• New Revel owner: 'No way' casino reopens this summer

    Updated: 21 hr ago

    CAMDEN, N.J. (AP) — The casino at Atlantic City's former Revel resort won't reopen this summer, the property's new owner said Tuesday, and it's doubtful whether any of the non-gambling attractions can be reopened by Labor Day. Glenn Straub made his comments following a federal court hearing Tuesday at which he and utility company ACR Energy agreed to continue temporary electrical service there, even as he works toward getting an alternate power supplier at the site. A literal power struggle between Straub and ACR has been keeping it from at least partially reopening this summer. "A casino definitely won't open there this summer," Straub said. "There's no way.

  • Charter buying Time Warner Cable as TV viewers go online

    Updated: 21 hr ago

    NEW YORK (AP) — As TV watchers increasingly look online for their fix, cable companies are bulking up. In the latest round, Charter Communications is buying Time Warner Cable for $55.33 billion. And executives say they're confident regulators will allow the creation of another U.S. TV and Internet giant. The deal comes a month after Comcast, the country's largest cable provider and owner of NBCUniversal, walked away from a $45.2 billion bid for Time Warner Cable, the No. 2 cable company, after intense pressure from regulators. The government worried that the company would be able to undermine increasingly popular online video competitors like Netflix because the bigger Comcast would have more than half the country's high-sp

  • Deutsche Bank paying $55M settlement on incorrect reports

    Updated: 22 hr ago

    WASHINGTON (AP) — Germany's Deutsche Bank AG has agreed to pay $55 million to settle civil charges of filing incorrect reports during the financial crisis that downplayed risks of huge losses. The U.S. Securities and Exchange Commission announced the settlement Tuesday with the big German bank, which is a prominent institution on Wall Street. Deutsche Bank neither admitted nor denied the allegations but did agree to refrain from future violations of the securities laws. The SEC said that in two quarterly reports in 2008 and 2009, Deutsche Bank inflated the value of its transactions designed to hedge against losses on securities in the credit markets, which were turbulent at the time.

  • Olive Garden: At least 1 more breadstick creation on the way

    Updated: 22 hr ago

    NEW YORK (AP) — Olive Garden isn't finished dreaming up new ways to use its breadsticks. The Italian restaurant chain said earlier this month it would introduce "breadstick sandwiches" as part of a broader menu revamp intended to play up its most popular offerings. The sandwiches don't arrive until June 1, but Olive Garden already has a follow-up act planned with "breadstick crostini" in August. The "breadstick crostini" — or toasted bread — will be sliced and used as part of an appetizer, said Jose Duenas, Olive Garden's executive vice president of marketing. "The flavor profile of the breadstick is powerful," Duenas said in an interview. Olive Garden, which is owned by Darden Restaurants Inc.

  • Taco Bell, Pizza Hut: Artificial ingredients getting booted

    Updated: 23 hr ago

    NEW YORK (AP) — Taco Bell and Pizza Hut say they're getting rid of artificial colors and flavors, making them the latest big food companies scrambling to distance themselves from ingredients people might find unappetizing. Instead of "black pepper flavor," for instance, Taco Bell will start using actual black pepper in its seasoned beef, says Liz Matthews, the chain's chief food innovation officer. The Mexican-style chain also says the artificial dye Yellow No. 6 will be removed from its nacho cheese, Blue No. 1 will be removed from its avocado ranch dressing and carmine, a bright pigment, will be removed from its red tortilla strips. Matthews said some of the new recipes are being tested in select markets and should

  • US stocks are broadly lower, led by a drop in energy sector

    Updated: 23 hr ago

    NEW YORK (AP) — U.S. stocks are mostly lower as traders return from the Memorial Day holiday. Energy stocks fell more than the rest of the market Tuesday as the price of crude oil fell. Transocean, Valero Energy and Allegheny Technologies each fell 3 percent. The Dow Jones industrial average slumped 168 points, or 0.9 percent, to 18,063 as of 11:45 a.m. Eastern time. The Standard & Poor's 500 lost 17 points, or 0.8 percent, to 2,107. The Nasdaq declined 55 points, or 1.1 percent, to 5,033. Benchmark U.S. crude slumped $1.63, or 2.7 percent, to $58.09 a barrel in New York. Time Warner Cable rose 4 percent after the company agreed to be acquired by Charter Communications for $55 billion. The doll

