×

Top News & Analysis Philadelphia

  • PHILADELPHIA— Philadelphia's new tax on sweetened beverages is slightly exceeding expectations. Figures released Thursday by the city's Department of Revenue show the tax brought in $6.4 million in February. This story has been corrected to show the city's projection for February was $6.3 million, not $5.9 million.

  • PHILADELPHIA _ Five Below Inc. on Wednesday reported fiscal fourth-quarter net income of $49.8 million. Four analysts surveyed by Zacks expected $387 million. For the current quarter ending in May, Five Below said it expects revenue in the range of $228 million to $232 million.

  • In a 3-0 decision, the 3rd U.S. Circuit Court of Appeals in Philadelphia said the plaintiffs may proceed to trial on their failure-to-warn claims, and a lower court judge erred in finding the claims pre-empted by federal law. The Kenilworth, New Jersey- based company changed the label four months after an outside task force hired by the U.S. Food and Drug...

  • A prominent Republican moderate from Pennsylvania says he'll be voting against the GOP health care bill expected to go to the House floor Thursday. Charlie Dent, whose district spans counties north and west of Philadelphia, said in a statement Wednesday night that the GOP's American Health Care Act "will lead to the loss of coverage and make insurance...

  • PHILADELPHIA— Pepsi is pulling 2- liter bottles and 12- packs of its products from Philadelphia grocery store shelves over the city's new tax on sweetened drinks. Democratic Mayor Jim Kenney's office says the industry was trending toward smaller sizes well before the tax passed. Earlier this month, Purchase, New York- based PepsiCo Inc. cited the tax when...

  • In this Feb. 10, 2017, file photo, Philadelphia District Attorney Seth Williams speaks during a news conference in Philadelphia.

    The charges would stem from a lengthy investigation into gifts District Attorney Seth Williams allegedly failed to report.

  • March 21- STORY: U.S. stocks gave up early gains and turned sharply lower on Tuesday, led by a fall in financial shares as investors began to question the timeline for the implementation of the Trump administration's pro-growth policies. The S&P was on track for its largest daily percentage drop since Oct 11. RICK MECKLER, PRESIDENT OF INVESTMENT FIRM LIBERTYVIEW...

  • March 21- STORY: U.S. stocks gave up early. MARK KEPNER, MANAGING DIRECTOR AT THEMIS TRADING IN CHATHAM, NEW JERSEY:. Oil is weak and thats becoming more of a focus for the market since it broke $50.

  • District Judge Juan Sanchez in Philadelphia said the SEC "pleaded a plausible claim" that Cooperman and Omega reaped about $4.09 million of profit in 2010 by trading illegally in Atlas Pipeline Partners LP, based on tips from an Atlas executive. The case has already hurt New York- based Omega, which has seen assets under management tumble to $3.5 billion as of Jan....

  • District Judge Juan Sanchez in Philadelphia said the SEC had "pleaded a plausible claim" that Cooperman and Omega reaped about $4.09 million of illegal profit in 2010 through insider trading in Atlas Pipeline Partners LP. The judge separately dismissed SEC claims that Cooperman failed to file required reports about his stakes in eight public companies,...

  • March 20- A federal judge on Monday rejected billionaire investor Leon Cooperman's bid to dismiss the U.S. Securities and Exchange Commission's insider trading case against him and his firm, Omega Advisors Inc.. District Judge Juan Sanchez in Philadelphia said the SEC had "pleaded a plausible claim for insider trading." The judge also dismissed SEC claims that...

  • NEW YORK— Comcast's cable unit is switching up its leadership ranks, with longtime executive Dave Watson taking over for Neil Smit as CEO. Smit will become vice chairman of Comcast Corp. at the start of next month. Besides providing cable service, the Philadelphia- based cable giant also owns the NBCUniversal media conglomerate.

  • J.C. Penney on Friday released a list of the 138 locations that will close in the coming months as part of its plan to cut costs. Riverview Mall in Bullhead City. Fort Morgan Main Street in Fort Morgan.

  • PHILADELPHIA— Less than three months into Philadelphia's new tax on sweetened drinks, the stakes have escalated: Beverage makers say the measure is hurting sales so much they need to cut jobs, while city officials say the moves are a ploy to get the tax struck down. The receipt says the drinks cost $5.99, and the tax adds $3.04. IGA supermarket has hung signs near...

  • NEW YORK, March 15- Wells Fargo& Co's board of directors awarded Chief Executive Timothy Sloan $12.8 million for his work last year, a 17 percent increase, despite scrapping executive bonuses in light of an accounts scandal that rocked the bank last year, according to a proxy filing on Wednesday. He took over after his predecessor, John Stumpf, resigned in light of...

  • NEW YORK/ BOSTON, March 14- A late-season snowstorm swept the mid-Atlantic and northeastern United States on Tuesday, closing public school systems from Washington, D.C., to Boston, grounding thousands of airline flights and knocking out electricity to 200,000 customers. Tens of millions of residents from Maryland to Maine faced a "rapidly intensifying...

  • People shovel snow at Newark Liberty International Airport in Newark, N.J., Tuesday, March 14, 2017.

    NYC's Office of the Comptroller said it expects snow removal costs from the winter storm Stella to come in between $23.9 million and $35.9 million.

  • NEW YORK, March 14- U.S. airlines canceled thousands of flights ahead of Tuesday's blizzard in the northeastern United States, but the weaker-than-forecast storm left some passengers complaining the preemptive strategy was too drastic. "I do believe in some cities this was overly dramatic," Patrick Pryor, a 24- year-old whose flight to Chicago from his home in St....

  • NEW YORK/ BOSTON, March 14- A blizzard swept through the heavily populated northeastern United States on Tuesday, grounding thousands of flights, canceling classes and pummeling those who ventured out onto snow-bound streets. Some 50 million people from Pennsylvania to Maine faced a "rapidly intensifying nor'easter" over the course of the day that was unusual...

  • NEW YORK/ BOSTON, March 14- A blizzard swept through the heavily populated northeastern United States on Tuesday, grounding flights, canceling classes and pummeling those who ventured out onto snow-bound streets. Some 50 million people from Pennsylvania to Maine faced a "rapidly intensifying nor'easter" that was unusual for striking so late in the winter,...