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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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RadioShack sees stock jump on investment report

Fort Worth-based RadioShack saw its stock increase as much as 45 percent on Friday as investor Standard General LP said it was continuing talks on new financing for the electronics retailer.

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Fort Worth couple gets in 'Shark Tank,' comes out with deal

A Fort Worth couple who started a business when they couldn’t sleep, were the first entrepreneurs to get a deal on ABC’s Shark Tank in the season premiere on Sept. 26.

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Internal audit says EPA mismanaged Fort Worth project

FORT WORTH, Texas (AP) — An internal audit by the U.S. Environmental Protection Agency reveals the agency mismanaged an experiment using new ways to demolish asbestos-ridden buildings.

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Weatherford's Wild Mushroom to open in Fort Worth's Ridglea Village

Weatherford restaurant staple The Wild Mushroom Steak House & Lounge will be coming to Fort Worth in November, moving into the former site of Ray’s Steakhouse at to 3206 Winthrop Ave. in the Ridglea Village Shopping Center.

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Oil falls below $102 on partial US govt shutdown


PAMELA SAMPSON, AP Business Writer

BANGKOK (AP) — The price of oil dropped below $102 a barrel Wednesday after scores of U.S. government workers were ordered off the job because of a budget impasse in Washington.

Benchmark oil for November delivery fell 44 cents to $101.60 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell 29 cents to close at $102.04 a barrel in New York.

Relatively weak oil demand in the U.S. could weaken further if the shutdown curbs economic growth and continues to stop 800,000 federal workers from driving to work. The workers were furloughed after U.S. lawmakers failed to agree on a budget measure to fund government operations after the fiscal year ended Monday.

"Oil prices are very much linked with U.S. consumption," said Andrew Sullivan, sales trader at Kim Eng Securities in Hong Kong. "With 800,000 workers not being paid, short-term demand is likely to be curtailed."

Investors will begin monitoring fresh information on U.S. stockpiles of crude and fuels Wednesday when the Energy Department's Energy Information Administration issues its weekly report. The EIA says it will continue to operate despite the shutdown for several more days.

Data for the week ending Sept. 27 is expected to show a build of 2.4 million barrels in crude oil stocks and a draw of 1.4 million barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

Brent crude, a benchmark used to price imported crude used by many U.S. refineries, fell 43 cents to $107.51 in London.

In other energy futures trading on Nymex:

— Wholesale gasoline fell 1.6 cents to $2.5948 per gallon.

— Natural gas rose 1.6 cents to $3.625 per 1,000 cubic feet.

— Heating oil fell 0.5 cent to $2.9505 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?