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New Web site for Michigan seniors is launched

May 5, 2009 4:42 am | by DAVID EGGERT - Associated Press Writer - Associated Press | News | Comments

LANSING, Mich. (AP) — Michigan seniors can visit a new Web site to find information ranging from a guide to nursing homes to how to avoid scams.State Attorney General Mike Cox on Monday announced the launch of www.seniorbrigade.com.His office spent two years creating the site, which has the support...

AK Steel cuts its second-quarter outlook

May 5, 2009 4:42 am | by DANIEL LOVERING - AP Manufacturing Writer - Associated Press | News | Comments

PITTSBURGH (AP) — Production cuts at General Motors Corp. and Chrysler LLC will leave AK Steel with a larger-than-expected loss in the second-quarter, the steel maker said Tuesday.AK Steel Holding Corp., which generates about a third of its revenue from the troubled automotive industry, has been...

GMAC won't necessarily follow GM to Chapter 11

May 5, 2009 4:37 am | by BREE FOWLER - AP Auto Writer - Associated Press | News | Comments

NEW YORK (AP) — GMAC Financial Services said Tuesday that it will not be automatically be forced to file for bankruptcy protection if General Motors Corp. is unable to restructure itself by its government imposed deadline.Robert Hull, the company's chief financial officer, said that while a Chapter...

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Amylin seeks FDA OK on once-weekly diabetes drug

May 5, 2009 4:32 am | by DAMIAN J. TROISE - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Biotechnology company Amylin Pharmaceuticals Inc. said Tuesday it asked the Food and Drug Administration to approve its highly anticipated once-weekly injectable diabetes treatment exenatide LAR.The drug is an extended version of the twice-daily injectable drug Byetta, a version of...

MillerCoors 1Q profit rises on higher prices

May 5, 2009 4:06 am | by The Associated Press | News | Comments

DENVER (AP) — Molson Coors Brewing Co. and SABMiller PLC said Tuesday that the first-quarter profit for their U.S. joint venture MillerCoors LLC rose 51 percent as sales of Coors Light and other brands were helped by higher prices and fewer promotions.MillerCoors, the nation's second-largest beer...

Tenet moves to profitability but admissions fall

May 5, 2009 4:01 am | by TOM MURPHY - AP Business Writer - Associated Press | News | Comments

INDIANAPOLIS (AP) — A debt swap and expense reductions helped push Tenet Healthcare Corp. to a first-quarter profit, but the hospital operator said Tuesday the slumping economy nibbled at patient admissions.Dallas-based Tenet lowered contract labor and malpractice costs, among other expenses,...

Archer Daniels Midland 3Q profit tumbles

May 5, 2009 3:51 am | by CHRISTOPHER LEONARD - AP Agribusiness Writer - Associated Press | News | Comments

ST. LOUIS (AP) — Archer Daniels Midland Co., a major corn and soybean processor and ethanol maker, said Tuesday its fiscal third-quarter profit tumbled an unexpectedly sharp 98 percent due to a drop in sales along with an unexpected tax payment and a loss on equity investments.The adjusted results...

Serbia's Central Bank challenges government

May 5, 2009 3:46 am | by The Associated Press | News | Comments

BELGRADE, Serbia (AP) — Serbia's National Bank is challenging government-imposed salary slashing at the Constitutional Court.The bank says that the measures jeopardize the independence of the central bank which is guaranteed by the constitution.Government officials have rejected the...

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Crisis forcing Asia to cut reliance on exports

May 5, 2009 3:40 am | by STEPHEN WRIGHT - AP Business Writer - Associated Press | News | Comments

BALI, Indonesia (AP) — Cutting Asia's reliance on exports for growth has taken on new urgency as the global economic crisis sends trade into a tailspin. But many economies in the region are unprepared for such a profound shift.As some 3,000 officials wrapped up the Asian Development Bank's annual...

Avon 1Q profit declines 36 percent as sales slip

May 5, 2009 3:35 am | by BETSY VERECKEY - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Avon Products Inc. on Tuesday said its first-quarter profit fell 36 percent, due to significant foreign exchange pressures and the impact of the global recession that dampened demand for the cosmetics company's products.Avon's profit missed Wall Street expectations, and its shares...

MillerCoors 1Q profit rises on better pricing

May 5, 2009 3:35 am | by The Associated Press | News | Comments

DENVER (AP) — Molson Coors Brewing and SABMiller say first-quarter profit for their U.S. joint venture MillerCoors rose 51 percent as sales of Coors Light, Miller Lite and other brands were helped by higher prices and fewer promotions.MillerCoors says it earned $206 million compared with year-ago...

Duke 1Q profit falls 26 percent as industry slows

May 5, 2009 3:30 am | by MARK WILLIAMS - AP Energy Writer - Associated Press | News | Comments

COLUMBUS, Ohio (AP) — Power generator Duke Energy said Tuesday that its first-quarter earnings fell 26 percent as a sour economy ate away at electricity demand for its industrial customers in the hard-hit areas of the Carolinas and the Midwest. The company also cited damage caused by winter...

CVS Caremark profit falls on costs, charges

May 5, 2009 3:20 am | by MARLEY SEAMAN - AP Health Writer - Associated Press | News | Comments

NEW YORK (AP) — CVS Caremark Corp. said Tuesday that charges and higher costs outweighed a boost in the drugstore operator's pharmacy sales, pushing first-quarter profit down slightly.But overall, CVS' results showed some resilience to the tough economy, which has battered even sales of essential...

Kraft Foods 1Q profit rises 10 percent

May 5, 2009 3:20 am | by EMILY FREDRIX - AP Food Industry Writer - Associated Press | News | Comments

MILWAUKEE (AP) — Kraft Foods Inc. said Tuesday its first-quarter profit rose 10 percent even as sales took a hit from the stronger dollar. The maker of Velveeta, Oreo cookies and Maxwell House coffee says it plans to focus on its core products, where it can make the most money, to emerge from the...

Report: Financial Crisis could reshape biotech

May 5, 2009 3:15 am | by The Associated Press | News | Comments

NEW YORK (AP) — The U.S. biotech industry became profitable as a whole for the first time in 2008, a new report says, but the global financial crisis has led to a pullback in the investment that drives the industry's expensive research.Ernst & Young's global biotechnology report 2009, its 23rd...

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