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Boeing, machinists talks fail; Union to strike

Despite a 48-hour contract extension, negotiations between Boeing Co. and Machinists union officials failed Friday and the union said a strike was set to begin at 12:01 a.m...

Soybeans tumble as dollar gains ground on euro, Stevenson Jacobs

Soybean prices tumbled Friday after the dollar continued its rally against the euro, giving investors more reasons to sell commodities that were bought as a hedge against i...

Report: Gov't may soon back Fannie, Freddie

Shares of mortgage finance companies Fannie Mae and Freddie Mac tumbled in after-hours trading Friday following a report by The Wall Street Journal that the government may ...

Treasury prices decline as investors take profits, Madlen Read

Treasury prices fell Friday as investors cashed in profits from the strong gains the bonds made earlier in the week.Also weighing on Treasurys was an afternoon rever...

Prosecutors: Loss in AIG scheme exceeds $1B, John Christoffersen

Federal prosecutors in Connecticut say a scheme to manipulate the financial statements of the world's largest insurance company, American International Group Inc., resulted...

Summary Box: Unemployment hits 5-year high

THE LATEST: The nation's unemployment rate zoomed to a five-year high of 6.1 percent August and employers slashed jobs for the eighth month in a row.WHAT IT MEANS: W...

Unemployment climbs to 5-year high of 6.1 percent, Jeannine Aversa

The nation's unemployment rate bolted above the psychologically important 6 percent level last month for the first time in five years — and it's likely to go even higher ...

Nokia, UST, Lehman, Safeway, SanDisk big movers

Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:NYSEMerrill Lynch & Co., up 52 cents at $2...

GE says SEC probing possible securities violations

General Electric Co. says the Securities and Exchange Commission staff has notified the company it may recommend fines and other action for possible violations of securitie...

GE may face civil action on securities violations

General Electric Co. said Friday it has been informed that the Securities and Exchange Commission may recommend fines and other action for possible violations of securities...

InfoGroup no longer faces delisting from Nasdaq

Database provider InfoGroup Inc. said Friday it no longer faces the threat of being delisted, but the Nasdaq plans to reprimand the firm publicly.InfoGroup ran afoul...

NY Times to combine some sections in metro area

The New York Times plans to reduce the number of standalone sections of the New York metropolitan editions of the newspaper, a move designed to save money by cutting labor ...

Agriculture futures end trading lower on CBOT

Agriculture futures traded lower Friday on the Chicago Board of Trade.Wheat for December delivery fell 25.5 cents to $7.515 a bushel; December corn fell 16 cents to ...

Stocks mostly rise as investors snap up financials, Tim Paradis

Wall Street wrestled with intensifying economic worries Friday, extending sharp losses after a disheartening jobs report and then grudgingly engaging in some mild bargain h...

Sony recalls laptops for possible overheating

Sony Corp. is recalling 440,000 Vaio laptop computers worldwide because of a wiring flaw that could cause overheating.Sony said Thursday the recall involves 19 model...

Boeing to advise on Mitsubishi Regional Jet, Yuri Kageyama

Boeing Co. will serve as consultant to Mitsubishi Heavy Industries for its mid-sized regional jet — the first "made in Japan" passenger aircraft in three decades, the Jap...

London Taxi's famed black cabs made in China, Elaine Kurtenbach

London Taxis are as British as bowler hats and Big Ben. But the latest models coming off this new assembly line are unlikely to ever touch an English road.At a spraw...

Sinking Yahoo: Shares drop to nearly 5-year low, Michael Liedtke

Yahoo Inc.'s stock sank to its lowest level in nearly five years Thursday, magnifying the challenge facing the Internet company as its management tries to justify their reb...

Stocks rise as investors snap up financials, Tim Paradis

Stocks turned higher Friday, reversing steep losses that followed a worrisome reading on the nation's job market as investors sought bargains in sectors like financials and...

Details about Altria, UST

WHAT THE COMPANIES SAY: Altria Group, which owns Marlboro-maker Philip Morris USA, called a New York Times report that it would buy rival UST Inc. for more than $10 billion...

Bank of America ready to settle securities probes, Marcy Gordon

Bank of America Corp. said Friday it is ready to settle federal and state investigations into sales of risky auction-rate securities, joining eight other big investment ban...

