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Pfizer's McKinnell to get $180M package
Dec 21 2006 10:52PM (CT)
NEW YORK (AP) - Pfizer Inc.'s former chief executive, Henry A. McKinnell, who was forced into an early retirement in part because of investor anger about his rich retirement benefits, will get every penny of it and more, a new regulatory filing shows.
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'Seinfeld' spurs Festivus pole sales
Dec 21 2006 9:06PM (CT)
MILWAUKEE (AP) - Kevin Campanella hates buying and receiving Christmas presents that he says inevitably disappoint. This year, no such worries. Campanella plans to seek "serenity now" by celebrating Festivus, a wacky holiday popularized in a 1997 "Seinfeld" episode.
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'Seinfeld' spurs Festivus pole sales
Dec 21 2006 9:06PM (CT)
MILWAUKEE (AP) - Kevin Campanella hates buying and receiving Christmas presents that he says inevitably disappoint. This year, no such worries. Campanella plans to seek "serenity now" by celebrating Festivus, a wacky holiday popularized in a 1997 "Seinfeld" episode.
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Japanese stocks retreat after high
Dec 21 2006 8:27PM (CT)
TOKYO (AP) - Japanese stocks retreated early Friday after hitting a fresh seven-month high the session before, as investors locked in profits and cued off losses on Wall Street. The dollar was lower against the yen.
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Stores seek to lure last-minute shoppers
Dec 21 2006 7:58PM (CT)
NEW YORK (AP) - The nation's retailers are pulling out all the stops to hit their holiday sales goals by expanding hours in the final days before Christmas and ratcheting up discounts.
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Raytheon to sell aircraft unit for $3.3B
Dec 21 2006 7:46PM (CT)
BOSTON (AP) - Defense contractor Raytheon Co. plans to sell its aircraft business for $3.3 billion to Hawker Beechcraft Corp., a new company formed by an affiliate of Goldman Sachs and Onex Partners.
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General Mills, ConAgra report solid 2Qs
Dec 21 2006 6:26PM (CT)
MINNEAPOLIS (AP) - Foodmakers General Mills and ConAgra both reported solid second-quarters and raised their guidance on Thursday, and Wall Street greeted them like comfort food on a cold winter day.
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US Airways: Delta's self-valuation high
Dec 21 2006 6:21PM (CT)
ATLANTA (AP) - Delta Air Lines' projection that it will be worth as much as $12 billion when it emerges from bankruptcy is "unrealistic," US Airways Chief Executive Doug Parker said Thursday as his company pushed ahead with its hostile bid to buy Delta.
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Fidelity to pay about $42M in gifts case
Dec 21 2006 6:18PM (CT)
BOSTON (AP) - Fidelity Investments announced Thursday that it will pay at least $42 million in penalties to its funds to clear allegations that its traders improperly steered business to brokerage firms that gave them travel, entertainment, gifts and gratuities.
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Hedge fund proposes $4.7B Delphi plan
Dec 21 2006 6:16PM (CT)
DETROIT (AP) - Delphi Corp. has caught the eye of two hedge funds that, flush with year-end cash, may be seeing a way to make a buck from the nation's largest auto parts supplier as it emerges from bankruptcy.
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Judge rules Comair can impose wage cuts
Dec 21 2006 6:13PM (CT)
CINCINNATI (AP) - A federal bankruptcy judge ruled Thursday that Delta Air Lines subsidiary Comair can impose wage cuts and changes in work rules for the regional airline's 1,500 pilots, the final holdouts in the airline's plan to trim labor costs as part of its restructuring.
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Rite Aid reports 3Q sales up 4 percent
Dec 21 2006 5:10PM (CT)
HARRISBURG, Pa. (AP) - Rite Aid Corp., the nation's third-largest drugstore chain, said Thursday that its third-quarter revenues rose 4 percent on stronger pharmacy sales, narrowing its loss from last year and barely squeezing ahead of Wall Street estimates.
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Vioxx award cut to $7.75M
Dec 21 2006 4:55PM (CT)
HARLINGEN, Texas (AP) - A judge in a Texas widow's lawsuit over the Merck & Co. drug Vioxx on Thursday reduced a $32 million jury award to about $7.75 million so that it conformed to state law.
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Bristol-Myers agrees to $499M settlement
Dec 21 2006 3:57PM (CT)
NEW YORK (AP) - Bristol-Myers Squibb Co. offered to pay $499 million to settle federal investigations into whether the company played a role in a pricing scheme that led insurers and government agencies to overpay for drugs. The company reduced its profit forecast to reflect the charges.
