NYT > Business (66 unread)
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Advertising: In This Corner, New Products From George Foreman
Posted: July 23rd, 2008, 11:55pm EDT by By STEPHANIE CLIFFORD
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The former boxing champion is out to sell his name once again, pitching more products and starring in a reality series.
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The Energy Challenge: Gassing Up With Garbage
Posted: July 23rd, 2008, 11:54pm EDT by By MATTHEW L. WALD
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After years of false starts, a new industry selling motor fuel made from waste is getting a big push in the U.S., with the first commercial sales possible within months.
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Everything’s Fine! My T-Shirt Says So.
Posted: July 23rd, 2008, 11:48pm EDT by By ERIC WILSON
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Life is good T-shirts have caught on among people who feel the products are spreading a positive message in a troubled world.
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In Settlement, Nokia Will Pay Royalties to Qualcomm
Posted: July 23rd, 2008, 11:44pm EDT by By MATT RICHTEL
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Under the terms of the agreement, Nokia can use all of Qualcomm’s patents in its mobile phones and network equipment, and in return it agreed not to use its patents against Qualcomm.
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Profit at McDonald’s
Posted: July 23rd, 2008, 11:44pm EDT by By THE ASSOCIATED PRESS
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McDonald’s earned $1.19 billion, including a gain from the sale of its stake in the sandwich chain Pret A Manger, solidly topping Wall Street estimates.
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Merger of XM and Sirius Appears Close to Approval
Posted: July 23rd, 2008, 11:42pm EDT by By TIM ARANGO
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F.C.C. approval of the union would end a nearly 18-month government review of a deal that would essentially create a monopoly in satellite radio.
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Health Insurer’s Profit Falls, but Stock Rises
Posted: July 23rd, 2008, 11:40pm EDT by By THE ASSOCIATED PRESS
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The company reported a second-quarter profit of $750.5 million, or $1.44 a share, for the three months that ended June 30. Revenue edged up 3 percent, to $15.67 billion.
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Glaxo, Pfizer and Wyeth Exceed Wall Street’s Expectations
Posted: July 23rd, 2008, 11:39pm EDT by By REUTERS
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Although all three firms face major threats from generic competition, results show that demand for medicines is holding up well at a time of economic downturn.
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Fed Report Says Economy Continued to Slow
Posted: July 23rd, 2008, 11:39pm EDT by By MICHAEL M. GRYNBAUM
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The Fed’s “beige book” report showed that the country slogged through slower economic growth and rising prices during the summer.
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Strong Quarter for Sales at Amazon
Posted: July 23rd, 2008, 11:37pm EDT by By LAURIE J. FLYNN
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The online retailer Amazon.com reported that net income for the second quarter more than doubled on strong sales.
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Kremlin Rules: An Investment Gets Trapped in Kremlin’s Vise
Posted: July 23rd, 2008, 11:37pm EDT by By CLIFFORD J. LEVY
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The fall of one of Russia’s most prominent foreign investors points to the official corruption that afflicts the country.
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House Passes Housing Bill After Bush Says He Will Sign It
Posted: July 23rd, 2008, 11:36pm EDT by By DAVID M. HERSZENHORN
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Citing the need to restore confidence in the mortgage giants Fannie Mae and Freddie Mac, the president said he would set aside his objections to the legislation.
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Complaints Undermine Hip Device
Posted: July 23rd, 2008, 11:34pm EDT by By BARRY MEIER
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Zimmer Holdings, the nation’s biggest producer of orthopedic devices, says it will suspend sales of an artificial hip component that some doctors have complained was failing at a high rate.
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Oil Survey Says Arctic Has Riches
Posted: July 23rd, 2008, 11:31pm EDT by By JAD MOUAWAD
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The Arctic Circle holds enough recoverable oil supplies to meet current world demand for nearly three years, according to a new U.S. Geological Survey forecast.
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State of the Art: Big Sensor A Small Step For Cameras
Posted: July 23rd, 2008, 11:28pm EDT by By DAVID POGUE
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Sigma develops a compact camera with a huge sensor. Let the euphoria begin? Not so fast...
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For Ford, the Road Ahead Is Full of Smaller Cars
Posted: July 23rd, 2008, 11:28pm EDT by By BILL VLASIC
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With gas at $4, Ford is redirecting billions of dollars to build more small cars in a move that Alan R. Mulally, Ford’s chief, hopes will help the automaker thrive, not just survive.
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New Tool From Facebook Extends Its Web Presence
Posted: July 23rd, 2008, 11:24pm EDT by By BRAD STONE
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At its annual conference for developers, the company announced Facebook Connect, a way that other Web sites can integrate parts of Facebook’s service.