Is the financial crisis over? Not so fast, Dan Perry

Oil prices are down, the dollar is up, and U.S. growth and exports have perked up a little. So is the global financial crisis winding down anytime soon? Top economists and ...

Tech firms fare better than most in jobs slump, Barbara Ortutay

Technology appears to be one of the least hard-hit sectors in an economy beset by unemployment at a five-year high.The Labor Department reported Friday that companie...

Stocks fluctuate as investors snap up financials, Tim Paradis

Stocks fluctuated Friday, pulling off steep losses that followed a worrisome reading on the nation's job market as investors sought bargains in sectors like financials and ...

Microsoft deploying in-store customer-service reps, Rachel Metz

NEW YORK — As part of its new $300 million marketing campaign and image makeover, Microsoft Corp. plans to deploy its own customer-service representatives at retailers li...

Aruba Networks declines after analyst downgrade

Aruba Networks Inc. shares fell Friday after an analyst downgraded the stock to "Equal Weight," saying that despite strong sales, ongoing capital investments are limiting t...

US oil and gas rig count down by 18

The number of rigs actively exploring for oil and natural gas in the United States fell by 18 this week to 2,013.Of the rigs running nationwide, 1,586 were exploring...

Stocks pull back on disappointing jobs report, Tim Paradis

Wall Street fell for a second straight session Friday following a worrisome reading on the nation's job market, but stocks pulled off of steep losses as investors sought ba...

Agriculture futures open trading lower on CBOT

Agriculture futures traded lower Friday on the Chicago Board of Trade.Wheat for December delivery fell 31.5 cents to $7.455 a bushel; December corn fell 15 cents to ...

Review panel criticizes Great Lakes health study, John Flesher

Substandard science has hurt a federal agency's seven-year effort to document possible links between industrial pollution and health problems in the Great Lakes region, an ...

Dollar mostly higher, gold rises in Europe

The U.S. dollar was mostly higher against other major currencies in European trading Friday. Gold rose.The euro traded at $1.4281, down from $1.4331 late Thursday in...

Altria calls reports on UST 'pure speculation', Vinnee Tong

Altria Group, which owns Marlboro-maker Philip Morris USA, said Friday that a report of its impending acquisition of UST was "pure speculation." Analysts said the deal make...

FDA posts list of potential problem drugs, Ricardo Alonso-zaldivar

The government on Friday began posting a list of prescription drugs under investigation for potential safety problems in an effort to better inform doctors and patients.Continental to charge $15 for 1st checked bag, David Koenig

Continental Airlines Inc. said Friday it is charging some coach customers $15 for a first checked bag, matching a similar fee imposed by most other major U.S. carriers....

Summary box: Google still feeling lucky at 10

HUMBLE START: Larry Page and Sergey Brin incorporated Google on Sept. 7, 1998, after unsuccessfully trying to sell their search engine for a couple of million dollars. They...

Google reigns as world's most powerful 10-year-old, Michael Liedtke

When Larry Page and Sergey Brin founded Google Inc. on Sept. 7, 1998, they had little more than their ingenuity, four computers and an investor's $100,000 bet on their beli...

Oil prices drop as jobs data add to demand worries, Madlen Read

Oil prices sank to a five-month low Friday as a jump in the U.S. unemployment rate signaled to traders that Americans might keep paring back their energy use to save money....

Stocks fall as jobs data stirs fear about economy, Tim Paradis

Stocks lost ground for a second straight session Friday following a worrisome reading on the nation's job market but pulled off of steep losses as investors looked for barg...

Nokia warns 3Q market share will fall; shares dive, Matti Huuhtanen

Shares in Nokia Corp. tumbled Friday after the leading cell phone maker said its third-quarter global market share will decline from second-quarter levels because of aggres...

Home loan troubles break records again, Alan Zibel

The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans ...

National Semi earnings down on tax rate

National Semiconductor Corp., which makes chips that regulate power and perform other functions in gadgets, reported Friday its first-quarter profit fell 7 percent from a y...

German industrial production fell in July

German industrial production fell 1.8 percent in July compartede with June, with the three main categories of output showing declines, the ministry of the economy said Frid...

Stocks open lower after disappointing job data, Tim Paradis

Selling swept across Wall Street for a second straight session Friday on news that the economy shed jobs for the eighth straight month in August and at a faster-than-expect...

