AP Financial News Summary at 6:10 a.m. EST
Ford Says New Plan Goes Beyond Job Cuts
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DEARBORN, Mich. (AP) _ Ford Motor Co. says its new restructuring plan goes beyond job cuts and plant closings in its effort to restore North American profits. The nation’s second-largest automaker also will try to reinvigorate its domestic brands as part of the turnaround.
Ruling Party Avoids Livedoor Executive
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TOKYO (AP) _ Japanese ruling party legislators in scrambled Tuesday to distance themselves from Internet startup Livedoor’s chief executive, who was arrested overnight on suspicion of violating securities laws.
Jury Selection to Begin in 4th Vioxx Trial
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HARLINGEN, Texas (AP) _ Defense attorneys in the nation’s fourth Vioxx trial may face their biggest challenge Tuesday as they select a jury from what’s considered one of the most plaintiff-friendly regions in the country, legal experts say.
Crude Oil Prices Fall Below $68 a Barrel
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SINGAPORE (AP) _ Oil prices fell Tuesday, consolidating after last week’s brisk gains, but analysts said prices would likely resume their climb as Iran’s nuclear ambitions and militant attacks in Nigeria continued to pose threats to oil supplies.
Toshiba Is Preferred Westinghouse Bidder
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TOKYO (AP) _ Japan’s Toshiba Corp. said Tuesday that it has been selected as the preferred bidder for the sale of U.S. nuclear plant builder Westinghouse Electric Co.
Texas Instruments Profit Rises 34 Percent
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DALLAS (AP) _ Texas Instruments Inc. saw a 34 percent jump in quarterly income on strong sales of chips for mobile phones and electronic devices, but offered only a tepid outlook for the start of 2006.
Report: Airbus Mulls China Assembly Line
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SHANGHAI, China (AP) _ European aircraft maker Airbus SAS is leaning toward building an assembly line for single-aisle aircraft in China, with a decision expected by midyear, a report said Tuesday, citing company chief executive officer Gustav Humbert.
Ford Workers Upset About Plant Closures
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HAPEVILLE, Ga. (AP) _ Mark Gilmore moved with his teenage son from Ohio to Georgia 18 months ago in a quest for more stable work at the Ford Motor Co. assembly plant outside Atlanta. Now, he’s regretting the decision after the automaker announced Monday it is shuttering the plant along with 13 other facilities in a major cost-cutting move.
Dow Closes Up 21, Nasdaq Finishes Up 1
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NEW YORK (AP) _ Wall Street drifted to a modestly higher finish Monday as investors sought bargains after last week’s selloff and disappointing earnings in the financial sector raised fresh concerns about corporate profits.
Economy’s Leading Indicators Tick Higher
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NEW YORK (AP) _ A closely watched gauge of future economic activity edged higher in December, pointing to continued but, perhaps, uneven growth in the year ahead, a private research group said Monday.