AP Financial News Summary at 5:28 p.m. EST
Settlement Reached in BlackBerry Dispute
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NEW YORK (AP) _ Research In Motion Ltd., the maker of the BlackBerry e-mail device, Friday announced it has settled its long-running patent dispute with a small Virginia-based firm, averting a possible court-ordered shutdown of the BlackBerry system.
Dow Ends Down Nearly 4, Nasdaq Drops 9
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NEW YORK (AP) _ Stocks fluctuated before closing slightly lower Friday after a Federal Reserve governor’s upbeat comments on inflation helped ease worries about a bleak forecast from Intel Corp. The major indexes finished mixed for the week.
Oil Prices Rise on Supply Fears
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Intel Lowers Revenue Forecast on Share Loss
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SAN JOSE, Calif. (AP) _ In a troubling sign for a tech industry dominated by Intel Corp. chips, the world’s No. 1 semiconductor company sharply cut its first-quarter revenue forecast Friday after seeing weaker-than-expected demand and a ``slight″ share loss to rivals.
Service Sector Hits Growth Spurt
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NEW YORK (AP) _ The nation’s service sector _ a wide range of businesses such as banking, restaurants and insurance _ expanded at a faster pace in February than Wall Street economists had expected, a private research group said Friday.
Northwest Pilots Reach Pay-Cut Deal
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MINNEAPOLIS (AP) _ Pilots reached a tentative pay-cut deal with Northwest Airlines Corp. on Friday, a major step toward ending a showdown that put the bankrupt airline’s future in doubt.
Bush: U.S. Shouldn’t See India As a Threat
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NEW DELHI (AP) _ Applauding newly warming U.S.-India relations, President Bush said Friday Americans should not respond to this nation’s exploding economy by closing itself off to global trade.
AK Steel Up on Reported U.S. Steel Talks
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CINCINNATI (AP) _ AK Steel’s shares climbed more than 23 percent Friday after a published report said it was in talks about being acquired by its bigger rival U.S. Steel Corp.
Delta Seeks Millions to Pay Advisers
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ATLANTA (AP) _ Delta Air Lines Inc., the nation’s third-largest carrier, asked a bankruptcy court judge Friday to approve $3.9 million in payments to some of the airline’s advisers.
Dana Files for Bankruptcy Protection
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TOLEDO, Ohio (AP) _ Auto parts maker Dana Corp. filed for bankruptcy protection for its U.S. operations on Friday, joining a growing list of suppliers forced to make major restructuring moves because of the slumping U.S. auto industry.
Investor Seeks Five Seats on Heinz Board
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PITTSBURGH (AP) _ H.J. Heinz Co. said Friday that a group led by billionaire investor Nelson Peltz plans to nominate five candidates to the food company’s 12-member board. Its stock rose more than 2 percent.