A federal court threw out a jury order requiring Apple to pay $368.2 million in damages to VirnetX for patent infringement. Reuters Reports.» Read More
NEW YORK— Shares of Pier 1 Imports slumped 11 percent before the opening bell after the home decor retailer cut its outlook for the year and fell short of most second-quarter expectations. Pier 1 Imports Inc. cut its full-year earnings outlook to a range of 95 cents to $1.05 per share.
WASHINGTON— The nation's economic recovery has been slow to reach the Philadelphia metropolitan area, hurt in part by an exodus of residents and a continued collapse in mid-wage jobs, new census data show. Philadelphia posted the largest income drop among large metro areas outside the Sun Belt, a sign of its persistently weak job market.
WASHINGTON— Record-low interest rates will be around for at least a few more months, the Federal Reserve made clear Wednesday. "Borrowers should see the writing on the wall," said Greg McBride, chief financial analyst at Bankrate.com.
Sept 18- The mothballed Hovensa refinery, once the largest in the Western hemisphere, could be the latest "zombie refinery" to come back to life, revived by the U.S. shale boom.
VANCOUVER, Sept 17- The Supreme Court of British Columbia has rejected a local municipality's bid for a temporary injunction to stop survey work for an oil pipeline expansion project proposed by Kinder Morgan Energy Partners.
DALLAS- Federal Reserve Bank of Dallas President Richard Fisher moderates panel, "Perspectives on the Fed's Role in International Crises" before a conference hosted by the Federal Reserve Bank of Dallas- 2100 GMT.
FORT WORTH, Texas— Pier 1 Imports Inc. on Wednesday reported net income of $9.2 million in its fiscal second quarter. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share. Analysts expected $427.3 million, according to Zacks.
*Sulzer worth $4.6 bln, Dresser-Rand worth $5.6 bln. Sept 17- Swiss pump maker Sulzer said on Wednesday it is in talks on a potential combination with U.S. compressor and turbine maker Dresser-Rand, a deal that would create a machinery company with a combined market valuation exceeding $10 billion.
WASHINGTON— The Federal Reserve signaled Wednesday that it plans to keep a key interest rate at a record low because a broad range of U.S. economic measures remain subpar. "In the Fed's mind, the economy still has work to do, but it's improving," said Mike Arone, an investment strategist with State Street Global Advisors.
NEW YORK— What do small business owners need to pay attention to this fall?
2015 Cadillac Escalade 4 WD Premium. BASE PRICE: $71,695 for 2 WD Standard; $74,295 for 4 WD Standard; $75,695 for 2 WD Luxury; $78,295 for 4 WD Luxury; $80,195 for 2 WD Premium; $82,795 for 4 WD Premium.
WASHINGTON— China's military hacked into computer networks of civilian transportation companies hired by the Pentagon at least nine times, breaking into computers aboard a commercial ship, targeting logistics companies and uploading malicious software onto an airline's computers, Senate investigators said Wednesday.
Sept 17- Twenty-two partners have jumped ship en masse from Bingham McCutchen's marquee restructuring practice, raising questions about the fate of the law firm's closely watched merger talks with the larger Morgan Lewis& Bockius.
EL PASO, Texas— The O.T. Bassett Tower office building in downtown El Paso will be converted into a 100- room boutique hotel. Officials with property owner Bassett Partners EP and Starwood Hotels& Resorts Worldwide Inc. on Tuesday announced the agreement. Authorities hope to open the Starwood Aloft Hotel by July 2016.
Barcelona was awarded 5 million euro as top finisher. Four others were awarded 1 million euros each: the metropolitan area of Kirklees, England, and the cities of Stockholm; Warsaw, Poland; and Athens, Greece.
DALLAS— Growth in online shopping is boosting profit at FedEx, and the company plans to hire more than 50,000 extra workers to handle what is shaping up as another record year for holiday-season package deliveries. The hiring plan from FedEx Corp. came a day after rival UPS said it would hire up to 95,000 seasonal workers.
NEW YORK, Sept 17- Houston- based logistic firm Buckeye Partners has spent more than $3.5 billion buying assets since 2010, transforming itself from a quiet regional pipeline utility into an emerging energy powerhouse.
WASHINGTON— The House passed a bill Tuesday night that could make it a little harder for people to use government welfare payments to buy marijuana in states where the drug is legal. Dave Reichert, R- Wash., is the main sponsor of the bill.
Yowie Group said on Wednesday that Wal-Mart Stores Inc, the world's largest retailer, will trial its "Yowie" chocolates across 50 stores in Texas. Shares in Yowie Group jumped as much as 18.5 percent after the company announced the tie-up with Wal-Mart. Yowie Group is based in Perth in western Australia.
CHICAGO— CHICAGO— A professor whose research is helping a California police department improve its strained relationship with the black community and a lawyer who advocates for victims of domestic abuse are among the 21 winners of this year's MacArthur Foundation "genius grants."