Tuesday, January 27, 2015

Business

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A spokesman for Gov. Christie on Tuesday declined to comment on a Moody's Investors Services report suggesting that the appointment of an emergency manager is a credit negative not just for Atlantic City, but also for other financially troubled municipalities in New Jersey, such as Newark and Paterson.
NEW ORLEANS (AP) - A BP executive has taken the stand as lawyers for the oil giant make their case for a federal Clean Water Act penalty well under the $13.7 billion maximum for the 2010 Gulf oil spill.
Lyft, the ride-share service known for the distinctive pink mustaches that adorn its drivers' cars, says it will launch service in Philadelphia on Friday, in defiance of a ban by the Philadelphia Parking Authority.
SAN FRANCISCO (AP) - Thieves in a stolen SUV smashed through the glass doors of the Wells Fargo History Museum in downtown San Francisco before dawn Tuesday and made off with up to 10 ounces of historic gold nuggets worth roughly $10,000, police said.
The Street: Still a relatively new offering in most states, this form of insurance tracks driving behavior through a small sensor installed in a car or through an existing on-board communications system.
The Street: Some 35% of employees report they will look for a new job if they do not receive a pay raise in the next 12 months and 48% believe they can find a job matching their current experience and compensation levels in the next six months.
PhillyDeals: Shares of DuPont Co. opened lower this morning after the Wilmington-based credit card company posted disappointing fourth-quarter sales.
Meyer, an Ardmore architecture and interior-design firm, said it joined an association with 16 other firms, called ONE Global Design Network.
As Peltz-backed $8.7B merger nears
Pennsylvania-based chocolate manufacturer Hershey’s has blocked imports of British-made Cadbury chocolate from entering the U.S.
Sunoco Logistics Partners L.P., the Philadelphia pipeline and fuel terminal operator, increased its cash distribution Tuesday for the 39th straight quarter.
WASHINGTON (AP) - Oppenheimer & Co. is paying $20 million in civil settlements with U.S. regulators who accused the investment firm of improper sales of penny stocks and inadequate controls against money laundering.
NEW YORK (AP) - Popular disappearing-message app Snapchat is introducing content from media companies such as Vice, CNN and People to its service as it works to broaden its audience.
NEW YORK (AP) - Supermarket chain Albertsons says U.S. regulators have approved its purchase of competitor Safeway Inc.
Prime-time viewership numbers compiled by Nielsen for Jan. 19-25. Listings include the week's ranking and viewership.
SAN FRANCISCO (AP) - Microsoft shares plunged 10 percent Tuesday after the software giant reported quarterly revenue that beat expectations but warned that a weak PC market and a strong dollar will curb growth this year. Many analysts slashed price targets on the stock and some cut their Buy ratings to Hold.
MILWAUKEE (AP) - Wisconsin Gov. Scott Walker says the state will help the Milwaukee Bucks pay for a new basketball arena with $220 million in bonds that would be paid for by projected growth in income taxes from NBA players.
Pfizer Inc.'s fourth-quarter profit fell by half as worsening generic competition and unfavorable currency rates reduced sales, and higher research spending and legal costs also hurt the bottom line.
ST. PAUL, Minn. (AP) - 3M Co. (MMM) on Tuesday reported fourth-quarter profit of $1.18 billion.
It’s beginning to look like Gallery South near 11th and Chestnut streets. Several of the kiosk and store owners who for years worked side by side in the Gallery, on Market Street between 8th and 11th streets, will continue to be neighbors at new stores clustered near Jefferson University Hospital’s Gibbon Building on Chestnut Street at 11th.

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