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S&P 500, Dow Average Advance as Apple, Bank of America Gain

S&P 500, Dow Average Advance as Apple, Bank of America Gain The Standard & Poors 500 Index and Dow Jones Industrial Average advanced as shares of Apple Computer Inc. and Bank of America Corp. gained on earnings. The S&P 500 increased 2.96, or 0.2 percent, to 1312.89 as of 10:09 a.m. in New York. The Dow average rallied 56.98, or 0.5 percent, to 11,335.76. Apple, maker of iPod music players and Macintosh personal computers, climbed $3.73 to $69.38. Net income for the second quarter ended April 1 rose 41 percent to $410 million, or 47 cents a share, matching the

Aqua America reports 2005 financial gain

Aqua America reports 2005 financial gain Aqua America Inc., a publicly traded water utility serving more than 2.5 million customers in the eastern US, posted a financial gain in 2005, according to a March 9 company press release. Aqua America posted a net income of $91.2 million, an increase of 14 percent from 2004; the company also saw a jump in operating revenues, from $442 million in 2004 to $496.8 million in 2005, the release said. According to the release, Aqua America Chairman and CEO Nicholas DeBenedictis credits 30 acquisitions of water and wastewater systems with the company's financial success. More: watertechonline.com

Bank of America may cut up to 400 U.K. jobs

Bank of America may cut up to 400 U.K. jobs Bank of America Corp. could cut as many as 400 jobs in the United Kingdom as part of its Jan. 1 acquisition of MBNA Corp., the Charlotte bank told employees in that country last week.To meet regulatory requirements, Bank of America told workers it could eliminate 100 to 400 positions, 250 of which are currently vacant, spokeswoman Alex Liftman said. The jobs wouldn't be cut until spring. Bank of America has said it plans to eliminate 6,000 positions as part of its takeover of the credit card issuer, but has given few

Bank of America completes acquisition

Bank of America completes acquisition Bank of America Corp completed its acquisition of MBNA Corp in a deal worth about $US34.2 billion ($A46.77 billion), the second-largest US bank said. Bank of America now has 40 million active credit card accounts on its ledger, making it one of the leading worldwide payments-services companies and issuers of credit, debit and prepaid cards based on total purchase volume. "Today marks the start of an exciting new era for Bank of America in credit cards," said Kenneth Lewis, chairman and chief executive officer. "The combination of Bank of America's distribution platform and customer base with MBNA's products, affinity

Media Matters for America Places Ad Critical of Washington

Media Matters for America Places Ad Critical of Washington Media Matters for America -- the leading voice against conservative misinformation in the U.S. media -- is running an ad critical of a recent Washington Post editorial that promoted falsehoods directly contradicted by the papers own reporting. The ad by Media Matters appears on the Post web site, posing the question: Do Washington Post editorial writers read their own newspaper? The ad links to a Media Matters web page with more information about an April 9 Washington Post editorial, titled A Good Leak that contained numerous false claims about President Bushs authorization