AP Financial News Summary at 1:50 p.m. EDT
Sep. 08, 2006
WSJ: HP Chairwoman 'Appalled' by Tactics
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SAN FRANCISCO (AP) _ Hewlett-Packard Co. Chairwoman Patricia Dunn said Friday she did not know investigators hired by the company were posing as board members to obtain their personal information, adding that she was ``appalled'' to learn of the tactic.
Broadcom Finds More Option Errors
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IRVINE, Calif. (AP) _ Broadcom Corp., a supplier of chips used in communications devices, said Friday it may need to record expenses starting at $1.5 billion for stock option accounting flaws, double what it had estimated in July.
Stocks Are Gaining in Midday Trade
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NEW YORK (AP) _ Stocks pulled higher Friday, rebounding from two days of losses after oil prices fell and investors seemed to shrug off another warning from a homebuilder about declining demand.
Blacks, Hispanics Pay More for Mortgages
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WASHINGTON (AP) _ Black and Hispanic home buyers pay more for their mortgages than do whites, according to a Federal Reserve report released Friday.
BP Audit: Key Job Vacant Before Spill
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WASHINGTON (AP) _ By the time a massive oil-pipeline spill was discovered in March on Alaska's North Slope, the job of BP's senior corrosion engineer had been left unfilled for more than a year, according to an internal company audit.
Lennar Cuts 3Q Profit Outlook
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MIAMI (AP) _ Lennar Corp., one of the nation's biggest homebuilders, cut its third-quarter earnings projections Friday due to a decrease in new orders amid softening in the housing market. Its shares fell nearly 2 percent.
Bank of Japan Leaves Rates Unchanged
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TOKYO (AP) _ The Bank of Japan left interest rates unchanged Friday amid speculation about when the nation's central bank will next tighten credit as the economy recovers.
Sportingbet Not Contacted by Authorities
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LONDON (AP) _ Online gambling company Sportingbet PLC, whose chairman was arrested in New York this week, said Friday it hasn't been contacted by U.S. authorities regarding the matter and was continuing to operate as normal, taking bets from the U.S.
Heinz Says 2 Dissidents May Join Board
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PITTSBURGH (AP) _ Food maker H.J. Heinz Co. said Friday that initial voting results showed two dissident investors, Nelson Peltz and Michael F. Weinstein, have been elected to its 12-member board of directors following a fierce proxy battle.
Oil Prices Continue to Slide
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WASHINGTON (AP) _ Oil prices fell by almost $1 a barrel on Friday, dipping below $67 as traders focused on slackening demand and rising supplies.