Island for failing to oversee a father-son broker team who allegedly took advantage of elderly customers, state regulators said Wednesday.
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PG&E to pay $96,000 nuclear plant fine
Dec 21 2005 10:40PM (CT)
SAN FRANCISCO (AP) - Federal regulators on Wednesday proposed fining Pacific Gas and Electric Co. $96,000 for losing track of material removed from a nuclear reactor more than 30 years ago. The violations occurred at a PG&E nuclear power plant near Eureka, which the utility shut down in 1976.
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Japanese stocks retreat; dollar higher
Dec 21 2005 10:34PM (CT)
TOKYO (AP) - Japanese stocks fell Thursday morning, taking a breather from a breakneck session a day earlier when the main index briefly topped 16,000 points for the first time in more than five years. The dollar was higher against the yen and euro.
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Jury rules in favor of Boeing in lawsuit
Dec 21 2005 10:03PM (CT)
SEATTLE (AP) - Dealing a victory to the Boeing Co., a federal jury decided Wednesday that the airplane maker had not discriminated against black employees in promotions, as plaintiffs in a class-action lawsuit contended.
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New Calif. voting machines face tests
Dec 21 2005 9:42PM (CT)
SACRAMENTO, Calif. (AP) - California's secretary of state has warned election officials in 17 counties that new electronic voting machines produced by Diebold Election Systems may not be available for use in upcoming elections if they don't pass new security tests.
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Allergan in $3.2 billion deal for Inamed
Dec 21 2005 8:49PM (CT)
LOS ANGELES (AP) - With its $3.2 billion deal for Inamed Corp., Botox maker Allergan Inc. is poised to become a behemoth in the field of surgical beauty enhancements, selling everything from cosmetic drugs to breast implants.
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H&R Block to pay $62.5M to settle suits
Dec 21 2005 8:26PM (CT)
KANSAS CITY, Mo. (AP) - Tax preparer H&R Block Inc. on Wednesday agreed to pay $62.5 million to settle a number of class-action lawsuits dealing with its use of refund anticipation loans.
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Seagate agrees to buy Maxtor for $1.9B
Dec 21 2005 7:37PM (CT)
SAN JOSE, Calif. (AP) - Hard drives have long been unsung workhorses of the digital world _ best when they're quiet, fast and flawless. Competition among their suppliers, meantime, has been fierce.
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FedEx 2Q earnings beat Wall Street views
Dec 21 2005 7:32PM (CT)
MEMPHIS, Tenn. (AP) - FedEx Corp. said Wednesday its second-quarter profit jumped 33 percent, easily beating Wall Street's predictions and its own. FedEx stock rose to a new 52-week high on the earnings report.
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Investment co. buys site of old Kmart HQ
Dec 21 2005 7:28PM (CT)
TROY, Mich. (AP) - An investment company has bought the site of the former Kmart headquarters and plans to develop it as a mixed-use "urban village."
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IBM to buy Micromuse for $865M in cash
Dec 21 2005 6:06PM (CT)
ARMONK, N.Y. (AP) - International Business Machines Corp. said Wednesday it agreed to acquire Micromuse Inc., which makes software that manages video and voice traffic on computer networks, for about $865 million in cash.
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FDA approves use of Tamiflu for children
Dec 21 2005 6:03PM (CT)
WASHINGTON (AP) - The Food and Drug Administration has approved the use of Roche Holding AG's Tamiflu to prevent flu in children as young as a year old, the company said Wednesday.
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IMF clears debt relief for 19 countries
Dec 21 2005 5:50PM (CT)
WASHINGTON (AP) - The International Monetary Fund on Wednesday gave approval for $3.3 billion of debt relief for 19 of the world's poorest countries and predicted that a 20th nation, Mauritania, would qualify for the relief in a matter of weeks.
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GM stock down on Kerkorian sale of shares
Dec 21 2005 5:44PM (CT)
DETROIT (AP) - General Motors Corp. shares, which have lost more than half their value since the beginning of the year, fell an additional 4 percent Wednesday as investors fretted about billionaire Kirk Kerkorian's decision to sell part of his stake in the automaker.
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Eli Lilly to pay $36M to settle charges
Dec 21 2005 5:33PM (CT)
INDIANAPOLIS (AP) - Eli Lilly and Co. said Wednesday it has agreed to plead guilty to a federal misdemeanor and pay $36 million to settle charges that it illegally marketed and promoted its Evista osteoporosis drug for two unapproved uses.
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Ohio approves Duke takeover of Cinergy
Dec 21 2005 5:29PM (CT)
COLUMBUS, Ohio (AP) - Regulators in Ohio added their approval Wednesday to the $9 billion takeover of Cincinnati-based Cinergy Corp. by Duke Energy Corp.
