AP Financial News Summary at 5:32 p.m. EDT
Sep. 27, 2006
Dow Ends Up 21, Falling Short of Record
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NEW YORK (AP) _ Wall Street advanced for a third straight session Wednesday, although the Dow Jones industrial average fell just short of touching its record high close after a jump in oil prices stifled investors' enthusiasm.
Ex-Comverse Chief Captured After Manhunt
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NEW YORK (AP) _ After a two-month international manhunt, the indicted former chief executive of leading voicemail-software maker Comverse Technology Inc. was captured on Wednesday in southwest Africa, U.S. officials announced Wednesday.
McDonald's Raises Dividend 49 Percent
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CHICAGO (AP) _ McDonald's Corp. shares jumped to a new six-year high Wednesday after the world's largest fast-food chain raised its annual dividend 49 percent and said it expects to return more cash to shareholders over the next two years.
7-Eleven Drops Citgo As Gas Supplier
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DALLAS (AP) _ 7-Eleven Inc. dropped Venezuela-owned Citgo as its gasoline supplier after more than 20 years as part of a previously announced plan by the convenience store operator to launch its own brand of fuel.
Aug. Home Sales Gains Seen As Temporary
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WASHINGTON (AP) _ Sales of new homes, after falling for three months, rose in August. But the gain was expected to be temporary as the battered housing industry struggles with a near-record level of unsold homes.
Federated Says Icahn Wants More Shares
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CINCINNATI (AP) _ Billionaire investor Carl Icahn, known for challenging the management of various corporations, wants to acquire up to $500 million in additional shares of Federated Department Stores Inc., the operator of Macy's and Bloomingdale's said on Wednesday. Federated shares rose 2 percent by late afternoon.
Oil Jumps Almost $2; Natural Gas Plunges
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WASHINGTON (AP) _ Oil prices jumped almost $2 Wednesday after briefly dropping to nearly $60-a-barrel, while natural gas futures plunged to their lowest level since December 2002.
Univision Shareholders OK $12.3B Sale
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LOS ANGELES (AP) _ Shareholders of Spanish-language broadcaster Univision Communications Inc. voted Wednesday in favor of selling the company for $12.3 billion to a private investor group that includes media mogul Haim Saban.
GM Toughens Public Renault-Nissan Stance
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PARIS (AP) _ General Motors toughened its public stance on proposals that the U.S. carmaker join an alliance with Renault and its sister company, Nissan, adding to uncertainties weighing on the industry as the Paris Motor Show opens its doors Thursday.
Late Credit Card Payments Edge Higher
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WASHINGTON (AP) _ Late payments on credit card bills edged up this past spring, when high energy prices were squeezing the finances of some people and making it hard to pay bills on time.