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  • MF Global Holdings to pay $1.21B in restitution Wednesday, 24 Dec 2014 | 1:39 PM ET

    The Commodity Futures Trading Commission said Wednesday that a New York court required the payment to ensure that claims made of its subsidiary, MF Global Inc., are paid. MF Global Inc. had already settled with the CFTC in 2013. It was required to repay $1.21 billion to its customers, plus a $100 million penalty. MF Global Holdings, the New York- based parent company,...

  • Appeals court: Staten Island toll discount allowed Wednesday, 24 Dec 2014 | 11:43 AM ET

    NEW YORK— Fare discounts offered to Staten Island residents and others for some New York City bridge crossings are constitutional, a federal appeals court said Wednesday, rejecting challenges from residents in four states who complained the practice was discriminatory. The 2nd U.S. Circuit Court of Appeals in Manhattan rejected claims by motorists in New...

  • Church-based institutions ponder same-sex benefits Tuesday, 23 Dec 2014 | 1:22 PM ET

    Many religious-based institutions are making no changes or sitting on the sideline, perhaps waiting to see if the U.S. Supreme Court will settle whether gay couples should be able to marry in every state. The University of Notre Dame almost immediately decided to offer benefits to same-sex spouses after a court ruling in October cleared the way for gay...

  • Work starts on disputed offshore windmill project Tuesday, 23 Dec 2014 | 12:25 PM ET

    ATLANTIC CITY, N.J.— Work began Tuesday on a proposed New Jersey wind power project that's still very much up in the air. The plan, rejected three times by New Jersey utility regulators, is the subject of a court appeal due to be heard in March. "This milestone marks the commencement of construction for Fishermen's Atlantic City wind farm, a project that will bring...

  • FBI raids Doral Bank offices in Puerto Rico Tuesday, 23 Dec 2014 | 12:08 PM ET

    SAN JUAN, Puerto Rico— FBI agents in Puerto Rico raided the headquarters of Doral Bank on Tuesday. Authorities declined to provide details about the investigation, though Rodriguez said it might be related to a probe into the June 2011 killing of New Jersey bank executive Maurice Spagnoletti. Doral Bank also has been involved in a multimillion-dollar feud with...

  • A lean Christmas for many laid-off casino workers Tuesday, 23 Dec 2014 | 11:02 AM ET

    ATLANTIC CITY, N.J.— One got her Christmas dinner handed to her a week in advance in foil containers from a union food bank. "It's definitely a tough Christmas this year," said Yomari Blanco, who was laid off in September from the housekeeping job she had at Trump Plaza for 18 years. Two weeks earlier, her husband lost his job when the Showboat Casino Hotel shut down, and he...

  • 13 primates die at South Texas research facility Monday, 22 Dec 2014 | 4:41 PM ET

    Covance, which is headquartered in Princeton, New Jersey, provides animal testing to aid in the development of drugs for an array of ailments, from heart disease to diabetes, said Covance spokeswoman Melissa Thompson. USDA is now considering what actions it should take, spokeswoman Tanya Espinosa said in a Monday. Federal guidelines require that animal...

  • WILMINGTON, Del., Dec 22- The Trump Taj Mahal, a casino hotel in New Jersey's struggling Atlantic City gambling hub, could stay open for all of 2015 with a $20 million financing package from investor Carl Icahn, lawyers for Trump Entertainment Resorts said on Monday. Atlantic City's fortunes have faded as competition from Pennsylvania and other neighboring...

  • HAVANA— Cuba said Monday that it has a right to grant asylum to U.S. fugitives, the clearest sign yet that the communist government has no intention of extraditing America's most-wanted woman despite the warming of bilateral ties. "We've explained to the U.S. government in the past that there are some people living in Cuba to whom Cuba has legitimately granted...

  • Trump Entertainment eyes new financing from Icahn Monday, 22 Dec 2014 | 12:57 PM ET

    WILMINGTON, Del.— Trump Entertainment Resorts says a new $20 million pledge by billionaire investor Carl Icahn will give it time to restructure while keeping the struggling Taj Mahal casino open. Trump attorneys said Monday that Icahn's proposal, $15 million more than his previous bankruptcy financing offer, runs through Dec. 31, 2015. The revised plan omits a...

