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Suit against ex-Countrywide CEO to be held in Fla.

April 30, 2009 1:29 pm | by The Associated Press | News | Comments

TALLAHASSEE, Fla. (AP) — A federal court has ruled that Florida's lawsuit against the former chief executive of Countrywide Financial Corp. should be tried in state court.A federal court in California this week sent the state's lawsuit against former CEO Angelo R. Mozilo back to Florida's circuit...

Hog prices fall on swine flu worries

April 30, 2009 1:23 pm | by EMILY FREDRIX - AP Food Industry Writer - Associated Press | News | Comments

MILWAUKEE (AP) — Prices for U.S. hogs slipped on Thursday as concern deepened about swine flu's spread around the world, worrying traders that pork demand will drop as consumers shy away from the meat.U.S. health officials have said the H1N1 virus, which causes swine flu, can not be contracted by...

Thursday's Treasury bond market at a glance

April 30, 2009 1:23 pm | by The Associated Press | News | Comments

Key barometers in the Treasury market late Thursday, compared with late Wednesday. Price changes in the 10-year note and 30-year bond are per $1,000 invested:10-year bond -0.63 -7.1930-year bond -0.31 -11.56___Yield Pvs Session1-month bill 0.03 0.013-month bill ...

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Treasurys mixed after data on jobless claims

April 30, 2009 1:23 pm | by The Associated Press | News | Comments

NEW YORK (AP) — Treasurys ended mixed Thursday after data showed a surprise decline in jobless claims but also a drop in personal spending.In a positive sign for the economy, the Labor Department said initial jobless claims fell by 14,000 last week to 631,000. Economists had forecast an increase....

AOL names yet another head of online ad business

April 30, 2009 1:23 pm | by RACHEL METZ - AP Technology Writer - Associated Press | News | Comments

NEW YORK (AP) — AOL, the struggling Internet unit that Time Warner Inc. is likely to spin off, said Thursday that it will put a new executive in charge of its online advertising business — making him the fourth person to hold that title in little over a year.Former Google Inc. executive Jeff Levick...

How the major stock indexes fared Thursday

April 30, 2009 1:13 pm | by The Associated Press | News | Comments

Chrysler's bankruptcy put only a small dent in Wall Street's rally. The Dow Jones industrial average gave up early gains and ended only moderately lower on Thursday after President Barack Obama confirmed that Chrysler LLC will be going through a bankruptcy reorganization. The announcement was not...

Chiquita's 1Q net income falls 26 percent

April 30, 2009 1:13 pm | by The Associated Press | News | Comments

CINCINNATI (AP) — Chiquita Brands International Inc. said Thursday that its sales of bananas and packaged salads were stronger than expected in the first quarter, but the strong dollar dragged its net income down 26 percent.The earnings results handily beat analyst expectations, and Chiquita shares...

Under Armour recalls athletic cups

April 30, 2009 1:08 pm | by The Associated Press | News | Comments

WASHINGTON (AP) — Under Armour Inc. has issued a voluntary recall of more than 200,000 athletic cups as they can break when hit, posing a risk of serious injury to the wearer.Baltimore-based Under Armour said it has received five reports of cups breaking and one report of injury, which involved...

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With Lewis out as BofA chair, is CEO job at risk?

April 30, 2009 12:58 pm | by IEVA M. AUGSTUMS - AP Business Writer - Associated Press | News | Comments

CHARLOTTE, N.C. (AP) — Now that he's lost his title as Bank of America's chairman, Ken Lewis has to convince angry shareholders he should keep his job as CEO.Lewis couldn't escape investors' fury about his decision to buy Merrill Lynch & Co., although he says he was pressured by the government to...

Ford says Chrysler bankruptcy won't harm business

April 30, 2009 12:47 pm | by The Associated Press | News | Comments

DETROIT (AP) — Ford Motor Co. says it doesn't expect to experience disruptions in its supply chain due to Chrysler's bankruptcy filing.The Dearborn, Mich.-based company is the only U.S. automaker operating without government loans. Ford says it is monitoring the situation, and while it hopes...

12 nations top US list on copyright piracy

April 30, 2009 12:47 pm | by MARTIN CRUTSINGER - AP Economics Writer - Associated Press | News | Comments

WASHINGTON (AP) — China, Russia and Canada were among 12 countries targeted by the Obama administration Thursday for failing to sufficiently protect American producers of music, movies and other copyrighted material from widespread piracy.The U.S. placed the 12 nations on a "priority watch list"...

Comcast to carry NFL Network past deal deadline

April 30, 2009 12:47 pm | by DEBORAH YAO - AP Business Writer - Associated Press | News | Comments

PHILADELPHIA (AP) — Comcast Corp. said late Thursday that it will continue carrying the NFL Network even after their contract expires at midnight, as negotiations continue.Without an agreement, the nation's largest cable TV operator had said it would be required to pull the plug on the football...

Banks borrow more, investment firms less from Fed

April 30, 2009 12:37 pm | by JEANNINE AVERSA - AP Economics Writer - Associated Press | News | Comments

WASHINGTON (AP) — Commercial banks borrowed more over the past week from the Federal Reserve's emergency lending program, while investment firms borrowed less.The Fed reported Thursday that commercial banks averaged $44.8 billion in daily borrowing over the past week that ended Wednesday. That was...

Big brands feel pinch in sales as shoppers scrimp

April 30, 2009 12:16 pm | by DAN SEWELL - AP Business Writer - Associated Press | News | Comments

CINCINNATI (AP) — Shoppers around the globe are cutting down on optional purchases like fine fragrances and turning to cheaper store brands for everyday items like toilet paper, sapping sales for consumer stalwarts like Procter & Gamble, Colgate-Palmolive and Kellogg.P&G reported a drop in...

Gold falls as stocks stage early rally

April 30, 2009 12:11 pm | by SARA LEPRO - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Gold prices inched back below $900 an ounce on Thursday, falling as the dollar advanced against other major currencies and stocks staged an early rally.Other commodities, like oil and grain futures, finished higher.Gold prices have been trapped in a tight range of between $870 and...

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