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Court cuts Valdez judgment against Exxon
Dec 22 2006 11:09PM (CT)
SAN FRANCISCO (AP) - A federal appeals court on Friday cut in half a $5 billion jury award for punitive damages against Exxon Mobil Corp. in the 1989 Valdez oil spill that smeared black goo across roughly 1,500 miles of Alaskan coastline.
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Regulators to pay Gemstar shareholders
Dec 22 2006 9:44PM (CT)
LOS ANGELES (AP) - Federal regulators will soon begin giving $83 million in cash and stock to shareholders of Gemstar-TV Guide International Inc. who were harmed by a suspected scheme to inflate revenues to meet financial targets.
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Goodyear, strikers reach tentative deal
Dec 22 2006 9:42PM (CT)
CLEVELAND (AP) - Goodyear Tire & Rubber Co. and a union representing about 12,600 active union workers in the United States tentatively agreed Friday to a contract that would end an 11-week strike over health care benefits and Goodyear's plan to close a tire factory in Texas.
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Target pulls Che Guevara CD cases
Dec 22 2006 7:02PM (CT)
MINNEAPOLIS (AP) - Target Corp. said it had pulled a compact disc case that had a photo of Latin American revolutionary Che Guevara after some customers complained.
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Judge rules for Caremark on bid review
Dec 22 2006 7:00PM (CT)
NASHVILLE, Tenn. (AP) - Shareholders who claim that Caremark Rx Inc. insiders are looking out for themselves instead of general stock owners by pursuing a merger deal with CVS Corp. lost a bid Friday to get a judge to order the company to consider a hostile buyout bid by rival Express Scripts Inc.
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Macy's pulls Sean John hooded jackets
Dec 22 2006 6:24PM (CT)
NEW YORK (AP) - Macy's has pulled from its shelves and its Web site two styles of Sean John hooded jackets, originally advertised as featuring faux fur, after an investigation by the nation's largest animal protection organization concluded that the garments were actually made from a certain species of dog called "raccoon dog."
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Midwest hires Goldman, Sachs & Co.
Dec 22 2006 6:21PM (CT)
MILWAUKEE (AP) - Midwest Air Group Inc. said Friday it has hired Goldman, Sachs & Co. as a financial adviser in the wake of the regional airline's decision to reject a takeover bid by rival AirTran Airways.
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El Paso Corp. sells assets for $3.39B
Dec 22 2006 5:37PM (CT)
HOUSTON (AP) - El Paso Corp., the nation's largest natural gas pipeline company, said Friday it has sold a pipeline subsidiary and storage facilities to TransCanada Corp. and TC PipeLines LP for about $3.39 billion.
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Krispy Kreme 1Q loss narrows
Dec 22 2006 3:49PM (CT)
NEW YORK (AP) - Doughnut maker Krispy Kreme Doughnuts Inc. Friday filed its long-delayed quarterly report with regulators and said its loss in the fiscal first-quarter narrowed in the absence of hefty charges.
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Krispy Kreme 1Q loss narrows
Dec 22 2006 3:49PM (CT)
NEW YORK (AP) - Doughnut maker Krispy Kreme Doughnuts Inc. Friday filed its long-delayed quarterly report with regulators and said its loss in the fiscal first-quarter narrowed in the absence of hefty charges.
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Oil prices slip, hold above $62 a barrel
Dec 22 2006 2:52PM (CT)
WASHINGTON (AP) - Oil prices fell in light pre-holiday trading Friday, but held above $62 a barrel as brokers weighed slower economic growth and expectations of a mild winter against OPEC's determination to tighten worldwide supplies.
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Murdoch, Malone end feud; swap DirecTV
Dec 22 2006 1:24PM (CT)
NEW YORK (AP) - Three days before Christmas, two of the most powerful men in the media business, Rupert Murdoch and John Malone, formally ended a long-running feud.
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Murdoch, Malone end feud; swap DirecTV
Dec 22 2006 1:24PM (CT)
NEW YORK (AP) - Three days before Christmas, two of the most powerful men in the media business, Rupert Murdoch and John Malone, formally ended a long-running feud.
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Walgreen 1Q profit surges 25 percent
Dec 22 2006 1:03PM (CT)
CHICAGO (AP) - Walgreen Co., the nation's biggest drugstore chain by revenue, reported better-than-expected first-quarter profits Friday as sales surged 17 percent on strong results from prescription drugs.
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Creditors urge Delta to weigh options
Dec 22 2006 12:50PM (CT)
ATLANTA (AP) - Seventeen creditors who hold $2.25 billion in unsecured claims against Delta Air Lines Inc. in its bankruptcy case urged the carrier Friday to consider alternatives to its stand-alone reorganization plan.
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Denver airport operations to open slowly
Dec 22 2006 12:36PM (CT)
WASHINGTON (AP) - Authorities at Denver International Airport plan to get 100 aircraft off the ground within an hour of opening two runways Friday afternoon and may be able to resume normal operations by the end of the holiday weekend, a Southwest Airlines executive said.
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Vodafone eyes India telecom Hutch Essar
Dec 22 2006 8:54AM (CT)
LONDON (AP) - Vodafone Group PLC, the world's largest mobile phone company, said Friday it is considering taking a controlling interest in Hutchison Essar Ltd., raising the possibility of a bidding war for the Indian mobile phone operator.
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Korea rejects U.S. beef shipment
Dec 22 2006 8:50AM (CT)
SEOUL, South Korea (AP) - South Korea has rejected the latest shipment of U.S. beef and asked Washington to explain why it contained unacceptible levels of the toxic chemical dioxin, a governent official said Friday.
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Siemens corruption suspects released
Dec 22 2006 8:09AM (CT)
MUNICH, Germany (AP) - Six suspects in a corruption probe of German electronics company Siemens AG have been released from custody after providing evidence that supports the allegations against them, prosecutors said Friday.
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Cotton industry concerned over weed
Dec 22 2006 2:30AM (CT)
TIFTON, Ga. (AP) - The cotton industry is concerned about a herbicide-resistant weed that spreads easily, can grow an inch a day and could force farmers to return to growing methods that were harsher on the environment.
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Caremark shareholders fight CVS deal
Dec 22 2006 1:01AM (CT)
NASHVILLE, Tenn. (AP) - A group of shareholders in pharmacy benefits manager Caremark Rx Inc. has filed for an injunction to force company officials to consider a proposed buyout by rival Express Scripts Inc. that could pay more than an offer from CVS Corp.
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Air America station to stay in Madison
Dec 22 2006 1:00AM (CT)
MADISON, Wis. (AP) - After a backlash from this liberal city, Clear Channel Radio is keeping its Air America affiliate on the air instead of switching the progressive talk format to sports on Jan. 1.
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Red Hat 3Q profit drops but beats views
Dec 22 2006 12:09AM (CT)
RALEIGH, N.C. (AP) - Stock-compensation expenses cut into profits for the second consecutive quarter for Red Hat Inc., but the company again exceeded analysts' expectations.
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