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AP Financial News Summary at 4:53 p.m. EDT

October 17, 2004

Investors Weigh Pharmaceuticals, Techs

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NEW YORK (AP) _ As Wall Street sifts through more than 300 third-quarter earnings reports this week, technology and pharmaceutical stocks will be getting some of the closest scrutiny.

Sony May Open Stores, Worrying Retailers

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COSTA MESA, Calif. (AP) _ Few people took notice when Sony Electronics Inc. opened a tiny storefront last year here at South Coast Plaza, a swanky mall south of Los Angeles.

Martha Stewart, Town Adjust to Sentence

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ALDERSON, W.Va. (AP) _ Residents of this small community are adjusting to having celebrity homemaker Martha Stewart as their neighbor in the federal prison camp outside town, where the maven of good taste says ``everyone is nice.″

US Airways May Slash Pay by 21 Percent

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ALEXANDRIA, Va. (AP) _ A federal bankruptcy judge has granted approval for US Airways to cut the pay of its union workers by 21 percent through February to help the nation’s seventh-largest airline stay in business and emerge from bankruptcy.

Risk Consultant Kroll Names New CEO

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NEW YORK (AP) _ Risk consultant Kroll Inc. on Sunday named a new chief executive to replace Michael G. Cherkasky, the new head of Marsh Inc., the insurance brokerage unit that has come under regulatory scrutiny.

Chinese Showcase Fuel-Saving Cars

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ANTING, China (AP) _ The Habo No. 1 looks like any one of the legions of Volkswagen sedans in China. But a peek under the hood reveals an array of chrome canisters instead of the usual engine _ the Habo is fueled not by gas but hydrogen peroxide.

Trinidad Has Offshore Natural Gas Platform

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LA BREA, Trinidad (AP) _ A stone’s throw from the spot where British explorer Sir Walter Raleigh happened upon a vast lake of tar in 1595, workers now build the first offshore natural gas drilling platform designed and constructed in a Caribbean country.

Northwest Pilot Leaders Endorse Pay Cut

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MINNEAPOLIS (AP) _ Leaders of the union for Northwest Airlines pilots voted unanimously Saturday to endorse a tentative agreement that will cut pilot compensation by $265 million annually.

German Opel Plant Workers Keep Up Protest

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BOCHUM, Germany (AP) _ Hundreds of workers at an Opel car plant in Germany kept up a protest outside the factory gates Sunday against plans by parent company General Motors for thousands of job cuts, demanding assurances that there will be no compulsory layoffs.

Wal-Mart Finds Union at Its Back Door

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JONQUIERE, Quebec (AP) _ The signs topping sales racks wear the same yellow smiley face, but promise ``Chute de Prix,″ instead of price rollbacks. The boxes of Tide shelved in housewares come packed with a bonus CD inviting shoppers to experience ``la passion du Hockey.″

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