Oil rebounds on dollar weakness, Pablo Gorondi

Oil prices slipped Friday but recovered from earlier lows as the dollar weakened against the euro and unemployment data deflated hopes of a late-year economic recovery in t...

Russia's MTS to sell Apple iPhone

Russia's number one cell operator MTS said Friday it has signed a deal with Apple Inc. to sell the iPhone in Russia.MTS, which becomes the last of the country's "big...

Greenspan: Don't use Fed as a 'magical piggy bank', Jeannine Aversa

Troubled by the Bear Stearns debacle, former Federal Reserve Chairman Alan Greenspan is advocating a new way of dealing with government bailouts of companies whose sudden c...

Stocks sink on jobs data; tech plummets, Tim Paradis

Wall Street fell sharply Friday after the government's much-anticipated employment report showed weaker-than-expected job growth and a rise in the unemployment rate. The Na...

Jobless rate jumps to 5-year high of 6.1 percent, Jeannine Aversa

The nation's unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled...

US stocks look to extend losses after job data, Joe Bel Bruno

Wall Street looked to extend its sharp decline Friday after the government disappointed investors with news that the economy shed jobs for the eighth straight month in Augu...

Nokia warns 3Q market share will fall

Nokia Corp. warned Friday its third-quarter global market share will decline from second-quarter levels, sending its U.S. shares tumbling more than 11 percent in premarket ...

World markets sink after Wall Street plunge, Louise Watt

World stock markets fell sharply Friday in the wake of a sell-off on Wall Street amid mounting concerns about a slumping U.S. economy and its impact on global growth.Report: Samsung working to acquire SanDisk

Samsung Electronics Co. is pursuing an acquisition of U.S. computer memory card maker SanDisk Corp., a South Korean online business newspaper reported Friday.Both Sa...

Assurant signs warranty accord with GE unit

Specialty insurer Assurant Inc. has agreed to acquire the warranty management business of General Electric Co.'s appliance and consumer electronics division.Under th...

Informa shares fall after it rejects takeover bid

Shares at Informa PLC, the London-based publisher of Lloyd's List maritime newspaper, fell almost 7 percent on Friday after the company rejected a reduced $3.4 billion take...

US stocks look to extend losses ahead of job data, Joe Bel Bruno

Wall Street looked to extend its losses on Friday, with investors worried that the government's August jobs report will indicate that the economy is in recession.Inv...

Oil falls ahead of OPEC meeting, Pablo Gorondi

Oil prices dropped below $107 a barrel Friday as the dollar continued to gain on the euro and investors waited to see if OPEC moves to restrict output next week amid a two-...

Asia, Europe markets sink after Wall Street plunge, Tomoko A. Hosaka

Asian stock markets plunged Friday in the wake of a sell-off on Wall Street amid mounting concerns about a slumping U.S. economy and its impact on global growth. European s...

Honda bringing back Insight nameplate for hybrid, Yuri Kageyama

Honda is bringing back the defunct Insight nameplate for a hybrid-only vehicle planned for the Japanese, European and North American markets early next year, as the automak...

AP Executive Morning Briefing

The top business news from The Associated Press for the morning of Friday, Sept. 5, 2008:Asian markets plunge after Wall Street sell-offTOKYO (AP) — Asian s...

Wet summer brings mushroom boom to Northeast, Michael Hill

There's a mushroom boom in the wet woods of the Northeast this summer.Hillsides bloom with black trumpets. Disc-shaped mushrooms called artist's conch sprout from tr...

Hanna heading toward US after blowing past Bahamas, Mike Melia

Tropical Storm Hanna was accelerating early Friday as it made its way toward the United States' southeast coast.The National Hurricane Center in Miami said only slig...

Asian markets plunge after Wall Street sell-off

Asian stock markets plunged Friday after more bad news on the U.S. economy, a vital export market, triggered a broad sell-off on Wall Street overnight.Disappointing ...

Oil steady in Asia ahead of OPEC meeting, Alex Kennedy

Oil prices were steady Friday in Asia below $108 a barrel as investors wait to see if OPEC moves to restrict output at its meeting next week amid a two-month plunge in pric...

Asian markets tumble after Wall Street sell-off

Asian stock markets plunged Friday after more bad news on the U.S. economy, a vital export market, triggered a broad sell-off on Wall Street overnight.Disappointing ...

