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Around the business world

Daily Staff Report

UAW chief: Auto industry woes mean union must accept big changes: LAS VEGAS – United Auto Workers union President Ron Gettelfinger is expected to call on members to draw on the union’s history to fight political and corporate decisions that are attacking the American working-class standard of living.Federal jury looking at link between welding fumes, neurological disease: CLEVELAND – In a closely watched case unfolding in federal court, a jury is being asked to take up an intriguing question that has confounded medical researchers: Can welding fumes cause neurological diseases such as Parkinson’s?Late on payments? System won’t let car engine start: LIMERICK, Pa. – A starter-interrupt device might be required for people with poor credit history. If they miss a weekly lease or purchase payment, the device would not let their cars start. The major manufacturers of the device report double-digit increases in sales so far this year, compared with the same period a year ago. An estimated 1 million are in use today.Sarbanes Oxley may have ended options backdating, but fortuitous dating continues: WASHINGTON – Executives guaranteed to be “in the money.” Betting on a horse race after it’s been run. The latest cases of possible manipulation of stock options appear to involve a novel twist that is taking the growing scandal down a new path as the government’s investigations widen.Monster stock options being reviewed: NEW YORK – Monster Worldwide Inc., parent of online job search site Monster.com, said a committee of independent directors is conducting an internal review and analysis of all previously issued stock option grants.Canadian billionaire dies: MONTREAL – Billionaire Ken Thomson, whose worldwide business empire once included the Canadian newspaper group founded by his father, has died at age 82.Virus highlights problems of Internet security, safety for Japan: TOKYO – A computer virus that targets the popular file-sharing program Winny isn’t the most destructive bug or even the most widespread. But it’s the most talked about in Japan as it generates headline after headline, month after month. The malware, called Antinny, finds random files on Winny users’ PCs and makes them available on the file-sharing network. Wall Street still worried: NEW YORK – Wall Street meandered in nervous trading as inflation fears kept investors on edge following hefty losses last week, the worst so far in 2006.Oil prices fall slightly: NEW YORK – Crude oil futures fell Monday as traders shrugged off the potential impact the first named storm of the Atlantic hurricane season would have on petroleum output, but analysts said the market’s broader trend remains murky.Outsourcing firms move beyond Western accents: BOMBAY, India – Junk the fake accent, young workers in India’s booming outsourcing industry are being told, and instead speak up, speak clearly and get to the point. Indian workers are known to shrink from being direct with customers or bosses, a cultural trait leaders of India’s booming outsourcing business say must change and make the leap to helping clients build stronger businesses by adding value to low-cost services.Mexico stands at crossroads: oil boom may lead to bust: MEXICO CITY – In the midst of Mexico’s biggest oil boom since the 1970s, the nation’s top two presidential candidates are debating whether to turn outward and open oil to private investors – or inward by exporting less crude and giving Mexicans subsidized gasoline. The question revolves around nationalist pride as well as pump prices, but the real challenge lies in finding new deposits to replace rapidly declining output.Russian oil company reports increased profits: MOSCOW – Russian oil company OAO Rosneft reported a 10 percent increase in first-quarter net profit as it confirmed plans for its highly anticipated initial public offering and said shares would be offered in both London and Moscow beginning July 14.Japan economy picking up steam: TOKYO – Japan’s economy grew at much faster pace in the first quarter than initially thought, authorities said, offering new evidence that the world’s second-largest economy is emerging from a decade of economic stagnation.India’s economy still running strong: NEW DELHI – India’s industrial growth accelerated to 9.5 percent in April, suggesting the momentum seen in the past year was continuing, government data showed, but experts feared rising oil prices and interest rates could slow the expansion in coming months.Vail, Colorado


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