Saturday, August 23, 2014
Inquirer Daily News

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The Street: Enterprise Community Partners, a nonprofit housing organization with a for-profit subsidiary, has gained some prominence as an objective, dispassionate tracker of multibillion dollar mortgage settlements, such as Thursday's $16.65 billion agreement with Bank of America.
The Street: While churches, charities, civic and business organizations, fraternal societies and credit unions don't have to pay income taxes, those with compensated employees are required to withhold and pay payroll taxes. But more than $875 million is past due, more than one quarter of which dates back to tax periods prior to 2007, according to a report issued by the Treasury Inspector General for Tax Administration (TIGTA).
The Street: Prior to his execution, American journalist James Foley was held for a $123 million ransom by militants of the Islamic State. While the U.S. government refuses to negotiate with terrorists, behind the scenes, Foley's employer and family desperately tried to raise at least a portion of the demand in an attempt to save his life.
An umbrella group for Pittsburgh-area labor unions has told Gov. Tom Corbett he can't march in the city's Labor Day parade, despite an invitation from at least two individual unions.
A New Jersey appliance chain has agreed to pay $1.56 million to settle allegations it failed to pay New York taxes over a 10-year period.
McDonald's named a new president for its struggling U.S. division on Friday, marking the second change in the high-profile spot in less than two years.
Americans of all ages are familiar with the famous "J-E-L-L-O" jingle and TV ads featuring comedian Bill Cosby. Yet despite its enduring place in pop culture, sales have tumbled 19 percent in the past four years, with alternatives such as Greek yogurt surging in popularity.
Randi Warhol, 26, sometimes notices cats following her home. Why? The egg rolls in her purse. But these are not your typical egg rolls; rather, they’re fabric replicas filled with organic catnip – just one of the many products from Warhol’s own cat toy company, Polydactyl Cats.
Economics in a nutshell: If you don't like two armed economists, you will truly dislike the talk that Fed Chair Janet Yellen gave today at the Federal Reserve Bank of Kansas City's Economic Symposium in Jackson Hole, Wyoming.
The Street: The White House is in the process of sending out email blasts to people with student loans to serve as reminders to pay.
The Street: It's too bad the Jackson Hole conference is today and that Fed chief Janet Yellen speaks, because that will allow people to be deluded into thinking that it isn't Russia-Ukraine that's driving things, but the Fed's machinations about rates. It's Russia, stupid.
WASHINGTON (AP) - More than 1,000 U.S. retailers could be infected with malicious software lurking in their cash register computers, allowing hackers to steal customer financial data, the Homeland Security Department said Friday.
WASHINGTON (AP) - The central bankers meeting this week at their annual conference in Jackson Hole, Wyoming, aren't exactly in sync. Many are taking steps that clash with the policies of others.
WASHINGTON (AP) - The internal records of as many as 25,000 Homeland Security Department employees were exposed during a recent computer break-in at a federal contractor that handles security clearances, an agency official said Friday.
The stock market paused Friday, following four days of gains, after a speech by Federal Reserve Chair Janet Yellen left investors unclear about the central bank's next move on interest rates.
NEW YORK (AP) - Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market:
SALEM, Ore. (AP) - The state of Oregon filed a lawsuit Friday against Oracle America Inc. and several of its executives over the technology company's role in creating the troubled website for the state's online health insurance exchange.
About 2.2 million bean bag chairs are being recalled following the deaths of two children who suffocated after they crawled inside the chairs. Other recalled products include convertible cribs with a defect that can create a hazardous gap.
LAS VEGAS (AP) - Senate Majority Leader Harry Reid apologized Friday for jokes he made about Asians during a luncheon of business leaders in Las Vegas earlier this week.
Mayor Nutter has organized a diverse national group of 51 mayors who support Comcast Corp.'s proposed $45 billion acquisition of Time Warner Cable Inc., saying the deal would lead to significant economic benefits in the communities, including jobs.