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Stores seek shoppers, slash prices again
Dec 26 2006 10:41PM (CT)
NEW YORK (AP) - Retailers regrouped Tuesday, hoping that after-Christmas shopping would help them make up for a holiday season that fell short of expectations, while their customers were back in the stores looking for deeper and deeper discounts. With mounds of unsold winter clothes to move out, retailers were further slashing already heavily marked-down goods _ a typical response to a less-than-satisfactory season.
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Countries face U.S. financial sanctions
Dec 26 2006 10:16PM (CT)
WASHINGTON (AP) - Frustrated over languishing diplomatic campaigns against Iran and North Korea, U.S. officials are finding their backup strategy of financial sanctions has been surprisingly effective against those remaining members of President Bush's "axis of evil."
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Star Tribune to be sold to private group
Dec 26 2006 10:15PM (CT)
MINNEAPOLIS (AP) - Newspaper publisher The McClatchy Co. said on Tuesday that it will sell its flagship Star Tribune to the private equity firm Avista Capital Partners for $530 million, a sharp drop from the $1.2 billion it paid to acquire the newspaper just eight years ago.
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Business 2006: Who Won, Who Lost
Dec 26 2006 5:42PM (CT)
NEW YORK (AP) - Before 2006, if someone in the business world mentioned "backdated options," you'd be forgiven for thinking they were making a joke about Steve Jobs' necktie collection.
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SEC begins probe into UnitedHealth Group
Dec 26 2006 5:13PM (CT)
NEW YORK (AP) - UnitedHealth Group Inc., the country's second-largest health insurer behind WellPoint Inc., said Tuesday that federal regulators have begun a formal investigation into its historical stock options practices.
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Russia threatens gas shut-off in Belarus
Dec 26 2006 4:54PM (CT)
MINSK, Belarus (AP) - Residents of Belarus' capital stocked up on warm clothes and electric heaters as fears rose Tuesday that Russia is about to cut off the natural gas on which the country depends.
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Tyson executives miss bonuses on loss
Dec 26 2006 3:32PM (CT)
SPRINGDALE, Ark. (AP) - Because Tyson Foods Inc. failed to achieve earnings targets in its most recently completed fiscal year, senior executives will miss out on bonuses that totaled more than $5 million last year, the company said Tuesday.
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Home prices growth slowest since 1997
Dec 26 2006 3:09PM (CT)
NEW YORK (AP) - Prices of single-family homes across the nation rose in October at the slowest rate in almost a decade, a housing index released Tuesday by Standard & Poor's showed, giving more evidence of the housing market's deceleration, which has affected many parts of the broader economy.
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Ford auto workers weigh buyout options
Dec 26 2006 3:09PM (CT)
DETROIT (AP) - Scott Swiercz smoked a cigarette and drank a beer at The Final Score lounge, mulling the biggest gamble of his life. Ford Motor Co. had offered him and its 75,000 other U.S. hourly workers a choice of buyout packages.
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Collectors find new ways to store wine
Dec 26 2006 2:30PM (CT)
JERSEY CITY, N.J. (AP) - As wine becomes a more popular American hobby, some collectors find they just don't have enough space to store their cases of Bordeaux and California cabernet.
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Manufacturing forecast to slow in 2007
Dec 26 2006 1:23PM (CT)
WASHINGTON (AP) - A trade group representing the nation's manufacturers on Tuesday predicted a soft landing for the U.S. economy in 2007, despite expectations that residential real estate will act as a drag on growth.
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Belarus-Gazprom gas talks reach impasse
Dec 26 2006 11:02AM (CT)
MOSCOW (AP) - Talks on Tuesday between Belarus and the Russian state gas monopoly on Russia's demand for a price increase brought no resolution and a top company official said Belarus could face a New Year's gas cutoff.
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Tokyo stock prices hit 7-month high
Dec 26 2006 8:29AM (CT)
HONG KONG (AP) - Stock prices in Tokyo hit a seven-month high Tuesday, Shanghai set a new record and Taipei advanced to a six-year high, but other Asian markets saw little movement as traders took time out for the Christmas holiday.
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Best Buy opens first China outlet
Dec 26 2006 6:40AM (CT)
SHANGHAI, China (AP) - Consumer electronics retailer Best Buy is opening its first outlet in China, teaming up with a local partner to tackle the hyper-competitive market for gadgets and appliances.
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China unveils auto investment curbs
Dec 26 2006 6:39AM (CT)
BEIJING (AP) - China announced curbs Tuesday on surging investment in its auto industry, extending controls already imposed in other fields in an effort to cool off an economic boom that Beijing worries could ignite a financial crisis.
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China detains chairman of oil company
Dec 26 2006 6:38AM (CT)
SHANGHAI, China (AP) - The chairman of a Chinese private oil company association has been detained for suspected economic crimes, a company controlled by the tycoon said Tuesday.
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Personalized bobbleheads getting a nod
Dec 26 2006 5:42AM (CT)
DES MOINES, Iowa (AP) - Ralph Trumbo is neither an athlete nor a celebrity. Nevertheless, he has a bobblehead likeness of himself sitting on his mantle.
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