Fed Pessimism Fuels Asia Losses; Nikkei Up
Pennsylvania
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Gov. Tom Corbett (R-PA) and Austan Goolsbee, Chicago Booth School of Business, discuss the energy boom and the economic recovery in the U.S.
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CAMP HILL, Pa.-- Drugstore chain Rite Aid Corp.' s board of directors has elected former Blue Shield of California Chairman and CEO Bruce G. Bodaken to its board of directors. Rite Aid spokeswoman Ashley Flower said Bodaken's addition brings the board to 10 members and is not tied to the April resignation of Michael Coutu.
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WASHINGTON, May 20- The U.S. Supreme Court on Monday ruled for utility PPL Corp in its dispute with the U.S. Internal Revenue Service over credits the company claimed to offset overseas tax payments.
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WASHINGTON, May 20- The U.S. Supreme Court on Monday ruled for utility PPL Corp over its dispute with the U.S. Internal Revenue Service concerning credits the company claimed to offset overseas tax payments.
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*SEC warns municipalities not to gloss over financial health. When on May 6 the SEC charged the cash-strapped capital city of Pennsylvania, it effectively put officials across the country on notice that even political statements like annual state of the city addresses must not overstate financial conditions.
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*Democratic Party primary is on Tuesday. But unlike most cities, Harrisburg's financial troubles have thrust it into the national spotlight, most recently with a slap from the U.S. Securities and Exchange Commission for fraud.
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MORGANTOWN, W.Va.-- CONSOL Energy Inc. says it's got federal approval to restart its sprawling Blacksville No. 2 coal mine with the morning shift on Monday. The operation straddling the West Virginia- Pennsylvania border was evacuated March 12 after smoke began pouring from a shaft in Wayne Township, Pa.
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Dunder Mifflin Paper Co. lives on, but "The Office" has closed shop. The NBC workplace comedy, set at the fictional company's Scranton, Pa., branch, aired its finale Thursday to end an eight-year run. NBC had stayed mum on whether Carell, the star of "The Office" until his departure two seasons ago, would be in the finale or not.
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HOUSTON-- Southwestern Energy has closed on the purchase of about 162,000 acres of land in Pennsylvania. The Marcellus Shale, a massive underground gas reserve stretching from New York across Pennsylvania and West Virginia to Ohio. Southwestern Energy Co., based in Houston, financed the deal with existing debt.
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HOUSTON/ MILAN, May 16- A trio of hawkish regional Federal Reserve officials are calling for the U.S. central bank to stop buying mortgage-backed bonds, citing the recent improvement in the housing market.
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WASHINGTON, May 16- The U.S. economy showed fresh signs of slower growth in the second quarter, with factory activity slipping in the mid-Atlantic region while groundbreaking declined at home construction sites. We are seeing a soft start for growth in the second quarter, "said Sam Bullard, an economist at Wells Fargo in Charlotte, North Carolina.
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NEW YORK, May 16- Factory activity in the U.S. mid-Atlantic region contracted in May as new orders fell and its employment index hit a more than three-year low, the latest figures to suggest growth in the second quarter is cooling, a survey showed on Thursday.
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*Cisco jumps after earnings, outlook. *Wal-Mart slips after earnings miss. NEW YORK, May 16- U.S. stocks were little changed on Thursday after softer-than-expected data on the manufacturing sector and labor market, but gains in Cisco helped temper declines.
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NEW YORK, May 16- Factory activity in the U.S. mid-Atlantic region contracted in May as new orders fell to their lowest level in almost a year, a survey showed on Thursday. The Philadelphia Federal Reserve Bank said its business activity index dropped to minus 5.2 from 1.3 in April, worse than economists' expectations for a slight gain to 2.4.
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*Cisco jumps after earnings, outlook. *Wal-Mart slips after earnings miss. NEW YORK, May 16- U.S. stocks were poised for a slightly lower open on Thursday, indicating the Dow and S&P 500 may ease from their most recent record highs after softer-than-expected data on the housing and labor markets.
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WASHINGTON-- Federal weather forecasts for Superstorm Sandy were exceptionally accurate last fall, but the warnings themselves were confusing, an internal review found. The gigantic October storm lost tropical characteristics hours before landfall in New Jersey, so the National Oceanic and Atmospheric Administration stopped calling it a hurricane.
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*Cisco jumps after earnings, outlook. *Wal-Mart slips after earnings miss. Wal-Mart Stores Inc, the world's largest retailer and a barometer of consumer spending, fell 2.5 percent to $77.86 in premarket trade after posting a quarterly profit that missed Wall Street expectations, with sales down 1.4 percent at U.S. stores open at least a year.
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The U.S. Chamber of Commerce and other industry groups, along with states such as Texas and Virginia, have filed nine petitions in recent weeks asking the justices to review four U.S. Environmental Protection Agency regulations that are designed to cut greenhouse-gas emissions.
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NEW YORK, May 15- Qatar Airways' top executive said the Middle Eastern carrier wants to be a launch customer for Boeing Co's forthcoming 777 X mini-jumbo jet, and that the airline plans to open at least three new routes to the United States in the next 12 to 18 months. "
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*IAEA nuclear talks with Iran reach deadlock. NEW YORK, May 15- Brent crude oil prices rose by more than $1 on Wednesday, reversing early losses to settle above $103 a barrel and increasing its premium over U.S. crude to the largest in 13 sessions.
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NEW YORK, May 15- Qatar Airways' top executive said the Middle-Eastern carrier wants to be a launch customer for Boeing Co's forthcoming 777 X mini-jumbo jet, and that the airline plans to open at least three new routes to the U.S. in the next 12 to 18 months. "