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Bond prices end lower; yield gap flattens
Dec 21 2005 5:23PM (CT)
NEW YORK (AP) - U.S. government bonds weakened Wednesday as New York trade wound down, and the gap between yields on shorter- and longer-dated maturities continued to narrow.
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Delphi: Holders unlikely to get anything
Dec 21 2005 5:21PM (CT)
WASHINGTON (AP) - Delphi Corp. said Wednesday in a regulatory filing that a shareholder request to form an equity committee in its bankruptcy case is "premature" and that it's "highly unlikely" that holders of common shares will receive anything in the reorganization.
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Wednesday's commodities roundup
Dec 21 2005 5:19PM (CT)
NEW YORK (AP) - Gold retained its nervous and volatile tone Wednesday on the New York Mercantile Exchange as it dipped to a fresh monthly low and was unable to recover by the close.
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Calpine took long road into bankruptcy
Dec 21 2005 5:16PM (CT)
SAN FRANCISCO (AP) - Calpine Corp.'s convoluted descent into bankruptcy, culminating in a Chapter 11 filing late Tuesday night, began when the future still looked bright for the power merchant.
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CRM, Pixelplus IPOs have subdued debuts
Dec 21 2005 5:10PM (CT)
WASHINGTON (AP) - Insurance services company CRM Holdings Ltd. and semiconductor designer Pixelplus Co. had subdued debuts on the stock market Wednesday.
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CarMax 3Q profit up 46 percent to $26.4M
Dec 21 2005 5:07PM (CT)
NEW YORK (AP) - Used-car dealer CarMax Inc. on Wednesday posted a 46 percent jump in profit for its latest quarter, helped by improved store traffic, and people replacing cars destroyed by Hurricane Katrina.
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Oil prices settle at $58.56 per barrel
Dec 21 2005 5:03PM (CT)
WASHINGTON (AP) - Crude-oil prices rose Wednesday morning after the U.S. government's weekly petroleum report showed a decline in domestic inventories of distillate fuel, which include heating oil and diesel.
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Red Hat 3Q profit soars to $23.2 million
Dec 21 2005 4:52PM (CT)
CHARLOTTE, N.C. (AP) - Surpassing Wall Street's expectations, Linux software distributor Red Hat Inc. reported third-quarter earnings Wednesday of $23.2 million, more than double from the same period a year ago.
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Texas expands lawsuit against Sony BMG
Dec 21 2005 4:47PM (CT)
AUSTIN, Texas (AP) - Texas Attorney General Greg Abbott expanded his lawsuit against Sony BMG Music Entertainment on Wednesday, alleging that a second form of anti-piracy technology used by the label violates the state's spyware and deceptive trade practices laws.
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SEC files suit against HMC International
Dec 21 2005 4:46PM (CT)
WASHINGTON (AP) - The Securities and Exchange Commission on Wednesday moved to stop what it called an ongoing fraud at hedge fund HMC International LLC orchestrated by manager Robert Massimi and the fund's top trader, Bret Grebow.
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Thomas Lee to leave private equity firm
Dec 21 2005 4:43PM (CT)
BOSTON (AP) - Thomas H. Lee plans to leave the $12 billion private equity firm he started 31 years ago to launch a New York-based investment fund, the company said Wednesday.
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Palm shares up after 2Q results top views
Dec 21 2005 4:40PM (CT)
SAN JOSE, Calif. (AP) - Shares of Palm Inc. rose more than 3 percent Wednesday after the company 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.
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UnitedHealth gets OK to buy PacifiCare
Dec 21 2005 4:37PM (CT)
MINNEAPOLIS (AP) - UnitedHealth Group Inc. has received final regulatory approval for its $9.2 billion purchase of PacifiCare Health Systems, the health insurer said Wednesday.
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Bank of America plans to issue AmEx cards
Dec 21 2005 4:28PM (CT)
CHARLOTTE, N.C. (AP) - Bank of America Corp.'s plans to issue American Express-branded credit cards should bolster the bank's efforts to attract new customers while retaining more affluent ones, Chief Executive Ken Lewis said Wednesday.
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Wavecom shares fall on lower 4Q forecast
Dec 21 2005 4:25PM (CT)
NEW YORK (AP) - The stock of Wavecom SA fell sharply Wednesday after the French maker of components for cell phones lowered its fourth-quarter revenue estimates, citing the rescheduling of orders by customers.
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DaimlerChrysler reaches $94M settlement
Dec 21 2005 4:24PM (CT)
WASHINGTON (AP) - DaimlerChrysler AG reached a $94 million settlement with the government to repair defective emission controls on nearly 1.5 million Jeep and Dodge vehicles, federal officials said Wednesday.