Boeing, machinists union meet with mediator, Tim Klass

Representatives from Boeing Co. and the machinists union met with a federal mediator Thursday as the clock ticked on an unusual two-day contract extension after union produ...

Boeing, union in 48-hour contract overtime talks, Tim Klass

Representatives from Boeing Co. and the machinists union met with a federal mediator Thursday as the clock ticked on an unusual two-day contract extension after union produ...

Lloyd's of London push into emerging markets, Jane Wardell

Lloyd's of London, the world's biggest insurance market, signaled its intention to push its business in emerging markets in Asia and Latin America and oil rich countries in...

US regulators close Silver State Bank in Henderson, Nev.

WASHINGTON (Reuters) - Regulators closed SilverState Bank on Friday, the 11th U.S. bank to fail this yearas the struggling economy and falling home prices take theirtoll o...

U.S. filmmaker provisionally released in Nigeria

LAGOS, Sept 6 (Reuters) - Nigerian authorities provisionallyreleased a U.S. journalist late on Friday, almost a week afterhe was arrested for filming the army in the oil-p...

Boeing machinists to strike as contract talks fail

NEW YORK/EVERETT, Washington (Reuters) - BoeingCo's 27,000-strong machinists' union declared it willstrike at midnight Pacific time Friday, as the plane makerfailed to imp...

Wall St Week Ahead-Battered stocks face another tough week, Steven C. Johnson

NEW YORK (Reuters) - The bears have been in firmcontrol on Wall Street so far in September, and with anxietyabout the health of the U.S. and world economies on the rise,th...

U.S., Libyan relations 'off to a good start' -Rice

TRIPOLI (Reuters) - U.S. and Libyan relations are"off to a good start," Condoleezza Rice said Friday as shebecame the first U.S. secretary of state to visit the NorthAfric...

Boeing workers prepare to strike as deadline nears, Bill Rig And Laura Myers

NEW YORK/EVERETT, Washington (Reuters) - BoeingCo's machinists prepared for a strike Friday as theplane-maker and its largest union tried to hammer out alast-ditch deal o...

Safety compliance gaps noted for some US airlines

WASHINGTON (Reuters) - Three major airlines wereamong 11 U.S. airlines that failed during an unprecedentedindustry review to demonstrate full compliance with governmentsaf...

WRAPUP 5-McCain and Obama clash on U.S. economy

* After conventions, focus back on economy * McCain and Obama hit campaign trail * Palin takes swipe at Obama over Iraq war * FOP police union endorse...

REFILE-GLOBAL MARKETS-US stocks rebound on financials, oil falls

* U.S. stocks rebound as financials rise on Lehman report * Dollar retreats from 11-months highs on jobs report * Bonds fall on bet prices already reflect we...

US STOCKS-Dow, S&P end higher on financials, down for week

* U.S. data shows more labor market weakness * Fannie, Freddie backstop plan close -WSJ * Jobless rate jumps to 6.1 percent, 5-year high * Dow up 0.3 ...

GLOBAL MARKETS-U.S. stocks rebound on financials, oil falls

* U.S. stocks rebound as financials rise on Lehman report * Dollar retreats from 11-months highs on jobs report * Bond gains capped as weak U.S. labor data w...

US STOCKS-Financial rally lifts Dow, S&P; week ends lower

NEW YORK (Reuters) - U.S. stocks ended their worstweek in months with modest gains Friday, as bargain-huntingamong financial stocks offset a government report showingfurth...

WRAPUP 4-McCain and Obama clash on U.S. economy

* After conventions, focus back on economy * McCain and Obama hit campaign trail * Obama says Republicans avoided economy at convention * Palin takes ...

US voters say economy overshadows political hoopla, Andrea Hopkins

CINCINNATI (Reuters) - Trudy Tucker doesn't know ifthe back-to-back U.S. political conventions addressed thefinancial worries she has raising four children -- she was toob...

US STOCKS-Wall St flat as financials offset weak data

* Financial shares bounce, including Lehman * Bank may have buyers for real estate holdings * Nokia's warns on outlook for mobile phones * Dow flat, S...

Mexico court rules against Walmex worker vouchers

MEXICO CITY (Reuters) - Mexico's Supreme Courtruled that the country's top retailer, Wal-Mart de Mexico,violated the constitution by paying a worker in part with storecard...

