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Business news in brief

In the Region

Casino closures could hit bonds

Moody's Investors Services put on review for possible downgrade two series of bonds issued by New Jersey's Casino Reinvestment Development Authority, citing the pending closure of three Atlantic City casinos through Sept. 16. The closures will take 3,600 rooms out of use. The $63 million issue from 2004 was to be paid back by a $3-per-night hotel-room fee. The CRDA collected $10.7 million in hotel fees in 2013, down from $14 million 10 years ago. The second set of bonds, a $195 million issue from 2005, is secured by specific levies, including part of a $3 parking fee at Atlantic City casinos. Both issues have weak ratings, in the Baa range. - Harold Brubaker

Chicken cutlets recalled

A New Jersey company is recalling more than 8,300 pounds of chicken cutlets because of possible listeria contamination. Federal officials announced the recall by Fairfield-based Tnuva USA. The possible contamination involving the Mom's Chicken Extra Thin Cutlets product was discovered during a routine sampling by federal officials. The company is recalling roughly 8,316 pounds of cutlets produced on Aug. 18, 2013, and shipped to the company's distributor in New Jersey. Officials say the product was held and did not enter the marketplace. There have been no reports of illnesses. - AP

Lannett profit up sixfold

Lannett Co., a Philadelphia drugmaker that last week raised its earnings guidance, said that for the fiscal fourth quarter ending June 30, profit rose more than sixfold, to $23.5 million, or 64 cents per share, from $3.6 million, or 12 cents per share. Sales doubled to $80.6 million from $40.2 million. Full-year net sales rose 81 percent, to $273.8 million. For fiscal 2015, Lannett issued guidance saying it expects to significantly exceed the latest results, with sales in the range of $350 million to $370 million. Shares, which closed down three cents, at $29.32, before the announcement, rose in after-hours trading. - Reid Kanaley

$4M incentive to firm's move

The Charlotte (N.C.) City Council approved an incentive package for Sealed Air Corp., which announced last month that it was moving its headquarters from Elmwood Park, in North Jersey, to North Carolina. The package provides the company with more than $4 million in local incentives over seven years. The move is expected to create more than 1,200 jobs in the Charlotte area over the next three years. Sealed Air makes Bubble Wrap protective cushioning, food packaging, and cleaning products. - AP

Elsewhere

SEC adopts securities rules

Federal regulators voted to require financial firms that sell securities backed by loans, like the kind that fueled the 2008 financial crisis, to give investors details on borrower credit records and income. The Securities and Exchange Commission adopted the rules for securities linked to mortgages and auto loans on a 5-0 vote. The commissioners also imposed new conflict-of-interest rules on the agencies that rate the debt of companies and governments, and issues of securities. - AP

Biggest-ever REIT IPO

Paramount Group Inc., a U.S. office landlord, filed for an initial public offering that is poised to be the largest ever for a real estate investment trust. The New York-based company plans to raise more than $2.5 billion in the offering, according to people familiar with the matter who asked not to be identified because the information is private. The company's filing with the Securities and Exchange Commission did not give a price range or number of shares to be sold. - Bloomberg News

FBI looks into bank hacks

Russian hackers attacked the U.S. financial system in mid-August, infiltrating and stealing data from JPMorgan Chase & Co. and at least one other bank, an incident the FBI is investigating as a possible retaliation for government-sponsored sanctions, according to two people familiar with the probe. The attack resulted in the loss of gigabytes of sensitive data, said the people, who asked not to be identified because the probe is still preliminary. Authorities are investigating whether recent infiltrations of major European banks using a similar vulnerability are also linked to the attack, one of the people said. - Bloomberg News

Alibaba head is China's richest

Jack Ma is China's richest person. The 49-year-old founder and chairman of Alibaba Group Holding Ltd. has a net worth of $21.8 billion, according to the Bloomberg Billionaires Index. His assets include a 7.3 percent economic interest in China's largest e-commerce business, which is preparing for what could be the largest initial public offering in U.S. history, and almost half of the parent of Alipay, a separate online-payment service that previously had not been included in his net worth calculation. - Bloomberg News