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New York Times 1Q profit falls 51 pct

Apr 24, 2014

NEW YORK (AP) — The New York Times Co. said Thursday that its first-quarter net profit dropped 51 percent, as higher costs outpaced small increases in circulation and advertising revenue.

Times Co. earned $1.7 million, or 1 cent per share, down from $3.6 million, or 2 cents per share, in the same ...

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Amazon launches grocery service for Prime members

Apr 24, 2014

By MAE ANDERSON, AP Retail Writer

NEW YORK (AP) — Amazon is taking aim at grocery stores and discounters like Wal-Mart with a grocery service that lets its Prime loyalty club members fill up to a 45-pound box with groceries and get it shipped for a flat rate of $5.99.

The mega online retailer says ...

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FDA eases into regulating e-cigarettes

Apr 24, 2014

By MICHAEL FELBERBAUM, AP Tobacco Writer

WASHINGTON (AP) — The federal government's move to regulate e-cigarettes is a leap into the unknown.

Most everyone agrees a ban on selling them to kids would be a step forward. But health and public policy experts can't say for certain whether the electronic ...

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GM profit sinks; CEO sees no recall hit to sales

Apr 24, 2014

By TOM KRISHER and DEE-ANN DURBIN, AP Auto Writers

DETROIT (AP) — The cost of recalling nearly 7 million cars and trucks sank General Motors' first-quarter profit, but the company's CEO said the much-publicized recalls have yet to cut into sales.

GM on Thursday reported its worst financial results in ...

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Ladies Home Journal ceasing subscription service

Apr 24, 2014

By The Associated Press

Meredith Corp. says it is ending subscription service of "Ladies' Home Journal" due to declining advertiser interest.

The magazine was launched in 1883 and is one of the nation's oldest women's magazines. It remains quite popular with a current circulation of 3.2 million.

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For airlines not named United, it was a great 1Q

Apr 24, 2014

By DAVID KOENIG, AP Airlines Writer

DALLAS (AP) — Even with the turbulence of severe winter storms and stubbornly high fuel prices, many of the major airlines are cruising and their stock prices are soaring.

Mergers have reduced competition and made it easier for the airlines to limit the supply of ...

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Residents of Wyoming town allowed to return home

Apr 24, 2014

OPAL, Wyo. (AP) — Residents were allowed to return home Thursday, nearly 22 hours after an explosion at a natural gas processing plant forced the evacuation of their small southwestern Wyoming town.

Lincoln County spokesman Stephen Malik said that the evacuation order was lifted shortly after ...

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Russia's Putin calls the Internet a 'CIA project'

Apr 24, 2014

By NATALIYA VASILYEVA, Associated Press

MOSCOW (AP) — President Vladimir Putin on Thursday called the Internet a CIA project and made comments about Russia's biggest search engine Yandex, sending the company's shares plummeting.

The Kremlin has been anxious to exert greater control over the ...

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US journalist released in east Ukraine

Apr 24, 2014

MOSCOW (AP) — An American journalist who was held by pro-Russia insurgents in eastern Ukraine for several days says he has been released and is in good condition.

Simon Ostrovsky of Vice News told The Associated Press in a brief call Thursday that he had been freed and was heading to Donetsk, the ...

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Stocks mostly higher on earnings gains; Apple up

Apr 24, 2014

By KEN SWEET, AP Markets Writer

NEW YORK (AP) — Strong earnings from a number of U.S. companies including Apple and Caterpillar had stocks moving mostly higher Thursday afternoon. 3M was among those whose results disappointed investors.

The gains were modest as investors kept a close watch on ...

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Caterpillar 1Q profit climbs 5 pct, forecast rises

Apr 24, 2014

By TOM MURPHY, AP Business Writer

Caterpillar's first-quarter earnings rose 5 percent, and the construction equipment maker raised its 2014 forecast. But the company also said Thursday that a mining equipment sales slump is still hurting results.

The Peoria, Ill., company now expects 2014 earnings ...

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Aetna's 1Q profit jumps 36 pct, forecast climbs

Apr 24, 2014

By TOM MURPHY, AP Business Writer

Aetna's first-quarter net income soared 36 percent, fueled by gains from a multi-billion-dollar acquisition, and the health insurer hiked its 2014 earnings forecast above Wall Street estimates.

Its results breezed past analysts' expectations, and Aetna shares ...

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Marlboro maker Altria 1Q profit falls

Apr 24, 2014

By MICHAEL FELBERBAUM, AP Tobacco Writer

RICHMOND, Va. (AP) — Altria Group Inc.'s first-quarter profit dropped 15 percent as the Marlboro maker sold fewer cigarettes and its year-ago results benefited from lower expenses from a longstanding legal settlement.

The owner of the nation's biggest ...

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Applications for US unemployment aid jump to 329K

Apr 24, 2014

By CHRISTOPHER S. RUGABER, AP Economics Writer

WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits surged 24,000 to a seasonally adjusted 329,000 last week, though the gain likely reflected temporary layoffs in the week before Easter.

The Labor Department said Thursday that ...

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Mixed earnings news leaves stocks little changed

Apr 24, 2014

NEW YORK (AP) — Mixed earnings news from big U.S. companies left investors searching for direction in early trading, leaving major indexes little changed.

Raytheon fell 5 percent after its results for the first quarter came up short of what investors were expecting. 3M fell 2 percent after its ...

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China set to punish web giant Sina for pornography

Apr 24, 2014

BEIJING (AP) — China's official news agency says authorities plan to revoke two crucial publication licenses for web giant Sina.com because pornographic content was found on its sites.

Xinhua News Agency says the penalty might partially ban the web giant's operations.

Sina apologized Thursday ...

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Zimmer buying Biomet in deal valued at $13.35B

Apr 24, 2014

WARSAW, Ind. (AP) — Orthopedic device maker Zimmer is buying privately-held Biomet for about $13.35 billion in a move aimed at helping expand its product offerings and services.

Even though it is the buyer, Zimmer shares rose more than 16 percent in premarket trading Thursday.

Zimmer Inc. will ...

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UPS blames winter weather for drop in 1Q profit

Apr 24, 2014

By DAVID KOENIG, AP Airlines Writer

DALLAS (AP) — First-quarter revenue at UPS slumped 12 percent as winter storms increased costs for the shipping giant and cut into its revenue.

The Atlanta company said Thursday that the rough start to the year means that full-year earnings will come in at the ...

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3M 1Q results improve, but miss Street's view

Apr 24, 2014

ST. PAUL, Minn. (AP) — 3M's first-quarter net income rose 7 percent, led by sales growth in its health care business.

The maker of products from Post-it notes to industrial coatings and ceramics said Thursday that it earned $1.21 billion, or $1.79 per share, for the three months through March 31.

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Spanish economic growth seen fastest since 2008

Apr 24, 2014

MADRID (AP) — Spain's economy expanded by 0.4 percent in the first quarter, the Bank of Spain estimated Thursday, the fastest growth in six years and further evidence the recovery is gathering steam.

The quarterly rate was double that of the previous three-month period largely on the back of a ...

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