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  • Nov 25- New Jersey's retirement system for public employees is in worse shape than previously reported, thanks to recent accounting changes that are starting to be rolled out across the country. Under new pension accounting standards, issued by the Government Accounting Standards Board, the New Jersey system's overall funded level stands at 44 percent for...

  • Icahn: Taj Mahal 'a bad investment for me' Tuesday, 25 Nov 2014 | 4:55 PM ET

    ATLANTIC CITY, N.J.— Billionaire Carl Icahn says buying Atlantic City's Trump Taj Mahal casino would be "a bad investment for me." Icahn would swap the $286 million in Trump Entertainment debt he owns for ownership of the company and would invest $100 million into it. But that deal is contingent on obtaining significant tax breaks from state and local governments— a...

  • Trump casinos, Atlantic City agree on tax sale Tuesday, 25 Nov 2014 | 3:18 PM ET

    ATLANTIC CITY, N.J.— Bankrupt Trump Entertainment Resorts and the city of Atlantic City have reached a deal to let the city collect unpaid taxes. The deal was approved Tuesday afternoon by a Delaware bankruptcy court judge. The Trump Taj Mahal is scheduled to close Dec. 12, unless a deal can be reached with its main union regarding the restoration of health...

  • Lawmakers seek roadmap to fund transportation Tuesday, 25 Nov 2014 | 2:39 PM ET

    TRENTON, N.J.— New Jersey lawmakers continue to weigh a number of options aimed at paying for transportation projects across the state, including some that could hit drivers' wallets when they go to fill their gas tanks. Meanwhile, the program to finance roads and bridges also includes debt— a combination of bonds and cash from the Port Authority of New York and New...

  • Bankruptcy wrangling for ex-Trump, Revel casinos Tuesday, 25 Nov 2014 | 12:32 PM ET

    ATLANTIC CITY, N.J.— Some of the hottest action in Atlantic City involves closed casinos in bankruptcy court, where Donald Trump is trying to recoup rent he paid on a driveway and the city is fighting to collect more than $50 million in unpaid taxes. Despite maintaining that a division of Trump Entertainment Resorts— the company he once ran but no longer has...

  • Trump seeks repayment of $150K in driveway rent Tuesday, 25 Nov 2014 | 11:51 AM ET

    ATLANTIC CITY, N.J.— Donald Trump is seeking to get back nearly $150,000 in rent he had to pay on a driveway leading to the now-closed Trump Plaza casino in Atlantic City. In a filing with a Delaware court hearing the bankruptcy of Trump Entertainment Resorts, the real estate mogul says he paid $147,000 to the landlord of a driveway at the casino.

  • Revel fights city's collection of back taxes Tuesday, 25 Nov 2014 | 11:28 AM ET

    ATLANTIC CITY, N.J.— The former Revel Casino Hotel is trying to block Atlantic City from collecting $32 million in unpaid property taxes. The owners of the former Atlantic City casino, which closed on Sept. 2, filed an appeal Monday of a bankruptcy court order letting Atlantic City hold a tax sale of the unpaid debt. Complicating things is the fact that a deal to sell...

  • New Jersey Resources posts 4Q loss Tuesday, 25 Nov 2014 | 7:31 AM ET

    WALL, N.J. _ New Jersey Resources Corp. on Tuesday reported a loss of $24.4 million in its fiscal fourth quarter. On a per-share basis, the Wall, New Jersey- based company said it had a loss of 58 cents. New Jersey Resources shares have increased 24 percent since the beginning of the year.

  • Campbell tops Street 1Q forecasts Tuesday, 25 Nov 2014 | 7:27 AM ET

    CAMDEN, N.J.— CAMDEN, N.J.— Campbell Soup Co. on Tuesday reported fiscal first-quarter earnings of $234 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share. Analysts expected $2.22 billion, according to Zacks.

  • Movado misses 3Q profit forecasts Tuesday, 25 Nov 2014 | 7:24 AM ET

    PARAMUS, N.J. _ Movado Group Inc. on Tuesday reported profit of $22.2 million in its fiscal third quarter. For the current quarter ending in January, Movado expects its per-share earnings to range from 18 cents to 23 cents. Movado expects full-year earnings in the range of $1.80 to $1.85 per share, with revenue ranging from $585 million to $590 million.

