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"The economy is stronger than you think," said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ in New York. Initial claims for state unemployment benefits ticked up 2,000 to a seasonally adjusted 304,000 for the week ended April 12, the Labor Department said on Thursday, staying close to a 6-1/ 2 year low touched the prior week.
HARRISBURG, Pa.— Pennsylvania casinos are reporting a slight increase in revenue from table games. The Pennsylvania Gaming Control Board said Wednesday that revenue from table games totaled $67.9 million last month, up nearly 1 percent from a year ago.
US TREASURIES YIELDS RISE AFTER PHILADELPHIA FED DATA.
WASHINGTON— Applications for U.S. unemployment benefits increased slightly last week to a seasonally adjusted 304,000. The four-week average for claims dipped to its lowest level since October 2007, two months before the Great Recession began. California: Down 13,982, due to fewer layoffs in services. Iowa: Down 1,266, due to fewer layoffs in manufacturing.
NEW YORK, April 17- U.S. Initial claims for state unemployment benefits ticked up 2,000 to a seasonally adjusted 304,000 for the week ended April 12, the Labor Department said on Thursday. "There is follow-through from yesterday, there was significant selling in the middle of the curve," said Tom Tucci, head of Treasuries trading at CIBC in New York.
PHILADELPHIA— A popular Philadelphia chocolate maker and candy store has been shuttered by the city days before Easter. WPVI-TV said Wednesday the Department of Revenue revoked the business license of the Blasius Chocolate Factory in the city's Kensington neighborhood.
The Sierra Club, the American Lung Association and other groups say that proposed emissions limits for coal-fired power plants are too lax. The biggest plants would be allowed to release more than 130,000 tons of smog-causing nitrogen oxides annually— 40 percent more than they do now, according to an analysis by the Sierra Club.
*Prices fall as China growth beats expectations, stocks rise. NEW YORK, April 16- U.S. Better-then-expected growth in China, the world's largest economy, and a rally in Yahoo shares helped stocks rise for a third straight session.
WASHINGTON, April 16- U.S. economic activity picked up in recent weeks as a weather-related drag lifted, the Federal Reserve said on Wednesday. Chicago reported that growth had picked up, while New York and Philadelphia said activity had rebounded from slowdowns related to severe weather earlier in the year.
*Prices fall as China growth beats expectations, stocks rise. China, the world's second-largest economy, grew 7.4 percent in the January-March quarter from a year earlier, the National Bureau of Statistics said on Wednesday. "That momentarily took the air out of that move," said Jim Vogel, an interest rate strategist at FTN Financial in Memphis, Tennessee.
NEW YORK, April 16- Predicting when the bear market in biotech stocks will hit bottom is a hazardous prospect, but one gauge that factors in the rapid profit growth estimates for many of these companies suggests several are starting to look attractive.
*Prices gain as Ukraine tensions spark safety buying. Treasury debt prices gained on Tuesday as rising tensions in Ukraine sparked a safety bid for U.S. bonds, and a weak manufacturing survey for New York state pointed to sluggish economic momentum.
WASHINGTON, April 15- U.S. consumer prices firmed a bit in March, as food and housing rental costs rose in a possible sign that a disinflationary trend had run its course. "The sharp upswing in housing costs could be an early signal of a more sustained push higher in inflation," said Millan Mulraine, deputy chief economist at TD Securities in New York.
WASHINGTON, April 15- U.S. consumer prices firmed a bit in March in a possible sign that a disinflationary trend has run its course. There are some indications that it might do so, but only modestly, "said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania.
April 15- Oil and gas producer Noble Energy Inc said it planned to appoint Chief Operating Officer David Stover as chief executive in October, replacing Charles Davidson, who would retire on May 1, 2015. An industry veteran with 35 years of experience, he has previously worked at BP America Inc, Vastar Resources Inc and Atlantic Richfield Co..
Treasuries prices were steady on Tuesday after a weak manufacturing survey for New York state pointed to sluggish economic momentum, and as consumer price pressures remained benign.
PITTSBURGH— The new owners of H.J. Heinz Co. have offered buyouts to all workers in Pittsburgh, where the ketchup-and-food giant has been based for decades, but insist the offer doesn't signal a plan to move the company's headquarters.
WEST CHESTER, Pennsylvania, April 15- The backbreaking life of a roughneck, the iconic worker bees of oilfield drilling rigs, is getting a little easier.
The Pittsburgh- based company said the deal will help Koppers expand its chemicals offerings and railroad services. Koppers said the purchase price includes the value of an anticipated tax benefit that would provide cash savings of approximately $7 million over the next 15 years.
Crown Publishers announced Monday that the two-week tour will begin in New York on May 14, two days after "Stress Test" is released. Geithner will be joined by CNBC's Jim Cramer on May 14, by Bernanke in Washington on May 22 and by Paulson in Chicago on May 28. Other stops will include Philadelphia, Seattle, Miami and San Francisco.