AP Financial News Summary at 11:06 a.m. EDT
Nokia, Siemens to Merge Mobile Networks
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FRANKFURT, Germany (AP) _ Nokia Corp. and Siemens AG said Monday they will combine their telecommunications network equipment units in a joint venture, a move to help them compete with market leader Ericsson AB.
Stocks Dip on Lack of Economic Data
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NEW YORK (AP) _ Wall Street headed lower Monday as a lack of economic news left investors struggling to preserve momentum from last week’s recovery.
Zoellick Resigns From State Department
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WASHINGTON (AP) _ Deputy Secretary of State Robert Zoellick, the department’s No. 2 official, is resigning, Secretary of State Condoleezza Rice announced Monday.
Nestle to Buy Jenny Craig for $600 Million
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VEVEY, Switzerland (AP) _ In a twist in corporate synergy, chocolate-maker Nestle AG said Monday it will fatten up its weight-loss business by buying Jenny Craig Inc. for $600 million.
EADS Shareholders May Address Exec’s Fate
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PARIS (AP) _ Key board members of defense company EADS, which has been hit by delays to the Airbus A380 superjumbo and questions about stock sales beforehand, could consider the future of French co-Chief Executive Noel Forgeard at a meeting Monday, a French minister said.
Charitable Giving in U.S. Nears New High
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NEW YORK (AP) _ The urgent needs created by three major natural disasters _ the tsunami in Asia, earthquake in Pakistan and hurricanes Rita, Katrina and Wilma _ drove American philanthropy to its highest level since the end of the technology boom, a new study showed.
Circuit City Reports a $6.4M Profit in 1Q
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RICHMOND, Va. (AP) _ Circuit City Stores Inc. on Monday reported a $6.4 million profit for the first quarter, again exceeding Wall Street’s expectations, as it benefited from ongoing store improvements and booming sales of flat-panel televisions.
Oil Prices Fall Slightly
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VIENNA, Austria (AP) _ Oil prices fell Monday, but clung above $69-a-barrel levels amid lingering worries over Iran’s nuclear ambitions, and how that might affect oil supplies.
Train May Link New York, Atlantic City
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NEWARK, N.J. (AP) _ A group of casino-hotels in Atlantic City is trying to entice new customers to gamble by offering them an easy way to get to the slots: a direct train from New York City.
Hasbro to Sell New Playskool Line at CVS
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PAWTUCKET, R.I. (AP) _ Hasbro Inc., the nation’s second largest toy maker behind Mattel Inc., on Monday said it will create a new line of Playskool products for CVS Corp. drugstores, including diapers, wipes, feeding and developmental accessories.