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Dallas Fed's Fisher, Philadelphia Fed leaders to retire in 2015

WASHINGTON — The outspoken president of the Federal Reserve Bank of Philadelphia will step down in March, shortly before the central bank is expected to raise interest rates for the first time since the recession, the regional bank said Monday.

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Ex Rangers manager Washington apologizes for 'breaking wife's trust'

IRVING, Texas (AP) — Former Texas Rangers manager Ron Washington says he is embarrassed for 'breaking his wife's trust.'

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Troubled RadioShack files SEC form, talks with 'major vendor'

RadioShack Corp.’s latest filing with the U.S. Securities and Exchange Commission describes recent discussions that “could be beneficial to the financial restructuring of the company.”

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REIT plans demolition of Fort Worth's Westchester Plaza, mixed-use redevelopment

The developer is seeking a $3.8 million reimbursement from the Southside tax increment finance district.

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Road Show: City leaders prepare campaign to corral votes for $450 million arena

Fort Worth’s biggest backers of a new arena at the Will Rogers Memorial Center are leaving little to the chance of a “no” vote in a citywide election Nov. 4 to decide on new fees that would fund 15 percent of the $450 million project.

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Oil falls as US shows signs of patchy growth


PAMELA SAMPSON, AP Business Writer

BANGKOK (AP) — Oil prices fell again Thursday amid worries about the U.S. economy and signs of a slowdown in demand.

Benchmark oil for November delivery was down 33 cents to $102.33 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract dropped 47 cents on Wednesday to finish at $102.66 a barrel, the lowest closing price since July 3.

Oil has fallen 7 percent since closing at a two-year high of $110.53 on Sept. 6. Since then, diplomatic efforts have averted a U.S. military strike against Syria, and tense relations between the U.S. and Iran have shown signs of a thaw. As a result, the market has removed the so-called political risk premium from oil, which some analysts put at about $5 to $6 a barrel.

But worries about the U.S. economy continued to trouble traders. Orders for durable goods, which are big ticket items expected to last at least three years, increased a disappointing 0.1 percent in August, held back by a decline in demand for defense aircraft and other military goods.

Meanwhile, demand for so-called core capital goods rose 1.5 percent, not enough to reverse the decline of 3.3 percent the previous month. Core capital goods are a good measure of businesses' confidence in the economy and include items that point to expansion, such as machinery and computers.

"This suggests that businesses continue to remain cautious on spending amidst uncertainties," said Cynthia Kalasopatan of Mizuho bank Ltd. in Singapore in a market commentary.

Meanwhile, supply numbers pointed toward a possible slip in demand. The American Petroleum Institute reported a slight drop in U.S. crude oil for the week ended Sept. 20 while the U.S. Energy Department said supplies increased by 2.6 million barrels that week.

Brent crude, the benchmark for international crudes used by many U.S. refineries, slipped 11 cents to $108.21 a barrel on the ICE Futures exchange in London.

In other energy futures trading on Nymex:

— Wholesale gasoline fell 0.6 cent to $2.651 per gallon.

— Natural gas rose 0.7 cent at $3.50 per 1,000 cubic feet.

— Heating oil fell 1.3 cents to $2.97 per gallon.

 

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Arena
What do you think of the new plans for a new Will Rogers arena and changes at the Convention Center?