AP Financial News Summary at 4:57 a.m. EDT
Aug. 31, 2006
BP May Resume Pipeline Production Soon
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PRUDHOE BAY, Alaska (AP) _ Interior Secretary Dirk Kempthorne got his first look Wednesday at BP's pipeline corrosion at Prudhoe Bay as one of the company's senior executives said a way might be found to return to full oil production before having to replace 16 miles of pipes.
Oil Prices Rise on Concerns About Iran
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SINGAPORE (AP) _ Oil prices rose Thursday on concerns about possible supply disruptions as a U.N. deadline on Iran's nuclear program arrived.
Judge Calls for New Trial in Vioxx Case
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NEW ORLEANS (AP) _ A federal judge here has taken some of the sting out of a recent legal defeat that Merck & Co. suffered over its withdrawn painkiller, Vioxx.
ECB Seen Keeping Interest Rates Steady
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FRANKFURT, Germany (AP) _ The European Central Bank is widely expected to keep interest rates unchanged Thursday, but markets are watching for hints of a quarter-point increase in a month's time.
Child Workers Decreases in Asian Nations
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BUSAN, South Korea (AP) _ The good news is that child labor in Asia is decreasing. The bad news? It's not declining fast enough.
Company in iPod Labor Fuss Eases Claims
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SHANGHAI, China (AP) _ A maker of Apple Computer's iconic iPod said Thursday it has cut its demand for defamation damages over a report it mistreated its workers to a symbolic 1 yuan (12 U.S. cents) following a wave of bad publicity.
Key Coca-Cola Exec Joins Clorox as CEO
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SAN FRANCISCO (AP) _ Clorox Co. has lured away Coca-Cola Co. executive Donald Knauss to guide its household products bazaar, filling a void created after its previous chief executive suffered a heart attack earlier this year.
Air France-KLM 1Q Profit Up 117.9 Pct.
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PARIS (AP) _ Air France-KLM reported Thursday that first-quarter net profit more than doubled as growth in its passenger and cargo businesses helped offset rising fuel prices.
Japanese Stocks Rise; Dollar Up vs. Yen
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TOKYO (AP) _ Japanese stocks rose Thursday, lifted by broad gains in technology and blue-chip stocks like Toshiba and Canon. The dollar advanced against the yen.
TiVo Widens 2Q Loss, but Tops Estimates
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SAN FRANCISCO (AP) _ The red ink swelled in TiVo Inc.'s second quarter as the maker of digital video recorders amassed heavy legal costs to litigate an intellectual property dispute.