GLOBAL MARKETS-Global stocks pressured as economic gloom mounts

* Global stocks down as growth fears feed investor angst * Dollar falls on weaker-than-expected August jobs report * Bond gains capped as weak U.S. labor dat...

US STOCKS-Wall Street cuts losses as financials bounce

NEW YORK (Reuters) - U.S. stocks pared losses involatile trade Friday, and the Dow briefly turned positive,as financial shares rose on short-covering, offsetting concernsa...

Oil falls $2 to 5-month low on economic gloom

* Dealers focus on soft oil demand, shrug Gustav impact * Traders await OPEC's decision next week * China slows fuel imports after Olympics (Updates prices w...

Continental introduces $15 fee for 1st checked bag

NEW YORK (Reuters) - Continental Airlines Inc said Friday it will charge a $15 service fee for afirst checked bag for certain customers who buy economy-classtickets.WRAPUP 3-McCain and Obama clash on U.S. economy

* After conventions, focus back on economy * McCain and Obama hit campaign trail * Obama camp criticizes McCain speech By John Whitesides, Poli...

US STOCKS-Job woes, Nokia fallout hit Wall St

* U.S. data shows more labor market decline * Jobless rate jumps to nearly 5-year high * Nokia's warns on outlook for mobile phones * Dow off 0.8 pct,...

Iraq eyes Lockheed F-16 fighter aircraft purchase, Jim Wolf

WASHINGTON (Reuters) - The Iraqi government hasasked for information about buying 36 F-16 fighter aircraftbuilt by Lockheed Martin Corp, the Defense Departmentsaid Friday....

US STOCKS-Wall St falls further on economic worry

NEW YORK (Reuters) - U.S. stocks extended lossesFriday, pushing the benchmark S&P 500 index down more than 1percent, as a government report showing growing job losses ...

U.S. home foreclosures reach record high

NEW YORK (Reuters) - U.S. home foreclosures and therate of homes entering foreclosure rose to record highs in thesecond quarter, the Mortgage Bankers Association said onFr...

US STOCKS-Wall St drops as weak jobs data sparks anxiety

NEW YORK (Reuters) - U.S. stocks opened lowerFriday after a government report showed the U.S. labor marketdeteriorated further in August, pushing the unemployment rateto i...

US STOCKS-Wall St set to slide at open on jobs data

* U.S. data shows unemployment rate at 4-1/2 year in Aug * Global growth concerns fuel global equity rout * Nokia's warns on outlook, adds to negative toneGLOBAL MARKETS-Weak U.S. jobs data hits stocks, boosts bonds

LONDON, Sept 5 (Reuters) - European stocks extended lossesand Wall Street looked set for a negative start on Friday afterU.S. jobs data showed the labour market had deteri...

US STOCKS-Futures dive on bleak August jobs data

NEW YORK (Reuters) - U.S. stock futures sharplyextended losses Friday as a government report showed theU.S. economy shed 84,000 jobs in August, significantly morethan econ...

Week ahead in Asia & Pacific from Sept 6

Following are some of the main Asia and Pacific news eventsexpected this week (all times GMT). - - - - - SATURDAY, Sept 6 ISLAMABAD - Pakistan preside...

US STOCKS-Nokia warning pushes futures down further

NEW YORK (Reuters) - U.S. stock futures fellfurther Friday after Nokia slashed itsthird-quarter market share outlook, heightening investors'concern about the global slowdo...

US STOCKS-Futures drop before jobs data; Merrill dives

* Caution before August payrolls report * Global stocks markets slide on growth worries * Merrill Lynch falls after being cut by Goldman * UST rises o...

WRAPUP 2-McCain pledges to change partisan Washington

* McCain borrows Obama's line, says "change is coming" * Pledges to cross party lines to lead nation * McCain and Palin hit campaign trail after conventionAustralia adviser urges cautious carbon targets, James Grubel

CANBERRA, Sept 5 (Reuters) - Australia's top climateadviser on Friday recommended carbon be sold for an initialA$20 ($16) a tonne from 2010, with only marginal increases f...

WRAPUP 1-McCain and Palin hit road after U.S. convention

* McCain and Palin hit campaign trail after convention * McCain borrows Obama's line, says "change is coming" * Anti-war protesters interrupt speech