AP Financial News Summary at 4:34 a.m. EDT
Dow, Nasdaq Rally Wanes; Stocks End Mixed
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NEW YORK (AP) _ A late-day selloff left stocks mixed Monday as investors put aside their enthusiasm over acquisitions and evidence of a moderating economy and cashed in profits from an early advance.
JetBlue Adds Spa Amenities on Redeyes
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NEW YORK (AP) _ JetBlue Airways Corp. will offer spa products on its redeye flights, hoping to fill seats in fiercely competitive transcontinental markets as high fuel prices continue to plague the airline industry.
Toyota Sales Up in March; Ford, GM Down
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DETROIT (AP) _ The U.S. auto industry’s slump hit GM hard in March, when the struggling automaker’s sales fell almost 15 percent while rival Toyota reported its highest ever monthly sales yet.
Workers Have Retirement ‘Overconfidence’
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NEW YORK (AP) _ The majority of American workers think they’ll be able to retire comfortably, but most aren’t saving nearly enough to meet that goal, according to a new study.
Lawyers for Lay, Skilling Launch Defense
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HOUSTON (AP) _ Lawyers for former Enron Corp. chiefs Kenneth Lay and Jeffrey Skilling launched their case Monday with the two men’s former assistant, who said she believed a key prosecution witness lied about his involvement in company-related crimes.
Ameristar Offers About $1.5B for Aztar
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LAS VEGAS (AP) _ Ameristar Casinos Inc. said Monday it has offered about $1.5 billion in cash to acquire Aztar Corp., a Phoenix-based casino operator, trumping previous offers from Pinnacle Entertainment Inc. and Colony Capital LLC.
GM Agrees to Sell Majority Stake in GMAC
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DETROIT (AP) _ General Motors Corp., desperate for cash to pay for buyouts and plant closings as part of its North American restructuring, said Monday that it has agreed to sell a 51 percent stake in its finance arm in a deal expected to generate $14 billion for the world’s biggest automaker.
Japanese Stocks Fall, Snap 7-Day Streak
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TOKYO (AP) _ Japanese stocks slipped Tuesday after a seven-session advance as investors took profits in technology and exporter blue chips that had rallied recently.
Airlines to Begin Charging for Amenities
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WASHINGTON (AP) _ Ask for a pillow and blanket to help get through a long flight and you may be out of luck. Or you may be able to buy a ``comfort package″ from Air Canada for $2. Like to check your luggage curbside? That could cost up to $3 a bag.
Ex-Westar CEO Wittig Gets 18-Year Sentence
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TOPEKA, Kan. (AP) _ A federal judge on Monday sentenced former Westar Energy Inc. CEO David Wittig to 18 years in prison for looting millions from the Kansas utility.