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AP Financial News Summary at 6:35 a.m. EDT

April 3, 2006

Alcatel Shares Up on News of Lucent Deal

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PARIS (AP) _ Alcatel SA’s shares jumped 5.5 percent Monday following the announcement of $13.4 billion stock swap with Lucent Technologies Inc. that will create a powerhouse in a consolidating telecom industry.

Transit Strike in Denver Strands Thousands

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DENVER (AP) _ Hundreds of thousands of Denver-area commuters faced the prospect of carpooling, biking or walking to work Monday after transit workers voted to strike for the first time in 24 years.

Japanese Stocks Rise; Dollar Up vs. Yen

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TOKYO (AP) _ Upbeat results in a key business survey lifted Japanese stocks to their highest level in more than 5 1/2 years Monday, running the market’s winning streak to seven straight sessions.

Report Says Airline Service Has Suffered

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WASHINGTON (AP) _ People are boarding planes as often as they did before the Sept. 11, 2001, hijackings _ and complaints about airline service are growing as well, says an annual survey of carrier quality.

Crude Oil Prices Rise to $67 a Barrel

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VIENNA, Austria (AP) _ Oil prices rebounded Monday on the uncertain outlook for supplies out of Iran and Nigeria, sending Nymex prices back to $67 a barrel and Brent crude spiking by more than $1 a barrel.

Newspapers See Growing Online Audiences

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CHICAGO (AP) _ Newspapers’ online audiences are growing rapidly, according to a new industry study, highlighting a key growth area that newspapers are seeking to exploit as print circulation continues to be challenged.

Survey: Japanese Businesses Upbeat in 1Q

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TOKYO (AP) _ A closely watched survey showed Monday that Japanese businesses remained upbeat in the first quarter, reflecting the nation’s economic recovery, although an index for sentiment at large manufacturers dipped.

Union Votes to Approve Sikorsky Offer

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STRATFORD, Conn. (AP) _ Teamsters union members narrowly voted Sunday to approve a new contract with Sikorsky Aircraft, accepting contract terms similar to those they overwhelmingly rejected six weeks ago when they walked off the job.

Enron Was No House of Cards, Defense Says

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HOUSTON (AP) _ For years now, Enron Corp. has been synonymous with fraud and lies. Attorneys for its former top two leaders are about to try to make good on their promise to tear down that image and show that not only are their clients innocent of wrongdoing, the company was no bed of corruption.

Gov’t Report Finds Fewer ID Theft Victims

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WASHINGTON (AP) _ An estimated 3.6 million U.S. households _ or about three out of every 100 _ reported being victims of identity theft, according to a government study that counted misuse of someone else’s cell phone, credit card or personal information.

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