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Obama calls for offshore drilling in Southeast

WASHINGTON — The Obama administration on Tuesday outlined a politically fraught plan for allowing oil and gas drilling offshore along parts of the Atlantic coast while imposing new restrictions on environmentally fragile waters off northern Alaska.

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Two from Fort Worth appointed by Gov. Abbott to university boards

Steve Hicks, a University of Texas System regent who has been a vocal opponent of regents who have criticized the system’s flagship campus in Austin, was reappointed to the board by Gov. Greg Abbott on Thursday. 

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Museum District: Area’s evolution creating more interaction, public spaces

Fifteen years ago if someone had shot a cannon from Fort Worth’s world-renowned museum district, nobody would have noticed, joked Lori Eklund, senior deputy director of the Amon Carter Museum of American Art. But that has changed.

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Energy Transfer Partners, Regency Energy announce $18B merger

Energy Transfer Partners LP of Dallas and Regency Energy Partners LP have entered into a definitive merger agreement.

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Alliance's Hillwood Commons lands first tenant

A large title insurance, property valuation and settlement services company is the first tenant at Hillwood Commons I, an office complex at Alliance Town Center.

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New home sales surge to 5-year high

Emily Jane Fox

NEW YORK (CNNMoney) -- Sales of new homes jumped in June to a five-year high, despite the recent rise in mortgage rates.

New homes sold at an annual rate of 497,000 in June, up 8.3% from May, which was revised downward. June sales were well above the 483,000, that economists surveyed by Briefing.com were expecting,

It was the highest pace of sales since May 2008, when they reached 504,000.

Sales were 38% higher from the same period last year.

The report comes a day after the National Association of Realtors reported that sales of existing homes stumbled last month, which some experts called a possible side effect of rising mortgage rates lately.

The 30-year mortgage rate recently rose to its highest level in nearly two years to 4.51%.

The higher rates dragged down the pace of home building last month.

Record low mortgage rates, coupled with a drop in foreclosures, had helped boost the housing market over the past year. As a result, home sales, prices and construction had surged earlier this year.

But in the last 10 weeks, mortgage rates began a steady climb, raising the cost of buying a home. Rates, however, are still low by historical standards.

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