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With the completion of dredging last month of a 14-mile stretch of the Delaware River, the deepening of the river's main navigation channel to attract bigger ships and commerce is now about 60 percent complete, Philadelphia port officials said Wednesday.
With the completion of dredging last month of a 14-mile stretch of the Delaware River, the deepening of the river's main navigation channel to attract bigger ships and commerce is now about 60 percent complete, Philadelphia port officials said Wednesday.
The Federal Reserve said Wednesday that it will maintain the pace of its program to keep long-term interest rates at record lows, but offered a slightly more optimistic outlook for the U.S. economy and job market.
The Street: To fuel the new market, Western countries have created various forms of subsidy, such as "feed-in" tariffs and loan guarantees on risky breakthroughs. It's just what we did with computing, transistors and the Internet, creating market conditions before a market exists, setting the stage for a boom. So now that the boom is on the horizon, politicians are doing all they can to hand the fruit of this labor to China.
The Street: Continuing its growth in China, Ford opened a $500 million engine plant in Chongqing on Wednesday, a sign of its increasing presence - and increasing spending - in the world's largest automotive market.
The Street: Wages have been stagnant for most jobs over the past decade. So if you're hoping to increase your salary significantly, your best option is to try to make the leap into management. Here are the 10 employers with most management positions open this week.
The Street: A study by Gary Burtless, an analyst at the Center for Retirement Research at Boston College, does acknowledge that the share of the U.S. workforce 60 years old or older is "increasing" - but only highly productive workers are remaining in the workforce, making for "little evidence the aging workforce has hurt productivity."
The excavation of a field in suburban Detroit has failed to turn up the remains of former Teamsters union leader Jimmy Hoffa, the FBI announced Wednesday, adding another unsuccessful chapter to a nearly 40-year-old mystery.
Financial markets shuddered Wednesday after the Federal Reserve said it could start scaling back its huge economic stimulus program later this year and end it by the middle of next.
The Federal Reserve has taken many unprecedented steps in the past four years to try to boost the U.S. economy and counter the effects of a financial crisis that triggered a painful recession. It has kept the short-term interest rate it controls at a record low near zero since December 2008.
Shares of gene therapy developer Bluebird Bio Inc. surged in their trading debut.
THE NEWS: Men's Wearhouse Inc. says Wednesday it dismissed its founder and executive chairman George Zimmer, who appeared in many of its TV commercials with the slogan, "You're going to like the way you look. I guarantee it."
Car buyers increasingly want high-tech features like voice recognition and navigation. But they're not very forgiving of the car company when those systems fail.
Gold ended higher and grain contracts climbed in Wednesday trading.
A government analyst says the merger of American Airlines and US Airways would reduce competition on more than 1,600 routes traveled by more than 53 million passengers.
Chairman Ben Bernanke ended weeks of speculation Wednesday by saying the Federal Reserve will likely slow its bond-buying program later this year and end it next year because the economy is strengthening.
Chairman Ben Bernanke says the Federal Reserve could scale back its $85 billion in monthly bond purchases later this year if the economy continues to improve.
Weekly Top 10
Peggy Randall, co-owner of a cafe in Hoboken, N.J., cheered the Federal Deposit Insurance Corp.'s effort this week to win $219 million in damages from executives Dennis J. Alter and William A. Rosoff in the collapse of Advanta Bank Corp.
Diane Mastrull: Bryn Davis ate his way to entrepreneurship. Davis, who lives in Horsham, says he entered college a "lean-as-you-can-imagine" 170 pounds. By his junior year, he was stressing the scales at 240.
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