  • FDA OKs Cubist antibiotic for serious infections Friday, 19 Dec 2014 | 6:34 PM ET

    TRENTON, N.J.— The Food and Drug Administration has approved a new medicine to fight complex infections in the abdomen and urinary tract, the fourth antibiotic the agency has approved since May. The approval of Zerbaxa on Friday is the second antibiotic approval this year for Cubist Pharmaceuticals, a drugmaker focused on antibiotics. It is being acquired for...

  • Lockheed Martin pays $27.5M in billing allegation Friday, 19 Dec 2014 | 6:31 PM ET

    NEWARK, N.J.— A subsidiary of defense contractor Lockheed Martin has agreed to pay $27.5 million to resolve allegations that it overbilled the government, federal prosecutors announced Friday. A message seeking comment left with Lockheed Martin wasn't immediately returned. The work was done at Fort Monmouth in New Jersey, and the Aberdeen Proving Ground in...

  • Recalls this week: Bean bag chairs, toy monkeys Friday, 19 Dec 2014 | 5:38 PM ET

    DETAILS: Bean bag chairs sold at Burlington Coat Factory, Kroger, Meijer and other retail stores nationwide and online at Amazon, Bean Bag Company, Groupon, Kohls, Target, Toys R Us, Walmart, Wayfair and other online retailers. They were sold between January 2010 and October 2013 for up to $40. FOR MORE: Contact Comfort Research at 844-578-8933 from 9 a.m. to 5 p.m. ET...

  • FDA approves AbbVie combo hepatitis C treatment Friday, 19 Dec 2014 | 3:35 PM ET

    TRENTON, N.J.— Patients with chronic hepatitis C have a new option for treating the liver-damaging virus, with the approval of a combination treatment developed by AbbVie. The Food and Drug Administration on Friday approved the sale of a packaged treatment called Viekira Pak made by AbbVie Inc. of North Chicago, Illinois. It includes a combination pill, which...

  • NEW YORK, Dec 18- Investors have wrung their hands over the last several weeks over the effect of lower oil prices on the broader S&P 500, but the relationship between the two is actually starting to break down. "The proof is that oil turned down and the market said,' Oh, that was yesterday's news, today we're moving ahead,"' said Quincy Krosby, market strategist at...

  • NEW YORK, Dec 19- U.S. homeowners suing mortgage companies once owned by a bank Wells Fargo& Co later acquired won a $54.8 million verdict on Friday in a class action over excessive fees. The verdict, by a federal jury in Manhattan, came in a long-running lawsuit by borrowers whose mortgages were owned or serviced by HomEq Serving or the lender whose loans it was...

  • AstraZeneca cancer drug, companion test approved Friday, 19 Dec 2014 | 1:24 PM ET

    TRENTON, N.J.— U.S. regulators on Friday granted accelerated approval to the first in a new class of targeted drugs for ovarian cancer, Lynparza from British drugmaker AstraZeneca PLC. The Food and Drug Administration also approved a companion diagnostic test from Myriad Genetics Inc. of Salt Lake City called BRACAnalysis CDx. Richard Pazdur, director of the...

  • New Jersey beach owner sues over dune project Friday, 19 Dec 2014 | 10:26 AM ET

    POINT PLEASANT BEACH, N.J.— A major Jersey shore beach owner is suing the state, the federal government and the borough of Point Pleasant Beach over a project to establish protective sand dunes along the state's shoreline. The work is being carried out by the U.S. Army Corps of Engineers as part of a beach replenishment project. John Buonocore Jr., a lawyer for the...

  • PATH stations reopening after Sandy repairs Friday, 19 Dec 2014 | 7:11 AM ET

    JERSEY CITY, N.J.— PATH's Exchange Place and World Trade Center stations reopen this weekend after nearly a year without weekend service because of Superstorm Sandy repairs and signal upgrades. The Port Authority of New York& New Jersey says approximately 280,000 square feet of metal tunnel surfaces and equipment were cleaned of salt residue left by Sandy and...

  • Gang accused of robbing New Jersey freight trains Friday, 19 Dec 2014 | 6:14 AM ET

    The 10 people arrested ran an enterprise that targeted shipping containers on CSX and Norfolk Southern trains, cutting locks and stealing high-end merchandise such as clothing, designer shoes, sneakers, watches, cologne, liquor and electronics, acting Hudson County Prosecutor Gaetano Gregory said. The goods were then loaded onto vans that would take them to...