AP Financial News Summary at 9:43 a.m. EST
Stocks Slip in U.S. After Plunge in Japan
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NEW YORK (AP) _ Stock prices are down in early trading in New York after after Japan’s markets suffered a second straight day of heavy selling so severe that trading was shut down early.
Consumer Prices Rise on Energy Cost Surge
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WASHINGTON (AP) _ Consumer prices rose by the largest rate in five years in 2005, reflecting a surge in energy costs, although other prices remained well behaved.
Tokyo Stock Exchange Forced to Close Early
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TOKYO (AP) _ Japan’s main stock market index tumbled for a second day Wednesday led by a sell-off in technology shares in a session that was halted 20 minutes early because of heavy trading volume amid a widening criminal investigation of the Internet startup Livedoor.
Schwab’s Fourth-Quarter Earnings Triple
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SAN FRANCISCO (AP) _ Charles Schwab Corp.’s fourth-quarter earnings more than tripled to cap the most profitable year in the discount stock brokerage’s 30-year history.
JPMorgan Chase Posts Strong Fourth Quarter
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NEW YORK (AP) _ JPMorgan Chase & Co., the nation’s third-largest bank, said Wednesday that its profits grew more than 60 percent in the fourth quarter from the year-earlier period despite disappointing trading results and charge-offs related to higher consumer bankruptcy filings.
AMR Corp.’s 4Q Losses Deepen on Fuel Costs
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FORT WORTH, Texas (AP) _ American Airlines parent AMR Corp. on Wednesday said its fourth-quarter loss widened as the nation’s biggest airline company wrestled with high fuel costs and competition with low-cost rivals.
Oil Prices Hover Around $67 Per Barrel
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VIENNA, Austria (AP) _ Crude-oil prices rose Wednesday as traders fretted over threats to supplies if sanctions were to be taken against Iran, OPEC’s second-largest producer, over its nuclear ambitions. Disruptions in Nigerian oil supplies amid rising unrest also fueled gains.
Southwest Airlines Profit Up on Revenue
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DALLAS (AP) _ Low-cost carrier Southwest Airlines said Wednesday that its fourth-quarter profit rose 54 percent despite an unexpected security expense, driven by higher revenue and its cost control efforts.
Dispute With Supplier Could Hurt Delphi
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TROY, Mich. (AP) _ A dispute with an Israeli maker of precision machine parts has threatened to hamper financially struggling Delphi Corp.’s ability to supply its No. 1 customer, General Motors Corp.
United Heads Into Bankruptcy Hearings
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CHICAGO (AP) _ United Airlines expects relatively smooth proceedings this week as it opens a confirmation on its Chapter 11 bankruptcy exit, the culmination of more than three years of restructuring.