A Hanover Township woman won a $100,730 jackpot Friday while playing a Penny Hot Shot progressive slot machine at Mohegan Sun at Pocono Downs. Casino spokesman Jim Wise said the woman did not want to be interviewed or otherwise identified. Wise said she had been playing for less than 10 minutes.
Federal regulators on Friday adopted a new system of special fees paid by U.S. financial institutions that will shift more of the burden to bigger banks to help replenish the deposit insurance fund.
The Federal Deposit Insurance Corp.’s board voted 4-1 to approve the new fee system. It is intended to raise $5.6 billion in the face of a cascade of bank failures that have depleted the insurance fund. The lone dissent came from U.S. Comptroller of the Currency John Dugan, whose agency regulates national banks.
The FDIC now expects bank failures will cost the fund around $70 billion through 2013, up from a previous assessment of around $65 billion.
The company that made President Barack Obama’s election night and Inauguration Day threads could stave off liquidation with a joint bid from a British company and an American company.
Hartmarx Corp., which sells business and golf attire, said Friday it has signed an agreement to sell all its assets for about $85.5 million to “stalking horse” bidders Emerisque Brands U.K. Limited and SKNL North America BV. Hartmarx labels include Hickey-Freeman, Palm Beach, Naturalife, b.chyll and others.
In bankruptcy court parlance, stalking horse bidders typically make an initial offer that will be accepted only if other higher bids do not emerge.
Buried in a housing law signed this week by President Barack Obama are protections that will help thousands of renters stay in their homes — at least for awhile — after their landlord has been foreclosed on.
The law allows tenants to remain in their foreclosed rentals through the end of their lease and then 90 days after that before being forced to vacate by the lender.
Wealthy nations, as history’s biggest polluters, should cut greenhouse gas emissions by 40 percent from 1990 levels by 2020, China said in a policy document on climate change. The government also rolled out fresh help for solar power and other “green energy” — the Ministry of Finance promised 38 billion yuan ($5.6 billion) in subsidies to promote wider use of wind and solar power and encourage the use of energy efficient cars and appliances, state media reported.