  • Pilgrim nuclear plant back online after $70M upgrade

    Updated: 23 hr ago

    PLYMOUTH, Mass. (AP) — The only commercial nuclear power plant in Massachusetts returned to full service on Tuesday after a $70 million, monthlong, refueling and maintenance project that owners say makes the plant safer. Entergy Corp., owner of the Pilgrim Nuclear Power Station in Plymouth, said control room operators reconnected the plant to the grid after a 35-day planned shutdown. The plant's 600 employees, as well as nearly 1,200 temporary workers brought in specifically to work on the project, spent that time upgrading, replacing, overhauling and inspecting hundreds of pieces of equipment and also replacing the reactor's fuel. John Dent, Entergy's site vice president, said in a statement that the project "resulte

  • Gas up 3 cents per gallon in Massachusetts

    Updated: 23 hr ago

    BOSTON (AP) — The price of a gallon of gasoline has jumped 3 cents in Massachusetts in the past week. AAA Northeast said Tuesday that its weekly survey found self-serve, regular selling for $2.66 per gallon. Even though that is 3 cents higher than last week and 12 cents higher than a month ago, it is 8 cents per gallon lower than the current national average and 99 cents lower than the in-state price from a year ago. AAA found self-serve, regular selling for as low as $2.53 per gallon to as high as $2.89.

  • French bill seeks to boost renewable energy, cut nuclear use

    Updated: 23 hr ago

    PARIS (AP) — France's lower house of parliament has approved a bill aimed at boosting renewable energy and reducing the country's reliance on nuclear power, among other environment-friendly measures. The French government wants to be exemplary this year in environmental matters, since Paris is hosting a U.N.-backed conference in December where 196 countries aim to limit greenhouse gas emissions to fight global warming. The bill pushed by Ecology Minister Segolene Royal was approved Tuesday by the National Assembly, the lower house of parliament, with 308 votes for and 217 against. It will then go to the Senate for further discussions. At the end of the process —probably over summer— the assembly will have the final say.

  • Navy medical research lab in Connecticut gets new commander

    Updated: 23 hr ago

    HARTFORD, Conn. (AP) — A Navy medical laboratory in Groton that does research on the wellness on submarine sailors is welcoming a new commanding officer. Navy Capt. Frederick Yeo is taking over command of the Naval Submarine Medical Research Laboratory at a ceremony Tuesday on the waterfront. He replaces Capt. Steven Wechsler, whose tenure with the lab has included work on a study that led to changes in the sleep schedules kept aboard submarines. The lab at the Naval Submarine Base researched and developed the psychological screening test for prospective submariners.

  • US home prices rose at steady pace in March from year ago

    Updated: 23 hr ago

    WASHINGTON (AP) — U.S. home prices rose at a steady pace in March, pushed higher by a limited supply of houses for sale. The Standard & Poor's/Case-Shiller 20-city home price index rose 5 percent in March from 12 months earlier, the S&P said Tuesday. Prices increased at the same pace in February. Home values are rising at a faster rate than incomes, potentially pricing many would-be buyers out of the market. Yet current increases have moderated from the double-digit gains of late 2013 and early last year. Higher prices have not yet convinced enough owners to list their homes for sale, which could limit purchases during the spring selling season. Would-be buyers have fewer homes to choose from, which has sparked biddin

  • Reactor back 2 online weeks after fire at NY nuke plant

    Yesterday

    BUCHANAN, N.Y. (AP) — A reactor that was shut down during a transformer fire two weeks ago at a suburban New York nuclear power plant has returned to service. Plant owner Entergy Nuclear said Tuesday that Indian Point 3 went back online Monday. The transformer that was destroyed in the May 9 fire has been replaced. The cause of the fire is under investigation. And a cleanup continues of oil from the transformer that leaked into the nearby Hudson River. In addition, federal regulators are looking into the accumulation of water near electrical safety equipment after the fire. The other reactor on the site was unaffected. Together the reactors generate about a quarter of the power used in New York City and Westches

  • Supreme Court sides with KBR in false claims dispute

    Yesterday

    WASHINGTON (AP) — The Supreme Court has ruled in favor of defense contractor KBR Inc. in a whistleblower lawsuit over claims that the company overbilled the government for work in Iraq. The justices ruled unanimously Tuesday that former KBR employee Benjamin Carter waited too long to file a suit alleging that the company had fraudulently billed the government for water purification services in Iraq. The federal appeals court in Richmond, Virginia, said the case could go forward because a World War II-era law allows such lawsuits to be filed past the normal six-year deadline when the country is at war. The high court said the law applies only to criminal charges, not the civil claims at issue in Carter's suit. Th

