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Top News & Analysis Pennsylvania

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  • BRADFORD, Pa.— Zippo, the Pennsylvania maker of iconic cigarette lighters best known for their distinctive metal cases, has agreed to pay $186,000 to settle allegations it violated federal hazardous waste laws. The U.S. Environmental Protection Agency said this week that Zippo Manufacturing Co.' s alleged violations included reporting and storage practices...

  • Some of the largest U.S. fund managers rely on BNY Mellon to calculate the net asset value of their funds but a failed software upgrade last weekend buckled the system just as investors headed into a tumultuous week of trading sparked by fears about the Chinese economy. "BNY Mellon is the plumber to mutual funds and capital markets," said Mike Mayo, a banking analyst...

  • But Heidi Hubbard, a lawyer for Coventry, said AIG had been aware that Coventry was selling certain policies at a gain and never objected. Coventry, founded by Philadelphia philanthropist Alan Buerger, is the "leader and creator" of the life settlement industry, according to its website. AIG bought nearly 7,000 life settlements from Coventry with a total face...

  • MONTPELIER, Vt.— Four years after flooding from Tropical Storm Irene nearly destroyed Vermont's fish hatchery in Roxbury, officials still are looking for the estimated $5 million it would take to rebuild it to meet modern standards. Meanwhile, a hatchery on the White River in Bethel owned by the federal government is closed although it was nearly fully repaired...

  • Fund managers rely on BNY Mellon to calculate the net asset value or NAVS of their funds but a failed software upgrade over the weekend floored its system just as investors were heading into a tumultuous week of trading sparked by fears about the Chinese economy.. "The system is up although some performance issues remain," BNY Mellon spokesman Kevin Heine said on...

  • PITTSBURGH— A record store owner is charged with using heroin addicts to shoplift more than $2 million worth of books, videos, and other products that he then resold online. Anthony Cicero, 50, of East Pittsburgh, has been charged with running a corrupt organization out of his Slipped Disc record store in Oakland, a trendy Pittsburgh neighborhood home to The...

  • Bimbo Bakeries recalls bread sold in 11 states Wednesday, 26 Aug 2015 | 6:44 PM ET

    NEW YORK— The maker of Sara Lee, Nature's Harvest and other brands is recalling about 48,000 packages of bread sold in 11 states because they may contain fragments of glass from a broken light bulb at a company factory. The recall covers seven different Sara Lee products, two each sold under the Nature's Harvest and Great Value brands, and one each for the Kroger,...

  • Aug 26- Wall Street racked up its biggest one-day gain in four years on Wednesday as fears about China's economy gave way to bargain hunters emboldened by expectations the U.S. Led by Silicon Valley stalwarts Apple, Amazon and Google, the surge put the brakes on a six-day losing streak that saw the S&P 500 surrender 11 percent. Some of the late-day rally was driven...

  • Judge reverses manslaughter conviction due to GM ignition Wednesday, 26 Aug 2015 | 4:16 PM ET

    PITTSBURGH— A Pennsylvania judge reversed the involuntary manslaughter conviction of a woman Wednesday after determining a faulty General Motors ignition switch contributed to her crashing into a school bus and utility pole, killing her teenage passenger. Police determined Ward-Green was driving 75 mph in a 35 mph zone when she crashed in 2010 in Penn...

  • *Cameron International soars on Schlumberger deal. Aug 26- Wall Street rallied more than 3 percent on Wednesday afternoon as fears about China's economy gave way to bargain hunters emboldened by expectations the U.S. All 10 major S&P 500 sectors were up, led by the technology index's 4.3 percent gain, raising expectations that Wall Street could snap a six-day...

  • US STOCKS-Wall St off highs as China worries persist Wednesday, 26 Aug 2015 | 1:07 PM ET

    *Cameron International soars on Schlumberger deal. Aug 26- U.S. stocks lost much of their early gains in afternoon trading on Wednesday as ongoing worries about China's economy outweighed the apparently receding chance of a U.S. rate hike in September. In the clearest indication yet that market ructions could affect U.S. monetary policy, New York Fed President...

  • US STOCKS-Wall St up on data, may end 6-day losing streak Wednesday, 26 Aug 2015 | 11:25 AM ET

    *Cameron International soars on Schlumberger deal. Aug 26- U.S. stocks rose in morning trading on Wednesday, helped by stronger-than-expected durable goods data, raising hopes that Wall Street will snap its six-day losing streak. Apple Inc provided the biggest boost to the three major U.S. indexes.

  • Dish and Sinclair agree in principle on new contract Wednesday, 26 Aug 2015 | 10:42 AM ET

    NEW YORK— Dish Network and Sinclair Broadcast Group, one of the largest TV broadcasters in the U.S., said Wednesday they've agreed on the outline of a new contract, one day after Sinclair's channels went dark for Dish customers. Sinclair's channels include affiliates of ABC, CBS, CW, Fox and NBC in markets throughout the country, including Washington DC, Seattle/...

  • La Salle University lays off 3 percent of workforce Wednesday, 26 Aug 2015 | 6:31 AM ET

    PHILADELPHIA— La Salle University's new president has announced the Philadelphia school has laid off 23 employees just two months into her tenure. Colleen Hanycz says she knew La Salle needed to make some changes but the cuts weren't something she anticipated. The Philadelphia Inquirer reports a $12 million deficit and a declining freshman enrollment is to...

  • Back from death's door, Resorts casino is now profitable Wednesday, 26 Aug 2015 | 2:14 AM ET

    ATLANTIC CITY, N.J.— As recently as five years ago, Resorts Casino Hotel was near death, struggling to survive against bigger, newer Atlantic City casinos. In December 2009, Resorts' then-owners Colony Capital were within hours of handing over the keys to lenders and walking away from the casino. Months later, veteran casino executive Dennis Gomes and New York real...

  • Urban areas where commuters endure the most extra hours Wednesday, 26 Aug 2015 | 12:01 AM ET

    Traffic congestion nationally reached a new peak last year and is greater than ever before, according to a report by the Texas A&M Transportation Institute and INRIX Inc. Their analysis is based on federal data on the number of cars on the road and on traffic speed data collected by INRIX on 1.3 million miles of urban streets and highways. 1. Washington, D.C.-...

  • *China cuts interest rate for second time in two months. Aug 25- A strong rally on Wall Street evaporated on Tuesday and stocks ended with deep losses as concerns about China's economy outweighed lower valuations that some saw earlier as bargains. Investors cited more worries that a slowdown in China could hobble global growth, even after the country's central...

  • Lannett beats Street 4Q forecasts Tuesday, 25 Aug 2015 | 4:21 PM ET

    PHILADELPHIA _ Lannett Co. on Tuesday reported fiscal fourth-quarter profit of $33.9 million. Lannett expects full-year revenue in the range of $425 million to $435 million. Lannett shares have risen roughly 9 percent since the beginning of the year.

  • TURNER, Maine— An egg producer says it's going to keep the current management in place at Maine's largest egg farm. Pennsylvania- based Hillandale Farms signed a lease to run the farms that were previously operated by a Land O'Lakes subsidiary. Hillandale Farms reached the agreement last month.

  • Airbnb to start collecting taxes in Paris Tuesday, 25 Aug 2015 | 3:23 PM ET

    Aug 25- Online home-rental marketplace Airbnb Inc said on Tuesday it would begin collecting and remitting tourist taxes from guests on behalf of rental apartments in Paris. Airbnb, whose most popular city is Paris with more than 50,000 listings, said it would collect 0.83 euro per person per night for reservations made in Paris on or after Oct. 1.