  • Storm may snarl trip for Thanksgiving travelers Tuesday, 25 Nov 2014 | 1:01 AM ET

    MINEOLA, N.Y.— Thanksgiving travelers scrambled to change their plans and beat a storm expected to bring snow, slush and rain to the crowded Washington- to- Boston corridor Wednesday on one of the busiest, most stressful days of the year. Forecasters said major Northeast cities will probably see moderate to heavy rain most of the day, though New York and other places...

  • Bayer: FDA will speed review of 2 respiratory meds Monday, 24 Nov 2014 | 5:51 PM ET

    WHIPPANY, N.J.— Two medicines Bayer HealthCare Pharmaceuticals Inc. is testing for respiratory disorders will get priority review by U.S. regulators and other benefits under a 2012 program to boost development of new antibiotics. Bayer HealthCare, based in Whippany, New Jersey, said Monday the Food and Drug Administration has designated two of its...

  • Atlantic City casino profits up in 3rd quarter Monday, 24 Nov 2014 | 3:26 PM ET

    ATLANTIC CITY, New Jersey— Atlantic City's casino industry saw its operating profits rise in the third quarter of this year, helped by Internet gambling money and the absence of large losses racked up last year by weaker casinos. The eight casinos currently operating in Atlantic City posted a gross operating profit of $152.3 million in the third quarter, an...

  • GOP wisdom shifts on immigration Monday, 24 Nov 2014 | 2:05 PM ET

    Less than two years ago, party leaders solemnly declared after an exhaustive study that the GOP "must embrace and champion comprehensive immigration reform." Scott Walker, who is considering a 2016 White House bid, said alongside nodding colleagues at the Republican Governors Association annual conference in Florida. Having claimed the Senate majority in...

  • Merck, Iowa firm sign Ebola vaccine licensing deal Monday, 24 Nov 2014 | 1:28 PM ET

    TRENTON, N.J.— Merck& Co., a top creator and seller of vaccines, has joined the fight against Ebola, the often-fatal hemorrhagic virus that's been ravaging parts of West Africa for months. The exclusive deal involves rVSV-EBOV, a vaccine candidate under early development by BioProtection Systems, the vaccine-development subsidiary of NewLink Genetics Corp. of...

  • Offshore wind turbines more likely as auction set Monday, 24 Nov 2014 | 1:03 PM ET

    BOSTON— Massachusetts is one step closer to seeing its coastline waters dotted with wind turbines as federal officials announced Monday that an auction date has been set for wind energy leases to develop more than 742,000 acres off the coast. Deval Patrick said his administration has worked with federal, state, tribal, industry and community representatives...

  • FDA strengthens warning on device linked to cancer Monday, 24 Nov 2014 | 11:34 AM ET

    The Food and Drug Administration updated its April safety warning, saying doctors should not use the devices, called laparoscopic power morcellators, for performing a hysterectomy or removing uterine fibroids "in the vast majority of women." Maisel said the FDA is recommending that makers of laparoscopic power morcellators immediately include in the...

  • Tribe becomes 1st to launch online gambling in NJ Monday, 24 Nov 2014 | 10:30 AM ET

    ATLANTIC CITY, N.J.— California's Pala Indians have launched their Internet gambling site in New Jersey following a test period last week, becoming the first tribe to do so in the state. The Pala Band of Mission Indians received permission late Friday from New Jersey gambling regulators for a full launch of the website in a partnership with Atlantic City's...

  • COLUMN-Oil in Arcadia: John Kemp Monday, 24 Nov 2014 | 9:05 AM ET

    Some of that crude came from states such as North Dakota, Texas and Alaska, and the rest from foreign suppliers like Canada, Saudi Arabia, Venezuela and Nigeria. On Saturday, the New York Times published a carefully researched essay chronicling "The Downside of the Boom" about how " North Dakota took on the oversight of a multi-billion dollar oil industry with a...

  • Health care M&A leads global deal surge Sunday, 23 Nov 2014 | 9:01 AM ET

    "Health care has been a sleepy niche of M&A until recently, but the giant has been awakened," says Ken Menges, a senior partner handling M&A at law firm Akin Gump in New York. To a large extent, the deals are being driven by "cost pressure on the entire health care system," as insurers and government health plans increasingly hold down or even reduce reimbursements to drug,...