July 28, 2016 |
The temperature hit 97 degrees on day one of the Democratic National Convention, and it was expected to hit 95 on Tuesday. But those are just numbers on a thermometer. How about some data on the tangible aspects of searing heat? To wit: Philadelphia spent $39,000 to buy 88 pallets - 152,064 bottles - of water for distribution to people who were outdoors in some convention-related capacity, the mayor's office said. That includes demonstrators, city personnel, and members of the public.
July 8, 2016 |
U.S. airline stocks tumbled again Wednesday after a Wall Street analyst downgraded ratings on American Airlines, Philadelphia's dominant carrier, and on United Airlines. Credit Suisse analyst Julie Yates cited negative trends including weak European travel demand, expensive labor costs, and disappointing revenue per seat mile flown, a key industry measure. Depreciation of foreign currencies against the U.S. dollar has hampered inbound international travel, even before Britain voted to leave the European Union, the U.S. Travel Association said in a report.
July 7, 2016 |
SEPTA's decision to ground the largest fleet of passenger railcars built by Hyundai Rotem's South Philadelphia factory didn't hurt the company's share price, which rose modestly in trading Monday on the Korea Stock Exchange. Hyundai Rotem's investors such as Vanguard Group are used to the political, scheduling, and quality-control disputes that often plague multinational military and transit-vehicle providers, such as Hyundai Rotem. Still, the headlines over the weekend - that inspectors are checking welds while passengers are herded into crowded, older trains, possibly for months - do not help the company's efforts, or the city's, to achieve the decades-old dream of growing its Weccacoe Avenue plant into a center for the U.S. passenger railcar business, and become a successor to long-vanished American manufacturers.
July 4, 2016 |
PHOENIX - It was here where Maikel Franco began thinking about the future, how an 89-mph fastball to his wrist last August helped persuade the young Phillies slugger to later take a meeting with a San Francisco start-up that sells stock in professional athletes. He had signed for $100,000 as a teenager in the Dominican Republic, made a few thousand for five months a year in the minors, and had attained a label as one of the better young hitters in the game. Franco recently played his 162nd major-league game, and the fastball that broke his wrist stands as an inflection point.
June 30, 2016 |
Shares of Endo International jumped 18.26 percent Tuesday after the announcement that its operating company, Par Pharmaceutical, was issued a patent on a medicine to increase blood pressure in adults suffering from post-cardiotomy or septic shock. Endo shares rose $2.50 to $16.19. The injectable treatment, Vasostrict, is the first Food and Drug Administration approved product to treat the condition. The patent, which expires in 2035, will help stave off competitor drugs. Endo, whose stock previously reached a 52-week high of $88.54, has had a string of bad news, and in May lowered its financial guidance for 2016.
June 20, 2016 |
The day after Philadelphia became the first big U.S. city to tax soda by the ounce, Mayor Kenney got powdered up for a CNN interview as the phones in his office kept ringing. Other cities wanted to know how he'd done it. National headlines said, "Philadelphia passes soda tax after mayor rewrites playbook. " Ed Rendell's brother, a lawyer, texted from Texas: "Congrats on the soda tax. " Former Gov. Rendell gushed Friday: "This is a big win for Jim Kenney. Being the first major city in the country to do this is significant, and he did it for the right reason.
June 13, 2016 |
WASHINGTON - The third day of the Major League Baseball draft is a time to stockpile organizational depth, spliced with risks on some high-school players likely headed to college. The Phillies could have some cash to take those risks. They used their first three picks on the draft's final day to select three prep players from California - an area they mined in this June's draft. Josh Stephen, an outfielder from Mater Dei (Calif.) High, has a commitment to Southern Cal. He was the 11th-round pick.
May 27, 2016 |
Innocoll Holdings in Newtown Square said Wednesday that its non-opioid implant for postoperative pain relief met "statistical significance" in patients without the need for other pain medicines, such as opioids. The company's stock jumped 47.8 percent to close at $10.51 on the news, which comes at a time when regulators are pushing drug companies to come up with alternatives to opioids. Innocoll's spongelike implant to relieve pain after abdominal hernia surgery is inserted into an incision site during the operation.
May 14, 2016 |
City Council President Darrell L. Clarke is looking to pump $100 million into preserving Philadelphia's aging housing stock, including giving owners of deteriorating homes loans for repairs. He has proposed paying for the effort with a bond, and on Thursday introduced legislation to pay the debt service on that borrowing with a 0.1 percent increase in the real estate transfer tax. Clarke said he wanted to "expeditiously change neighborhoods. " "Not little, rehab four or five houses at a time," he said.
April 16, 2016 |
Fort Washington-based Madrigal Pharmaceuticals, which is developing a drug to treat hereditary and obesity-related liver troubles, is combining with Synta Pharmaceuticals Corp., of Lexington, Mass., which has cash and a stock-market listing but no product after its lung-cancer treatment failed to advance in clinical trials last year. The deal will pay Madrigal's owners and managers Synta stock worth more than $80 million. Madrigal shareholders will control 64 percent of the shares in the combined company.