Wednesday, January 28, 2015

Business

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LOS ANGELES (AP) - Funk legend Sly Stone was awarded $5 million on Tuesday in a breach-of-contract suit that claimed his business partners and his own company cheated him out of royalties.
They sell IT expertise to make small- and mid-size businesses run smarter and more efficiently.
U.S. stocks slumped Tuesday after some of the market's largest companies reported disappointing earnings. Rattling the market were Microsoft, Caterpillar, and Procter & Gamble, among others. Some companies also forecast weaker results in months ahead.
In the Region N.J., Pa. unemployment falls Unemployment rates fell in 42 U.S. states last month, including New Jersey and Pennsylvania, the latest...
American Airlines and merger partner US Airways reported better-than-expected fourth-quarter earnings Tuesday, and the company expects to save $5 billion this year in lower fuel costs.
Philadelphia merchants, in the spirit of "if life gives you lemons, make lemonade," tried to turn snow into snow cones Monday and Tuesday, making up for revenue lost in the storm-that-wasn't.
Drugmaker Pfizer Inc. might grow, or break up, or some combination of both. Chief executive officer Ian Read said Tuesday that Pfizer will keep looking for companies to buy and is taking the next steps to see whether its pieces are worth more than the sum of its parts.
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 its service in Philadelphia on Friday, in defiance of a ban by the Philadelphia Parking Authority.
SAN FRANCISCO (AP) - Thieves rammed a stolen SUV into a downtown San Francisco museum early Tuesday and swiped historic gold nuggets in the latest smash-and-grab theft in the area in recent months.
STOCKHOLM (AP) - Home appliance maker Electrolux swung to a profit in the fourth quarter, citing cost cuts and rising sales.
STOCKHOLM (AP) - Swedish fashion retailer Hennes & Mauritz says its earnings rose by 12 percent in the fourth quarter, boosted by expansion in the United States and China.
BERLIN (AP) - German consumer confidence is at a 13-year high, buoyed by a rise in disposable income due to collapsing fuel and heating oil costs.
TOKYO (AP) - Nintendo reported a five-fold increase in profit for the first three quarters of the fiscal year and raised its earnings forecast, boosted by a cheap yen.
SAN FRANCISCO (AP) - Yahoo CEO Marissa Mayer is losing a precious security blanket now that she is spinning off the Internet company's prized stake in China's Alibaba Group.
WASHINGTON (AP) - More than 6 in 10 Americans would want Congress to restore federal financial assistance for millions buying health care coverage under President Barack Obama's health care law if the Supreme Court invalidates some of those government subsidies, a poll said Wednesday.
DALLAS (AP) - AT&T booked a nearly $4 billion loss for the fourth quarter because of a slew of one-time expenses that included a loss on benefit plans, but its revenue grew 4 percent to top expectations.
Amgen Inc. cruised to a 27 percent jump in fourth-quarter profit and beat Wall Street expectations, due to higher sales of nearly all its medicines, tight cost controls and a tax benefit.
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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