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  • Icahn aide: Taj has to close if union pact remains Tuesday, 14 Oct 2014 | 2:30 AM ET

    Trump Entertainment Resorts and billionaire investor Carl Icahn want the judge to cancel the casino's union contract, saying it can't survive without shedding costly pension and health care obligations. Bankruptcy Judge Kevin Gross on Tuesday that Trump Entertainment needs the financial relief that breaking the union contract would provide.

  • Commuter train engineers reach deal with SEPTA Monday, 13 Oct 2014 | 3:09 PM ET

    PHILADELPHIA— Engineers who operate commuter trains in the Philadelphia area reached a tentative contract with the Southeastern Pennsylvania Transportation Authority, union and transit officials said Monday, meaning passengers can continue riding the rails without fear of another strike if the pact is accepted. "This agreement keeps the trains rolling...

  • CORRECTION: Dogfish Head CEO story Monday, 13 Oct 2014 | 11:44 AM ET

    MILTON, Del.— In a story Oct. 9 about Dogfish Head Craft Brewery naming a chief executive officer, The Associated Press, relying on a member story, reported erroneously that founder Sam Calagione had stepped down as CEO of the brewery. MILTON, Del.— Delaware's Dogfish Head Craft Brewery has named a chief executive officer for the first time. Nick Benz was promoted to CEO...

  • Oct 10- A Delaware judge said Royal Bank of Canada must pay $75.8 million in damages to former shareholders of Rural/Metro because it failed to disclose conflicts of interest that tainted the $438 million buyout of the ambulance operator. Delaware Court of Chancery Vice Chancellor Travis Laster found that the value of Rural/Metro shares were $21.42 at the...

  • Oct 10- GT Advanced Technologies Inc said it will cut 890 jobs, close an Arizona plant expected to make scratch-resistant screens for Apple Inc, and suggested it could pursue legal claims against the iPhone maker while revamping under bankruptcy. "GT believes that it has many claims against Apple arising out of its business relationship with Apple," the company...

  • Oct 10- GT Advanced Technologies Inc said it will cut 890 jobs, close an Arizona plant expected to make scratch-resistant screens for Apple Inc, and suggested it could pursue legal claims against the iPhone maker while revamping under bankruptcy. "GT believes that it has many claims against Apple arising out of its business relationship with Apple," the company...

  • Bose agrees to dismiss lawsuit against Beats Friday, 10 Oct 2014 | 12:18 PM ET

    DOVER, Del.— Attorneys for Bose Corp. and Beats Electronics have agreed to dismiss a patent infringement lawsuit filed by Bose. Bose filed a parallel complaint with the International Trade Commission seeking to halt U.S. imports of Beats Studio and Beats Studio Wireless headphones. Apple announced in May that it was buying Beats Electronics for $2.6 billion in...

  • Icahn: Senate leader 'selling out' Atlantic City Friday, 10 Oct 2014 | 12:10 PM ET

    ATLANTIC CITY, N.J.— Carl Icahn accused New Jersey's Senate president of "selling out" Atlantic City by considering casinos near New York City, while the legislative leader said the state wouldn't give the billionaire investor the tax breaks he is seeking. Icahn said Sweeney, who is also a union leader, "is selling out Atlantic City" by publicly considering...

  • ORLANDO/ LOS ANGELES, Oct 10- Darden Restaurants Inc lost its standoff with activist shareholder Starboard Value LP at its annual meeting on Friday, when stakeholders tossed out the Olive Garden parent's entire board in a rare victory for dissident investors. It also is a stinging defeat for Darden, which earlier this year alienated many investors by brushing...

  • Rival gun measures on ballot in Washington state Friday, 10 Oct 2014 | 3:36 AM ET

    OLYMPIA, Wash.— Two competing measures on the Washington state ballot this fall ask voters to take a stance on expanded background checks for gun sales. Supporters of the initiative to expand background checks have received large donations from wealthy figures, including Microsoft co-founders Bill Gates and Paul Allen, and have spent millions, far outpacing...

  • Oct 7- An affiliate of Brookfield Asset Management got court approval to buy Atlantic City, New Jersey's shuttered Revel Casino Hotel for $110 million in cash on Tuesday after a judge rejected complaints the auction for the bankrupt complex was tainted. "I have heard evidence to satisfy me that the sale to Brookfield should be confirmed," said U.S. Bankruptcy...

  • Oct 7- An affiliate of Brookfield Asset Management on Tuesday got court approval to buy Atlantic City, New Jersey's shuttered Revel Casino Hotel for $110 million in cash after a judge rejected complaints the auction for the bankrupt complex was tainted. The losing bidder, Glenn Straub of Florida, objected because he said the auction was unfair.

  • NEW YORK, Oct 6- Creditors of bankrupt wireless company LightSquared and the company's owner, Harbinger Capital Partners, will once again try to reach a mediated restructuring deal after a judge raised the prospect of converting the case to a Chapter 7 liquidation. With a deadline for confirming a plan just weeks away, Harbinger and two creditors, MAST Capital...

  • Oct 3- The Trump Taj Mahal casino failed on Friday to get immediate court approval to end its union pension obligations, a key condition for a $100 million rescue plan backed by billionaire investor Carl Icahn. The setback may be only temporary for Trump Entertainment Resorts Inc, bankrupt owner of the Taj Mahal. Bankruptcy Judge Kevin Gross in Wilmington,...

  • Oct 3- Trump Taj Mahal failed on Friday to get approval from a U.S. Bankruptcy judge to end payments to the casino's union pension fund, which had been a key condition for a Carl Icahn- backed deal to rescue the gambling complex in Atlantic City, New Jersey. Bankruptcy Judge Kevin Gross in Wilmington, Delaware, said he lacked authority to allow Trump Entertainment...

  • WASHINGTON, Oct 2- Taking up a case closely watched by banks and insurance companies, the U.S. Supreme Court agreed on Thursday to decide whether federal housing law permits racial bias claims based on seemingly neutral practices that may have a discriminatory effect. The nine justices will consider whether the state of Texas violated the Fair Housing Act by...

  • Oct 1- A federal jury on Wednesday said Philips Electronics NA should pay $466.8 million to Masimo Corp for having infringed two patents for technology used to help measure blood oxygen and track pulse rates. Shares of Masimo closed 12.9 percent higher, rising $2.74 to $24.02 on the Nasdaq. Jurors in Wilmington, Delaware needed less than a day of deliberations...

  • Oct 1- A federal jury on Wednesday said Philips Electronics NA should pay $466.8 million to Masimo Corp for having infringed two patents for technology used to help measure blood oxygen and track pulse rates. Shares of Masimo closed 12.9 percent higher, rising $2.74 to $24.02 on the Nasdaq. Jurors in Wilmington, Delaware needed less than a day of deliberations...

  • Oct 1- A former executive at GSI Commerce Inc was sentenced on Wednesday to 15 months in prison for insider trading related to the 2011 takeover of the e-commerce company by online retailer eBay Inc..

  • Oct 1- An affiliate of Brookfield Asset Management won the auction for Atlantic City, New Jersey's bankrupt Revel Casino Hotel with a $110 million bid, but within hours the losing bidder told Reuters he planned to fight the sale. Asked if he would challenge the auction result in court, Florida developer Glenn Straub told Reuters by phone: "absolutely."