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  • Proposed Illinois legislation would ban powdered alcohol Saturday, 24 Jan 2015 | 10:30 AM ET

    SPRINGFIELD, Ill.— A proposed Illinois law would ban the sale of powdered alcohol before it hits store shelves. Ira Silverstein, a Chicago Democrat sponsoring the measure, said he doesn't want the product to reach stores. His plan amends the state's Liquor Control Act of 1934, according to the Springfield bureau of Lee Enterprises Newspapers.

  • DIARY- Top Economic Events to Feb 10 Friday, 23 Jan 2015 | 7:00 PM ET

    DAVOS, Switzerland- Bank of England Governor Mark Carney to take part in panel discussion on "The Global Economic Outlook"- 1500 GMT. **DUSSELDORF, Germany- Deutsche Bundesbank board member Joachim Nagel speaks at the annual conference of the German-Chinese Economy, organized by Handelsblatt and HSBC- 1400 GMT. LUXEMBOURG- Central Bank of Luxembourg Governor and...

  • KANSAS CITY, Mo.— Twenty-eight oil companies and retailers have agreed to settle litigation claiming customers were knowingly overcharged when gas station fuel temperatures rose, plaintiffs announced Friday. Federal officials earlier consolidated about 50 lawsuits filed since 2006 from consumers across the country in the U.S. District Court in Kansas...

  • Atlantic City vs Detroit: Who is better off? Friday, 23 Jan 2015 | 5:22 PM ET

    Jan 23- "At least we're not Detroit," Atlantic City's Mayor joked just last week during his state of the city address. Yet by some measures, Atlantic City is in worse shape than Detroit, with which it shares such traits as a high poverty rate. While the Motor City's Big Three automakers emerged from crisis by the time Detroit was being restructured, Atlantic City's...

  • Jan 23- Moody's Investors Service slashed Atlantic City's credit rating six notches deeper into junk territory on Friday, a day after New Jersey Governor Chris Christie appointed an emergency manager with a mandate to consider a debt restructuring. Atlantic City has about $344 million of long-term debt outstanding. The order from Christie to consider a...

  • ATLANTIC CITY, N.J.— Wall Street is looking at Atlantic City's financial future and doesn't like what it sees. Moody's Investors Service on Friday lowered Atlantic City's bond rating by six steps, from Ba1 to Caa1, which is deep into junk territory. Chris Christie appointed corporate turnaround specialist Kevin Lavin as the city's emergency manager, and Kevyn...

  • Officials warn about New Jersey's roads and bridges Friday, 23 Jan 2015 | 11:10 AM ET

    Chris Christie's transportation commissioner, along with outside groups are stepping up warnings about the dire state of New Jersey's bridges, roads and tunnels. The trust fund brings in about $1.2 billion in revenue, but those funds pay down the program's debt, while new projects are paid for through bonding and cash infusions from the Port Authority of New...

  • Honeywell tops Street 4Q forecasts Friday, 23 Jan 2015 | 7:18 AM ET

    MORRISTOWN, N.J. _ Honeywell International Inc. on Friday reported fourth-quarter earnings of $956 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share. Honeywell expects full-year earnings in the range of $5.95 to $6.15 per share, with revenue in the range of $40.5 billion to $41.1 billion.

  • OceanFirst misses 4Q profit forecasts Thursday, 22 Jan 2015 | 5:18 PM ET

    TOMS RIVER, N.J. _ OceanFirst Financial Corp. on Thursday reported fourth-quarter net income of $4.9 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • ATLANTIC CITY NJ/ NEW YORK Jan 22- A new emergency management team for the casino resort town Atlantic City said it would take about six months for a turnaround plan to show results but it was' premature' to talk about bankruptcy for the city, which has seen gaming revenues decimated. New Jersey Governor Chris Christie on Thursday appointed a turnaround team,...

  • HOUSTON, Jan 22- Citgo Petroleum confirmed on Thursday its assets are no longer for sale after parent company PDVSA of Venezuela decided to cancel the offering despite receiving several bids, according to Thomson Reuters IFR. The $1 billion senior secured loan being proposed has a rate of Libor +800 basis points and a five-year term, Citgo said in New York,...

  • Powers of Atlantic City's new emergency manager Thursday, 22 Jan 2015 | 1:55 PM ET

    Chris Christie has appointed corporate turnaround specialist Kevin Lavin as the emergency manager for Atlantic City, and named Kevyn Orr, who helped Detroit through its municipal bankruptcy, as special counsel to Lavin. —Prepare within 60 days a plan to place the finances of Atlantic City in stable condition on a long-term basis by any and all lawful means,...

  • ATLANTIC CITY, NJ/ NEW YORK Jan 22- New Jersey Governor Chris Christie on Thursday appointed a turnaround team, including former Detroit emergency manager Kevyn Orr, for Atlantic City in a step the struggling casino town has resisted. The team will be led by Emergency Manager Kevin Lavin, who previously worked for business and turnaround consultancy FTI.

  • TRENTON, N.J.— The state Labor and Workforce Development Department says New Jersey lost 400 jobs in December, but the unemployment rate dropped to 6.2 percent from 6.4 percent in November. The unemployment rate has fallen 1 percentage point since December 2013 and is down 3.5 percentage points from December 2009. Chris Christie highlighted the falling rate in...

  • Bill to leave cap-and-trade program sees little support Thursday, 22 Jan 2015 | 11:07 AM ET

    CONCORD, N.H.— There was little public appetite at a hearing Thursday for a bill that would pull New Hampshire out of a multistate effort to reduce carbon emissions. New Hampshire is one of nine states participating in the Regional Greenhouse Gas Initiative, a system where each state sells carbon emission allowances to producers. New Hampshire gets about $18...

  • NEW YORK Jan 22- New Jersey governor Chris Christie plans on Thursday to introduce former Detroit emergency manager Kevyn Orr as part of an emergency management team for struggling Atlantic City, according to a press invitation to the event. A former corporate bankruptcy lawyer at the firm Jones Day, he most recently guided Detroit through the biggest-ever...

  • ATLANTIC CITY, N.J.— In naming an emergency manager for Atlantic City on Thursday, New Jersey Gov. Neither man would say whether a Detroit-style bankruptcy filing is in store for Atlantic City, calling such talk premature. But the emergency order Christie issued gives Lavin the power "to place the finances of Atlantic City in stable condition on a long-term basis...

  • CONCORD, N.H.— Mitt Romney launched his last campaign for president at a New Hampshire farm, relied upon a New Hampshire victory to fuel his strategy to win the nomination and even posed the photos of his last family Christmas card on the shores of a New Hampshire lake where he still owns a home. But whatever home-field advantage the Republican Party's 2012 nominee...

  • Jan 21- Google Inc and Viacom Inc won the dismissal of a nationwide privacy lawsuit accusing them of illegally tracking the Internet activity of boys and girls who visited Nickelodeon's website, in order to send targeted advertising. The lawsuit claimed that Viacom secretly kept track of children under the age of 13 who streamed videos and played video games...

  • Jan 21- Google Inc and Viacom Inc won the dismissal of a nationwide privacy lawsuit accusing them of illegally tracking the Internet activity of boys and girls who visited Nickelodeon's website, in order to send targeted advertising. The lawsuit claimed that Viacom secretly kept track of children under the age of 13 who streamed videos and played video games...