AP Executive Morning Briefing

The top business news from The Associated Press for the morning of Friday, December 29, 2006:

AT&T Compromise May Get Merger Approved

WASHINGTON (AP) _ While much of Washington enjoyed a holiday break, lawyers for AT&T Inc. and the government worked marathon hours to forge an agreement that would allow the company to complete its $85 billion purchase of BellSouth Corp. The proposed deal could lead to the largest telecommunications merger in U.S. history.

___

Goodyear Workers OK New Contract

AKRON, Ohio (AP) _ Some Goodyear Tire & Rubber Co. workers said their new contract with the world's third largest tiremaker is a bittersweet ending to a 12-week strike. About 10,000 out of 14,000 striking United Steelworkers members from 12 Goodyear plants in 10 states voted Thursday night on the three-year agreement, which includes plans to close a Texas tire factory but creates a $1 billion health care fund for retirees. The contract was approved by all locals and by the overall membership by a two-to-one margin, the union said early Friday. Exact totals were not released. The contract needed to be approved by a majority of the locals plus a majority of the voters.

___

Comair Pilots: No Strike This Weekend

CINCINNATI (AP) _ Passengers booked on Comair flights won't have to worry about a pilots strike interrupting their air travel this holiday weekend. The Delta Air Lines Inc. subsidiary and leaders of the Air Line Pilots Association that represents Comair's 1,500 pilots have agreed to postpone the deadline for reaching a consensual wage-cutting deal.

___

Nasdaq to Close Tuesday for Ford Funeral

NEW YORK (AP) _ The Nasdaq Stock Market said Thursday it will close Tuesday as part of a national day of mourning to mark the funeral of President Gerald R. Ford. The New York Stock Exchange was yet to announce whether it will open Tuesday. It was expected that the stock exchanges would close out of respect for the 38th president. Financial markets have traditionally closed for presidential funerals, the last time being the burial of President Ronald Reagan in June 2004.

___

Exxon Mobil Asks Court for Leases

JUNEAU, Alaska (AP) _ Exxon Mobil Corp. wants a federal court to overturn the state's decision to revoke its leases in the North Slope's Point Thomson oil and gas field. In a court filing late last week, the company asked for the reversal or "in the alternative, to remand the matter to the commissioner with instructions to make a new and different decision."

___

Oil Prices Remain Above $60 a Barrel

SINGAPORE (AP) _ Oil prices rose slightly Friday, staying above $60 a barrel on the year's last trading day. Light sweet crude for February delivery was up 9 cents to $60.62 a barrel in Asian electronic trading on the New York Mercantile Exchange. February Brent at London's ICE Futures exchange slipped 2 cents to $60.65 a barrel.

___

J.C. Penney Fires COO Catherine West

PLANO, Texas (AP) _ Department-store operator J.C. Penney Co. said Thursday it fired its chief operating officer but gave no reason for the move. Catherine West, 47, who also held the title of executive vice president, had been COO since July. She had no retail experience before joining Penney. A two-sentence news release from Penney Thursday gave no explanation for West's firing, and the company declined to make Chairman and Chief Executive Myron E. Ullman III available for comment.

___

Tokyo Shares End 2006 Up 7 Percent

TOKYO (AP) _ Japan's main stock index ended a turbulent 2006 with a 7 percent gain for the year, logging its fourth straight year of growth despite an early sell-off sparked by an Internet startup scandal and a midyear slump over concerns of a U.S. economic slowdown. The benchmark Nikkei 225 stock index edged up 0.01 percent from Thursday to close at 17,225.83 points on the Tokyo Stock Exchange _ the index's highest close since early May, and a 6.9 percent rise for the year.

___

US Airways Not Upping Delta Offer Now

ATLANTA (AP) _ US Airways has no intention right now to increase its $8.4 billion offer for Delta Air Lines and it can't see itself backing out of its pursuit of Delta for any reason, Chief Executive Doug Parker said Thursday. In a wide-ranging telephone interview with Associated Press reporters, Parker said Tempe, Ariz.-based US Airways Group Inc. firmly believes that its offer for Atlanta-based Delta Air Lines Inc. provides more value than Delta's stand-alone plan.

___

Gazprom Warns Belarus Not to Siphon Gas

MOSCOW (AP) _ Russia's natural gas monopoly has warned Belarus not to siphon gas from the main pipeline leading across its territory to Europe if it goes ahead with a threatened supply cutoff on New Year's Day. The European Union and Germany, meanwhile, urged the neighbors to resolve their price dispute quickly and guarantee supplies.

___

Gold Prices

LONDON (AP) _ Gold bullion opened Friday at a bid price of $634.10 a troy ounce, up from $633.50 late Thursday.

___

Japan Markets

TOKYO (AP) _ Japanese stocks edged upward Friday to wrap up a turbulent 2006, with a key index ending 6.9 percent higher than the last day of trade last year.

___

Dollar-Yen

TOKYO (AP) _ The U.S. dollar fell slightly against the yen in Asian trading Friday on mild profit taking in reaction to recent gains.

A service of The Associated Press. Copyright 2006 All rights reserved.