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Top News & Analysis Philadelphia

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  • PHILADELPHIA— Business owners in Philadelphia could enjoy a financial windfall from the crowds expected for the papal visit— if their employees can get to work through the security perimeters and road closures. "Even if beer needs to be delivered by drone,@ McGillins will be open," tweeted the city's oldest bar, McGillin's Olde Ale House. Planned road closures...

  • NEW YORK, Sept 3- Stocks edged higher on Wall Street in another volatile session on Thursday while the euro fell 1 percent on a darkening euro zone outlook as investors grew cautious ahead of the closely watched U.S. monthly jobs report. Global stock markets rallied earlier following a pledge from European Central Bank President Mario Draghi to beef up or...

  • *Exxon Mobil boosts S&P, Apple weighs. *Joy Global falls after slashing full-year forecast. European Central Bank chief Mario Draghi hinted at additional stimulus measures for the euro zone, helping drive Wall Street's early gains.

  • NEW YORK, Sept 3- The euro fell 1 percent on Thursday on a darkening euro zone outlook, while U.S. stocks pared sharp early gains to end barely higher as investors grew cautious ahead of Friday's August jobs report. Global stock markets rallied earlier in the session following a pledge from European Central Bank President Mario Draghi to beef up or prolong the...

  • NEW YORK, Sept 3- The euro fell 1 percent on Thursday on a darkening euro zone outlook, while U.S. stocks pared sharp early gains as investors grew cautious ahead of Friday's key jobs report. Stocks rallied earlier following European Central Bank President Mario Draghi's pledge to beef up or prolong the bank's economic stimulus if necessary.

  • PHILADELPHIA— Three people were charged Thursday with running a $54 million Ponzi scheme built on promises of a green energy technology that would turn trash into fuel and "carbon-negative" housing developments, neither of which were ever fully developed, federal prosecutors said. Troy Wragg, 34, of Georgia; Amanda Knorr, 32, of Pennsylvania; and Wayde McKelvy,...

  • PHILADELPHIA— After an outcry over plans to keep most of Pope Francis' audience at his biggest Philadelphia events several blocks away, organizers Thursday announced the pontiff will parade through downtown twice and said they would set aside 30,000 tickets for the public to get a closer view. "Everyone wants to see the pope, and we totally, totally get that," said...

  • AP survey: How cities are handling surge in oil trains Thursday, 3 Sep 2015 | 2:20 AM ET

    In the wake of a half-dozen fiery crashes this year, The Associated Press surveyed nearly a dozen cities with populations of more than 250,000 to gauge how prepared they are to respond to an oil-train derailment. —Variety of tabletop exercises and training exercises have taken place in and around Chicago involving railroads, first responders and government...

  • After a series of fiery crashes, The Associated Press conducted a survey of nearly a dozen big cities that, collectively, see thousands of tank cars each week, revealing a patchwork of preparedness. The AP surveyed emergency management departments in Chicago; Philadelphia; Seattle; Cleveland; Minneapolis; Milwaukee; Pittsburgh; New Orleans; Sacramento,...

  • Five Below falls aftermarket on 2Q sales and outlook Wednesday, 2 Sep 2015 | 4:06 PM ET

    PHILADELPHIA— Shares of discount retailer Five Below skidded in aftermarket trading after the company reported disappointing second-quarter sales and offered a soft forecast for the current quarter. Five Below focuses on teen and pre-teen customers, pricing all of its items at $5 or less, and it is opening new stores at a fast clip: At the end of the quarter it...

  • Fed report shows autos and housing fueling US growth Wednesday, 2 Sep 2015 | 2:00 PM ET

    WASHINGTON— While U.S. housing and auto sales showed strength over the summer, manufacturers were feeling pressure from China's economic slowdown and the oil industry was squeezed by lower energy prices. One of the Fed's regions— Cleveland— reported only slight growth. The recent stock market turbulence, triggered by worries about China's slowdown, has led...

  • NEW YORK— Cookie and clothing makers, a fitness studio and an old-fashioned five-and-dime retailer have made the cut in a competition to win a Super Bowl ad. Ten small businesses are finalists in the contest sponsored by software maker Intuit Inc. that will give the winner a 30- second spot during Super Bowl 50 on Feb. 7. —AnaOno, Philadelphia, maker of lingerie for...

  • Boston mayor, city councilors seek hefty pay raises Monday, 31 Aug 2015 | 2:22 PM ET

    BOSTON— Boston's mayor and City Council are again looking for pay raises that could make them among the best compensated of comparable cities across the country. Mayor Marty Walsh filed a proposal Monday giving his office a $24,000 raise to $199,000 a year. Not to be outdone, City Council President Bill Linehan proposed to boost pay on the 13- member panel by...

  • 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...

  • 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...

  • *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...

  • 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...

  • 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.