Top News & Analysis Philadelphia

  • *Wall Street weighed down by banks, energy stocks. NEW YORK, Sept 16- A $14 billion fine for Deutsche Bank and a slide in oil prices hit financials and energy stocks on Friday, leading most global stock indexes lower. Stocks fell as investors dumped shares of banks in North America and Europe after the U.S. Department of Justice told Deutsche Bank to pay $14 billion to...

  • *Deutsche fine weighs on bank stocks. Sept 16- Wall Street was near session lows late on Friday morning as Oracle led a decline in tech stocks and financials came under pressure in the wake of Deutsche Bank's mammoth $14 billion fine. The far bigger-than-expected penalty was levied by the U.S. Department of Justice to settle claims that the German bank missold...

  • ATLANTIC CITY, N.J.— The owner of a Philadelphia casino that is one of Atlantic City's main competitors is the newest player in New Jersey's internet gambling market. Rush Street Interactive, a unit of the company that owns Philadelphia's SugarHouse Casino, has won approval from New Jersey casino regulators to become the state's 20th legal online gambling site.

  • A worker uses a torch at the Watermark Designs manufacturing facility in Brooklyn, New York.

    Manufacturing in New York state remained weak in September, while a Philadelphia business gauge unexpectedly jumped.

  • NEW YORK, Sept 14- The U.S. soda lobby and small businesses are suing to block Philadelphia's soft drinks tax, marking the latest clash between the industry and public officials seeking to boost revenue and combat health epidemics like obesity and diabetes. The American Beverage Association, which represents Coca-Cola Co and PepsiCo Inc, kicked off a...

  • PHILADELPHIA— The American Beverage Association and others filed a lawsuit Wednesday to try to block a soda tax set to take effect in Philadelphia in January. The beverage industry had spent more than $10 million fighting the plan before the Philadelphia City Council approved it in June. Hotel stays in Philadelphia are also taxed by state and city authorities.

  • That's close to last year's pace, when United Parcel Service Inc. hired 93,000 workers for a busy stretch that starts in late November and runs through the gift-return season in early January. Delivery rival FedEx Corp. has not yet announced its plans. A spokeswoman declined to give a nationwide figure but said the retailer expects to add at least 10,900...

  • HARRISBURG, Pa.— Pennsylvania has begun its quest to raise the dead, holding a statewide auction of 40 "zombie" liquor licenses. Tom Wolf in June allows the Pennsylvania Liquor Control Board to auction the licenses for a minimum bid of $25,000. Licenses in the Pittsburgh area are expected to sell for $75,000 to $80,000, while those in the Philadelphia area might...

  • PITTSBURGH— Uber riders in Pittsburgh can get a glimpse of the future by summoning a car capable of handling most of the tasks of driving on its own. "That pilot really pushes the ball forward for us," said Raffi Krikorian, Director of Uber Advanced Technologies Center in Pittsburgh, the company's main facility for testing self-driving vehicles.

  • WASHINGTON, Sept 13- U.S. household income posted a record increase in 2015 after years of stagnation, suggesting the recovery from the Great Recession was finally lifting ordinary citizens who had been largely left behind. The Census Bureau said on Tuesday that median household income surged 5.2 percent last year to $56,500, the highest since 2007, in large...

  • LONDON, Sept 13- The U.S. economy could be $1 trillion smaller than otherwise expected in 2021 if Republican candidate Donald Trump wins the presidential election in November, economics research firm Oxford Economics said on Tuesday. While the firm said Trump's policies- including more protectionist trade measures, tax cuts and mass deportation of illegal...

  • Douglas Rae pleaded guilty to stealing from the West Chester- based QVC Inc. by submitting bogus invoices from two lighting companies he controlled from 2006 to 2013.. Rae, of Bethlehem, also acknowledged funneling other phony invoices to QVC through two other people who already have pleaded guilty: John Hodde, of Aubrey, Texas, and Michael Keppler, of Ridgewood,...

  • A test conducted by PlaneGard, which makes cases meant to contain the fire and smoke if a device’s battery malfunctions during a flight.

    So far there have been no airliner disasters specifically attributed to digital devices. But experts worry about the sheer mathematics. NYT reports.

  • NEW YORK, Sept 9- The U.S. Marshals Service has blocked a Royal Dutch Shell-chartered vessel carrying up to 600,000 barrels of crude oil headed to the Monroe Energy refinery outside of Philadelphia from leaving the port in connection with a civil court order, the federal agency said. The vessel, a Malta- flagged Aframax named Advantage Avenue, will be allowed to...

  • NEW YORK, Sept 9- The U.S. Marshals Service has blocked a Royal Dutch Shell-chartered vessel carrying up to 600,000 barrels of crude oil headed to the Monroe Energy refinery outside of Philadelphia from leaving the port in connection with a civil court order, the federal agency said. The vessel, a Malta- flagged Aframax named Advantage Avenue, will be allowed to...

  • NEW YORK, Sept 9- The U.S. Marshals Service has blocked a vessel headed to the Monroe Energy refinery outside of Philadelphia from leaving the port in connection with a civil court order, the federal agency said. The vessel's name is Advantage Avenue, the federal agency said.

  • *North Korea conducts its largest nuclear test to date. Stocks on Wall Street were hit after Boston Federal Reserve President Eric Rosengren said "risks to the forecast are becoming increasingly two-sided," meaning that while a slowdown overseas remains a concern, the U.S. economy has proved resilient and could even overheat if Fed policy remains unchanged for...

  • *North Korea conducts fifth nuclear test. NEW YORK, Sept 9- U.S. stocks dropped on Friday as investors were rattled by a nuclear test by North Korea and comments by Federal Reserve officials that hinted at a U.S. interest rate hike, putting the S&P 500 on pace for its worst day in over two months. North Korea conducted its fifth and biggest nuclear test on Friday and said...

  • NEW YORK, Sept 8- U.S. prosecutors on Thursday announced criminal fraud charges against two former American Realty Capital Properties Inc executives stemming from a 2014 accounting scandal that wiped out roughly $4 billion of the real estate investment trust's market value. Former Chief Financial Officer Brian Block, 44, was charged with six criminal...

  • NEW YORK, Sept 8- U.S. prosecutors on Thursday announced criminal fraud charges against two former American Realty Capital Properties Inc executives stemming from a 2014 accounting scandal that wiped out roughly $4 billion of the real estate investment trust's market value. Former Chief Financial Officer Brian Block, 44, was charged with six criminal...