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Gazprom gains control of Sakhalin-2
Dec 21 2006 2:50PM (CT)
MOSCOW (AP) - Russia's state-controlled natural gas monopoly wrested control of the country's largest single foreign investment from Shell on Thursday, taking a majority stake in the Sakhalin-2 project for $7.45 billion in a deal that consolidates the Kremlin's command over national energy resources.
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Leading index up 0.1 pct in November
Dec 21 2006 11:23AM (CT)
NEW YORK (AP) - A gauge of future economic activity advanced 0.1 percent in November, suggesting that the U.S. economy will continue to expand modestly in coming months, an industry-backed research group said Thursday.
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Bank agreement targets money launderers
Dec 21 2006 10:52AM (CT)
WASHINGTON (AP) - Banking regulators announced an agreement Thursday with a Pakistani-based bank to bolster policies aimed at detecting abuse by money launderers, terrorist financiers and other criminals.
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Stocks wander in light trading
Dec 21 2006 10:46AM (CT)
NEW YORK (AP) - Stocks meandered in light trading ahead of the holiday weekend as investors tried to reconcile a handful of robust corporate profit reports with news that the economy grew at a weaker-than-expected pace in the third quarter.
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American Greetings 3Q earnings soar
Dec 21 2006 10:34AM (CT)
CLEVELAND (AP) - Greeting-card maker American Greetings Corp. on Thursday said its third-quarter earnings rose sharply, helped by a one-time gain from the consolidation of some its retailers. Its shares jumped on the news.
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American Greetings 3Q earnings soar
Dec 21 2006 10:34AM (CT)
CLEVELAND (AP) - Greeting-card maker American Greetings Corp. on Thursday said its third-quarter earnings rose sharply, helped by a one-time gain from the consolidation of some its retailers. Its shares jumped on the news.
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ConAgra 2Q profit up 44 percent
Dec 21 2006 9:17AM (CT)
OMAHA, Neb. (AP) - Second-quarter profit jumped 44 percent for packaged-food company ConAgra Foods Inc. as the maker of Healthy Choice meals sold off business units and improved margins. The company also boosted its outlook for the entire fiscal year.
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Fog strands thousands at Heathrow
Dec 21 2006 7:59AM (CT)
LONDON (AP) - Tens of thousands of passengers were stranded Thursday after a thick blanket of freezing fog forced hundreds of flights to be canceled at Heathrow, Europe's busiest airport.
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Fog strands thousands at Heathrow
Dec 21 2006 7:59AM (CT)
LONDON (AP) - Tens of thousands of passengers were stranded Thursday after a thick blanket of freezing fog forced hundreds of flights to be canceled at Heathrow, Europe's busiest airport.
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General Mills 2Q profit rises 4 percent
Dec 21 2006 7:57AM (CT)
MINNEAPOLIS (AP) - General Mills Inc. said second-quarter profit rose 4 percent on solid growth across its businesses, good enough to prompt the maker of Wheaties cereal and Yoplait yogurt to raise its guidance for the rest of the year.
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Stronger sales lift Nike 2Q profit 8 pct
Dec 21 2006 7:55AM (CT)
BEAVERTON, Ore. (AP) - A tax break from the Dutch, surging demand in China and the enduring popularity of another shoe brand now owned by Nike Inc. all helped the world's largest athletic shoe and clothing company boost profit in its second quarter.
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Oil prices fall on U.S. supply data
Dec 21 2006 7:39AM (CT)
VIENNA, Austria (AP) - Oil prices fell Thursday after U.S. weekly petroleum supply data showed an increase in inventories of gasoline and distillate fuels, including heating oil.
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Japanese optics maker Hoya to buy Pentax
Dec 21 2006 5:58AM (CT)
TOKYO (AP) - Japanese optics maker Hoya said Thursday it has agreed to buy camera maker Pentax in a stock swap estimated at 91 billion yen, or $771 million, giving the glass maker access to digital imaging technology.
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Drought took its toll on Texas in 2006
Dec 21 2006 4:51AM (CT)
LUBBOCK, Texas (AP) - Texans are about to bid farewell to a dry, hot year that had the nation's No. 2 agriculture state reeling from the worst single-year losses for crops and livestock.
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Delta creditors weighing options
Dec 21 2006 1:05AM (CT)
ATLANTA (AP) - The unsecured creditors committee in Delta Air Lines' bankruptcy case is hedging its bet. A key player in deciding the carrier's fate, the committee said it supports Delta's decision to file its stand-alone reorganization plan, but that it also will weigh alternatives.
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