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SNY Teams Up With Big East
Posted: July 23rd, 2008, 11:24pm EDT by By RICHARD SANDOMIR
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SportsNet New York will carry Big East football and basketball for the next five years in a deal that gives the conference a major TV presence in the region.
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ConocoPhillips Earnings Set Record, but Lag Forecast
Posted: July 23rd, 2008, 11:11pm EDT by By REUTERS
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The oil company said that profit rose 13 percent from last year, excluding a $4.5 billion charge taken in the year-earlier quarter related to Venezuela’s takeover of Conoco’s operations there.
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Shifting Careers: Venture Financing With a Mission Beyond Profit
Posted: July 23rd, 2008, 11:10pm EDT by By MARCI ALBOHER
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Ray Leach leads a nonprofit called Jumpstart that aims to boost growth in the Cleveland area by providing seed money to promising local ventures.
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Profit at General Dynamics Increases 25%
Posted: July 23rd, 2008, 11:10pm EDT by By REUTERS
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General Dynamics reported a 25 percent rise in quarterly profit on Wednesday, helped by strong sales of its combat systems and business jets.
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Head of Microsoft’s Online Efforts Departs
Posted: July 23rd, 2008, 11:06pm EDT by By STEVE LOHR
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Kevin Johnson’s exit comes as Steven A. Ballmer, Microsoft’s chief executive, is shaking up top-level staff in a bid to improve Microsoft’s Internet search and ad business.
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Delayed Plane Lowers Boeing’s Profit
Posted: July 23rd, 2008, 11:05pm EDT by By REUTERS
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The aircraft maker held to its financial forecasts for this year and next, citing strong global demand for its commercial planes and military equipment.
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Global Growth Helps Improve PepsiCo Results
Posted: July 23rd, 2008, 11:05pm EDT by By THE ASSOCIATED PRESS
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U.S. sales of Pepesico’s soft drinks sagged, but growth in its international and Frito-Lay snack businesses led the company to a 9 percent rise in second-quarter profit.
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Reports Find Errors and Fraud in Small Business Administration Contracts
Posted: July 23rd, 2008, 11:05pm EDT by By ELIZABETH OLSON
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Millions of dollars in federal contracts intended for small businesses reportedly were awarded to companies that had not qualified or had won the contracts fraudulently.
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Earnings Decline at the Times Company
Posted: July 23rd, 2008, 11:05pm EDT by By RICHARD PÉREZ-PEÑA
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Earnings for The New York Times Company were flat after one-time gains, and the company announced price increases for its flagship newspaper.
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Northwest Airlines Reports a $377 Million Loss
Posted: July 23rd, 2008, 11:03pm EDT by By THE ASSOCIATED PRESS
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Northwest Airlines, which plans to cut flights through the end of the year, could shrink more and keep raising fares if fuel prices do not come down, its chief executive said.
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Anheuser’s Profit Rises, Helped by Price Increases
Posted: July 23rd, 2008, 10:59pm EDT by By REUTERS
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Anheuser-Busch, which has agreed to be acquired by a rival Belgian brewery, InBev, reported higher quarterly profit, helped by price increases and sales of Bud Light Lime.
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Hershey Reports Sharply Higher Profit
Posted: July 23rd, 2008, 10:57pm EDT by By THE ASSOCIATED PRESS
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Hershey said it earned $41.5 million, or 18 cents a share, for the three months that ended June 29, compared with last year’s second-quarter profit of $3.6 million, or a penny a share.
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Whirlpool’s Profit Falls, but Beats Expectations
Posted: July 23rd, 2008, 10:57pm EDT by By THE ASSOCIATED PRESS
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Whirlpool said profit in the quarter was $117 million, or $1.53 a share, compared with $161 million, or $2 a share, in the period a year ago.
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Toyota Ahead of G.M. in Auto Sales
Posted: July 23rd, 2008, 9:57pm EDT by By NICK BUNKLEY
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Based on sales for the first half of 2008, Toyota appears to be on its way to surpassing G.M. as the largest automaker.
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Sidney Craig, 76, a Founder of Jenny Craig, Dies
Posted: July 23rd, 2008, 9:35pm EDT by By DENNIS HEVESI
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Craig, with his wife, Genevieve, founded Jenny Craig Inc., a successful weight-loss chain operating 600 centers in four countries.
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Stocks & Bonds: Drop in Oil Prices Helps to Ease Anxiety
Posted: July 23rd, 2008, 9:29pm EDT by By THE ASSOCIATED PRESS
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Stocks advanced for the second consecutive session Wednesday as another decline in oil prices and upbeat profit reports eased Wall Street’s worries about the economy.