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Firms fight Ohio agency's release of data
Dec 21 2005 3:59PM (CT)
COLUMBUS, Ohio (AP) - Dozens of private equity firms are fighting the release of a report by the state insurance fund for injured workers that the companies say contains trade secrets and other sensitive information.
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Italy coalition defends justice official
Dec 21 2005 3:55PM (CT)
ROME (AP) - Italy's Foreign Minister and other members of the center-right governing coalition defended one of their own Wednesday following reports in the Italian media that a member of the government was involved in an ever-widening bank takeover probe.
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Volkswagen to end air-cooled engine era
Dec 21 2005 3:52PM (CT)
SAO PAULO, Brazil (AP) - With their unique air-cooled engines sputtering to life, brand-new classic Volkswagen minivans chug off the assembly line after a manufacturing ritual barely changed since hippies turned the boxy vehicle into a counterculture icon.
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Morales to nationalize Bolivia oil, gas
Dec 21 2005 3:47PM (CT)
LA PAZ, Bolivia (AP) - The winner of Bolivia's presidential elections has repeated his vow to nationalize oil and gas and said he will void at least some contracts held by foreign companies "looting" the poor Andean nation's natural resources.
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Coca-Cola adopts severance deals policy
Dec 21 2005 3:37PM (CT)
ATLANTA (AP) - The Coca-Cola Co. has quietly heeded shareholders' demands that the world's largest beverage maker seek their approval before awarding big severance packages to executives who leave.
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Family Dollar shares jump on 1Q results
Dec 21 2005 3:05PM (CT)
AUSTIN, Texas (AP) - Family Dollar Stores Inc. stock rose Wednesday after the company reported solid results for the latest quarter.
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Fitch maintains Bolivia's credit rating
Dec 21 2005 2:50PM (CT)
NEW YORK (AP) - Fitch Ratings Wednesday kept Bolivia's credit rating unchanged, saying a government run by the country's likely new president, Evo Morales, could actually have a greater degree of legitimacy than its recent predecessors and lead to better governance.
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PacifiCorp president to leave co. in 2006
Dec 21 2005 2:46PM (CT)
PORTLAND, Ore. (AP) - PacifiCorp president and CEO Judi Johansen said Wednesday she plans to leave the electric utility in 2006 in anticipation of MidAmerican Energy Holdings Co.'s proposed $9.4 billion buyout of the Portland-based utility with customers in six Western states.
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UAL reports $187M net loss for November
Dec 21 2005 2:44PM (CT)
ELK GROVE VILLAGE, Ill. (AP) - United Airlines' parent company reported a $187 million net loss Wednesday for November, citing continuing reorganization charges and high fuel costs as its three-year bankruptcy overhaul draws to a finish.
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French judges search Thales headquarters
Dec 21 2005 2:35PM (CT)
PARIS (AP) - French judges searched the headquarters of Thales SA as part of a probe into charges of corruption at the French defense electronics firm, accused by a former employee of paying out millions of dollars in bribes, judicial officials said on Wednesday.
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U.S. Xpress up; outlook above expectations
Dec 21 2005 2:19PM (CT)
NEW YORK (AP) - Shares of U.S. Xpress Enterprises Inc. climbed Wednesday, after the trucking company forecast fourth-quarter results above Wall Street's expectations.
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Deadline moved back for Beverly sale
Dec 21 2005 1:51PM (CT)
FORT SMITH, Ark. (AP) - The deadline for closing the $1.8 billion sale of nursing home company Beverly Enterprises Inc. has been moved back a month to March 31, Beverly announced Wednesday.
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Chinese, Indian firms to buy oil assets
Dec 21 2005 1:46PM (CT)
BEIJING (AP) - The leading oil companies of China and India have agreed to jointly acquire a Canadian firm's petroleum interests in Syria in their first collaborative venture.
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Jeff Bewkes becomes COO of Time Warner
Dec 21 2005 1:25PM (CT)
NEW YORK (AP) - Former HBO chief Jeff Bewkes will become the sole chief operating officer of Time Warner Inc. when Don Logan, with whom he had shared the title of co-chief operating officer, retires at the end of the year, the company said Wednesday.
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Eagle Test Systems files for $115M IPO
Dec 21 2005 12:28PM (CT)
WASHINGTON (AP) - Eagle Test Systems Inc., which makes testing equipment for the semiconductor industry, has registered for an initial public offering worth up to $115 million, according to a filing with the Securities and Exchange Commission.
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Nike falls after future orders disappoint
Dec 21 2005 12:08PM (CT)
BEAVERTON, Ore. (AP) - Shares of Nike Inc. fell Wednesday after the world's largest athletic-shoe and clothing company reported future orders that fell short of expectations.
