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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Ski Grand Prairie? TCU, UTA grad helping bring snow to Metroplex

For Levi Davis last week may have been a career peak, in more ways than one.

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GE rises most in year with equipment order increases, including at Fort Worth locomotive unit

NEW YORK — General Electric Co. beat analysts' profit estimates in the third quarter as Chief Executive Officer Jeffrey Immelt squeezed more costs from the manufacturing units.

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Cheesecake Factory gets ready to serve; Sundance tree lighting set

The Cheesecake Factory at Sundance Square will open on Dec. 9, officials with Sundance announced today. The 8,800-square-foot restaurant - being built in the

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Oil lower amid jitters over US government shutdown

EILEEN NG, Associated Press

KUALA LUMPUR, Malaysia (AP) — Oil prices were lower Monday amid jitters as a battle loomed in Washington among U.S. political leader over a federal budget needed to avoid a partial shutdown of the government.

Benchmark oil for November delivery fell $1.32 to $101.55 per barrel at early afternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract fell 16 cents to close at $102.87 a barrel on the Nymex on Friday.

The U.S. government will reach its borrowing limit, or debt ceiling, on Tuesday. If Congress doesn't raise that limit, the government won't be able to pay all its bills and some 800,000 of the 2.1 million federal employees will not go to work.

A lasting solution seems far off as the White House and Republican lawmakers still disagree sharply on spending cuts and other key budget issues.

"The economy will slow down, confidence will slide and demand for crude will be hurt. There will be a real snowball effect if the partial shutdown goes ahead," said Evan Lucas, analyst with IG in Melbourne.

Goldman Sachs estimated that a three-week shutdown would slow the economy's annual growth rate in the October-December quarter by up to 0.9 percentage point. If so, the growth rate next quarter would be a scant 1.6 percent, compared with market expectations of a 2.5 percent growth.

Oil has already fallen for three straight weeks as diplomatic efforts surrounding Syria and Iran eased concerns about Middle East supplies.

Brent crude, the benchmark for international crudes used by many U.S. refineries, fell 87 cents to $107.76 a barrel on the ICE Futures exchange in London.

In other energy futures trading on Nymex:

— Wholesale gasoline fell 2.2 cents to $2.638 per gallon.

— Natural gas fell 3.3 cents to $3.556 per 1,000 cubic feet.

— Heating oil lost 1.8 cents to $2.9671 per gallon

 

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