Business News

Emergency Funds Requested by NY Lawmaker for Immediate Repair of Leaking Sewage System

Emergency state funding is being requested by a New York lawmaker to help Amsterdam town in Montgomery County repair its age old sewer system which has faced system failure and leaking pipe problems in recent times.

On Thursday, Angelo Santabarbara, D-Rotterdam, wrote an open letter to Governor Andrew Cuomo requesting him to release emergency funds to "address immediate repairs needed to the sanitary sewer infrastructure along Forest Avenue."

Tax Free Weekend Kicks-in in Many States

Tax free holidays are approaching in several states including Tennessee, Arkansas, Alabama, Georgia, Connecticut, Florida, Iowa, Maryland, Mississippi, Louisiana, Missouri, Ohio, Oklahoma, New Mexico, Texas, South Carolina and Virginia.

On Friday the first day of the three day event, large number of bargain hunters arrived at retail shops and malls in Nashville, Tennessee, as the state celebrates its eleventh yearly sales tax holiday. The time matched that back-to-school shopping season.

NextEra Agrees to Buy Bankrupt Energy Future Holding’s Stake in Oncor Electric Delivery Co

June Beach, Florida based Power producer NextEra Energy Inc said it agreed to acquire bankrupt Energy Future Holdings Corp's stake in Oncor Electric Delivery Co for $18.4 billion.

Facebook has Still Not Responded to Repeated IRS Tax Summons

In July, the U.S. Department of Justice filed a petition in order to pressurize Facebook Inc. to hand over information to the Internal Revenue Service regarding transfer of assets to social networking companies Ireland based holding company.

Mini launches 2016 Clubman Cooper S in the UAE

BMW's sub-brand Mini has announced the launch of its new 2016 Clubman Cooper S in the UAE market.

The new model comes is a 5-door wagon compared to the previous Clubman that had a rear-hinged rear door on only one side. The model comes with extra wheelbase that allows larger rear legroom and has good space for adults. The width of the vehicle is limited and the armrest is shared even in the front seat but it is described as a great car. The length of the car is comparable to VW Golf GTI.

Atlantic City will Receive Loan and Make Debt Repayment on Monday

Atlantic City is finally getting a loan that will help it sail though the end of this year and avoid a default as well as a possible bankruptcy. While it avails the loan, the city will look for ways to help fix its finances. That also ends the recent spat with Governor Chris Christie who was angered by earlier loan negotiations.

The terms of the loan are however quiet stringent and in case the struggling Jersey gambling town is not able to pay back the loan, its assets could be taken over by the state including its water utility and the earlier- Bader Field airport.