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GM to temporarily shut 13 plants, cut production

April 23, 2009 10:05 am | by TOM KRISHER - AP Auto Writer - Associated Press | News | Comments

DETROIT (AP) — General Motors Corp. said Thursday it will temporarily close 13 assembly plants in the U.S. and Mexico — some for more than two months — laying off nearly 24,000 workers to pare back a bloated inventory.The closures, which will start in May, vary by factory from as short as three...

Obama pledges protections for credit-card users

April 23, 2009 10:00 am | by BEN FELLER - Associated Press Writer - Associated Press | News | Comments

WASHINGTON (AP) — President Barack Obama says he will push for a law to provide "strong and reliable" protections for the millions of Americans who have credit cards.The president on Thursday outlined his priorities after meeting with chief executives of the credit-card lending industry.Obama said...

Arch Coal set to release 1Q earnings

April 23, 2009 10:00 am | by JIM SUHR - AP Business Writer - Associated Press | News | Comments

ST. LOUIS (AP) — Arch Coal Inc., one of the world's biggest coal producers, reports earnings for the first quarter before the market opens Friday. The following is a summary of key developments and analyst opinion related to the period.OVERVIEW: Shares of major coal mining companies have been under...

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Royal Caribbean books 1Q loss but beats forecasts

April 23, 2009 9:54 am | by KRISTEN A. LEE - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Royal Caribbean Cruises Ltd., battered by a sharp and prolonged drop in vacation spending, said Thursday it lost less in the first quarter than expected as bookings stabilized and cruise costs declined more than anticipated.Travelers responding to aggressive discounts boosted...

California AG sues Wells Fargo subsidiaries

April 23, 2009 9:49 am | by The Associated Press | News | Comments

SAN FRANCISCO (AP) — California Attorney General Jerry Brown has sued subsidiaries of Wells Fargo & Co. for selling more than $1 billion in securities through allegedly deceptive advertising.The lawsuit filed in San Francisco Superior Court accuses Wells Fargo Investments LLC, Wells Fargo Brokerage...

Biden: States to use recovery money to manage aid

April 23, 2009 9:34 am | by BRETT J. BLACKLEDGE - Associated Press Writer - Associated Press | News | Comments

WASHINGTON (AP) — States responsible for more than a third of President Barack Obama's $787 billion stimulus program will be able to tap some of the recovery money to cover costs of managing the new spending, Vice President Joe Biden told Congress Thursday.Biden sent a letter to the Senate Homeland...

Denver online newspaper misses subscription goal

April 23, 2009 9:29 am | by The Associated Press | News | Comments

DENVER (AP) — The future of a Denver online news venture, meant to fill a void left by the closure of the Rocky Mountain News, remains uncertain after it fell short of its subscriber goal and at least some of the staff parted ways with its financial backers.With backing from three entrepreneurs,...

Dura-Shape Option

April 23, 2009 9:24 am | Rogers Corp. | Product Releases | Comments

Rogers Corporation (Rogers, CT) has achieved another technical first with its product line of PORON urethanes. The Dura-Shape option is a layer of polyester sealed between two layers of PORON foam which will help fabricators produce highly accurate gaskets. Features include:  

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Clorox sues SC Johnson over hiring away top exec

April 23, 2009 9:18 am | by DINESH RAMDE - AP Business Writer - Associated Press | News | Comments

MILWAUKEE (AP) — The Clorox Co. is suing Racine-based S.C. Johnson & Son Inc. over its hiring of a top Clorox executive.Clorox says Timothy Bailey — who resigned April 14 and received a "very attractive package" from SC Johnson, according to the complaint Clorox filed Tuesday in federal court — has...

New York Times chairman weighs in on Boston Globe

April 23, 2009 9:08 am | by The Associated Press | News | Comments

NEW YORK (AP) — Weighing in for the first time on the future of The Boston Globe, New York Times Co. Chairman Arthur Sulzberger Jr. said Thursday he hopes to cut the newspaper's expenses enough to avoid having to shut it down."We hope to place this great newspaper on a path to sustainability,"...

Ford VP expects same concessions as GM, Chrysler

April 23, 2009 8:58 am | by The Associated Press | News | Comments

EAST LANSING, Mich. (AP) — A Ford Motor Co. executive says the automaker expects to get the same deal as General Motors Corp. and Chrysler LLC if unions give more concessions to its rivals.Ford Vice President of Labor Affairs Marty Mulloy told reporters Thursday that "our expectation is we would...

Congress concerned about privacy over cable TV ads

April 23, 2009 8:58 am | by The Associated Press | News | Comments

Congress put cable TV operators on notice that it will scrutinize their plans to roll out targeted advertising to viewers, questioning whether they will use set-top boxes sitting in millions of homes to monitor and store what people watch.As part of a broader discussion Thursday over Internet...

Lawmakers want banks to report on bailout use

April 23, 2009 8:43 am | by JIM KUHNHENN - Associated Press Writer - Associated Press | News | Comments

WASHINGTON (AP) — Lawmakers pressed the Obama administration on Thursday to better track how financial institutions are using the government's financial bailout money, a step the Treasury Department has resisted despite demands from a federal watchdog agency."On a basic level, it's absolutely...

Slot maker IGT reports 44 percent drop in income

April 23, 2009 8:27 am | by SANDRA CHEREB - Associated Press Writer - Associated Press | News | Comments

RENO, Nev. (AP) — International Game Technology reported Thursday that its second-quarter earnings plunged 44 percent, and company executives cut their forecast for the fiscal year, as the global economic recession takes a continuing toll on the gambling industry.For the three-month period that...

Earnings Preview: Lorillard Inc.

April 23, 2009 8:22 am | by MICHAEL FELBERBAUM - AP Business Writer - Associated Press | News | Comments

RICHMOND, Va. (AP) — Lorillard Inc. reports first-quarter results on Monday. The following is a summary of key developments and analyst opinion related to the period.OVERVIEW: The maker of Newport cigarettes, based in Greensboro, N.C., reported in February that it held roughly 9.86 percent of the...

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