AP Financial News Summary at 10:34 p.m. EST
NWA, Delta Pilots Face Deadline on Deals
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Pilots at Northwest and Delta airlines have until Wednesday to make pay cut deals before they risk losing some of their control over the matter.
Dow Ends Down 104 on Mixed Economic Data
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NEW YORK (AP) _ A mixed economic picture sent stocks tumbling Tuesday, with the Dow Jones industrials falling more than 100 points after investors were unnerved by weakness in home sales, consumer confidence and manufacturing. An upward revision in the fourth-quarter gross domestic product, meanwhile, raised worries about higher interest rates.
Growth Concerns Push Down Google Stock
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SAN FRANCISCO (AP) _ Google Inc.’s shares plummeted by as much as 13 percent Tuesday after the company’s chief financial officer raised the specter of slower earnings growth _ a remark that soured recent investor enthusiasm that had been building for the Internet’s leading search engine.
Witness: Enron Rules ‘Fast and Loose’
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HOUSTON (AP) _ A former high-ranking Enron Corp. trading and retail energy executive delivered the most bruising punches so far to company founder Kenneth Lay and former Chief Executive Jeffrey Skilling Tuesday in the fifth week of their fraud and conspiracy trial, saying it was standard to ``play fast and loose with our rules″ when it came to earnings manipulation.
Job Fears Push Down Consumer Confidence
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NEW YORK (AP) _ Americans in February became less optimistic about the overall economy, especially the short-term prospects for the job market, sending a widely followed barometer of consumer sentiment below analysts’ estimates.
Market Woes Lurk Behind Sleek Auto Debuts
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GENEVA (AP) _ Automakers offered sneak peaks of their newest models at the International Motor Show Tuesday, but behind the sheen of the meticulously waxed vehicles, there was concern about the weak outlook for sales in Europe and North America this year.
Economists Predict First Quarter Rebound
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WASHINGTON (AP) _ The economy, which stubbed its toe in the final quarter of 2005, is probably back on firm footing in the opening quarter of this year despite a cooling housing market and somewhat skittish consumers.
NYSE Set for Radical Change
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NEW YORK (AP) _ The New York Stock Exchange is about to undergo a radical transformation _ after 213 years as an independent, not-for-profit business, the NYSE will become a publicly traded company that must answer to a new set of owners: its shareholders.
Profits Send Staples to 52-Week-High
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BOSTON (AP) _ Rapid growth in Staples Inc.’s delivery business and improving results overseas contributed to a 15 percent profit increase in the fourth quarter for the nation’s largest office products retailer, sending its shares up more than 6 percent to a 52-week high on Tuesday.