AP Financial News Summary at 6:05 p.m. EDT
EU Imposes More Trade Sanctions on U.S.
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BRUSSELS, Belgium (AP) _ The European Union imposed $9.1 million in additional retaliatory sanctions against the United States on Monday in response to antidumping measures meant to protect U.S. companies. The World Trade Organization had declared the U.S. rules illegal.
Scope of Monday Immigrant Boycott Unclear
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NEW YORK (AP) _ Now that immigrants have grabbed the nation’s attention, what next? Monday has been set aside for immigrants to boycott work, school and shopping to show how much they matter to their communities. But with some growing tired of street protests, and others afraid they’ll be deported or fired for walking out, people are planning to support the effort in myriad ways.
Second Enron Trial to Begin This Week
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HOUSTON (AP) _ The first of three retrials stemming from last year’s three-month trial of five former Enron Corp. broadband executives that ended with a hung jury is slated to begin Tuesday next door to the ongoing fraud and conspiracy case of company founder Kenneth Lay and former CEO Jeffrey Skilling.
Investors Await Raft of Economic Data
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NEW YORK (AP) _ Major stock indexes held above five-year highs last week, even as a slumping U.S. dollar and soaring oil prices raised inflation concerns. But a raft of economic reports this week could upset this glass-half-full optimism if they suggest the economy has too much momentum, analysts said.
Powerful CEOs Cede Control As They Testify
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HOUSTON (AP) _ Testifying in his federal fraud trial last week, Enron Corp. founder Kenneth Lay quibbled and qualified, stuttered and stammered, wondered aloud where the questions were going.
Influential Economist Galbraith Dies at 97
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BOSTON (AP) _ Harvard professor John Kenneth Galbraith, the renowned economist whose influence stretched from presidents, as adviser and diplomat, to Main Street, as a prolific best-selling author and TV host, has died at age 97.
Wal-Mart Says April Sales Rose 6.8 Percent
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BENTONVILLE, Ark. (AP) _ Wal-Mart Stores Inc. said its April sales in the U.S. rose about 6.8 percent over the same period last year because of Easter falling later in the calendar.
Bolten: Gas Measures to Have Modest Effect
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WASHINGTON (AP) _ President Bush’s new chief of staff said Sunday that the White House plan to address high gasoline prices will have only a modest impact and the ultimate goal must to be reducing dependence on foreign oil.
Report on Iraq Reconstruction Is Mixed
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WASHINGTON (AP) _ Dozens of firehouses and hundreds of police stations have been rebuilt in Iraq. Thousands of schools are fixed. Millions more Iraqis have access to cellular telephones.
Macs Are Virus Targets, Some Experts Warn
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SAN FRANCISCO (AP) _ Benjamin Daines was browsing the Web when he clicked on a series of links that promised pictures of an unreleased update to his computer’s operating system.