Tuesday, March 31, 2015

Business

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Encouraging U.S. economic data and a batch of corporate deals put investors in a buying mood Monday, sending stocks sharply higher.
WASHINGTON - The University of Michigan, defense contractor Lockheed Martin Corp., and a foundation helping Appalachian children all own stakes in an Asian investment fund backing two major Chinese companies, which froze their stocks last week after failing to file their financial statements on time.
Atlantic City is requesting a 60-day extension of a $40 million state loan due March 31, said Michael Stinson, revenue and finance director.
In the Region Campbell's starts buyouts Camden-based Campbell Soup Co., began offering buyouts to veteran salaried employees Monday as part of its...
So many companies are getting money from New Jersey to move into Camden, real estate people are starting to run out of move-in-ready places to stick them.
Penn National Gaming Inc. said Monday that it wants to withdraw as operator of a proposed $225 million casino in Lawrence County, north of Pittsburgh, that is backed by Philadelphia-area investors.
Rihanna, Coldplay, Arcade Fire and Madonna won't just be Tidal stars. They'll be co-owners.
Economics in a nutshell: “Income is rising solidly but a lot is going into savings.”
In 2015, 3 million to 6 million Americans will owe the federal government money, according to a CNN report. "The one thing you don't want to do is ignore them. They are more than willing to set up a payment plan if you call them."
ApprenNet L.L.C., a Philadelphia education-technology company, has named Rachel H. Jacobs chief executive officer. She replaces Karl Okamoto, ApprenNet's co-founder and founding CEO, who will continue to serve as a member of the board and senior management team. Jacobs formerly was vice president of strategy and business development at Ascend Learning and launched new businesses at the McGraw-Hill Cos., where she led expansion into career solutions in China, India, and the Middle East.
Clay Thorp has been named executive chairman of the board of PhaseBio Pharmaceuticals Inc., a Malvern developer of biopolymer-based drugs. Thorp is general partner at Hatteras Venture Partners and a member of the founding team for research informatics company Synthematix, genomic biosensor company Xanthon, and Novalon, a drug-discovery company. He is co-founder and former chairman of PhaseBio.
WASHINGTON (AP) - Hillary Rodham Clinton emailed her staff on an iPad as well as a BlackBerry while secretary of state, despite her explanation she exclusively used a personal email address on a homebrew server so that she could carry a single device, according to documents obtained by The Associated Press.
THE HAGUE, Netherlands (AP) - Electronics giant Philips says it is selling a majority stake in its LED components and automotive lighting division to a consortium led by investment fund GO Scale Capital in a deal worth up to $2.9 billion.
BEIJING (AP) - Huawei Technologies Ltd., one of the world's biggest makers of telecommunications equipment, says its 2014 profit rose 33 percent, helped by strong sales of smartphones.
BEIJING (AP) - A groundbreaking solar-powered plane successfully flew from Myanmar to central China early Tuesday as part of an historic round-the-world journey promoting renewable energy use.
WASHINGTON (AP) - Sarah Dieffenbacher is on a debt strike. She's refusing to make payments on the more than $100,000 in federal and private loans she says she owes for studies at a for-profit college that she now considers so worthless she doesn't include it on her resume.
NEW YORK (AP) - IBM says it is investing $3 billion over the next four years to create an "Internet of Things" business unit that will collect and analyze data from smartphones, tablets and other connected devices so that businesses can use it in their operations.
BEIJING (AP) - U.S. Treasury Secretary Jacob Lew pressed Chinese leaders to suspend proposed curbs on foreign security technology and said a Beijing-led regional bank should work in partnership with existing institutions.
WASHINGTON (AP) - Interest rates on short-term Treasury bills rose in Monday's auction to the highest levels in two weeks.
It was doctors against lawmakers, science against anecdotes, at Tuesday's joint committee hearing on medical marijuana. Yes, joint. Twenty state representatives from the Judiciary and Health Committees, mostly Republicans, filed into Pennsylvania Hospital on Tuesday, many bearing grim accounts of ill constituents who say pot helps them feel less pain.
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