Thursday, December 18, 2014

Business

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A former executive for Rite Aid Corp. and a New Jersey businessman have been charged in connection with a $14.6 million, surplus inventory-sales kickback scheme, according to the U.S. Attorney's Office for the Middle District of Pennsylvania.
Economics in a nutshell: “The Fed may be shifting into “patience” mode, but the economy is continuing to accelerate.”
GOBankingRates: With the mega-success of “Serial,” the podcast world has finally proven that its medium can appeal to a wider audience and keep them coming back each week. The broader audience brought to podcasting by “Serial” could pick up other podcasts to listen to, and the proven success of “Serial” could bring more marketing money to podcasts. But for its first season, did “Serial” manage to find financial success?
The Street: Among the prognostications: Unemployment will reach 5%, the S&P 500 will hit 2,250, auto sales will top 17 million, oil will fall to $50 a barrel... oh, and US consumers will rack up at least $60 billion in credit card debt.
New Jersey authorities have issued nearly 10,000 citations to stores that pay cash for gold.
A deal between billionaire Carl Icahn and the casino workers union in Atlantic City fell apart Thursday, but Icahn said he would spend $20 million to keep the bankrupt Trump Taj Mahal open past a looming Saturday closing date.
Developer Bart Blatstein, whose plans for a sprawling casino complex at Broad and Callowhill Streets was not selected for Philadelphia's second casino license, has asked the state Supreme Court to review that decision and reopen the licensing process.
Perhaps a business school case study can be done about the fate that befell Local Collingswood, an ambitious market/cafe that folded after three weeks at 714 Haddon Ave. in the bosky borough.
GOBankingRates: Americans essentially share the same financial goals, which, for the most part, can be boiled down to saving money, paying off debt and retiring comfortably. But with a sea of financial advice out there — as diverse as it is vast, and varying in accuracy — the how;is where most people struggle in reaching those goals.
WASHINGTON (AP) - Manufacturing in the Philadelphia region grew at a much slower pace in December compared with the previous month. But the drop came after factory activity reached its highest level in 21 years in November.
TRENTON - A package of critical bills being voted on Thursday at the Statehouse will decide the fate of the Trump Taj Mahal in Atlantic City.
WASHINGTON (AP) - Taking another step toward a presidential run, Jeb Bush is resigning his advisory role with British banking giant Barclays.
WICHITA, Kan. (AP) - When crude prices were high, Kansas oilman Robert Murdock made plans to drill 20 new wells next year. Not anymore.
BERLIN (AP) - Germany's BASF SE says it has agreed with Russian gas company Gazprom to call off an asset swap that the two firms had planned for the end of this year.
KENILWORTH, N.J. (AP) - Drugmaker Merck says it's bought a Swiss biotech company developing cancer drugs as part of its strategy to be a top player in cancer, one of the hottest pharmaceutical research areas.
PORTLAND, Ore. (AP) - Amazon.com launched a service Thursday that promises one-hour delivery of household products to its Prime customers in Manhattan.
NORTHFIELD, Ill. (AP) - Kraft Foods Group Inc. says that CEO Tony Vernon plans to retire later this month. The company named Chairman John Cahill as his successor.
PARIS (AP) - Penalizing a dirty business involving cleaning products, French regulators fined 13 consumer-products makers about 950 million euros ($1.2 billion) for price fixing on goods like shampoos, detergents and toothpaste.
CAMP HILL, Pa. (AP) - Shares of Rite Aid soared Thursday after the nation's third-largest drugstore chain reported a 47 percent jump in fiscal third-quarter earnings and hiked its annual forecast after cutting it for two straight quarters.
Ride-sharing company Lyft won approval Thursday from the Pennsylvania Public Utility Commission to operate throughout Pennsylvania - except in Philadelphia.

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