  • US new-home sales jump in April

    Yesterday

    WASHINGTON (AP) — More Americans bought new homes in April — evidence that the stronger job market is powering the housing sector. The Commerce Department said Tuesday that new-home sales climbed 6.8 percent last month to a seasonally adjusted annual rate of 517,000. Sales recovered from a 10 percent dip in March to an annual pace of 484,000. The gains point to the positive momentum created by robust hiring over the past year. Employers have added more than 3 million jobs as the unemployment rate has steadily dropped to 5.4 percent. Those new paychecks are now starting to trickle into the real estate sector, as more people are shopping for homes. Sales during the first four months of the year are 23.

  • Consumer confidence edges up in May on improving job market

    Yesterday

    WASHINGTON (AP) — Consumer confidence rebounded slightly this month as the job market showed signs of improvement. The Conference Board's consumer confidence index rose to 95.4 in May from 94.3 in April. Last month's reading had been sharp drop from March's 101.4. A year ago, the index stood at 82.2. Consumers' assessment of current economic conditions improved, but their outlook for the next six months slipped. Their expectations for the job market improved, however. Consumers were more likely this month to say they planned to buy a car, home or major appliance within the next six months. Employers added a healthy 223,000 jobs last month, up from a lackluster 85,000 in March. And the unemployment rate slid to 5.

  • Small business jet rolls partly off runway at Baltimore

    Yesterday

    BALTIMORE (AP) — Aviation officials say a small business jet rolled partly off a runway at Baltimore-Washington International Thurgood Marshall Airport. Maryland Aviation Administration spokesman Jonathan Dean says no one was hurt in the incident Tuesday morning. He says the Cessna Citation arrived shortly after 8 a.m. and was traveling from a runway to a taxiway when it apparently had a mechanical problem. Dean says the aircraft's nose gear ended up on the grass at the edge of the runway. He says the aircraft was towed from the grass. Dean says commercial flight operations are not affected.

  • Supreme Court clarifies power of bankruptcy judges

    Yesterday

    WASHINGTON (AP) — The Supreme Court says bankruptcy courts have authority to rule on disputes that fall outside the bankruptcy proceedings if the parties to the case consent. The 6-3 ruling on Tuesday helps clarify the power of bankruptcy judges. That had been in question since a 2011 high court decision that limited their authority to decide non-bankruptcy issues. The case involves efforts by Wellness International Network, Ltd., to recover $655,000 in attorney fees from Richard Sharif, a Chicago resident with whom the company had a legal dispute. Sharif filed for bankruptcy in 2009 to avoid paying the debt. Wellness claimed Sharif had assets in a family trust that could be tapped and lower courts agreed.

  • US new-home sales rose 6.8 percent in April; increased demand pushing median prices near $300k

    Yesterday

    WASHINGTON (AP) — US new-home sales rose 6.8 percent in April; increased demand pushing median prices near $300k.

  • US stock index open lower as traders return from holiday

    Yesterday

    NEW YORK (AP) — Stocks are opening slightly lower on Wall Street as traders return from the Memorial Day holiday in the U.S. Time Warner Cable rose 5 percent early Tuesday, the most in the Standard & Poor's 500 index, after the company agreed to be acquired by Charter Communications for $55 billion. Charter rose 1 percent. The Dow Jones industrial average was down 95 points, or 0.5 percent, to 18,134 as of 9:35 a.m. Eastern time. The S&P 500 index lost nine points, or 0.5 percent, to 2,116. The Nasdaq composite declined 19 points, or 0.4 percent, to 5,071. Energy stocks fell more than the rest of the market as the price of oil declined. Benchmark U.S. crude was down $1.33 to $58.40 a barrel in New York.

  • Business investment climbs as factories thaw from winter

    Yesterday

    WASHINGTON (AP) — Orders to U.S. factories for long-lasting manufactured goods fell slightly in April. But a category that reflects business investment climbed for a second month, a hopeful sign that this key sector is starting to revive. Total orders for durable goods slipped 0.5 percent from March, when orders had surged 5.1 percent, the Commerce Department reported Tuesday. The big swing was driven by changes in commercial aircraft, an extremely volatile category that had jumped in March but fell in April. Orders in the business investment category rose 1 percent in April after a 1.5 percent increase in March. The gains followed a sizable 5.1 percent fall in February.




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