Top News & Analysis Philadelphia

  • *Wall Street's fear gauge surges to over 1- yr high. New York, Feb 24- Wall Street's three major averages plunged on Monday as investors ran for safety after a surge in coronavirus cases outside China fanned worries about the global economic impact of a potential pandemic. Treasuries after countries including Iran, Italy and South Korea reported a rise in virus...

  • *Health insurers fall after Bernie Sanders' Nevada victory. New York, Feb 24- The Dow Jones Industrials was on track for its biggest daily decline in two years and the S&P 500 fell more than 3% on Monday, as investors fled riskier assets as fears about the global economic impact of the coronavirus intensified after a surge in cases outside China.

  • Feb 14- The S&P 500 and the Nasdaq edged higher on Friday, supported by Nvidia shares after its upbeat outlook, but concerns about an economic hit from the coronavirus outbreak limited gains. Meanwhile, the coronavirus epidemic in China showed no signs of easing, with health authorities reporting on Friday more than 5,000 new cases. "This seems to be a teflon market,...

  • Adding to the downbeat sentiment were a Commerce Department retail sales report showing consumer spending likely slowed further in January and data indicating industrial production fell more than expected last month. Meanwhile, the coronavirus epidemic in China showed no signs of easing, with health authorities reporting more than 5,000 new cases on...

  • NEW YORK, Feb 13- The Philadelphia Energy Solutions oil refinery site will be sold for $252 million and redeveloped under a plan approved in bankruptcy court on Thursday, ending months of uncertainty over whether the idled plant would be restarted. Hilco Redevelopment Partners, which will become the new owner of the roughly 1,300- acre PES refinery site as part...

  • CHICAGO, Feb 13- Kraft Heinz Co on Thursday missed quarterly sales estimates, forecast lower full-year core earnings, and wrote down the value of some businesses- including coffee brand Maxwell House- by $666 million. The Chicago- based company also highlighted "very, very volatile" pork prices due to problems in China including the deadly coronavirus, African...

  • CHICAGO, Feb 13- Kraft Heinz Co on Thursday missed quarterly sales estimates, forecast lower full-year core earnings, and wrote down the value of some businesses- including coffee brand Maxwell House- by $666 million. Shares in Kraft Heinz, which makes Philadelphia cream cheese and Planters peanuts, were down 7.7% in morning trading. Kraft Heinz took a $453...

  • CHICAGO, Feb 13- Kraft Heinz Co on Thursday missed quarterly sales estimates due to lower demand for products like bacon and cheese, and wrote down the value of some businesses- including coffee brand Maxwell House- by $666 million. Thursday's results mark the one-year anniversary of Kraft Heinz reporting a surprise loss and taking a $15.4 billion writedown of...

  • Kraft Heinz posted net earnings of $183 million, or 15 cents per share, compared with a loss of $12.63 billion, or $10.30 cents per share the year earlier. The Chicago- based company, which also makes Philadelphia cream cheese and Jell-O, said sales fell to $6.54 billion from $6.89 billion in the fourth quarter ended Dec. 28, short of the analyst estimate of $6.61...

  • The Chicago- based company, which makes Oscar-Mayer bacon and Philadelphia cream cheese, said sales fell to $6.54 billion from $6.89 billion in the fourth quarter ended Dec. 28.

  • *Fed Chair Jerome Powell wraps up two-day economic report. NEW YORK, Feb 12- Wall Street closed at record highs on Wednesday as news that the coronavirus outbreak could be running out of steam kept buyers in the ring. "Obviously, the market is relieved over the fact that it appears that new cases of the coronavirus seem to be dwindling," said Peter Cardillo, chief market...

  • *Fed Chair Jerome Powell wraps up two-day economic report. NEW YORK, Feb 12- Wall Street closed at record highs on Wednesday as news that the coronavirus outbreak could be running out of steam kept buyers in the ring. "Obviously, the market is relieved over the fact that it appears that new cases of the coronavirus seem to be dwindling," said Peter Cardillo, chief market...

  • *Fed chair Jerome Powell wraps up two-day economic report. NEW YORK, Feb 12- All three major U.S. stock averages reached record highs on Wednesday as news that the dreaded coronavirus could be running out of steam kept buyers in the ring. Still, the outbreak has spooked investors amid quarantines, supply-chain disruptions and factory shutdowns and the World...

  • "Now, EPA needs to enforce these rules." In an emailed statement, the EPA said that "it is important to note that benzene concentration levels monitored at the perimeter of a refinery do not reflect benzene levels in the community. EPA said it would not comment on ongoing or potential enforcement actions.

  • Mathrani will replace WeWork co-CEOs Artie Minson and Sebastian Gunningham and report directly to Chairman Marcelo Claure, who described him as "a proven leader, with turnaround expertise in the real estate industry." **Mathrani, who is in his 50 s, was born in India and attended a public school in Philadelphia. **He holds engineering and business degrees from...

  • Mathrani will replace WeWork co-CEOs Artie Minson and Sebastian Gunningham and report directly to Chairman Marcelo Claure, who described him as "a proven leader, with turnaround expertise in the real estate industry." **Mathrani, who is in his 50 s, was born in India and attended a public school in Philadelphia. **He holds engineering and business degrees from...

  • "Now, EPA needs to enforce these rules." EPA officials did not immediately respond to requests for comment. According to the report, benzene levels consistently exceeded the EPA standard of 9 micrograms per cubic meter of air at the fencelines of 10 of the more than 100 refineries examined by EIP.

  • The plan is now scheduled to go before the United States Bankruptcy Court for the District of Delaware to be finalized on Feb. 12 instead of Thursday. PES last month entered into an agreement to sell its refinery, the largest and oldest on the East Coast, to Chicago- based Hilco Redevelopment Partners, which is expected to use the site largely for warehousing.

  • WASHINGTON, Jan 29- A group of U.S. institutional investors urged energy, timber and mining companies on Wednesday not to take advantage of Trump administration rollbacks of environmental regulations, such as moving operations into public lands that are being opened up. President Donald Trump has rolled back some protections on public lands including in...

  • NEW YORK, Jan 27- The latest rally in U.S. stocks is facing a serious test, as the S&P 500 heads toward its worst loss in months on concerns over how the coronavirus will impact the global economy. "Markets hate uncertainty, and the coronavirus is the ultimate uncertainty," said Alec Young, managing director of global markets research, FTSE Russell, New York.