AP Financial News Summary at 6:10 a.m. EST
Lenovo Unveils Lenovo-Branded Computers
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SAN JOSE, Calif. (AP) _ Stepping up competition in the PC industry, Lenovo Group Ltd., the world’s third largest computer maker, is introducing its first Lenovo-branded computers to be sold outside its home base of China.
Viacom Posts Lower Fourth-Quarter Profit
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NEW YORK (AP) _ The newly formed Viacom Inc., owner of MTV, VH1 and Nickelodeon, reported lower fourth-quarter earnings Wednesday due mainly to charges and weak results at its Paramount movie studio.
Starwood to Run Two Las Vegas Sands Hotels
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HONG KONG (AP) _ Casino operator Las Vegas Sands Corp. said Thursday that luxury hotelier Starwood has agreed to operate two Sands hotels in a massive casino complex it is building in the Chinese enclave of Macau.
Toyota, GM Partnership Nears End
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TOKYO (AP) _ A symbolically key partnership between Toyota and General Motors is ending next month just as the leading Japanese manufacturer threatens to overtake its U.S. rival as the world’s top automaker.
Limited Brands 4Q Earnings Up 36 Percent
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COLUMBUS, Ohio (AP) _ Limited Brands Inc. says its Express line is improving after a rocky start in 2005.
Dow Closes Up 68, Nasdaq Finishes Up 20
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NEW YORK (AP) _ A combination of moderate inflation and falling oil prices energized Wall Street Wednesday, sending stocks higher as investors grew optimistic about an end to the Federal Reserve’s interest rate hikes.
Consumer Prices Rise 0.7 Percent in Jan.
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WASHINGTON (AP) _ Consumer prices galloped ahead in January at the fastest pace in four months, especially pinching the wallets of motorists and other energy users.
Dow Jones Announces Reorganization
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NEW YORK (AP) _ Dow Jones & Co. announced a new organizational structure on Wednesday that will divide the company into three business units, one of which will include the print and online editions of The Wall Street Journal.
Lay Unknowingly Predicted Own Enron Exit
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HOUSTON (AP) _ Enron Corp. founder Kenneth Lay eerily predicted his future without knowing it when he told employees he would stay at the helm of the battered company until the board dismissed him or Enron regained its stature as a new-economy powerhouse.
Oil Prices Dip on Supply Expectations
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LONDON (AP) _ Crude-oil prices slipped Thursday as expectations of higher U.S. oil inventories calmed a market that has been rattled by supply disruptions in Nigeria and Ecuador and by worries over Iran’s nuclear program.