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Philadelphia

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  • Once-troubled reverse mortgages poised for rebound Monday, 15 Sep 2014 | 2:43 PM ET

    Industry analysts expect strong growth as the housing market improves, particularly in once hard-hit Sun Belt areas including Phoenix, Miami and San Diego, California, and aging Americans find value in growing old in their homes. They are also being boosted by high-appreciation, gentrifying neighborhoods in older cities such as New York's Brooklyn borough.

  • Speculation swirls over Fed language on rate hike Monday, 15 Sep 2014 | 12:58 PM ET

    WASHINGTON— When the Federal Reserve issues a policy statement after it meets this week, the financial world will be on high alert for two words:. The presence or absence of that phrase will trigger a rush to assess the likely timing of the Fed's first increase in interest rates since it cut them to record lows in 2008..

  • NJ Transit expands mobile tickets to south Jersey Thursday, 11 Sep 2014 | 6:01 AM ET

    The agency has expanded its My Tix application to 59 bus routes in the south Jersey and Philadelphia area. Customers must download the free My Tix application at the App Store for iOS phones and the Google Play Store for Android devices. My Tix is available on all NJ Transit rail lines.

  • Ex-Florida prison chief monitors Michigan contract Thursday, 11 Sep 2014 | 12:05 AM ET

    Rick Snyder's administration has hired the former chief of prisons in Florida and Indiana to oversee Michigan's troubled three-year, $145 million contract with a company supplying inmates with food. Ohio also has fined Aramark for similar contract violations.

  • Five Below tops 2Q profit expectations Wednesday, 10 Sep 2014 | 5:35 PM ET

    PHILADELPHIA— Five Below Inc. on Wednesday reported profit of $8.3 million in its fiscal second quarter. Analysts expected $152.6 million, according to Zacks. For the current quarter ending in October, Five Below said it expects revenue in the range of $136 million to $138 million.

  • District Judge Katherine Polk Failla dismissed a lawsuit by the New York Bankers Association, which said the law gave the city illegal power to regulate banks and conflicted with federal and state law.

  • ATLANTIC CITY, N.J., Sept 8- Governor Chris Christie pushed past a sea of angry protesters on Monday to meet with business leaders and politicians on ways to save troubled Atlantic City, which has lost a quarter of its 12 casinos already this year.

  • NEW YORK, Sept 8- The Dow and S&P 500 ended lower on Monday after a drop in energy shares, while the Nasdaq edged higher with Yahoo. Shares of Exxon Mobil fell 1.5 percent and Schlumberger's were down 2.1 percent, among the biggest drags on the S&P 500..

  • Ursinus College President Bobby Fong dies at 64 Monday, 8 Sep 2014 | 4:21 PM ET

    COLLEGEVILLE, Pa.— Ursinus College President Bobby Fong, a son of Chinese immigrants who rose to become one of the few Asian-Americans at the helm of U.S. colleges, died Monday. Ursinus announced his death on its website, saying it was from natural causes. An Ursinus spokeswoman said she could not immediately confirm that.

  • Officer's widow sues Philadelphia-area gun dealer Monday, 8 Sep 2014 | 11:38 AM ET

    The lawsuit filed by Lynsay Fox alleges that In Site Firearms and Law Enforcement Supplies knew or should have known that Michael Henry, the man who bought the gun that killed Bradley Fox, was purchasing the gun for someone else and that there was an "unreasonable and foreseeable risk" that the handgun would be used to cause harm.

  • FMC purchasing Cheminova for $1.8 billion Monday, 8 Sep 2014 | 6:34 AM ET

    PHILADELPHIA— FMC is buying a Danish insecticide company for $1.8 billion. Cheminova will also provide direct market access to Europe and has a strong position in Latin America, he said. FMC Corp. will fund the Cheminova transaction with debt and existing cash reserves.

  • Despite struggles, Philadelphia opens new schools Monday, 8 Sep 2014 | 3:01 AM ET

    PHILADELPHIA— The troubled city school system opened three new high schools Monday in an effort to show that officials are committed to innovating and boosting achievement despite fewer resources and the specter of massive layoffs.

  • Coventry, whose chief executive is Philadelphia philanthropist Alan Buerger, is the "leader and creator" of the life settlement industry, according to its website.

  • NEW YORK, Sept 5- An American International Group Inc unit sued a company headed by Philadelphia philanthropist Alan Buerger, accusing it of a $150 million fraud involving life insurance policies sold by elderly individuals in exchange for a quick payment. Coventry is the "leader and creator" of the life settlement industry, according to its website.

  • Prison inmate food vendor weighs recommendations Friday, 5 Sep 2014 | 11:13 AM ET

    Aramark is reviewing the recommendations and will work with the Department of Rehabilitation and Correction to respond to them, spokeswoman Karen Cutler said in an email. Last year, the state awarded Aramark a $110 million deal to feed some 50,000 Ohio prisoners beginning in September and running through June 30, 2015.

  • NEW YORK/ LOS ANGELES, Sept 4- U.S. fast-food workers staged protests in some 150 cities on Thursday in a fight for higher pay, and organizers said more than 450 were arrested from Manhattan's Times Square to Los Angeles. About 400 protesters clogged Times Square during morning rush hour in the latest of ongoing actions aimed at raising their wage to $15 an hour.

  • Fast-food protesters cuffed at higher-pay rallies Thursday, 4 Sep 2014 | 3:01 AM ET

    NEW YORK— Police handcuffed dozens of protesters who blocked traffic in dozens of cities across the country on Thursday in their latest attempt to escalate efforts to get McDonald's, Burger King and other fast-food companies to pay employees at least $15 an hour.

  • Comcast spin-off named GreatLand Connections Wednesday, 3 Sep 2014 | 3:23 PM ET

    PHILADELPHIA— A cable company to be spun off from Comcast as part of a move designed to help clear the way for regulatory approval of Comcast's acquisition of Time Warner Cable will be called GreatLand Connections Inc.. Comcast unveiled the name Wednesday along with Charter Communications, which will take a one-third stake in the company.

  • WASHINGTON, Sept 3- The U.S. economy expanded at a "moderate" pace across much of the nation in recent weeks, with the auto industry showing strong growth and banking conditions improving, the Federal Reserve said on Wednesday.

  • Comcast to sponsor NASCAR's Nationwide Series Wednesday, 3 Sep 2014 | 1:54 PM ET

    CHARLOTTE, N.C.— Comcast Corp. has signed a 10- year agreement with NASCAR to replace Nationwide Insurance as the title sponsor of the second-tier series. The series will be known as the NASCAR Xfinity Series through 2024. The deal that matches the longest single agreement around title sponsorship of any NASCAR national series in its history.