AP Financial News Summary at 9:18 a.m. EST
Mar. 21, 2006
Appeals Court Tosses Quattrone Conviction
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NEW YORK (AP) _ Frank Quattrone, the king dealmaker of the Internet stock boom who once made $120 million in a single year, may face a third obstruction-of-justice trial after an appeals court tossed out his conviction.
Wholesale Inflation Slides in February
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WASHINGTON (AP) _ Inflation at the wholesale level plunged by the largest amount in nearly three years in February as the price of food and energy products including gasoline fell sharply.
Investors Dubious of Oracle Takeover Spree
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SAN FRANCISCO (AP) _ After pouring nearly $20 billion into a recent takeover spree, Oracle Corp. is having trouble convincing investors the money has been well spent.
Futures Down on Bernanke Speech, Oracle
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LONDON (AP) _ A speech considered mildly hawkish by Federal Reserve Chairman Ben Bernanke and disappointing results from computer software giant Oracle Corp. weighed on U.S. stock market futures Tuesday.
Putin Commits to Gas Supplies for China
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BEIJING (AP) _ Russian President Vladimir Putin announced plans Tuesday to step up energy supplies to China with a gas pipeline opening within five years, but there was no word of an agreement to build a separate pipeline sought by Beijing to deliver Siberian oil to China.
Nissan Motor to Sell Nissan Diesel Stake
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TOKYO (AP) _ Nissan Motor Co. will sell 13 percent of Nissan Diesel to Swedish truck-maker Volvo AB for 1.5 billion Swedish kronor, or $196 million, the two companies said Tuesday.
Suez, GDF Hold 'Indirect' Talks With Enel
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PARIS (AP) _ Suez SA and Gaz de France SA held ``indirect'' talks with Italy's Enel SpA after they announced a government-backed deal to combine the French utility companies last month, but the discussions have ended, Suez said Tuesday.
Oil Prices Mixed on Nigeria, Iran Worries
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VIENNA, Austria (AP) _ Crude oil prices were mixed Tuesday as traders weighed expectations of further U.S. oil inventory increases against anxieties over recent supply disruptions in Nigeria and the impact of international pressure on Iran over its nuclear program.
Former Accountants Testify at Enron Trial
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HOUSTON (AP) _ For Thomas Bauer, who headed dozens of Arthur Andersen LLP accountants based at Enron Corp., the regular journey through the maze of financial reports was straightforward.
Schering Board Member Steps Down
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BERLIN (AP) _ Schering AG, which is trying to fend off a takeover bid from fellow German drugmaker Merck KGaA, said Tuesday a member of its supervisory board has stepped down to avoid a conflict of interest.
Delta Seeks to Nix Employee Stock Options
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ATLANTA (AP) _ Delta Air Lines Inc., which is operating under bankruptcy protection, asked a judge Monday to allow the nation's third-largest carrier to void roughly 93 million stock options held by 70,000 current and former employees and directors.