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Earnings Rose at AT&T, but Revenue Misses Forecast
Posted: July 23rd, 2008, 8:17pm EDT by By THE ASSOCIATED PRESS
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AT&T said its second-quarter earnings rose 30 percent, but its revenue missed analysts’ estimates.
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EMC Profit Rises on Overseas Growth
Posted: July 23rd, 2008, 6:23pm EDT by By REUTERS
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EMC, the world’s biggest maker of corporate storage equipment, posted higher profit as international sales grew 27 percent and U.S. sales rose 10 percent.
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Auto Parts Maker Warily Embraces Offer From Rival
Posted: July 23rd, 2008, 3:52pm EDT by By CARTER DOUGHERTY
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The German auto parts giant Continental warily embraced a takeover approach from the Schaeffler Group, but it rejected the current offer as inadequate.
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Diesel Owner Adds Viktor & Rolf to Portfolio
Posted: July 23rd, 2008, 2:22pm EDT by By SUZY MENKES
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In a move that makes him the emperor of designer cool, Renzo Rosso, the owner of Diesel and of hip young denim brands, has taken a controlling stake in Viktor & Rolf, the label of the Dutchmen Viktor Horsting and Rolf Snoeren.
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Costco Lowers Outlook, Citing Energy Costs
Posted: July 23rd, 2008, 10:57am EDT by By THE ASSOCIATED PRESS
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The warehouse retailer said its profit would miss Wall Street expectations and that it planned to expand its stock repurchase plan by $1 billion.
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Pricing, Weaker Dollar Lift Philip Morris
Posted: July 23rd, 2008, 10:00am EDT by By THE ASSOCIATED PRESS
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Philip Morris International says net income rose 23 percent to $1.8 billion, boosted by higher prices and a weaker dollar.
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Peabody Profit Jumps, Beats Forecasts
Posted: July 23rd, 2008, 9:40am EDT by By REUTERS
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NEW YORK (Reuters) - Coal producer Peabody Energy Corp said on Wednesday its second-quarter profit more than doubled, easily beating Wall Street forecasts, as soaring global demand drove prices higher.
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Travelers Profit Down Due to Fewer Premiums
Posted: July 23rd, 2008, 9:36am EDT by By THE ASSOCIATED PRESS
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SAINT PAUL, Minn. (AP) -- Property casualty insurer The Travelers Cos. says its second-quarter profit declined as it wrote fewer premiums, took higher catastrophe losses and recorded fewer investment gains.
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To Starbucks, a Closing; To Newark, a Trauma
Posted: July 23rd, 2008, 2:19am EDT by By KAREEM FAHIM
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The planned closing of a Starbucks in Newark pains those who saw it as a welcome sign of normalcy.
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Woes Afflicting Mortgage Giants Raise Loan Rates
Posted: July 23rd, 2008, 1:27am EDT by By VIKAS BAJAJ
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The troubles at Fannie Mae and Freddie Mac could deal another blow to the housing market, as higher interest rates make it harder to refinance existing debts.
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Bank Investors Redefine Bad News
Posted: July 23rd, 2008, 1:20am EDT by By ERIC DASH
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Results that would have once been viewed as disastrous are now seen as good, even great, by some.
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U.S. Offers a Subsidy Concession at Trade Talks
Posted: July 23rd, 2008, 12:53am EDT by By THE ASSOCIATED PRESS
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In global trade talks, the United States offered to cut $1.4 billion more in subsidies to American farmers than in its previous offer.
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A Mortgage Rescue Strains Calculations
Posted: July 23rd, 2008, 12:52am EDT by By DAVID M. HERSZENHORN
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The Congressional Budget Office said a proposed rescue of Fannie Mae and Freddie Mac could appear on the federal budget as a $25 billion cost to taxpayers, but the figure is, at best, a rough estimate.
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Vodafone Cuts Revenue Forecast
Posted: July 23rd, 2008, 12:51am EDT by By DAVID JOLLY
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Vodafone, the world’s largest cellphone operator, said it was cutting its revenue forecast for the year to around $79.6 billion, the lower end of its previous estimate.
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Uprising Against the Ethanol Mandate
Posted: July 23rd, 2008, 12:47am EDT by By DAVID STREITFELD
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The Texas governor is leading a coalition seeking to waive the federal ethanol mandate because of costly grain.
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Building’s Sale at a Loss Reflects Market Travails
Posted: July 23rd, 2008, 12:39am EDT by By TERRY PRISTIN
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The office building at 1372 Broadway is changing hands at a loss of $41 million compared to its sales price a year ago.