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Sara Lee delisting shares in Europe
Dec 21 2005 12:06PM (CT)
CHICAGO (AP) - Sara Lee Corp., manufacturer of food, drink, household and body-care products, said Wednesday it will delist its shares from several stock exchanges in Europe because of low trading volume.
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Xiamen Airlines orders 10 Boeing jets
Dec 21 2005 12:03PM (CT)
SEATTLE (AP) - Boeing Co. said Wednesday that it had completed a deal with Chinese carrier Xiamen Airlines to order 10 737-800s, setting a record for airplane sales.
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Top German banker faces retrial in case
Dec 21 2005 11:47AM (CT)
KARLSRUHE, Germany (AP) - A federal court ordered a retrial for Deutsche Bank CEO Josef Ackermann and five others on Wednesday over large payments to executives during Vodafone PLC's 2000 takeover of rival mobile phone company Mannesmann AG.
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Hyundai plans $94M expansion of R&D center
Dec 21 2005 11:47AM (CT)
DETROIT (AP) - South Korean automaker Hyundai Motor Co. plans to invest $94 million in its Michigan research and development center and add 600 more jobs in the next five or six years, according to state and Hyundai officials.
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Skandia: Old Mutual bid still inadequate
Dec 21 2005 11:28AM (CT)
STOCKHOLM, Sweden (AP) - Swedish insurer Skandia said Wednesday that it still believed Old Mutual's $5.9 billion (4.9 billion euro) hostile bid was inadequate but that it would start talks with the financial services company.
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Shell signs gas field development deal
Dec 21 2005 11:10AM (CT)
AMSTERDAM, Netherlands (AP) - Royal Dutch Shell PLC said Wednesday it has signed a deal with Qatar Petroleum to tap into the huge natural gas fields in the Persian Gulf, and is acquiring more pipeline capacity in the United States to channel the gas to the U.S. market.
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EU grants trade preferences to 11 nations
Dec 21 2005 9:22AM (CT)
BRUSSELS, Belgium (AP) - The European Union said Wednesday it had granted increased trading preferences to imports from 11 Latin American nations along with Moldova, Georgia, Mongolia and Sri Lanka.
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Germany's Linde agrees to buy Spectra
Dec 21 2005 9:02AM (CT)
BERLIN (AP) - German industrial group Linde AG said Wednesday it has agreed to buy U.S. specialty gases maker Spectra Gases Inc. from its founding family.
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Barclays opens branch in mainland China
Dec 21 2005 8:00AM (CT)
LONDON (AP) - British bank Barclays PLC said Wednesday that it has opened its first branch in mainland China, joining other foreign banks in the bid to profit from the country's rapid economic growth.
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Philips takes $500 million charge on unit
Dec 21 2005 7:51AM (CT)
AMSTERDAM, Netherlands (AP) - Royal Philips Electronics NV said Wednesday it would take a 418 million euro ($499.7 million) charge in the fourth quarter on its LG.Philips Displays LPD unit, which makes cathode-ray tubes.
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McKillop gets Royal Bank of Scotland post
Dec 21 2005 7:33AM (CT)
LONDON (AP) - The Royal Bank of Scotland Group PLC said Wednesday that it has appointed Tom McKillop, currently the bank's deputy chairman and chief executive of drug maker AstraZeneca PLC, as its new chairman.
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EU fines chemical cos. for rubber cartel
Dec 21 2005 6:47AM (CT)
BRUSSELS, Belgium (AP) - EU regulators fined three chemical companies 75.86 million euros ($91.2 million) for running a cartel to swap information and control the price of rubber chemicals used to make car tires.
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NTT DoCoMo takes stake in Fuji TV Network
Dec 21 2005 6:34AM (CT)
TOKYO (AP) - NTT DoCoMo Inc., Japan's largest mobile phone carrier, has agreed to take a 2.6 percent stake in Fuji Television Network Inc. as the two companies discuss digital broadcasting to mobile phones.
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Former Qwest CEO Joseph Nacchio indicted
Dec 21 2005 5:24AM (CT)
DENVER (AP) - Former Qwest Communications CEO Joseph Nacchio stands accused of illegally selling $101 million in stock. But after three years of investigation, he was just relieved to know the details of the government's case against him.
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Peach farmers paid to cut down trees
Dec 21 2005 4:04AM (CT)
FRESNO, Calif. (AP) - Canned peaches have been a cafeteria mainstay and part of the Central Valley's economy for decades. But with the market in the pits, government officials are paying farmers to tear down some of their trees.
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Nigerian pleads guilty in ID theft case
Dec 21 2005 1:08AM (CT)
LOS ANGELES (AP) - A Nigerian national pleaded guilty Tuesday to conspiracy and grand theft involving identity theft that authorities say was accomplished by accessing personal information stolen from consumer data collector ChoicePoint Inc.
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