LATEST REGIONAL BUSINESS NEWS
Private-equity firm Blackstone Group is buying King of Prussia-based AlliedBarton Security Services Inc., a company that employs 52,000 security guards and others in the United States.
- Gas prices continued their slide overnight, AAA Mid-Atlantic reported today
- Shares in the Bancorp Inc. fell for the second straight day after the Wilmington bank reported an impairment charge of $8.3 million on its $15 million portfolio of structured finance securities bought in 2004 and 2005.
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NEW YORK - The number of households facing the foreclosure process more than doubled in the second quarter compared to a year ago, according to data released today.
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WASHINGTON - Sales of new homes fell in June for the seventh time in the last eight months, more proof that the worst housing slump in decades is getting deeper.
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H.I.G. Capital, Miami, said yesterday that it would acquire Shapes/Arch Holdings LLC, Pennsauken, on Aug. 4, after U.S. Bankruptcy Court Judge Gloria Burns in Camden approved the deal Tuesday.
- NuPathe Inc., Conshohocken, says it has raised $30 million in its second round of venture-capital funding.
- The owner of a wastewater treatment supply company, JMJ Environmental Inc., in Laurel Springs, Camden County, and a former contracts administrator have pleaded guilty to bid-rigging and fraud involving work at two north Jersey Superfund sites, authorities say.
- » More headlines >>
- Upbeat economic data lifted stocks Friday, placating a market pummeled a day earlier by concerns about housing and the financial sector.
WALL STREET
NATION AND WORLD
Railroad giant CSX said it has asked two nominees of activist hedge fund shareholders TCI and 3G Capital to join its board, but said it will await a vote review and court action before seating its two remaining members.
- China's booming Internet population has surpassed the United States to become the world's biggest, with 253 million people online despite government controls on Web use, according to government data reported Friday.
- In a July 24 story rounding up earnings reported by three U.S. newspaper companies and the industry's general outlook, The Associated Press misspelled the name of a fourth news media company. Gannett Co. is the correct spelling, not Gannet.
- The Coast Guard says the Mississippi River has reopened to limited ship traffic following a massive oil spill.
- Federal officials proposed more than $8.7 million in fines Friday against Imperial Sugar Co. for violations at a Georgia plant where an explosion this year killed 13 people and at another plant in Louisiana.
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FROM SUNDAY'S INQUIRER
- A big reach: Gas from a stone
Energy companies leasing land in Pa. for natural gas.
WAYNE COUNTY, Pa. - In this bucolic northeastern corner of Pennsylvania, old-timers and newcomers alike feel deep attachment to the land.
BUSINESS PEOPLE
Keep up with local hirings, departures, insider trades and board moves. Go to the Business People page.
Keep up with local hirings, departures, insider trades and board moves. Go to the Business People page.
BUSINESS FEEDS
A page of feeds from business sources around the Web. Click here.
A page of feeds from business sources around the Web. Click here.
Tax season is over, but it's not too early to get in shape for next year. IRS spokesman David Stewart is still available to answer your questions. Also, find a full page of tax-help articles and links.
Here's how to reach the business news desk.
Tax season is over, but it's not too early to get in shape for next year. IRS spokesman David Stewart is still available to answer your questions. Also, find a full page of tax-help articles and links.
Today's Inquirer
NEW YORK - The number of households facing the foreclosure process more than doubled in the second quarter compared to a year ago, according to data released today.
Today's Inquirer
Will lower prices quash incentive to conserve? Or, will they boost demand, and prices again? All agree: Expect volatility.
Oil prices are looking up.
As in, they're finally going down.
They could go down enough to salve the troubled psyche of American buyers and sellers and give the economy a much-needed boost, said Stephen Schork, a Villanova-based analyst and trader who edits an energy newsletter.
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SPECIAL REPORTS
A special section on the region's biggest employers, hottest performers, highest paid CEOs, local employment scene and more.
- What Is Your Home Worth?
Subprime Pain
Many homeowners with adjustable mortgages face growing monthly payments. Some wonder where the money will come from.
COAL'S NEW SHINE
The price of coal is soaring. Demand is up. No one could be happier than Greene County's miners, who dig the steady work and fat paychecks.
WAYNESBURG, Pa. - All night and day, trains rumble through the hills and valleys of Greene County, where coal is king and the rails carry away the crown jewels, 42 million tons of black bituminous a year, now fetching double its price of just two years ago.
Philadelphia Business Today
Philadelphia Business Today, 7/25 - June was a cruel month for Philadelphia housing market. And a local bankrupt company is purchased. No layoffs are expected. Plus, it may be a bloggers best friend, but a local company is being sued.
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