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Stocks and Bonds: Stocks Surge as Investors Cheer Drop in Oil Prices
Posted: July 23rd, 2008, 12:30am EDT by By MICHAEL M. GRYNBAUM
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A modest rally on Wall Street accelerated in late trading on Tuesday, as another steep drop in oil prices sent the Dow Jones industrial average surging 135 points to its highest close in a month.
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Schwab Names Chief to Succeed Founder
Posted: July 23rd, 2008, 12:29am EDT by By THE ASSOCIATED PRESS
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The nation’s largest discount brokerage Charles Schwab said that it had appointed Walter W. Bettinger II as president and chief executive, to succeed its founder.
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Profit at U.P.S. Meets Forecast
Posted: July 23rd, 2008, 12:29am EDT by By REUTERS
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United Parcel Service reported profit in line with analysts’ expectations on Tuesday, despite high fuel costs and a weak national economy.
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Nissan Says Electric Cars Will Be Quickly Profitable
Posted: July 23rd, 2008, 12:27am EDT by By NICK BUNKLEY
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The capabilities of Nissan’s electric cars, to be introduced in 2010, will vary by country but none will have range-extending gasoline engines, the company’s chief executive said.
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BP Will Withdraw Its Engineers in Russia
Posted: July 23rd, 2008, 12:27am EDT by By ANDREW E. KRAMER
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BP is fending off a corporate raid by its Russian partners backed by Russian regulatory authorities, part of the strategy of which is to expel expatriate staff members from their joint venture.
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Drug Firm’s Profit Surpasses Estimates
Posted: July 23rd, 2008, 12:27am EDT by By REUTERS
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Biogen Idec reported a higher-than-expected second-quarter profit on Tuesday as sales of its closely watched multiple sclerosis drug Tysabri surged past Wall Street estimates.
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New Law Turns Brown Into Green for New York State
Posted: July 23rd, 2008, 12:27am EDT by By J. ALEX TARQUINIO
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A planned law change would reward developers for undertaking particularly demanding environmental cleanups.
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Speculators Aren’t Driving Up Oil Prices, Report Says
Posted: July 23rd, 2008, 12:25am EDT by By JAD MOUAWAD and DIANA B. HENRIQUES
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A preliminary study by a federal task force concluded that the rise in oil prices over the last five years was “largely due” to rising demand for oil, rather than speculation.
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Prices of Food and Gas Take a Toll in Asia
Posted: July 23rd, 2008, 12:25am EDT by By KEITH BRADSHER
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With large price increases for commonly used commodities, countries like India and Vietnam are already having to deal with double-digit inflation.
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Advertising: Direct Mail Tries to Go Green. No, Really.
Posted: July 23rd, 2008, 12:21am EDT by By CLAUDIA H. DEUTSCH
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A group of direct-marketing companies, along with a handful of their corporate clients, are banding together to make an inherently unsustainable practice at least a little bit greener.
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Talk of Chief’s Health Weighs on Apple’s Share Price
Posted: July 23rd, 2008, 12:19am EDT by By JOHN MARKOFF
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Despite reassurances that he is cancer free four years after he was treated for pancreatic cancer, analysts are worried that Steven P. Jobs might be sick again.
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Earnings at Caterpillar Climb 34%
Posted: July 23rd, 2008, 12:18am EDT by By REUTERS
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The construction and mining equipment company widely beat expectations, as strong growth in emerging economies offset weakness in North America, Western Europe and Japan.
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Lockheed Martin’s Earnings Increase 13%
Posted: July 23rd, 2008, 12:18am EDT by By THE ASSOCIATED PRESS
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Earnings rose as higher sales in its space, electronic systems and information technology units offset a drop in its fighter jet business.
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Veto Seems More Likely in Battle Over Tobacco Bill
Posted: July 23rd, 2008, 12:18am EDT by By STEPHANIE SAUL
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The Bush administration has said it “strongly” opposes the effort to give the Food and Drug Administration regulatory authority over tobacco.
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G.E. and Abu Dhabi Fund Form Financial Partnership
Posted: July 23rd, 2008, 12:11am EDT by By ABHA BHATTARAI
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General Electric said it would partner with Mubadala Development Company, an Abu Dhabi-based sovereign wealth fund, to create an $8 billion commercial finance fund.
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Phone Giants Fight to Keep Subscribers
Posted: July 23rd, 2008, 12:08am EDT by By LAURA M. HOLSON
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Telecommunication companies in the U.S. have to juggle the financial effect of customers dropping their landlines, and increased competition between wireless operators.
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Feeling Powerless, India Blames Oil Speculation
Posted: July 23rd, 2008, 12:02am EDT by By HEATHER TIMMONS
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India’s finance minister, Palaniappan Chidambaram, said speculation in the market was a greater factor in rising oil prices than offer and demand alone.
