American Airlines agrees to 3100 flight attendant layoffs
In Dallas American Airlines began laying off more than 3100 flight attendants after a federal judge refused to block the cuts. Many had previously worked for Trans World Airlines before its 2001 acquisition. Unionized staff at bases nationwide end their last shifts, turn in uniforms and badges, and fear financial hardship while the carrier seeks profitability.
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Dallas
American Airlines
Trans Word Anlines
American
TWA
St. Louis
Julia Bishop Cross
Farmers to resume limited Texas homeowners policies
Farmers Insurance Group, a top Texas homeowners insurer, will restart new policy writing on a limited basis. About 2,000 agents may issue up to 10 new homeowners policies through Aug 15, but only for auto policy holders. renters policies remain unlimited. Existing customers relocating within Texas or moving from out of state can also obtain homeowners coverage.
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Austin — Farmers Insurance Group
Farmers
Texas
Ex-Dynegy exec pleads innocent to charges
Jamie Olis a former Dynegy senior director of tax planning and VP of finance pleaded innocent to conspiracy and fraud charges stemming from a 2001 Enron style deal used to boost cash flow and reduce taxes. He appeared before U S Magistrate Calvin Botley as the case with two others moves toward trial set for August 4, with an eight week anticipated duration.
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Houston
Dynegy
Jamie Olis
U.S
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Associated Press
Nigeria Oil Workers Threaten Shutdown Amid Price Hikes
Crude oil futures rose as Nigerian oil workers warned of a total shutdown if government talks fail by Sunday. The 8 day general strike protests a 50 percent price rise for gasoline kerosene and diesel. Shell reported no production halt yet as fears of export disruption grow and markets note low U.S. inventories and Iraqi disruption. August crude closed at 30.40 a barrel after trading between 29.70 and 30.40.
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Dow Jones/AP
The
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Union
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Zone Energy
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BNP Paribas Futures
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Stocks rise as investors shrug weak spending data
Wall Street advanced on Tuesday with the Dow up 0.6 percent to 9040.95 and the Nasdaq 1.1 percent higher as late buying offset weak May construction spending and a cooler ISM manufacturing reading. Analysts cautioned that progress hinges on stronger economic proof and upcoming earnings. Starbucks, Boeing, Cheesecake Factory, and SAP moved on ratings changes, while overall sentiment favored an improving economy despite mixed data.
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Boeing's Stock Rating To “Hold” From “Sell.” But Cheesecake Factory
SAP AG
J.P. Morgan
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