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  • July 17- Bahamas Prime Minister Perry Christie plans to take control of an unfinished $3.5 billion mega resort, currently tied up in a corporate bankruptcy process, and push it through to completion to help bolster his country's fragile economy. Talks this week in Beijing between the project's main lender, China's export import bank, and the developer, Sarkis...

  • July 17- Bahamas Prime Minister Perry Christie is moving to take control of an unfinished $3.5 billion mega resort that is weighing down his country's fragile economy. Talks this week in Beijing between the project's main lender, China's export import bank, and the developer, Sarkis Izmirlian, ended without resolving how to complete the resort, Christie said.

  • WASHINGTON, July 16- The number of Americans filing new applications for unemployment benefits fell more than expected last week and confidence among homebuilders held at a more than 9-1/ 2- year high in July, indicating underlying momentum in the economy. We look for the Federal Reserve to hike rates twice before the end of the year beginning in September, "said...

  • July 16- The troubled $3.5 billion Baha Mar resort project in the Bahamas is preparing to wind down operations and cut more than 2,000 jobs if the developer fails to strike a deal quickly with its main lender, China's Export Import Bank, according to U.S. bankruptcy court filings. But after missing that deadline, a cash crunch forced Izmirlian's Baha Mar Ltd to file...

  • Manufacturing growth in Philly area slows in July Thursday, 16 Jul 2015 | 10:17 AM ET

    WASHINGTON— Manufacturing growth in the Philadelphia region fell in July, a sign that factories are struggling to contribute much to the expanding U.S. economy. The Federal Reserve Bank of Philadelphia said Thursday that its index of factory activity fell to 5.7 in July from 15.2 the previous month. "Overall, we see manufacturing activity as still limping after...

  • NEW YORK, July 16- Factory activity in the U.S. mid-Atlantic region expanded in July at a slower pace than expected, and a measurement of employment contracted, a survey showed on Thursday. The survey covers factories in eastern Pennsylvania, southern New Jersey and Delaware. It is seen as one of the first monthly indicators of the health of U.S. manufacturing,...

  • DENVER— Colorado is known for pushing boundaries on marijuana, but health officials' decision to reject pot as a treatment for post-traumatic stress disorder shows the issue is far from settled. The state Board of Health voted 6-2 Wednesday against adding PTSD to the list of ailments eligible for treatment with medical marijuana. The Department of Health and...

  • NEW ORLEANS, July 14- Signal International will pay $20 million to settle lawsuits alleging fraud and labor trafficking by the Alabama oil rig repair company, which brought hundreds of Indian men to work on the Gulf Coast after Hurricane Katrina, attorneys for the plaintiffs said on Tuesday. "These workers have waited seven long years for justice," Jim Knoepp,...

  • Who owns a stock? Complex answer saves Dell millions Monday, 13 Jul 2015 | 2:17 PM ET

    July 13- The computer maker Dell Inc won a legal fight that may have saved its owners tens of millions of dollars with a complex answer to a seemingly simple question of who is the record holder of a stock. A ruling on Monday by a Delaware Court of Chancery judge removes several large investors from a consolidated lawsuit stemming from the $24.9 billion buyout of...

  • July 10- The developer of the unfinished $3.5 billion Baha Mar mega resort in the Bahamas has accused China Construction America of cutting power to the work site, inflating expenses and trying to steal documents stuffed in suitcases, U.S. court filings show. Baha Mar Ltd, the project's developer, detailed its allegations in court filings on Thursday as part of...

  • July 9- The U.S. government has agreed to take no near-term legal action against 40,000 former students of the bankrupt Corinthian Colleges Inc who have defaulted on federal loans, according to a lawyer representing students. Under Thursday's agreement, the Department of Education will suspend judicial debt collection efforts for 120 days against former...

  • July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. The court has approved the $22 million financing only on an interim basis, and has scheduled a final hearing on the debtor-in-possession financing for July 20, 2015, Molycorp said on Thursday.

  • WILMINGTON, Delaware, July 1- The bankrupt $3.5 billion Baha Mar mega resort in the Bahamas secured up to $30 billion in interim financing on Wednesday, but it was unclear when construction on the stalled project would resume. Baha Mar's developer, Sarkis Izmirlian, the son of Armenian billionaire Dikran Izmirlian, has agreed to arrange the funding.

  • NEW YORK, July 1- Two years after New York socialite Brooke Astor died in 2007, her son, Anthony Marshall, was convicted of bilking her of millions of dollars. Three states, most recently Missouri, have enacted laws that allow retail brokers to help curb scams against people with dementia. More than five million Americans over the age of 65 have Alzheimer's disease,...

  • NEW YORK, July 1- Two years after New York socialite Brooke Astor died in 2007, her son, Anthony Marshall, was convicted of bilking her of millions of dollars. Three states, most recently Missouri, have enacted laws that allow retail brokers to help curb scams against people with dementia. More than five million Americans over the age of 65 have Alzheimer's disease,...

  • China's big ambitions stumble at Bahamas resort Tuesday, 30 Jun 2015 | 3:02 PM ET

    Nassau, Bahamas/ Beijing June 30- China's push to extend its influence in the Western Hemisphere has hit an embarrassing setback at an unfinished, $3.5 billion resort and casino project in the Bahamas. And on Monday, Baha Mar Ltd, developer of the 2,323 room resort located along Cable Beach near downtown Nassau, filed for voluntary bankruptcy protection in a...

  • California tribe eyes bid for gun maker Colt Tuesday, 30 Jun 2015 | 1:00 PM ET

    "Colt is an iconic business and we're sort of intensely interested in helping a business like that," Drew Ryce, attorney for the Morongo Band of Mission Indians, told Reuters on Tuesday. Ryce said the Banning, California- based tribe was looking to diversify its economy and an East Coast manufacturer would balance the tribe's focus on retail, gambling and...

  • June 29- General Motors Co said a judge in Delaware has dismissed a lawsuit by shareholders who wished to recoup losses stemming from the recall of millions of vehicles with an ignition switch defect linked to several deaths. There are three other shareholder derivative actions, one in Wayne County, Michigan and two in Federal District Court for the Eastern...

  • WILMINGTON, Del., June 26- Molycorp Inc failed to get approval from a U.S. Judge Christopher Sontchi agreed with the objection by an affiliate of Oaktree Capital Management that Molycorp could not justify its need for the money, which would deepen the company's insolvency. Oaktree, which had loaned the company about $250 million in September, argued Molycorp was...

  • June 25- Texas' largest power company, Energy Future Holdings Corp, has scrapped a bankruptcy exit plan centered on the sale of its multibillion dollar power line stake and instead will pursue a reorganization, the company said in an internal memo on Thursday. The Luminant power generating business and its TXU retail utility would be spun off to the senior...