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  • Dec 18- Kraft Foods Group Inc on Thursday said Tony Vernon would retire as chief executive officer later this month, with Chairman John Cahill succeeding him as the company battles sluggish demand for packaged food products in the United States. Kraft shares rose 6.4 percent to close at $63.38, an all-time high since the company was spun off from Mondelez...

  • Dec 18- Billionaire investor Carl Icahn offered $20 million in financing on Thursday to keep the Trump Taj Mahal from becoming the fifth casino to close this year in New Jersey's troubled Atlantic City, was once the only major destination for gamblers on the U.S. East Coast. The Taj, owned by bankrupt Trump Entertainment Resorts Inc., is slated to close on Saturday.

  • Dec 18- Kraft Foods Group Inc on Thursday said Tony Vernon would retire as chief executive officer later this month, with Chairman John Cahill succeeding him as the company tries to accelerate its growth. Vernon, who has headed the company since it was spun off from Mondelez International Inc in October 2012, has focused on expanding its reach among growing...

  • Manufacturing growth slows in Philadelphia region Thursday, 18 Dec 2014 | 10:32 AM ET

    WASHINGTON— Manufacturing in the Philadelphia region grew at a much slower pace in December compared with the previous month. The Federal Reserve Bank of Philadelphia said Thursday that its index of regional factory activity dropped to 24.5 this month from 40.8 in November. The survey covers manufacturing in Pennsylvania, New Jersey and Delaware.

  • Nielsen's top programs for Dec. 8-14 Tuesday, 16 Dec 2014 | 5:12 PM ET

    3. "The Big Bang Theory," CBS, 15.49 million. 6. "60 Minutes," CBS, 11.38 million. 8. "Blue Bloods," CBS, 11.09 million.

  • $151M verdict over Wal-Mart workers' breaks upheld Tuesday, 16 Dec 2014 | 5:10 PM ET

    PHILADELPHIA— Pennsylvania's highest court is upholding a $151 million verdict in favor of employees at Wal-Mart and Sam's Club who say they were forced to work through their breaks. The Philadelphia Inquirer says Monday's decision affects 187,000 people who worked for Bentonville, Arkansas- based Wal-Mart Stores Inc. between 1998 and 2006..

  • Ex-officials accused of theft from school district Monday, 15 Dec 2014 | 2:02 PM ET

    COATESVILLE, Pa.— Two former officials at a suburban Philadelphia school district who resigned after a text message scandal are now charged with stealing money from the district, prosecutors announced Monday. Former Coatesville Area School District superintendent Richard Como and athletic director James Donato are charged with theft of school district...

  • PENNSBURG, Pennsylvania— Prosecutor: Man suspected of killing 6, wounding 1 near Philadelphia still at large.

  • NEW YORK, Dec 14- For the past 18 months, Americans from Albany to Oregon have voiced growing alarm over the rising number of oil-laden freight trains coursing through their cities, a trend they fear is endangering public safety. The public assistance in states like New York, Pennsylvania, Ohio, Oklahoma and Oregon comes as railroads are posting record profits, and...

  • FACTBOX-Taxpayers help subsidize oil-by-rail boom Sunday, 14 Dec 2014 | 7:00 AM ET

    Granting Agency: U.S. Department of Transportation Amount: $10 million Year: 2013 Recipient: South Eastern Pennsylvania Transportation Authority Description: Used to separate a CSX freight and commuter line that became crowded as demand for crude by rail grew in the Philadelphia area. Granting Agency: U.S. Department of Transportation Amount: $6.6 million...

  • NEW YORK— A rare 1907 double eagle $20 coin designed by Augustus Saint-Gaudens could sell for as much as $1.5 million at auction next week. The lustrous gold piece is one of four experimental relief $20 coins that were minted in Philadelphia in 1907 between Feb. 7 and Feb. 14. President Theodore Roosevelt commissioned the great American sculptor to redesign the...

  • Urban Outfitters rises on stronger sales forecast Thursday, 11 Dec 2014 | 11:09 AM ET

    NEW YORK— Shares of Urban Outfitters jumped Thursday after the retailer said a key sales measurement has improved since the end of October. Urban Outfitters said sales at stores open at least a year have gotten stronger. Shares of Urban Outfitters Inc. climbed $3.48, or 11.6 percent, to $33.49 in morning trading.

  • Gilead faces lawsuit over hepatitis C drug pricing Wednesday, 10 Dec 2014 | 5:59 PM ET

    HAVERFORD, Pa.— Philadelphia's Transportation Authority has filed a lawsuit against Gilead Sciences Inc. over the pricing of its hepatitis C drug. Gilead has been selling a 12- week treatment of Sovaldi in the United States for approximately $84,000, or $1,000 per pill. The Foster City, California, company could not be reached immediately for a comment...

  • NEW YORK, Dec 10- U.S. stocks lost more than 1 percent on Wednesday in the S&P 500' s biggest decline since Oct. 13 as another big drop in oil prices hammered energy shares. Selling accelerated in afternoon trading, and by day's end, NYSE declining issues outnumbered advancers by a ratio of 4.66 to 1 ratio. Brent crude touched a new five-year low of $63.56 as Saudi...

  • Gilead sued over 'exorbitant' hepatitis C drug prices Wednesday, 10 Dec 2014 | 3:55 PM ET

    Dec 10- Philadelphia's transportation authority has filed a class action lawsuit accusing Gilead Sciences Inc of charging "exorbitant" prices for its blockbuster hepatitis C drug Sovaldi. The lawsuit, filed Tuesday in federal court in Philadelphia by the Southeastern Pennsylvania Transportation Authority, seeks an unspecified amount of money damages.

  • NEW YORK, Dec 10- U.S. stocks extended their declines on Wednesday afternoon, with all three major indexes down more than 1 percent each as the energy sector resumed its recent slide along with oil prices. Selling picked up in early afternoon, with declining issues outnumbering advancing ones on the NYSE by 2,450 to 613, for a 4.00- to-1 ratio.

  • Food service firms admit cheating US military Tuesday, 9 Dec 2014 | 1:20 PM ET

    The case involves Supreme Group B.V., a privately held Dutch corporation, and its subsidiaries, Supreme Foodservice GmbH of Switzerland and Supreme Foodservice FZE of United Arab Emirates. "Supreme Group accepts full responsibility for, and deeply regrets our actions that led to this situation," Emma Sharma, a Supreme Group attorney and ethics officer, said in a...

  • 2 major Camden projects get tax breaks approved Tuesday, 9 Dec 2014 | 7:45 AM ET

    TRENTON, N.J.— The New Jersey- sponsored business rush to Camden got a boost Tuesday when the state Economic Development Authority approved $118 billion in future tax breaks for Subaru of America to move its U.S. headquarters to the city, and $40 million for Cooper Health System to move non-medical offices from the suburbs. The EDA has granted businesses more than...

  • Northeast dealing with heavy rains, snow, wind Tuesday, 9 Dec 2014 | 1:39 AM ET

    The storm made for a slippery Tuesday morning commute in parts of Massachusetts, where state police responded to numerous crashes and spinouts caused by icy roads, some involving their own cruisers. At least 2 inches of rain is forecast for southern New England, where flood advisories are in effect in Connecticut, Massachusetts and Rhode Island.

  • Pep Boys reports 3Q loss Monday, 8 Dec 2014 | 4:45 PM ET

    PHILADELPHIA _ Pep Boys-Manny Moe& Jack on Monday reported a loss of $2 million in its fiscal third quarter. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share. Pep Boys shares have dropped 23 percent since the beginning of the year.