PENNSYLVANIA

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Toll Brothers posts wider Q4 loss, shares fall

Luxury U.S. homebuilder Toll Brothers Inc reported a wider-than-expected quarterly loss on Thursday as revenue slumped and it wrote down the value of its land holdings, sending its shares down 7.5 percent.

Obama vows to tackle jobs challenge head-on

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President Barack Obama on Thursday urged corporate America to help tackle the nation's highest unemployment in 26 years but also hinted at federal tax credits and aid to states to ease jobless woes.
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Black Friday sales barely up, online surges

In a worrisome sign for retailers, data released on Saturday showed that sales rose a scant 0.5 percent on the traditional kickoff to the holiday shopping season despite early signs of a strong showing.
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Hershey Trust asks state AG's OK on Cadbury-WSJ

The Hershey Trust, the charitable trust that is the major shareholder of Hershey Co, has sought the approval of the Pennsylvania attorney general for a potential $17 billion bid for Cadbury Plc, according to the Wall Street Journal.
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Icahn outbids Penn for Fontainebleau Las Vegas

Financier Carl Icahn has offered $156.5 million to acquire the partially built Fontainebleau Las Vegas resort, which has been stalled in bankruptcy court since June, according to the resort's chief operating officer.
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Existing home sales seen at highest since July 2007

Sales of existing U.S. homes likely rose for second consecutive month in October, reaching their highest level since July 2007, according to a Reuters poll, as buyers scrambled to take advantage of greater affordability and a first-time home buyer tax credit.
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Hershey merger talk makes waves in a company town

In a company town where the street lamps are shaped like chocolate Kisses and orphans are cared for with corporate largesse, the prospect that America's biggest chocolate maker may merge with a foreign entity has unnerved some people.
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Obama to launch cross-country economic tour

U.S. President Barack Obama will hold a forum on job creation with U.S. business leaders on December 3 and then embark on a cross-country tour to discuss economic recovery, the White House said on Monday.
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Retail sales surge on autos, manufacturing slows

U.S. retail sales grew more than expected last month as vehicle purchases bounced back, but non-auto sales rose modestly, suggesting consumers remained too cautious to drive a robust economic recovery.
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Strong autos to lift Oct U.S. retail sales

U.S. retail sales rebounded in October as vehicle purchases rose even without support from government incentives, a Reuters survey predicted, which could allay some fears over the strength of the economy's recovery.
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Stocks set to rise as commodities boost

Wall Street was set to rise at the open on Monday, adding to two weeks of gains, as a decline in the U.S. dollar helped lift commodity prices and boost natural resource stocks while data showed consumers spent more than expected in October.
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Strong autos to lift October U.S. retail sales

U.S. retail sales rebounded in October as vehicle purchases rose even without support from government incentives, a Reuters survey predicted, which could allay some fears over the strength of the economy's recovery.
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Rue21 shares soar 26 pct in Nasdaq debut

Shares of youth apparel retailer rue21 Inc rose in their debut on the Nasdaq, opening 26.3 percent over Thursday's initial public offering and putting the company on pace for one of the biggest first-day performances of an IPO this year.
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9/11 suspects to be tried in New York

The alleged mastermind of the September 11, 2001 attacks, Khalid Sheikh Mohammed, and four others will be sent for prosecution in a criminal court in New York from the U.S. military prison at Guantanamo Bay, Cuba, an Obama administration official said on Friday.

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