AP Financial News Summary at 8:57 a.m. EDT
Oct. 25, 2005
Stock Futures Slip After Big Rally
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LONDON (AP) _ U.S. stock market futures drifted lower Tuesday in what can be either seen as profit-taking after the biggest one-day gain in six months or a renewed evaluation of Ben Bernanke, the next chairman of the Federal Reserve.
Bernanke Vows to Uphold Greenspan Policies
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WASHINGTON (AP) _ Ben Bernanke, a plain-speaking former economics professor, was chosen Monday by President Bush to be the next chairman of the Federal Reserve, the most influential economic policy job in the world.
BP Reports 3rd-Quarter Profit Up 34 Pct.
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LONDON (AP) _ BP PLC, one of the world's largest oil companies, reported a 34 percent rise in quarterly profit Tuesday as record energy prices more than outweighed hurricane damage to its rigs and refineries.
DuPont Posts Third-Quarter Loss
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WILMINGTON, Del. (AP) _ DuPont Co., one of the nation's largest chemicals makers, on Tuesday reported a loss for the third-quarter after taking a tax-related charge and suffering losses from Hurricanes Rita and Katrina.
Ameritrade Fourth-Quarter Profit Rises
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OMAHA, Neb. (AP) _ Online brokerage Ameritrade Holding Corp. on Tuesday reported sharply higher fiscal fourth-quarter profit, driven by stronger fees as trading continued to pick up.
Oil Prices Fall Ahead of Inventory Data
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VIENNA, Austria (AP) _ Crude oil futures slipped Tuesday after Hurricane Wilma missed platforms and refineries in the Gulf of Mexico and as traders expected U.S. energy inventories to increase.
BP Reports 3Q Profit Increase of 34 Pct.
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LONDON (AP) _ Energy group BP PLC, one of the world's largest oil companies, reported Tuesday that profits rose 34 percent in the third quarter as high oil prices outweighed the impact of hurricanes in North America.
International Paper 3Q Earnings Up Sharply
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STAMFORD, Conn. (AP) _ International Paper Co., the world's largest paper company, said Tuesday its third-quarter earnings rose sharply due to the sale of an Australian forest products company and a federal tax settlement.
Fed Nominee Says He Will Stay the Course
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WASHINGTON (AP) _ Ben Bernanke, President Bush's choice to be the next chairman of the Federal Reserve, is making it perfectly clear that his top priority would be to continue Alan Greenspan's legacy _ a comment that is music to investors' ears.
SBA Hurricane Aid Program Still Sluggish
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WASHINGTON (AP) _ One month after Hurricane Rita tore into southwestern Louisiana, small businesses are finding themselves in a familiar position: waiting for aid from the federal government.